BHEL order book stands at Rs 1353bn: reports
At the company's annual general meeting, CMD BHEL B P Rao reportedly said that at the end of the year, total orders in hand for execution in 2012-13 and beyond, stand at about Rs. 1353bn.
BHEL recorded a 26% surge in networth, which went up to Rs. 253.73bn from Rs. 201.54bn in the year before, report said.
B P Rao also reported that 2011-12 fiscal witnessed business confidence falling sharply due to a barrage of shocks like the tsunami in Japan, political volatility in the Middle East and North Africa and widespread financial instability in Europe, impacting BHEL's international business prospects.
With a capital investment of Rs. 11.22bn in 2011-12, BHEL has made a total capital investment of Rs. 62.98bn during the 11th Five Year Plan period in augmenting manufacturing capacities and modernisation of facilities, BHEL reported.
Suzlon Group expands its 3 MW series
Suzlon Group, the world’s fifth largest wind turbine maker, announces an expansion of its REpower 3.XM series. The group’s subsidiary REpower Systems SE is presenting the restructured portfolio at HUSUM WindEnergy 2012 trade fair: in line with their potential, the existing turbines from the 3-megawatt class – the REpower 3.2M114 and REpower 3.4M104 – are being certified for use at sites with higher wind speeds. A third turbine type, the 3.0M122, has been added to the company’s 3.XM series. It has been specially designed for conditions at sites where there is lower wind. The first variant of the new turbine with a hub height of up to 139 metres will be on sale starting in early 2013, a prototype erected in the fourth quarter of 2013.
The 3.4M104 is particularly suitable for sites with high winds. It will be available in four hub heights (80 m, 93 m, 100 m, 128 m) for IEC class I (high wind) sites starting in 2014. The 3.2M114 has a rated power of 3.2 megawatts. It will be designed for sites with average wind speeds and will be available in all three hub heights (93 m, 123 m, 143 m) in the corresponding IEC II wind class starting in mid-2013. In addition to certification for IEC classes, the turbines are also being certified for the highest wind zones and terrain categories in accordance with the German DIBt guidelines.
The new REpower 3.0M122 has a rated output of 3 MW and a rotor diameter of 122 metres. With a coated rotor surface of more than 11,600 square metres, it is the largest REpower onshore turbine in terms of its rotor diameter. With the larger rotor combined with the high hub height of 139 metres, the turbine is designed to be even more cost effective at low wind sites.
Govt mulls stake sale in NTPC: reports
The Union Finance Ministry has reportedly proposed selling a 9.5% stake in NTPC Ltd. to raise as much as Rs 131bn as part of its disinvestment program for the current fiscal year.The proposal will now go for inter-ministerial consultation and then to the Cabinet Committee on Economic Affairs, a finance ministry official was quoted as saying.
The Government holds an 84.50% stake in NTPC as of June 30.The Centre aims to raise Rs 300bn from share sales in a clutch of state-run companies this fiscal year through March 2013.
The proposed disinvestment in NTPC could be through auction, media reports said.Separately, reports indicated that NTPC will invite bids from banks and financial institutions next week to raise up to Rs 5bn via bonds.
The state-run power producer will issue 10-year and 15-year bonds with separately tradable redeemable principal parts, with redemptions starting from the 11th year to the 15th year.The NTPC bond issue is rated "AAA" by Crisil.
RPower commissions 400 Kv switchyard at Sasan UMPP
Reliance Power announced the commissioning of the 400 Kv switchyard at the Sasan Ultra Mega Power Plant. With this, the 3,960 MW Sasan UMPP is now connected to the national grid.
In Focus Stories
India successfully tests AGNI-IV missile
DRDO developed, 4000 kms range Nuclear Capable Ballistic Missile AGNI-IV, was successfully flight tested from Wheeler’s Island in Odisha today. This long range missile propelled by composite rocket motor technology, was tested for its full capability. The Agni-IV, launched from the road mobile launcher, reached the pre-defined target in about 20 minutes.
The missile equipped with state of the art Avionics, 5th generation On Board Computer and with distributed architecture has the latest features to correct and guide for inflight disturbances.
The most accurate Ring Laser Gyro based Inertial Navigation System (RINS) and supported by highly reliable redundant Micro Navigation System (MINGS), ensured the missile reach the target within two digit accuracy.
The re-entry heat shield withstood temperatures of more than 3000 degree centigrade and made sure the avionics function normally with inside temperature less than 50 degree centigrade.
Suzlon arm REpower, WSB sign 45 MW contract for Poland
At the HUSUM WindEnergy trade fair, Suzlon Group-subsidiary REpower Systems SE and WSB Neue Energien GmbH signed a contract for the delivery and construction of 22 REpower MM92 wind turbines. The turbines, each with a rated power of 2.05 megawatts (MW), are intended for the Taczalin project near Legnica in the Polish province of Lower Silesia. Construction and commissioning of the wind farm, which will have a total power output of 45.1 MW, are scheduled for completion in August 2013.
After signing the contract, Jens Müller Nielsen, Managing Director of REpower Systems Polska SP.z.o.o., which serves the Polish market, said: “REpower has been operating on the Polish market since 2010 and since then has sold wind farms with a power output totalling more than 200 MW. The Taczalin project is our biggest ever in Poland.”
“We are delighted to continue our successful cooperation with REpower, a strong partner with whom we can accelerate our already burgeoning growth in international activities,” says Andreas Dorner, Managing Director of WSB Neue Energien GmbH.
Reliance Infra launches first cement under brand name “Reliance Cement”
Reliance Infrastructure Limited (RInfra), part of the Reliance Group, through its subsidiary Reliance Cement Company Private Limited (RCC), today announced the launch of its first cement under the brand name “Reliance Cement”.
The Company now commercially enters into Indian cement market that has been on a robust growth trajectory for more than a decade, led by buoyancy in sectors like real estate, infrastructure and construction.
Reliance Cement is a new-age Portland Pozzollona Cement, manufactured in its recently commissioned Butibori plant at Maharashtra and will mainly be delivered to Vidarbha market. A strong channel network has been set-up to service the retail customers of Vidarbha region.
L&T presents Ascent Engineering Mastermind
Larsen & Toubro presents Ascent Engineering Mastermind, India’s maiden Inter Corporate quiz competition for engineers concluded on a high note. The quiz offered an explosive mix of mind boggling trivia and an electrifying environment. Designed by Quizworks, this quiz witnessed some of the smartest engineering minds in the country as they competed for top honors. Eminent engineering organizations like HCL, Infosys, Microsoft, BPCL, Maersk etc. participated in this event.
More than five thousand entries received from Mumbai, Delhi and Bangalore for the zonal rounds is a testimony to its grand success. Corporate like NTPC and HCL from Delhi, TCS and Microsoft Bangalore and Mumbai’s JWS Steel and BPCL were the zonal round winners, who contested for the national finale held in Mumbai.
Sreekanth Gundumalla and Jayakanthan Ranganathan from TCS Bangalore ruled from the first round and won by more than a striking margin. Chandan Shahi and KM Prashanth from NTPC, Delhi, were on second position.
Jayakanthan Ranganathan from TCS Bangalore winning team said “It feels great to win this quiz especially since it is an engineering quiz competition. I have participated in Corporate and IT quiz competitions but it was the first time I participated in an engineering quiz.”
Welspun Corp concludes Rs. 25.8mn NCD’s
Welspun Corp Ltd. (WCL), the 2nd largest (Large Diameter) Pipe Company in the World (Source: Financial Times, UK), and the flagship Company of the $3.5 billion Welspun Group has informed the stock exchange today that it has successfully concluded the placement of AA(-) rate secured Redeemable Non-convertible Debentures( NCD’s).
WCL raised Rs. 2528 million NCD’s (including Rs. 200 billion NCD’s announced earlier and the green shoe option of Rs. 528 million) with maturity of 5 and 7 years. The NCD’s with 7 years maturity were raised (excluding issue expense) at a coupon of 11.15% p.a. with put/call at the end of 5 years and at 11.25% p.a. without any put/call option.
The issue was dual rated at AA(-) thus affirming that the instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. The NCD’s was placed amongst marquee investors including banks and financial institutions.
Lanco Infratech arm declares Commercial Operation of Thermal Power Project
Lanco Infratech Ltd has informed BSE that Udupi Power Corporation Limited, a Subsidiary of the Company, having setup Imported Coal Based Thermal Power Project Unit-2 of 1200 MW (2 x 600 MW) in Udupi District, Karnataka, after completion of the formalities, has declared the Commercial Operation on August 19, 2012.
Further, the Principal Buyers of Power have established 400 KV Transmission Line to evacuate Power from the Project.
The Government of Karnataka have dedicated the Transmission Line to the Nation on September 12, 2012. With these, both the Units of the Project are in Operation.
BHEL to grow non-power business: reports
Bharat Heavy Electricals Ltd, which is poised to witness cancellation of orders worth over Rs. 210bn, is planning to grow its non-power business, according to reports.
Reports stated that the company would enhance its industrial, transportation, piping, refinery and transmission and distribution businesses.
Power accounts for 70% of the company’s revenue while the remaining balance is from non-power, company reported.
There are reports that BHEL plans to supply cracking towers and columns for refineries, and pressure vessels for petrochemical plants.
Tata Power arm launches ‘Sagarbandhu’ project: reports
Tractebel Engineering launches book authored by Dr. H.R.Sharma, an international hydro power expert
DPSC comments on Government's decision to permit foreign investors
Vikram Solar to install 1MW Captive Solar Photovoltaic Power Plant
Eon Electric starts production of Lithium Ion Batteries
JSW Steel to lose mining licence: reports
Suzlon Group announces update on FCCBs
REpower delivers tallest turbine type to Austria
Suzlon Group’s subsidiary REpower Systems SE signed a contract at HUSUM WindEnergy 2012 with the Austrian operator Windkraft Simonsfeld AG for the delivery of eight 3.2M114 wind turbines.
The turbines, each with a rated power output of 3.2 megawatts (MW) and a hub height of 143 metres, are intended for the Poysdorf-Wilfersdorf III wind farm in the north-east of Austria. With a total height of 200 metres, the REpower 3.2M114 is the tallest wind turbine ever constructed in the country. They will be delivered in the second quarter of 2013 and the wind farm, which will have a total power output of around 26 MW, is scheduled to go live in the fourth quarter.
In addition to delivering, constructing and commissioning the turbines, the Hamburg-based company is also responsible for maintaining them and will conclude a 20-year integrated service package (ISP) contract with Windkraft Simonsfeld AG.
German cartel office fines Siemens, ABB, Alstom: reports
Germany's Federal Cartel Office reportedly issued fines totaling around 24.3 million euros ($31.3 million) to four companies including Siemens AG, Alstom SA and ABB AG in a cartel probe related to alleged price fixing in the German power transformer market.
The cartel office said that representatives of the companies often met on the sidelines of German Electronics Association meetings in Frankfurt, for informal discussions on specific projects and tenders, according to reports.
Reports also stated that the companies can appeal the fines at the Duesseldorf high court.
FedEx cuts profit outlook for fiscal 2013: reports