Core sector logs 11.7% growth in October 2000
The overall index for the six infrastructure industries has reported 11.7 per cent growth in October 2000 as against 9.5 per cent in the corresponding month last year.
The growth rate for April-October 2000 period was, however, lower at 7.9 per cent as against 8.9 per cent growth in the corresponding seven months of last year.
coal, crude petroleum, petroleum refining and cement reported an upswing
in production. Growth of steel production ended lower at 10.7 per cent
as against 16.1 per cent in the corresponding month last year as shown
in the table below :
The six industries together account for total weight of 26.88 per cent in the Index for Industrial Production
NMDC Iron and Steel Plant at Geedam
The Board of the National Mineral Development Corporation (NMDC) has approved the setting up of a commercial Pig Iron Plant of three lakh tonnes capacity at Geedam near Bailadila in Dhantewala district of new Chhatisgarh State at an estimated cost of Rs. 298.68 crore. Its aim is to utilise the iron ore slimes from Bailadila mines to take care of the environmental and pollution control problems. It would take two years time for construction of the Plant with the zero date starting after land acquisition. It is also planned to expand the capacity of the plant to 1.5 million tonnes in stages. Bailadila Iron Ore Project- 10/11A has also been approved at an estimated cost of Rs. 430.50 crore.
Centre’s nod to international airport at Greater Noida
The Government of India has given in principle approval to the Greater Noida Industrial Development Authority (GNIDA) to set up an international airport in the area.
The authority plans to develop the airport, to be ready in eight to ten years as a complete entertainment centre hub.
The area adjoining it would have restaurants, entertainment centres and shopping complexes. It will act as a stop-over for international flights, where travellers can take a break and enjoy themselves while waiting for the next flight.
$ 250 m ADB loan for Calcutta project
The Asian Development Bank (ADB) has approved $ 250 million loan for Calcutta’s Urban Development Schemes.
Under the project, a policy and institutional framework would be established to sustain the investments in sewerage and drainage, solid waste management, slum improvements and canal rehabilitation in Calcutta.
The project will also include protection of environment from adverse developmental impact and help develop Calcutta Municipal Corporation (CMC) as proficient and autonomous municipality.
ADB approves loans for power sector
The Asian Development Bank (ADB) has approved two loans totalling US $350 million for power sector development in India.
The first loan of US$ 150 million will facilitate the establishment of independent tariff setting and regulation, rationalisation of the imposition of tariff, duties and imports in the sector to maintain equity among consumer categories, and change management practices.
It also aims to improve conservation of water and electricity on a pilot basis through improved irrigation systems. This loan will be released in three tranches of US$ 50 million each.
The second loan of US $ 200 million is for the Gujarat Power Sector Development Project. The project comprises transmission lines and substations associated with two IPP projects, system improvement, upgrading and strengthening of distribution systems and a pilot scheme for energy and water conservation.