Rajasthan
government decides to set up medicity
The Rajasthan
government has decided to set up `medicity' to meet the growing demand
for qualitative services.
The proposed
`medicity' project is expected to provide access to super speciality medicare
services to the people of Rajasthan and the entire northern region.
`Medicity will
be planned as a modern sophisticated city within the city complete with
technology and infrastructure facilities that compare with the best in
the world, said an industries department official.
The city will
have a post graduate medical institution of high standard and research
facilities in selected super speciality areas.
The official
said that it would also establish a model hospital city on joint sector
basis providing ideal working environment and will offload the excess burden
of super speciality care from the state government to enable it to concentrate
on preventive medicare and basic health care.
Participation
of private enterprise will also be sought for developing the other facilities
such as guest house, hotel, recreational club, shopping centre, etc. in
the medicity complex or the complex as a whole in phases.
Complete infrastructure
related support facilities including land, electricity, water supply, roads,
residential accommodation, tele-communication facilities would be arranged
by the state government. A separate SPV in the private sector would be
created for constructing as well as the management of the medicity.
IBRD sanctions
loan for Rajasthan power
The World bank
(IBRD) sanctioned a loan of $ 180 million for Rajasthan to help the state
improve the efficiency of its ailing power sector. Faced with increased
demand and severe shortfalls in power supply, the state government will
further strengthen management and operations of the power sector through
the Rajasthan Power Sector Restructuring Project (RPSRP).
The project
will reduce system losses currently estimated at around 42 per cent through
improvements in transmission and distribution systems to reduce outages,
stabilize voltage levels, and improve efficiency. Following consultations
that included consumers, political leadership and constituents, the Rajasthan
government also enacted new legislation establishing an independent regulatory
commission and separating the state power monopoly into five corporate
entities.
These improvements
are aimed at helping the state meet its target of extending power to an
additional 7,50,000 customers.
Even though
90 per cent villages in Rajasthan are connected to the power grid, more
than 60 per cent house-holds do not have electricity in their homes.
RPSRP will
provide technical assistance for strengthening management capacity of the
transmission company, advance privatization of distribution firms, and
promote initiatives in small scale power generation and renewable energy
production for remote locations.
Haryana
acquires land for Manesar-II
The Haryana
government has started acquiring land for the second phase of the IMT-Manesar
(Industrial Model Township) project, where leading domestic and international
companies including Honda Motors, Hero Honda, Baxter, Duracell, Maruti
Udyog Ltd. and Denso are setting up shops.
Encouraged
by the unprecedented response from Delhi entrepreneurs in the wake of the
Supreme Court ruling to shift industrial units out of non-conforming (residential)
areas, the state government has embarked on the expansion of IMT Manesar
and would acquire an additional 100 acre land near the existing 1,749 acre
site on National Highway 8 about 45km from Delhi, a senior state government
official said.
The park is
being developed by Feedback Ventures, private infrastructure development
and finance company on behalf of Haryana State Industrial Development Corporation
(HSIDC). Manesar is the first industrial township in the country which
is being developed by a private company on behalf of a state industrial
corporation.
The state government
would also issue notifications to acquire 700 acre of land at Bahadurgarh
and 500 acre at Badli in the vicinity of the national capital to accommodate
the industrial units being relocated out of Delhi. However, the state government
is taking all precautions to keep polluting industries out.
Tamil Nadu's
Nangunery SEZ to create 1.5 lakh jobs
India's first
greenfield SEZ (special economic zone) will be developed in three phases
of five years each, housing only hi-tech industries and creating more than
1.5 lakh jobs. The mega project, the foundation stone for which was laid
on 11.02.2001 would be a self-contained industrial town with its own supply
of power, water, transport and telecommunication services.
The total investment
in developing the three phases and the industrial units coming up in the
zone is likely to be around $ 4.5 billion. On infrastructure development
alone, it will attract $ 65 million investment in the first phase, followed
by $ 40 million each in the subsequent phases. The economic scenario of
this region in Tamil Nadu will undergo a transformation once the SEZ is
operational, Chief Minister, Dr. M. Karunanidhi said during the foundation
stone laying ceremony.
Infrastructure
support for the project is available in the form of a national highway
and railway line running near the eastern boundary of the SEZ. Moreover,
two ports - Tuticorin and the upcoming Kulachal are located within a 75
km radius. This region of the state will turn into a prosperous region
on account of the commerce generated by the SEZ.
The promoters
of the project Infac India Group of California and Tamil Nadu's Tamil Nadu
Industrial Development Corporation Ltd. (TIDCO) will ensure that the SEZ
flourishes and creates jobs for thousands, commerce and industry minister,
Shri Murasoli Maran remarked. The facility plans to target hi-tech industries
like telecom equipment, electronic components, bio-tech, pharma, consumer
durables, information technology products and precision engineering.
The Nangunery
SEZ will have a 10 km environmental control zone around it so that the
units there remain pollution-free. A 20 km environmental sensitivity zone
is also proposed near the zone.
According to
TIDCO Chairman Shri M. Nambiar, the promoters of the project have chosen
to go in for premium infrastructure which can be afforded by only hi-tech
industries since they are confident that growth in this sector will be
high enough to bring adequate business. TIDCO has 1 per cent stake in the
joint venture set up to run the SEZ while Infac India Group holds the rest
through a Mauritius based investment vehicle.
TN govt.
to set up Rs.100 crore bio-tech park in Chennai
The Tamil Nadu
government signed a memorandum of understanding (MoU) with Cornell University
of the USA for setting up of a Rs.100 crore bio-technology park in Chennai.
The proposed
initiative, the first phase of which would come up in a year's time encompassing
1,00,000 sq. ft. area, would facilitate research and enable bio-entrepreneurs
to commercialise their research findings, validate products and contract
`sequence' services.
TIDCO would
invest Rs.100 crore to set up the infrastructure, Cornell University would
extend technical support and collaboration for the project. The park is
expected to attract Rs.1,000 crore investment from around 30 companies
from India and abroad.
The park would
provide other services like training on a commercial basis and would also
facilitate allied industries including food.
The proposed
park would include a bio-resource centre with an incubator and a common
tenancy area (customised labs) and provide complete technical and other
services under one umbrella including technology networking, contract research
work, product validation, patent rights documentation and commercialisation.
The proposed
park would help bio-entrepreneurs to commercialise their research and validate
their product. Common infrastructure would help firms cut costly, substantially.
In addition to wet lab and customised labs, the park would also provide
other services like technology networking, contract research work, product
validation, patent rights and documentation.
Lucknow
to get IDFC funds for waste management
Infrastructure
Development Finance Company Ltd. (IDFC) has extended its support for energy
recovery from Municipal Solid Waste (MSW) project being developed at Lucknow
on private basis which is scheduled for commissioning in the middle of
2002.
IDFC's participation
in the project, with both debt and equity funds, demonstrates that MSW
projects can be structured as a commercially viable proposition by optimally
balancing environmental concerns and economic considerations.
The MSW management
is no longer a concern for its grave environmental and health implications.
MSW can now be harnessed for its energy recovery reuse and recycling potential,
all in a manner that can still be a commercially viable proposition, sufficient
to attract the interests of private entrepreneurs and financial institutions.
The project
has secured the UP government guarantee for payments by the Uttar Pradesh
Power Corporation Ltd. the power purchaser. The ministry of non-conventional
energy sources has also approved the project as a national demonstration
project, thereby providing a capital subsidy of Rs.15 crore.
A power purchase
agreement has also been entered into with the UPPC and the company proposes
to sell its organic fertiliser under a firm offtake agreement with corporate
houses that may require the fertiliser.
NON-ACCEPTANCE
OF Rs. 500 NOTES
The Reserve
Bank has clarified that all Rs.500 notes issued by the Reserve Bank from
time to time are legal tender and continue to be freely accepted for all
transactions. With the issue of the 500 rupee note in the revised colour
scheme in November last, the Reserve Bank had invited the public to exchange
the old design green 500 rupee notes (with the Ashoka Pillar in the watermark
window) for the new design 500 rupee notes. The Reserve Bank has clarified
that this is only a facility to enable members of the public to exchange
their old design 500 rupee notes. This effort should not be cited by banks
as the reason for not accepting these notes.
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