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Aug 25, 2014

Gautam Adani to invest $2 billion in Odisha power plant

BHUBANESWAR, India (Reuters) – Billionaire Gautam Adani plans to invest $2 billion to build a 2,500 megawatt power plant in Odisha, which would raise group capacity by a quarter and boost supply in a country where a third of the population still goes without power.

A college dropout and self-made entrepreneur, Adani has built a power, mining and ports giant with revenue of nearly $9 billion. Among his latest purchases in an expansion spree was the $327 million acquisition of a power plant from Lanco Infratech (LAIN.NS: Quote, Profile, Research) earlier this month.

Aug 25, 2014

Indian billionaire Adani to invest $2 bln in new power plant

BHUBANESWAR, India, Aug 25 (Reuters) – Indian billionaire
Gautam Adani plans to invest $2 billion to build a 2,500
megawatt power plant in Odisha state, which would raise group
capacity by a quarter and boost supply in a country where a
third of the population still goes without power.

A college dropout and self-made entrepreneur, Adani has
built a power, mining and ports giant with revenue of nearly $9
billion. Among his latest purchases in an expansion spree was
the $327 million acquisition of a power plant from Lanco
Infratech earlier this month.

Aug 3, 2014

More than 400,000 Indians face risk of flooding after Nepal landslide

PATNA/KATHMANDU, Aug 3 (Reuters) – More than 400,000 people
in eastern India face the risk of flooding after a landslide
that killed at least nine people in neighbouring Nepal, an
Indian government official said on Sunday, as thousands were
being evacuated.

The landslide triggered by heavy rains has left scores of
people missing and has created a mud dam blocking the Sunkoshi
river, which runs into India’s Bihar state as the Kosi river.

Jul 30, 2014

Vedanta Aluminium gets village’s nod to expand refinery

BHUBANESWAR India (Reuters) – Vedanta Aluminium, controlled by billionaire Anil Agarwal, moved closer to raising its alumina refining capacity by six fold from 1 million tonnes per year (tpy) after villagers near the plant voiced no objection to the expansion.

Most of the nearly 2,000 people present on Wednesday at the public hearing in Biswanathpur village of Odisha were “OK” with the project to expand the refinery, said B. K. Upadhyaya, the top bureaucrat of the district where the village is located.

Jul 30, 2014

India’s Vedanta Aluminium gets village’s nod to expand refinery

BHUBANESWAR, India, July 30 (Reuters) – India’s Vedanta
Aluminium, controlled by billionaire Anil Agarwal,
moved closer to raising its alumina refining capacity by six
fold from 1 million tonnes per year (tpy) after villagers near
the plant voiced no objection to the expansion.

Most of the nearly 2,000 people present on Wednesday at the
public hearing in Biswanathpur village of Odisha state were “OK”
with the project to expand the refinery, said B. K. Upadhyaya,
the top bureaucrat of the district where the village is located.

Jun 2, 2014

Odisha sees iron ore output steady despite mine closures

BHUBANESWAR India (Reuters) – India’s top iron ore producing state Odisha expects output in 2014/15 to hold around last year’s level as it fast-tracks licence renewals for mines shut down by a court order, a top official said on Monday.

The Supreme Court ordered the closure of nearly half of Odisha’s 56 mines two weeks ago due to the non-renewal of years-old leases. The closed mines accounted for about half of the state’s output of more than 70 million tonnes last fiscal year.

Jun 2, 2014

India’s Odisha sees iron ore output steady despite mine closures

BHUBANESWAR, India, June 2 (Reuters) – India’s top iron ore
producing state Odisha expects output in 2014/15 to hold around
last year’s level as it fast-tracks licence renewals for mines
shut down by a court order, a top official said on Monday.

India’s Supreme Court ordered the closure of nearly half of
Odisha’s 56 mines two weeks ago due to the non-renewal of
years-old leases. The closed mines accounted for about half of
the state’s output of more than 70 million tonnes last fiscal
year.

May 23, 2014

Odisha to renew some iron ore mining licences in about two months

NEW DELHI/BHUBANESWAR (Reuters) – India’s top iron ore producing state Odisha will renew in about two months licences of 10 of the 26 mines that were shut by the Supreme Court last week, a government official said, allaying fears of steelmakers the shutdown would lead to heavy imports.

The top court had ordered the closure of nearly half of the 56 mines in Odisha due to non-renewal of years-old leases. The closed mines accounted for about half of the state’s output of more than 70 million tonnes last fiscal year.

May 23, 2014

India’s Odisha to renew some iron ore mining licences in about 2 months

NEW DELHI/BHUBANESWAR, May 23 (Reuters) – India’s top iron
ore producing state Odisha will renew in about two months
licences of 10 of the 26 mines that were shut by the Supreme
Court last week, a government official said, allaying fears of
steelmakers the shutdown would lead to heavy imports.

The top court had ordered the closure of nearly half of the
56 mines in Odisha due to non-renewal of years-old leases. The
closed mines accounted for about half of the state’s output of
more than 70 million tonnes last fiscal year.

May 16, 2014

Supreme Court orders temporary closure of some Odisha iron ore mines

NEW DELHI/BHUBANESWAR (Reuters) – The Supreme Court ordered on Friday the temporary closure of nearly half of the iron ore mines in top producing state Odisha due to non-renewal of years-old leases, in a blow to local steel mills that depend heavily on high-quality ore from the state.

Odisha, which allows exports of only half of total iron ore output, produced more than 70 million tonnes in the last fiscal year from 56 operating mines.