Tata Power expects to augments its power generation capacity by over 60 per cent in 2011 through the commissioning of new projects with a cumulative output of over 1,900 MW. “Next year, there will be a series of projects, which
will be commissioned. We have 800 MW in Mundra, 1,050 MW in Maithon’s two units, 120 MW in Jojobera with Tata Steel, 100 MW in wind and 25 MW of solar power in Gujarat,” Tata Power executive director (operations), Mr S. Padmanabhan, said. The company currently has a capacity of 3,000 MW. He said the coal-fired Maithon project in Jharkhand is in the “final stages” of completion, and the company expects to commission the first of the two 525-MW units by March, 2011.
Undeterred Emami seeks acquisitions
Undeterred by its failed bid to take over Paras Pharmaceuticals, healthcare company
Emami Ltd has drawn up a second list of prospective acquisition targets in the same space. “We have a Plan B. There is a list of companies in the personal and healthcare sector, which we will like to bid for,” Emami director, Mr Aditya Agarwal, said.
Declining to divulge the names of the companies, he said they were both listed and privately held. Mr Agarwal claimed that Emami had put in a `3,400 crore bid for Paras pharmaceuticals. “Since we have not got Paras, we will spend the money in expanding our portfolio.”
Moser Baer in solar energy push
Solar energy major Moser Baer has planned investment of $500-600 million over the next three to four years for expanding its manufacturing capacity of crystalline cells and crystalline silicon modules in India, a company official said. “Considering the huge potential in the solar power sector, both in the global as well as Indian markets, we have planned a capex of $500-600 million over the next three to four years for expanding our manufacturing capacity of crystalline cells and crystalline modules,” Moser Baer India’s Group CFO, Mr Yogesh Mathur, said. The firm plans to raise the funds through a combination of debt, equity and internal accruals.
Allahabad Bank looks overseas
In a bid to expand its overseas footprint, state-owned Allahabad Bank is looking at opening
branches in four countries including China and Singapore. “We have approached RBI for the approval to set up a branch in Shanghai, China and Singapore,” Allahabad Bank chairman and MD, Mr J. P. Dua, said. Besides, the bank is also looking to open a
branch in Bangladesh and another branch in Hong Kong, he said. Currently the Kolkata-based bank has just one overseas branch at Hong Kong, which has earned net profit in 2009-10. Apart from this, the branch has been earning operational profit during last two years.