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Hyatt Hotels plans 10 new hotels

April 1, 2015

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Source: www.projectstoday.com

Hyatt Hotels plans to expand operations in India by opening 10 hotels, under the brand name Hyatt Place, in the next four-five years. The company will require around Rs.80-100 crore investment depending on location and number of rooms in each hotel. Hyatt Hotels first opened its 115-room property in September 2012, in Hampi, Karnataka, followed by a 168-room property in in November 2014, in Gurgaon, Haryana,. The third 117-room hotel was opened in January 2015 at Hinjewadi IT Park, near Pune.

Krishana Phoschem Ltd, India’s only private sector producer of beneficiated rock phosphate through floatation process, is setting up a 6,600-tpa ferrous sulphate unit. The unit will come up at Meghnagar in Jhabua district of Madhya Pradesh. The Rs.100-crore project will come up on 30,000 sq. metres of land which has been acquired. The consultant, civil contractor and machinery supplier are yet to be finalised. Work is expected to commence by June.

Maxgrow Industries Pvt. Ltd plans to set up a TMT bars unit (phase-I) with a capacity of 4 lakh tpa, at Shendri, Gadhinglaj taluka, in Kolhapur district of Maharashtra. The estimated cost of the project is Rs.266 crore. It will span 15 acres of land and will include a billets unit with a capacity of 4.28 lakh tpa. While land for the project has been acquired, the civil contractor and machinery suppliers are still to be finalised. The company is awaiting environment clearance.

Penna Cement, one of the largest cement companies in the private sector with an installed capacity of 7 million tpa, is planning to set up a 0.7-million tpa cement grinding unit at Daund in Pune district of Maharashtra. The unit will be set up on 23 acres of land. The estimated cost of the project is Rs 200 crore. Gannon Dunkerley & Co. Ltd is the contractor and Walchandnagar Industries the machinery supplier. While land for the project has been acquiredm, environment clearance is awaited. Work on the project is expected to start by September.

Neelachal Ispat Nigam Ltd, a steel PSU jointly promoted by trading firm MMTC and Odisha PSUs OMC and IPICOL, has announced plans to expand its capacity from 1.1 million tpa to 5 million tpa at an investment of Rs.5,600 crore. NINL will undertake the expansion at Kalinganagar in Duburi area of Jajpur district of Odisha in two phases: 2.2 million tpa in phase-I and 5 million tpa in phase II. It is learnt that 70 per cent of the investment will be raised through debt and 30 per cent through equity. MMTC will contribute Rs.400-500 crore towards the expansion.

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