Mundra Petrochemicals Limited, a wholly-owned subsidiary of Adani Enterprises, has reportedly decided not to go ahead with its Rs 34,900-crore green polyvinyl chloride (PVC) project in Gujarat, due to the recent market developments. Denying the news, the Adani group clarified that it is going to fix the funding issues in the next six months and execute the project as per schedule.
Mundra Petrochemicals intended to set up a Coal to PVC plant at Vandh & Tunda village in Kachchh district of Gujarat. The proposed project comprised installation of various plants such as semi-coke, calcium carbide, acetylene, etc.
A consortium of Rail Vikas Nigam Ltd and Tracks and Towers Infratech Pvt Ltd has emerged as the lowest bidder to construct in Jharkhand a stretch of the greenfield Varanasi-Ranchi-Kolkata highway, at a cost of Rs 1271.99 bln. National Highways Authority of India (NHAI) plans to develop four/six lane expressway on Varanasi-Ranchi-Kolkata Road in length of 612.00 km of Varanasi-Ranchi-Kolkata EXP Corridor (Package-XI) in Uttar Pradesh, Bihar, Jharkhand and West Bengal under the Bharatmala Pariyojna Phase-II.
THDCIL Unit One Boiler tested – On 20 March 2023, THDC India Limited (THDCIL) successfully conducted boiler hydro test of Unit-1 of its under construction coal-based 2X660 MW Khurja Super Thermal Power Plant (STPP) in Bulandshahar, Uttar Pradesh. THDCIL is setting up 1,320 (2×660) MW Khurja coal based power units at a cost of Rs 11,089 crore. The thermal power project will be built over 1,400 acres of land.THDCIL will supply 60 per cent of the power to the state government and the balance 40 per cent to Himachal Pradesh, Delhi, Rajasthan and Uttarakhand. The project is expected to be commissioned by June 2024.
Reliance SOU, a subsidiary of Reliance Industries plans to develop hotels and resorts near the Statue of Unity in Gujarat. About 10 million people visited the unity statue after it was built four years ago. RIL has incorporated Reliance SOU for development of properties for commercial uses. Sardar Vallabhbhai Patel Rashtriya Ekta Trust built a monument of Shri Sardar Vallabhbhai Patel ‘Statue of Unity’ at Sadhu bet, Near Sardar Sarovar Dam, Garudeshvar weir, Kevadia in Narmada district of Gujarat. The 182 metres tall statue was built at a cost of Rs 3,060.88 crore and the tourist centre has an exhibition hall, memorial garden, administrative complex-cum-convention centre, food court and a 52-room three-star lodging facility.
Revlon’s Indian partner the Umesh Modi group plans to invest Rs 100 crore to expand its distribution network across India and to roll out more mass-premium coloured cosmetics under the Revlon brand. In June 2022, Revlon’s parent company in the USA, Revlon Inc., filed for bankruptcy due to fall in revenue following the COVID-led disruption of its supply chain.