Steel Authority of India (SAIL) has supplied around 50,000 tonne of steel for the Purvanchal Expressway in Uttar Pradesh. Prime Minister Narendra Modi on 16 November 2021 inaugurated the 341-km-long Purvanchal Expressway, which connects Lucknow to Ghazipur in eastern Uttar Pradesh. The total products supplied for the project were TMT Bars, structurals and plates. The expressway will substantially improve the road connectivity among several districts of Uttar Pradesh. The company earlier supplied steel for projects like Eastern and Western Peripheral Expressways, Atal Tunnel, Bogibeel and Dhola Sadiya bridges.

SAIL supplies 50,000 tonne steel for Purvanchal Expressway

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A five-year integrated development plan for the coffee sector with an outlay of Rs 1,200 crore is in the offing. The proposed integrated development plan has received approval from the Commerce Ministry, Finance Ministry, NITI Aayog and the Prime Minister’s Office, is expected to be placed before the Union Cabinet shortly. The proposed scheme prepared by the Coffee Board, in consultation with stakeholders, has many components such as assistance for re-plantation, revival of white stem borer-affected arabica plantations, productivity improvement of robusta holdings by gap filling with elite clones and collar pruning, water augmentation, quality upgradation - eco pulpers, drying yards, roasting and grinding units, formation of FPOs and exports promotion, among others. Once the Cabinet clears the proposal, the scheme will be implemented with immediate effect. As part of the proposed plan, a Centre of Excellence (CoE) for coffee entrepreneurship is being planned to groom the next generation.

Five year integrated plan in offing for coffee sector

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Switch Mobility to supply 300 e-buses to Bengaluru

Switch Mobility to supply 300 e-buses to Bengaluru

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Phoenix Mills (PML) and the Canada Pension Plan Investment Board (CPP Investments) have announced a new joint venture (JV) to develop an office-led mixed-use asset in Lower Parel, Mumbai. The asset forms part of a larger mixed-use development at Phoenix Palladium, Mumbai. CPP Investments will commit to investing approximately Rs 13.5 billion (CAD 231 million) in tranches, for an ultimate equity stake of 49 percent in Plutocrat Commercial Real Estate Private (PCREPL), the entity that will own the asset. With the funds invested by CPP Investments and PML, PCREPL will develop office space with a potential leasable area of approximately one million sq ft and flagship retail space with a potential leasable area of approximately 0.2 million sq ft. The target completion date for the development is 2026. The office-led mixed-use asset will complement the existing retail development at Phoenix Palladium, Mumbai and The St Regis, Mumbai. PML and CPP Investments’ first joint venture, Island Star Mall Developers (ISMDPL), was formed in 2017 to develop, own and operate retail-led, mixed-use developments across India. Phoenix Marketcity in Whitefield Bengaluru served as the seed asset for the alliance. In addition to owning and operating Phoenix Marketcity, ISMDPL owns and is currently developing three retail-led, mixed-use developments at Wakad Pune, Hebbal Bengaluru and Indore. In May 2021 a second joint venture between PML and CPP Investments was formed to develop a regional retail centre in Alipore, Kolkata. Cumulatively, CPP Investments’ equity commitment in multiple JVs with PML now stands at approximately Rs 41 billion (CAD 709 million).

Phoenix Mills, CPP Investments collaborate to develop mixed-use asset in Lower...

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