Shriram EPC has revealed that the company has secured two orders with combined worth of Rs. 809.7 million from Rashtriya Ispat Nigam for its Visakhapatnam Steel Plant.

According to the sources, the first order will execute design, manufacture, supply of indigenous plant and machinery and equipment for the Special Bar Mill (SBM). Whereas, the second order carry out storage, handling, erection, testing, commissioning and PG tests for the SBM.

Pyramid and Longzhe Culture and Theatre (PLCTL), has rolled out its first ever theatre in Huainan, China - the Huainan Pyramid Longzhe Theatre Entertainment Tower.

According to the sources, PLCTL is a joint venture, formed between Chennai-based Pyramid Saimira Theatre and Longzhe Group supported by The China Society of Music Research Board (CSMRB).

For further expansion, the JV eyes to pump $ 30 million in the coming 6 months in China.

Recently, Reliance Communications made the announcement that the company is investing around USD 3 billion for their upcoming GSM operations in the Indian market.

A branch of the Anil Dhirubhai AmbaniGroup, Reliance Capital (R-Capital), is, now, eying on the insurance business. It is planning to invest Rs 2,000 crore in insurance businesses in the next three years. The company would also enter in the banking, home loans and consumer finance businesses as disclosed by the chairman of group, Mr Anil Amban, in a meeting between company officials and shareholders.

R-Capital Chairman, Anil Ambani told the shareholders that the group is working on many plans for next three years. The company would increase its distribution network from 4,000 to 20,000 cities across the country. The company also intends to venture into non-banking financial companies (NBFCs). It would start two separate companies for housing and consumer finance.

The Food and Drug Administration (USFDA) is not satisfied with the quality of drugs produced by Ranbaxy. The agency has issued two letters to Indian drug major, warning it about the drug quality. The agency has raised questions on the quality of more than 30 generic drugs. The company is producing these drugs at its Paonta Sahib and Dewas plants.

Uniross, the European leader in rechargeable batteries and chargers, has appointed Julien Ceran as its new Country Manager for its India operations. The appointment takes effect on 1st, August, 2008.

Mr. Ceran will look after all aspects of the Uniross’s Indian business from the company’s national headquarter, which is based in Delhi, and report directly to Asia-Pacific President – Boris Duhamel.