India’s largest manganese alloy producer Maithan Alloy Ltd has announced that the company envisages to pump Rs350 crore for introducing two greenfield manganese alloy plants to meet the growing demand from global steel firms.

Commenting on the plans, Mr. S C Agarwalla, Managing Director of Maithan Alloy, remarked, “We are installing a plant in Meghalaya and one in Andhra Pradesh. The total combined capacity of the two plants would be 1.38 lakh tonnes per annum.”

The company will invest Rs 80 crore in Meghalaya plant, with production capacity of 28,000 tonne  per annum, while 1.2 lakh tonne per annum Andhra Pradesh unit will entail an investment of Rs 275 crore.

Era Infra Engineering has disclosed that it has bagged a contract worth Rs 2.09 billion from Naya Raipur Development Authority (NRDA) for the construction of Head of Department Building at Capitol Complex, Naya Raipur, Chhattisgarh.

Era Infra Engineering is a fully integrated infrastructure conglomerate that specialiges in infrastructure development, pre-engineered building blocks and real estate development.

Recently, the company’s joint venture with KMB has won Rs 129.65 crore contract from the Airports Authority of India (AAI).

The state owned Telecom Company BSNL is all set to float a tender of $9b in the coming month. The company is due set up 93 mn GSM lines to expand its net work, especially in the rural areas of India. Leading telecom equipment manufacturers are vying for the world’s largest telecom equipment tender. The companies in the race are Ericsson, Nokia Siemens, Alcatel-Lucent, Huawei, ZTE and Nortel Networks. These companies have already submitted their bids to get this tender.

Some of world’s leading alcohol beverage firms are vying for a stake in the United Spirits, an arm of Rs 3200 crore UB group. The largest spirits firm of the world, Diageo is one of the major contender.

The chairman of the UB group Vijay Mallya disclosed that his firm is in touch with three global firms on the stake issue in the United Spirits. He said that his firm has a large network in India and global firms wanted to enter in the fast growing and lucrative Indian market through UB group.

The world’s largest steel producer Arcelor Mittal has expressed interest to set up plants in India. The company, in a statement said that it will make investment in India. It also revealed that cost overturn and Singur like issues will not deter it from investing in India.

ArcelorMittal’s chairman & CEO, Laxmi Mittal said Singur like cases may happen in any part of the world. People can oppose a particular project but the investment issue is linked to the overall growth of the country.

Vedanta Resources announced to introduce major changes in its corporate structure on Tuesday. It has created three verticals to simplify the business process and eliminate cross holdings among group businesses. The three newly formed verticals are copper and zinc-lead, aluminum and energy, and iron ore.

This scheme is approved by the boards of Vedanta and group companies. It would be effective from April 1, 2009 as per the guidelines of Sterlite and Madras Aluminum Company (Malco). Vedanta will transfer its 79.4 percent equity interest in Konkola Copper Mines (KCM) in Zambia to Sterlite while the aluminum and energy businesses of sterlite would be demerged to Madras Aluminum Company (Malco).