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Nasscom, Philippine counterpart to sign MoU
The Business Process Outsourcing (BPO) sectors of India and the Philippines are joining hands to combat protectionism from European Union nations and the US, and to increase cooperation between both nations which traditionally have been competitors as ‘low-cost’ outsourcing destinations.

CBI files memo in Satyam case
The Central Bureau of Investigation (CBI), which is investigating into the Satyam case, has filed a memo in Nampally court today for hearing the charges against nine accused in the case.

News of the day

ATF hike to earn Rs 120 crore a year for AP
The increase in the tax on aviation turbine fuel (ATF) from 4 to 16 per cent in Andhra Pradesh would fetch the state exchequer an additional revenue of around Rs 120 crore a year, but it might take away the advantage Hyderabad enjoyed because of its lower tax rates.
International Business

JP Associates to invest Rs 4,500-cr in cement project

Jaypee Group firm Jaiprakash (JP) Associates today said it will invest Rs 4,500 crore to take its cement manufacturing capacity from 20 million tonnes per annum (mtpa) to 33 mtpa by 2012. - JP Asso to raise Rs 1,500 cr through Infra arm IPO - Cos raises over Rs 14,000 cr in upbeat mkt - Rally prompts promoters to sell treasury stock - Cement despatch growth remains robust - JP Associates rises on board's nod to raise Rs 4,000 crore - Easier rights norms may fall flat The company"s current capacity is 15 mtpa that will go up to 20 mtpa in the next 2-3 months for which most of the investments have been made. "We currently have a capacity of 15 mtpa...The total capacity will reach from 20 mtpa in March 2010 to 33 mtpa by March 2012 at a cost of Rs 4,500 crore," Jaiprakash Associates Chief Financial Officer Rahul Kumar told reporters here. "Part of the Rs 4,500 crore investment has already been made to augment the capacity," Kumar said. Additional funds would be raised to meet the capacity targets, he said, without giving specifics. The company"s first joint-venture cement plant with Steel Authority of India will be commissioned by March with a capacity of 2.2 mtpa. Its second JV plant with the steel major would be operational by July 2011 in Bokaro in Jharkhand with capacity of 2.1 mtpa. The other cement plants by the company are coming up in Gujarat, Himachal Pradesh and Uttarakhand.


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