Coal India Ltd has finalized contracts for heavy earth moving equipment worth over Rs 5,900 crore to ramp up production, its Chairman Pramod Agrawal said. The miner is also planning a capex of Rs 10,000 crore during the current fiscal.
The Department for Promotion of Industry and Internal Trade has sought cabinet nod for two industrial areas and one multi-modal logistics and transport hub, work on which is proposed to begin by next year.
Steel Authority of India (SAIL), reported that it has nearly doubled its capacity in five of its plants. The modernisation drive undertaken by the government is a key step towards the target of 300 MTPA crude steel productions by 2030.
High frequency data in September showed that the recovery was gaining pace. The Nomura India Business Resumption Index (NIBRI) came in at 82.3 for the week ending September 20 from 81.2 a week earlier, recording the second consecutive week of a fresh post-lockdown high.