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Popular Articles

Banks can't change schemes unilaterally: consumer panel
In a ruling that would bring cheers to thousands of customers, the National Consumer Commission has ruled that banks cannot unilaterally change its schemes as it might amount to "deficiency of service."

UN to cut staff by 40% in Pak on security concerns
The United Nations plans to reduce about 40 per cent of its staff in Pakistan by realigning their deployment due to growing security concerns in the wake of a wave of terrorist attacks across the country.

News of the day

TCS bags 5-year IT project from Andhra
Country’s largest IT firm, Tata Consultancy Services (TCS), has won the country’s largest State Wide Area Network (SWAN) project from the government of Andhra Pradesh on a five year Build, Own, Operate, and Transfer (BOOT) model.
International Business

Jaiprakash Power Ventures to raise Rs 1,500-2,000 cr

Jaypee Group firm Jaiprakash Power Ventures today said it will raise Rs 1,500-2,000 crore through convertible bonds issued to foreign investors and institutional placement by next month to augment its generation capacity. - Jaiprakash Power Ventures appoints Sunil Kumar as VC, CEO - Jaypee, L&T sign Rs 4,000 cr contract for MP power project - Pre-IPO placements back in vogue "We will raise Rs 1,500-2,000 crore by February for increasing our capacity," Jaypee Group Chairman Manoj Gaur told reporters here. The company"s current power generation capacity of 700 Mw which will be increased to 3,100 Mw by March 2012. "Work on adding 6,000 Mw in the company is going on and from January 2011, about 1,000 Mw would be added every year.... This would be both thermal and hydro (power plants)," Gaur said. The firm has an operational hydro power plant of 300 Mw in Baspa in Himachal Pradesh and another of 400 Mw in Vishnuprayag in Uttarakhand. It is also setting up hydro plants in Arunchal Pradesh, Mehgalya and Himachal Pradesh. The company is also developing thermal power plants in Uttar Pradesh and Madhya Pradesh.


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