Lanco Infratech wins EPC order in Iraq

The project is scheduled to be completed in 16 months

Lanco Infratech Ltd (LITL) said that its EPC (engineering, procurement and construction) division has won its first international order in Iraq for AKAZ Power Plant of capacity 2x125 MW in Al-Anbar Province.

The scope of work includes EPC of an open cycle gas based thermal power plant with two (02) frame (9E) gas turbine generator sets supplied by General Electric International, Inc. The project is scheduled to be completed in 16 months.

L Madhusudhan Rao, Executive Chairman, LITL, said, "During the last fiscal, we have been actively bidding for new external contracts and have procured 1,200 MW thermal EPC order from Moser Baer Group Company, BoP order from Mahagenco for their 1,980 MW Koradi Thermal power plant near Nagpur and also 75 MW solar EPC order from Mahagenco to name a few".

With this, the order backlog for the LITL group on consolidated basis is Rs30,900 crore. This is the total value of unexecuted orders as of 31 March 2011 and new orders received till date.

On Tuesday, LITL ended 0.54% down at Rs27.55 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.31% to 17,560.30.

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Monsoon session to commence from 1st August

The much-talked about Lokpal Bill is expected to be tabled in the Monsoon session

New Delhi: The Monsoon Session of the Indian Parliament will be held from 1st August one to 8th September. A decision to this effect was taken at a meeting of Cabinet Committee on Parliamentary Affairs (CCPA) headed by finance minister Pranab Mukherjee, reports PTI.

After the meeting, parliamentary affairs minister Pawan Kumar Bansal said that the committee decided to recommend to the president to convene the session from 1st August.

"The CCPA has decided to recommend to the president for summoning the session of two houses of Parliament on 1st August and given the contingencies and exigencies of the work, it is likely to go up to 8th September," he told reporters.

Asked why the session was delayed, Mr Bansal said, "There have been instances in the past also where the session has been held in August."

On the Women's Reservation Bill, the minister said, "The government's seriousness on the issue showed when it got it into Rajya Sabha and also took a little unpleasant dose to see that it is passed."

The government has already announced its plans to bring the much-talked about Lokpal Bill in the Monsoon session.

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FDI dips by 9% to $6.51 billion in Jan-Apr

The Department of Industrial Policy and Promotion has initiated steps, including consolidation of all related rules and regulations into a single document, to boost FDI in the country

New Delhi: Foreign direct investment (FDI) into the country declined by 9% to $6.51 billion during January-April 2011 compared to $7.14 billion, reports PTI quoting industry ministry data.

According to experts, the government should further streamline FDI policies and make the environment more investment-friendly to attract investments.

"To boost FDI into the country, the government needs to take strong policy action," an economist said.

The sectors that attracted FDI include services (financial and non-financial), telecommunications, housing and real estate, construction activities and power, the data said.

Mauritius, Singapore, the US, the UK, the Netherlands, Japan, Germany and the UAE are the major investors in India.

FDI inflows into India totalled $19.42 billion in 2010-11, down from $25.83 billion in 2009-10.

The Department of Industrial Policy and Promotion (DIPP) has initiated steps, including consolidation of all related rules and regulations into a single document, to boost FDI in the country.

Recently, relaxing FDI norms, the DIPP had allowed Indian companies to issue equity against the import of capital goods and liberalised the conditions for foreign investment for production and development of seeds.

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