Essar Projects bags Rs 1,400 cr IOC deal Mumbai: Essar Projects (I) Ltd (EPIL),on Monday said it has bagged a contract valued at Rs 1,400 crore from Indian Oil Corporation Ltd (IOCL). EPIL emerged as the winner against stiff international competition. With this contract,the current order-book size of Essar Projects is in excess of $5.5 billion,a press release issued here stated. IOCL is setting up a 15-million tonne per annum refinery in Paradip,Orissa,and has mandated EPIL for the Lump Sum Turn Key (LSTK) Package A for the main refinery units. Orissa govt,Navayuga in pact to build port Bhubaneswar: Orissa government on Monday signed a concession agreement with Navayuga Engineering Company to set up a port with a capacity of 25 MTPA,at an investment of Rs 6,500 crore in Puri district. The state government signed the concession agreement,almost two years after concluding an MoU with the Hyderabad-based developer Navayuga on December 12,2008. OECD output expands by sluggish 0.6% in Q3 London: In signs of continued sluggishness in the global economic recovery,the output of OECD countries grew by just 0.6 per cent in the three months ended September,much below the expansion tracked in the June quarter. The 30-nation Organisation for Economic Cooperation and Development (OECD) accounts for over 60 per cent of the total global economic output. Gross domestic product (GDP) in the OECD area grew by 0.6 per cent in the third quarter of 2010. This marks the sixth consecutive quarter of growth,but is down on the 0.9 per cent recorded in the second quarter, the Paris-based OECD said. CBI,Nasscom inks pact to fight cyber crime New Delhi: With cyber war topping the list of threats being faced by Indias IT industry and the government,CBI on Monday signed an agreement with industry body Nasscom for sharing of expertise to contain the menace of cyber crime,generally being perpetrated from outside the country. As part of the agreement,Nasscom and Data Security Council of India (DSCI) will act as knowledge partners for the CBI in the area of cyber security. Cyber security is emerging as a major corporate and government concern worldwide. This partnership will enable Nasscom to play the role of a facilitator and bring the latest technological developments to the CBI, Nasscom president Som Mittal said. UBI to enter MFI arena in Andhra Pradesh Hyderabad: Union Bank of India made its maiden foray into micro-credit arena on Monday with the launch of a new scheme covering 20 mandals in Andhra Pradesh. We have decided to lend 20 mandals about Rs 50 lakh each and we would extend this to about 100 mandals in this fiscal,which will be about Rs 50 crore by way of cash credit facility. This is in addition to Self Help Group financing that is taking place, UBI CMD M V Nair said.
