Briefly Business

Maharatna PSU Steel Authority of India Ltd SAIL on Saturday inked a memorandum of understanding MoU with IRCON International for jointly working on rail infrastructure projects both in India and abroad.

SAIL inks deal with IRCON

Mumbai: Maharatna PSU Steel Authority of India Ltd SAIL on Saturday inked a memorandum of understanding MoU with IRCON International for jointly working on rail infrastructure projects both in India and abroad. IRCON,which has expertise in development of surface transportation infrastructure,has handled around 300 projects in India and abroad and is currently setting up rail infrastructure in a number of developing countries. SAIL is a major producer and supplier of railway materials.

India to double equipment sales

Singapore: Indias construction and mining equipment exports to Southeast Asian markets is expected to double to 10 per cent in the next three years,a senior CII official said here on Saturday. Our members are targeting the Indonesian,Myanmar,Vietnamese and the Philippines markets,where India-made construction and mining equipment have been tried and tested, said Anand Sundaresan,vice-chairman for the Chennai zone at the CI . Sundaresan is attending the India Show held in the country during 14-16 January.

CIL plans 20 coal washing centres

Rourkela: In a bid to increase the availability of quality coal,public sector Coal India Limited CIL has decided to open at least 20 coal washing points in various coal belts of the country. Out of the 20 proposed washing points,two would be set up in Bharat Coking Coal Ltd BCCL and Mahanadi Coalfields Limited MCL in Orissa shortly,8221; CIL Chairman Partha S Bhattacharya told reporters here. He said after wash,Indian coal can compete in the international market. The CIL will get better price for the finished product,he said,adding that the coal buyers should bear the cost of the washing points.

UBIs new term deposit scheme

Mumbai: Public sector lender Union Bank of India on Saturday announced a new 1100 days term deposit scheme offering an interest of 9.15 per cent per annum. The bank will start accepting deposits under the special deposit plan from Monday,it said in a release issued here today. The Mumbai-headquartered bank already offers a 700 days term deposit with an interest of 8.60 per cent which will run concurrently with the newly announced 1100 days plan,the bank added.