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10th April 2009
Friday
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9-April-09 News Headlines

Corporate News Headline
•ACC would invest around Rs. 29 bn in the next one year to increase its capacity to over 30 mtpa from the present 22.63 mtpa. (BS)
•Jindal Stainless is planning to raise up to Rs. 5 bn to part fund the second phase of its Rs. 57 bn Orissa project. (BS)
•IDEA Cellular is planning to invest Rs. 10 bn in Orissa in the next three years to expand its footprint. (ET)

Economic and Political Headline
•The total passenger car sales in the domestic market increased marginally in March to 1,29,358 from 1,28,098 units in the same month last year. (BS)
•The sales at the US wholesalers rose 0.6% in February for the first time in eight months, contributing to a record drop in inventories that indicates distributors are well on the way to eliminating the glut in stockpiles. (Bloomberg)
•The UK economy shrank 1.5% in the first quarter as the recession increasingly resembled the one that started in 1979 when Margaret Thatcher took power. (Bloomberg)
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Torrent Power gets Long Term Open Access Approval From CEAFor Surat Unit

Long Term Open Access (LTOA) for 500MW capacity out of 1100MW Sugen generaion project in Gujarat was already provided subject to availability of dedicated and identified system strengthening schemes.
 
However, it was informed that M/s Torrent Power has indicated that out of two LILO (Gandhar – Vapi at Sugen and Gandhar – Dehgam at Sugen –temporary arrangement] LILO of Gandhar – Vapi at Sugen is ready while other LILO of Gandhar-Dehgam at Sugen will take some more time.
 
Further, the first unit was ready for transfer of power.
 
It was discussed and decided that LTOA may be provided upto 500 MW progressively with already completed LILO arrangement viz with the commissioning of 1st unit of 365 MW LTOA may be provided for 365 MW and with commissioning of 2nd unit of 365 MW LTOA can be enhanced to 500 MW.
 
It was also agreed that the generation unit shall share the WR regional transmission charges corresponding to 365 MW on commissioning of 1st unit and 500 MW with commissioning of 2nd unit.
 
In case of any transmission constraint, suitable measures such as backing down may be required. It was also decided that M/s Torrent Power should expedite and complete the balance work of the dedicated transmission system at the earliest.

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