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Sharing details of the Gopalpur SEZ project, Tata Steel said it would invest Rs800 crore as anchor investor in the 50,000-tonne ferrochrome and 0.5-MT rolling mill.
We are investing Rs8,000 crore in the current fiscal, which will be in the Jamshedpur plant, Tata Steel managing director H. M. Nerurkar said on Friday.
Tata Steel global debt equity is 1.5:1 but in all future projects the company would aim to keep it at 1:1.
Tata Steel to pump Rs8,000 crore in Jamshedpur in FY12 – livemint.com.
Vijaya Bank posted more than a 58% fall in net profit in the June quarter, on higher provisioning costs, and NIM dropped to 2.3% from 2.9% a year ago. High interest rates have hurt business growth and new investments.
Vijaya Bank cuts FY12 NIM target, see growth challenge – livemint.com.
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According to JP Morgan the biggest impact of a US downgrade will be on tri-party agreements in Europe and the US repo market.
Certain tri-party agreements have strict ratings requirements which would result in US Treasuries no longer being accepted as collateral.
“If the US sovereign were no longer rated Triple A, US Treasuries would not be eligible anymore.
According to the JP Morgan research note, “US money market funds would not be required to sell US Treasury Securities in the event of a US downgrade, it is investor redemptions that pose most risk.
“Many US investors will remain loyal and patriotic to Treasuries but for European and Asian investors they will be looking for alternatives,” he said.
Foreign central banks who hold around USD3.5trn of US Treasury securities are already seeking alternatives to US Treasuries.
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The state wildlife board has decided to scrap the Rs 27,000 crore integrated steel plant of 6 million TPA (tonnes per annum) capacity proposed to come up in Bellary district adjoining the Daroji Bear Sanctuary.
After many deliberations and field visits, the state wildlife board and forest officials found that the site location was within the proposed eco-sensitive zone of the bear sanctuary.
The proceedings of the fourth meeting of the state wildlife board conducted by former CM B S Yeddyurappa on July 26 quoted the issues as: “Some part of the proposed areas include reserved forests, deemed forests and fall within the proposed eco-sensitive zone of Daroji Wildlife Sanctuary.
Within a 10 km radius of the proposed site, are forests like Joga and Billakallu, Donimalai and Torangallu reserve forests.
