News Capsules

• Delivery of the first Nanos by Tata Motors is set to commence this month. However, auto parts suppliers are still undecided on whether they will set up a manufacturing base in Sanand in Gujarat, where the Nano mother plant is being set up. The plant is expected to begin production of the first cars by year-end.
• Steel Authority of India Ltd (SAIL) has terminated a Rs 2,000-crore order given to a Posco unit for constructing a blast furnace at Bhilai Steel Plant, as the South Korean firm failed to sign the contract despite several reminders.
• Pantaloon Retail India (PRIL) is planning to invest close to Rs 350 crore over the next one year to expand its value hypermarket chain Big Bazaar. The group plans to set up 50 new Big Bazaar srores and aims at growing its retail space by 35 per cent, from 5 million sq ft right now. The group would also allocate special focus on fashion and foods segments through setting up exclusive outlets for these categories.
• A consortium led by Kolkata-based SREI Infrastructure Finance Ltd has emerged as the lowest bidder for the Rs 1,141 crore road project on National Highway-91 in Uttar Pradesh.
• With the producers-multiplex owners’ row over, Cinemax is set to revive its expansion plans in Gujarat. The multiplex chain, which recently launched its second property in Ahmedabad, will be investing around Rs 18-20 crore by the end of financial year 2009-10.