Amazon forays into furniture sales, going to set up 5 more warehouses

Amazon forays into furniture sales, going to set up 5 more warehouses

E-commerce major, Amazon India has forayed into furniture sales and would set up five more warehouses in the country by the end of the current fiscal year, a top official said. The company has just launched its range of furniture products and would set up three out of the five warehouses in Tamil Nadu, said […]

With demands set to pick up, UltraTech cement to grow faster than industry

With demands set to pick up, UltraTech cement to grow faster than industry

UltraTech Cement, the country’s largest Cement company, has given a guidance of 7% growth in cement demand in FY17, higher than 4-4.5% in FY16. Given its size, cost advantage and diversified geographical presence, UltraTech is expected to clock 100-150 basis points higher growth than the cement industry. Analysts say that the 7% demand growth for […]

Shree Cement to set up Rs 600 crore cement plant in Jharkhand

Shree Cement to set up Rs 600 crore cement plant in Jharkhand

Shree Cement, mid-sized cement manufacturer with operations in multiple states, has signed MOU with the Jharkhand government to set up a two-million tons grinding unit in Seraikela Kharsawan district involving an investment of Rs 600 crore. The announcement comes on the back of a road show organized by the Jharkhand government in Hyderabad to attract […]

India and US agree to enhance cooperation in port development

India and US agree to enhance cooperation in port development

Indian officials said American Ports have evinced a keen interest in a comprehensive port-led development, especially the ambitious Sagarmala program, as the Union Road Transport and Highways Minister Nitin Gadkari concluded his week-long trip. During his meeting with officials, Gadkari explored joint venture opportunities with India’s flagship container handling Jawaharlal Nehru Port (JNPT) to promote […]

Highway builders choose hybrid annuities for financial health

Highway builders choose hybrid annuities for financial health

The hybrid annuity model introduced by the National Highways Authority of India (NHAI) for road projects is becoming popular among construction companies as it reduces the dependence on borrowings. NHAI plans to award 6,631 km length of roads projects in FY17 worth Rs. 85,000 crore. Nearly half of them are expected to be in the […]

Cement volumes growth points to demand revival

Cement volumes growth points to demand revival

According to analyst estimates volume growth in cement increased by 12-18 per cent in the March 2016 quarter compared with a drop of 4.7 per cent in the corresponding quarter of the previous fiscal. This is the first double digit growth in six quarters reflecting a pickup in construction activity apart from benefits of lower input costs. The […]

Ikea asks Government to develop a furniture cluster  in Kandla

Ikea asks Government to develop a furniture cluster in Kandla

Swedish furniture major Ikea has asked the government to develop a “furniture cluster” near the Kandla port in Gujarat, shipping minister Nitin Gadkari told reporters. The company will not set up its own factory in the cluster but would provide designs to Indian companies that do, and shall source products from them. Ikea is the first foreign company […]