Business News

by -
0 65
IMFA, Mr T C Hota, Executive Vice President, BIPF (CSR arm of IMFA) receiving certificate of commendation from Mr Jaco Cillier, Country Director UNDP

By Nalini Sahu

BHUBANESWAR, JULY 21: Odisha’s premier industrial house and country’s leading ferro alloys producer Indian Metal Ferro Alloys Ltd (IMFA) has received “Economic Times-KPMG – 2-GOOD 4-GOOD” Corporate Social Responsibility Distinction in Corporate Governance, Strategy and Reporting (2015-16).

On behalf of IMFA, Mr T C Hota, Executive Vice President, BIPF (CSR arm of IMFA) received the certificate of commendation from Mr Jaco Cillier, Country Director UNDP, at a formal function held at New Delhi on July 19, 2017.

The Economic Times, along with KPMG in India as a knowledge partner has created “The ET 2 Good, 4 Good,” which is a certification scheme that certifies organizations based on their CSR performance, CSR processes and systems.

This is the first installment of CSR rating that the Economic Times and KPMG have developed as the gold standard of the good work done in CSR domain by corporates.

The recognition was provided after going through a meticulous evaluation and scrutiny process. The ratings were provided based on the weightage on level of CSR spend, high overall performance score and minimum cut-offs in each of the pillars.

The evaluation procedure involved a rigorous study and scoring of each filled-in questionnaire of the respective companies by a dedicated team of consultants at KPMG as per signed-off process and scoring guidelines.

Thereafter, a high powered jury comprising of eminent personalities associated with corporate boards, academia and policy makers vetted the evaluation process and individual scores.

This certificate is a recognition of IMFA’s culture and commitment towards social transformation and its continued effort at upholding the decades old IMFA legacy of ‘touching lives beyond business through‘ its CSR initiatives.

by -
0 72

By Our Correspondent

Bhubaneswar, July 18 : Utkal Alumina International Ltd., a unit of Aditya Birla Group has extended helping hand to the flood affected victims of Kalyansinghpur block in Rayagada district of Odisha.

While the company has installed two Generators for supply of power and drinking water in Kalyansinghpur, it has distributed clothes (sarees, T. shirts, blankets, lungi, towels, shawls etc), biscuits and mineral water in Jilunda, Kumbhariguda, Majhiguda, Kataguda and Kalyansinghpur.

The company has been working closely with the District Administration for the relief work. The relief materials of the company was despatched to the affected villages in presence of Mrs. Guha Poonam Tapas Kumar, Collector and District Magistrate and Mr. Muralidhar Swain, PA (ITDA) of Rayagada District. The relief materials are also being distributed for the second day today by the company.

Under the guidance of Mr. N. Nagesh, Unit Head & President and overall coordination of Mr. Raghunath Pratihari, Vice President – HR the materials have been distributed by a team of Utkal Alumina officials including Mr. Rajesh Patnaik, Mr A. Satyanarayana, Mr. BhaskarPatra, Mr. Bhojaraj Das, Mr. Brajabidhu Chhatoi, Mr. Girish Patra, Mr. BelakarNaik, Mr. SukantaMahapatra, Mr. K. Gowrisankar Rao and Mr. RabinarayanNayak. With its Alumina refinery plant in Kashipur block, the company has always been working with the people around for their development and is committed towards this.

by -
0 69

By Nalini Sahu

Bhubaneswar / Mumbai, July 17: Indian Metals & Ferro Alloys Ltd (IMFA), India’s leading fully integrated producer of ferro chrome on Tuesday announced its quarter 1 Q1 FY18 results for the period ended June 30th, 2017.

Highlights of Q1 FY18 vs Q1 FY17

  • Revenue of Rs 426.31 crores vs Rs 253.29 crores
  • Exports of Rs 376.84 crores vs Rs 217.42 crores
  • Net Profit of Rs 99.92 crores vs Rs (30.35) crores

Operational Highlights of Q1FY18 vs Q1 FY17

  • Ferro Chrome production of 51,798 tonnes, up 2% from 50,592 tonnes
  • Sales of 48,500 tonnes, down by 6% from 51,324 tonnes
  • Power generation of 230 MU vs 220 MU

Recent developments

  • Mining operations at Sukinda & Mahagiri resumed from June 23rd, 2017 after ‘Consent to Operate’ (CTO) was reinstated; CTO is valid as before until March 2021
  • 3 MW solar project at Therubali was formally inaugurated on July 4th, 2017

Commenting on the developments, Mr Subhrakant Panda, Managing Director & CEO said: “The first quarter of the current fiscal saw significant correction in ferro chrome prices though this came about after long term contracts were finalised; conversely, spot prices have moved up after finalisation of Q2 contracts. However, we see tremendous value in long term contracts as they provide off take assurance and, on average, better price realisation.

While the unfortunate closure of mining operations has had an impact, we are working hard to contain the fallout and minimise the loss of ferro chrome production. I am delighted with our first step into the renewable space and look forward to expanding solar power generation going ahead.”

 

by -
0 279
ME-10-11-12-S.indd

 

By Sukanta Mohanty

Bhubaneswar: Dhanuseri Tea, a leading tea brand with over 100 years of experience in the tea business, has entered into Oidsha market.

On April 1, renowned Bollywood actress Hema Malini and Dhanuseri Tea chairman and managing director Chandra Kumar Dhanuka launched the company’s two leading products – Lal Ghoda and Kala Ghoda- here at a city hotel.

Speaking on the occasion, CMD Mr Dhanuka said the two products would emerge as number one choice of the customers in Odisha in next 12 to 18 months.

Hema Malini said the taste of Dhanuseri Tea made her get associated with the company.

SB Trading and Company has been appointed as the C& F Dhansueri Tea.

As many as 100 dealers have been appointed in Odisha for distribution of the Lal Ghoda and Kala Ghoda products.

by -
0 191

By Our Correspondent
Bhubaneswar:  Corporation Bank Bhubaneswar Zone has  organized Blood Donation Camp at Capital hospital blood bank premises on the eve of bank’s 112th foundation day.  The event was attended Bhubaneswar Zone, Zonal Head, Bibekananda Sarangi and Zonal Office Staff and Staff of various branches has participated in the camp. Total 35 Units of blood being collected and it was bank Small step towards a noble cause.

by -
0 137

By Our Correspondent

Sambalpur : Punjab National Bank Celebrated International Women’s Day conducting various activities across Western Odisha which included one CSR Activity under PNB Prerana at Asha Niwas, Missionary of Charity, Sambalpur,  Road Safety Awareness Campaign at Ainthapalli, Sambalpur with full participation of Women Staff apart from Customer Meets and Credit Camps at different branches under Sambalpur Circle.

A gathering was organized at All Women Branch, Sambalpur to encourage Women Empowerment in presence of Suchi Singh, 1st Lady of Sambalpur District, Samikshya Nayak, Deputy Collector, Sambalpur and Sucharita Mohanty, President, PNB Prerana, Sambalpur and Sumanta Mohanty, Circle Head, Sambalpur and 200 Women across Sambalpur. Sanction letters were distributed to 35 SHG Groups. PNB Sanctioned around Rs. 500 Lac under Mudra, Stand Up India and other schemes to Women Borrowers on the day.

by -
0 122
????????????????????????????????????

By Sukanta Mohanty

Bhubaneswar: National Aluminium Company Limited (NALCO), the Navratna PSU, under Ministry of Mines, Govt. of India, has declared an interim dividend of 56%, i.e. Rs 2.80 per share of Rs 5 each, amounting to Rs.541.22 crore for the financial year 2016-17, on the paid-up equity share capital of Rs.966.46 crore.

This is the highest-ever dividend declared by the company since inception.

Shri Piyush Goyal, Union Minister of Power, Coal, New & Renewable Energy and Mines, Govt of India, was presented a cheque, amounting to Rs 403.62 crore by Dr. Tapan Kumar Chand, CMD, NALCO, in the presence of  Shri Arun Kumar, IAS, Secretary, Ministry of Mines, Govt of India and Shri Subhash Chandra, IFS, Joint Secretary, Ministry of Mines, Govt of India, as interim dividend on the 74.58 per cent shares held by the Govt of India, in New Delhi on 21st March 2017.

The Union Minister Shri Goyal appreciated the effective functioning of NALCO despite sluggishness in the market. Other senior officials of the Ministry and NALCO were present on the occasion.

NALCO, which started its commercial operations in 1987 has been earning profits consistently and has been declaring dividends since 1992. In 2015-16 fiscal, the company had declared a total dividend of Rs.467.13 crore.  It may be mentioned that since inception, NALCO has paid a total of Rs.6365 crore as dividend including Rs.5371 crore as share of Govt. of India.

by -
0 279

BY A K SAHOO

Sukinda, Jan. 24: Sukinda Chromite Mine( SCM) of Tata Steel, in Jajpur district of Odisha on Tuesday organised a two day long festival “Jaibakala Vividhata,” a programme on biodiversity.

The initiative was organized with an aim to sensitize the students and the community about the importance of preserving and protecting biodiversity through this unique initiative of art and painting.

Around 700 students, from SCM campus and nearby panchayats of Sukinda block including Ransaol, Chingudipal, Kaliapani, Dolapada, Birasal, etc., participated in the competition held during the occasion on paintings of animals and birds from any one of the categories like Extinct, Contemporary and Species they believe willcontinue to exist in future.  Apart from the school students, some village youth and women from the locality also participated in the competition.There was also a mimicry competition on various sounds of animals and birds for the students.

Dr. B K Pattnaik, Chairman, State Expert Appraisal Committee, Ministry of Environment, Forest & Climate Change,  Dr Prasad Das, Sr. Scientist, Odisha State Bio-Diversity Board, Mr. Jayant Kumar Das,  Sr Lecturer, B K College of Art and Crafts, Mr Raj Kumar Singh, Chief, Procurement, Tata Steel, Mr. Rajesh Patel, Chief, Mining, SCM addressed the gathering during the concluding ceremony and gave away prizes to the winners.

Commending Tata Steel for the initiative,Dr Pattnaik said that, such events would instill a feeling of love and belongingness towards nature and biodiversity in the minds of school children. Reinforcing Tata Steel’s commitment towards environment while formally launching the programme on January 23, 2017 Mr R R Satpathy, General Manager, Operations, Ferro Alloys and Minerals Division, Tata Steel said this is a part of a series of initiatives SCM is undertaking to create awareness on protection and preservation of biodiversity among the community particularly youngsters.

Noted artist Mr Badal Pramanik and his team from Jamshedpur and Mr Asis Saran, lecturer, B K College of Art and Crafts, Bhubaneswar and his team conducted workshop on sketch, drawing, clay making, art working on thermocol, etc. where more than 700 students participated.This is the second year in a row when the Jaibakala Vividhata programme is being organized in SCM. To spread awareness on man-animal conflict, particularly on death of elephants, a sand art was also made at the venue which was appreciated by the dignitaries and visitors.Among others present on the occasion,were Tata Steel officers, SCM Union Members, students, teachers and representatives from media.

As part of its commitment towards environment Tata Steel as a Company adopted the company-wide Biodiversity Policy in April 2016 which aims to achieve No Net Loss on biodiversity. For all its mines and collieries in the state of Jharkhand and Odisha, it has  developed Biodiversity Management Plans.

by -
0 279

By Suryanarayan Panda

SUKINDA, JAN. 15: Sukinda Chromite Mine (SCM) of Tata Steel,  located in Jajpur district of Odisha, has bagged 5 awards in various categories including Par Excellence award as the best mine amongst all participating mines of Odisha from the Indian Bureau of Mines (IBM), Bhuabneswar Region. On the concluding day of 19thAnnual Mines Environment and Mineral Conservation (MEMC) week  2016-17 celebration on January 13, 2017 at Bhuabneswar. SCM was adjudged first in Overall Performanceand  Systematic and Scientific development of mine, second in Dump Management and third position in Afforestation.

Mr Sabyasachi Mishra, Head, Mine, Sukinda Chromite Mine, Mr Nikhil Agarwal, Manager, Environment, Mr B R Dash, Sr, Manager, Mine Planning, SCM,  Mr K C Behera, President and Mr HariharBarik, General Secretary, SCM Workers’ Union received the awards on behalf of SCM.

Mr R K Sinha, Controller General, IBM, Chief Guest of the award giving ceremony, Mr Debidutta Biswal, Member Secretary, Odisha State Pollution Control Board, Mr A B Panigrahi, Controller of Mines, Central Zone, IBM, Nagpur and  Mr R Ganesam, Unit Head, UAIL gave away the awards.

Total 79 operating mines of Odisha including Iron, Manganese, Limestone, Granite, Chromite, etc .had participated in  it. The prizes were  given on the merit of environmental protection measures, soil conservation in the lease hold area, stakeholders management, sustainability measures taken in the mines. A panel of judges selected by IBM nominated the mine after rigorous assessment.

Being the first mine in the country to roll out Sustainable Development Framework in January 2016, a concept proposed and promoted by the Ministry of Mines, Government of India, for the development of culture of sustainable mining in the country, SCM had set the standards for best practices. It was also honoured with  the prestigious BalaGulshanTandon Excellence Award for  overall performance for the year 2015-16 given by Federation of Indian Mineral Industries (FIMI) in October 2016, the premier mining body of the country and  CII ITC Sustainability Award 2015 for Excellence in Corporate Social Responsibility.

By Nalini Sahu

Bhubaneswar, Jan. 14: Under the aegis of Indian Bureau of Mines Bhubaneswar Region, Utkal Alumina International Limited, an unit of Aditya Birla Group, on Friday organized the 19th Mines Environment & Mineral Conservation Week with great fan-fare here in the city.

On the concluding day ceremony on Friday, the Controller General of Mines of IBM Nagpur Mr R.K. Sinha addressed the gathering as chief guest.

While addressing the gathering Mr Sinha said The objective of this meet is to promote environment awareness in the mines and how to make them more competitive in the sector of environment as now-a-days environment and mineral conservation are two most important factors in mines. We have also advised the mining companies to solid-waste management, plantation, take measures to control air pollution, take steps for water discharge etc in the mining areas. For this we have added a marking system and this is the platform where we reward the good and ethical mining companies, Mr Sinha added.

In his address Mr N. Nagesh, the Unit Head of UAIL said that the introduction of  the Sustainable Development Framework (SDF) with a Star rating provision for a fare and transparency in the activities related to Systematic and Scientific Mine Development by the IBM has really encouraged the mining communities to develop a win-win situation between mining & environment winning the confidence of the local community.

In the meanwhile, specifically in the new MCDR IBM & Steel & Mines department have enforced strictly to adhere the exploration frame work to enhance the geological resource base. Further we came to know that, IBM has come up with the approval of mining plan / scheme thru online & within a much stipulated time frame, which is significantly appreciable. Hope in future, IBM will implement or adopt more and more scientific and systematic way to carry out the mining activities more smoothly and speedily, Mr Nagesh added.

Among others, Mr Debidutt Biswal, Member Secraetary OPCB, (Odisha Pollution Control Board), Mr A.B.Panigrahi , Controller of Mines (Central Zone),  were present as the Guest of Honour also, Director & Advisor of UAIL Mr S.K Mishra was present in this occasion . In the beginning Mr Ardhendu Mohapatra, the Joint President Corporate Affairs of Hindalco gave the welcome address. At last, Mr B R K Padhi, AVP Mines of UAIL extended vote of thanks. At last prizes were distributed to the winning mining companies and the children of the different schools of the adjacent villages of the mining region who were the winners in the different categories of various competitions those were held before. It is worthwhile to mention that Utkal Alumina has won the prize for remarkable contribution towards afforestation.

RANDOM POSTS

0 13
By Our Correspondent Bhubaneswar, Jan. 10: Bharatiya Janata Party spokesperson Sajjan Sharma on Wednesday pointed fingers at Bargarh superintendent of police B Jugal Kishore for...

Seo wordpress plugin by www.seowizard.org.