RIL, Shyam Telecom, SAIL likely to see some action today

Private sector petroleum giant Reliance Industries (RIL) is expected to receive a $400 million loan guarantee from the US Export-Import (Exim) Bank. The bank has approved the lending facility to be used by RIL for purchase of US engineering services, oil field equipment, offshore platform support and drill and well services for its exploration and production initiatives in the Krishna Godavari basin

Infosys Technologies’ business process outsourcing (BPO) subsidiary, Infosys BPO, has launched its second BPO campus at Mahindra World City, the Special Economic Zone (SEZ) in Jaipur, Rajasthan. The company will infuse Rs 531 crore towards the new site at Jaipur in phases.

Mobile operator Shyam Telecom, has joined the group of top telecom companies of the country like Reliance Communications and Tata Indicom by getting pan-India spectrum for launching mobile services. Russian communications major Sistema holds a majority stake in the company. The company has been allotted spectrum in CDMA technology platform. It has received licenses for 21 circles except Rajasthan, where it is already offering services under the brand name Oasis.

Shriram Properties plans to roll out a separate division for developing malls. The company aims to infuse over Rs 3,500 crore over four years to develop malls. The company will undertake work of mall development in phases. In the first phase, the company has selected Kolkata, Chennai and Visakhapatnam to build up a total of 20 million sq ft of retail space with an investment of Rs 630 crore. The company is in talks leading global mall development firms to administer the three properties.

Steel Authority of India (SAIL) has launched the first chief expansion project for boosting its iron ore loading facilities at Bolani mines in Orissa. The company has made an investment of Rs 120 crore towards this expansion plan.