Orix Group, the Japanese financial services company, has picked up a 49% stake in the wind energy business of the Indian based Infrastructure Leasing & Financial Services Ltd (IL&FS). The company has a total wind energy capacity of 1,004 MW, of which 775 MW is operational and the remaining is under construction. The Indian company feels that the deal will help execute its development pipeline of an additional 1,000 MW in wind energy assets. Under the deal, the two companies also plan to implement 2,000 MW of solar power projects in India.
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The Indian Sugar Mills Association (ISMA) has stated that so far India has contracted to export 1.3 million tonnes of sugar in the 2015-16 marketing year started on Oct. 1. Of this, 1 million tonnes have already been exported. Globally, India is the second largest producer of sugar and this exports could limit a rally in global prices. According to Abinash Verma, Director General of the Indian Sugar Mills Association, Chinese imports via Myanmar are facilitating Indian mills in their attempts to sell overseas.
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Tin, a metal mostly used as solder for electrical circuits, is facing a supply slump due to several factors. There is a prolonged drop in mining and the demand for tin continues to remain strong from manufacturers, from makers of food cans and building materials to iPads, smart phones, cars and Oscar statuettes. Following a three-year slump that discouraged investments in mines and smelters, big exporters like Indonesia and Myanmar have shipped less. Industry forecasts show that supplies of tin in 2016 will be the lowest in relative to demand in almost two decades. Tin on the London Metal Exchange has surged into a bull market, after prices in January were at their lowest since 2009.
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UK’s Ineos Group is considering expanding its US plants to take advantage of the low-cost natural gas liquids that are used to make ethylene and plastics. The proposed expansion plans include adding 250 million to 1 billion pounds of annual ethylene production at its Chocolate Bayou site south of Houston and adding the production capacity of polypropylene and alpha-olefins at the site. The final decisions on all three investments will be made within a year, with the expanded ethylene output to be available early next decade.
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