Chennai: The North Chennai Thermal Power Station stage I and II will be commissioned by January and March 2012 to give Tamil Nadu an additional power of 1,200 MW (2 X 600), according to Mr Natham R. Viswanathan, Tamil Nadu Minister for Electricity.
“We are on schedule, and the project will help improve the power situation in the State,” he told newspersons after reviewing the North Chennai Thermal Power project (and the NTECL project of a joint venture of NTPC and TNEB).
The Minister also reviewed the coal handling facilities at Ennore port in catering to the transport of coal for the additional 3,300 MW Tangedco projects being commissioned in 2012.
The Minister said “We are speeding up all ongoing projects and taking measures to reduce power demand and increase the supply to provide un-interrupted reliable power supply to all consumers in the State by August 2012,” he said.
Apart from the share from the proposed capacity addition through central sector, the project wing of Tangedco is expediting in commissioning of five coal-based thermal power projects under the State sector and joint venture with NTPC before the end of Eleventh Plan Period itself (December 2011 to March 2012), he said.
Currently, the required coal from various mines for the existing power stations such as EPS – 450 MW, NCTPS stage I (630 mw) and MTPS stage I and II (840 MW) is being handled at Ennore port. Further, the coal required for the forthcoming projects is also proposed to be handled at the port.
Success in my Habit
Friday, August 12, 2011
TCS and SMU sign an agreement to set up iCity Lab at SMU
New Delhi: Tata Consultancy Services (TCS), a leading information technology (IT) services, business solutions and consulting firm, and Singapore Management University (SMU) have announced the establishment of the TCS-SMU iCity Lab. The lab would be located at SMU. Initially, TCS will directly invest S$ 6 million (US$ 4.94 million) in the intelligent city - iCity - Lab over the next three years. The iCity Lab will be located within SMU’s School of Information Systems (SIS), and will draw on faculty from SIS and from the other parts of SMU.
The collaboration agreement states that both the organisations are partnering to form a new research facility to develop industry standards and IT frameworks for the emerging iCity model of urban development. The investment would also include providing scholarship funds for SMU post-graduate students in Information Systems Technology & Management, and research funds for SMU faculty.
The iCity Lab will be a digitally interactive center where city managers and planners from the urban areas of surrounding countries can come to visualise and interactively explore scenarios for transitioning to the new generation of cloud-based information service delivery. The lab will also assist the Government and commercial organisations through the rapid development and proto-typing of iCity solutions in the context of real-world scenarios.
The iCity Lab will leverage TCS’ existing suite of urban IT applications, as well as its large global organisation and partner ecosystem. The lab will also carry out R&D and solution development in the areas of cloud platforms and software solutions, mobile applications, business analytics combined with consumer, citizen and social analytics, the Internet-of-Things, and also in the areas of business models for developing, scaling and operating cloud-based iCity solution platforms.
Strategically located in Singapore, the TCS-SMU iCity Lab is well positioned to be a regional hub for the development of intelligent city IT architecture and solutions. The Lab will work along with selected partnering cities in China, India and other rapidly developing ASEAN countries to create urban management solutions. The outputs of the joint TCS-SMU effort will be to create holistic solutions and transition frameworks, service related process models, and working prototypes of new cloud-based IT service delivery solutions for delivering city services for health-care, education, utilities, environmental management, transport, public safety and security, together with related G2C & G2B, and citizen social media services.
“This industry-university partnership is a first of its kind in Asia-Pacific for integrating cloud technology with the relevant business know-how to create urban management IT solutions,” according to Professor Steven Miller, Dean, School of Information Systems, SMU.
“TCS’ investment in this joint initiative with SMU strengthens our commitment to Singapore, which we see as a hub of innovation in in Asia”, added Girija Pande, Chairman, TCS (Asia-Pacific). “Tomorrow’s cities will be specifically designed and built with a sophisticated IT backbone to enable integrated urban management, improved quality of life for citizens, and inclusive economic, social and sustainable growth. The TCS-SMU iCity Lab is particularly relevant for fast growing economies like China, India and others in the region. Globally over US$ 100 billion is expected to be invested in the intelligent city segment over the next 10 years,” added Pande.
The partnership combines TCS’ industry leading IT services expertise and culture of innovation with SMU’s worldwide recognised focus on research and education and for the world of business and management across both the public and private sectors.
The collaboration agreement states that both the organisations are partnering to form a new research facility to develop industry standards and IT frameworks for the emerging iCity model of urban development. The investment would also include providing scholarship funds for SMU post-graduate students in Information Systems Technology & Management, and research funds for SMU faculty.
The iCity Lab will be a digitally interactive center where city managers and planners from the urban areas of surrounding countries can come to visualise and interactively explore scenarios for transitioning to the new generation of cloud-based information service delivery. The lab will also assist the Government and commercial organisations through the rapid development and proto-typing of iCity solutions in the context of real-world scenarios.
The iCity Lab will leverage TCS’ existing suite of urban IT applications, as well as its large global organisation and partner ecosystem. The lab will also carry out R&D and solution development in the areas of cloud platforms and software solutions, mobile applications, business analytics combined with consumer, citizen and social analytics, the Internet-of-Things, and also in the areas of business models for developing, scaling and operating cloud-based iCity solution platforms.
Strategically located in Singapore, the TCS-SMU iCity Lab is well positioned to be a regional hub for the development of intelligent city IT architecture and solutions. The Lab will work along with selected partnering cities in China, India and other rapidly developing ASEAN countries to create urban management solutions. The outputs of the joint TCS-SMU effort will be to create holistic solutions and transition frameworks, service related process models, and working prototypes of new cloud-based IT service delivery solutions for delivering city services for health-care, education, utilities, environmental management, transport, public safety and security, together with related G2C & G2B, and citizen social media services.
“This industry-university partnership is a first of its kind in Asia-Pacific for integrating cloud technology with the relevant business know-how to create urban management IT solutions,” according to Professor Steven Miller, Dean, School of Information Systems, SMU.
“TCS’ investment in this joint initiative with SMU strengthens our commitment to Singapore, which we see as a hub of innovation in in Asia”, added Girija Pande, Chairman, TCS (Asia-Pacific). “Tomorrow’s cities will be specifically designed and built with a sophisticated IT backbone to enable integrated urban management, improved quality of life for citizens, and inclusive economic, social and sustainable growth. The TCS-SMU iCity Lab is particularly relevant for fast growing economies like China, India and others in the region. Globally over US$ 100 billion is expected to be invested in the intelligent city segment over the next 10 years,” added Pande.
The partnership combines TCS’ industry leading IT services expertise and culture of innovation with SMU’s worldwide recognised focus on research and education and for the world of business and management across both the public and private sectors.
Google Plus Games arrive to challenge Facebook
Here come the Google Plus games. Google has announced a big move toward mainstream adoption today, integrating Web-based games within the brand new social network. 'We want to make playing games online just as fun, and just as meaningful, as playing in real life,' the announcement says. Titles include Angry Birds, Bejeweled Blitz, Zynga Poker and Sudoku. Google has launched a new Google Plus Platform Blog to help encourage more.
Google seems a bit concerned about the distraction factor, though, and it wants to make sure these games don't get in the way of your +1ing, sharing and other important Google Plus business. 'Games in Google Plus are there when you want them and gone when you don't,' the announcement says. 'If you're not interested in games, it's easy to ignore them.'
Google seems a bit concerned about the distraction factor, though, and it wants to make sure these games don't get in the way of your +1ing, sharing and other important Google Plus business. 'Games in Google Plus are there when you want them and gone when you don't,' the announcement says. 'If you're not interested in games, it's easy to ignore them.'
Google Chrome Beta Now Supports C/C++
Google has been working on Native Client (aka NaCl), an SDK that brings C/C++ functionality to browsers since at least last year, and now the latest Google Chrome beta version includes NaCl. NaCl uses an API called 'Pepper' that provides HTML5 bindings for C or C++ . (NaCl is the molecular formula for salt. Salt and pepper. Get it?)
Google has also promised to make NaCl available as a plugin for other browsers. What this means is that cloud-based applications may be able to execute code at a desktop level of sophistication, and that Google Chrome OS will soon be able to run these types of applications as well. It's further blurring of the lines between Web/cloud and desktop applications.
According to Google's announcement:
Native Client allows C and C++ code to be seamlessly executed inside the browser with security restrictions similar to JavaScript. Native Client apps use Pepper, a set of interfaces that provide C and C++ bindings to the capabilities of HTML5. As a result, developers can now leverage their native code libraries and expertise to deliver portable, high performance web apps.
Google also announced the Web Audio API, which brings advanced audio capabilities to JavaScript. This will further break down the barrier between what it is and isn't possible for browser based applications to do.
Google first previewed NaCl for Chromium in May of 2010.
Google has also promised to make NaCl available as a plugin for other browsers. What this means is that cloud-based applications may be able to execute code at a desktop level of sophistication, and that Google Chrome OS will soon be able to run these types of applications as well. It's further blurring of the lines between Web/cloud and desktop applications.
According to Google's announcement:
Native Client allows C and C++ code to be seamlessly executed inside the browser with security restrictions similar to JavaScript. Native Client apps use Pepper, a set of interfaces that provide C and C++ bindings to the capabilities of HTML5. As a result, developers can now leverage their native code libraries and expertise to deliver portable, high performance web apps.
Google also announced the Web Audio API, which brings advanced audio capabilities to JavaScript. This will further break down the barrier between what it is and isn't possible for browser based applications to do.
Google first previewed NaCl for Chromium in May of 2010.
Friday, July 29, 2011
TC to invest Rs 5,000 crore for buying shares of rivals FMCG, IT and agri-products companies : YC Deveshwar
KOLKATA: ITC plans to invest up to Rs 5,000 crore buying shares of its rivals across sectors it operates in, its chairman YC Deveshwar said.
"We currently have a liquidity in our books to the tune of Rs 4,000-5,000 crore of funds. We would like to deploy it as equity investments in sectors where we operate, have a thorough understanding and hence feel safer about our investment," he told newsmen after the company's 100th AGM here on Friday.
The cigarettes-to-hotels conglomerate will look at a wide range of rival companies in FMCG, IT and agri-products for treasury investment. ITC also plans to get into dairy business, making pasteurised milk, milk powder, cheese, milk chocolates and butter, Deveshwar told the AGM. "It's actually a compliment to rivals if we invest in them. As far as I know, some of them are actually happy with our investment," said Deveshwar.
ITC's investment inEast India Hotels (EIH) andHotel Leelaventure have yielded handsome returns. The company boughtEIH shares at Rs 35, and on Friday it closed at Rs 96.05 on the BSE. Hotel Leelaventure share closed at Rs 45.75. ITC also holds stakes in cigarette companyVST Industries and food companyAgro Tech Foods, which makes Sundrop oil and ACT II popcorn.
ITC, which holds little less than 15% in EIH and Leelaventure, had at one point created a takeover threat in both these companies. Asked whether ITC may increase its stake in EIH and Leelaventure up to 25%-the new trigger point for mandatory buyout offer as per market regulator Sebi's new takeover code-Deveshwar said the company will do so if the share price is attractive. "It will be decided by the treasury. If required, we may also sell shares if prices are attractive," he said.
ITC also plans to enter the dairy business by rolling out products like pasteurised milk, skimmed milk powder, cheese, milk chocolates and butter. "We are starting a project in Munger in Bihar where we are engaged in animal husbandry project to improve the yield of cattle. The first products to be launched in the market will be ghee and skimmed milk powder," he said.
Deveshwar said in the AGM that ITC plans to turn its personal care and branded food business profitable over the next six year.
"We currently have a liquidity in our books to the tune of Rs 4,000-5,000 crore of funds. We would like to deploy it as equity investments in sectors where we operate, have a thorough understanding and hence feel safer about our investment," he told newsmen after the company's 100th AGM here on Friday.
The cigarettes-to-hotels conglomerate will look at a wide range of rival companies in FMCG, IT and agri-products for treasury investment. ITC also plans to get into dairy business, making pasteurised milk, milk powder, cheese, milk chocolates and butter, Deveshwar told the AGM. "It's actually a compliment to rivals if we invest in them. As far as I know, some of them are actually happy with our investment," said Deveshwar.
ITC's investment inEast India Hotels (EIH) andHotel Leelaventure have yielded handsome returns. The company boughtEIH shares at Rs 35, and on Friday it closed at Rs 96.05 on the BSE. Hotel Leelaventure share closed at Rs 45.75. ITC also holds stakes in cigarette companyVST Industries and food companyAgro Tech Foods, which makes Sundrop oil and ACT II popcorn.
ITC, which holds little less than 15% in EIH and Leelaventure, had at one point created a takeover threat in both these companies. Asked whether ITC may increase its stake in EIH and Leelaventure up to 25%-the new trigger point for mandatory buyout offer as per market regulator Sebi's new takeover code-Deveshwar said the company will do so if the share price is attractive. "It will be decided by the treasury. If required, we may also sell shares if prices are attractive," he said.
ITC also plans to enter the dairy business by rolling out products like pasteurised milk, skimmed milk powder, cheese, milk chocolates and butter. "We are starting a project in Munger in Bihar where we are engaged in animal husbandry project to improve the yield of cattle. The first products to be launched in the market will be ghee and skimmed milk powder," he said.
Deveshwar said in the AGM that ITC plans to turn its personal care and branded food business profitable over the next six year.
JLL launches separate consultation arm for non-realty firms
NEW DELHI: The country's largestproperty consultantJones Lang LaSalle India today said it has started a new arm to service non-realty focused companies that want to put in money in the sector as an investment purpose only.
The company has launched a new division -- JLL Corporate Finance, which has already brokered some high profile deals such asJet Airways tying up with Godrej Properties to develop 2.5 acres land in Bandra Kurla Complex andMafatlal Industries selling 7.6 acres land to Piramal Realty for Rs 605.80 crore.
"Real estate as an investment and asset class has existed in India almost forever. However, this sector has also been limited in many respects by a severe dearth of information.
"JLL Corporate Finance will assist corporates to make informed decisions about acquiring, disposing of or optimally utilising their real estate, regardless of whether they occupy it or have acquired it purely from an investment perspective," Jones Lang LaSalle (JLL) India Chairman and Country Head Anuj Puri said in a statement.
The consultant firm said every business is functionally into real estate as traditionally all Indian corporates have parked funds in this sector when they have excess liquidity, especially when they perceive the property market to be down.
However,JLL India said not all companies or businesses have has the expertise required to make sound business decisions about their realty holdings.
"During times of market improvement or when they require liquidity to rake back into their business, they tend to monetise their real estate holdings," it added.
JLL Corporate Finance Managing Director Ambar Maheshwari said the companies, for whom real estate is not a core business focus, are engaged in such dealings on a gut-feel and promoter-driven perspective.
"Such a perspective can only come with a sound understanding of the real estate sector, which is extremely important when it comes to addressing the shareholder value issue. Real estate is a substantial asset class and unless corporates optimise the returns their real estate portfolios yield, shareholder value is compromised," he added.
The company has launched a new division -- JLL Corporate Finance, which has already brokered some high profile deals such asJet Airways tying up with Godrej Properties to develop 2.5 acres land in Bandra Kurla Complex andMafatlal Industries selling 7.6 acres land to Piramal Realty for Rs 605.80 crore.
"Real estate as an investment and asset class has existed in India almost forever. However, this sector has also been limited in many respects by a severe dearth of information.
"JLL Corporate Finance will assist corporates to make informed decisions about acquiring, disposing of or optimally utilising their real estate, regardless of whether they occupy it or have acquired it purely from an investment perspective," Jones Lang LaSalle (JLL) India Chairman and Country Head Anuj Puri said in a statement.
The consultant firm said every business is functionally into real estate as traditionally all Indian corporates have parked funds in this sector when they have excess liquidity, especially when they perceive the property market to be down.
However,JLL India said not all companies or businesses have has the expertise required to make sound business decisions about their realty holdings.
"During times of market improvement or when they require liquidity to rake back into their business, they tend to monetise their real estate holdings," it added.
JLL Corporate Finance Managing Director Ambar Maheshwari said the companies, for whom real estate is not a core business focus, are engaged in such dealings on a gut-feel and promoter-driven perspective.
"Such a perspective can only come with a sound understanding of the real estate sector, which is extremely important when it comes to addressing the shareholder value issue. Real estate is a substantial asset class and unless corporates optimise the returns their real estate portfolios yield, shareholder value is compromised," he added.
Ford to create 5,000 jobs in Gujarat
GANDHINAGAR: US automobile majorFord will invest $1 billion (Rs.4,000 crore) to manufacture cars and engines at an integrated facility at Sanad in Gujarat, generating 5,000 jobs, the company announced Thursday.
Ford has entered signed a memorandum of understanding (MoU) with theGujarat government to construct the facility, a company statement said. The construction of both the plants will begin later this year, with the first vehicle and engine scheduled to come off the line in 2014, it added.
"We selected Gujarat because of its pro-business environment, infrastructure, access to ports in northwestern India and skilled workforce," said Joe Hinrichs, president and chief executive, Ford Asia Pacific and Africa regions.
"The facilities (will be used for) stamping, body, paint and assembly operations for vehicle manufacturing, as well as machining and assembly operations for engine manufacturing," the statement said.
"The vehicle manufacturing plant will have an initial annual capacity of 240,000 units, and the engine plant will have an initial annual capacity of 270,000 engines," the statement said.
Ford has entered signed a memorandum of understanding (MoU) with theGujarat government to construct the facility, a company statement said. The construction of both the plants will begin later this year, with the first vehicle and engine scheduled to come off the line in 2014, it added.
"We selected Gujarat because of its pro-business environment, infrastructure, access to ports in northwestern India and skilled workforce," said Joe Hinrichs, president and chief executive, Ford Asia Pacific and Africa regions.
"The facilities (will be used for) stamping, body, paint and assembly operations for vehicle manufacturing, as well as machining and assembly operations for engine manufacturing," the statement said.
"The vehicle manufacturing plant will have an initial annual capacity of 240,000 units, and the engine plant will have an initial annual capacity of 270,000 engines," the statement said.
MediaTek buys 10% in Spice Digital for $20 million
NEW DELHI: Taiwan's MediaTek, maker of chips used in mobile phones, picked up a 10% stake in Indian value-added services playerSpice Digital for $20 million, valuing the company at $200 million, or 883 crore.
MediaTek chairman Ming-Kai Tsai said: "Through this investment in Spice Digital, we are hoping to capitalise on its market potential and reinforce its strong operator relationship and leading position in India, SEA, Africa and Middle East."
This is the latest move by MediaTek, which already has presence in India, to expand into the fast growing economy and its booming telecom market. Mobile value-added service market in India is expected to grow 100% over five years and will constitute about 10% of total telecom revenue for Indian operators, according to market research.
MediaTek chairman Ming-Kai Tsai said: "Through this investment in Spice Digital, we are hoping to capitalise on its market potential and reinforce its strong operator relationship and leading position in India, SEA, Africa and Middle East."
This is the latest move by MediaTek, which already has presence in India, to expand into the fast growing economy and its booming telecom market. Mobile value-added service market in India is expected to grow 100% over five years and will constitute about 10% of total telecom revenue for Indian operators, according to market research.
ONGC, Sistema may soon merge assets in Russia
NEW DELHI: Oil and Natural Gas Corporation (ONGC) is scrutinising data of Russian blocks of theSistema group, preparatory to finalising a seven-month old proposal to merge their assets in Russia to create giant energy firm that will be 25% owned by Indian firm's overseas armONGC Videsh (OVL), two oil ministry officials said. They said Sistema was also studying data of OVL's Russian assets held by Imperial Energy.
"The valuation of companies will be ascertained after that," one official said, requesting anonymity.OVL acquired Imperial Energy in 2009 for $2.1 billion. OVL managing directorJoeman Thomas confirmed the development. "We have received data from Sistema very recently. It may take couple of months to analyse data before we take a decision," he told ET.
Last December, energy majors of two countries had announced a mega-merger of three companies - Bashneft, RussNeft and Imperial Energy - that would make ONGC a shareholder in Russian firms' annual oil production of 25 million tonnes, refining capacity of 20 million tonnes a year, and discovered oilfields Trebs and Titov. The merger is expected to bail out Imperial Energy that is struggling to be profitable due to high taxes imposed on foreign oil and gas in Russia.
Earlier, Thomas told reporters the company was expecting a tax relief from the Russian authorities. "So far, we have been able to manage operating profit of $15-16 per barrel before capex and opex (capital expenditure and operating expenditure)," he said. India is demanding exemption from mineral extraction tax and a 10-year tax holiday from export duty for Imperial Energy as its assets are located in difficult geographical terrain.
Russia provides tax relief to companies operating in similar geographical regions such as East Siberia. The proposed merger deal will also give ONGC an immediate access to the biggest discovered oilfields in Russia, Trebs and Titov, which India was eyeing for a long time. The fields have estimated 200 million tonnes recoverable reserves, equivalent to 35% of ONGC's total oil reserves. The deal is significant for India that imports 80% of the oil it consumes.
The deal, which does not involve any cash transaction, was announced in December 21, 2010, during the official visit of PresidentDmitry Medvedev to India. Sistema has 75% direct stake in Bashneft that produces 13 million tonnes of oil from fields in Russia.
"The valuation of companies will be ascertained after that," one official said, requesting anonymity.OVL acquired Imperial Energy in 2009 for $2.1 billion. OVL managing directorJoeman Thomas confirmed the development. "We have received data from Sistema very recently. It may take couple of months to analyse data before we take a decision," he told ET.
Last December, energy majors of two countries had announced a mega-merger of three companies - Bashneft, RussNeft and Imperial Energy - that would make ONGC a shareholder in Russian firms' annual oil production of 25 million tonnes, refining capacity of 20 million tonnes a year, and discovered oilfields Trebs and Titov. The merger is expected to bail out Imperial Energy that is struggling to be profitable due to high taxes imposed on foreign oil and gas in Russia.
Earlier, Thomas told reporters the company was expecting a tax relief from the Russian authorities. "So far, we have been able to manage operating profit of $15-16 per barrel before capex and opex (capital expenditure and operating expenditure)," he said. India is demanding exemption from mineral extraction tax and a 10-year tax holiday from export duty for Imperial Energy as its assets are located in difficult geographical terrain.
Russia provides tax relief to companies operating in similar geographical regions such as East Siberia. The proposed merger deal will also give ONGC an immediate access to the biggest discovered oilfields in Russia, Trebs and Titov, which India was eyeing for a long time. The fields have estimated 200 million tonnes recoverable reserves, equivalent to 35% of ONGC's total oil reserves. The deal is significant for India that imports 80% of the oil it consumes.
The deal, which does not involve any cash transaction, was announced in December 21, 2010, during the official visit of PresidentDmitry Medvedev to India. Sistema has 75% direct stake in Bashneft that produces 13 million tonnes of oil from fields in Russia.
Subscribe to:
Posts (Atom)