Johannesburg: Jindal Steel and Power, India's biggest producer of the alloy by market value, plans to spend $300 million in developing new and existing mines in Africa.
The move is part of the company's strategy to source coal assets abroad to meet raw material demand of its steel and power plants at home. Jindal Africa, the company's Africa subsidiary, would invest $250 million in developing a coalmine in Mozambique's coal-rich Moatize region, Ashish Kumar, CEO of Jindal Africa, told ET on the sidelines of an international mining meet.
He said the remaining funds would be used to expand the capacity of its mine in Piet Retief in South Africa's Mpumalanga province. Kumar said the Mozambique mine is expected to start operations this year, producing 1 million tonne of coal.
He said the company would raise its capacity to 10 mt over the next few years. The capacity of the South Africa mine would be raised from 0.8 mt to 1.3 mt by fiscal 2013, he said. The steel and power producer is expanding its footprint in Africa, a continent known for its rich and largely untapped mineral wealth.
Jindal Africa has so far acquired 30 prospecting licenses for coal, manganese , iron ore and diamonds in Tanzania, Zambia, Madagascar, Mozambique and South Africa. The group is also constructing rail and port infrastructure in Mozambique and has agreed to build a 2,600 MW thermal power plant in the country.
"We came into Africa only in 2008 and since then we have been investing in the projects," Kumar told Mining Indaba, a conference of mining companies from across the world. "It is only of late that we have decided to build our corporate brand presence across the continent ."
Jindal Africa was the first foreign company to secure a mining license in Mozambique. It was also the first to get into the difficult terrain south of Zambezi river. "Our presence there has opened up doors for many other investors to come into the region," said Manoj Gupta, country head of Jindal Africa.
"While we have made reasonable progress in Mozambique and South Africa, we are at an exploratory stage in Tanzania, Zambia and Madagascar. It will take us 2 to 3 years to take up mining there."
Success in my Habit
Monday, February 20, 2012
Bangalore, Ahmedabad and Kolkata IIMs make it to Asia-Pacific top 10 again
Bangalore: The Indian Institutes of Management (IIMs) - Bangalore, Ahmedabad and Calcutta - continue to be the quality B-schools in the country.
The trio has figured in the top 10 in the Asia-Pacific region. The QS Global 200 Business Schools Report 2012 has put these B-schools among other Indian schools in the global rankings.
IIM-Ahmedabad is ranked second, IIM-Bangalore's rank is fifth and IIM-Calcutta is ranked eighth.
IIM-A and IIM-C have shown the biggest improvement in employer opinion this year in the region by improving four places.
Indian School of Business has been ranked seventh, S P Jain Institute of Management and Research is at 16 and Indian Institute of Foreign Trade at 21.
INSEAD, Singapore is number one in the region for the third consecutive year. Melbourne Business School (University of Melbourne, Australia), NUS Business School, ( National University of Singapore) and University of New South Wales were some of the other institutes that featured among the top 10 in the region.
The QS global report, which originated in the early 1990s, provides a detailed overview of the most popular business schools around the world based on information given by global recruiters.
It lists out 200 business schools from which employers prefer to recruit MBAs. The ratings are made regionwise (Africa and the Middle East; Asia-Pacific; Europe; Latin America; North America) and MBA specialization ratings.
According to the report, even though business schools in the United States and Europe remain the most popular destinations for MBA, schools in other partsm, like in the Asia-Pacific, are gaining popularity.
"Business schools in the Asia-Pacific region are looking at the standard of top American and European institutions as indicators of how they compare and where they could improve. Furthermore, the economic growth in some Asian countries, particularly in China and India, has heightened the demand for more accredited business schools in the region in order to train the next generation of successful business leaders," says the report.
"IIM-B has shown gradual improvements in the ratings, climbing from sixth (2009) to fifth (2010) and this year missed the top cluster by just 2.7 points," the report says.
However, there is a worry about international student enrolment.
"Many of Asia's business schools lack in international student enrolment, causing concern among employers who are looking for graduates to work in a multinational environment," the report says.
The percentage of international students in IIM-A, IIM-B, IIM-C and ISB is 1, 10, 3 and 5 respectively.
The trio has figured in the top 10 in the Asia-Pacific region. The QS Global 200 Business Schools Report 2012 has put these B-schools among other Indian schools in the global rankings.
IIM-Ahmedabad is ranked second, IIM-Bangalore's rank is fifth and IIM-Calcutta is ranked eighth.
IIM-A and IIM-C have shown the biggest improvement in employer opinion this year in the region by improving four places.
Indian School of Business has been ranked seventh, S P Jain Institute of Management and Research is at 16 and Indian Institute of Foreign Trade at 21.
INSEAD, Singapore is number one in the region for the third consecutive year. Melbourne Business School (University of Melbourne, Australia), NUS Business School, ( National University of Singapore) and University of New South Wales were some of the other institutes that featured among the top 10 in the region.
The QS global report, which originated in the early 1990s, provides a detailed overview of the most popular business schools around the world based on information given by global recruiters.
It lists out 200 business schools from which employers prefer to recruit MBAs. The ratings are made regionwise (Africa and the Middle East; Asia-Pacific; Europe; Latin America; North America) and MBA specialization ratings.
According to the report, even though business schools in the United States and Europe remain the most popular destinations for MBA, schools in other partsm, like in the Asia-Pacific, are gaining popularity.
"Business schools in the Asia-Pacific region are looking at the standard of top American and European institutions as indicators of how they compare and where they could improve. Furthermore, the economic growth in some Asian countries, particularly in China and India, has heightened the demand for more accredited business schools in the region in order to train the next generation of successful business leaders," says the report.
"IIM-B has shown gradual improvements in the ratings, climbing from sixth (2009) to fifth (2010) and this year missed the top cluster by just 2.7 points," the report says.
However, there is a worry about international student enrolment.
"Many of Asia's business schools lack in international student enrolment, causing concern among employers who are looking for graduates to work in a multinational environment," the report says.
The percentage of international students in IIM-A, IIM-B, IIM-C and ISB is 1, 10, 3 and 5 respectively.
Crowning glory: Indira Gandhi International Airport second best in the world
New Delhi: Delhi's IGI airport has been ranked the second-best airport in the world for 2011by theAirportsCouncil International. The airport scored this distinction in the category of airports with 25-40 million passengers per annum. Last year , it had been ranked fourth in the same category. The airport scored 4.72 of a possible 5 in the airport service quality index , coming 6in the overall airport ranking for 2011.
This is a massive jump for the airport which, before privatization in 2007, had scored 3.02 on the ASQ and did not manage a rank in the top 100. Delhi International Airport (P) Ltd (DIAL) commended the efforts of agencies such as customs , immigration , CISF , airlines , concessionaires , housekeeping and other support staff for contributing to the image make-over for the airport.
DIAL's CEO I Prabhakara Rao said : "IGIA has come a long way in the last five years since we took over. We have ensured that quality has become a way of life not just with DIAL employees , but with all stakeholders of the IGI airport family. We are confident that all 30 ,000 plus members of the IGI airport family will continue to strive for excellence and we hope to improve our position even further in the coming years."
IGI airport handled a record number of 35 million passengers in 2011. The airport has an annual passenger capacity of over 60 million of which terminal 3 can alone handle 34 million passengers. The airport also handled over 6 lakh tonnes of cargo and over 3 lakh aircraft movements in 2011.
Airports Council International is the only global trade representative of airports with 580 members operating from 1,650 airports in 179 countries and territories.
This is a massive jump for the airport which, before privatization in 2007, had scored 3.02 on the ASQ and did not manage a rank in the top 100. Delhi International Airport (P) Ltd (DIAL) commended the efforts of agencies such as customs , immigration , CISF , airlines , concessionaires , housekeeping and other support staff for contributing to the image make-over for the airport.
DIAL's CEO I Prabhakara Rao said : "IGIA has come a long way in the last five years since we took over. We have ensured that quality has become a way of life not just with DIAL employees , but with all stakeholders of the IGI airport family. We are confident that all 30 ,000 plus members of the IGI airport family will continue to strive for excellence and we hope to improve our position even further in the coming years."
IGI airport handled a record number of 35 million passengers in 2011. The airport has an annual passenger capacity of over 60 million of which terminal 3 can alone handle 34 million passengers. The airport also handled over 6 lakh tonnes of cargo and over 3 lakh aircraft movements in 2011.
Airports Council International is the only global trade representative of airports with 580 members operating from 1,650 airports in 179 countries and territories.
Consumer spending to rise 4 times by 2020, says a joint study by CII and Boston Consulting Group
Mumbai: Consumer spending in the country is likely to grow nearly four times in a decade to $3.6 trillion by 2020, driven by rising incomes and aspirations, widespread media proliferation and better physical reach across the country, says a study.
A joint report by Boston Consulting Group and industrial body Confederation of Indian Industry ( CII) says the overall consumer spending in 2010 was $977 billion. The study, 'The Tiger Roars - How a billion plus people consume and shop' , will be released on Thursday.
"The Indian consumer has shifted from forced denial to affordable indulgence," says Thomas Varghese, chairman of CII's national committee on retail and chief executive officer of Aditya Birla Retail. This "sensible consumption" has the potential to drive the economic growth of the country for years to come, he says.
Organised retail has developed an enabling environment to satisfy this consumption growth and allowing foreign retailers to invest in the country will boost it further, Varghese says. PepsiCo India Region Chairman & CEO Manu Anand, who is also the chairman of CII's national committee on FMCG, says that while the dramatic growth of the market is well known, the changing patterns of and attitudes toward consumption are not widely understood.
"It is critical for FMCG companies to understand the nature of this consumption demand and what is driving it," he says. "The Indian consumer pyramid is shaping into a diamond, but more importantly income is only one variable that is driving this consumption," he says. For instance, within the same income segment, attitudes and behaviours are dramatically different as consumers are trading up and down at the same time.
A joint report by Boston Consulting Group and industrial body Confederation of Indian Industry ( CII) says the overall consumer spending in 2010 was $977 billion. The study, 'The Tiger Roars - How a billion plus people consume and shop' , will be released on Thursday.
"The Indian consumer has shifted from forced denial to affordable indulgence," says Thomas Varghese, chairman of CII's national committee on retail and chief executive officer of Aditya Birla Retail. This "sensible consumption" has the potential to drive the economic growth of the country for years to come, he says.
Organised retail has developed an enabling environment to satisfy this consumption growth and allowing foreign retailers to invest in the country will boost it further, Varghese says. PepsiCo India Region Chairman & CEO Manu Anand, who is also the chairman of CII's national committee on FMCG, says that while the dramatic growth of the market is well known, the changing patterns of and attitudes toward consumption are not widely understood.
"It is critical for FMCG companies to understand the nature of this consumption demand and what is driving it," he says. "The Indian consumer pyramid is shaping into a diamond, but more importantly income is only one variable that is driving this consumption," he says. For instance, within the same income segment, attitudes and behaviours are dramatically different as consumers are trading up and down at the same time.
India's first monorail tested in Mumbai
Mumbai: The Mumbai Metropolitan Region Development Authority (MMRDA) on Saturday conducted an electrical trial run of the Mumbai monorail, from Wadala to Mysore Colony — a distance of 4.5 km. The first phase of the project, from Wadala to Chembur, is expected to be completed by November 2012. The project is being implemented by MMRDA, with Larsen & Toubro (L&T) and a consortium of Malaysian infrastructure Scomi Engineering.
Dilip Kawathkar, joint project director (PR), MMRDA, said: “This is one of the electrical trial runs that we conducted on Saturday. Phase-I of the monorail is expected to be completed by late October or November this year.”
The project that would connect Wadala to Chembur (8.26 km) in Phase-I and Jacob Circle to Wadala (11.28 km) in Phase-II, will reduce travel time between the two localities from 90 minutes to 44 minutes. The tentative fare structure on the stretch, according to MMRDA, will range from Rs 8 to Rs 20.
The project scope will involve design, construction, operation and maintenance (for three years) of the monorail system between Jacob Circle and Chembur. It is being done under an engineering, procurement and construction (EPC) contract.
The 19.56-km corridor will cost around Rs 2,460 crore (plus taxes) for the two phases. The second phase is expected to be completed by the second quarter of 2013. The civil work on the line in Phase-I is likely to end by August and the trial runs could begin thereafter.
Dilip Kawathkar, joint project director (PR), MMRDA, said: “This is one of the electrical trial runs that we conducted on Saturday. Phase-I of the monorail is expected to be completed by late October or November this year.”
The project that would connect Wadala to Chembur (8.26 km) in Phase-I and Jacob Circle to Wadala (11.28 km) in Phase-II, will reduce travel time between the two localities from 90 minutes to 44 minutes. The tentative fare structure on the stretch, according to MMRDA, will range from Rs 8 to Rs 20.
The project scope will involve design, construction, operation and maintenance (for three years) of the monorail system between Jacob Circle and Chembur. It is being done under an engineering, procurement and construction (EPC) contract.
The 19.56-km corridor will cost around Rs 2,460 crore (plus taxes) for the two phases. The second phase is expected to be completed by the second quarter of 2013. The civil work on the line in Phase-I is likely to end by August and the trial runs could begin thereafter.
Small IT cos will play a big role in future: Nasscom chief
Tenali: Small IT companies will play a big role in the growth of IT sector in the coming decade, according to Mr Rajendra Singh Pawar, Chairman of National Association of Software and Service Companies (Nasscom).
He was speaking here on Saturday evening after receiving the Twentieth Dr Y.Nayudamma Memorial Award from the Supreme Court Judge, Mr Justice Jasti Chelameswar.
Mr Pawar said by the end of the current financial year, the IT industry in the country would be of the size of $100 billion and by the end of 2020, the target of Nasscom was to achieve $225 billion, giving employment to 10 million people. Currently, 3 million people were employed in the sector.
He said Nasscom was making all attempts to bridge the digital divide in the country by taking IT to rural areas.
In the fields of education and medicine, he said IT would bring about a revolutionary change in the future. Unlike in the rest of the world, in India IT would reach the masses through the mobile phone.
He said Nasscom was also taking initiatives to minimise electronic waste and to make IT sector eco-friendly. He said the Andhra Pradesh Government was in the forefront in introducing IT in governance. Now the other states were emulating Andhra Pradesh, he added.
Citizens' services would be delivered in future by employing IT. In the agriculture sector too IT would play a big role in future, Mr Pawar said.
Middlemen would be eliminated and the farmer would get a fair price for his produce.
He recalled the services of the late Dr.Y.Nayudamma for development of science and technology in the country.
Mr Justice J. Chelameswar, Mr P. Vishnu Murthy, Managing trustee of Dr Y.Nayudamma memorial trust, Mr R. Sampath, senior journalist, and Mr Ratish Nayudamma, son of Y. Nayudamma, also spoke on the occasion.
He was speaking here on Saturday evening after receiving the Twentieth Dr Y.Nayudamma Memorial Award from the Supreme Court Judge, Mr Justice Jasti Chelameswar.
Mr Pawar said by the end of the current financial year, the IT industry in the country would be of the size of $100 billion and by the end of 2020, the target of Nasscom was to achieve $225 billion, giving employment to 10 million people. Currently, 3 million people were employed in the sector.
He said Nasscom was making all attempts to bridge the digital divide in the country by taking IT to rural areas.
In the fields of education and medicine, he said IT would bring about a revolutionary change in the future. Unlike in the rest of the world, in India IT would reach the masses through the mobile phone.
He said Nasscom was also taking initiatives to minimise electronic waste and to make IT sector eco-friendly. He said the Andhra Pradesh Government was in the forefront in introducing IT in governance. Now the other states were emulating Andhra Pradesh, he added.
Citizens' services would be delivered in future by employing IT. In the agriculture sector too IT would play a big role in future, Mr Pawar said.
Middlemen would be eliminated and the farmer would get a fair price for his produce.
He recalled the services of the late Dr.Y.Nayudamma for development of science and technology in the country.
Mr Justice J. Chelameswar, Mr P. Vishnu Murthy, Managing trustee of Dr Y.Nayudamma memorial trust, Mr R. Sampath, senior journalist, and Mr Ratish Nayudamma, son of Y. Nayudamma, also spoke on the occasion.
UST Global expands its footprints in India
Chennai: After being a prominent employer in the IT sector in tier 2 cities in Kerala, California-based IT services company UST Global has embarked on an expansion in Bangalore.
Company officials said UST Global's new facility in Bangalore can accommodate 500-600 associates, with the capacity to expand up to a headcount of 5,000. In Kerala, the company operates out of Thiruvananthapuram and Kochi.
UST Global chairman Satendra Gupta said the company's operations had been centred around India and the Philippines, and that it made sense to the company to step up its presence in India's IT capital.
Company country head Alexander Varghese said the availability of a large talent pool was one of the key attributes that went in favour of the company choosing Bangalore for expansion.
In Kerala, the company is building a campus in the Thiruvananthapuram special economic zone. The 3 million sq ft campus is expected to be a major hub for offshore IT services offered by the company, which focuses on delivering IT and business solutions to the Global 1,000 market.
Company officials said UST Global's new facility in Bangalore can accommodate 500-600 associates, with the capacity to expand up to a headcount of 5,000. In Kerala, the company operates out of Thiruvananthapuram and Kochi.
UST Global chairman Satendra Gupta said the company's operations had been centred around India and the Philippines, and that it made sense to the company to step up its presence in India's IT capital.
Company country head Alexander Varghese said the availability of a large talent pool was one of the key attributes that went in favour of the company choosing Bangalore for expansion.
In Kerala, the company is building a campus in the Thiruvananthapuram special economic zone. The 3 million sq ft campus is expected to be a major hub for offshore IT services offered by the company, which focuses on delivering IT and business solutions to the Global 1,000 market.
Infosys, Wipro among top global companies in smart-grid software
Chennai: Infosys and Wipro have been named among the top seven vendors in the world of smart-grid software, a recent research report of GTM Research has said. Smart grids are those that have electrical devices with embedded software that can give out a fund of data in order that the grid may be better managed. Software is a key part of smart grids.
GTM Research, a well-known greentech research company, sought to find out who the Big Fish are in each segment of smart grid software. Under the head ‘Utility systems development and integration, data analytics and cyber security', GTM has named seven companies. Infosys and Wipro are in the elite company of five other global giants – IBM, Oracle, Siemens, Accenture and Schneider Electric.
Even in this well-knit world, having two home-grown biggies is seen as an advantage because smart grid is an area that specially requires local knowledge. Several experts have commented on the uniqueness of the Indian grid and hence the uniqueness of the opportunities any revamping of it provides.
At a conference in Mumbai on smart grid, Dr Rajit Gadh, Professor at University of California, Los Angeles (UCLA), stressed on the “importance of determining the local nuances of the Indian market.”
Speaking toBusiness Linelast week, Mr Anand Padmanabhan, Senior Vice-President, Energy, Natural Resources & Utilities, Wipro Technologies, noted that India is characterised by the need to manage demand rather than supply of electricity, very different from the developed countries.
Wipro and Infosys have experience of having worked abroad on smart grids and with their knowledge of India too, are well placed to serve the needs of the emerging smart grid in India. According to a report (of Zpryme) the Indian government will spend $11 billion to reduce line losses to less than 15 percent in five years in urban and high-density areas. One-fifth of those funds will be dedicated to using IT at state-run distribution companies.
IT companies have solutions such as back-end solutions, remote infrastructure maintenance, CRM, systems integrations. Wipro and Infosys also know smart grid.
India is seen as the place where smart grid could be built from the scratch, leapfrogging several technologies that emerged and expired in the last several years.
With the experience of having worked abroad, Wipro knows what needs to be done in India now so that the grid is good still ten years down the line, said Mr Padmanabhan.
GTM Research, a well-known greentech research company, sought to find out who the Big Fish are in each segment of smart grid software. Under the head ‘Utility systems development and integration, data analytics and cyber security', GTM has named seven companies. Infosys and Wipro are in the elite company of five other global giants – IBM, Oracle, Siemens, Accenture and Schneider Electric.
Even in this well-knit world, having two home-grown biggies is seen as an advantage because smart grid is an area that specially requires local knowledge. Several experts have commented on the uniqueness of the Indian grid and hence the uniqueness of the opportunities any revamping of it provides.
At a conference in Mumbai on smart grid, Dr Rajit Gadh, Professor at University of California, Los Angeles (UCLA), stressed on the “importance of determining the local nuances of the Indian market.”
Speaking toBusiness Linelast week, Mr Anand Padmanabhan, Senior Vice-President, Energy, Natural Resources & Utilities, Wipro Technologies, noted that India is characterised by the need to manage demand rather than supply of electricity, very different from the developed countries.
Wipro and Infosys have experience of having worked abroad on smart grids and with their knowledge of India too, are well placed to serve the needs of the emerging smart grid in India. According to a report (of Zpryme) the Indian government will spend $11 billion to reduce line losses to less than 15 percent in five years in urban and high-density areas. One-fifth of those funds will be dedicated to using IT at state-run distribution companies.
IT companies have solutions such as back-end solutions, remote infrastructure maintenance, CRM, systems integrations. Wipro and Infosys also know smart grid.
India is seen as the place where smart grid could be built from the scratch, leapfrogging several technologies that emerged and expired in the last several years.
With the experience of having worked abroad, Wipro knows what needs to be done in India now so that the grid is good still ten years down the line, said Mr Padmanabhan.
US companies keen on joint ventures
Hyderabad: US companies are looking at forming joint ventures with their Indian counterparts in the areas of engineering, information technology, data entry and healthcare, according to Ms Susan Au Allen, President and Chief Executive Officer, the US Pan Asian American Chamber of Commerce Education Foundation.
Addressing the captains of industry in a programme organised by the Federation of Andhra Pradesh Chambers of Commerce and Industry on the occasion of a US trade delegation visit here on Saturday, she said small companies here could explore the possibility of expanding to the US.
India has the advantage of largest human resource base of English speaking people. However, the US companies were no longer seeking India as a cheaper location for business outsourcing/other activities, she said.
“Sri Lanka, Indonesia, the Philippines are cheaper than India. India is moving towards hi-end projects,'' she added.
On the perception of India in the US, Ms Allen said the Americans were now feeling that their jobs were going to India.
The visit of the US delegation was organised by the Fapcci, Hyderabad Management Association and GMRI Technology and Services Pvt Ltd, according to a release.
Addressing the captains of industry in a programme organised by the Federation of Andhra Pradesh Chambers of Commerce and Industry on the occasion of a US trade delegation visit here on Saturday, she said small companies here could explore the possibility of expanding to the US.
India has the advantage of largest human resource base of English speaking people. However, the US companies were no longer seeking India as a cheaper location for business outsourcing/other activities, she said.
“Sri Lanka, Indonesia, the Philippines are cheaper than India. India is moving towards hi-end projects,'' she added.
On the perception of India in the US, Ms Allen said the Americans were now feeling that their jobs were going to India.
The visit of the US delegation was organised by the Fapcci, Hyderabad Management Association and GMRI Technology and Services Pvt Ltd, according to a release.
Sunday, February 19, 2012
TIL brings out India's first magazine 'Tweek' for tablets
New Delhi: Times Internet Limited has launched 'Tweek', India's first magazine on the tablet that can be accessed on the iPad and will soon be available on the iPhone and Android.
"With Ats launch, we intend to pioneer the 'tablet magazine' space in India," says Rishi Khiani, CEO, Times Internet Limited. Tweek will feature stories from around the world, across categories such as business, entertainment, lifestyle and sports.
It will enable the reader to not just read a story, but also to listen to it and watch it.
The Tweek application for the tablet, has been developed in partnership with cloud-based mobile publishing company GENWI.
"With Ats launch, we intend to pioneer the 'tablet magazine' space in India," says Rishi Khiani, CEO, Times Internet Limited. Tweek will feature stories from around the world, across categories such as business, entertainment, lifestyle and sports.
It will enable the reader to not just read a story, but also to listen to it and watch it.
The Tweek application for the tablet, has been developed in partnership with cloud-based mobile publishing company GENWI.
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