Kolkata: Eastern Railway carried a total of 51.461 million tonnes of freight traffic during the period April 2011 to February 2012, as against 48.607 million tonnes, up 5.87% over the corresponding period of last year.
Out of the total loading this year, coal alone amounted to 34.092 million tonnes during the first 11 months of the current financial year, compared to 31.915 million tonnes carried during the corresponding period of last year.
Eastern Railway's freight earning went up to Rs 3225.19 crore during the period from April 2011 to February 2012 as against Rs 2876.28 crore during the corresponding period of last year, showing an increase of 12.13%.
Eastern Railway also carried 107.14 crore passengers during the period from April 2011 to February 2012 compared to 101.48 crore passengers , carried during the corresponding period of last year, recording a growth of 5.56%.
Earning from passenger traffic went up 8.97% to Rs. 1412.98 crore during the period from April 2011 to February 2012. T otal earnings went up by 11.31% to Rs. 4857.79 crore during the period from April 2011 to February 2012.
Success in my Habit
Friday, March 23, 2012
Nissan works on low-cost cars for Indian market
Mumbai: In a bid to aggressively compete against the top three Indian car makers, Maruti Suzuki, Tata Motors and Hyundai, Nissan is working on a slew of small car projects to be introduced in India under a new brand Datsun, starting 2014.
These low-cost cars from Datsun will fight for space in the price bracket of Rs 2-4 lakh, where the country’s highest selling model, Maruti Suzuki Alto, currently sells. Hyundai’s entry level car, Eon, and Tata Motors' Indica also sell in the space.
Nissan says the company is on course to launch two such models in 2014, and will progressively look at adding products at similar price points later. Datsun products will utilise Nissan and Renault's installed capacity at Chennai.
Nissan, the second largest automotive brand in Japan, is the second such company in India after Volkswagen to have refrained from entering into the low-cost segment using its own brand. Nissan-badged vehicles will sell above the Rs 4 lakh price tag in India.
Besides India, the Japanese company is looking to share the Datsun brand, which was progressively discontinued 25 years back, in emerging markets like Indonesia and Russia. Matured markets like the US, Japan and western European markets are not chosen for launching the Datsun brand.
Products under Datsun will have their unique platforms, besides their own vehicle technology. These products will be market specific, with limited or no scope for exports. Though Nissan officials did not provide details about Datsun's product plans, market reports say that one of the two products could be the one which is under development with a subsidiary of Ashok Leyland.
Ashwani Gupta, programme director, Datsun Business Unit, said, "The Datsun brand will be catering to the affordable segment with modern technology and generous features. These models will be developed locally and have a high local content and engineering.”
Targeting first-time buyers, Datsun's products will be aimed at buyers of used car or motorcycle. Hover Automotive, which handles sales, service and distribution of Nissan-branded cars in India, will also sell the Datsun brand. Thus, both brands will be sold under the same roof. Nissan is targeting about half of its sales to emerge under the Datsun brand. Product line-up and investment details will be disclosed at a later date, informed a Nissan official.
Carlos Ghosn, chief executive, Nissan Motor Company, said, "It's not going to be a global brand with global products; it’s going to be a global brand with very specific products adapted to market needs. We want to bring something much more modern."
Introduced in Japan in 1931, the Datsun brand established a strong foothold for the Japanese car maker in the all-important US market, beginning in the 1960s. But the nameplate was completely discontinued by 1986 globally in favour of the Nissan brand.
With the entry of Datsun, Nissan's entry level car will be Micra (priced at Rs 4.21 lakh, ex-showroom, Delhi). Among other models, Nissan also sells Sunny, Teana, Xtrail and the 370Z in India.
These low-cost cars from Datsun will fight for space in the price bracket of Rs 2-4 lakh, where the country’s highest selling model, Maruti Suzuki Alto, currently sells. Hyundai’s entry level car, Eon, and Tata Motors' Indica also sell in the space.
Nissan says the company is on course to launch two such models in 2014, and will progressively look at adding products at similar price points later. Datsun products will utilise Nissan and Renault's installed capacity at Chennai.
Nissan, the second largest automotive brand in Japan, is the second such company in India after Volkswagen to have refrained from entering into the low-cost segment using its own brand. Nissan-badged vehicles will sell above the Rs 4 lakh price tag in India.
Besides India, the Japanese company is looking to share the Datsun brand, which was progressively discontinued 25 years back, in emerging markets like Indonesia and Russia. Matured markets like the US, Japan and western European markets are not chosen for launching the Datsun brand.
Products under Datsun will have their unique platforms, besides their own vehicle technology. These products will be market specific, with limited or no scope for exports. Though Nissan officials did not provide details about Datsun's product plans, market reports say that one of the two products could be the one which is under development with a subsidiary of Ashok Leyland.
Ashwani Gupta, programme director, Datsun Business Unit, said, "The Datsun brand will be catering to the affordable segment with modern technology and generous features. These models will be developed locally and have a high local content and engineering.”
Targeting first-time buyers, Datsun's products will be aimed at buyers of used car or motorcycle. Hover Automotive, which handles sales, service and distribution of Nissan-branded cars in India, will also sell the Datsun brand. Thus, both brands will be sold under the same roof. Nissan is targeting about half of its sales to emerge under the Datsun brand. Product line-up and investment details will be disclosed at a later date, informed a Nissan official.
Carlos Ghosn, chief executive, Nissan Motor Company, said, "It's not going to be a global brand with global products; it’s going to be a global brand with very specific products adapted to market needs. We want to bring something much more modern."
Introduced in Japan in 1931, the Datsun brand established a strong foothold for the Japanese car maker in the all-important US market, beginning in the 1960s. But the nameplate was completely discontinued by 1986 globally in favour of the Nissan brand.
With the entry of Datsun, Nissan's entry level car will be Micra (priced at Rs 4.21 lakh, ex-showroom, Delhi). Among other models, Nissan also sells Sunny, Teana, Xtrail and the 370Z in India.
Elder Health Care forays into pain management category
New Delhi: Elder Health Care (EHCL), the FMCG arm of the Rs 950 crore plus pharma firm Elder group on Wednesday announced its entry in the pain management category with the launch of its brands, Respite and Elder balm.
The pain management category is estimated at Rs 2,000 crore.
Earlier, EHCL was licensee for Tiger balm, and with its own brands, Elder Healthcare has projected a turnover of Rs 300 crore by year 2013.
Elder Health Care MD Anuj Saxena said: "Pain management is a developing category. Our focus categories within pain management are balm and muscle rub which are growing at 6% and 20% respectively."
He said the company is planning various line extensions for both brands in different formats. "We want to make Elder balm and Respite into power brands," Saxena added.
The market is growing at 16-20%, and players include Amrutanjan and Iodex.
EHCL has a mix of own and in-licensed products in segments like pain management, fairness creams, oral care, lip care, burn categories, personal grooming and skin care.
The pain management category is estimated at Rs 2,000 crore.
Earlier, EHCL was licensee for Tiger balm, and with its own brands, Elder Healthcare has projected a turnover of Rs 300 crore by year 2013.
Elder Health Care MD Anuj Saxena said: "Pain management is a developing category. Our focus categories within pain management are balm and muscle rub which are growing at 6% and 20% respectively."
He said the company is planning various line extensions for both brands in different formats. "We want to make Elder balm and Respite into power brands," Saxena added.
The market is growing at 16-20%, and players include Amrutanjan and Iodex.
EHCL has a mix of own and in-licensed products in segments like pain management, fairness creams, oral care, lip care, burn categories, personal grooming and skin care.
Essar Oil commissions two more units at Vadinar refinery
Ahmedabad: Racing to complete its Rs 8,300-crore ongoing expansion plan as scheduled, Essar Oil Ltd on Wednesday said it has commissioned two more units at the Vadinar Refinery in Jamnagar district of Gujarat.
The two new units commissioned are the vacuum gas oil hydrotreating unit (VGOHDT) and the sulphur recovery unit at Vadinar. The company also commissioned the effluent treatment plant as part of the Phase I expansion project, to be completed by the end of March, the company said here.
Now, only the Delayed Coker Unit remains to be commissioned. The project, when completed, will expand the capacity of the refinery to 18 million tonnes per annum (mtpa) or 3.75 lakh barrels per day, and enhance complexity from the existing 6.1 to 11.8, which is amongst the highest in the world, Mr C Manoharan, Head of Vadinar Refinery, said. With a capacity of 6.5 mtpa, the VGOHDT at Vadinar is among the largest units of its kind. It will help the refinery produce low sulphur, high octane gasoline (petrol). The unit is also capable of producing naphtha, kerosene and gas oil (diesel).
Mr L.K. Gupta, Managing Director and CEO, Essar Oil, said the Vadinar Refinery, will be among the world's most complex refineries capable of producing fuels that meet the world's most stringent emission norms.
The ETP will treat 540 cubic metre of water per hour, which will be reused for cooling tower or for the generation of demineralised water through the RO plant. The treated water can also be used for horticulture.
Alongside the Phase I expansion, an optimisation project is also under way which will further increase the capacity to 20 mtpa (4.05 lakh bpd) by September 2012.
The two new units commissioned are the vacuum gas oil hydrotreating unit (VGOHDT) and the sulphur recovery unit at Vadinar. The company also commissioned the effluent treatment plant as part of the Phase I expansion project, to be completed by the end of March, the company said here.
Now, only the Delayed Coker Unit remains to be commissioned. The project, when completed, will expand the capacity of the refinery to 18 million tonnes per annum (mtpa) or 3.75 lakh barrels per day, and enhance complexity from the existing 6.1 to 11.8, which is amongst the highest in the world, Mr C Manoharan, Head of Vadinar Refinery, said. With a capacity of 6.5 mtpa, the VGOHDT at Vadinar is among the largest units of its kind. It will help the refinery produce low sulphur, high octane gasoline (petrol). The unit is also capable of producing naphtha, kerosene and gas oil (diesel).
Mr L.K. Gupta, Managing Director and CEO, Essar Oil, said the Vadinar Refinery, will be among the world's most complex refineries capable of producing fuels that meet the world's most stringent emission norms.
The ETP will treat 540 cubic metre of water per hour, which will be reused for cooling tower or for the generation of demineralised water through the RO plant. The treated water can also be used for horticulture.
Alongside the Phase I expansion, an optimisation project is also under way which will further increase the capacity to 20 mtpa (4.05 lakh bpd) by September 2012.
$240-m ADB loan to boost infra financing
New Delhi: The Central Government, Asian Development Bank (ADB) and India Infrastructure Finance Company Ltd (IIFCL) on Wednesday signed a $240-million loan agreement. This is the third and final tranche of the second India Infrastructure Project Financing Facility (IIPF).
In 2009, a $700-million multi-tranche financing facility was approved to finance sub-projects under IIFCL's investment programme for financing viable infrastructure projects in transport, urban and power projects.
The tranche-III is expected to support the Government's infrastructure agenda by enabling IIFCL to catalyse over 10 times its own resources from the private sector.
The loan has a 25-year term with a gross period of five years and interest would be determined in accordance with ADB's LIBOR-based lending facility.
The first and the second tranches of $460 million were earmarked to finance sub-projects for improving roads and highways in several States and to partially fund a power project in Kutch district in Gujarat.
This loan will flow to IIFCL on back-to-back basis with sovereign guarantee by the Centre.
In 2009, a $700-million multi-tranche financing facility was approved to finance sub-projects under IIFCL's investment programme for financing viable infrastructure projects in transport, urban and power projects.
The tranche-III is expected to support the Government's infrastructure agenda by enabling IIFCL to catalyse over 10 times its own resources from the private sector.
The loan has a 25-year term with a gross period of five years and interest would be determined in accordance with ADB's LIBOR-based lending facility.
The first and the second tranches of $460 million were earmarked to finance sub-projects for improving roads and highways in several States and to partially fund a power project in Kutch district in Gujarat.
This loan will flow to IIFCL on back-to-back basis with sovereign guarantee by the Centre.
India-US trade vital for global economy, says Godrej
Mumbai: The prospects of trade between India and US will be the trigger for global economic recovery, said Mr Adi Godrej, President-designate, Confederation of Indian Industry in an interaction with US-India business council.
“India's trade with the US has gone up from $5 billion in 1990 to $100 billion now. This has potential to grow further,” he said. To harness the full potential, both the countries should create an environment that is investment friendly for businesses to invest in both the countries, he added.
“Infrastructure remains a mega opportunity for the US companies to engage in India's development plans. From roads, highways and railways to ports and airports, India needs capacity building at every level,” said Mr Godrej.
An investment of $1 trillion has been envisaged for infrastructure development under the 12th Five-Year Plan and about 30 per cent of it is expected to come from the private sector.
“Policy reform in the financing arena, technology transfer and sharing best practices are some avenues through which collaboration among US and Indian SMEs can be accelerated,” Mr Godrej added.
“India's trade with the US has gone up from $5 billion in 1990 to $100 billion now. This has potential to grow further,” he said. To harness the full potential, both the countries should create an environment that is investment friendly for businesses to invest in both the countries, he added.
“Infrastructure remains a mega opportunity for the US companies to engage in India's development plans. From roads, highways and railways to ports and airports, India needs capacity building at every level,” said Mr Godrej.
An investment of $1 trillion has been envisaged for infrastructure development under the 12th Five-Year Plan and about 30 per cent of it is expected to come from the private sector.
“Policy reform in the financing arena, technology transfer and sharing best practices are some avenues through which collaboration among US and Indian SMEs can be accelerated,” Mr Godrej added.
PVR Cinemas partners with Scrabble Entertainment to go 100% Digital
Pune: PVR Cinemas will have all its screens converted to digital projection by the end of this month. It has tied up with Scabble Entertainment, a Mumbai-based digital cinema system supplier, that will convert 73 of PVR's 162 operational screens to digital in the next fortnight.
Digital cinema is a technology by which movies are screened using digital projection unlike the traditional system where a beam of light is passed through physical cellulose prints. It allows greater security and safety for the content, when films are screened digitally. Physical prints are more likely to be stolen and leaked to pirates. Digital cinema is transferred through either satellite downloads or in copy-proof hard disks.
The company supplies 2K digital systems, where 2K refers to images having 2048 pixels of horizontal resolution. The conversion of 73 screens will cost Rs 21 crore and all the future properties will be digital. The size of the entire partnership for digital conversion until December 2012 would be approximately Rs 66 Crore, a company statement said.
Ranjit Thakur, CEO, Scrabble Entertainment Ltd. highlighted "It is extremely encouraging to see the entire foot-print of a leading theatre chain go digital. Being one of the biggest & best theater chains in India, this partnership is a major step for India going completely digital by 2014. It is great to partner with PVR Cinemas as both of us strive at giving our patrons the best movie-viewing experience."
Pramod Arora, Group President & CEO of PVR Cinemas elaborated, " The value, flexibility & quality that 2K digital provides is far beyond the differential cost difference when compared to any other digital platform in the country. The stellar image on screen substantially improves the overall viewing experience of the consumer. At PVR we have taken a conscious decision to always go with the best available technology from time to time "
Kapil Agrawal, Joint Managing Director of UFO Moviez added that leading exhibitors such as PVR Cinemas understand the importance of digital platforms and are planning to adapt to the technology at an initial stage before print goes obsolete by 2014. We hope to see many more exhibitors such as PVR Cinemas taking this initiative." UFO Movies holds a 52% stake in Scrabble Entertainment.
The partnership will be based on a rental model which will include the services of programming, flexibility logs of movies advertising, Theatre Management System and a central library.
Digital cinema is a technology by which movies are screened using digital projection unlike the traditional system where a beam of light is passed through physical cellulose prints. It allows greater security and safety for the content, when films are screened digitally. Physical prints are more likely to be stolen and leaked to pirates. Digital cinema is transferred through either satellite downloads or in copy-proof hard disks.
The company supplies 2K digital systems, where 2K refers to images having 2048 pixels of horizontal resolution. The conversion of 73 screens will cost Rs 21 crore and all the future properties will be digital. The size of the entire partnership for digital conversion until December 2012 would be approximately Rs 66 Crore, a company statement said.
Ranjit Thakur, CEO, Scrabble Entertainment Ltd. highlighted "It is extremely encouraging to see the entire foot-print of a leading theatre chain go digital. Being one of the biggest & best theater chains in India, this partnership is a major step for India going completely digital by 2014. It is great to partner with PVR Cinemas as both of us strive at giving our patrons the best movie-viewing experience."
Pramod Arora, Group President & CEO of PVR Cinemas elaborated, " The value, flexibility & quality that 2K digital provides is far beyond the differential cost difference when compared to any other digital platform in the country. The stellar image on screen substantially improves the overall viewing experience of the consumer. At PVR we have taken a conscious decision to always go with the best available technology from time to time "
Kapil Agrawal, Joint Managing Director of UFO Moviez added that leading exhibitors such as PVR Cinemas understand the importance of digital platforms and are planning to adapt to the technology at an initial stage before print goes obsolete by 2014. We hope to see many more exhibitors such as PVR Cinemas taking this initiative." UFO Movies holds a 52% stake in Scrabble Entertainment.
The partnership will be based on a rental model which will include the services of programming, flexibility logs of movies advertising, Theatre Management System and a central library.
Xilinx opens expanded R&D facility
Hyderabad: Chip-designer Xilinx Inc has inaugurated its expanded facility here.
“The facility, Xilinx's largest research and development centre outside the US, would continue to support all programmable technologies and devices,'' Mr Moshe Gavrielov, President and Chief Executive Officer, Xilinx Inc, told newspersons here on Tuesday.
The US-based company's advanced solutions including 28 nanometre next-generation technology were associated with India development centre.
"We have grown here from 60 professionals four years ago to 400 now. The investments here will be continued," he said.
All these employees in Hyderabad report to Xilinx's programmable platforms development and worldwide technical support groups.
Mr Neeraj Varma, Director Sales – India, Xilinx, said India became a crucial market for his company.
Segments such as telecom and Defence would drive growth in Indian businesses, he added.
Citing industry estimates, Mr Varma said the addressable semi-conductor market in India was estimated at $3.2 billion.
“The facility, Xilinx's largest research and development centre outside the US, would continue to support all programmable technologies and devices,'' Mr Moshe Gavrielov, President and Chief Executive Officer, Xilinx Inc, told newspersons here on Tuesday.
The US-based company's advanced solutions including 28 nanometre next-generation technology were associated with India development centre.
"We have grown here from 60 professionals four years ago to 400 now. The investments here will be continued," he said.
All these employees in Hyderabad report to Xilinx's programmable platforms development and worldwide technical support groups.
Mr Neeraj Varma, Director Sales – India, Xilinx, said India became a crucial market for his company.
Segments such as telecom and Defence would drive growth in Indian businesses, he added.
Citing industry estimates, Mr Varma said the addressable semi-conductor market in India was estimated at $3.2 billion.
Shiv Nadar University in tie-up with Babson College
New Delhi: Noida-based Shiv Nadar University on Tuesday announced its collaboration with Babson College to offer three programs focused on entrepreneurship and establish a Center of Entrepreneurship.
The three programs (under the School of Business) include a four-year undergraduate program in business administration (BBA), a two-year MBA program and a one-year MS program.
All the programs will focus on entrepreneurship and will commence next year onwards. Students pursuing BBA and MBA programs will get an option to study one of the semesters at Babson College, while those pursuing MS will spend the summer semester at Babson College. The course fee ranges from Rs 11.5 lakh to Rs 15.75 lakh, depending on the program.
Babson College will help the School of Business at the University with curriculum design, selection and admissions, faculty training and student exchanges.
According to Nikhil Sinha, founding vice chancellor, Shiv Nadar University, India will have about 100 million young people looking for jobs in the next 10 years, but it may not be possible for the existing corporates to grow and create jobs in such large numbers.
"Our country needs new entrepreneurs to create the adequate number of jobs in the future," he said. "While individuals and business families in India have displayed sharp business acumen and have established global recognition, there is a need for structured and formal intervention through education to nurture and promote leadership in entrepreneurship," he added.
The University will also work towards providing financial support to entrepreneurs to launch their start-ups. However, the university is yet to decide on the student intake.. "We are looking to attract working executives who want to become entrepreneurs, as well as those who will handle their family businesses in the coming years," Sinha said.
Len Schlesinger, president, Babson College, said they will help develop the Centre of Entrepreneurship, which will serve as a center for excellence for entrepreneurship in India, focusing on research, incubation programs, outreach programs and case studies.
"We believe that entrepreneurship can be taught and how it is taught can make all the difference in the way businesses can be a success," he added.
The three programs (under the School of Business) include a four-year undergraduate program in business administration (BBA), a two-year MBA program and a one-year MS program.
All the programs will focus on entrepreneurship and will commence next year onwards. Students pursuing BBA and MBA programs will get an option to study one of the semesters at Babson College, while those pursuing MS will spend the summer semester at Babson College. The course fee ranges from Rs 11.5 lakh to Rs 15.75 lakh, depending on the program.
Babson College will help the School of Business at the University with curriculum design, selection and admissions, faculty training and student exchanges.
According to Nikhil Sinha, founding vice chancellor, Shiv Nadar University, India will have about 100 million young people looking for jobs in the next 10 years, but it may not be possible for the existing corporates to grow and create jobs in such large numbers.
"Our country needs new entrepreneurs to create the adequate number of jobs in the future," he said. "While individuals and business families in India have displayed sharp business acumen and have established global recognition, there is a need for structured and formal intervention through education to nurture and promote leadership in entrepreneurship," he added.
The University will also work towards providing financial support to entrepreneurs to launch their start-ups. However, the university is yet to decide on the student intake.. "We are looking to attract working executives who want to become entrepreneurs, as well as those who will handle their family businesses in the coming years," Sinha said.
Len Schlesinger, president, Babson College, said they will help develop the Centre of Entrepreneurship, which will serve as a center for excellence for entrepreneurship in India, focusing on research, incubation programs, outreach programs and case studies.
"We believe that entrepreneurship can be taught and how it is taught can make all the difference in the way businesses can be a success," he added.
11% rise in E. Rly revenue in April-Feb
Kolkata: The Eastern Railway (ER) has posted an over 11 per cent increase in revenue of nearly Rs 4,858 crore for the period between April 2011 and February 2012, as compared to the Rs 4,364 crore that it posted over the same period last year.
ER during the period carried nearly 52 mt of freight, a six per cent growth over the 49 million tonnes carried between April 2010 to February 2011.
In February 2012, freight went up by nearly 25 per cent to over 5 mt as compared to 4 mt in the same month last year. Meanwhile, ER recorded a nearly six per cent increase with over 107 crore passengers.
ER during the period carried nearly 52 mt of freight, a six per cent growth over the 49 million tonnes carried between April 2010 to February 2011.
In February 2012, freight went up by nearly 25 per cent to over 5 mt as compared to 4 mt in the same month last year. Meanwhile, ER recorded a nearly six per cent increase with over 107 crore passengers.
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