"Believer - Humanitarian - Habit of Success" Sukumar Balakrishnan is the Founder of JB GROUP, a 500 Crore National Organization with over 150 Direct & 1200 indirect professionals operating from 5 major cities in India. Jayalakshmi Balakrishnan Group, a multi-faceted group venturing into, E- Commerce and Import-Export (INNOKAIZ), Retail and Wholesale (JB MART), Food and Beverages (KRISHNA FOODS ), Real Estate (Constructions on sites, Interior scaping, Facility Management)
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Saturday, April 14, 2012
IIM Kozhikode planning to set up a satellite campus at Kochi, mainly focusing on executive education
Kolkata: IIM Kozhikode is planning to set up a satellite campus at Kochi, mainly focusing on executive education.
The institute, which has an internationally accredited executive management education program, intends to use the proposed campus to expand its offerings in this space by starting full-time and part-time programs targeted at middle and senior level executives.
The satellite campus will be initially housed within Infopark and will focus primarily on executive education - both long term and short term as well as specialised courses for executives of the IT sector.
Initially, the satellite centre will be offering one-year executive MBA program as well as two-year part-time programs in addition to a large number of short duration Management Development Programs.
By positioning its satellite campus in Kochi, IIM Kozhikode is planning to support the growth and development of business and industry in the region.
In addition to offering executive training and education programs, the satellite campus will also support IIMK's mission of inclusive education as the institute is planning to incubate a finishing school to offer specialised programmes for people belonging to the marginalised sections of the society.
However, this will be taken up once the full fledged campus is functional at Kochi. The initial facility inside Infopark is expected to be functional by October 2012 and hope to start its offerings before the end of 2012.
The Institute also expects to complete the full campus within next three years.
ABB wins Rs 75-cr Jaipur metro rail order
Coimbatore: ABB has secured an order valued at Rs 75 crore from Delhi Metro Rail Corporation Ltd to provide power solutions for the proposed Jaipur metro rail network.
The Jaipur Mass Rapid Transport System, promoted as an eco-friendly project, is expected to carry approximately 11,000 commuters per hour on each rail corridor when becomes fully operational.
The turnkey project includes design, installation and commissioning of essential power infrastructure for stage 1 of the East-West corridor of JMRTS that would serve eight stations.
Trafigura makes first Asia investment in Tamil Nadu
Chennai: Trafigura Pte Ltd, the Singapore-based unit of the world’s third-largest crude oil trader, Netherlands’ Trafigura Beheer BV, picked up a 24 per cent stake in Nagarjuna Oil Corporation Limited (NOCL). NOCL is setting up an oil refinery in Tamil Nadu.
Trafigura will invest around Rs 650 crore for the stake and another Rs 600 crore in Portoil Ltd, a 80:20 joint venture (JV) between NOCL and Trafigura.
With this stake, Trafigura has replaced BP as NOCL’s crude supplier.
“With BP, Nagarjuna Oil had a commercial agreement for crude supplies and export of products but Trafigura has come as a strategic investor ... it is buying a stake in the project,” said a source privy to the deal.
K S Raju, chairman of the Nagarjuna Group, said in addition to acquiring an equity stake, Trafigura would invest the additional Rs 600 crore into the construction of extensive storage facilities and associated infrastructure through Portoil Ltd. This will come up in a 100-acre site near the refinery’s 2,500-acre site.
NOCL is setting up a six-million tonne oil refinery at Cuddalore in Tamil Nadu. Commissioning work at the refinery is expected to start later this year.
Jonathan Pegler, Trafigura’s director of oil Asia Pacific said, “This is an important, long-term venture for Trafigura and is an exciting project for all concerned. It plays directly to the strengths of Nagarjuna as a leading process operator and to Trafigura as a company committed to balancing international supply and demand for oil products”.
NOCL’s refinery will be an anchor unit for the proposed Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) in the Cuddalore-Nagapattinam belt. The PCPIR envisages an investment of over Rs 13,000 crore in developing infrastructure in the region over the next ten years.
The Nagarjuna Petroleum refinery is being constructed at Cuddalore in Tamil Nadu at an estimated cost of Rs 7,160 crore. Including the cost of utilities and captive facilities like minor port, tankages, power plant, marketing terminal etc, the total estimated cost of the NOCL refinery project is around Rs 10,000 crore.
Trafigura is one of the leading international commodity traders, handling a diverse range of raw materials from oil and refined products to non-ferrous metals, iron ore and coal to clients around the world.
Other partners in the NOCL Refinery project include TIDCO, a
Government of Tamil Nadu enterprise, and Tata Petrodyne, a Tata Group enterprise, Cuddalore Port Company Ltd and Uhde of Germany.
India, one of the top clean-energy economies
New Delhi: India continued its ascent as a top destination for private clean energy investment, according to a research report released by The Pew Charitable Trusts, a non-profit organisation.
The country’s ‘National Solar Mission,’ with a goal to have 20 GW of solar power installed by 2020, helped drive the seven-fold jump in solar energy investments to $4.2 billion, the report said. India received $4.6 billion and an additional 2.8 GW of capacity was installed over the course of the year. India now has 22.4 gigawatts of installed clean energy generating capacity.
According to the report, India’s clean energy sector continued to flourish in 2011, with private investment increasing 54 per cent to $10.2 billion, placing the country at sixth position among the G-20 nations. This was the second highest growth rate among the G-20 nations.
“Clean energy investment, excluding research and development, has grown by 600 per cent since 2004 on the basis of effective national policies that create market certainty,” said Ms Phyllis Cuttino, Director of Pew’s Clean Energy Program.
“On a number of measures, India has been one of the top performing clean energy economies in the 21{+s}{+t} century, registering the fifth highest five-year rate of investment growth and eighth highest in installed renewable energy capacity,” the report said.
Globally, investment grew to a record $263 billion in 2011, a 6.5 per cent increase over the previous year. The US reclaimed the top spot among all G-20 nations and attracted $48 billion.
However, with $45.5 billion in private investments, China continued to be a hub of clean energy activity — leading the world in wind energy investment and deployment as well as wind and solar manufacturing.
Germany received $30.6 billion, ranking third among G-20 nations. The combination of falling prices and growing investments accelerated installation of clean energy generating capacity by a record 83.5 GW in 2011 bringing the total to 565 GW globally. This represents almost 50 per cent more than installed nuclear power capacity.
Bloomberg New Energy Finance is Pew’s research partner.
The country’s ‘National Solar Mission,’ with a goal to have 20 GW of solar power installed by 2020, helped drive the seven-fold jump in solar energy investments to $4.2 billion, the report said. India received $4.6 billion and an additional 2.8 GW of capacity was installed over the course of the year. India now has 22.4 gigawatts of installed clean energy generating capacity.
According to the report, India’s clean energy sector continued to flourish in 2011, with private investment increasing 54 per cent to $10.2 billion, placing the country at sixth position among the G-20 nations. This was the second highest growth rate among the G-20 nations.
“Clean energy investment, excluding research and development, has grown by 600 per cent since 2004 on the basis of effective national policies that create market certainty,” said Ms Phyllis Cuttino, Director of Pew’s Clean Energy Program.
“On a number of measures, India has been one of the top performing clean energy economies in the 21{+s}{+t} century, registering the fifth highest five-year rate of investment growth and eighth highest in installed renewable energy capacity,” the report said.
Globally, investment grew to a record $263 billion in 2011, a 6.5 per cent increase over the previous year. The US reclaimed the top spot among all G-20 nations and attracted $48 billion.
However, with $45.5 billion in private investments, China continued to be a hub of clean energy activity — leading the world in wind energy investment and deployment as well as wind and solar manufacturing.
Germany received $30.6 billion, ranking third among G-20 nations. The combination of falling prices and growing investments accelerated installation of clean energy generating capacity by a record 83.5 GW in 2011 bringing the total to 565 GW globally. This represents almost 50 per cent more than installed nuclear power capacity.
Bloomberg New Energy Finance is Pew’s research partner.
India to expand trade ties with Asean
Kochi: India is looking to expand its trade and investment ties with Asean countries with the signing of four comprehensive economic cooperation agreements.
Mr A.K.Tripathy, Joint Secretary, Ministry of Commerce and Industry, said that India has a $1 trillion service industry and 50 per cent of the GDP was related to trade and industry. India played a very active role in signing FTA and CECA with neighbouring countries, he said.
Mr Tripathy was delivering the keynote address at the Outreach session on FTA organised by CII-Kerala here on Wednesday. The objective of the session was to highlight the opportunities that will emerge for the Indian industry from the four CECA that India has signed with Japan and Asean countries.
Mr Avinash P. Joshi, Director, Ministry of Commerce and Industry, said that CECA would be a major factor in the robust growth in bilateral investments that have touched $24 billion. Singapore is now the second largest contributor of FDI into India, he said.
Ms Suchismata Palai, Director, Ministry of Commerce and Industry, said that the India-Korea comprehensive Economic Partnership Agreement (CEPA) would benefit not only trade in goods but also investments, services and bilateral cooperation in the areas such as customs, audio visual coproduction, competition, new and renewable energy.
Concluding the session, Mr Pranav Kumar, Director and Head – International Policy and Trade, CII, said that the future of India's service sector lies in promoting FTAs in the coming years and that international trade should be developed with Asean and other countries.
Mr A.K.Tripathy, Joint Secretary, Ministry of Commerce and Industry, said that India has a $1 trillion service industry and 50 per cent of the GDP was related to trade and industry. India played a very active role in signing FTA and CECA with neighbouring countries, he said.
Mr Tripathy was delivering the keynote address at the Outreach session on FTA organised by CII-Kerala here on Wednesday. The objective of the session was to highlight the opportunities that will emerge for the Indian industry from the four CECA that India has signed with Japan and Asean countries.
Mr Avinash P. Joshi, Director, Ministry of Commerce and Industry, said that CECA would be a major factor in the robust growth in bilateral investments that have touched $24 billion. Singapore is now the second largest contributor of FDI into India, he said.
Ms Suchismata Palai, Director, Ministry of Commerce and Industry, said that the India-Korea comprehensive Economic Partnership Agreement (CEPA) would benefit not only trade in goods but also investments, services and bilateral cooperation in the areas such as customs, audio visual coproduction, competition, new and renewable energy.
Concluding the session, Mr Pranav Kumar, Director and Head – International Policy and Trade, CII, said that the future of India's service sector lies in promoting FTAs in the coming years and that international trade should be developed with Asean and other countries.
Thursday, April 12, 2012
Caterpillar launches new production unit in Chennai
Chennai: Caterpillar India today announced the launch of the company’s new backhoe loader manufacturing facility in Thiruvallur, near Chennai. While the company did not disclose the investment details, it said the new facility, its fourth in the country, would strengthen the company’s presence in India and would augment the distribution channel for the earth-moving machine by bringing in enhanced local production capabilities.
Robert Droogleever, general manager for Caterpillar BHL Worldwide, who inaugurated the facility, said the demand for backhoe loaders has been gaining traction with the construction equipment industry growing at a rate of 15-20 per cent per annum.
“With local manufacturing and long-term commitment, we aim to provide a quality product that meets this growing demand and brings us closer to our aim of attaining a market leadership position,” he said.
Kevin Thieneman, country manager, (India, Asean & China) added India would make significant investments over the next several decades to build its infrastructure and support higher levels of urbanisation.
“This facility, our fourth manufacturing operation in India, positions us to meet industry growth and enables us to better serve our customers with the broadest range of products in the industry,” he said.
GreenField Software in pact with European firm
Bangalore: GreenField Software, an energy and environment management software company, has partnered with UK-based GFS Group Holdings to make its foray into the European market.
The company provides Data Centre Infrastructure Management (DCIM) and Energy and Sustainability Management (ESM) software solutions for enterprises.
GFS Group Holdings will be the master distributor of GreenField Software's products in the European Union, Iceland, Liechtenstein, Norway and Switzerland, according to a press statement.
GFS Crane DC, the first product to be introduced under the partnership, analyses dynamic data and suggests improvements for overall data centre energy and operational performance.
India Hospitality Corp buys UK's Adelie food group for Rs 1,800 crore
New Delhi/ Mumbai: India Hospitality Corp, the owner of Mumbai eateries Jazz by the Bay and All Stir Fry, has bought UK's Adelie Food Group, which supplies quiches, salads, sandwiches and assorted ready-toeat food to retail chains such as Starbucks coffee and Sainsbury's supermarkets, for $350 million from PE firm Duke Street Capital.
The transaction, the largest overseas acquisition by an India-focused company in the food and beverages segment since Tata Tea bought vitamin water maker Glaceau in 2006, will enable India Hospitality Corp (IHC) to spread its wings internationally.
IHC had made a failed attempt to acquire London's famous noodle chain company Wagamama two years ago.
The deal will also make IHC India's largest food services company and help strengthen its presence in the rapidly growing out-of-home food market in the country.
The company is a supplier to Cafe Coffee Day and Costa Coffee, and plans to expand this business aggressively.
"We have signed the deal. The acquisition makes us India's largest food services company. We will make packaged food readily available for Indian consumers to buy from supermarkets and even from some mom-and-pop stores," said IHC Chairman Ravi Deol.
Deol, who was Barista coffee chain's first chief executive officer, said a decade ago only the affluent went to coffee shops in India, but now the middle class is willing to pay a premium for ready-to-eat food if it is fresh and packaged neatly.
According to Euromonitor, Indians spend $64 billion annually on eating out, which includes $13 billion on eating in quick-service restaurants (QSRs) such as McDonald's and Costa Coffee, propelling the industry to grow at 25-30% annually.
"QSRs are reaching a critical mass," said Debashish Mukherjee, partner and head of foods at consulting firm AT Kearney.
India Hospitality Corp to gain from Adelie
"There i s a need for food companies which can supply to large QSR chains instead of them depending on fragmented purchases," said Debashish Mukherjee, partner and head of foods at consulting firm AT Kearney.
Adelie will help IHC create cold food manufacturing facilities and distribution chains in the country and provide the Indian company with consumer insights that can be suitably tailored for the local market.
The $350-million Adelie Group employs over 3,000 people across its seven manufacturing locations and distribution network in the UK. It supplies packaged food to supermarkets, cafes and airlines.
In addition to Starbucks and Sainsbury, its marquee customers include Asda, Costa Coffee and Gate Gourmet. The group consists of six companies and the existing structure of Adelie as the umbrella parent company is expected to continue with group firms such as Food Partners and Buckingham Foods maintaining their local identities.
Registered in Cayman Islands, IHC was set up as a blank cheque firm in 2006 with the specific mandate of making investments in the restaurant and hospitality sector. At present, Deol, Sandeep Vyas, a former Yum Restaurant executive, and Jason Ader, the founder of a New York-based hedge fund, own two-thirds of IHC with Goldman Sachs and Fidelity being the other shareholders.
In 2007, the company acquired airline catering firm Skygourmet and Sanjay Narang's Mars Restaurants, a multi-brand restaurant chain with particular focus on western India.
In addition to Jazz by the Bay and All Stir Fry, it owns a string of restaurants and food outlets including Birdy's, Dosa Diner, Roti, Pizzeria & Pasta Bar, and Tendulkar's. In the hospitality sector, it owns Gordon House Hotels.
New Delhi: Strides Arcolab has received US-FDA approval for Vancomycin hydrochloride antibiotic capsules, used to treat bacterial infections. Shares of the company rose slightly over 6 per cent to close at Rs 631.90 following the announcement.
Vancomycin antibiotic capsules are used in the prophylaxis and treatment of infections caused by gram-positive bacteria. The drug has traditionally been reserved as a ‘last resort' remedy, used only after treatment with other antibiotics fails.
Mr Arun Kumar, Group CEO of Strides, in a statement, said: “Oral Vancomycin development is one among the many generics programmes being undertaken at the Strides group, with a special focus to develop niche and difficult to manufacture products.”
The product will be launched immediately through Alvogen, a US-based privately-owned pharmaceuticals company, on a profit share basis.
According to IMS health data, Vancomycin capsules had total US sales of $332 million for the 12 months ending February 2012, with no prior generic approvals.
Indian, Japanese firms to bid for civil work contracts on western rail freight corridor
New Delhi: Two consortiums comprising of Indian and Japanese firms have been selected in the pre qualification stage to bid for civil work contracts of the western stretch covering 640 kilometres of the Dedicated Freight Corridor.
The two consortiums which have been selected are Sojitz Corporation- L&T and Mitsui-IRCON- Leighton. These companies are vying to develop the stretch between Reqari in Haryana to Iqbalgarh in Gujarat. Land has already been acquired for the entire stretch.
The Dedicated Freight Corridor Corporation of India Ltd, a company promoted by the Indian Railways, had invited the bids last year but faced some problems due to mandatory requirement of lead partner to be a Japanese company. Although, a number of Indian companies had expressed interest but they were unable to tie-up with a suitable Japanese partner.
The western corridor covering a length of about 1500 kms from Dadri to Jawaharlal Nehru Port (Mumbai) is being funded by Japanese lender JICA. The Rs 77,000 crore dedicated freight corridor project aims to reduce the travel time by a third from the northern part of the country to Eastern and Western regions.
The two consortiums which have been selected are Sojitz Corporation- L&T and Mitsui-IRCON- Leighton. These companies are vying to develop the stretch between Reqari in Haryana to Iqbalgarh in Gujarat. Land has already been acquired for the entire stretch.
The Dedicated Freight Corridor Corporation of India Ltd, a company promoted by the Indian Railways, had invited the bids last year but faced some problems due to mandatory requirement of lead partner to be a Japanese company. Although, a number of Indian companies had expressed interest but they were unable to tie-up with a suitable Japanese partner.
The western corridor covering a length of about 1500 kms from Dadri to Jawaharlal Nehru Port (Mumbai) is being funded by Japanese lender JICA. The Rs 77,000 crore dedicated freight corridor project aims to reduce the travel time by a third from the northern part of the country to Eastern and Western regions.
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