New Delhi: In the past three years, projects in Gujarat received the highest number environmental clearances, followed by Andhra Pradesh and Maharashtra.
Of the total 2,040 projects cleared in the past three years, 273 are in Gujarat, 230 in Andhra Pradesh, 200 in Maharashtra and 156 in Orissa, according to the Ministry of Environment and Forests (MoEF).
Interestingly, among the smaller States, projects in Chhatisgarh received the maximum number of green nods at 115 and Jharkhand at 112, both mineral-rich areas.
As on August 13, 2012, a total of 593 project proposals were awaiting environment and forest clearance, the Environment Minister, Jayanthi Natarjan, said in a written reply to Lok Sabha this week.
The Ministry has been under pressure to fast-track green clearances to send the right signals to attract investments. The Prime Minister’s Office had recently held a review meeting on coal projects being held up due to green clearances. After recent outages, the Ministry also came under fire for “stalling” of power projects, which it refuted as “factually incorrect’.
To fast-track clearances, the MoEF has now decentralised work, assigning some of the work to States and Union territories. Regular meetings of the expert appraisal panel, updating of project status on the Ministry’s Web site and uploading of sector-specific manuals are some of the other steps, the Minister said.
According to the Environment Impact Assessment Notification, 2006, there is a time of limit of 105 days from the date of receipt of complete information for grant of environmental clearance.
Success in my Habit
Thursday, August 16, 2012
Green nod for 2,040 projects in last 3 years, says Govt
New Delhi: In the past three years, projects in Gujarat received the highest number environmental clearances, followed by Andhra Pradesh and Maharashtra.
Of the total 2,040 projects cleared in the past three years, 273 are in Gujarat, 230 in Andhra Pradesh, 200 in Maharashtra and 156 in Orissa, according to the Ministry of Environment and Forests (MoEF).
Interestingly, among the smaller States, projects in Chhatisgarh received the maximum number of green nods at 115 and Jharkhand at 112, both mineral-rich areas.
As on August 13, 2012, a total of 593 project proposals were awaiting environment and forest clearance, the Environment Minister, Jayanthi Natarjan, said in a written reply to Lok Sabha this week.
The Ministry has been under pressure to fast-track green clearances to send the right signals to attract investments. The Prime Minister’s Office had recently held a review meeting on coal projects being held up due to green clearances. After recent outages, the Ministry also came under fire for “stalling” of power projects, which it refuted as “factually incorrect’.
To fast-track clearances, the MoEF has now decentralised work, assigning some of the work to States and Union territories. Regular meetings of the expert appraisal panel, updating of project status on the Ministry’s Web site and uploading of sector-specific manuals are some of the other steps, the Minister said.
According to the Environment Impact Assessment Notification, 2006, there is a time of limit of 105 days from the date of receipt of complete information for grant of environmental clearance.
Of the total 2,040 projects cleared in the past three years, 273 are in Gujarat, 230 in Andhra Pradesh, 200 in Maharashtra and 156 in Orissa, according to the Ministry of Environment and Forests (MoEF).
Interestingly, among the smaller States, projects in Chhatisgarh received the maximum number of green nods at 115 and Jharkhand at 112, both mineral-rich areas.
As on August 13, 2012, a total of 593 project proposals were awaiting environment and forest clearance, the Environment Minister, Jayanthi Natarjan, said in a written reply to Lok Sabha this week.
The Ministry has been under pressure to fast-track green clearances to send the right signals to attract investments. The Prime Minister’s Office had recently held a review meeting on coal projects being held up due to green clearances. After recent outages, the Ministry also came under fire for “stalling” of power projects, which it refuted as “factually incorrect’.
To fast-track clearances, the MoEF has now decentralised work, assigning some of the work to States and Union territories. Regular meetings of the expert appraisal panel, updating of project status on the Ministry’s Web site and uploading of sector-specific manuals are some of the other steps, the Minister said.
According to the Environment Impact Assessment Notification, 2006, there is a time of limit of 105 days from the date of receipt of complete information for grant of environmental clearance.
Outbound deals push up PE, M&A values in July
New Delhi: An increase in outbound deals led to a jump in the total M&A and PE deal value in July 2012 to $2 billion, from $1.4 billion in the previous month.
Raja Lahiri, Partner, Transaction Advisory Services, Grant Thornton India, said this is a welcome surprise, given the overall economic head-winds.
The total number of deals in July, though, posted a slight decline to 75, compared with 83 deals in June.
Outbound value
The total value of outbound deals in July was $1.30 billion (17 deals), higher than the corresponding values of $0.85 billion (12 deals) and $0.14 billion (8 deals) during the same month in 2011 and 2010, respectively.
Inbound deals in July were worth $0.13 billion (8 deals) as compared with $1.50 billion (10 deals) and $1.15 billion (5 deals) during the corresponding month in 2011 and 2010, respectively
July witnessed increase in M&As — $1.9 billion, from 44 deals, compared with $0.7 billion/48 deals in June 2012. This was largely driven by outbound transactions such as the GMR-UFS deal ($0.6 billion), Grasim-Terrace Bay Pulp ($0.36 billion) and Crompton Greaves-ZIV Group ($0.19 billion), Lahiri said.
Though PE/VC activity was good in terms of number of deals ($166 million/31 deals), values declined over June ($762 million).
Average deal sizes have fallen following increased activity in the VC deal space.
PE activity
“PE/VC deal space continued to see activity in the e-commerce / Internet space and in renewable energy. Companies which have cash will drive M&A deal momentum going forward, since the time offers good deal opportunities in terms of valuation,” Lahiri said.
PE deal values amounted to $0.17 billion (31 deals) in July 2012, lower than the $0.74 billion (35 deals) and $0.76 billion (21 deals) garnered during the corresponding month in 2011 and 2010, respectively
Also, there were two IPOs listed in July, that raised $13.40 million from the public.
The total amount raised through IPOs during January-December 2011 was $1.20 billion, from 30 IPOs.
Raja Lahiri, Partner, Transaction Advisory Services, Grant Thornton India, said this is a welcome surprise, given the overall economic head-winds.
The total number of deals in July, though, posted a slight decline to 75, compared with 83 deals in June.
Outbound value
The total value of outbound deals in July was $1.30 billion (17 deals), higher than the corresponding values of $0.85 billion (12 deals) and $0.14 billion (8 deals) during the same month in 2011 and 2010, respectively.
Inbound deals in July were worth $0.13 billion (8 deals) as compared with $1.50 billion (10 deals) and $1.15 billion (5 deals) during the corresponding month in 2011 and 2010, respectively
July witnessed increase in M&As — $1.9 billion, from 44 deals, compared with $0.7 billion/48 deals in June 2012. This was largely driven by outbound transactions such as the GMR-UFS deal ($0.6 billion), Grasim-Terrace Bay Pulp ($0.36 billion) and Crompton Greaves-ZIV Group ($0.19 billion), Lahiri said.
Though PE/VC activity was good in terms of number of deals ($166 million/31 deals), values declined over June ($762 million).
Average deal sizes have fallen following increased activity in the VC deal space.
PE activity
“PE/VC deal space continued to see activity in the e-commerce / Internet space and in renewable energy. Companies which have cash will drive M&A deal momentum going forward, since the time offers good deal opportunities in terms of valuation,” Lahiri said.
PE deal values amounted to $0.17 billion (31 deals) in July 2012, lower than the $0.74 billion (35 deals) and $0.76 billion (21 deals) garnered during the corresponding month in 2011 and 2010, respectively
Also, there were two IPOs listed in July, that raised $13.40 million from the public.
The total amount raised through IPOs during January-December 2011 was $1.20 billion, from 30 IPOs.
Govt approves Mars Orbitter Mission
New Delhi: India plans to send a mission to the Red Planet, Mars. This will be a huge step for India in the area of science and technology, according to Dr Manmohan Singh, Prime Minister of India.
The Government of India has approved Mars Orbitter Mission to collect important scientific information including climate, geology, origin, evolution and sustainability of life on the planet. The mission was announced during a speech marking the 66th anniversary of India's independence.
India will be sixth country to launch a mission to Mars, after US, Russia, Europe, Japan and China. India will be the first Asian country to do so because the probes sent by China and Japan had to be abandoned en route.
The Mars Orbiter Mission is expected to be launched in November 2013 with a 25 kg scientific payload from Indian Space Research Organisation (ISRO), Sriharikota, Andhra Pradesh, by the Polar Satellite Launch Vehicle (PSLV). It will take around 300 days to reach Martian orbit. It will be placed in an orbit of 500 x 80,000 km around Mars.
The Government of India has approved Mars Orbitter Mission to collect important scientific information including climate, geology, origin, evolution and sustainability of life on the planet. The mission was announced during a speech marking the 66th anniversary of India's independence.
India will be sixth country to launch a mission to Mars, after US, Russia, Europe, Japan and China. India will be the first Asian country to do so because the probes sent by China and Japan had to be abandoned en route.
The Mars Orbiter Mission is expected to be launched in November 2013 with a 25 kg scientific payload from Indian Space Research Organisation (ISRO), Sriharikota, Andhra Pradesh, by the Polar Satellite Launch Vehicle (PSLV). It will take around 300 days to reach Martian orbit. It will be placed in an orbit of 500 x 80,000 km around Mars.
Tuesday, August 14, 2012
L&T secures orders worth over Rs 2,008 cr
In power transmission and distribution, it has secured orders worth Rs 607 crore.
Major orders include one from Chamundeshwari Electricity Supply Corporation Ltd for linking of feeders to rural areas to provide continuous supply to installations at Hassan, HN Pura and CR Patna Divisions.
Another order is for construction of 220kV &765 kV switchyards in Uttar Pradesh.
On the international front, it has secured an order for supply and installation of a 20/33 kV grid station in UAE.
L&T’s buildings & factories division has got orders worth Rs 674 crore, which includes a contract from the Airports Authority of India for the construction of a new integrated terminal building at Chandigarh Airport.
It has also secured an order for the construction of an IT campus in Hyderabad.
L&T’s construction division has secured a turnkey order worth Rs 155 crore from Greater Mohali Area Development Authority for the construction of roads, water supply, electrical services (street-lighting) and development of parks.
L&T has also bagged orders worth Rs 275 crore from the Kolkata Metropolitan Development Authority for design and construction of a four-lane flyover, rail overbridge and viaduct.
In addition, the company’s construction arm has got additional orders worth Rs 297 crore in various ongoing projects.
Sahara to invest Rs 3k cr in retail
The company will start its retail business under the "Q" brand name and plans to expand its reach in nearly 1,000 cities and towns by 2013 and is aiming at a revenue target of Rs 50,000 crore by the end of two years. The five states where the retail venture would be launched on Wednesday are Uttar Pradesh, Uttarakhand, Rajasthan, Bihar and Jharkhand. "It has started with Rs 3,000 crore and it may touch Rs 10,000 to Rs 11,000 crore. It may touch that figure," Subrata Roy Sahara, managing worker and chairman of the company, told TOI when asked about the investment in the venture.
"India is a huge market. But adulteration is a huge problem. It is an emotional decision. So, I thought why not provide clean food. This is a good business, it is good for the country and good for the organization. The top priority is quality," Roy said. He said the Sahara Q shop will sell products under 73 different categories, which include staples, processed food, personal care products, home care products, general merchandise and lifestyle products at competitive prices. Roy said stringent quality control tests would be done to shut out any adulteration.
Rubber sector urged to set up units in Indonesia
In a meeting with All India Rubber Industries Association (AIRIA), Dickey Fabrian, Consul-General of the Republic of Indonesia in India, had conveyed his country’s eagerness to increase bilateral trade in rubber goods.
Fabrian invited Indian rubber industry to start their rubber manufacturing units in Indonesia due to availability of natural rubber, inexpensive labour/power and friendly government policies. Indonesia has also invited investment in rubber plantation through lease of land.
Niraj Thakkar, Senior Vice-President of AIIRA and Convener of upcoming India Rubber Expo, said a high-level Indonesian delegation is likely to participate in the India Rubber Expo to be held in Mumbai in January next year to further strengthen the ties between rubber goods manufacturers of two countries.
As such several automotive tyre and rubber goods manufacturing units are looking at ASEAN countries to take advantage of the free trade regime, Thakkar said.
Max Hypermarket India partners French retail giant Auchan Group
Earlier this year, Max and Dutch retailer Spar agreed to discontinue the partnership they had since 2004 and said they will continue their India operations separately.
"The Landmark Group has agressive growth plans for India, across various verticals; and we believe that Auchan are the right franchise partners for us, as we continue to set benchmarks in Indian retailing," said Ramanathan Hariharan, Director, Landmark Group.
The company also said that this new relationship will help them enhance the standards of hypermarket retailing in the country, besides strengthening our back-end supply chain and processes.
"We share with Max Hypermarket, a renowned retailer operator in India, the same vision of business and look forward to sharing our know-how to foster the development of its hypermarkets under our brand. We consider this new franchise partnership in India as a great opportunity for Auchan to enhance its brand on a very high potential market, characterized by dynamism and a strong economic growth", said Philippe Baroukh, General Manager, Hypermarkets of the Auchan Group.
The existing stores will be rebranded in Q4 of 2012. The franchise partnership is aimed at reinforcing the business objectives of both organizations in providing customers with best of value, choice and experience. Max Hypermarkets and Auchan plan to open 12 - 15 new stores in a year across various geographies in India.
Novozymes, Holck-Larsen to promote Indo-Danish scientist exchange
Announcing the partnership, Per Falholt, Executive Vice-President and head of R&D at Novozymes, said: “The initiative comes at a time when Novozymes needs talented scientists with a global mindset. My dream is to connect Indian and Danish science in the field of biotechnology.”
“This is why we're establishing this scientist exchange programme to provide funds to send scientists off-on an educational international assignment. I'm sure the programme will benefit both our countries and Novozymes,” he added.
Novozymes has a significant business in India with over 400 employees. Recently, the company invested in a R&D facility in Bangalore.
The programme will run from 2013 to 2019, and each year 25 scientists will participate in exchange visits between India and Denmark. The funds will be managed by the Technical University of Denmark, the University of Copenhagen and Aarhus University.
Monday, August 13, 2012
Skoda to enter pre-owned car business
“We are working on putting in place a comprehensive growth strategy to penetrate deeper into the country with our range of products. We will not trigger discount wars to boost numbers but we are working on entering the pre-owned cars business to introduce more customers to our brand by the end of the year,” said Sudhir Rao, managing director, Skoda India.
While the specifics of the used-car business are still being worked out, Skoda is ramping up efforts to expand overall reach by setting up 150 dealerships by 2014-15. The company has 102 outlets at present.
Though the Indian subsidiary at present contributes a little over three per cent to Skoda’s sales globally, Rao said the company was infusing Rs 300 crore to improve localisation content in its products and reduce cost of ownership to raise volumes “substantially” in the country and to achieve sales tally of 1.5 million units worldwide by 2018.
Automobile manufacturers are increasingly focusing on sales of pre-owned vehicles to expand volumes in a market where offtake of new vehicles have waned due to high interest rates, fuel prices and uncertain economic conditions. An industry expert informed, “The pre-owned car business units not only provide dealers with opportunities to improve margin by selling used cars, the company additionally registers sales of new vehicles through exchange programmes.”
For the quarter ended June 30, Maruti Suzuki expanded volumes by 18 per cent to 60,467 units in sales made under exchange programmes despite the sluggish sentiments in the domestic market.
“In urban areas where demand has fallen sharply, we are trying to push sales through our loyalty programmes. Around 1.5 million customers service their vehicles every month, 10 per cent of whom own vehicles which are more than 10 years old. We identify these consumers and offer them loyalty bonus to exchange their cars for new ones,” said a senior executive at Maruti Suzuki.
Additionally, the company registers sales of pre-owned cars. The used car market in India stands at 2.7 million units, however, over 85 per cent of it is currently controlled by players in the unorganised sector. But the convenience and warranty being offered by companies like Maruti Suzuki, Hyundai Motor India, Mahindra and Mahindra and Ford India are increasingly making consumers opt for purchase and sale of pre-owned vehicles through the organised route.
The Maruti Suzuki executive added: “Around 30 per cent of car buyers exchange old vehicles for new ones. At Maruti True Value, we not only help customers in completing documentation work for transferring old vehicles, we repair and offer warranty on pre-owned vehicles. It helps in retaining as well as introducing new customers to our brand.” The company currently has over 420 outlets through which it sells pre-owned cars.
In the last financial year, Maruti Suzuki sold as many as 240,000 pre-owned cars which is nearly a quarter of its overall sales of new vehicles. Hyundai Motor retailed pre-owned vehicles amounting to 15-16 per cent of its sales in the domestic market through Hyundai Advantage outlets last year. The Korean car major sold 84,000 pre-owned vehicles last fiscal. Mahindra First Choice which has 171 outlets is looking at selling 45,000 pre-owned cars this year, an increase of 33 per cent over the 34,000 units sold last year.
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