Pune: Tractor manufacturer Escorts Ltd had inked a partnership with Italian company BCS S.p.A to distribute and sell the speciality Ferrari brand of tractors in India. The first product being launched under the partnership is a 26 HP model that has four equal-sized wheels, an all-time 4-wheel drive and oscillating chassis system suited for use in vineyards and orchards. Initially to be available at select dealerships in Maharashtra, the tractor, which comes at an introductory price of Rs 8 lakh, will be extended for sales across the country, Nikhil Nanda, Joint MD, Escorts said.
The company today also launched a new product in the Farmtrac executive series of premium range tractors launched in April last year. Escorts will initially import the Ferrari tractors from Italy and marketing them through its distribution channels. “As volumes grow, we will take action to make the machines cost competitive and the level of engagement will change,” Nanda said, adding that assembling them locally could also be undertaken in the future.
Success in my Habit
Saturday, February 23, 2013
Escorts inks deal with Italian firm to sell Ferrari tractors
Pune: Tractor manufacturer Escorts Ltd had inked a partnership with Italian company BCS S.p.A to distribute and sell the speciality Ferrari brand of tractors in India. The first product being launched under the partnership is a 26 HP model that has four equal-sized wheels, an all-time 4-wheel drive and oscillating chassis system suited for use in vineyards and orchards. Initially to be available at select dealerships in Maharashtra, the tractor, which comes at an introductory price of Rs 8 lakh, will be extended for sales across the country, Nikhil Nanda, Joint MD, Escorts said.
The company today also launched a new product in the Farmtrac executive series of premium range tractors launched in April last year. Escorts will initially import the Ferrari tractors from Italy and marketing them through its distribution channels. “As volumes grow, we will take action to make the machines cost competitive and the level of engagement will change,” Nanda said, adding that assembling them locally could also be undertaken in the future.
The company today also launched a new product in the Farmtrac executive series of premium range tractors launched in April last year. Escorts will initially import the Ferrari tractors from Italy and marketing them through its distribution channels. “As volumes grow, we will take action to make the machines cost competitive and the level of engagement will change,” Nanda said, adding that assembling them locally could also be undertaken in the future.
Bangalore firm on MIT's 2013 list of 50 innovative companies
Mumbai: Bangalore-based mobile advertising platform and solutions provider InMobi has secured a place in MIT Technology Review’s list of ‘50 Disruptive Companies’ for 2013. It is the only Indian company to have made it to the list.
The list also features Apple, Google, Facebook, General Electric, Square, Pinterest, Safaricom, Audi, etc.
In the ‘50 Disruptive Companies’ list, companies are not based on market performance. The list identifies global companies that are pushing the envelope of current business models to drive innovation and create significant impact in the market. (INNOVATION DRIVERS)
“Over the last 12 months, in their multiple tech fields, the honourees have taken risks to unsettle an existing marketplace or create a new market entirely,” said an MIT Technology Review release.
Only 14 of the 50 companies in this year’s list were featured on the previous list, demonstrating the rapid change and proving a spot on the list was less secure and more valuable than being featured on other industry lists, said a press announcement.
Jason Pontin, publisher and editor-in-chief of MIT Technology Review, said, “The pace at which technology changes is astounding. This issue celebrates organisations at the forefront of radical change, displaying ‘disruptive innovation’ that would prove to surpass competition, transform an industry and change our lives.”
InMobi has customers in 165 countries. About a billion unique users receive advertisements from the company on a monthly basis.
“It validates we are disrupting the space of mobile advertisement. I think over the next 10 years, the cumulative spend on mobile advertisement globally would be about $500 billion, and we want to be part of this growth,” said Naveen Tewari, co-founder and chief executive, InMobi.
Founded in 2007, InMobi employees 800 people and has raised about $215.5 million.
According to the details provided by MIT Technology Review, the company has been challenging Google and Apple in the mobile ads market.
The list also features Apple, Google, Facebook, General Electric, Square, Pinterest, Safaricom, Audi, etc.
In the ‘50 Disruptive Companies’ list, companies are not based on market performance. The list identifies global companies that are pushing the envelope of current business models to drive innovation and create significant impact in the market. (INNOVATION DRIVERS)
“Over the last 12 months, in their multiple tech fields, the honourees have taken risks to unsettle an existing marketplace or create a new market entirely,” said an MIT Technology Review release.
Only 14 of the 50 companies in this year’s list were featured on the previous list, demonstrating the rapid change and proving a spot on the list was less secure and more valuable than being featured on other industry lists, said a press announcement.
Jason Pontin, publisher and editor-in-chief of MIT Technology Review, said, “The pace at which technology changes is astounding. This issue celebrates organisations at the forefront of radical change, displaying ‘disruptive innovation’ that would prove to surpass competition, transform an industry and change our lives.”
InMobi has customers in 165 countries. About a billion unique users receive advertisements from the company on a monthly basis.
“It validates we are disrupting the space of mobile advertisement. I think over the next 10 years, the cumulative spend on mobile advertisement globally would be about $500 billion, and we want to be part of this growth,” said Naveen Tewari, co-founder and chief executive, InMobi.
Founded in 2007, InMobi employees 800 people and has raised about $215.5 million.
According to the details provided by MIT Technology Review, the company has been challenging Google and Apple in the mobile ads market.
Implementation of North Karanpura Super Thermal Power Project by NTPC in Jharkhand
New Delhi: The Cabinet Committee on Investment has cleared the proposal of the Ministry of Power for setting up of the North Karanpura Super Thermal Power Plant (NKSTPP) (3 x 660 MW) by the National Thermal Power Corporation (NTPC) in the vicinity of Tandwa town, district Chatra in Jharkhand. Safeguards according to the recommendation of the Chaturvedi Committee and accepted by the Group of Ministers (GoM) under the chairmanship of Finance Minister will apply.
The Cabinet Committee on Investment also agreed to restore the original coal linkage for the project. The coal supply would be made available in the 13th Plan.
The project to be set up by NTPC will be on a pit-head with environment friendly super-critical technology. The power will be generated by NTPC for about 35 years of plant life.
Execution of the project would lead to generation of 1980 MW of power. This is the first project of NTPC in Jharkhand which will benefit the state and people of Jharkhand where about 26 percent of the population is tribal.
The Cabinet Committee on Investment also agreed to restore the original coal linkage for the project. The coal supply would be made available in the 13th Plan.
The project to be set up by NTPC will be on a pit-head with environment friendly super-critical technology. The power will be generated by NTPC for about 35 years of plant life.
Execution of the project would lead to generation of 1980 MW of power. This is the first project of NTPC in Jharkhand which will benefit the state and people of Jharkhand where about 26 percent of the population is tribal.
Wednesday, February 20, 2013
5 Chennai auto-parts makers forge alliance for solar power
Chennai: Five auto component companies in Chennai are getting together to set up a solar power plant in Tamil Nadu.
The Rane group, MM Forgings, Super Auto Forge, Natesan Industries, and Auto Parts have formed a consortium and are scouting for land in Sivaganga and Tuticorin. The solar farm, with an installed capacity of 7 MW, could entail a total investment of Rs 70 crore.
With Tamil Nadu reeling under a severe power shortage, many companies are increasingly investing on other sources of power to reduce dependence on grid feed. MM Forgings, for instance, has invested in 20 wind mills in Theni and Tirunelveli in southern Tamil Nadu.
“Each company today has to be more power independent, and green power is the best alternative. A common power facility will help bring down individual company costs,” says Vidyashankar Krishnan, Managing Director, MM Forgings.
The annual power generation from the common plant will be 105-125 lakh units. A plant of this nature and size requires around 25 acres.
Each company in the consortium will individually own specific assets, depending on its energy requirement. MM Forgings, for instance, is looking at harnessing 2 MW, while Super Auto is looking at 1 MW.
Keen on More Partners
The consortium is scouting for more partners and suppliers. “If more players join in, we could even look at 10 MW generation,” says Krishnan.
Initially, the consortium had looked at a coal-based power plant. “But that has a three-year gestation period. We also don’t know what the price of coal would be at that point of time. So, we decided to go for solar power,” says Krishnan. The gestation time for a solar power plant is five months; solar panels are also available locally, he adds.
The consortium is set to approach the Tamil Nadu Government for clarity on power pricing and the policy on wheeling power to respective plants, particularly during the load-shedding hours. These are expected to be sorted out by end-March. The plant is expected to be commissioned by September.
The Rane group, MM Forgings, Super Auto Forge, Natesan Industries, and Auto Parts have formed a consortium and are scouting for land in Sivaganga and Tuticorin. The solar farm, with an installed capacity of 7 MW, could entail a total investment of Rs 70 crore.
With Tamil Nadu reeling under a severe power shortage, many companies are increasingly investing on other sources of power to reduce dependence on grid feed. MM Forgings, for instance, has invested in 20 wind mills in Theni and Tirunelveli in southern Tamil Nadu.
“Each company today has to be more power independent, and green power is the best alternative. A common power facility will help bring down individual company costs,” says Vidyashankar Krishnan, Managing Director, MM Forgings.
The annual power generation from the common plant will be 105-125 lakh units. A plant of this nature and size requires around 25 acres.
Each company in the consortium will individually own specific assets, depending on its energy requirement. MM Forgings, for instance, is looking at harnessing 2 MW, while Super Auto is looking at 1 MW.
Keen on More Partners
The consortium is scouting for more partners and suppliers. “If more players join in, we could even look at 10 MW generation,” says Krishnan.
Initially, the consortium had looked at a coal-based power plant. “But that has a three-year gestation period. We also don’t know what the price of coal would be at that point of time. So, we decided to go for solar power,” says Krishnan. The gestation time for a solar power plant is five months; solar panels are also available locally, he adds.
The consortium is set to approach the Tamil Nadu Government for clarity on power pricing and the policy on wheeling power to respective plants, particularly during the load-shedding hours. These are expected to be sorted out by end-March. The plant is expected to be commissioned by September.
Japanese MNC KYB Corporation acquires 50% stake in Conmat Systems
Ahmedabad: Japanese company, KYB Corporation acquired 50% stake in Vadodara-based Conmat Systems Pvt Ltd. KYB which made slightly above Rs 100 crore investments to acquire the stake, is investing for the first in India targeting India's Rs 30,000 crore construction equipments market.
Talking to ET, Premraj Kashyap, managing director of Conmat Systems, "The Japanese company not only wants to target domestic market, but also make India its global export hub for construction equipments". Conmat Systems has 60% domestic market share in Canal Concrete Machine and holds 15% market share in Ready Mix Concrete Plant in India.
The Japanese company plans to bring in technology of Truck Concrete Mixer in India, which would be manufactured by Conmat's facility in India. According the company, KYB Corporation is one of the largest shock absorber manufacturers in the world. The 94 year old Japanese company is listed on the Tokyo Stock Exchange, has 34 manufacturing units, 26 sales locations and over 12,000 employees worldwide. It has annual turnover of more than Rs 20,000 crore.
KYB is also the largest truck mixer producer in Japan, having 85 % market share, and has entered into this strategic partnership with Conmat to become a major player in the Global Construction Equipment market, says the Conmant official. According to the company, this strategic partnership will also accelerate Conmat's growth in term of market position, brand building and product portfolio, well supported by Japanese technology, quality and production systems. The new Joint Venture will be used as a global sourcing hub for construction equipment.
Talking to ET, Premraj Kashyap, managing director of Conmat Systems, "The Japanese company not only wants to target domestic market, but also make India its global export hub for construction equipments". Conmat Systems has 60% domestic market share in Canal Concrete Machine and holds 15% market share in Ready Mix Concrete Plant in India.
The Japanese company plans to bring in technology of Truck Concrete Mixer in India, which would be manufactured by Conmat's facility in India. According the company, KYB Corporation is one of the largest shock absorber manufacturers in the world. The 94 year old Japanese company is listed on the Tokyo Stock Exchange, has 34 manufacturing units, 26 sales locations and over 12,000 employees worldwide. It has annual turnover of more than Rs 20,000 crore.
KYB is also the largest truck mixer producer in Japan, having 85 % market share, and has entered into this strategic partnership with Conmat to become a major player in the Global Construction Equipment market, says the Conmant official. According to the company, this strategic partnership will also accelerate Conmat's growth in term of market position, brand building and product portfolio, well supported by Japanese technology, quality and production systems. The new Joint Venture will be used as a global sourcing hub for construction equipment.
RIL, BP to invest Rs 27k crore in KG-D6 block
New Delhi: Reliance Industries Ltd (RIL) and two partners, BP and Niko Resources, plan to invest Rs 27,127 crore ($5 billion) over the next three to five years in the KG-D6 block to develop four trillion cubic feet (tcf) of discovered natural gas reserves.
In a joint statement issued after a meeting between BP Group CEO Bob Dudley, RIL’s Chairman and Managing Director Mukesh Ambani and Petroleum Minister M Veerappa Moily in Delhi today, the two companies said they have promised to speed up the projects, provided the necessary clearance from the government is in place.
The investment includes field optimisation through compression and water handling, which will augment production starting 2014. Natural gas production from the block has now touched a low of 30 million standard cubic metres a day (mscmd).
RIL has a running dispute with the Comptroller and Auditor General of India (CAG) on the scope of its audit of investment made by the partners. CAG had earlier recommended that clearances for making investment should not be granted till RIL provides required access to the statutory auditor.
Indicating a positive response from the ministry for the big-ticket investment, the statement quoted Moily promising taking necessary measures "to fast track these projects and help them attain economic viability”. Besides clearances for its investment plan, the companies are looking for higher gas price from the government. The KG-D6 gas price, currently fixed at $4.2 a mBtu, is considered unviable by the private companies for deepwater gas. The price is due for revision in April 2014.
At current international liquefied natural gas (LNG) prices, 4 tcf of natural gas would cost more than $50 billion to import this volume of gas into India, said the statement. “We will bring all our expertise in deep water to explore the prolific gas basins in India and BP looks forward to a rewarding and successful exploration programme in the coming years,” said Dudley in the statement.
Dudley is part of the trade delegation accompanying British Prime Minister David Cameron. “BP is already the largest single British investor in India and the decision to join forces with Reliance Industries to invest $5 billion in the next few years into India’s gas markets reinforces how two of Britain and India’s leading companies can work together to invest in and supply the energy needs of the future, creating jobs and boosting prosperity," the statement quoted Cameron.
In a partnership with RIL, BP in 2011 took a 30 per cent stake in multiple oil and gas blocks in India, including the producing KG D6 block and the formation of a 50:50 joint venture to source and market gas in India – India Gas Solutions Private Limited. According to the companies, by the end of 2012, fields in the KG D6 block had produced 2 tcf of gas and 22 million barrels of oil, which would have cost more than $35 billion to import into India at current imported crude oil and LNG prices.
In a joint statement issued after a meeting between BP Group CEO Bob Dudley, RIL’s Chairman and Managing Director Mukesh Ambani and Petroleum Minister M Veerappa Moily in Delhi today, the two companies said they have promised to speed up the projects, provided the necessary clearance from the government is in place.
The investment includes field optimisation through compression and water handling, which will augment production starting 2014. Natural gas production from the block has now touched a low of 30 million standard cubic metres a day (mscmd).
RIL has a running dispute with the Comptroller and Auditor General of India (CAG) on the scope of its audit of investment made by the partners. CAG had earlier recommended that clearances for making investment should not be granted till RIL provides required access to the statutory auditor.
Indicating a positive response from the ministry for the big-ticket investment, the statement quoted Moily promising taking necessary measures "to fast track these projects and help them attain economic viability”. Besides clearances for its investment plan, the companies are looking for higher gas price from the government. The KG-D6 gas price, currently fixed at $4.2 a mBtu, is considered unviable by the private companies for deepwater gas. The price is due for revision in April 2014.
At current international liquefied natural gas (LNG) prices, 4 tcf of natural gas would cost more than $50 billion to import this volume of gas into India, said the statement. “We will bring all our expertise in deep water to explore the prolific gas basins in India and BP looks forward to a rewarding and successful exploration programme in the coming years,” said Dudley in the statement.
Dudley is part of the trade delegation accompanying British Prime Minister David Cameron. “BP is already the largest single British investor in India and the decision to join forces with Reliance Industries to invest $5 billion in the next few years into India’s gas markets reinforces how two of Britain and India’s leading companies can work together to invest in and supply the energy needs of the future, creating jobs and boosting prosperity," the statement quoted Cameron.
In a partnership with RIL, BP in 2011 took a 30 per cent stake in multiple oil and gas blocks in India, including the producing KG D6 block and the formation of a 50:50 joint venture to source and market gas in India – India Gas Solutions Private Limited. According to the companies, by the end of 2012, fields in the KG D6 block had produced 2 tcf of gas and 22 million barrels of oil, which would have cost more than $35 billion to import into India at current imported crude oil and LNG prices.
BSE ties up with S&P Dow Jones Indices
Mumbai: The BSE and the S&P Dow Jones indices are now partners. Every index on the BSE, including the BSE Sensex, BSE 200 and BSE 100 will be co-branded ‘S&P’.
S&P Dow Jones Indices is a global leader in providing investable and benchmark indices to the financial markets.
With this, S&P can now calculate, disseminate and licence the whole suite of BSE’s indices.
India now becomes S&P Dow Jones Indices’ fourth major operational hub to support clients globally, after Hong Kong, London and New York.
“We expect our partnership with S&P Dow Jones Indices will help BSE to raise the growing global acceptance of the Sensex and other BSE index benchmarks, and to help BSE achieve a leadership position in the index derivatives space,” said Ashish Chauhan, MD and CEO of BSE.
“This partnership fortifies and expands BSE and S&P Dow Jones Indices’ presence in India and in South Asia, while providing a springboard for our efforts in the ASEAN region with an important exchange partner that understands this critical segment of the market,” said Alexander Matturri, Chief Executive Officer of S&P Dow Jones Indices.
S&P Dow Jones Indices is a global leader in providing investable and benchmark indices to the financial markets.
With this, S&P can now calculate, disseminate and licence the whole suite of BSE’s indices.
India now becomes S&P Dow Jones Indices’ fourth major operational hub to support clients globally, after Hong Kong, London and New York.
“We expect our partnership with S&P Dow Jones Indices will help BSE to raise the growing global acceptance of the Sensex and other BSE index benchmarks, and to help BSE achieve a leadership position in the index derivatives space,” said Ashish Chauhan, MD and CEO of BSE.
“This partnership fortifies and expands BSE and S&P Dow Jones Indices’ presence in India and in South Asia, while providing a springboard for our efforts in the ASEAN region with an important exchange partner that understands this critical segment of the market,” said Alexander Matturri, Chief Executive Officer of S&P Dow Jones Indices.
India-UK CEO forum push for tie-ups in education, infra, defence, power
New Delhi: Corporate big-wigs from top companies in India and the UK on Tuesday had a brain storming session on intensifying cooperation between the two countries. The British side identified infrastructure, education, defence, energy and retail as focus areas.
The India-UK CEO’s Forum led by Tata Group Chairman Ratan Tata and Standard Chartered chief Peter Sands met here to take stock of the current business ties and give proposals to the two governments on how they could be strengthened.
“The CEO’s Forum has made focused, specific, and practical recommendations to enhance partnership between India and UK focusing on trade, institutional linkages in education for research and development and also defence. We will be taking forward its recommendations,” Commerce and Industry Minister Anand Sharma has said.
Other British participants in the forum included Simon Collins from KPMG, Ian Taylor from construction company Balfour Beatty and Mark Walport from charity trust Wellcome.
Indian participants included Adi Godrej from Godrej Group, Sunil Mittal from Bharti Enterprises, Y.C. Deveshwar from ITC and Chanda Kochhar from ICICI Bank.
The UK is India’s third largest trading partner within the EU and the sixteenth largest in the world.
“The British side has shown keen interest to work with India for establishing national manufacturing and industrial zones,” Sharma said.
Two of these investment regions will come along the proposed Bangalore-Mumbai Industrial Corridor which will link up with the Delhi-Mumbai Industrial Corridor.
“We hope that the experience in advanced manufacturing and the technologies that Britain has in diverse sectors, including nanotechnology, aerospace, biotechnology, and life sciences, would be used,” the Minister added.
The CEOs also discussed other areas including education, energy, defence and the retail sector.
“One important sector which I did not mention earlier is energy sector. Those are decisions that would be made (in the energy sector),” Sharma said. A number of British companies in the energy sector including British Petroleum, Cairn and Powergen have made investments in India.
On retail, the Minister said that British companies were interested in entering the segment and while the CEO’s Forum was not a forum to make business propositions, he had fruitful meetings during his recent UK visit.
India liberalised foreign direct investment in the retail sector, both single-brand and multi-brand, recently.
“When I was in Davos, and recently in London, the Chairman of Tesco had met me which was followed by a meeting with the CEO. We hope that there would be proposals, but these will be their decisions,” he said.
The UK-India CEO’s Forum was established two years ago and brings together businesses in both countries.
The India-UK CEO’s Forum led by Tata Group Chairman Ratan Tata and Standard Chartered chief Peter Sands met here to take stock of the current business ties and give proposals to the two governments on how they could be strengthened.
“The CEO’s Forum has made focused, specific, and practical recommendations to enhance partnership between India and UK focusing on trade, institutional linkages in education for research and development and also defence. We will be taking forward its recommendations,” Commerce and Industry Minister Anand Sharma has said.
Other British participants in the forum included Simon Collins from KPMG, Ian Taylor from construction company Balfour Beatty and Mark Walport from charity trust Wellcome.
Indian participants included Adi Godrej from Godrej Group, Sunil Mittal from Bharti Enterprises, Y.C. Deveshwar from ITC and Chanda Kochhar from ICICI Bank.
The UK is India’s third largest trading partner within the EU and the sixteenth largest in the world.
“The British side has shown keen interest to work with India for establishing national manufacturing and industrial zones,” Sharma said.
Two of these investment regions will come along the proposed Bangalore-Mumbai Industrial Corridor which will link up with the Delhi-Mumbai Industrial Corridor.
“We hope that the experience in advanced manufacturing and the technologies that Britain has in diverse sectors, including nanotechnology, aerospace, biotechnology, and life sciences, would be used,” the Minister added.
The CEOs also discussed other areas including education, energy, defence and the retail sector.
“One important sector which I did not mention earlier is energy sector. Those are decisions that would be made (in the energy sector),” Sharma said. A number of British companies in the energy sector including British Petroleum, Cairn and Powergen have made investments in India.
On retail, the Minister said that British companies were interested in entering the segment and while the CEO’s Forum was not a forum to make business propositions, he had fruitful meetings during his recent UK visit.
India liberalised foreign direct investment in the retail sector, both single-brand and multi-brand, recently.
“When I was in Davos, and recently in London, the Chairman of Tesco had met me which was followed by a meeting with the CEO. We hope that there would be proposals, but these will be their decisions,” he said.
The UK-India CEO’s Forum was established two years ago and brings together businesses in both countries.
Neyveli Lignite joint venture ties up funds for power project in TN
Chennai: NLC-Tamil Nadu Power Ltd has entered into an Rs 937-crore loan agreement with a Bank of India-led consortium to part fund a 1,000 MW power project, according to a press release from Neyveli Lignite.
The agreement was signed today with the consortium which includes Indian Bank and Central Bank of India.
The NLC-Tamil Nadu Power is a joint venture between Neyveli Lignite Corporation and the Tamil Nadu Generation and Distribution Corporation Ltd (Tangedco) for the 2x500 MW power plant in Tuticorin. NLC holds an 89 per cent stake in the project with Tangedco holding the balance 11 per cent.
The Government of India sanctioned the Rs 4,909.54-crore project in May 2008. In 2010, a bank consortium led by Bank of Baroda lent Rs 2,500 crore.
The coal linkage is being tied up with Mahanadhi Coalfields Ltd (MCL), a subsidiary of Coal India Ltd.
Land for the project is taken from VOC Port Trust, Tuticorin, on long-term lease basis.
The power generated from this project will cater to the states in the Southern Region. Power purchase agreements have been signed with Tangedco and other SEBs.
All the major package contracts are awarded and the project under implementation has reached the physical progress of around 70 per cent. The first unit is expected to be commissioned in December 2013, followed by another unit in March 2014.
The agreement was signed today with the consortium which includes Indian Bank and Central Bank of India.
The NLC-Tamil Nadu Power is a joint venture between Neyveli Lignite Corporation and the Tamil Nadu Generation and Distribution Corporation Ltd (Tangedco) for the 2x500 MW power plant in Tuticorin. NLC holds an 89 per cent stake in the project with Tangedco holding the balance 11 per cent.
The Government of India sanctioned the Rs 4,909.54-crore project in May 2008. In 2010, a bank consortium led by Bank of Baroda lent Rs 2,500 crore.
The coal linkage is being tied up with Mahanadhi Coalfields Ltd (MCL), a subsidiary of Coal India Ltd.
Land for the project is taken from VOC Port Trust, Tuticorin, on long-term lease basis.
The power generated from this project will cater to the states in the Southern Region. Power purchase agreements have been signed with Tangedco and other SEBs.
All the major package contracts are awarded and the project under implementation has reached the physical progress of around 70 per cent. The first unit is expected to be commissioned in December 2013, followed by another unit in March 2014.
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