New Delhi: Providing a big boost to the power sector, Coal India Limited (CIL) has signed 82 FSAs as on 25.07.2013, with power stations with a capacity of 34,793 MW. This includes 16 power stations belonging to NTPC and its Joint Venture companies (JVs).
11 more FSAs are ready to be signed shortly with NTPC or its JVs, while another 23 FSAs with State and private sector entities are in the pipeline. These FSAs were part of the 131 FSAs for a capacity of 60,678 MW which CIL was directed to sign in February, 2012. This will substantially increase the power generation during the current and subsequent years.
In yet another fillip to the power sector, Ministry of Coal has issued another Presidential Directive to CIL on 17.07.2013 for signing of FSAs for a capacity of 78,000 MW instead of the earlier 60,678 MW. This will not only increase the power generation further but will also fast track several power projects which are under development.
Success in my Habit
Monday, July 29, 2013
Over 1759 MW of projects commissioned under National Solar Mission
Chennai: Over 1759.43 megawatts (MW) of grid connected solar power projects have been commissioned in the country as on 31 May 2013, under the Jawaharlal Nehru National Solar Mission (JNNSM).
The JNNSM programme is the ministry of new and renewable energy's three-phase approach to encourage the adoption of solar power in India, and is being done in different batches under the three broad phases.
Eleven projects of 50.50 MW capacity under migration scheme, 26 projects of 130 MW capacity under Batch-I of the solar mission and 69 projects totalling 88.80 MW of small capacity power projects have been commissioned, according to a statement from the press information bureau (PIB).
A total capacity of 252.50 MW off-grid solar power projects has been sanctioned and 60 MW have been commissioned. About 70.01 lakh sq. meter of collector area of solar thermal systems have been installed against a target of 70 lakh sq. meter of collector area, the PIB statement said.
The JNNSM was launched on 11January 2010 with the target of deploying 20,000 MW of grid connected solar power by 2022. The first phase of this mission aims to commission 1000MW of grid-connected solar power projects by 2013, having been launched last year. The second phase is to last until 2017 and the third will be on till 2022 with the aim of reaching 20 gigawatt (GW).
The Batch-I of the second phase, which includes off-grid projects, was expected to begin by April 1 2013, but has been delayed.
The JNNSM programme is the ministry of new and renewable energy's three-phase approach to encourage the adoption of solar power in India, and is being done in different batches under the three broad phases.
Eleven projects of 50.50 MW capacity under migration scheme, 26 projects of 130 MW capacity under Batch-I of the solar mission and 69 projects totalling 88.80 MW of small capacity power projects have been commissioned, according to a statement from the press information bureau (PIB).
A total capacity of 252.50 MW off-grid solar power projects has been sanctioned and 60 MW have been commissioned. About 70.01 lakh sq. meter of collector area of solar thermal systems have been installed against a target of 70 lakh sq. meter of collector area, the PIB statement said.
The JNNSM was launched on 11January 2010 with the target of deploying 20,000 MW of grid connected solar power by 2022. The first phase of this mission aims to commission 1000MW of grid-connected solar power projects by 2013, having been launched last year. The second phase is to last until 2017 and the third will be on till 2022 with the aim of reaching 20 gigawatt (GW).
The Batch-I of the second phase, which includes off-grid projects, was expected to begin by April 1 2013, but has been delayed.
Friday, July 26, 2013
Fashion designing in vogue
Mumbai: India's management education segment isn't the only attraction for national and international players; fashion designing also ranks high on their popularity lists.
After France-based Lisaa School of Design, which opened a centre in India two years ago, the latest entrant in the segment is Italy-based Istituto Marangoni, which set up an office in Mumbai, the first in India, last week. The institute's liaison office would help Indian student secure admissions to its campuses in Milan, London, Shanghai and Paris, and forge partnerships in fashion and design with the entities concerned in India.
Another recent entrant was film-maker Subhash Ghai-promoted Whistling Woods International, which set up a fashion school in partnership with fashion designer Neeta Lulla. The school, Whistling Woods-Neeta Lulla School of Fashion, would commence classes next month in Mumbai. The school, of which Lulla would be the dean, would offer a one-year diploma in fashion design for Rs 5 lakh and a two-year advanced diploma for Rs 8.36 lakh.
These schools, in addition to the existing National Institute of Fashion Technology (NIFT) (which has 15 centres), National Institute of Design (three centres) and Pearl Academy of Fashion, would cater to the growing demands of India's fashion industry. According to estimates, the Indian design and fashion industry is worth Rs 20,000 crore. Of this, branded wear accounts for about a fifth. Over and above this, there are segments such as footwear design, product design and accessories design, which are yet to be fully tapped.
Dario Cattaneo, group sales director at Istituto Marangoni, said, "We are looking to expand our business outside Europe. We have seen a 20 per cent growth year-on-year in the number of Indian students coming to our campus."
Lisaa School of Design provides an exchange programme and an option for students to complete their final course year or the final project in France. "The art and design scene in Europe, especially Paris, is more culturally and deeply entrenched. We can't separate Lisaa from the essence of French art and design, which is exactly the flavour we wish for our Indian students to experience," said Sarabjit Singh, chief executive of Lisaa School of Design, India.
Lisaa France, which has been around for about 30 years, has campuses in Paris, Nantes, Rennes and Strasbourg.
The school, which began operations in India with four students, now has 100 students across many of its programmes. In terms of placements, it partners about 200 brands, firms and design houses, including Eurodisney, Alstom, Habitat, Ikea, BNP Paribas, Louis Vuitton Moet Hannessy, Hermes Paris, Prada, Alcatel, Saatchi & Saatchi and Christian Dior.
Growing fashion awareness among Indians, good placements and the ease of launching one's own label in fashion designing makes this segment exciting and popular. Yashika Rama (name changed), who graduated from NIFT-Delhi two years ago, has set up her own boutique in South Delhi. The boutique records an annual turnover of Rs 6 crore.
"These days, being fashion-conscious means being aware. I have clients as young as 14 who know what fashion is all about. Growing awareness means more business for fashion designers," said Rama. She aims to double her turnover in the 18-24 months.
As many students graduating from design schools join companies that have design divisions, placements aren't an issue. While the salary packages varies, the list of companies keeps increasing, institutes say. For instance, at Pearl Academy in Delhi, while the count of recruiters was about 70 last year, about 100 companies came to the campus this year. At NIFT, Trident, a first-time recruiter, offered salaries of Rs 15 lakh a year to master's degree holders and Rs 9 lakh a year to bachelor's students, in the first round of placements. New firms visiting the campus included Adidas, Samsung, Hennes & Mauritz and Brand Marketing India.
The average salary for an entry-level position for a fashion technology or design student ranges from Rs 3 lakh to Rs 6 lakh, depending on the size of the firm. If a student manages to secure a job at a design company run by celebrity designers such as Satya Paul, Ritu Kumar and Tarun Tahiliani, the starting salary is 20-30 per cent higher, experts say. An average fashion design course costs between Rs 5 lakh and Rs 20 lakh, depending on whether it is a national or an international institution.
Cattaneo says while the number of players in this segment is increasing, a better location and teaching methodology would be Istituto Marangoni's unique selling point. While several fashion companies from Europe came to the institute's campus, he said several students were interested in setting up their own ventures. The institute has offered ^1 million worth of scholarships and is looking at similar schemes for the design school, too.
"Studies show in the next five years, the fashion industry in India would record average 15 per cent growth. Corporations have understood this potential well and, hence, the spurt in the number of institutes," said an education consultant with a global consulting firm.
After France-based Lisaa School of Design, which opened a centre in India two years ago, the latest entrant in the segment is Italy-based Istituto Marangoni, which set up an office in Mumbai, the first in India, last week. The institute's liaison office would help Indian student secure admissions to its campuses in Milan, London, Shanghai and Paris, and forge partnerships in fashion and design with the entities concerned in India.
Another recent entrant was film-maker Subhash Ghai-promoted Whistling Woods International, which set up a fashion school in partnership with fashion designer Neeta Lulla. The school, Whistling Woods-Neeta Lulla School of Fashion, would commence classes next month in Mumbai. The school, of which Lulla would be the dean, would offer a one-year diploma in fashion design for Rs 5 lakh and a two-year advanced diploma for Rs 8.36 lakh.
These schools, in addition to the existing National Institute of Fashion Technology (NIFT) (which has 15 centres), National Institute of Design (three centres) and Pearl Academy of Fashion, would cater to the growing demands of India's fashion industry. According to estimates, the Indian design and fashion industry is worth Rs 20,000 crore. Of this, branded wear accounts for about a fifth. Over and above this, there are segments such as footwear design, product design and accessories design, which are yet to be fully tapped.
Dario Cattaneo, group sales director at Istituto Marangoni, said, "We are looking to expand our business outside Europe. We have seen a 20 per cent growth year-on-year in the number of Indian students coming to our campus."
Lisaa School of Design provides an exchange programme and an option for students to complete their final course year or the final project in France. "The art and design scene in Europe, especially Paris, is more culturally and deeply entrenched. We can't separate Lisaa from the essence of French art and design, which is exactly the flavour we wish for our Indian students to experience," said Sarabjit Singh, chief executive of Lisaa School of Design, India.
Lisaa France, which has been around for about 30 years, has campuses in Paris, Nantes, Rennes and Strasbourg.
The school, which began operations in India with four students, now has 100 students across many of its programmes. In terms of placements, it partners about 200 brands, firms and design houses, including Eurodisney, Alstom, Habitat, Ikea, BNP Paribas, Louis Vuitton Moet Hannessy, Hermes Paris, Prada, Alcatel, Saatchi & Saatchi and Christian Dior.
Growing fashion awareness among Indians, good placements and the ease of launching one's own label in fashion designing makes this segment exciting and popular. Yashika Rama (name changed), who graduated from NIFT-Delhi two years ago, has set up her own boutique in South Delhi. The boutique records an annual turnover of Rs 6 crore.
"These days, being fashion-conscious means being aware. I have clients as young as 14 who know what fashion is all about. Growing awareness means more business for fashion designers," said Rama. She aims to double her turnover in the 18-24 months.
As many students graduating from design schools join companies that have design divisions, placements aren't an issue. While the salary packages varies, the list of companies keeps increasing, institutes say. For instance, at Pearl Academy in Delhi, while the count of recruiters was about 70 last year, about 100 companies came to the campus this year. At NIFT, Trident, a first-time recruiter, offered salaries of Rs 15 lakh a year to master's degree holders and Rs 9 lakh a year to bachelor's students, in the first round of placements. New firms visiting the campus included Adidas, Samsung, Hennes & Mauritz and Brand Marketing India.
The average salary for an entry-level position for a fashion technology or design student ranges from Rs 3 lakh to Rs 6 lakh, depending on the size of the firm. If a student manages to secure a job at a design company run by celebrity designers such as Satya Paul, Ritu Kumar and Tarun Tahiliani, the starting salary is 20-30 per cent higher, experts say. An average fashion design course costs between Rs 5 lakh and Rs 20 lakh, depending on whether it is a national or an international institution.
Cattaneo says while the number of players in this segment is increasing, a better location and teaching methodology would be Istituto Marangoni's unique selling point. While several fashion companies from Europe came to the institute's campus, he said several students were interested in setting up their own ventures. The institute has offered ^1 million worth of scholarships and is looking at similar schemes for the design school, too.
"Studies show in the next five years, the fashion industry in India would record average 15 per cent growth. Corporations have understood this potential well and, hence, the spurt in the number of institutes," said an education consultant with a global consulting firm.
Videocon Mobile Service to invest Rs 800 crore in Gujarat
Ahmedabad: Telecom service provider Videocon Mobile Services will invest Rs 800 crore in Gujarat for opening over 500 towers and 150 exclusive outlets in the current fiscal. The company is looking at regaining its lost ground after it lost the 2G licence. It achieved a five fold increase in Mobile Number Portability in last three months, claimed the official.
"We have 4,096 towers in the state and will add another 500 in the current fiscal. Another 1,000 will be added in the next fiscal," company CEO Arvind Bali told media persons in the city. The company already added 1,291 towers in June 2013. It also plans to increase its exclusive stores from 42 to 200 in Gujarat. It has decided to open 500 dedicated stores in the country by March 2014. It has already invested Rs 400 crore in Gujarat.
The company registered the second highest number of new subscribers in May and June in Gujarat, bringing its total subscriber base in the state to 8.5 lakh. "About 20- 25% of new subscribers were migrants from other service providers who have availed of Mobile Number Portability (MNP) facility. This was a five-times increase in MNP subscribers in the last three months. Within 6 months of comeback we have added second highest net subscriber additions in the state for last 2 consecutive months," he said.
Videocon is now focusing of increasing the consumption of data by its consumers. It claims that its GPRS service is one of the major reasons for growing its subscriber base in the state.
"We have 4,096 towers in the state and will add another 500 in the current fiscal. Another 1,000 will be added in the next fiscal," company CEO Arvind Bali told media persons in the city. The company already added 1,291 towers in June 2013. It also plans to increase its exclusive stores from 42 to 200 in Gujarat. It has decided to open 500 dedicated stores in the country by March 2014. It has already invested Rs 400 crore in Gujarat.
The company registered the second highest number of new subscribers in May and June in Gujarat, bringing its total subscriber base in the state to 8.5 lakh. "About 20- 25% of new subscribers were migrants from other service providers who have availed of Mobile Number Portability (MNP) facility. This was a five-times increase in MNP subscribers in the last three months. Within 6 months of comeback we have added second highest net subscriber additions in the state for last 2 consecutive months," he said.
Videocon is now focusing of increasing the consumption of data by its consumers. It claims that its GPRS service is one of the major reasons for growing its subscriber base in the state.
India’s longest bridge to come up in North-East by 2016
New Delhi: India’s longest bridge is being planned across the Brahmaputra at Bogibeel in Assam. The 4.94 km rail-cum-road bridge, expected to be a lifeline for the Northeastern states, is scheduled to be completed in 2016.
The bridge is a product of the 1985 Assam Accord and is being implemented by the North East Frontier Railway. The bridge will provide connectivity to upper Assam and Arunachal Pradesh.
The rail link would connect the two existing railway networks running along south and north banks of the river, according to the Railway officials. The rail link will begin from Chaulkhowa and Moranhat stations at south bank and joins in between Sisibargaon and Siripani stations of Rangiya-Murkongselek section in north bank.
The travel time is expected to be reduced to a few minutes, from the current one-and-a-half hour, to cross the river once the bridge is inaugurated; besides the movement of goods will also be possible on a larger scale.
The bridge is a product of the 1985 Assam Accord and is being implemented by the North East Frontier Railway. The bridge will provide connectivity to upper Assam and Arunachal Pradesh.
The rail link would connect the two existing railway networks running along south and north banks of the river, according to the Railway officials. The rail link will begin from Chaulkhowa and Moranhat stations at south bank and joins in between Sisibargaon and Siripani stations of Rangiya-Murkongselek section in north bank.
The travel time is expected to be reduced to a few minutes, from the current one-and-a-half hour, to cross the river once the bridge is inaugurated; besides the movement of goods will also be possible on a larger scale.
Railways expects Rs 1 lakh cr investment in PPP projects
Kolkata: The Indian Railways expects Rs 1 lakh crore investment in PPP projects in the 12th Plan period (2012-17), said Manoj Singh, Advisor-Transport, Planning Commission of India, on Wednesday.
“During the 11th Plan period, the Railways received a mere Rs 3,000 crore investment through public-private partnership route. We expect PPP investments in the current plan Period to be worth Rs 1 lakh crore," Singh said while addressing a CII seminar on logistics here.
The Government has chalked out six unique models to relax the norms to attract more PPP investments.
Singh added "underfunding" has been a major challenge in expanding rail connectivity.
“During the 11th Plan period, the Railways received a mere Rs 3,000 crore investment through public-private partnership route. We expect PPP investments in the current plan Period to be worth Rs 1 lakh crore," Singh said while addressing a CII seminar on logistics here.
The Government has chalked out six unique models to relax the norms to attract more PPP investments.
Singh added "underfunding" has been a major challenge in expanding rail connectivity.
India, Belarus Sign Protocol to Boost Trade Ties
New Delhi: The 6th Session of the India-Belarus Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation was held today here. The session was co-chaired from the Indian Side by Dr. E.M. Sudarsana Natchiappan, Minister of State for Commerce and Industry and Mr. Dmitry S. Katerinich, Minister of Industry of the Republic of Belarus.
Highlighting that the meeting is yet another step in the direction of strengthening trade and economic relations between the two countries, Dr. Natchiappan said that “sectors like pharmaceutical, fertilizers, information technology and research & development offer tremendous potential for cooperation between India and Belarus.” Elaborating on the fertilizer sector, the Indian Minister conveyed that “India is looking for long-term contracts for supply of potash to meet its growing requirements.” He also added that Indian companies can also look for “opportunities for setting up joint ventures in Belarus for production of potash-based fertilizers.” The Belarusian side recommended India to determine an Indian counterpart deputed to negotiate on the long-term cooperation agreement, take decisions and signing of the agreement for the full volume of the deliveries. The JSC “Belaruain Potash Company” and an Indian counterpart to be nominated by the Government of India should finalise the volumes, terms and conditions of the long-term cooperation agreement for MOP deliveries to India within specified time period.
The two Ministers also signed a Protocol after the Meeting. It was decided by both the sides that necessary steps will be taken to sign the Memorandum of Understanding between the Ministry of Textiles, India and the Belarusian State Concern for Manufacturing and Marketing of Light Industry Goods (concern “Bellegprom”) on Cooperation in the Field of Textiles, Clothing and Fashion Industries.
The Republic of Belarus also asked India to recognise Belarus as a market economy country. The Indian side responded that the matter is under active correspondence between the sides. India is considering the issue of grant of market economy status to Belarus within the framework of India’s Antidumping Rules. The Indian side stated that the matter is being examined positively and the official decision would be taken before the next session of the Commission.
The Belarusian side flagged the issue related to the introduction and long duration of action of antidumping duties on a number of products of the petrochemical complex: tire cord fabric manufactured by JSC “Grodno Azot” and acrylics fibers manufactured by the plant “Polymir” of the OJSC “Naftan”. Belarus advocated for revocation of the antidumping duties on these goods and expressed the intension to maintain the export of the products to India, mostly of interest to Indian consumers.
Both the sides also agreed to create a Certification Centre of Belarusian companies and professionals in the field of software at the earliest possible time. The Belarusian Side will provide a draft concept of the Certification Centre of Belarusian companies and professionals in the field of software to initiate negotiations with the Indian Side.
The Belarusian delegation proposed to hold the 9th meeting of the Business Council “India-Belarus” in 2013 to promote the collaboration of business representatives, as well as agreed to define the dates of the National Exhibition (exposition) of the Republic of India during 2013-2014 in Minsk.
Highlighting that the meeting is yet another step in the direction of strengthening trade and economic relations between the two countries, Dr. Natchiappan said that “sectors like pharmaceutical, fertilizers, information technology and research & development offer tremendous potential for cooperation between India and Belarus.” Elaborating on the fertilizer sector, the Indian Minister conveyed that “India is looking for long-term contracts for supply of potash to meet its growing requirements.” He also added that Indian companies can also look for “opportunities for setting up joint ventures in Belarus for production of potash-based fertilizers.” The Belarusian side recommended India to determine an Indian counterpart deputed to negotiate on the long-term cooperation agreement, take decisions and signing of the agreement for the full volume of the deliveries. The JSC “Belaruain Potash Company” and an Indian counterpart to be nominated by the Government of India should finalise the volumes, terms and conditions of the long-term cooperation agreement for MOP deliveries to India within specified time period.
The two Ministers also signed a Protocol after the Meeting. It was decided by both the sides that necessary steps will be taken to sign the Memorandum of Understanding between the Ministry of Textiles, India and the Belarusian State Concern for Manufacturing and Marketing of Light Industry Goods (concern “Bellegprom”) on Cooperation in the Field of Textiles, Clothing and Fashion Industries.
The Republic of Belarus also asked India to recognise Belarus as a market economy country. The Indian side responded that the matter is under active correspondence between the sides. India is considering the issue of grant of market economy status to Belarus within the framework of India’s Antidumping Rules. The Indian side stated that the matter is being examined positively and the official decision would be taken before the next session of the Commission.
The Belarusian side flagged the issue related to the introduction and long duration of action of antidumping duties on a number of products of the petrochemical complex: tire cord fabric manufactured by JSC “Grodno Azot” and acrylics fibers manufactured by the plant “Polymir” of the OJSC “Naftan”. Belarus advocated for revocation of the antidumping duties on these goods and expressed the intension to maintain the export of the products to India, mostly of interest to Indian consumers.
Both the sides also agreed to create a Certification Centre of Belarusian companies and professionals in the field of software at the earliest possible time. The Belarusian Side will provide a draft concept of the Certification Centre of Belarusian companies and professionals in the field of software to initiate negotiations with the Indian Side.
The Belarusian delegation proposed to hold the 9th meeting of the Business Council “India-Belarus” in 2013 to promote the collaboration of business representatives, as well as agreed to define the dates of the National Exhibition (exposition) of the Republic of India during 2013-2014 in Minsk.
ArcelorMittal gets 2,000 acres to set up steel plant in Bellary
Bangalore: The Karnataka government has handed over 2,000 acres at Kuditini in the Bellary district to global steel giant ArcelorMittal to set up a six-million tonne-per-annum (mtpa) plant. The company had signed a memorandum of understanding (MoU) with the state government to set up the plant at an investment of Rs 30,000 crore.
Chief Minister Siddaramaiah said at a meeting of global investors in June 2010, the government had approved the company’s proposal for 4,800 acres to set up a steel plant. So far, the Karnataka Industrial Areas Development Board has acquired 2,000 acres and handed over the land to the company.
Replying to a question from Shivalingegowda K M in the legislative assembly on Tuesday, the chief minister clarified the proposal to acquire land for South Korean steel major Posco was dropped, following resistance from farmers and religious heads in Gadag district.
In 2010, Posco had signed an MoU with the state government to set up a six-mtpa steel plant at a cost of Rs 32,300 crore. Recently, the company announced it had withdrawn its proposal, following delay in land acquisition. Subsequently, ArcelorMittal also announced the withdrawal of its proposal to set up a steel plant in Odisha.
Siddaramaiah said so far, the government had handed over 1,274.53 acres to industries that had signed MoUs at the investors’ meeting in 2010 (excluding ArcelorMittal) and 794.45 acres to those that had signed such pacts at a similar meeting in 2012. Of the companies that had signed MoUs in 2010, 22 had commenced manufacturing, while nine companies that had signed pacts with the state government in 2012 had started manufacturing, he added.
He said so far, Rs 18,061 crore committed in 2010 and Rs 3,363 crore committed in 2012 had been invested in the state. Major companies to have invested in the state are Mangalore Refinery and Petrochemicals (Rs 15,798 crore), Honda Motorcycle and Scooter India (Rs 1,350 crore), J K Tyre & Industries (Rs 476 crore), Jindal Aluminium (Rs 370 crore), Starragheckert Machine Tools (Rs 215 crore), Hindustan Coca-Cola Beverages (Rs 250 crore), Aradya Steel (Rs 427 crore) and Shahi Exports (Rs 533 crore).
Chief Minister Siddaramaiah said at a meeting of global investors in June 2010, the government had approved the company’s proposal for 4,800 acres to set up a steel plant. So far, the Karnataka Industrial Areas Development Board has acquired 2,000 acres and handed over the land to the company.
Replying to a question from Shivalingegowda K M in the legislative assembly on Tuesday, the chief minister clarified the proposal to acquire land for South Korean steel major Posco was dropped, following resistance from farmers and religious heads in Gadag district.
In 2010, Posco had signed an MoU with the state government to set up a six-mtpa steel plant at a cost of Rs 32,300 crore. Recently, the company announced it had withdrawn its proposal, following delay in land acquisition. Subsequently, ArcelorMittal also announced the withdrawal of its proposal to set up a steel plant in Odisha.
Siddaramaiah said so far, the government had handed over 1,274.53 acres to industries that had signed MoUs at the investors’ meeting in 2010 (excluding ArcelorMittal) and 794.45 acres to those that had signed such pacts at a similar meeting in 2012. Of the companies that had signed MoUs in 2010, 22 had commenced manufacturing, while nine companies that had signed pacts with the state government in 2012 had started manufacturing, he added.
He said so far, Rs 18,061 crore committed in 2010 and Rs 3,363 crore committed in 2012 had been invested in the state. Major companies to have invested in the state are Mangalore Refinery and Petrochemicals (Rs 15,798 crore), Honda Motorcycle and Scooter India (Rs 1,350 crore), J K Tyre & Industries (Rs 476 crore), Jindal Aluminium (Rs 370 crore), Starragheckert Machine Tools (Rs 215 crore), Hindustan Coca-Cola Beverages (Rs 250 crore), Aradya Steel (Rs 427 crore) and Shahi Exports (Rs 533 crore).
Ford's project B562 to make India a compact car global production base
Mumbai: US carmaker Ford Motor Company is making India as a compact car global production base once its Sanand plant in Gujarat comes on stream in 2014, under a project codenamed B562 that may spawn three different compact cars from the same platform.
ET learns the move is part of Ford's larger global production restructuring plan which places greater responsibility on India versus its other base in Europe and across the world. Four people close to the development told ET, a project codenamed B562 is currently under development.
A small hatchback, a sub-4 metre sedan and a midsize compact sedan are being considered to be rolled out over the next two three years.
The development work of hatchback and mid-size compact sedan is gathering speed, however sub-4 metre sedan is still at a consideration stage, said people in the know of the development.
Underlining the growing significance of India as a base Alan Mulally, Global CEO of Ford Motor Company in a recent media interaction in India said, "The demand is dramatically down for cars in Europe, like it was in United States. So we are moving production, consolidating our facilities, but at the same time, we are accelerating the new vehicles. Customers want value, so it is going to take us a couple of years to finish that restructuring, we are doing the right thing for the customers and right thing for Ford,"
The hatchback may be placed alongside the existing Figo, the sub-4 metre sedan if given a go ahead will take on Maruti SuzukiBSE -3.00 % Dzire and Honda Amaze and the mid-size compact sedan will replace Fiesta classic. Globally the hatchback is expected to replace the Ka small car, people close to the company told ET.
"The company plans to produce over 2,00,000 cars on B562 platform by 2015-16 and over 30-50% is planned to be exported to the overseas markets over a period of time. The company tested the overseas markets with Figo, they now plan to aggressively expand exports with the EcoSport and with the B562 cars, the company intends to make the best use of its competitive production base in India," said one of the four people cited above on condition on anonymity.
When contacted, Ford India's spokesperson said, "We would not speculate about our future product strategy and business operations. Ford India's product-led transformation continues with the introduction of the EcoSport and currently we have a laser sharp focus to deliver it for our customers."
While the company terms EcoSport as a game changer, people involved with the company believe, the B562 is a even bigger deal. "The cars are being developed with an aim of garnering profits quicker than some of the earlier projects. In terms of volumes, the platform will deliver largest volumes for Ford India going ahead and is expected to come with a localisation level of over 90%."
According to V G Ramakrishnan, MD, Frost & Sullivan, South Asia, a big exports push helps Ford in not only getting the pricing right for the domestic market like it did with EcoSport, but it helps the company democratize some of the high end technology at affordable price.
ET learns the move is part of Ford's larger global production restructuring plan which places greater responsibility on India versus its other base in Europe and across the world. Four people close to the development told ET, a project codenamed B562 is currently under development.
A small hatchback, a sub-4 metre sedan and a midsize compact sedan are being considered to be rolled out over the next two three years.
The development work of hatchback and mid-size compact sedan is gathering speed, however sub-4 metre sedan is still at a consideration stage, said people in the know of the development.
Underlining the growing significance of India as a base Alan Mulally, Global CEO of Ford Motor Company in a recent media interaction in India said, "The demand is dramatically down for cars in Europe, like it was in United States. So we are moving production, consolidating our facilities, but at the same time, we are accelerating the new vehicles. Customers want value, so it is going to take us a couple of years to finish that restructuring, we are doing the right thing for the customers and right thing for Ford,"
The hatchback may be placed alongside the existing Figo, the sub-4 metre sedan if given a go ahead will take on Maruti SuzukiBSE -3.00 % Dzire and Honda Amaze and the mid-size compact sedan will replace Fiesta classic. Globally the hatchback is expected to replace the Ka small car, people close to the company told ET.
"The company plans to produce over 2,00,000 cars on B562 platform by 2015-16 and over 30-50% is planned to be exported to the overseas markets over a period of time. The company tested the overseas markets with Figo, they now plan to aggressively expand exports with the EcoSport and with the B562 cars, the company intends to make the best use of its competitive production base in India," said one of the four people cited above on condition on anonymity.
When contacted, Ford India's spokesperson said, "We would not speculate about our future product strategy and business operations. Ford India's product-led transformation continues with the introduction of the EcoSport and currently we have a laser sharp focus to deliver it for our customers."
While the company terms EcoSport as a game changer, people involved with the company believe, the B562 is a even bigger deal. "The cars are being developed with an aim of garnering profits quicker than some of the earlier projects. In terms of volumes, the platform will deliver largest volumes for Ford India going ahead and is expected to come with a localisation level of over 90%."
According to V G Ramakrishnan, MD, Frost & Sullivan, South Asia, a big exports push helps Ford in not only getting the pricing right for the domestic market like it did with EcoSport, but it helps the company democratize some of the high end technology at affordable price.
ONGC, partners to invest Rs 1,100 cr in Cambay block
Mumbai: State-run Oil and Natural Gas Corp (ONGC) and its partners — Tata Petrodyne and Hindustan Oil Exploration Co — will invest Rs 1,100 crore in developing an offshore block in the Gulf of Cambay, off the west coast of India.
The area is an extension of the onshore Cambay basin in Gujarat where major oil and gas fields like Gandhar are located.
“The operating committee (of the block) met last week and agreed for the development plan. We are now awaiting a meeting of the managing committee. Once an approval is obtained, we will flag off work on the block,” said a senior official from Tata Petrodyne.
The official, who did not want to be named, added the partners would bring in Rs 1,100 crore in proportion to their participating interest in the the the CB-OS/1 block.
ONGC, with a 55.26 per cent stake, is the operator of the block. It bought the stake from BG Exploration and Production (India) Ltd in January 2005. While Tata Petrodyne holds a participating interest of 6.70 per cent, Hindustan Oil holds 38.04 per cent.
According to Tata Petrodyne's website, the minimum work obligation of drilling seven wells in the phase I of block exploration was completed in 2002. The consortium decided not to proceed to the phase II of exploration and retained only three discovery areas — A, D and Harinagar structures.
Feasibility studies conducted to develop the ‘A’ and ‘D’ structures indicated developing the ‘A’ structure was commercially viable, while the ‘D’ structure was not so viable. Accordingly, the operating committee of the block approved the commerciality of the Gulf ‘A’ discovery with initial oil reserves of 48 million barrels, of which 11 million barrels are recoverable as of now.
Production from this block is expected to commence in 2015. "The operating committee of the block CB-OS/1 has approved on July 17, 2013, the revised plan of development submitted by the operator, entailing offshore development scheme for Gulf A discovery,” said Hindustan Oil in its June quarter report. ONGC is also pursuing with the government of India for approval of commercial discovery report for Harinagar area, it added.
Hindustan Oil posted a net loss at Rs 18.3 crore in the first quarter against a profit of Rs 1.48 crore a year ago. It had posted a loss of Rs 28.33 crore in the previous quarter.
The area is an extension of the onshore Cambay basin in Gujarat where major oil and gas fields like Gandhar are located.
“The operating committee (of the block) met last week and agreed for the development plan. We are now awaiting a meeting of the managing committee. Once an approval is obtained, we will flag off work on the block,” said a senior official from Tata Petrodyne.
The official, who did not want to be named, added the partners would bring in Rs 1,100 crore in proportion to their participating interest in the the the CB-OS/1 block.
ONGC, with a 55.26 per cent stake, is the operator of the block. It bought the stake from BG Exploration and Production (India) Ltd in January 2005. While Tata Petrodyne holds a participating interest of 6.70 per cent, Hindustan Oil holds 38.04 per cent.
According to Tata Petrodyne's website, the minimum work obligation of drilling seven wells in the phase I of block exploration was completed in 2002. The consortium decided not to proceed to the phase II of exploration and retained only three discovery areas — A, D and Harinagar structures.
Feasibility studies conducted to develop the ‘A’ and ‘D’ structures indicated developing the ‘A’ structure was commercially viable, while the ‘D’ structure was not so viable. Accordingly, the operating committee of the block approved the commerciality of the Gulf ‘A’ discovery with initial oil reserves of 48 million barrels, of which 11 million barrels are recoverable as of now.
Production from this block is expected to commence in 2015. "The operating committee of the block CB-OS/1 has approved on July 17, 2013, the revised plan of development submitted by the operator, entailing offshore development scheme for Gulf A discovery,” said Hindustan Oil in its June quarter report. ONGC is also pursuing with the government of India for approval of commercial discovery report for Harinagar area, it added.
Hindustan Oil posted a net loss at Rs 18.3 crore in the first quarter against a profit of Rs 1.48 crore a year ago. It had posted a loss of Rs 28.33 crore in the previous quarter.
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