Pune: SPP Pumps, a subsidiary of Kirloskar Brothers Ltd (KBL), has inaugurated its most advanced facility at Atlanta, USA. This is KBL’s seventh manufacturing facility worldwide.
With an investment of $6 million, the new plant has an installed capacity of 2,500 units annually. The latest engineering, testing and training facility in Atlanta will manufacture and assemble end suction, horizontal split case, multi-stage and vertical turbine pumps.
The new vertical turbine test facility will enhance its capability to expand in the power sector and increase the dominance in the fire market.
With the opening of the new facility, SPP Pumps’ production capacity will increase by 30 per cent and the turnover is expected to reach $ 40 million in the next three years.
John Kahren, President of SPP Pumps Inc., said: “With this new investment, we are eyeing to expand into new markets and continue our dominance in the fire pump markets. The Atlanta facility will be instrumental in achieving our projected growth for years to come.”
The new plant will strengthen SPP Pumps’ growth in the industries such as municipal, commercial, industrial, HVAC, process, power and fire pump markets.
Success in my Habit
Thursday, August 22, 2013
LandT bags Rs 1,500-cr EPC order from Omani company
Mumbai: L&T has bagged an engineering, procurement and construction (EPC) order worth about Rs 1,500 crore ($250 million) from Petroleum Development Oman (PDO).
The order is for a project at the Yibal-Natih gas reservoir in Oman. It is scheduled for completion in 39 months. The reservoir has been in production since 1972 and has undergone a series of expansions.
“With significant growth potential for the natural gas market in the Gulf, this order is strategic for L&T and reflects its capability to execute such projects in an extremely competitive environment,” L&T said.
L&T is currently executing two projects — the Lekhwair Gas Field Development Project and the Saih Rawl Depletion Compression Project for PDO.
PDO is a leading exploration and production company in the Sultanate and accounts for over 70 per cent of the country’s crude oil production and almost all its natural gas supply.
The Government of Oman has 60 per cent stake and Royal Dutch Shell 34 per cent in the PDO.
The order is for a project at the Yibal-Natih gas reservoir in Oman. It is scheduled for completion in 39 months. The reservoir has been in production since 1972 and has undergone a series of expansions.
“With significant growth potential for the natural gas market in the Gulf, this order is strategic for L&T and reflects its capability to execute such projects in an extremely competitive environment,” L&T said.
L&T is currently executing two projects — the Lekhwair Gas Field Development Project and the Saih Rawl Depletion Compression Project for PDO.
PDO is a leading exploration and production company in the Sultanate and accounts for over 70 per cent of the country’s crude oil production and almost all its natural gas supply.
The Government of Oman has 60 per cent stake and Royal Dutch Shell 34 per cent in the PDO.
L&T bags Rs 1,500-cr EPC order from Omani company
Mumbai: L&T has bagged an engineering, procurement and construction (EPC) order worth about Rs 1,500 crore ($250 million) from Petroleum Development Oman (PDO).
The order is for a project at the Yibal-Natih gas reservoir in Oman. It is scheduled for completion in 39 months. The reservoir has been in production since 1972 and has undergone a series of expansions.
“With significant growth potential for the natural gas market in the Gulf, this order is strategic for L&T and reflects its capability to execute such projects in an extremely competitive environment,” L&T said.
L&T is currently executing two projects — the Lekhwair Gas Field Development Project and the Saih Rawl Depletion Compression Project for PDO.
PDO is a leading exploration and production company in the Sultanate and accounts for over 70 per cent of the country’s crude oil production and almost all its natural gas supply.
The Government of Oman has 60 per cent stake and Royal Dutch Shell 34 per cent in the PDO.
The order is for a project at the Yibal-Natih gas reservoir in Oman. It is scheduled for completion in 39 months. The reservoir has been in production since 1972 and has undergone a series of expansions.
“With significant growth potential for the natural gas market in the Gulf, this order is strategic for L&T and reflects its capability to execute such projects in an extremely competitive environment,” L&T said.
L&T is currently executing two projects — the Lekhwair Gas Field Development Project and the Saih Rawl Depletion Compression Project for PDO.
PDO is a leading exploration and production company in the Sultanate and accounts for over 70 per cent of the country’s crude oil production and almost all its natural gas supply.
The Government of Oman has 60 per cent stake and Royal Dutch Shell 34 per cent in the PDO.
FDI proposals worth US$ 173 million in single brand retail were approved till May 2013
New Delhi: The Government of India approved 18 foreign direct investment (FDI) proposals worth US$ 173 million in the single brand retail sector during April 2010 and May 2013. Out of these, five proposals worth US$ 137.68 million were approved during the first two months of 2013-14.
Fashion brand Promod, France-based crockery maker Le Creuset, accessories firm Fossil Inc and French sports giant Decathlon are some of the firms which have received approvals to open retail stores under the single-brand retail policy.
The Government had raised the FDI cap in single-brand retail to 100 per cent from 51 per cent in January 2012.
The country also attracted FDI worth US$ 256.7 million in agriculture services during April 2010 and May 2013, said Mr Anand Sharma, Union Minister for Commerce and Industry, Government of India.
Fashion brand Promod, France-based crockery maker Le Creuset, accessories firm Fossil Inc and French sports giant Decathlon are some of the firms which have received approvals to open retail stores under the single-brand retail policy.
The Government had raised the FDI cap in single-brand retail to 100 per cent from 51 per cent in January 2012.
The country also attracted FDI worth US$ 256.7 million in agriculture services during April 2010 and May 2013, said Mr Anand Sharma, Union Minister for Commerce and Industry, Government of India.
India-Indonesian trade to touch $ 45 b by 2015
Hyderabad: Bilateral trade between India and Indonesia is set to increase to $45 billion by 2015 from the current level of $16.80 billion, according to Hariyanta Soetarto, Consul and Head of Chancery, Consulate General of Indonesia.
Addressing members of the Federation of Andhra Pradesh Chambers of Commerce and Industry here today, he said implementation of the ASEAN-India Free Trade Agreement was driving trade between the two countries.
He pointed out that the Indonesian Government was implementing a master plan for expansion of the Indonesian economy, focussing on 22 sectors, including shipping, textiles, steel, defence equipment, palm oil, animal husbandry, oil and gas, coal and tourism.
He wanted Indian entrepreneurs to participate in the forthcoming investment event, Jakarta Investment Expo 2013, to be held at Tangerang from October 21-23. The event will feature an investment exhibition and B2B meetings.
India is the largest buyer of crude palm oil from Indonesia. At present, India exports refined petroleum products, wheat, rice, sugar and steel to Indonesia. The country’s imports stood at $11 billion, primarily based on natural resources such as coal, crude palm oil, wood, rubber and furniture. A major player in the global coal market, Indonesia is today the second largest thermal coal exporting country, with a production of over 274 million tonnes.
Addressing members of the Federation of Andhra Pradesh Chambers of Commerce and Industry here today, he said implementation of the ASEAN-India Free Trade Agreement was driving trade between the two countries.
He pointed out that the Indonesian Government was implementing a master plan for expansion of the Indonesian economy, focussing on 22 sectors, including shipping, textiles, steel, defence equipment, palm oil, animal husbandry, oil and gas, coal and tourism.
He wanted Indian entrepreneurs to participate in the forthcoming investment event, Jakarta Investment Expo 2013, to be held at Tangerang from October 21-23. The event will feature an investment exhibition and B2B meetings.
India is the largest buyer of crude palm oil from Indonesia. At present, India exports refined petroleum products, wheat, rice, sugar and steel to Indonesia. The country’s imports stood at $11 billion, primarily based on natural resources such as coal, crude palm oil, wood, rubber and furniture. A major player in the global coal market, Indonesia is today the second largest thermal coal exporting country, with a production of over 274 million tonnes.
Tuesday, August 20, 2013
Zydus to invest Rs 100 crore in Vadodara unit, expand hospital business
Ahmedabad: Zydus Cadila will set up an injectible facility at Vadodara at an investment of Rs 100 crore by 2015, a senior company official said, adding that land has been acquired. The Ahmedabad-based company also plans to expand its hospital business across Gujarat in the next three years.
"We are coming up with a USFDA-approved injectible facility at Vadodara to cater to the high-value US market. Regulated markets like Brazil and Europe would be the next focus," chief operating officer Ganesh Nayak of the Rs 6,300-crore company said on the sidelines of Nirma University's marketing conclave, Ayatana-2013.
The new facility would be commenced by 2015 and it is meant only for therapeutic segments other than oncology. Zydus Cadila already has a joint venture with US-based Hospira for manufacturing anti-oncology injectibles at Matoda SEZ plant, near Ahmedabad, where the company has another joint venture with Bharat Serum and Vaccine.
Zydus Hospitals & Healthcare Research recently started its first hospital operations at Anand, better known as Amul's hometown. "We would add four hospitals in the next three years at Surat, Vadodara, Ahmedabad and Rajkot," says Mr Nayak. The second hospital would come up at Ahmedabad and have a helipad on the rooftop for air-ambulance services. However, Mr Nayak declined to disclose the quantum of investment for the hospitals' expansion.
Apart from the two new projects, Zydus is also looking at co-marketing or in-licensing of patented drugs for domestic markets. "A drug company has three ways to sustain its growth trajectory - own patent products, off patent (generic products) and the third way is through co-marketing or in-licensing."
Elaborating on co-marketing or in-licensing strategy, Mr Nayak says that the company has three co-marketing patented products-pantoprazole ( Nycomed Pharma, now acquired by Takeda Pharma), xarelto (Bayer Healthcare) and nexavar (Bayer Healthcare). Zydus has joint venture units with the patent holder companies and produces locally. "We are further seeking new co-marketing or in-licensing of patented products for our future growth," added Mr Nayak.
The company is also pining hopes on its indigenously developed dual-action diabetic drug-lipalyn-that can lower both blood sugar and cholesterol levels. Usually, a diabetic patient runs the risk of dyslipidemia (abnormal lipid/cholesterol accumulation). According to Mr Nayak, lipalyn drug addresses the problem of dyslipidemia in diabetic patients.
"We are coming up with a USFDA-approved injectible facility at Vadodara to cater to the high-value US market. Regulated markets like Brazil and Europe would be the next focus," chief operating officer Ganesh Nayak of the Rs 6,300-crore company said on the sidelines of Nirma University's marketing conclave, Ayatana-2013.
The new facility would be commenced by 2015 and it is meant only for therapeutic segments other than oncology. Zydus Cadila already has a joint venture with US-based Hospira for manufacturing anti-oncology injectibles at Matoda SEZ plant, near Ahmedabad, where the company has another joint venture with Bharat Serum and Vaccine.
Zydus Hospitals & Healthcare Research recently started its first hospital operations at Anand, better known as Amul's hometown. "We would add four hospitals in the next three years at Surat, Vadodara, Ahmedabad and Rajkot," says Mr Nayak. The second hospital would come up at Ahmedabad and have a helipad on the rooftop for air-ambulance services. However, Mr Nayak declined to disclose the quantum of investment for the hospitals' expansion.
Apart from the two new projects, Zydus is also looking at co-marketing or in-licensing of patented drugs for domestic markets. "A drug company has three ways to sustain its growth trajectory - own patent products, off patent (generic products) and the third way is through co-marketing or in-licensing."
Elaborating on co-marketing or in-licensing strategy, Mr Nayak says that the company has three co-marketing patented products-pantoprazole ( Nycomed Pharma, now acquired by Takeda Pharma), xarelto (Bayer Healthcare) and nexavar (Bayer Healthcare). Zydus has joint venture units with the patent holder companies and produces locally. "We are further seeking new co-marketing or in-licensing of patented products for our future growth," added Mr Nayak.
The company is also pining hopes on its indigenously developed dual-action diabetic drug-lipalyn-that can lower both blood sugar and cholesterol levels. Usually, a diabetic patient runs the risk of dyslipidemia (abnormal lipid/cholesterol accumulation). According to Mr Nayak, lipalyn drug addresses the problem of dyslipidemia in diabetic patients.
Private equity flows into water sector
Mumbai: Private equity funds are eyeing investments in the country’s water sector. Singapore-based CLSA Capital Partners invested $9.2 million (Rs 55 crore) in Gurgaon-based Luminous Water Technologies in end-July, through its two funds.
Last year, the alternative asset management firm had invested $15 million in Delhi-based Earth Water Group, which is into water and wastewater treatment projects.
Similarly, Capvent AG, a Switzerland-based private equity (PE) fund, picked up 51 per cent stake for Rs 12 crore in Morf India Ltd, a Chennai-based water engineering company.
Earlier this month, Organica Water, which is into treatment and recycling of wastewater, completed a Series B round of financing. Led by the International Finance Corporation and WLR China Energy Infrastructure Fund, existing investors RNK Capital and Gamma Capital Partners also participated in the funding.
The Hungarian firm has offices in New Delhi, and has signed contracts with several Indian water companies for design and equipment supply of water treatment plants.
Currently pegged at Rs 3,500 crore, analysts estimate by 2015, private equity investment in the water sector is set to touch Rs 7,500 crore.
A report by TechSci Research has noted that India’s water purifiers market is expected to grow at a compounded annual growth rate of 24 per cent between 2013-18. Approximately 70 per cent of the country’s water purifier market is dominated by organised players such as Eureka Forbes, Hindustan Unilever, Tata Chemicals and Kent.
With the level of water contamination considerably higher in Rajasthan, Andhra Pradesh, and Odisha, the report said the demand for water purifiers was bound to increase there.
Kent, the largest water purifier manufacturer in the Reverse Osmosis (RO) segment, is not looking at raising funds through the PE route, for now. However, Managing Director Mahesh Gupta said that of late, there has been a lot of activity in the water space, with many new players entering the segment.
Hot property
“We have been approached by several players (for a stake), but we are not looking at it right now. But I am not totally against the idea too,” Gupta told Business Line, adding that some 30-40 companies in Ahmedabad and Delhi dealing in water, were indeed looking for funds.
Gupta said PEs would not provide any technical expertise to these companies, but help them expand faster.
An IDFC official told Business Line that foreign PE consider India’s water sector as “hot property” and many Indian water and wastewater companies have raised funds to fuel their expansion activities.
Last year, the alternative asset management firm had invested $15 million in Delhi-based Earth Water Group, which is into water and wastewater treatment projects.
Similarly, Capvent AG, a Switzerland-based private equity (PE) fund, picked up 51 per cent stake for Rs 12 crore in Morf India Ltd, a Chennai-based water engineering company.
Earlier this month, Organica Water, which is into treatment and recycling of wastewater, completed a Series B round of financing. Led by the International Finance Corporation and WLR China Energy Infrastructure Fund, existing investors RNK Capital and Gamma Capital Partners also participated in the funding.
The Hungarian firm has offices in New Delhi, and has signed contracts with several Indian water companies for design and equipment supply of water treatment plants.
Currently pegged at Rs 3,500 crore, analysts estimate by 2015, private equity investment in the water sector is set to touch Rs 7,500 crore.
A report by TechSci Research has noted that India’s water purifiers market is expected to grow at a compounded annual growth rate of 24 per cent between 2013-18. Approximately 70 per cent of the country’s water purifier market is dominated by organised players such as Eureka Forbes, Hindustan Unilever, Tata Chemicals and Kent.
With the level of water contamination considerably higher in Rajasthan, Andhra Pradesh, and Odisha, the report said the demand for water purifiers was bound to increase there.
Kent, the largest water purifier manufacturer in the Reverse Osmosis (RO) segment, is not looking at raising funds through the PE route, for now. However, Managing Director Mahesh Gupta said that of late, there has been a lot of activity in the water space, with many new players entering the segment.
Hot property
“We have been approached by several players (for a stake), but we are not looking at it right now. But I am not totally against the idea too,” Gupta told Business Line, adding that some 30-40 companies in Ahmedabad and Delhi dealing in water, were indeed looking for funds.
Gupta said PEs would not provide any technical expertise to these companies, but help them expand faster.
An IDFC official told Business Line that foreign PE consider India’s water sector as “hot property” and many Indian water and wastewater companies have raised funds to fuel their expansion activities.
AP preferred for UK investments
Hyderabad: For UK companies Andhra Pradesh continues to be one of the preferred states in India for investments.
An action plan for exchange of delegations in the select sectors would soon be worked out in consultation with the UK Trade and Investment Office in Hyderabad so that British companies can find appropriate partners and locations in Andhra Pradesh for investments.
This emerged after a meeting between the Director-General of UK Trade and Investment Department and State industry department officials. Areas of life sciences, aviation, defence and high-tech manufacturing, green technologies, gas and energy, IT hardware and food processing were identified as potential sectors for mutual cooperation. Kumar Iyer, Deputy High Commissioner and Director-General of UK Trade and Investment accompanied by Andrew McAllister, British Deputy High Commissioner in Hyderabad met K. Pradeep Chandra, Principal Secretary, Industries and Commerce Department in the Secretariat today.
Kumar Iyer informed that the British Government has identified Andhra Pradesh as one of the preferred states in India for investments.
In turn, the State officials explained the advantages of Andhra Pradesh as an investment destination with a natural resource base and industrial parks spread all over the State.
An action plan for exchange of delegations in the select sectors would soon be worked out in consultation with the UK Trade and Investment Office in Hyderabad so that British companies can find appropriate partners and locations in Andhra Pradesh for investments.
This emerged after a meeting between the Director-General of UK Trade and Investment Department and State industry department officials. Areas of life sciences, aviation, defence and high-tech manufacturing, green technologies, gas and energy, IT hardware and food processing were identified as potential sectors for mutual cooperation. Kumar Iyer, Deputy High Commissioner and Director-General of UK Trade and Investment accompanied by Andrew McAllister, British Deputy High Commissioner in Hyderabad met K. Pradeep Chandra, Principal Secretary, Industries and Commerce Department in the Secretariat today.
Kumar Iyer informed that the British Government has identified Andhra Pradesh as one of the preferred states in India for investments.
In turn, the State officials explained the advantages of Andhra Pradesh as an investment destination with a natural resource base and industrial parks spread all over the State.
Commodity-wise freight revenue by railways goes up by 7.90 per cent during April-July 2013
New Delhi: The Railways have generated Rs. 29690.16 crore of revenue earnings from commodity-wise freight traffic during 1st April to 31st July 2013 as compared to Rs. 27515.90 crore during the corresponding period last year, registering an increase of 7.90 per cent. Railways carried 343.00 million tonnes of commodity-wise freight traffic during April-July 2013 as compared to 327.02 million tonnes carried during the corresponding period last year, registering an increase of 4.89 per cent.
Out of the total earnings of Rs. 6894.61 crore from commodity-wise freight traffic during the month of July 2013, Rs. 3023.64 crore came from transportation of 42.36 million tonnes of coal, followed by Rs. 625.98 crore from 9.97 million tonnes of iron ore for exports, steel plants and for other domestic user, Rs. 564.47 crore from 7.98 million tonnes of cement, Rs. 539.66 crore from 4.34 million tonnes of foodgrains, Rs. 447.44 crore from 3.81 million tonnes of petroleum oil and lubricant (POL), Rs. 413.24 crore from 3.09 million tonnes of Pig iron and finished steel from steel plants and other points, Rs. 369.53 crore from 4.09 million tonnes of fertilizers, Rs. 112.12 crore from 1.38 million tonnes of raw material for steel plants except iron ore, Rs. 373.29 crore from 3.66 million tonnes by container service and Rs. 425.24 crore from 5.53 million tonnes of other goods.
Out of the total earnings of Rs. 6894.61 crore from commodity-wise freight traffic during the month of July 2013, Rs. 3023.64 crore came from transportation of 42.36 million tonnes of coal, followed by Rs. 625.98 crore from 9.97 million tonnes of iron ore for exports, steel plants and for other domestic user, Rs. 564.47 crore from 7.98 million tonnes of cement, Rs. 539.66 crore from 4.34 million tonnes of foodgrains, Rs. 447.44 crore from 3.81 million tonnes of petroleum oil and lubricant (POL), Rs. 413.24 crore from 3.09 million tonnes of Pig iron and finished steel from steel plants and other points, Rs. 369.53 crore from 4.09 million tonnes of fertilizers, Rs. 112.12 crore from 1.38 million tonnes of raw material for steel plants except iron ore, Rs. 373.29 crore from 3.66 million tonnes by container service and Rs. 425.24 crore from 5.53 million tonnes of other goods.
NMIMS varsity teams up with UK’s Warwick
Mumbai: SVKM’S Narsee Monjee Institute of Management Studies has set up a centre for manufacturing excellence in collaboration with UK's Warwick University. The programmes are being designed and will be started shortly. The faculty of NMIMS University’s School of Business Management and Mukesh Patel School of Technology Management and Engineering are to work along with the faculty of the Warwick University, UK, to deliver the programmes and carry out research and consultancy.
In a statement, Rajan Saxena, Vice-Chancellor, NMIMS University, said: “India can strengthen its competitive position in the world economy only when all three engines of its economy - namely manufacturing, agriculture and services, are boosted and they work in tandem.''
The centre will offer specially designed Master’s and Doctoral programmes. It will also have partnerships with leading manufacturing corporate, to educate and train engineers, managers and leaders in manufacturing, as well as to carry out research in manufacturing excellence and to develop leadership in the sector.
In a statement, Rajan Saxena, Vice-Chancellor, NMIMS University, said: “India can strengthen its competitive position in the world economy only when all three engines of its economy - namely manufacturing, agriculture and services, are boosted and they work in tandem.''
The centre will offer specially designed Master’s and Doctoral programmes. It will also have partnerships with leading manufacturing corporate, to educate and train engineers, managers and leaders in manufacturing, as well as to carry out research in manufacturing excellence and to develop leadership in the sector.
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