Mumbai: Reliance Power will commission the second unit of its sasan ultra mega power project ( UMPP) in December after it successfully lit-up the boiler for the unit, the Anil Dhirubhai Ambani Groups said Friday.
The company had bagged three of the four UMPPs of 4,000 mw each awarded by the government but Sasan is the only one where work has progressed. In March 2013, the first unit of 660 mw at Sasan was commissioned.
The company has already started production of coal from the coal mines attached to the Sasan project.
Reliance Power has an operational capacity of 2,545 mw. At the time of its initial public offer in 2008, R-Power had planned to set up power plants with a combined capacity of 28,200 mw across India, fuelled by coal or gas as well as hydropower. Since then, the company has added a few new projects but also abandoned some. It later revised its capacity addition target to 25,000 mw by 2015, but it now expects to add 20,000 mw by 2020, given the slowdown in the industry.
Success in my Habit
Monday, November 18, 2013
GE to make India a manufacturing hub for its global markets
Hyderabad: US-based diversified conglomerate General Electric Co says the huge talent pool and lower manufacturing costs in India will drive the company’s plan to make the country a manufacturing hub for its global markets.
Banmali Agrawala, President and CEO, GE South Asia, said its coming plant at Chakan, Pune, is the first major step towards this direction.
"The Chakan plant is expected to be operational by the middle of next year. We will use the facility to manufacture a range of products for our global markets," he told reporters here on Friday.
The Rs 1,000-crore plant will produce diversified equipment for the aviation, energy, oil and gas and transportation sectors.
The $150-billion revenue multinational, which has interests in capital goods, technology and financial services, is now present in 164 countries, earning more than $1 billion revenue each from at least 40 countries and more than $100 million from 60 countries. Agrawala said GE will also start exporting healthcare devices from its Bangalore plant as part of the strategy to make India a manufacturing hub.
The Bangalore plant will make an array of “super-value products”, including ultrasound machines, ECG units, maternal and infant care equipment, which will be exported to Africa, Europe, Latin America and Asia.
He is of the view that India can become a global manufacturing hub, provided the government takes certain policies and cuts regulation.
“We have enough talents here. The government should not see India as a manufacturing hub for India alone, but for the world.
“It should accordingly change its policies and not have excessive regulation. It should play the role of a facilitator.” amitmitra@thehindu.co.in
Banmali Agrawala, President and CEO, GE South Asia, said its coming plant at Chakan, Pune, is the first major step towards this direction.
"The Chakan plant is expected to be operational by the middle of next year. We will use the facility to manufacture a range of products for our global markets," he told reporters here on Friday.
The Rs 1,000-crore plant will produce diversified equipment for the aviation, energy, oil and gas and transportation sectors.
The $150-billion revenue multinational, which has interests in capital goods, technology and financial services, is now present in 164 countries, earning more than $1 billion revenue each from at least 40 countries and more than $100 million from 60 countries. Agrawala said GE will also start exporting healthcare devices from its Bangalore plant as part of the strategy to make India a manufacturing hub.
The Bangalore plant will make an array of “super-value products”, including ultrasound machines, ECG units, maternal and infant care equipment, which will be exported to Africa, Europe, Latin America and Asia.
He is of the view that India can become a global manufacturing hub, provided the government takes certain policies and cuts regulation.
“We have enough talents here. The government should not see India as a manufacturing hub for India alone, but for the world.
“It should accordingly change its policies and not have excessive regulation. It should play the role of a facilitator.” amitmitra@thehindu.co.in
TechM wins deal from Australian firm
Mumbai: Tech Mahindra Ltd has secured an outsourcing deal from Australian financial services firm Perpetual to provide registry services.
As part of the contract, the Mahindra group company will provide technology support for several superannuation and pension products of Perpetual.
“We are looking to see a complete refresh of registry IT infrastructure and applications which will allow us to focus on our core strengths,” Paul Statham, acting Group Executive of Perpetual Investments, said in a press statement. The agreement covers both administration and technology services.
Though the size of the engagement was not disclosed, it is believed to be a multi-million dollar deal. News reports in the Australian media indicate that Perpetual will make 50 roles redundant and transfer a number of positions to the Indian software services company. The Sydney headquartered Perpetual is an investment and trustee group that specialises in investment products, financial advice and corporate service.
The Tech Mahindra scrip hit its 52-week high on BSE before settling at Rs 1,674.05, higher by 5.94 per cent than previous close.
As part of the contract, the Mahindra group company will provide technology support for several superannuation and pension products of Perpetual.
“We are looking to see a complete refresh of registry IT infrastructure and applications which will allow us to focus on our core strengths,” Paul Statham, acting Group Executive of Perpetual Investments, said in a press statement. The agreement covers both administration and technology services.
Though the size of the engagement was not disclosed, it is believed to be a multi-million dollar deal. News reports in the Australian media indicate that Perpetual will make 50 roles redundant and transfer a number of positions to the Indian software services company. The Sydney headquartered Perpetual is an investment and trustee group that specialises in investment products, financial advice and corporate service.
The Tech Mahindra scrip hit its 52-week high on BSE before settling at Rs 1,674.05, higher by 5.94 per cent than previous close.
India and Japan to strengthen their cooperation in the maritime sector
New Delhi: India and Japan have decided to further strengthen their cooperation in the maritime sector as a part of the overall robust bilateral relations. The two countries agreed to enhance their interaction through the existing forums and through port-to-port exchanges.
These issues came up for a discussion between the Union Minister of Shipping Shri G.K. Vasan, who is on an official visit to Japan and his Japanese counterpart Shri Akihiro Ohta, Minister of land, Industries and Transport & Tourism, Government of Japan.
Shri Vasan explained the developments that were taking place in India in the Ports sector and assured Shri Ohta that concerns regarding infrastructure and connectivity of ports are being addressed expeditiously. In particular, he said that the ports in Ennore and Chennai are catering to the Japanese car exporters like Toyota and Nissan who have so far exported about 42000 and 300000 cars respectively from these ports.
During the talks, Shri Vasan thanked the Japanese government for its support to various Indian Ports and infrastructure projects through the Japan International Cooperation Agency (JICA). He also mentioned the possibility of JICA assistance to VOC Port at Thoothukudi for the upcoming Outer Harbour Project.
Japanese Minister Shri Ohta, while acknowledging the existing cordial relationship between India and Japan, assured that Japan will carry forward the momentum. He also thanked Shri Vasan for his efforts in this direction and expressed Japan’s interest in shipbuilding and recycling industries in India.
Shri Vasan later visited the Yokohama port where he was received by Shri Nobuya Suzuki, Deputy Mayor of Yokohama city and Shri Masaharu Ikegami, the Vice Director General of the Ministry of Land, Industries and Transport & Tourism, (MLIT) Government of Japan.
These issues came up for a discussion between the Union Minister of Shipping Shri G.K. Vasan, who is on an official visit to Japan and his Japanese counterpart Shri Akihiro Ohta, Minister of land, Industries and Transport & Tourism, Government of Japan.
Shri Vasan explained the developments that were taking place in India in the Ports sector and assured Shri Ohta that concerns regarding infrastructure and connectivity of ports are being addressed expeditiously. In particular, he said that the ports in Ennore and Chennai are catering to the Japanese car exporters like Toyota and Nissan who have so far exported about 42000 and 300000 cars respectively from these ports.
During the talks, Shri Vasan thanked the Japanese government for its support to various Indian Ports and infrastructure projects through the Japan International Cooperation Agency (JICA). He also mentioned the possibility of JICA assistance to VOC Port at Thoothukudi for the upcoming Outer Harbour Project.
Japanese Minister Shri Ohta, while acknowledging the existing cordial relationship between India and Japan, assured that Japan will carry forward the momentum. He also thanked Shri Vasan for his efforts in this direction and expressed Japan’s interest in shipbuilding and recycling industries in India.
Shri Vasan later visited the Yokohama port where he was received by Shri Nobuya Suzuki, Deputy Mayor of Yokohama city and Shri Masaharu Ikegami, the Vice Director General of the Ministry of Land, Industries and Transport & Tourism, (MLIT) Government of Japan.
Monday, November 11, 2013
HDFC Bank launches rural financial literacy initiative in Kerala
New Delhi: HDFC Bank Ltd has launched its rural financial literacy initiative in the village of Palakkad Marutha Road, in Kerala, under the aegis of the Reserve Bank of India (RBI).
HDFC Bank will conduct financial literacy camps in 39 rural and semi-urban branches across Kerala. As per instructions from the RBI, these branches will serve the Malampuzha block in Palakkad district and the Mathilakam block in Trichur district of Kerala. The camps will enable both adults and school children from 234 Panchayath wards in 26 villages to attain a conceptual understanding of financial products and services.
This initiative is in line with the RBI's recent circular which recommended that banks should scale up financial literacy efforts in rural areas through their branch networks.
HDFC Bank will use the Financial Literacy Guide, provided by the RBI as the standard curriculum while conducting these camps. This material is currently available in Hindi and English.
HDFC Bank has gone a step further in Kerala and is the first bank to translate the guide into Malayalam, which is the local language. This has been done in consultation with the RBI and will greatly increase the impact and efficacy of these camps in Kerala will allow the participants to understand the material in the language they are most comfortable with.
HDFC Bank will conduct financial literacy camps in 39 rural and semi-urban branches across Kerala. As per instructions from the RBI, these branches will serve the Malampuzha block in Palakkad district and the Mathilakam block in Trichur district of Kerala. The camps will enable both adults and school children from 234 Panchayath wards in 26 villages to attain a conceptual understanding of financial products and services.
This initiative is in line with the RBI's recent circular which recommended that banks should scale up financial literacy efforts in rural areas through their branch networks.
HDFC Bank will use the Financial Literacy Guide, provided by the RBI as the standard curriculum while conducting these camps. This material is currently available in Hindi and English.
HDFC Bank has gone a step further in Kerala and is the first bank to translate the guide into Malayalam, which is the local language. This has been done in consultation with the RBI and will greatly increase the impact and efficacy of these camps in Kerala will allow the participants to understand the material in the language they are most comfortable with.
Airtel launches 3G services in Bangladesh
Mumbai: Airtel Bangladesh, a unit of Bharti Airtel, has launched 3G services in Bangladesh’s Dhaka and Chittagong cities.
“We are excited to offer innovative products and affordable prices for our 3G services with highest speed, innovative contents for all segments, which will mark a major milestone for Airtel in Bangladesh. As the country ushers in an era of high speed mobile telephony, it will be Airtel’s endeavour to be at the forefront of this growth story,” Airtel Bangladesh Managing Director and Chief Executive Officer, Chris Tobit, said.
“We will continue with our philosophy of bringing unique and world-class services, which will provide value for money for our customers backed by the latest technology. With this offer, I believe Airtel will capture a unique position among its customers in terms of communication in the form of entertainment, infotainment, edutainment, m-health, m-commerce etc.”
Airtel 3G data packs are available for Bangladeshi taka (BDT) 15 for 15 MB. Video calls between Airtel to Airtel customers will be levied at BDT 1 per minute.
“We are excited to offer innovative products and affordable prices for our 3G services with highest speed, innovative contents for all segments, which will mark a major milestone for Airtel in Bangladesh. As the country ushers in an era of high speed mobile telephony, it will be Airtel’s endeavour to be at the forefront of this growth story,” Airtel Bangladesh Managing Director and Chief Executive Officer, Chris Tobit, said.
“We will continue with our philosophy of bringing unique and world-class services, which will provide value for money for our customers backed by the latest technology. With this offer, I believe Airtel will capture a unique position among its customers in terms of communication in the form of entertainment, infotainment, edutainment, m-health, m-commerce etc.”
Airtel 3G data packs are available for Bangladeshi taka (BDT) 15 for 15 MB. Video calls between Airtel to Airtel customers will be levied at BDT 1 per minute.
Chocolatier Mars brings Galaxy to India
New Delhi: Mars International India, which imports and markets its chocolate brands in India, is scouting for locations to start manufacturing here.
The company, which so far has been focussing on growing its Snickers brand, launched its tablet chocolate brand Galaxy in India on Thursday.
Asked about plans to start manufacturing its chocolates in India, M.V. Natarajan, General Manager, Chocolate business, Mars International India, said the company was evaluating suitable locations and could start manufacturing in the next 2-3 years.
“We are looking at India as a long-term opportunity. We will continue to evaluate opportunities for manufacturing. Local supply will be a critical focus,” he added.
The company expects Galaxy to fuel its future growth in India. Raghav Rekhi, Marketing Director, Mars International India, said India was one of the few markets where tablet chocolates constituted nearly 50 per cent of the estimated Rs 5,000-crore chocolate market, which is growing at 20 per cent compounded annual growth rate.
“Galaxy is one of our biggest brands globally. It is not just about transporting a global product into India. We have focused on tailoring the product for the Indian market, making the brand accessible at the right price point, bringing in innovation on packaging based on Indian consumer’s insights and supporting it by the right communication plan and distribution which ensures that the quality of the product is maintained,” he added.
The company has roped in actor Arjun Rampal and television actor Sapna Pabbi to endorse the brand.
Galaxy chocolate is currently available at Rs 15 and Rs 40.
Natarajan said the company would continue to evaluate opportunities for other price points and sizes. The brand will be available across the key urban regions in the next 4-6 months.
The company has been looking at various strategies to grow its market share in India. Earlier this year, it launched vegetarian Snickers, keeping the Indian consumer in mind.
The company, which so far has been focussing on growing its Snickers brand, launched its tablet chocolate brand Galaxy in India on Thursday.
Asked about plans to start manufacturing its chocolates in India, M.V. Natarajan, General Manager, Chocolate business, Mars International India, said the company was evaluating suitable locations and could start manufacturing in the next 2-3 years.
“We are looking at India as a long-term opportunity. We will continue to evaluate opportunities for manufacturing. Local supply will be a critical focus,” he added.
The company expects Galaxy to fuel its future growth in India. Raghav Rekhi, Marketing Director, Mars International India, said India was one of the few markets where tablet chocolates constituted nearly 50 per cent of the estimated Rs 5,000-crore chocolate market, which is growing at 20 per cent compounded annual growth rate.
“Galaxy is one of our biggest brands globally. It is not just about transporting a global product into India. We have focused on tailoring the product for the Indian market, making the brand accessible at the right price point, bringing in innovation on packaging based on Indian consumer’s insights and supporting it by the right communication plan and distribution which ensures that the quality of the product is maintained,” he added.
The company has roped in actor Arjun Rampal and television actor Sapna Pabbi to endorse the brand.
Galaxy chocolate is currently available at Rs 15 and Rs 40.
Natarajan said the company would continue to evaluate opportunities for other price points and sizes. The brand will be available across the key urban regions in the next 4-6 months.
The company has been looking at various strategies to grow its market share in India. Earlier this year, it launched vegetarian Snickers, keeping the Indian consumer in mind.
CRI Pumps opens unit in China
Coimbatore: Pump manufacturing major CRI Pumps has opened its subsidiary – CRI Pumps Shanghai Co Ltd — in China. This is the pump major's sixth foreign subsidiary company. It has one subsidiary company each in Brazil, South Africa, the UAE, Spain and Turkey.
The Chinese subsidiary is expected to become fully operational in about a month’s time.
G. Soundararajan, Vice-Chairman, said the investment in the China facility would be around $6 million.
CRI China would focus on industrial, mining, process industries, pressure boosting systems, building services segment and projects in the first phase, he said.
“We acquired the industrial pumps business of UK-based Pumps & Process Systems about a year ago. We will be leveraging this acquisition for entering the China market,” he told Business Line.
On the company's foray into China, he said: “Mcilvaine survey has estimated the pump market in China at $8.4 billion by 2015. Around 13.5 million units of various types of pumps are sold there in a year. The market there is undergoing a major transition and we intend to leverage our strength and capitalise on the developments”.
On the company's performance, he said: “Our turnover last year was Rs 1,025 crore, of which Rs 170 crore was from our international business. Exports are growing at 35-40 per cent now. We are targeting to achieve a turnover of Rs 1,300 crore this fiscal, including Rs 230 crore from our international operations.”
The Chinese subsidiary is expected to become fully operational in about a month’s time.
G. Soundararajan, Vice-Chairman, said the investment in the China facility would be around $6 million.
CRI China would focus on industrial, mining, process industries, pressure boosting systems, building services segment and projects in the first phase, he said.
“We acquired the industrial pumps business of UK-based Pumps & Process Systems about a year ago. We will be leveraging this acquisition for entering the China market,” he told Business Line.
On the company's foray into China, he said: “Mcilvaine survey has estimated the pump market in China at $8.4 billion by 2015. Around 13.5 million units of various types of pumps are sold there in a year. The market there is undergoing a major transition and we intend to leverage our strength and capitalise on the developments”.
On the company's performance, he said: “Our turnover last year was Rs 1,025 crore, of which Rs 170 crore was from our international business. Exports are growing at 35-40 per cent now. We are targeting to achieve a turnover of Rs 1,300 crore this fiscal, including Rs 230 crore from our international operations.”
Rs 100-cr science city project for Hyderabad
Hyderabad: The Andhra Pradesh State Council of Science and Technology, an autonomous body under the State government, has submitted a proposal to set up a Rs 100-crore science city on the outskirts of Hyderabad.
While the State government is to share Rs 40 crore, the Centre is likely to bear the rest of the cost. “The Centre is considering the proposal and we hope to get the approval soon. We already have a 20-acre plot for the project,” Y. Nagesh Kumar, Member Secretary, told media persons on the sidelines of a CII meeting with Innovation Norway delegation here today.
The council was floated by the State government in 1986 to formulate measures to foster the spirit of science at all levels of society, especially among students, teachers and academicians, apart from transferring new technologies from the laboratories to the field.
The proposed Science City would house interactive exhibits on various topics of science, ranging from astronomy to biology, a planetarium and galleries.
It has also planned a Centre for Creativity within the science city, which will be a facilitator for innovators, including research scholars and teachers. “This centre would cost about $ 50 million. We are in talks with Innovation Norway to participate in the setting up of the centre,” Kumar said.
The council is setting up the second Regional Science Centre at Warangal, after the one in Vijayawada. “The Warangal facility being set up at a cost of Rs 5 crore is expected to be ready next month. It will house science exhibits that will explain science in pictorial forms to the youth,” he said, adding that there were proposals to set up a sub-regional science centre at Rajahmundry at a cost of Rs 5 crore.
Earlier, a delegation from Innovation Norway, which funds and facilitates research in innovative technologies, interacted with industrialists, scienctists and entrepreneurs.
Ole Johan Sandvaer, Regional Director, said Innovation Norway was present in 35 countries, including India. “We are increasing focus on India. We will be opening our second Indian office in Mumbai in the first quarter of next year,” he said.
While the State government is to share Rs 40 crore, the Centre is likely to bear the rest of the cost. “The Centre is considering the proposal and we hope to get the approval soon. We already have a 20-acre plot for the project,” Y. Nagesh Kumar, Member Secretary, told media persons on the sidelines of a CII meeting with Innovation Norway delegation here today.
The council was floated by the State government in 1986 to formulate measures to foster the spirit of science at all levels of society, especially among students, teachers and academicians, apart from transferring new technologies from the laboratories to the field.
The proposed Science City would house interactive exhibits on various topics of science, ranging from astronomy to biology, a planetarium and galleries.
It has also planned a Centre for Creativity within the science city, which will be a facilitator for innovators, including research scholars and teachers. “This centre would cost about $ 50 million. We are in talks with Innovation Norway to participate in the setting up of the centre,” Kumar said.
The council is setting up the second Regional Science Centre at Warangal, after the one in Vijayawada. “The Warangal facility being set up at a cost of Rs 5 crore is expected to be ready next month. It will house science exhibits that will explain science in pictorial forms to the youth,” he said, adding that there were proposals to set up a sub-regional science centre at Rajahmundry at a cost of Rs 5 crore.
Earlier, a delegation from Innovation Norway, which funds and facilitates research in innovative technologies, interacted with industrialists, scienctists and entrepreneurs.
Ole Johan Sandvaer, Regional Director, said Innovation Norway was present in 35 countries, including India. “We are increasing focus on India. We will be opening our second Indian office in Mumbai in the first quarter of next year,” he said.
Mumbai top most city in internet penetration
New Delhi: Move over Bangalore, the much touted IT city, it's Mumbai which has the highest penetration of internet users in the country. Mumbai with 12 million internet users has emerged as the top most city, followed by Delhi with 8.1 million internet users and Hyderabad with 4.7 million internet users. Chennai with 4.5 million internet users and Kolkata with 4.4 million internet users are fourth and fifth respectively, according to a statement by Internet & Mobile Association of India (IAMAI).
Bangalore, with 3.8 million users is sixth in internet user penetration. In 2012, Mumbai had 8.3 million internet users, while Delhi had 8.1 million internet users. There were 3.6 million internet users in Hyderabad in 2012, while Chennai had 3.4 million internet users and Kolkata had 3 million internet users.
With 47 per cent y-o-y growth, Kolkata, however, registered the highest growth of internet users among all the top cities in India. Mumbai with 45 per cent y-o-y growth is second while Bangalore with a growth y-o-y of 43 per cent is third. Pune, with a growth of 37 per cent is fourth while Delhi with a y-o-y growth of 35 per cent is fifth.
Ahmedabad, with y-o-y 26 per cent, registered the lowest growth rate among the top eight cities.Overall, the the top 4 metros have a 37 per cent penetration of Active Internet Users.
Among the other 4 Metros, Hyderabad leads the charge with a penetration of 37 per cent Active Internet Users. Coimbatore with a 40 per cent penetration leads in the Small Metros category.
Bangalore, with 3.8 million users is sixth in internet user penetration. In 2012, Mumbai had 8.3 million internet users, while Delhi had 8.1 million internet users. There were 3.6 million internet users in Hyderabad in 2012, while Chennai had 3.4 million internet users and Kolkata had 3 million internet users.
With 47 per cent y-o-y growth, Kolkata, however, registered the highest growth of internet users among all the top cities in India. Mumbai with 45 per cent y-o-y growth is second while Bangalore with a growth y-o-y of 43 per cent is third. Pune, with a growth of 37 per cent is fourth while Delhi with a y-o-y growth of 35 per cent is fifth.
Ahmedabad, with y-o-y 26 per cent, registered the lowest growth rate among the top eight cities.Overall, the the top 4 metros have a 37 per cent penetration of Active Internet Users.
Among the other 4 Metros, Hyderabad leads the charge with a penetration of 37 per cent Active Internet Users. Coimbatore with a 40 per cent penetration leads in the Small Metros category.
Subscribe to:
Posts (Atom)