New Delhi: The Indian Angel Network, the country's oldest and largest angel investor network, will now scout for investment opportunities in the United Kingdom and Singapore. The decision to invest in UK and Singapore-based early-stage ventures has been taken to provide companies in its portfolio access to global markets, tap into the Indian diaspora as well as to rope in international investors to participate in domestic startups, according to IAN co-founder Saurabh Srivastava. "A fifth of our members are based outside the country and they have identified great opportunities in these markets," said Srivastava. IAN has previously invested across geographies, including Sri Lanka, Canada, France and Hong Kong. It has invested over $2.5 million (Rs 15.6 crore) in 10 startups in the island nation, along with Google India managing director Rajan Anandan's early-stage fund Blue Ocean Ventures. "The idea is to unlock as much early-stage capital as possible, because of its paucity," said tech evangelist and IAN member Sharad Sharma. IAN, which expects to have its British operations up and running within the next three months, has been working with various government institutions such as UK Trade and Investments and UK-based angel networks, as it looks to establish its presence there.
"We have started the investment process, and if things fall in place, we should announce our first deal within the next six months," he said.
IAN will formally start its operations in Singapore in the latter half of 2014. In February, it had invested an undisclosed sum in Singapore and Seattle-based search portal startup Mobilewalla, a round that was led by its members Sharad Sharma and Venkat Raju. "We want to do this by design, rather than as one-off investments, which has happened earlier," Srivastava said. The angel investor network, which typically invests less than $1 million (Rs 6.3 crore), with its sweet spot ranging between $400,000 (Rs 2.5 crore) and $600,000 (Rs 3.8 crore) for stakes of between 15% and 30%, will apply the same investment mandate in the UK and Singapore.
"No one has really done this before, and therefore, it will be a learning process as we go ahead," Srivastava said.
IAN, which looks to stay invested for about three to five years, has invested in over 40 ventures, across sectors such as internet, information technology, education, travel and tourism and mobile.
It counts companies such as online education company Aurus Network, data security company Druva Software and social gaming venture HashCube among its portfolio. It recently exited mobile video streaming startup Jigsee in February this year.
IAN, which has about 260 members globally, counts prominent angel investors like Hero Cycles managing director Sunil Munjal, HCL cofounder Ajai Chowdhry and Sanjeev Bhikchandani, cofounder and chief executive of internet company Info Edge, in its network.
Success in my Habit
Sunday, December 1, 2013
Oracle India ties up with IEG
Hyderabad: Oracle India has signed an agreement with the Institute of Electronic Governance (IEG) of Andhra Pradesh to implement Oracle Academy’s computer science curriculum in 400 educational institutions in the State.
About 50,000 students and 1,000 faculties in the State will be exposed to Oracle technologies. Oracle Academy content and courseware will also be offered as elective modules in at least 100 institutions.
“As part of the MoU, 150 faculty members will participate in train-the-trainer courses, enabling them to use Oracle Academy infrastructure to train other teachers. Faculty training will begin in January 2014,” an Oracle press release said.
“The Oracle Academy offers a comprehensive programme that helps students gain industry relevant technology skills needed to succeed in today’s job market,” Yatin Kantak, Senior Director and Group Head (Geo-expansion) of Oracle India, said.
About 50,000 students and 1,000 faculties in the State will be exposed to Oracle technologies. Oracle Academy content and courseware will also be offered as elective modules in at least 100 institutions.
“As part of the MoU, 150 faculty members will participate in train-the-trainer courses, enabling them to use Oracle Academy infrastructure to train other teachers. Faculty training will begin in January 2014,” an Oracle press release said.
“The Oracle Academy offers a comprehensive programme that helps students gain industry relevant technology skills needed to succeed in today’s job market,” Yatin Kantak, Senior Director and Group Head (Geo-expansion) of Oracle India, said.
India takes its first step into shale gas, oil exploration
New Delhi: On Tuesday, ONGC will dedicate the first shale well spud in Gujarat’s Cambay Basin to the nation in the presence of Minister for Petroleum & Natural Gas, M. Veerappa Moily.
ONGC had first struck shale gas in a pilot project at Ichhapur in Burdwan, West Bengal.
“The drilling of Jambusar-55 (well in the Gujarat block), the first well under the pilot programme, started on October 27,” said N.K. Verma, Director-Exploration, ONGC.
As on November 24, the well has been drilled to a depth of 1,735 metres, and further drilling is in progress.
On the cost involved in shale drilling, Verma said, “The cost, at present, is similar to what is spent on drilling a conventional onland well.”
A conventional well costs about $6-7 million. “But, since this will require further assessment, the cost will be slightly higher – cushion of a million dollars more,” he added.
Conoco pact
ONGC had signed a memorandum of understanding with the ConocoPhillips, US. The two undertook joint studies of the four basins: Cambay, Krishna Godavari, Cauvery and Damodar.
Based on the studies, a shale gas pilot drilling programme was firmed up in the Broach depression area of Cambay Basin in technical collaboration with Conoco.
Asked whether Conoco will be a partner in the block, Verma said the US firm did not want to share the costs, therefore, ONGC was doing it on its own.
Other projects
ONGC plans to follow this pilot project in Cambay Basin with similar drilling programmes in other basins, according to the guidelines of New Shale Gas Policy announced recently.
The policy allowed ONGC and OIL the right to explore shale gas and oil in their nomination blocks. While ONGC will take up 175 blocks, Oil India will do it in 15 blocks in three assessment phases.
According to the policy, ONGC will get 50 blocks in the first phase, another 75 blocks in the second and 50 blocks in the third phase. Oil India would take up five blocks each in all three phases.
The US Energy Information Administration estimates India’s total reserve recoverable shale gas at 96 trillion cubic feet (TCF).
ONGC had first struck shale gas in a pilot project at Ichhapur in Burdwan, West Bengal.
“The drilling of Jambusar-55 (well in the Gujarat block), the first well under the pilot programme, started on October 27,” said N.K. Verma, Director-Exploration, ONGC.
As on November 24, the well has been drilled to a depth of 1,735 metres, and further drilling is in progress.
On the cost involved in shale drilling, Verma said, “The cost, at present, is similar to what is spent on drilling a conventional onland well.”
A conventional well costs about $6-7 million. “But, since this will require further assessment, the cost will be slightly higher – cushion of a million dollars more,” he added.
Conoco pact
ONGC had signed a memorandum of understanding with the ConocoPhillips, US. The two undertook joint studies of the four basins: Cambay, Krishna Godavari, Cauvery and Damodar.
Based on the studies, a shale gas pilot drilling programme was firmed up in the Broach depression area of Cambay Basin in technical collaboration with Conoco.
Asked whether Conoco will be a partner in the block, Verma said the US firm did not want to share the costs, therefore, ONGC was doing it on its own.
Other projects
ONGC plans to follow this pilot project in Cambay Basin with similar drilling programmes in other basins, according to the guidelines of New Shale Gas Policy announced recently.
The policy allowed ONGC and OIL the right to explore shale gas and oil in their nomination blocks. While ONGC will take up 175 blocks, Oil India will do it in 15 blocks in three assessment phases.
According to the policy, ONGC will get 50 blocks in the first phase, another 75 blocks in the second and 50 blocks in the third phase. Oil India would take up five blocks each in all three phases.
The US Energy Information Administration estimates India’s total reserve recoverable shale gas at 96 trillion cubic feet (TCF).
India-Iran bilateral trade expected to top $20 billion
Hyderabad: India and Iran’s bilateral trade is expected to soon cross the $20 billion mark, up from $15 billion it logged during 2012-2013, according to a trade delegation from Iran.
While the imports continue to be dominated by oil, both the countries are keen to bring a balance by increasing exports from India, representatives of the delegation said.
Promising figures
The first six months of the current financial year, April to September 2013, Indian exports have zoomed to $2.45 billion from $1.45 billion recorded in the same period last year, Rafeeq Ahmed, President of Federation of Indian Export Organisation said.
“With UCO Bank opening letters of credit (LCs) close to $0.5 billion on a monthly basis, this will take the exports close to $6 billion. Once the facility of import for re-export is implemented, we may be adding another $2-3 billion to our exports,” he said.
Yahya Ale-es-hagh, President, Tehran Chamber of Commerce, Industries, Mines and Agriculture, said: “There were some concerns with regards to banking and also visa issues. All these are being addressed and we hope they will be sorted out thereby helping in accelerating the trade between the two countries and also expanding the number of goods.”
Scope for increased trade
There is immense scope to boost Indian exports in pharmaceuticals, agriculture produce and mining items, he explained. Iran now is the second largest producer of natural gas but expects to become the largest soon as the available resources indicate, said Mohammed Reza Bakhtiarti, Deputy for International Affairs at the Teheran Chamber.
“The gas availability shows that we have enough gas to supply for 250 years and beyond. India-Iran trade is set to top $20 billion soon,” he added.
to boost trade growth
S. Chandrasekharan, Executive Director of UCO Bank, said that the Ministry of Commerce has initiated several steps to boost and accelerate trade growth. For a smoother trade between the two countries, the RBI has approved a rupee payment mechanism which is beneficial to traders.
Representatives from Iranian delegation and their counterparts see this interactive meet as an opportunity to open up more business channels.
While the imports continue to be dominated by oil, both the countries are keen to bring a balance by increasing exports from India, representatives of the delegation said.
Promising figures
The first six months of the current financial year, April to September 2013, Indian exports have zoomed to $2.45 billion from $1.45 billion recorded in the same period last year, Rafeeq Ahmed, President of Federation of Indian Export Organisation said.
“With UCO Bank opening letters of credit (LCs) close to $0.5 billion on a monthly basis, this will take the exports close to $6 billion. Once the facility of import for re-export is implemented, we may be adding another $2-3 billion to our exports,” he said.
Yahya Ale-es-hagh, President, Tehran Chamber of Commerce, Industries, Mines and Agriculture, said: “There were some concerns with regards to banking and also visa issues. All these are being addressed and we hope they will be sorted out thereby helping in accelerating the trade between the two countries and also expanding the number of goods.”
Scope for increased trade
There is immense scope to boost Indian exports in pharmaceuticals, agriculture produce and mining items, he explained. Iran now is the second largest producer of natural gas but expects to become the largest soon as the available resources indicate, said Mohammed Reza Bakhtiarti, Deputy for International Affairs at the Teheran Chamber.
“The gas availability shows that we have enough gas to supply for 250 years and beyond. India-Iran trade is set to top $20 billion soon,” he added.
to boost trade growth
S. Chandrasekharan, Executive Director of UCO Bank, said that the Ministry of Commerce has initiated several steps to boost and accelerate trade growth. For a smoother trade between the two countries, the RBI has approved a rupee payment mechanism which is beneficial to traders.
Representatives from Iranian delegation and their counterparts see this interactive meet as an opportunity to open up more business channels.
Shipping Minister Launched Inland Waterways Projects at Kolkata
New Delhi: The Minister of Shipping Shri G.K. Vasan has said that it is the government’s endeavour to make all the ports of the country profitable. He was speaking after flagging off coal barges of 2100 DWT (Deadweight tonnage) of Jindal ITF Ltd, to formally launch the recently started movement of imported coal on National Waterway-1 (the Ganga-Bhagirathi-Hooghly River System) by inland vessels from Sandheads in Bay of Bengal to Farakka Thermal Power Plant of NTPC Ltd. in District Murshidabad, West Bengal. The minister said that this is a unique project where government, public and private sectors joined hands together to provide a good alternative mode of transport. Shri.Vasan pointed out that the Kolkatta Port Trust would also get revenue out of this project. The minister also inaugurated a Transport terminal of the Inland Waterways Authority of India (IWAI) at the function at Garden Reach Jetty-2 in Kolkatta Port Trust area today.
Shri.Vasan said that in due course of time IWAI would develop more such inter-modal transportation hubs with rail and road connectivity for movement of not only the coal but also for other bulk cargo like coal, fertilizers, foodgrains etc. This additional supply of coal through inland waterways, an eco-friendly, economical and fuel efficient mode of transport, will augment coal supply to NTPC Power Plant at Farakka enabling increased power generation and employment opportunities.
The minister expressed happiness that for the first time in the country a private entrepreneur has made a substantiate investment in the IWT development. Jindal ITF Ltd has invested about Rs. 500 crore for transshipper at Sandheads, 23 coal carrying barges, inland water terminal at Farakka with state-of-art coal unloading cranes and a conveyor belt system. The operator, Jindal ITF Ltd. will transport minimum three (3) million tonnes of coal per annum for seven years.
Speaking on the occasion the Secretary, Ministry of Shipping, Shri Vishwapati Trivedi said that this project has been set overcoming great difficulties. He emphasized on the importance of further developing the riverain ports of the region. Shri Amitabh Verma, Chairman, IWAI, Shri R.P.S. Kahlon, Chairman, KoPT and other senior officials also participated in the function.
Kolkata being a transportation hub on the Ganga, the new terminal would serve states of Uttar Pradesh, Bihar, West Bengal and the North-Eastern Region. The construction of this RCC Inland Waterways Terminal (IWT) terminal was taken up in Kolkatta Port Trust area at a cost of about Rs. 38 crore and it will give a fillip to inland navigation in the region.
This is the first project for bulk movement of coal through National Waterways. It is also the first time when a private entrepreneur has made a substantiate investment in the IWT development for in the country. A conveyor belt system from the jetty on National Waterway-1 to the coal stockyard of NTPC power plant was also set up at Farakka.
The Inland Water Transport is economical, environmental friendly and is most suitable for bulk cargo movement. IWAI is developing first 3 National Waterways namely NW-1 (on the Ganga), NW-2 (Brahmaputra) and NW-3 (on the West Coast Canal system) for shipping and navigation by providing navigational channel with targeted depth and width for most part of the year. Intermodal connectivity with rail and road has also been planned for selected locations depending on the hinterland cargo projections. The infrastructure so far created will be further developed if any other specific projects targeting large quantity of bulk goods like steel, cement, jute, fertilizers, and foodgrains etc. are identified and committed for transportation on National Waterways.
At present 10 Thermal Power Stations are operational in the proximity of National Waterway – 1. Another 11 are expected to come up along the NW-1 in the next 5 to 8 years with the total installed capacity of 15000 MW. National Waterway – 1 is fully ready to cater to the transportation needs of NTPC, and other industrial units for transportation of bulk cargo required for the plants located on the banks of the Ganga. Inland Waterways also has potential to create of employment opportunities for people in the vicinity of waterways.
Shri.Vasan said that in due course of time IWAI would develop more such inter-modal transportation hubs with rail and road connectivity for movement of not only the coal but also for other bulk cargo like coal, fertilizers, foodgrains etc. This additional supply of coal through inland waterways, an eco-friendly, economical and fuel efficient mode of transport, will augment coal supply to NTPC Power Plant at Farakka enabling increased power generation and employment opportunities.
The minister expressed happiness that for the first time in the country a private entrepreneur has made a substantiate investment in the IWT development. Jindal ITF Ltd has invested about Rs. 500 crore for transshipper at Sandheads, 23 coal carrying barges, inland water terminal at Farakka with state-of-art coal unloading cranes and a conveyor belt system. The operator, Jindal ITF Ltd. will transport minimum three (3) million tonnes of coal per annum for seven years.
Speaking on the occasion the Secretary, Ministry of Shipping, Shri Vishwapati Trivedi said that this project has been set overcoming great difficulties. He emphasized on the importance of further developing the riverain ports of the region. Shri Amitabh Verma, Chairman, IWAI, Shri R.P.S. Kahlon, Chairman, KoPT and other senior officials also participated in the function.
Kolkata being a transportation hub on the Ganga, the new terminal would serve states of Uttar Pradesh, Bihar, West Bengal and the North-Eastern Region. The construction of this RCC Inland Waterways Terminal (IWT) terminal was taken up in Kolkatta Port Trust area at a cost of about Rs. 38 crore and it will give a fillip to inland navigation in the region.
This is the first project for bulk movement of coal through National Waterways. It is also the first time when a private entrepreneur has made a substantiate investment in the IWT development for in the country. A conveyor belt system from the jetty on National Waterway-1 to the coal stockyard of NTPC power plant was also set up at Farakka.
The Inland Water Transport is economical, environmental friendly and is most suitable for bulk cargo movement. IWAI is developing first 3 National Waterways namely NW-1 (on the Ganga), NW-2 (Brahmaputra) and NW-3 (on the West Coast Canal system) for shipping and navigation by providing navigational channel with targeted depth and width for most part of the year. Intermodal connectivity with rail and road has also been planned for selected locations depending on the hinterland cargo projections. The infrastructure so far created will be further developed if any other specific projects targeting large quantity of bulk goods like steel, cement, jute, fertilizers, and foodgrains etc. are identified and committed for transportation on National Waterways.
At present 10 Thermal Power Stations are operational in the proximity of National Waterway – 1. Another 11 are expected to come up along the NW-1 in the next 5 to 8 years with the total installed capacity of 15000 MW. National Waterway – 1 is fully ready to cater to the transportation needs of NTPC, and other industrial units for transportation of bulk cargo required for the plants located on the banks of the Ganga. Inland Waterways also has potential to create of employment opportunities for people in the vicinity of waterways.
Plastic firms to invest Rs 3,000 cr in Gujarat
Ahmedabad: About 150 plastics manufacturers are expected to invest nearly Rs 3,000 crore in the upcoming plastics park at Dahej in Bharuch district of Gujarat.
These firms, from the small-scale sector, have already booked plots to set up their units in the 200 acres allotted by the State Government, Raju Desai, Chairman, Plastivision India 2013, said.
Each of these units would invest Rs 10 crore to Rs 25 crore. The first units will commence production in 2015.
He also said the Ninth Plastivision India 2013, an international exhibition being organised by All India Plastics Manufacturers’ Association (AIPMA), will be held in Mumbai from December 12 to 16. Over 1,500 exhibitors from 30 countries will participate .
These firms, from the small-scale sector, have already booked plots to set up their units in the 200 acres allotted by the State Government, Raju Desai, Chairman, Plastivision India 2013, said.
Each of these units would invest Rs 10 crore to Rs 25 crore. The first units will commence production in 2015.
He also said the Ninth Plastivision India 2013, an international exhibition being organised by All India Plastics Manufacturers’ Association (AIPMA), will be held in Mumbai from December 12 to 16. Over 1,500 exhibitors from 30 countries will participate .
London invites Kerala start-ups
Thiruvananthapuram: Start up in London, develop in India. This is the message from London and Partners, the metropolis’s official promotional organisation, to start-ups based in Kerala.
Set up business there and get back home to develop it. Size does not matter for aspiring entrepreneurs, says Jeff Cao, Head for Asia and Pacific, London and Partners.
DIRECT FLIGHTS
In fact 95 per cent of the businesses hosted by the agency have strength varying from 10 to 15, according to Gautam Sehgal, Chief Representative for India.
There are 131 direct flights operating to London every week from various cities in India, notes Cao.
So companies here are best positioned to take advantage of facilities that the city offers, he adds. Aspirants need just to plug in at office space made available for liberal terms.
The agency will also help with finding necessary capital for investment and growth - be it in the form of angel funds, venture capital or private equity.
STORY TO TELL
Cao said his agency is looking to invite aspiring entrepreneurs ‘who have a compelling story to tell’ to use the platform London offers and reach out to the rest of the world.
Some of Kerala-based companies have already proceeded to set up a perch there. Apollo Tyres, which has set up a marketing office, is one of them.
The city is inviting investors from varied sectors, including information and communication technology and finance, who want to do business with the rest of Europe.
Research and development and intellectual property are fast catching up as major opportunities. Pharmaceuticals and life sciences are but a logical extension to these.
CREATIVE INDUSTRIES
Known as the publishing capital of the world, London offers investment opportunities in this sector as well, says Cao. He calls them creative industries. Fashion technology, media and films also answer to their specifications.
Renewable energy in all forms is another area that the city invites investments in. It aims to cut down its emissions by 50 per cent by 2020.
Students from India will be encouraged to conduct research in wind energy technologies. Offshore wind and solar farms are also priority areas.
Cao says that the city is promoting electric vehicles in a big way. There is renewed emphasis on creating entire corridors where charging facilities are available.
Fresh from the success of hosting the Olympics, the city is bracing to host the 2017 world championships in athletics, he added.
Set up business there and get back home to develop it. Size does not matter for aspiring entrepreneurs, says Jeff Cao, Head for Asia and Pacific, London and Partners.
DIRECT FLIGHTS
In fact 95 per cent of the businesses hosted by the agency have strength varying from 10 to 15, according to Gautam Sehgal, Chief Representative for India.
There are 131 direct flights operating to London every week from various cities in India, notes Cao.
So companies here are best positioned to take advantage of facilities that the city offers, he adds. Aspirants need just to plug in at office space made available for liberal terms.
The agency will also help with finding necessary capital for investment and growth - be it in the form of angel funds, venture capital or private equity.
STORY TO TELL
Cao said his agency is looking to invite aspiring entrepreneurs ‘who have a compelling story to tell’ to use the platform London offers and reach out to the rest of the world.
Some of Kerala-based companies have already proceeded to set up a perch there. Apollo Tyres, which has set up a marketing office, is one of them.
The city is inviting investors from varied sectors, including information and communication technology and finance, who want to do business with the rest of Europe.
Research and development and intellectual property are fast catching up as major opportunities. Pharmaceuticals and life sciences are but a logical extension to these.
CREATIVE INDUSTRIES
Known as the publishing capital of the world, London offers investment opportunities in this sector as well, says Cao. He calls them creative industries. Fashion technology, media and films also answer to their specifications.
Renewable energy in all forms is another area that the city invites investments in. It aims to cut down its emissions by 50 per cent by 2020.
Students from India will be encouraged to conduct research in wind energy technologies. Offshore wind and solar farms are also priority areas.
Cao says that the city is promoting electric vehicles in a big way. There is renewed emphasis on creating entire corridors where charging facilities are available.
Fresh from the success of hosting the Olympics, the city is bracing to host the 2017 world championships in athletics, he added.
JLR bullish on growing luxury market
Coimbatore: The luxury car market, though nascent in India, is growing rapidly, said Rohit Suri, Vice- President, Jaguar Land Rover India.
The luxury car segment had grown 21 per cent during the first half of the current fiscal compared with the corresponding period of the previous year, he said. “Our company has registered a 30 per cent growth between April and October 2013. The entry level car — Jaguar XF — has been the best selling vehicle. But that does not mean that other cars from Jaguar Land Rover stable are not doing well,” he added.
Suri was in the city for the inauguration of a Jaguar Land Rover showroom in Coimbatore. This is the second Jaguar Land Rover showroom in Tamil Nadu, after Chennai.
The company has a network of 19 distribution outlets across 17 cities in India. It plans to expand the network to 22- 23 outlets before the end of the year. “The proposed ones would be outside Tamil Nadu,” Suri said.
VST Group has taken up the dealership for Jaguar and Land Rover in Tamil Nadu.
The showroom, located at Oddarpalayam in Ondhipudhur, Coimbatore will showcase 12 new Jaguar Land Rover cars, including the recently launched Range Rover Sport, Range Rover Evoque, Discovery 4 and Freelander 2.
The Coimbatore facility, according to Arun Surendra, Managing Director, VST Motors (VST Group), has been established in a 2-acre plot. “The built-up area is around 30,000 sq feet. This can be expanded as and when the product portfolio grows. While there will be a display of 12 cars in the showroom, the workshop area will comprise 14 bays, including body painting facility,” Surendra said.
The Group has invested around Rs 6-8 crore for establishing the facility.
The showroom will cater to Erode, Salem, Trichi and Madurai markets and also help owners of Jaguar range of cars get their vehicle serviced. Hitherto, they had to take it to Chennai, Surendra pointed out.
The company had sold around 300 new cars in Tamil Nadu in the last 2-3 years. “Fifty of these are plying in Coimbatore region. Another10 -12 cars will be delivered before the end of this month,” added Surendra.
On new models, Suri said the company would roll out 2 -3 new models in the next 24 to 36 months.
The luxury car segment had grown 21 per cent during the first half of the current fiscal compared with the corresponding period of the previous year, he said. “Our company has registered a 30 per cent growth between April and October 2013. The entry level car — Jaguar XF — has been the best selling vehicle. But that does not mean that other cars from Jaguar Land Rover stable are not doing well,” he added.
Suri was in the city for the inauguration of a Jaguar Land Rover showroom in Coimbatore. This is the second Jaguar Land Rover showroom in Tamil Nadu, after Chennai.
The company has a network of 19 distribution outlets across 17 cities in India. It plans to expand the network to 22- 23 outlets before the end of the year. “The proposed ones would be outside Tamil Nadu,” Suri said.
VST Group has taken up the dealership for Jaguar and Land Rover in Tamil Nadu.
The showroom, located at Oddarpalayam in Ondhipudhur, Coimbatore will showcase 12 new Jaguar Land Rover cars, including the recently launched Range Rover Sport, Range Rover Evoque, Discovery 4 and Freelander 2.
The Coimbatore facility, according to Arun Surendra, Managing Director, VST Motors (VST Group), has been established in a 2-acre plot. “The built-up area is around 30,000 sq feet. This can be expanded as and when the product portfolio grows. While there will be a display of 12 cars in the showroom, the workshop area will comprise 14 bays, including body painting facility,” Surendra said.
The Group has invested around Rs 6-8 crore for establishing the facility.
The showroom will cater to Erode, Salem, Trichi and Madurai markets and also help owners of Jaguar range of cars get their vehicle serviced. Hitherto, they had to take it to Chennai, Surendra pointed out.
The company had sold around 300 new cars in Tamil Nadu in the last 2-3 years. “Fifty of these are plying in Coimbatore region. Another10 -12 cars will be delivered before the end of this month,” added Surendra.
On new models, Suri said the company would roll out 2 -3 new models in the next 24 to 36 months.
H&R Johnson ties up with Nobilia of Germany
New Delhi: H&R Johnson will offer the Nobilia range of German-made modular kitchens in Chennai.
Nobilia is a market leader in modular kitchens in Germany. One in three modular kitchens there is by Nobilia, according to its head of exports, Michael Behr.
Represented by H&R Johnson in India, it is looking at a chain of outlets in major cities.
The store in Chennai will be at Besant Nagar and will offer the entire range.
H&R Johnson COO Sushil Matey said his company was expanding its presence in the home segment with an integrated approach as provider of flooring, wall panelling, bathroom fittings and kitchens.
The association with Nobilia was finalised a few years back and the company has been offering Nobilia products for some time. But with the increasing demand for modular kitchens and the demand for quality products the company is highlighting the brand, Matey said.
Nobilia is a market leader in modular kitchens in Germany. One in three modular kitchens there is by Nobilia, according to its head of exports, Michael Behr.
Represented by H&R Johnson in India, it is looking at a chain of outlets in major cities.
The store in Chennai will be at Besant Nagar and will offer the entire range.
H&R Johnson COO Sushil Matey said his company was expanding its presence in the home segment with an integrated approach as provider of flooring, wall panelling, bathroom fittings and kitchens.
The association with Nobilia was finalised a few years back and the company has been offering Nobilia products for some time. But with the increasing demand for modular kitchens and the demand for quality products the company is highlighting the brand, Matey said.
EIL enters Nigerian refinery and petrochemical sector with a mega project
New Delhi: Engineers India Limited (EIL) has reached an understanding with Dangote Group in Nigeria for Project Management Consultancy (PMC) and Engineering, Procurement and Construction Management (EPCM) services for implementing a grassroot 400,000 BPSD (20 MMTPA) Petroleum Refinery and 600,000 TPA Polypropylene Plant.
The agreement for the same has been initialed for the Lumpsum value of $139 million. This will be the largest ever single consultancy assignment for EIL.
EIL shall render PMC including EPCM and Commissioning services for the project. The main facilities of the project comprise of Crude Distillation Unit, Single train Residue Fluid Catalytic Cracking Unit, Diesel Hydrotreating Unit, CCR unit, Alkylation Unit, Poly-Propylene Unit etc, Utilities and Offsites including captive power with other enabling infrastructure facilities. The crude and product handing facilities through Single Point Mooring (SPM) would also be integrated with the refinery.
The agreement for the same has been initialed for the Lumpsum value of $139 million. This will be the largest ever single consultancy assignment for EIL.
EIL shall render PMC including EPCM and Commissioning services for the project. The main facilities of the project comprise of Crude Distillation Unit, Single train Residue Fluid Catalytic Cracking Unit, Diesel Hydrotreating Unit, CCR unit, Alkylation Unit, Poly-Propylene Unit etc, Utilities and Offsites including captive power with other enabling infrastructure facilities. The crude and product handing facilities through Single Point Mooring (SPM) would also be integrated with the refinery.
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