Success in my Habit
Saturday, December 7, 2013
Germany keen on Indian investments
Hyderabad: East Germany offers good prospects to Indian investors and is ideal for investments, according to Stefan Weckbach, Consul-General, German Consulate. Speaking at a meet on ‘Tapping Germany’s Business Potential: Opportunities for Indian Companies in Eastern Germany’ here, he said an increasing number of Indian companies were investing in East Germany. “East Germany has excellent infrastructure in the form of educational institutions, industrial research and development centres, etc. It is a fertile ground for investors,’’ he said. The bilateral trade between India and Germany stood at $17.6 billion in 2012. B. Ashok Reddy, President – Global HR, Infotech Enterprises Ltd, said after much consideration, his company chose Germany as the headquarters of its European operations. While acknowledging that there were cultural differences between India and Germany, Reddy said Infotech was organising frequent trips to India for its German workforce and vice versa for its Indian professionals. “We are also examining organic and inorganic approaches for growth in Germany,’’ he added.
Apollo Tyres closes $60-m deal with Sumitomo
New Delhi: Apollo Tyres Ltd has said it has closed a deal with Japan’s Sumitomo Rubber Industries to sell its South African business for $60 million.
According to a statement issued here, Sumitomo will take over Apollo Tyres South Africa, including the Ladysmith passenger car tyre plant and Dunlop brand rights in 32 African countries.
However, Apollo will retain the Durban plant, which produces truck and bus radial tyres and off- highway tyres that are used in the mining and construction industries.
Post deal, Apollo will continue to sell Apollo, Vredestein and Regal branded tyres in Africa, the company said.
Both companies will undertake contract manufacturing of their respective brands at each other’s facilities to have locally manufactured products available for the market.
The employees, retained by Apollo in South Africa, will work for the newly formed company, Apollo Durban (Pty) Ltd.
No job cuts
No jobs have been lost in the transaction. Apollo Tyres had first announced the deal in May this year.
The company’s shares ended at Rs 80.95 on the BSE, up 0.62 per cent from the previous close.
According to a statement issued here, Sumitomo will take over Apollo Tyres South Africa, including the Ladysmith passenger car tyre plant and Dunlop brand rights in 32 African countries.
However, Apollo will retain the Durban plant, which produces truck and bus radial tyres and off- highway tyres that are used in the mining and construction industries.
Post deal, Apollo will continue to sell Apollo, Vredestein and Regal branded tyres in Africa, the company said.
Both companies will undertake contract manufacturing of their respective brands at each other’s facilities to have locally manufactured products available for the market.
The employees, retained by Apollo in South Africa, will work for the newly formed company, Apollo Durban (Pty) Ltd.
No job cuts
No jobs have been lost in the transaction. Apollo Tyres had first announced the deal in May this year.
The company’s shares ended at Rs 80.95 on the BSE, up 0.62 per cent from the previous close.
Harley Davidson to export India-made Street 750 to Europe
une:India is the only country outside of the US to be making the new bike, which is built on the completely new “Street” platform. Also, it will be the first Harley Davidson product to be exported from the facility.
The first Harley Davidson member in the sub-Rs 5 lakh segment, the Street 750 is to be unveiled at the India Bike Week in Goa in early January, following which it will be showcased at the forthcoming Delhi Auto Expo.
Here last week to inaugurate HDI’s 11th dealership in India, Anoop Prakash, MD of HD India, said commercial deliveries of the Street 750 will begin by April or May next year. The Made-in-India bike will also be exported to Italy, Portugal and Spain. Total shipments of the model are pegged at 7,000-10,000 units.
HD will increase its investment in the Indian facility by around 35 per cent for assembling the Street 750
The first Harley Davidson member in the sub-Rs 5 lakh segment, the Street 750 is to be unveiled at the India Bike Week in Goa in early January, following which it will be showcased at the forthcoming Delhi Auto Expo.
Here last week to inaugurate HDI’s 11th dealership in India, Anoop Prakash, MD of HD India, said commercial deliveries of the Street 750 will begin by April or May next year. The Made-in-India bike will also be exported to Italy, Portugal and Spain. Total shipments of the model are pegged at 7,000-10,000 units.
HD will increase its investment in the Indian facility by around 35 per cent for assembling the Street 750
Garment exports to touch US$ 60 billion in next three years
Garment exports to touch US$ 60 billion in next three years
Press Information Bureau: December 03, 2013
New Delhi:Speaking on the Textile Conclave 2013, here today, Chairman, AEPC said that India’s garment exports would be touching 60 US $ billion in the next 3 years, with the help of Government support. Dr. Sakthivel identified shortfall of labour to be the biggest bottlenecks. Chairman AEPC informed that, “We are getting good orders and have won the confidence of buyers. As a brand India we are recognized everywhere but challenge is translating that leverage into the world textiles global hub.” We are looking for skilled people in large number to meet them. Definitely India will be number one in garment export. The one day Textiles Conclave 2013 is the organized by the Ministry of Textiles. The Union Textiles Minister inaugurated the conference in presence of Secretary Textiles Smt. Zohra Chatterji and stakeholders of the Textiles Industry.
Apparel exports grew to 31% for the month of October 2013. Export in dollar terms for April-Oct. of the FY 2013-14 has increased by 15.5 per cent over the same period of previous FY and reached to USD 8259 million however, in rupee terms exports increased by 26.18 per cent compared to same period of last FY.
Lauding the efforts of Textiles Minister Dr. K S Rao and Secretary Textiles, Smt Zohra Chatterji , Dr Sakthivel stated that, “Today’s Textiles conclave is the first conclave in the history of India. This is a mega platform where all stakeholders from the Textiles industry, including policy matters, industrialists and the Government, to usher the new era for the Indian Textiles Industry. The issues that were discussions and deliberations and sharing of prospective will surely fix the agenda of the textiles Industry. Bodies like NTC, SRTEPC, EPCH, TEXPROCIL. SIMA, CMAI
On the partnering OF Textiles Conclave with CNBC TV 18 for the Textiles conclave Chairman AEPC, stated that, there is also way to brand India through international media tie-ups and promotions.
Speaking on the Textiles Conclave 2013 Dr. K S Rao, the Union Textiles Minister stated that, I am happy to participate in the Textiles Conclave. This is the golden era of textiles in India and we have to work to make India hub of Textiles exports. I don’t think it’s difficult to achieve the number 1 position. We have the potential and capacity we need to just take care of skill training and power availability.
Delivering the inaugural address Secretary Textiles, Smt. Zohra Chatterji stated that, we are building road map to move forward. The planned schemes are ready and we are going full way to implement it. We have a strong raw material base, skilled workforce and stringent compliant standards. Top brands and retails are eyeing India as a sourcing destination. We have a large skill base to meet the growing burgeoning demand the women need s to work for the longer hours and our role is to make this possible.
The participants of AEPC also spoke of DISHA which is the program for ensuring compliance in the garment factories in India.
FDI proposals worth Rs 821.63 crore approved by the Government
New Delhi: Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on November 13, 2013, the Government of India has approved twelve (12) proposals of Foreign Direct Investment (FDI) amounting to Rs.821.63 crore approximately.
Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 13.11.2013
Following 12 (Twelve) proposals have been approved:
Sl. No. Name of the applicant Particulars of the proposal FDI/NRI inflows (Rs. in crore)
1 M/s H&M Hennes & Mauritz GBC AB To set up a WOS in India to undertake single brand retailing. 720.00
2 M/s Conrad Horler, Karnataka A Foreign citizen (NR) proposes to set up a multimedia LLP. 0.0045
3 M/s Hawco Petrofer LLP, Mumbai Induction of foreign equity in LLP engaged in the production of Speciality Chemical Products. 0.34 crore (approx.) (40000 Euro)
4 M/s Marketvistas Consumer Insights Pvt. Ltd., (Soniya Mahajani), Mumbai Investee company engaged in market research has sought post-facto approval for issuance of partly paid up shares to foreign investor. 1.24
5 M/s Dhanlaxmi Infrastructure Pvt. Ltd., Gujarat A NR company proposes to transfer its holding in an Indian Infrastructure company to its own group company before the completion of the 3 year lock-in-period. No fresh inflow
6 Mr. Jobair Hasan Chowdhury and Ms. Tasneem Ahmed, Bangladesh Two Bangladesh nationals propose to set up a bakery company. 0.50
7 M/s Green Destinations Holdings, Mauritius NR to NR transfer of shares before the expiry of lock-in period. Nil
8 M/s Mantri Technology Constellations Pvt. Ltd., Bangalore Relaxation in the lock in period is requested for NR to NR transfer among group companies of the FCDs in an Indian construction company Nil
9 M/s Bay Capital Investment Ltd, Mauritius Acquisition of shares in a listed Indian Company which is the Core Investment Company of a leading infrastructure developing group of companies. 100.00
10 M/s Viacom 18 Media Pvt. Ltd. Deletion of one the conditions in its FIPB approval given to M/s Viacom 18 is engaged in the activities of broadcasting non-news and non-current affairs television channels. Nil
11 M/s GPX India Private Limited, Maharashtra Guidance on compounding with regard to issue equity shares to the Foreign Collaborator against import of capital goods/ equipment/ machinery. No fresh inflow
12 M/s Univan Ship Management India Pvt. Ltd., Mumbai Issue of equity shares against transfer of immovable assets of the Indian Liaison Office in India. Nil
2. The following 4 (Four) proposals have been deferred:
Sl. No. Name of the applicant Particulars of the proposal
1 M/s GETCO Asia Pte. Ltd., Singapore To set up a downstream wholly owned subsidiary of its Indian WOS primarily to engage in commodity broking.
2 M/s P5 Asia Holding Investments (Mauritius) Limited, Mauritius The applicant, a NR entity proposes to purchase 50% of the shares in an existing broadcasting company with 100% FDI, from another existing NR investor.
3 M/s Veriant Systems (India) Pvt. Ltd. To undertake cash and carry wholesale trading and export trading in respect of only Enterprise Intelligence Systems (EIS) and Video Intelligence Systems (VIS) products related to telecom and defence, without any condition of seeking prior approval before making every sale.
4 M/s Gastaad Hotels Pvt. Ltd. Post facto approval for issue of partly paid up shares to the foreign investor.
3. The following 4 (Four) proposals have been rejected:
Sl. No. Name of the applicant Particulars of the proposal
1 M/s Astonfield Renewables Pvt. Ltd. A consultancy company is seeking post facto approval for downstream investments for which approval was required at the material time.
2 M/s Barefoot Resorts & Leisure India Pvt. Ltd., Chennai Post facto approval for issuance of partly paid up shares to carry out the business of leisure tourist resorts both on wholesome basis and on time share basis.
3 M/s Veritas (India) Limited Post facto approval has been sought for the issue of warrants. The company is engaged in the business of import, export, trading and distribution of metals and chemical products, power generation.
4 M/s Security International Services India Pvt. Ltd., Delhi A Security Services Company to give 49% ownership to a foreign company, by a way of fresh issue of shares
4. The following 1 (One) proposal has been withdrawn from the agenda:
Sl. No. Name of the applicant Particulars of the proposal
1 M/s CGP India Investments Ltd. To increase foreign equity participation from 64.38% to 100% in an Indian company engaged in the telecom sector.
5. The following 1 (One) proposal has been withdrawn by the applicant:
Sl. No. Name of the applicant Particulars of the proposal
1 M/s UMB Medica India Pvt. Ltd. To change its control and ownership by transfer of shares from NR to NR.
6. Decision in the following 1 (One) proposal has been kept in abeyance:
Sl. No. Name of the applicant Particulars of the proposal FDI/NRI inflows (` In crore)
1 M/s Holcim (India) Pvt. Ltd. Acquisition of shares and subsequent reverse merger. Nil
Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 13.11.2013
Following 12 (Twelve) proposals have been approved:
Sl. No. Name of the applicant Particulars of the proposal FDI/NRI inflows (Rs. in crore)
1 M/s H&M Hennes & Mauritz GBC AB To set up a WOS in India to undertake single brand retailing. 720.00
2 M/s Conrad Horler, Karnataka A Foreign citizen (NR) proposes to set up a multimedia LLP. 0.0045
3 M/s Hawco Petrofer LLP, Mumbai Induction of foreign equity in LLP engaged in the production of Speciality Chemical Products. 0.34 crore (approx.) (40000 Euro)
4 M/s Marketvistas Consumer Insights Pvt. Ltd., (Soniya Mahajani), Mumbai Investee company engaged in market research has sought post-facto approval for issuance of partly paid up shares to foreign investor. 1.24
5 M/s Dhanlaxmi Infrastructure Pvt. Ltd., Gujarat A NR company proposes to transfer its holding in an Indian Infrastructure company to its own group company before the completion of the 3 year lock-in-period. No fresh inflow
6 Mr. Jobair Hasan Chowdhury and Ms. Tasneem Ahmed, Bangladesh Two Bangladesh nationals propose to set up a bakery company. 0.50
7 M/s Green Destinations Holdings, Mauritius NR to NR transfer of shares before the expiry of lock-in period. Nil
8 M/s Mantri Technology Constellations Pvt. Ltd., Bangalore Relaxation in the lock in period is requested for NR to NR transfer among group companies of the FCDs in an Indian construction company Nil
9 M/s Bay Capital Investment Ltd, Mauritius Acquisition of shares in a listed Indian Company which is the Core Investment Company of a leading infrastructure developing group of companies. 100.00
10 M/s Viacom 18 Media Pvt. Ltd. Deletion of one the conditions in its FIPB approval given to M/s Viacom 18 is engaged in the activities of broadcasting non-news and non-current affairs television channels. Nil
11 M/s GPX India Private Limited, Maharashtra Guidance on compounding with regard to issue equity shares to the Foreign Collaborator against import of capital goods/ equipment/ machinery. No fresh inflow
12 M/s Univan Ship Management India Pvt. Ltd., Mumbai Issue of equity shares against transfer of immovable assets of the Indian Liaison Office in India. Nil
2. The following 4 (Four) proposals have been deferred:
Sl. No. Name of the applicant Particulars of the proposal
1 M/s GETCO Asia Pte. Ltd., Singapore To set up a downstream wholly owned subsidiary of its Indian WOS primarily to engage in commodity broking.
2 M/s P5 Asia Holding Investments (Mauritius) Limited, Mauritius The applicant, a NR entity proposes to purchase 50% of the shares in an existing broadcasting company with 100% FDI, from another existing NR investor.
3 M/s Veriant Systems (India) Pvt. Ltd. To undertake cash and carry wholesale trading and export trading in respect of only Enterprise Intelligence Systems (EIS) and Video Intelligence Systems (VIS) products related to telecom and defence, without any condition of seeking prior approval before making every sale.
4 M/s Gastaad Hotels Pvt. Ltd. Post facto approval for issue of partly paid up shares to the foreign investor.
3. The following 4 (Four) proposals have been rejected:
Sl. No. Name of the applicant Particulars of the proposal
1 M/s Astonfield Renewables Pvt. Ltd. A consultancy company is seeking post facto approval for downstream investments for which approval was required at the material time.
2 M/s Barefoot Resorts & Leisure India Pvt. Ltd., Chennai Post facto approval for issuance of partly paid up shares to carry out the business of leisure tourist resorts both on wholesome basis and on time share basis.
3 M/s Veritas (India) Limited Post facto approval has been sought for the issue of warrants. The company is engaged in the business of import, export, trading and distribution of metals and chemical products, power generation.
4 M/s Security International Services India Pvt. Ltd., Delhi A Security Services Company to give 49% ownership to a foreign company, by a way of fresh issue of shares
4. The following 1 (One) proposal has been withdrawn from the agenda:
Sl. No. Name of the applicant Particulars of the proposal
1 M/s CGP India Investments Ltd. To increase foreign equity participation from 64.38% to 100% in an Indian company engaged in the telecom sector.
5. The following 1 (One) proposal has been withdrawn by the applicant:
Sl. No. Name of the applicant Particulars of the proposal
1 M/s UMB Medica India Pvt. Ltd. To change its control and ownership by transfer of shares from NR to NR.
6. Decision in the following 1 (One) proposal has been kept in abeyance:
Sl. No. Name of the applicant Particulars of the proposal FDI/NRI inflows (` In crore)
1 M/s Holcim (India) Pvt. Ltd. Acquisition of shares and subsequent reverse merger. Nil
Manufacturing PMI rises in Nov
First expansion since July; index rises the most since Feb
New Delhi: After contracting for three consecutive months, manufacturing activity saw an eight-month high expansion in November on rising domestic orders, according to the widely-tracked HSBC Purchasing Managers’ Index (PMI).
The HSBC PMI for manufacturing stood at 51.3 points in November, up from 49.6 points in October this year. A reading below 50 indicates contraction, while one above it shows expansion.
The PMI number came a few days after official figures showed that the gross domestic product (GDP) growth remained at sub-five per cent for the fourth quarter in a row during Q2 of 2013-14, indicating an uptick in factory production which may raise economic expansion as well. This would give some respite to the government, which is hopeful of a recovery during the second half of the current financial year, after economic growth stood at just 4.6 per cent in the first half. A debate is currently on whether the economy would grow over five per cent in 2013-14 or below it. The government hoped the economy would indeed clock an above-five per cent growth, while independent economists remained doubtful.
The economy, saw some push as it grew 4.8 per cent in September quarter from 4.4 per cent in the July quarter, official data had shown on Friday.
“Manufacturing activity picked up led by a rise in new domestic orders, which helped pull up output growth,” said Leif Eskesen, chief economist for India & Asean at HSBC.
According to Markit Economics, the firm which compiles the data, rise in orders led the firms to increase their production levels for the first time since April.
A robust demand resulted in new order growth and, also the rise in new work intakes ended a five-month period of contraction. Exports rose at a marginal and slower rate, suggesting the domestic market was the main source of new order gains, the firm said.
The finding of Markit Economics is a bit contrasting to official numbers, as exports witnessed double digit growth for the fourth month in a row in October. It was rather domestic demand which is inhibiting growth, according to official data. Hit hard by continued high interest rates and inflation, the demand of the consumers in the economy, indicated by private final consumption expenditure, remained low as it grew 2.16 per cent in this period against 1.62 per cent in the previous quarter. Last year, this had risen by 2.54 per cent.
Consumer goods still was the best performer among other sub-sectors, according to PMI survey. On the other hand, official data showed that consumer goods production remained low, as it expanded just 0.6 per cent in October, largely because of contraction by 10.8 per cent in consumer durable segments.
The inflation eased in November. "Input and output price inflation eased, which, if sustained, could imply that the Reserve Bank of India (RBI) is getting closer to the end of its tightening cycle, although it may still need to notch rates up a bit further,” added Eskesen.
It is widely believed that RBI might not ease its monetary stance later this month after consumer price inflation rose to double digits in November after a gap of six months and wholesale price-based inflation rose to 7 per cent in the month from 6.46 per cent in October.
New Delhi: After contracting for three consecutive months, manufacturing activity saw an eight-month high expansion in November on rising domestic orders, according to the widely-tracked HSBC Purchasing Managers’ Index (PMI).
The HSBC PMI for manufacturing stood at 51.3 points in November, up from 49.6 points in October this year. A reading below 50 indicates contraction, while one above it shows expansion.
The PMI number came a few days after official figures showed that the gross domestic product (GDP) growth remained at sub-five per cent for the fourth quarter in a row during Q2 of 2013-14, indicating an uptick in factory production which may raise economic expansion as well. This would give some respite to the government, which is hopeful of a recovery during the second half of the current financial year, after economic growth stood at just 4.6 per cent in the first half. A debate is currently on whether the economy would grow over five per cent in 2013-14 or below it. The government hoped the economy would indeed clock an above-five per cent growth, while independent economists remained doubtful.
The economy, saw some push as it grew 4.8 per cent in September quarter from 4.4 per cent in the July quarter, official data had shown on Friday.
“Manufacturing activity picked up led by a rise in new domestic orders, which helped pull up output growth,” said Leif Eskesen, chief economist for India & Asean at HSBC.
According to Markit Economics, the firm which compiles the data, rise in orders led the firms to increase their production levels for the first time since April.
A robust demand resulted in new order growth and, also the rise in new work intakes ended a five-month period of contraction. Exports rose at a marginal and slower rate, suggesting the domestic market was the main source of new order gains, the firm said.
The finding of Markit Economics is a bit contrasting to official numbers, as exports witnessed double digit growth for the fourth month in a row in October. It was rather domestic demand which is inhibiting growth, according to official data. Hit hard by continued high interest rates and inflation, the demand of the consumers in the economy, indicated by private final consumption expenditure, remained low as it grew 2.16 per cent in this period against 1.62 per cent in the previous quarter. Last year, this had risen by 2.54 per cent.
Consumer goods still was the best performer among other sub-sectors, according to PMI survey. On the other hand, official data showed that consumer goods production remained low, as it expanded just 0.6 per cent in October, largely because of contraction by 10.8 per cent in consumer durable segments.
The inflation eased in November. "Input and output price inflation eased, which, if sustained, could imply that the Reserve Bank of India (RBI) is getting closer to the end of its tightening cycle, although it may still need to notch rates up a bit further,” added Eskesen.
It is widely believed that RBI might not ease its monetary stance later this month after consumer price inflation rose to double digits in November after a gap of six months and wholesale price-based inflation rose to 7 per cent in the month from 6.46 per cent in October.
Monday, December 2, 2013
BSNL launches internet ready 'BharatPhone' for Rs 1,799 and 2 other smartphones
New Delhi: State-run telecom services provider BSNL launched an internet ready phone for Rs 1,799 and a tablet and two smartphones costing between Rs 7,000 and Rs 8,000 in association with Pantel Technologies on Friday.
Termed as BharatPhone, the Rs 1,799 costing dual-SIM handset with a 3-inch display screen will be marketed as a internet-ready feature phone with the ability to access e-governance services like mobile banking, tele-medical care delivery and streaming data delivery. An 1800 mAh Lithium-Ion battery that delivers upto 8 hrs of talk time and 15 days standby time. The handset targeted at rural India will come bundled with 1200 minutes of free talk time split over 12 months.
BSNL CMD, R K Upadhyay said, "Products like the Penta Bharat Phone will now offer the Indian consumer the power of Internet access at an affordable price. Likewise, with the highly affordable 3G Penta Smart device, the PS650, BSNL can now look forward to offering its world-class 3G data services to a wide cross section of Indian society."
The 7-inch tablet costing Rs 6,999 will come with 3 GB of 3G data and 300 minutes of free talk time. The Android tablet offers multiple user-environment on a single tablet PC allowing each user to set his own screen interface and personalized applications.
Like the smartphones, the tablet will have pre-loaded anti-malware pre-loaded and will be available on HomeShop18, the online retail partner
The smartphone range starts from Rs 6,999 with PS501 that comes with 15 GB cloud storage and 4GB of internal storage, 5 megapixel panoramic rear camera, GPS and gesture motion texting.
The second smartphone PS650 costs Rs 7,999 comes with a 6.5 inch screen with a 2500 mAh battery supporting 100 hrs standby time and hosts of applications that ru on Android 4.2.2 Jelly Bean software. Features like gesture typing; speech to text, quick navigation screen, voice based search and Google Now, will be available on this handset.
Termed as BharatPhone, the Rs 1,799 costing dual-SIM handset with a 3-inch display screen will be marketed as a internet-ready feature phone with the ability to access e-governance services like mobile banking, tele-medical care delivery and streaming data delivery. An 1800 mAh Lithium-Ion battery that delivers upto 8 hrs of talk time and 15 days standby time. The handset targeted at rural India will come bundled with 1200 minutes of free talk time split over 12 months.
BSNL CMD, R K Upadhyay said, "Products like the Penta Bharat Phone will now offer the Indian consumer the power of Internet access at an affordable price. Likewise, with the highly affordable 3G Penta Smart device, the PS650, BSNL can now look forward to offering its world-class 3G data services to a wide cross section of Indian society."
The 7-inch tablet costing Rs 6,999 will come with 3 GB of 3G data and 300 minutes of free talk time. The Android tablet offers multiple user-environment on a single tablet PC allowing each user to set his own screen interface and personalized applications.
Like the smartphones, the tablet will have pre-loaded anti-malware pre-loaded and will be available on HomeShop18, the online retail partner
The smartphone range starts from Rs 6,999 with PS501 that comes with 15 GB cloud storage and 4GB of internal storage, 5 megapixel panoramic rear camera, GPS and gesture motion texting.
The second smartphone PS650 costs Rs 7,999 comes with a 6.5 inch screen with a 2500 mAh battery supporting 100 hrs standby time and hosts of applications that ru on Android 4.2.2 Jelly Bean software. Features like gesture typing; speech to text, quick navigation screen, voice based search and Google Now, will be available on this handset.
BHEL commissions first supercritical thermal unit
New Delhi: Heavy machinery major Bharat Heavy Electricals Limited (BHEL) has commissioned first supercritical power generation unit at Barh, near Patna in Bihar. The project belongs to NTPC.
“The set attained full load of 660 MW on November 30,” a statement issued by BHEL said.
The supercritical steam parameters for this project, namely, efficiency and heat rate are better than those of comparable supercritical projects at present under installation by others, the company added.
BHEL had bagged its maiden order for 660 MW sets with supercritical parameters from NTPC through international competitive bidding for this 1,320 MW project.
The scope of work in the contract envisaged design, engineering, manufacture, supply, erection and commissioning of two sets of 660 MW each, along with associated auxiliaries.
“The set attained full load of 660 MW on November 30,” a statement issued by BHEL said.
The supercritical steam parameters for this project, namely, efficiency and heat rate are better than those of comparable supercritical projects at present under installation by others, the company added.
BHEL had bagged its maiden order for 660 MW sets with supercritical parameters from NTPC through international competitive bidding for this 1,320 MW project.
The scope of work in the contract envisaged design, engineering, manufacture, supply, erection and commissioning of two sets of 660 MW each, along with associated auxiliaries.
Saudi firm Sabic opens Rs 624-cr technology centre in Bangalore
Bengaluru: Sabic, a Saudi Arabian company that manufactures fertilisers, polymers and raw materials used in polyester fibres, has opened a technology centre in Bangalore.
The Riyadh-headquartered company has invested $100 million (Rs 624 crore) in the centre and plans to double its headcount in the next few years. The Bangalore development centre currently has around 300 researchers, engineers and other staff. Sabic plans to invest $500 million over five years in India and its China centre, which it plans to open in December.
Chemicals biz
Addressing newspersons, Mohamed Al-Mady, the company’s Vice-Chairman and CEO, said that the centrewould carry out research in next-generation materials across sectors, including construction, clean energy, electrics and electronics, medical devices and transportation.
Sabic’s push into India is in line with its plans to become a global leader in the chemicals business by 2025, a vision outlined by Prince Saud bin Abdullah, its Chairman. The company plans to tap countries such as India to develop technology, applications and solutions to meet the needs of an increasingly sophisticated marketplace and also address sustainability related issues.
The Indian centre will mainly service Sabic’s global clientele, but officials said that they would also look at servicing Indian clientele out of the Bangalore centre.
Talent pool
Janardhanan Ramanujalu, Vice-President, South Asia & Australia, said that as more scientists and researchers are returning to India, the company has access to the right talent pool.
The Riyadh-headquartered company has invested $100 million (Rs 624 crore) in the centre and plans to double its headcount in the next few years. The Bangalore development centre currently has around 300 researchers, engineers and other staff. Sabic plans to invest $500 million over five years in India and its China centre, which it plans to open in December.
Chemicals biz
Addressing newspersons, Mohamed Al-Mady, the company’s Vice-Chairman and CEO, said that the centrewould carry out research in next-generation materials across sectors, including construction, clean energy, electrics and electronics, medical devices and transportation.
Sabic’s push into India is in line with its plans to become a global leader in the chemicals business by 2025, a vision outlined by Prince Saud bin Abdullah, its Chairman. The company plans to tap countries such as India to develop technology, applications and solutions to meet the needs of an increasingly sophisticated marketplace and also address sustainability related issues.
The Indian centre will mainly service Sabic’s global clientele, but officials said that they would also look at servicing Indian clientele out of the Bangalore centre.
Talent pool
Janardhanan Ramanujalu, Vice-President, South Asia & Australia, said that as more scientists and researchers are returning to India, the company has access to the right talent pool.
Saudi firm Sabic opens Rs 624-cr technology centre in Bangalore
Bengaluru: Sabic, a Saudi Arabian company that manufactures fertilisers, polymers and raw materials used in polyester fibres, has opened a technology centre in Bangalore.
The Riyadh-headquartered company has invested $100 million (Rs 624 crore) in the centre and plans to double its headcount in the next few years. The Bangalore development centre currently has around 300 researchers, engineers and other staff. Sabic plans to invest $500 million over five years in India and its China centre, which it plans to open in December.
Chemicals biz
Addressing newspersons, Mohamed Al-Mady, the company’s Vice-Chairman and CEO, said that the centrewould carry out research in next-generation materials across sectors, including construction, clean energy, electrics and electronics, medical devices and transportation.
Sabic’s push into India is in line with its plans to become a global leader in the chemicals business by 2025, a vision outlined by Prince Saud bin Abdullah, its Chairman. The company plans to tap countries such as India to develop technology, applications and solutions to meet the needs of an increasingly sophisticated marketplace and also address sustainability related issues.
The Indian centre will mainly service Sabic’s global clientele, but officials said that they would also look at servicing Indian clientele out of the Bangalore centre.
Talent pool
Janardhanan Ramanujalu, Vice-President, South Asia & Australia, said that as more scientists and researchers are returning to India, the company has access to the right talent pool.
The Riyadh-headquartered company has invested $100 million (Rs 624 crore) in the centre and plans to double its headcount in the next few years. The Bangalore development centre currently has around 300 researchers, engineers and other staff. Sabic plans to invest $500 million over five years in India and its China centre, which it plans to open in December.
Chemicals biz
Addressing newspersons, Mohamed Al-Mady, the company’s Vice-Chairman and CEO, said that the centrewould carry out research in next-generation materials across sectors, including construction, clean energy, electrics and electronics, medical devices and transportation.
Sabic’s push into India is in line with its plans to become a global leader in the chemicals business by 2025, a vision outlined by Prince Saud bin Abdullah, its Chairman. The company plans to tap countries such as India to develop technology, applications and solutions to meet the needs of an increasingly sophisticated marketplace and also address sustainability related issues.
The Indian centre will mainly service Sabic’s global clientele, but officials said that they would also look at servicing Indian clientele out of the Bangalore centre.
Talent pool
Janardhanan Ramanujalu, Vice-President, South Asia & Australia, said that as more scientists and researchers are returning to India, the company has access to the right talent pool.
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