Tata Coffee to begin retail operations in Russia, CIS, Ukraine
Mumbai: Tata Coffee is planning to start retailing coffee in Russia, Ukraine and countries in the Commonwealth of Independent States (CIS), with its Eight O'Clock coffee brand. The company also plans to launch a new brand in Russia, CIS and Ukraine.

The company says it is currently the second largest wholesale exporter of instant coffee into Russia, Ukraine and CIS countries.

The instant coffee market in the three abovementioned areas is growing at about 10 to 12 per cent each year. Tata Coffee acquired the U.S.-based Eight O'Clock Co. from Gryphon Investors for $220 million in June last year.
Back to News Review index page  

RPG mulls 13,000-cr expansion
Mumbai: RPG Group is planning to invest an estimated Rs 13,000 crore on tyre, retail and power businesses in the next couple of years.

The group's tyre company CEAT tyres, would invest Rs600 crore in setting up a new radial tyre plant to ramp up capacity said company officials. The location of the new plant is yet to be finalized and the project would be financed through a mix of debt and equity.

RPG also has plans to set up a 2000 MW thermal plant which could come up in West Bengal, Jharkhand or Orissa. The plant would be set up within the next three years with a total cost of upto Rs 10,000 crore.

The group has also outlined an investment of Rs1,000 crore on its retail venture Spencer's, he said.

The group's transmission and distribution business, carried out by KEC International has an order book of Rs3,000 crore and has entered developed markets like US where it has entered into a joint venture.
Back to News Review index page  

Nissan, M&M, Renault to set up Rs8000-cr facility in Chennai
Nissan, M&M and Renault plan to set up a facility in Chennai with an investment of about Rs 8000 crore. The plant will have an annual capacity of four lakh units by 2009.

M&M, which will hold 50 pc in the venture, will put in Rs4000 crore, while Nissan and Renault will invest Rs2000 crore each and individually hold 25 pc stake. Sources say the Chennai plant will be used to build derivatives of Renault's Logan. A decision on other models from Nissan's stable will be made later. An announcement by the three companies and the Tamil Nadu government will be made as early as next week.

Nissan separately has an agreement with Maruti to manufacture 50,000 small cars under the Nissan badge, mostly for export to Europe from 2008. Renault and Mahindra also have another joint venture that is scheduled to build the Logan at a factory in Nashik starting this year.
Back to News Review index page  

Anheuser Busch ties up with Crown Beers
Hyderabad: The US-based Anheuser-Busch International, brewer of Budweiser brand, has entered into a joint venture with Crown Beers of Hyderabad to make and market the Budweiser beer brand in India.

A 5, 00,000 hectolitres modern brewery in Hyderabad would be ready for production in March and from May 2007, Budweiser would be available in 330 ml and 650 ml bottles in the country. Trials runs are already underway, according to officials of Crown Beers.

Anheuser-Busch and Crown Beers will enter into 50:50 joint venture which will brew, market and distribute Budweiser and other brands in India. Crown Beers India Ltd will collaborate on all local management, marketing and sales decisions.

An Anheuser-Busch brewmaster will oversee local production of Budweiser at the brewery, to assure the same crisp, distinctive taste enjoyed by consumers around the world. Budweiser is an American lager brewed since 1876 using a blend of US and European hops, and a combination of barley malts and rice, the release added.
Back to News Review index page  

Bharti-Wal-Mart close to deal: Sunil
New Delhi: Bharti Enterprises is said to be close to finalising a deal with US retailer Wal-Mart Stores said Sunil Bharti Mittal, Bharti's chief.

Wal-Mart and Bharti plan a cash-and-carry joint venture. Wal-Mart said on Thursday it was in talks to partner Bharti on the supply chain and providing technology support, but that no specific business announcement would be made during this visit.
Back to News Review index page  

Jaiprakash Hydro ties up with PowerGrid
New Delhi: Jaiprakash Hydro Power (JHPL), a subsidiary of the flagship company of the Jaypee Group, Jaiprakash Associates, has entered into a joint venture with Power Grid Corporation of India Ltd (PGCIL) for setting up the transmission system associated with the 1,000 MW Karcham Wangtoo Hydoelectric Project in Himachal Pradesh. Jaypee Karcham Hydro Corporation Ltd will execute the project.

The joint venture will be called Jaypee Powergrid and JHPL will hold 74 per cent of the equity and the remaining 26 per cent will be held by PGCIL.
Back to News Review index page  

Hutch says Essar has no right of first refusal
Mumbai: Hutchison Telecommunications International (HTIL) has formally refuted the Essar Group's claim of right of first refusal (ROFR) over the former's stake saying that such a clause did not exist in the agreement signed between the two companies.

The Hong Kong-based company has also clarified that Essar's bid for acquiring the 67 per cent stake in Hutch-Essar was not the highest one, nor did the company try to match Vodafone's bid, which put the enterprise value of the company at $18.8 billion.

Essae has claimed that it enjoyed an ROFR that gave it the power to match the highest bid for HTIL's stake.
Back to News Review index page  

UK's Home Retail expands in India, Ireland
London: Home Retail Group Plc, owner of Britain's Argos and Homebase stores, has signed a franchise arrangement to develop its Argos retail format in India and a separate deal to buy a stake in an Irish retailer.

The company is buying a 33 per cent stake in Irish homewares retailer Home Store + More and would invest 7 million pounds ($13.7 million) to expand the out-of-town homewares chain.

Home Retail said its deal with an Indian joint venture owned by Shopper's Stop Ltd and Hypercity Retail India Private Ltd would give Argos an initial foothold in the rapidly growing retail market in India, which has a population of 1.1 billion.

Home Retail said Argos, one of Britain's biggest Internet retailers, will be launched towards the end of the year under the 'HyperCITY-Argos' brand, initially in the Mumbai region, and provide its brand, catalogue and multi-channel expertise.
Back to News Review index page