Air India objects to Airbus "misinformation" campaign
New Delhi: Air India has taken strong exception to the "misinformation" campaign launched by the Airbus Industry, and has asked the govt. to contemplate strong action against the manufacturer. Airbus officials had issued strong statements after the European consortium lost the over $6.5 billion contract to its arch rival Boeing Aircraft Company for the supply of fifty medium and long range capacity jets to the airline.

Air India is understood to have stated in a letter to the Civil Aviation Ministry that it took strong exception to the misinformation campaign by Airbus on the bidding process followed by the airline Board of Directors and has termed it as "mischievous and misleading".

The airline board had decided to go in for fifty Boeing aircraft comprising B-777s and 787s Dreamliner.

AI is understood to have urged the government to object to the "irresponsible" manner in which Airbus officials made the statements, even questioning the integrity of the airline as well as that of the Board.

Asking Airbus to stop making further comments, the AI is reported to have asked the government to take up with the French government the statement made by "the high official of Airbus or the manufacturer should face the threat of any action that the government may contemplate".
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First phase of Mumbai High production enhancement project completed
New Delhi: The first phase of the nine-well platform project of ONGC's Mumbai High assets has been completed successfully, according to a company communiqué.

This is a part of the ONGC's redevelopment plan - to enhance production - from the Mumbai High (South) field of ONGC. The project, to be completed in two phases, was awarded to Larsen & Toubro on February 20, 2004 at a total cost of Rs1,006.50 crore.
Under phase II, four well platforms - RS4 (6 slots), RS5 (9 slots), RS7 (9 slots) and RS8 (6 slots) - will be installed and the project is expected to be completed by February 28, 2006.
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TVS to launch more StaR variants
Chennai: The TVS Motor Company will be coming out two or more variants of TVS StaR, depending on the success of its second variant TVS StaR Deluxe.

The company introduced the Deluxe variant following the success of its TVS StaR, an entry level 100 CC 4-stroke motorcycle. The TVS StaR Deluxe is targeted at the urban and semi urban customers.

Company officials said that the Tamil film actor Surya had been hired as the brand ambassador.
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Madhucon in JVs with Malaysian and Chinese companies
Hyderabad: Madhucon Projects has entered into joint ventures with the Malaysia-based Binapuri Holdings Bhd and the China-based Sino Hydro Corporation for highway and irrigation projects.
In the last five months, the company has received orders worth over Rs2,500 crore in the areas of irrigation, national highways, flyovers, build-operate-transfer (BOT) projects and residential and commercial ventures.

The company said the work on all the recently awarded projects would commence from the first quarter of the current fiscal. The financial closure of its recently awarded national highway BOT project (worth Rs250 crore) is currently at an advanced stage. Stating that project works of residential and commercial ventures would commence during the second quarter of the current fiscal, the company has projected a turnover of over Rs650 crore for the current fiscal.
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Corporate Results: BHEL

BHEL's Q4 net zooms 34 per cent
New Delhi: Power equipment major Bharat Heavy Electricals Ltd (BHEL) has reported a 34.33 percent rise in net profit at Rs584.63 crore during the fourth quarter of 2004-05, which is up from Rs435.19 crore in the corresponding quarter of the previous fiscal.

Income from operations of stood at Rs4,967.08 crore during January-March, 2004-05, against Rs3,968.56 crore during the fourth quarter of the previous fiscal, up 25.16 percent.

The company has registered a 52.51 percent jump in net profit at Rs1,003.75 crore last fiscal against Rs658.15 crore during 2003-04.

It earned Rs10,686.07 crore as income from operations during 2004-05 against Rs8,771.51 crore during the previous fiscal, a rise of 21.82 percent.

The company's earning per share improved to Rs23.89 during Q4 last fiscal against Rs17.78 during January-March, 2003-04.
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