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Sona
Koyo bags GM order for steering systems
New Delhi: Sona Koyo Steering Systems has received
an order from General Motors India to supply steering
systems for a new car model. The Indian company will supply
50,000 units starting 2007 for General Motors' new model
codenamed D200 the company said.
This
is the first time the company has received an order from
General Motors. Sona Koyo is negotiating for more orders
from Renault SA and other carmakers setting up Indian
factories.
The
company is focusing aggressively on the export markets
as well, and expects 20 per cent of sales to come from
overseas markets next year, up from about 13 per cent
this year. By 2010, the company expects exports to comprise
about 45 per cent of sales.
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IVRCL
receives Rs.199 crore of orders
Hyderabad: IVRCL Infrastructures & Projects
has received orders worth Rs199 crore.
The
company said it has received a Rs44.25-crore order for
river water intake pumping and piping system for the O.P.
Jindal Super Thermal Power Plant at Tamnar, Raigarh District,
Chattisgarh. Jindal Super Thermal Power Plant awarded
the contract.
The
Rail Vikas Nigam has also given a contract for supply
and installation of roadbed facilities, bridges, track
signalling and general electric works in connection with
the doubling of Mohol Solapur B.G. Line (33.16 km) on
the Chennai-Mumbai trunk route of Maharashtra State at
a cost of Rs51.19-crore.
Gujarat
Water Infrastructure has given an EPC contract for a pumped
water supply scheme from NMC-Halol-Narulcota and Champaner-Ghogamba
at Rs35.16-crore.
The
contract from Kerala Water Authority was for augmentation
of a water supply scheme to Trippunithura Municipality
and adjoining panchayats in Kerala at a cost of Rs23.69-crore.
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Mangalam
Timber to wipe out losses by 2006
Kolkata:
B.K. Birla group company, Mangalam Timber Products,
hopes to wipe out its accumulated losses by the end of
the current financial year, 2005-06, or latest by the
middle of next year.
The
company has succeeded in reducing its accumulated losses
to around Rs5.5 crore from Rs32 crore.
Mangalam
Timber has also de-registered from BIFR where it was referred
to in 1998.
In
2004-05, Mangalam Timber recorded its highest-ever turnover
of Rs62 crore and net profit of Rs2.88 crore.
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Asian
Paints to hike paint prices
New Delhi: Asian Paints is planning to hike the
prices of some of its decorative products. The company
cites rising input costs in the last quarter of the year
and says that by December it would hike prices of some
of the decorative products by 0.5 per cent.
The
company is looking for acquisitions in the Middle East
and South East Asia, according to Jalal Dhani, president
Asian Paints international business unit, speaking on
the sidelines of the India Economic Summit.
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Ambuja
Cement Eastern to set up new cement plant
Kolkata:
Ambuja Cement Eastern (ACEL), subsidiary of Swiss
cement company Holcim, is setting up a one million tpa
green-field plant in the State at an investment of Rs115
crore.
The
new plant would come up at Farakka in Murshidabad district
and would utilise fly ash from NTPC's super thermal power
plant located there. ACEL had already set up a one million
tonne plant at Sankrail in Howrah district. Construction
of the green-field plant would commence sometime in December,
while the unit is expected to come on stream during the
middle of 2006.
ACEL
is targeting the markets of north Bengal and North Eastern
region for which supplies would be made available from
the Farakka plant.
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Madhucon
Projects bags Rs.83.87 crore project from MPRDCL
Mumbai:
Construction company, Madhucon Projects, has bagged
a Rs83.87 crore state highway project from Madhya Pradesh
Road Development Corporation Ltd (MPRDCL).
The
contract is for development of State highways in Madhya
Pradesh for SH-23 between Guna - Fatehgarh and SH-14 between
Bioara - Maksudangarh - Sironj, the company informed the
Bombay Stock Exchange.
Asian
Development Bank funds the project, it added.
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Mitsubishi
Corp. considering investments in infrastructure sector
New
Delhi: The Mitsubishi Corporation of Japan is considering
making investments in the Indian infrastructure sector
including power, ports and airports as it feels that the
sector has tremendous potential.
The
company is waiting for the policies regarding public-private
partnerships to become clearer.
According
to the company the risk-sharing clause in any PPP project
was not very clear and as the company is interested in
investing in power sector, it is apprehensive regarding
the tariff structure and subsidies.
The
company also feels that free power to farmers and the
tariff structure needs to be revised to attract foreign
investment.
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ICSA
receives Rs.6.36 crore contract from Eastern Power Distribution
Mumbai:
ICSA India an embedded technology solution provider in
the power sector has bagged a Rs6.36 crore contract from
Eastern Power Distribution Company of Andhra Pradesh (EPDCAPL),
Visakhapatnam.
The
contract is for establishing intelligent automatic meter
readers (IAMR) of feeder meters and HT consumer meters
in five districts of Andra Pradesh, the Hyderabad based
company informed the Bombay Stock Exchange.
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Jubilant
Organosys eyes acquisitions in China
New Delhi: Jubilant Organosys is looking at acquiring
a manufacturing unit in China and is also looking to acquire
big companies, of more US$20mn in the international and
domestic market.
The
company says the acquisitions would be mainly for custom
manufacturing and dosages both in the international and
domestic markets. The company may look for equity participation
from partners, which would depend on the size of the requirement.
The
company's main areas of clinical trials are oncology,
dermatology and central nervous system.
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Nicholas
Piramal looks at acquisitions in UK, N. America
New Delhi: Pharma company, Nicholas Piramal India,
is looking for acquisitions in the United Kingdom and
North America to expand its overseas operation.
The
company has clarified that it is not looking for acquisitions
in order to make generic copies of patent drugs but is
interested in process development and manufacturing new
molecules through the acquisitions.
The
company is also in discussion with Swiss pharma company
Roche for the production of Tamiflu drugs though the talks
are at preliminary stage.
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Vestas
eyes Rs.4,000 crore turnover
New Delhi: Chennai based wind energy generating
company Vestas RRB India, plans to invest Rs100 crore
over the next two years in India to expand its manufacturing
facilities in a bid to become the largest wind energy
company in the country with a turnover of Rs4,000 crore
by 2008.
The
company says its turnover is growing at about 100 per
cent annually and is looking to cross Rs1,000 crore from
Rs550 crore in 2004-05. It has a solid outstanding order
book and due to the great potential existing in the wind
energy sector it feels it would continue to grow during
the next two years.
The
company's turnover is expected to rise to Rs2,000 crore
in 2006-07 and to Rs4,000 crore a year later, making it
the largest Indian wind-energy company.
Vestas
currently is the second largest company in terms of turnover
after the recently listed Suzlon Energy and is registering
nearly 100 per cent annual growth over the past 2-3 years
just like its Pune-based competitor.
Vestas
has a market share of about 25 per cent in the domestic
market at present, has orders in hand to install 200 MW
in this fiscal. At Rs5 crore per MW, this translates to
Rs1,000 crore of income. The orders are expected to double
to 400 MW next fiscal and to 800 MW in 2007-08, the company
said.
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Satyam
to open School of Leadership
Mumbai: Satyam Computers is setting up a "Satyam
School of Leadership" (SSL), a corporate university,
to develop and nurture leaders to accelerate the company's
growth.
The
company has appointed international leadership expert,
Ed Cohen as the senior vice-president of the corporate
university.
The
strategic intent behind the evolution of the Satyam School
of Leadership is to create an establishment that engenders
full life cycle (FLC) leadership capabilities, i.e., leaders
who can provide integrated state-of-the-art business solutions
to their stakeholders.
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Taiwanese
handset major to set up shop in India
New Delhi: With Finnish company Nokia announcing
plans to set up a manufacturing base for India, a Taiwanese
company is reportedly in talks with the Government to
set up a manufacturing base in the country.
The
Department of Industrial Policy and Promotion officials
confirmed that a Taiwan-based handset manufacturer, with
large investment in China, is looking at Tamil Nadu to
set up a manufacturing base and would invest a couple
of billion dollars in phases.
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IOC
wants restriction on sale of PDS kerosene
New Delhi: Indian Oil Corp. wants to limit the
sale of subsidised kerosene through the public distribution
system to people living below the poverty line and ration
card holders in order to prevent its diversion for adulteration
of auto fuels.
IOC
blames the difference between the price of subsidised
kerosene and petrol and diesel as the main reason for
thriving adulteration business.
IOC
sales officer Manunath was killed by a petrol pump owner
in Lakhimpur Kheri in Uttar Pradesh after he detected
adulteration.
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Fortis
Healthcare looks to set up 25 hospitals in three years
New Delhi: Ranbaxy promoted Fortis Healthcare
said it plans to set up 25 hospitals across the country
in the next three years and is looking into the possibility
of tapping the capital markets for expansion. At present,
Fortis has ten operating hospitals and six in various
stages of development in north India.
The
company is working on a model to have general hospitals
with one or two specialities, the company said, adding
that the expansion would follow this path only.
The
company has hired Mckinsey & Co to assess its financial
requirements. After completion of study, it would decide
on the future course of action regarding the public offer.
The company does not rule out some more acquisitions in
the region.
Fortis
recently acquired the Escorts Heart Institute and Research
Centre from Rajan Nanda's Escorts.
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Roaming
may be made mandatory
New Delhi: According to suggestions made in the
draft National Telecom Policy 2005, roaming will be made
mandatory subject to commercial terms and agreements between
the operators.
At
present, only PSU telecom operators BSNL and MTNL roam
into each others network and consumers are given free
of cost roaming services (only PSTN chargeable). They
do not have any agreement with private players like Bharti,
Hutch, Reliance Infocomm and Tatas for roaming.
BSNL
officials consider the exclusivity of roaming among the
PSUs a 'Unique Selling Proposition' and BSNL has roaming
agreements with most of global telecom operators.
But
for all calls from roaming subscriber, the access deficit
amount is to be collected by the visited network operator
and paid to BSNL, according to a TRAI directive.
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Wind
energy major Iberdrola eyes India
New Delhi: World leaders in wind energy generation
and a key player in renewable energy sector, Iberdrola,
Spain has said it is looking for strategic partners to
enter the sector in India.
Iberdrola
has wide international experience and has developed projects
with international institutions in projects related to
renewable energy for clients such as the European Commission,
World Bank, InterAmerican Development Bank, in almost
every continent.
As
for its Asia plans, the renewable energy major visited
China and was very close to finalising good collaborative
projects.
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