Maruti targets export of 4 lakh cars by 2010
New Delhi: In an ambitious move, Suzuki Motor Corporation (SMC) has said that it plans to export 4,00,000 cars from India by 2010, a massive upgrade over its current exports of around 50,000 cars.

The Japanese carmaker has also announced additional investments of Rs3,000 crore in India, which shall be over and above the Rs6,000 crore investment that SMC and its subsidiary, Maruti Udyog, have already committed to make in the country till 2010.

SMC chairman Osamu Suzuki said that the company's investments would be geared not only for the Indian market, but also for export.

As for the proposed tie-up with Nissan, Suzuki said details were still being worked out. He indicated that it was possible that an entirely new manufacturing plant might be set up for this tie-up, involving investments of Rs2,500 crore.

SMC's diesel engine facility at Manesar is slated to produce one lakh units initially, which will then be scaled up to three lakh units. The new car plant at Manesar is expected to deliver one lakh units of Swift as well as two lakh units of a new compact car, meant primarily for export to Europe. Of this production, while 50,000 units will be supplied to Nissan, Suzuki will sell the remaining 1.5 lakh.
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Reliance Comm. asks DoT for pan-India GSM spectrum
New Delhi: In a move aimed at providing a nation-wide GSM service platform, Reliance Communications has applied to the department of telecommuications for radio frequencies in the 1800 MHz band which will enable it to operate mobile networks in 14 circles all over the country.

It already operates GSM (900 MHz) mobile services in circles like West Bengal (including Kolkata), Assam, Orissa, Bihar, Madhya Pradesh, Himachal Pradesh, and the north-east. In February, the company had applied for GSM spectrum in markets like Delhi, Mumbai, Chennai, Uttar Pradesh (east and west circles), and Jammu and Kashmir.

On June 14, the DoT had asked the company for a detailed rollout plan for these circles.

By way of response, Reliance Communications on Thursday replied to the DoT, and also sought GSM spectrum in the 1800 MHz band for 14 additional circles. Reliance is the biggest player in the CDMA market in India with a 62 per cent share. Overall, it enjoys 23 per cent share of the mobile market in the country.
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Essel Group steps onto UNI board
New Delhi: The Subhash Chandra-promoted Essel Group, co-owner of DNA newspaper along with the Dainik Bhaskar group, is now one of the shareholders of the news agency United News of India (UNI). UNI has shareholding from about nine big media organizations, who also form the board of the news organisation that was formed in 1961.

Essel Group officials have confirmed the development ,but refused to divulge the quantum of their holding.

The other shareholders and board members of UNI include media outfits like HT Media, Times of India group, Ananda Bazar Patrika and The Hindu. Chandra has used his investment vehicle, Mediawest, to conclude the UNI agreement.

Launched in March 1961, UNI has grown into one of the largest news agencies in Asia. Today, UNI serves more than 1000 subscribers in more than 100 locations in India and abroad. They include newspapers, radio and television networks, web sites , government offices and private and public sector corporations. UNI has collaboration agreements with several foreign news agencies, including Reuters and DPA, whose stories are distributed to media organisations in India.
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ACC to make Rs1100-cr investments in the eastern region
Kolkata: Cement major, ACC Limited, plans to invest more than Rs1100 crore to expand production capacity in the eastern region, according to company officials.

According to its officials, the company planned to increase the production capacity in the east from five million tonnes per annum, to 6.5 million tonnes per annum by 2008, with an investment of more than Rs605 crore. The company would also put up nearly 50 ready-mix concrete (RMC) plants in the region, at an investment of Rs 500 crore.

The company intends to expand capacities at Bargarh in Orissa and Sindri in Jharkhand, while the expansion programme was almost complete at Chhaibasa. Expansion of the ACC plant at Damodar in West Bengal was also under consideration.
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Galvanised steel prices move up by Rs500-1000/tn
Kolkata: Major steel players have announced an increase in galvanised steel prices in the range of Rs500-1,000 per tonne. While JSW Steel and Ispat Industries have hiked galvanised steel prices by Rs500-750 per tonne on the back of rising zinc prices, Uttam Galva has increased prices in the range of Rs500-1,000 per tonne.

Tata Steel, however, has kept prices unchanged, saying that galvanised corrugated sheet prices were reviewed by the company on a quarterly basis.

As per industry sources, zinc prices have increased by almost 10 per cent over the last couple of days, which they claimed has put pressure on the bottomline. Steel makers use 40 kg of zinc for every tonne of galvanised steel.
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GE Shipping to buy Capesize dry bulk carrier
Mumbai: Great Eastern Shipping Company Ltd (GES) has announced that it will buy a 1,64,796 dwt, modern Capesize dry bulk carrier. The 1996 built ship is expected to join the company's fleet during Q4 FY 2006-07.

The decision to induct the said vessel is with the dual objective of building a modern dry bulk tonnage and for participating in the growing opportunities in the dry bulk trade.

The company's current fleet of 73 vessels comprises 39 ships (30 Tankers and 9 Dry bulk carriers) aggregating 2.77 mn. dwt and 34 offshore vessels (2 Exploratory Rigs, 20 Offshore Support Vessels, 11 Harbour Tugs and a Construction Barge).
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Adlabs to acquire Synergy Communications
Mumbai: Film and television production and distribution firm Adlabs Films Ltd has announced that it intends to buy a majority stake in New Delhi-based Synergy Communications Pvt Ltd by way of expanding its television content business.

Synergy is a leading television content provider headed by well-known quiz master Siddhartha Basu and producer of popular quiz shows and programmes including the popular 'Kaun Banega Crorepati?'

'The company has signed a letter of intent to acquire a majority stake in Synergy Communications,' an Adlabs statement here said.

Adlabs hopes to complete the acquisition of Synergy in two months.
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Royal Philips to focus on BRIC countries
Bangalore: Royal Philips Electronics will make an aggressive marketing push in BRIC countries (Brazil, Russia, India and China) through the introduction of next generation products.

Speaking at the tenth anniversary of the Philips Innovation Campus (PIC), chief executive officer of Philips Consumer Electronics, Rudy Provoost, said BRIC countries were the real emerging markets, reflected by their economic boom.

Provoost said that Philips would expand its product portfolio by offering next generation products in flat and LCD televisions, home theatres and other entertainment solutions, apart from medical and healthcare equipment. He also said that the company had prepared a business model that would enable it to make a major foray into rural India, which offered great potential in consumer electronics and healthcare equipment.

Provoost said Philips Electronics banked heavily on the innovation campus here for developing software for various next generation electronic goods the company was planning. The campus, with over 1,700 professionals, would continue to be a major hub of innovation for not just Philips but for other global companies as well.

"PIC has produced four patents last year and 13 so far this year and we are targeting to produce seven more by the year-end. Rightly, we have located our new and ambitious NXP Semiconductors in this campus," he said. Provoost also said the PIC would be strengthened further to ensure that the company's market offerings would be the best.

Philips is the market leader in LCD TVs and DVD products.
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Godrej & Boyce announces unified furniture brand Interio
Mumbai: Godrej & Boyce Manufacturing has announced a new unified brand for its furniture business, Godrej Interio, bringing all three businesses of home and office furniture and special projects lines together under the Interio brand.

The idea behind the new brand was to present one common brand to the consumer to cater to their different needs. "Godrej Interio is an amalgamation of the values of quality and trust of Godrej with a contemporary outlook towards business," Jamshyd Godrej, CMD of Godrej & Boyce Manufacturing, said.

The turnover of the furniture division was Rs600 crore last year and the company is aiming for a 33% growth in business over the next one year. "For 2006-07 we are targetting a turnover of Rs800 crore which we expect to go up to Rs1500 crore by 2010," Godrej said.
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Hindustan Lever sells majority stake in BPO unit to Capgemini
Mumbai: FMCG major, Hindustan Lever Ltd., said on Thursday it would sell 51 per cent in its business process outsourcing services unit Indigo to Capgemini SA for an undisclosed sum. Unilever India Shared Services Ltd.'s Indigo is a fully owned subsidiary of Lever, and provides services to several Unilever companies around the world, Lever said in a statement.

The transaction is expected to be completed in October 2006.

The partnership will enable Indigo to offer services to customers outside the Unilever Group, and enhance Capgemini's network in Poland, China, India, Australia, Canada and the United States, Lever said.

Indigo, which provides financial and accounting services as well as Sarbanes-Oxley compliance services, has centres in the southern Indian cities of Bangalore and Chennai, with about 600 employees.

Capgemini, Europe's largest computer consultancy, has about 6,000 employees in India, Lever said.
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ONGC clears Rs2,305-cr investment for Mumbai offshore fields
New Delhi: The Oil and Natural Gas Corporation (ONGC) board has approved an investment of Rs2,305.30 crore for redevelopment of Heera and South Heera fields at the Mumbai offshore.

In a statement, the oil major has said that the redevelopment would enhance production with improved recovery and redistribution of water injection and pressure maintenance.

The project will also includes development of a marginal field B-134 A through Heera facilities that would not have become viable for exploitation on a stand-alone basis.

The project would involve installation of four new well platforms, 72 km of sub-sea pipelines, drilling of 28 wells through new platforms and six wells from clamp-on in addition to side tracking of 56 wells.

The expenditure on side tracking of wells is estimated to be Rs700 crore. By 2030, the incremental gain is estimated at 10.685 million tonnes of crude oil and 2.265 billion cubic metres of natural gas.
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Progeon renamed as Infosys BPO
Bangalore: After havinmg bought out Citigroup's 23 per cent stake in Progeon for Rs518 crore, Infosys Technologies Ltd has renamed its BPO outfit as Infosys BPO Ltd, effective August 29.

"The new name accurately reflects our heritage and line of business," said Amitabh Chaudhry, CEO and managing director, Infosys BPO Ltd, in a press release. "Our customers, employees, partners, and other stakeholders have always known us to be an integral part of the Infosys group. The new name simply reinforces that message".

Infosys BPO Ltd is a subsidiary of Infosys Technologies Ltd.

Infosys has provided a FY07 revenue guidance of $125 million for its BPO outfit. Progeon reported a net profit of Rs20 crore on revenues of Rs127.8 crore for Q1FY07.
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