GM may set up engine manufacturing facility in India
Talegaon (Maharashtra): General Motors is considering setting up an engine and power-train making facility in India with an investment of up to $400million. The company will take a decision on the matter in the next six months said D Nick Reilly, GM's Group vice president.

He declined to divulge the actual investment figure for the proposed plant and said it would be made according to the requirement. He also declined to reveal the location where the company would put up the plant.

The Talegaon facility, set up at an investment of $300 million, would manufacture a Chevrolet mini-car, primarily for the domestic market, from the last quarter of 2008. The company's aim in setting up the engine and power-train facility, including manufacturing and assembling, is to increas local content as much as possible, he added.

The Talegaon facility would have an initial annual production capacity of 1.4 lakh vehicles, "Chevrolet Spark", per year. However, the company intended to increase the capacity later on depending on requirements.
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Rel Energy bags contract to build Rs2000 crore pvt power grid
New Delhi: Reliance Energy (REL) has outbid companies like Tata Power and GMR, to emerge as the top contender for building India's first fully independent private power transmission lines at a cost of about Rs1,800-2,000 crore.

Reliance Energy was the lowest bidder for the two tenders invited by state-run Power Grid Corporation of India for constructing the grid lines linked with Western Region Strengthening Scheme in Gujarat and Maharashtra.

Tata Power, Larsen and Toubro, GMR group, China Light and Power-Gammon India, Lanco-Deepak Cables, and two Spain-based consortia, including Inabensa-Abengoa, were the other companies in race for the two projects.

The two projects are part of PGCIL's Rs5,000 crore western grid scheme, which ran into dispute last year when REL approached CERC for a licence to set up the lines on its own.

When executed, these would be India's first transmission lines built fully by private players.
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SAIL to invest Rs5000 crore to increase production
Kolkata: Steelmaking PSU Steel Authority of India (SAIL) will invest between Rs4,000 crore and Rs5,000 crore to increase production from existing mines through pelletisation of lumps and opening up new mines and blocks.

SAIL has also engaged Mecon to prepare a detailed project report (DPR) for Chiria mines and would engage an international consultant to study the DPR once completed.

Currently, SAIL produces 70 per cent iron ore fines and 30 per cent lumps. To increase production, the company will float tenders for technology support in converting 50 per cent of the lumps into pellets from where further extraction of fines is possible.

At Bolani mines, production is expected to increase to five million tonne per annum (mntpa) by 2012 from the present three million tonne. Production at Barsua mines will also increase to 4.25 mntpa per annum from two million tonne at present.

The Gua ore mines would also get an additional two million tonnes of pellets that will be used for extracting fines.

SAIL is contemplating setting up pelletisation plant centrally at either Kiriburu iron ore mines, Meghahatburu or Bolani.
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Reliance Retail in alliance talks with Sanyo
Mumbai: Reliance Retail, headed by Mukesh Ambani, may soon sign a marketing agreement with leading Japanese consumer durables maker Sanyo.

Tomoyo Nonaka, Sanyo executive director and chairman recently met top Reliance Retail officials to discuss a tie-up wherein Reliance Retail would sell Sanyo's air conditioning products and other consumer electronic goods.

Reliance Industries is shortly expected to open multi-brand outlets and large format stores.
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Birla Sun Life, Idea Cellular plan strategic alliance
Leading private life insurer Birla Sun Life Insurance, and Idea Cellular, a leading cellular operator have entered into a strategic alliance, which encompasses various multiple joint activities, and promotions to provide value added services to their individual customer bases. Innovation & value added services are the key drivers for the strategic alliance.

The companies have begun by launching a Group Term Insurance Cover. According to the concept pre and post paid subscribers between 18-35 years of age will get life insurance at the click of a button. To avail of the insurance subscribers have to download a dialer tone from a choice of tones specially created for the alliance. With the download, and after providing certain basic details over SMS, customers will receive a free life insurance cover for a period of one year.
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Idea to enter Mumbai, Bihar circles by early 2007
Hyderabad: Idea Cellular is planning to start operations in the Mumbai and Bihar circles by early 2007.

With these two circles, the company will be able to cover almost 70 per cent of the country.

Idea's entry into the Mumbai circle was delayed as its erstwhile joint venture partner, Tata Teleservices, was already present there. Last month, the company entered three new circles, Himachal Pradesh, Rajasthan and Eastern Uttar Pradesh, to take the total number of Idea Cellular subscribers in 11 circles up to 12 million, from 11.5 million now.
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Kingfisher in $500mn deal with Pratt and Whitney
Washington: Kingfisher Airlines' new fleet of Airbus aircraft will powered by Pratt and Whitney engines according to the new $500 mn deal signed between Kingfisher and the US aircraft engine manufacturer. The agreement was signed at a ceremony on Monday at the US Department of Commerce witnessed by the Commerce Secretary Carlos Gutierrez and the Deputy Chief of the Indian Embassy Raminder Singh Jassal.

According to Vijay Mallya chairman of Kingfisher Aitlines, Pratt and Whitney was selected to power Kingfisher's fleet of A 320s/ A 319s, ATR 72s and A 300s "because of their ability to support our airline's vision to consistently deliver a safe, value based and enjoyable travel experience to all our guests" he s aid. The deal will include ten PW 4000-100 installed engines, one spare and an optional for an additional ten engines. Pratt and Whitney will also have a long-term fleet management programme to overhaul Kingfisher's PW 4000 engines.

The total transaction is valued at $300 million plus an additional $200 million if all options are exercised.
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TataSky, Sun told to iron out differences
New Delhi: Broadcast tribunal TDSAT has directed DTH operator TataSky and south India-based broadcaster Sun Group to resolve differences through talks.

TDSAT has also directed the Sun Group to file its reply within a week and later TataSky to file a rejoinder. TataSky had filed a petition before the tribunal, accusing Sun of not sharing signals of channels offered by the group's network on its DTH platform. Meanwhile, TataSky and Sun TV differed with each other on the numbers of channels of the Sun group during the proceeding.

As per the TDSAT ruling in July, a broadcaster has to give its channels to DTH operators at half the price charged from cable operators. TataSky said it had written 14 letters in last 10 months to Sun Group for beaming its channels on TataSky platform, but it refused to do so.
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