|
|
| |
|
|
Airports
Maytas Infra Consortium Bags Gulbarga and Shimoga Airport Contracts
The Infrastructure Development Department, Government of Karnataka, has selected a consortium of Maytas Infra Ltd, NCC Infrastructure Holdings Ltd (NCC) and VIE India Project Development and Holding LLC (VIE) to develop and operate airport proposed at Gulbarga and Shimoga on BOT basis. The construction period is 24 months from the date of signing the agreement and the Concession Period is 30 years and the Agreement shall at the option of Consortium be extended for a further period of 30 years. |
 |
|
Cement
Lafarge Allowed to Continue Mining Operations
The Supreme Court has allowed Lafarge to continue mining operations, but has asked the French cement giant Lafarge to ensure livelihood and maximum economic development of the people of Mehgalya.
Lafarge had challenged the order of Union Ministry of Environment and Forests issued in May this year asking the company to stop work at quarries on the ground that mining was not permitted in forest areas. The firm also wanted to transport six lakh tonne of limestone, a key input for making cement, from its mines in Meghalaya to its cement plant in Bangladesh. In an interim order, a forest bench headed by chief justice K G Balakrishnan allowed the multinational's plea. |
 |
|
Healthcare
Gifa forms joint venture in India
Groupe Gifa SA, one of Europe's largest manufacturers of ambulances and emergency vehicles, has entered into a joint venture with component manufacturer Castmaster India Pvt. Ltd to make ambulances in India. The joint venture, Castmaster Gifa India Pvt. Ltd, will build a new plant near Manesar in north India that will cater to the increasing demand for ambulances in the country. The joint venture's ambulances will be built around the Winger model produced by Tata Motors Ltd
|
|
Hotels
DLF To Enter Luxury Hotel Segment
DLF, India's largest property developer, is buying a controlling stake in luxury hotel chain Aman Resorts. DLF will pay $200 million to be an equal partner in the company. But, over a period of time, DLF will pay the entire enterprise value of $400 million to acquire the company. Aman Resorts owns and operates 22 luxury hotels in 12 countries.
Under the terms of agreement between DLF and Aman, the properties operated by the latter will continue to use the banner of Aman Resorts -- a name familiar to high-end travellers across the world. DLF's role will be that of a strategic partner that will fund expansion plans based on properties that Aman Resorts identifies.
The deal marks the entry of DLF into the luxury hospitality segment. Delhi-based DLF has also inked a separate JV with the Hilton group to set up business hotels across the country.
|
|
Infrastructure
FinMin notifies norms to avail of IIPDF funds for PPP pre-project initiatives
The Department of Economic Affairs, under the Finance Ministry (FinMin) on December 6 notified guidelines for the India Infrastructure Project Development Fund (IIPDF) scheme to provide financial support to states and Central ministries in preparing project reports under the public-private partnership (PPP) model.
In his last budget, the Finance Minister, Mr P. Chidambaram, had announced the setting up of a revolving fund with a corpus of 20 million euros (Rs 1000 million) to accelerate the PPP projects through the IIPDF.
The IIPDF scheme aims to put in place a mechanism to fund potential PPP projects' development expenses including cost of engaging consultants and transaction advisor, thus increasing the quality and quantity of successful PPPs and allowing informed decision-making by the government based on good quality feasibility reports. The IIPDF scheme will assist projects that closely support the best practices in PPP project identification and preparation.
|
|
Information Technology
Sogeti to Increase Headcount In India
Sogeti, a 100 per cent subsidiary of Paris-based IT firm Capgemini, plans to double its India headcount by 2008. After starting its India operations in March this year with 200 employees, it currently has 500 hands. Currently Sogeti India caters only the global clients. Of the 3,500-4,000 worldwide customers, around 50 are being served from India.
By 2009-2010 Sogeti wants to cater the Indian market as well. The company expects a growth rate of 20-30 per cent once it starts catering to the domestic market. Sogeti will look at all possible ways to grow the domestic market.
|
 |
|
Machine Tools
Jyoti CNC Acquires French Company for Rs 2400 million
Rajkot-based Jyoti CNC Automation, a CNC (computer numeric control) machine tool-maker, has acquired Huron Graffenstaden, a France-based CNC high-precision machine manufacturer in an all-cash deal. The purchase price was arrived at after valuing the company at Rs 2400 million. |
 |
|
Petroleum
Shell to Buy Out Stake
Royal Dutch Shell will buy Bharat Petroleum Corp Limited's(BPCL) 49 percent stake in lubricant marketing firm Bharat Shell Ltd(BSL) for Rs 1524 million. Post acquisition, Shell, which currently has 51 percent stake in BSL and has operational control, would remove the 'Bharat' name from BSL. |
 |
|
Essar to Build New Refinery
Essar has announced plans to build a new 360,000 barrel per day (bpd) refinery next to its existing plant at Vadinar in Gujarat, that would help raise its capacity to 680,000 bpd by 2010.
IOC gets board nod to acquire 5 pc stake in OIL.
State-run Indian Oil Corporation on Friday said it has received the board approval for acquiring a 5 per cent stake in Oil India Ltd (OIL) from the government. IOC would acquire 1,07,00,220 equity shares totalling to 5 per cent of OIL's paid up capital at a price equivalent to its initial public offer's (IPO) issue price. The IPO of OIL is slated for the first quarter of 2008 and it plans to issue 2.64 crore shares of par value of Rs 10 each to the public. Out of this, 24.04 lakh shares will be given to its employees. |
 |
|
Power
Rel Power Gets LoI for Krishnapatnam Power Project
Reliance Power has been awarded the letter-of-intent (LoI) for the 4,000 MW Krishnapatnam ultra mega power project (UMPP) in Andhra Pradesh, which it had won by bidding to supply power at Rs 2.33 per unit. The first unit of the 5x800 MW Krishnapatnam project would be commissioned within 68 months from the date of transfer of Coastal Andhra Power (CAPL)- the shell company formed by the Power Finance Corporation (PFC) to pilot the project - to Reliance Power. CAPL is likely to be transferred to Reliance Power on January 30, 2008.
This is the second ultra mega power project of 4,000 MW for Reliance Power - an Anil Dhirubhai Ambani group company - which is also constructing the pithead coal based Sasan ultra mega power plant in Madhya Pradesh. |
 |
|
Retail
The world's second largest retailer, Carrefour, plans to enter the Indian retail market via the franchisee route, with its hypermarket format in mid-2009. The first such store would come up in northern India, with an average sales area of 50,000 square feet. Carrefour is talking to three Indian corporate houses for the franchisee agreement, and expects to finalise it by the first quarter of next year.
Apart from front-end franchisee stores, the French retailer will also be entering the cash and carry, wholesale segment, but unlike the world's largest retailer, Wal-Mart, which tied up with Bharti Retail, it will not tie-up with an Indian corporate for this format since, Clec'h said, 100% FDI was allowed in this segment. |
 |
|
Roads
Government approves Highway project
The Cabinet Committee on Economic Affairs (CCEA) has approved the phase VII of the National Highways Development Project (NHDP), with an estimated investment of Euro 3136 million euros (Rs 166800 million) . The project, which entails construction of ring roads, bypasses (including improvement of national highways), grade separated intersections, flyovers, elevated roads, tunnels, road overbridges, underpasses and service roads would see a government funding to 1260 million euros ( Rs 63020 million ). The remaining 1876 million euros (Rs 103780 million) will be raised from the private sector. The works of the standalone ring roads and bypasses are likely to be awarded by March 2011 and expected to be completed by December 2014, the government said in a statement.
|
|
|
|
