India Business Insight articles from May 2010, page 8

India Business Insight archives from May 2010

SPANCO TELESYSTEMS MAY BAG Rs300-CRORE PUNJAB SEB CONTRACT (emerged as the lowest bidder among nine shortlisted vendors).
May 31, 2010... Among nine shortlisted vendors, Spanco Telesystems has emerged as the lowest bidder for the Punjab State Electricity Board's (SEB) IT implementation tender and is likely to be awarded the contract soon. The contract is worth Rs250-300 crore....

16-DIGIT AADHAAR TO HAVE FOUR HIDDEN NUMBERS (these four digits will be a post-fix for the 12-digit number for pin-based identification).
May 31, 2010... Aadhaar will have an additional four digits that will be hidden from the common man. Aadhaar is the 12-digit unique identification (UID) number that will identify the 1.2 billion residents of the country on the basis of their biometrics. ...

UID RENAMED AADHAAR, GETS NEW LOGO (UIDAI plans to complete field testing on enrolment and biometric processes by mid-Jul 2010).
May 31, 2010... The Unique Identification (UID) project has been renamed as Aadhaar. The UID Authority of India (UIDAI) has also unveiled a new logo for the project. UIDAI aims to give the 1.2 billion residents of the country a unique 12-digit identification...

INCOME TAX DEPARTMENT AND UIDAI TEAM UP FOR PAN CARDS (with unique 16-digit Aadhaar number).
May 31, 2010... The Income Tax (I-T) department and the Unique Identification Authority of India (UIAID) have agreed in-principle to join hands for rolling out Permanent Account Number (PAN) cards with a unique 16-digit Aadhaar number. The I-T department was...

KERALA TO APPOINT CONSULTANTS FOR PHASE II DEVELOPMENT OF INFO PARK (the second phase development of Kochi Info Park will generate 1,40,000 jobs).
May 31, 2010... The Government of Kerala is planning to appoint global consultants for the second phase of development of the Rs2,500- crore Kochi Info Park. The Government is taking steps to invite tenders in three months for the appointment of the...

71 MILLION INDIANS CLAIM TO HAVE USED INTERNET IN 2009: REPORT (internet usage also went up by 70% from 9.3 hours per week to 15.7 hours per week).
May 31, 2010... A study titled Internet in India conducted by Internet and Mobile Association of India (IAMAI) and marketing research firm IMRB has revealed that 71 million Indians claim to have used the Internet in 2009. The number of active internet users...

GOVERNMENT'S ADULT EDUCATION GOING ONLINE VIA TCS (under the Saakshar Bharat programme).
May 31, 2010... The Government of India has roped in Tata Consultancy Services (TCS) for online education of illiterate adults. TCS is almost ready with a software that will teach adults (above 15 years of age) through animation, graphics and by downloading...

AXIS IT&T OPENS CHENNAI FACILITY (in Elnet software city).
May 31, 2010... Delhi-based Axis IT&T, a part of the Axis Aerospace and Technologies Group, has set up a facility in Elnet software city in Chennai. The company is a leading provider of advanced solutions in engineering design and development for off...

PUNJAB IDENTIFIES 2,000 ACRES FOR IT (plans to set up IT parks/SEZ projects in Kapurthala, Ropar, Rail Majra, and Sneta).
May 31, 2010... Punjab Infotech, the nodal agency of the Government of Punjab for the promotion of IT industry, has identified 2,000 acres across the state to attract IT investment in Punjab. The Government of Punjab has plans to set up IT parks/Special...

LIC BUYS 6% AT&T STAKE IN TECH MAHINDRA (LIC's stake in Tech Mahindra increases to 12.95%).
May 31, 2010... Life Insurance Corporation of India (LIC) has invested an estimated Rs560 crore to buy 6.02 percent stake in Tech Mahindra from AT&T. With this, LIC's stake in Tech Mahindra has increased to 12.95 percent. AT&T has sold a total of 7.03...

IT SECTOR COMES UNDER ESMA ACT (in Andhra Pradesh).
May 31, 2010... The Government of Andhra Pradesh has issued an order that brings the IT industry under the purview of Essential Services Maintenance Act of 1971 for the first time in India. This fulfils one of the longstanding demands of the software industry...

ARICENT BAGS NEPAL TELECOM DEAL (to provide convergent mediation and interconnect billing solutions for communication services).
May 31, 2010... Nepal Telecom has awarded a three-year systems integration contract to IT company Aricent. Under the contract, Aricent will provide convergent mediation and interconnect billing solutions for communication services. Nepal Telecom provides a...

INFINITE BAGS Rs125-CRORE PROJECT (from Uttarakhand Power Corporation).
May 31, 2010... Uttarakhand Power Corporation has awarded a Rs125-crore IT modernisation project to Bangalore-based Infinite Computer Solutions (India) Ltd. The project is part of the Restructured Accelerated Power Development Reforms Program (R-APDRP). As part...

RELIANCE BIG BUYS 50% IN UK'S GAMES COMPANY CODEMASTERS (Codemasters has revenues of more than $150 million).
May 31, 2010... Reliance Big Entertainment has acquired 50 percent stake in UK's games and publishing company Codemasters for an undisclosed amount. Codemasters has franchises in The Ashes cricket series, Formula 1 and Dirt2 racing games, and military...

COMPETITION TO AFFECT ARPUs IN DTH SPACE (according to a FICCI-KPMG study).
May 31, 2010... Average revenue per user (ARPU) of direct-to-home (DTH) players will remain flat in 2010 due to excessive competition, according to a FICCI-KPMG study. At present, the industry ARPU is Rs150, same as it was in 2009. The DTH market has 22 million...

DOORDARSHAN HEADS TO Rs1,000-CRORE CLUB (revenues increased by 20% to Rs983 crore in 2009-2010).
May 31, 2010... The revenues of Doordarshan (DD) increased by 20 percent to Rs983 crore in 2009-2010. Coupled with the revenues of All India Radio (AIR), Prasar Bharati's overall revenues in 2009-2010 is likely to cross Rs1,250 crore.

DD, AIR TO GO DIGITAL (Government of India to spend Rs1,500 crore in next three years).
May 31, 2010... The Government of India will spend Rs1,500 crore in next three years to turn Doordarshan (DD) and All India Radio (AIR) digital. This move will help DD and AIR to undertake effective use of spectrum and to shut down the broadcast transmission in...

HCL SIGNS 3-YEAR DEAL WITH UK-BASED UTILITY (the size of the deal is estimated to be $30 million).
May 31, 2010... A UK-based utility has awarded a three-year contract to HCL BPO to provide end-to-end business acquisition and support services for its boiler, insulation services and energy saver products business. HCL BPO is the business process...

INFOSYS BAGS THREE-YEAR MICROSOFT OUTSOURCING DEAL (for managing Microsoft's internal IT services at 450 locations in 104 countries).
May 31, 2010... Infosys Technologies has bagged a three-year IT outsourcing deal from Microsoft for managing Microsoft's internal IT services at 450 locations in 104 countries. Infosys will provide Microsoft with IT help desk, desk-side services and...

AEGIS SRINAGAR BPO TO KICK OFF WITH VODAFONE DEAL (Aegis BPO Services Ltd to take care of Vodafone's customer call traffic from Uttar Pradesh east).
May 31, 2010... Vodafone Essar has awarded a contract to Aegis BPO Services Ltd's Srinagar BPO to take care of its customer call traffic from Uttar Pradesh east. The Aegis BPO is now on the lookout for partners so that the unit in Srinagar, the troubled capital...

PATNI SIGNS DEAL WITH US HEALTH INSURANCE COMPANY (Universal American Corp).
May 31, 2010... US health insurance provider Universal American Corp has awarded a multi-million dollar, five-year back-office outsourcing deal to Pune-based Patni Computer Systems Ltd (PCSL). Universal American has been Patni's customer since 2005. PCSL will...

MPHASIS TO ACQUIRE US-BASED FORTIFY FOR $15.5 MILLION (to become the fourth business unit of MphasiS).
May 31, 2010... MphasiS plans to acquire US-based Fortify Infrastructure Services for $15.5 million. Fortify is a Remote IT operations management (ROM) company. At present, MphasiS has three lines of business - business process outsourcing (BPO), infrastructure...

GENPACT NET DIPS 6.3 PC, MAINTAINS GUIDANCE (from $29.9 million during Jan-Mar 2009 to $28.1 million during Jan-Mar 2010).
May 31, 2010... The net income of Genpact, India's largest business process outsourcing (BPO) company, came down by 6.01 percent from $29.9 million (Rs133 crore) during Jan-Mar 2009 to $28.1 million (Rs125 crore) during Jan-Mar 2010. The decline was because of...

CBAY PLANS TO SHIFT HALF OF ITS WORK TO INDIA (in the next two years).
May 31, 2010... CBay Systems is planning to shift close to 50 percent of its work to India in the next two years. CBay is a leading healthcare business process outsourcing (BPO) that services 40 percent of the US hospital market. CBay Systems recently acquired...

INDIA BECOMES 7TH LARGEST SHAREHOLDER IN WB (its voting power in the World Bank has increased to 2.91).
May 31, 2010... India's voting power in the World Bank has increased to 2.91 percent, while China's voting power has gone up to 4.42 percent. With this, India is now the seventh-largest shareholder of the bank. Also, with the increase in voting power of India...

IFCI TO INVEST Rs1,000 CRORE (to set up a base for large and medium industries in the Global Financial District near Devanahalli).
May 31, 2010... Industrial Finance Corporation of India (IFCI) plans to invest Rs1,000 crore to set up a base for large and medium industries in the Global Financial District near Devanahalli. IFCI will set up the facility on 50 acres of land in the 150-acre...

EAST COAST SET TO TIE UP FUNDS (for its 2,640-MW coal-based power plant at Bhavanapadu).
May 31, 2010... East Coast Energy plans to set up a 2,640-megawatt (MW) coal- based power plant at Bhavanapadu. The company has tied up funding for Phase I of the project. The recent private placement from Morgan Stanley and others has helped the company to...

SIEMENS AURANGABAD FACILITY OPERATIONAL (to manufacture locomotives, passenger coaches, electric multiple units and bogies for metro rail projects).
May 31, 2010... Siemens Rolling Stock's greenfield facility for manufacturing railway bogies at Aurangabad in Maharashtra has become operational. The factory will manufacture locomotives, passenger coaches, electric multiple units and bogies for metro rail...

AAI TO REMOVE EXEMPTION OF LANDING FEES (the move will help it to improve its revenues).
May 31, 2010... Till now, airlines were exempt from paying landing fees. But the Airports Authority of India (AAI) is now planning to levy landing fees on aircrafts. This move will help it to improve its revenues even though it will hit a few airlines on select...

STRICTER NORMS FOR HIGHWAY PROJECTS (financial scores of large firms to be in direct proportion to the extent of their equity participation).
May 31, 2010... The Ministry of Road Transport and Highways, Government of India, has tightened the norms for highway projects. Now, the financial scores of large firms will have to be in direct proportion to the extent of their equity participation in the...

NMPT HANDLES STEEL CARGO (recently handled 340 steel coils imported from China).
May 31, 2010... As a part of its effort to handle different kinds of cargo, the New Mangalore Port Trust (NMPT) has started handling steel cargo. The port recently handled 340 steel coils, weighing 10,000 tonnes, imported from China.

NAVAYUGA REPLACES MAYTAS INFRA FOR MACHILIPATNAM PORT PROJECT (will invest Rs1,590 crore in the project in various phases).
May 31, 2010... The Government of Andhra Pradesh has decided to replace Maytas Infra with Navayuga Engineering as lead promoter of the Machilipatnam Port project. The decision would speed up the port project apart from bringing in an investment of Rs1,590 crore...

ESSAR BULK TERMINAL SIGNS DEAL WITH PARADIP PORT (for mechanisation of the Central Quay-III multi-user berth).
May 31, 2010... Essar Bulk Terminal Paradip Ltd (EBTPL) and Paradip Port Trust (PPT) have inked a 10-year license agreement under which the former will implement the project for mechanisation of the Central Quay-III multi-user berth for handling dry and bulk...

MBPT BRACES FOR COMPETITION (plans to create dedicated facilities for containers, dry bulk, pre-shipment storage and related infrastructure).
May 31, 2010... The Mumbai Port Trust (MbPT) is planning to implement a few projects to be a multi-commodity port. With this, MbPT intends to fight the competition posed by Jawaharlal Nehru port and the upcoming Rewas port. The port trust plans to create...

GSPC GAS TO EXPAND GRID (with an investment of Rs400 crore).
May 31, 2010... GSPC Gas Company plans to expand its gas grid with an investment of Rs400 crore. As part of this plan, the company will set up 50 compressed natural gas (CNG) car dispensers, 10 CNG bus dispensers and 100 storage cascades stations for supply of...

NRL TO UPGRADE DIESEL QUALITY VIA PROJECT (to invest Rs435 crore for the upgradation).
May 31, 2010... The Numaligarh Refinery (NRL) plans to invest Rs435 crore to upgrade the quality of diesel that it produces. This move will enable NML to produce Euro-III as well as limited quantities of Euro-IV high-speed diesel (HSD) at 100 percent capacity...

ORISSA TO GET PIPED GAS (PNGRB has identifies nine cities in Orissa for supply of PNG).
May 31, 2010... The Government of Orissa had requested the Government of India to supply piped natural gas (PNG) to various private and industrial locations in the state. The Petroleum and Natural Gas Regulatory Board (PNGRB) has identified nine cities in...

CAIRN BEGINS OIL PROCESSING IN RAJASTHAN (commences operations of the second crude oil processing plant in the Thar desert).
May 31, 2010... Cairn India has commenced operations of the second crude oil processing plant at its Mangala oilfield in the Thar desert of Rajasthan. The Mangala oilfield produces 30,000 barrels of oil per day (bopd) which is processed at Train-1 near...

CERTIFICATION COMPULSORY FOR GAS UTILITIES (otherwise they will be delisted from the approved list of the PNGRB).
May 31, 2010... Companies like Indraprastha Gas and Mahanagar Gas will soon need certification for their city gas projects infrastructure. The Petroleum and Natural Gas Regulatory Board's (PNGRB) rules state that the agencies need to obtain accreditation...

NOKIA SIEMENS INVESTS Rs105 CRORE (at its Oragadam facility for producing 3G equipment).
May 31, 2010... Nokia Siemens plans to start producing 3G equipment at its Oragadam (Chennai) facility with an investment of Rs105 crore over the next two years. The company inaugurated its new 3G manufacturing production line at the Oragadam facility. The...

RUSSIAN FEDERATION TO INVEST IN MTS (to fund the company's plan of expanding its network to the remaining 11 circles in India).
May 31, 2010... The Russian Federation is likely to invest $800 million in MTS India to fund the company's plan of expanding its network to the remaining 11 circles in India for which the company has a licence. The Foreign Investment Promotion Board (FIPB)...

PRATIBHA BAGS CONTRACT (worth Rs157.59 crore in Bihar).
May 31, 2010... Public Health Engineering Department, Patna of the Government of Bihar has awarded a contract to Pratibha Industries for the design and construction of 500 mini water supply schemes. Pratibha Industries will implement the project in a joint...

ORAGADAM INDUSTRIAL ESTATE TO BE EXPANDED (SIPCOT plans to purchase 2,500 acres).
May 31, 2010... The State Industries Promotion Corporation of Tamil Nadu (SIPCOT) plans to expand the Oragadam Industrial Estate. It intends to purchase 2,500 acres - 1,800 acres to the north of the estate and 700 acres to the east of the estate - to set up...

BATHINDA MASTER PLAN APPROVED (to ensure integrated and planned development of the city).
May 31, 2010... The Government of Punjab has given in-principle approval to the master plan of Bathinda, which will ensure integrated and planned development of the city. The master plan is for a total area of 57,198 hectares, of which 58.32 percent has been...

WATER CONSERVATION PROJECT LAUNCHED (in drought-prone Gundarru Basin at Nilayur ).
May 31, 2010... DHAN Foundation, a non-governmental organisation (NGO), will implement a Rs15-crore water conservation project in drought- prone Gundarru Basin at Nilayur. The project is spread across 45,000 hectares and is likely to benefit 20,000 farmers. ...

NPCIL, NTPC INK NUCLEAR DEAL (to form a joint venture for setting up nuclear power projects in the country).
May 31, 2010... Nuclear Power Corporation of India (NPCIL) and NTPC Ltd have inked an agreement to form a joint venture for setting up nuclear power projects in the country. NPCIL will hold 51 percent stake in the joint venture while NTPC will hold the...

LADAKH PROJECT APPROVED (the project is worth Rs473 crore).
May 31, 2010... The Cabinet Committee on Infrastructure (CCI) has approved a project worth Rs473 crore in Ladakh. The project involves setting up of 30 small/micro hydel projects totalling 23.5 megawatts (MW), 300 Solar Photo Voltaic power plants of 5-100...

PROJECT AT PUDUCHERRY (a co-generation power plant on the premises of the Cooperative Sugar Mill at Lingareddipalayam).
May 31, 2010... The Puducherry administration intends to invest Rs135 crore to set up a co-generation power plant on the premises of the Cooperative Sugar Mill at Lingareddipalayam. This plant will use bagasse from the mill as fuel for the proposed plant.

NTPC BEGINS WORKS ON POWER PLANT (to add another 250 MW to the 750-MW Bongaigaon power plant).
May 31, 2010... NTPC Ltd plans to soon commence work on the expansion project of its Bongaigaon power plant in Assam. NTPC will add another 250 megawatts (MW) to the 750-MW Bongaigaon power plant with an investment of Rs1,000 crore. NTPC is planning to increase...

HARYANA TO PRIVATISE T&D (to award the contract to the consortium of Kalpataru Power and Techno Electric and Engineering).
May 31, 2010... The Government of Haryana has decided to award the contract for power transmission in Haryana to the consortium of Kalpataru Power Transmission and Techno Electric and Engineering Co Ltd. This is the first-ever transmission project with a...

ACC COMMISSIONS WIND FARM (near Satara in Maharashtra).
May 31, 2010... ACC has invested Rs13 crore to set up 2.5-megawatt (MW) wind energy farm near Satara in Maharashtra. The wind farm has two 1.5- MW turbines. ACC will supply the power generated by the wind farm through a wheeling arrangement to ACC's Thane...

26 PROPOSALS FOR SIP (worth more than Rs2,29,000 crore).
May 31, 2010... India's Special Incentive Package Scheme (SIPS) has attracted 26 proposals, together worth more than Rs2,29,000 crore. SIPS is aimed at attracting investments in semiconductor fabrication, ecosystem units and solar photovoltaic (PV) projects....

NALCO TO PRODUCE 1,000 MW (by 2016).
May 31, 2010... National Aluminium Company (Nalco) plans to produce at least 1,000 megawatts (MW) by 2016. The company has plans set up stand alone projects in the nuclear, thermal, hydel, wind and solar energy sectors.

CIL TO FINALISE DEALS FOR WASHERIES (with global companies).
May 31, 2010... Coal India (CIL) is planning to set up two washeries as part of its proposed Rs4,000 crore project for reduction in ash content of the domestic fuel. The company plans to sign deals with global companies for setting up the washeries. CIL has...

UP CABINET CLEARS 1,980 MW PROJECT (in Mirchwara village of Lalitpur district).
May 31, 2010... The Council of Ministers of the Government of Uttar Pradesh has approved the setting up a 1,980-megawatt (MW) thermal power plant in Mirchwara village of Lalitpur district. A Bajaj Hindustan led consortium will set up the power plant under a...

POSCO-SAIL PLAN STEEL UNIT IN MAHARASHTRA (with an investment of Rs1,000 crore).
May 31, 2010... Steel Authority of India Ltd (SAIL) and Posco, a South Korean steel producer, are planning to form a joint venture to set up a specialised steel mill in Maharashtra with an investment of Rs1,000 crore. The joint venture is likely to set up the...

BHILAI JAYPEE CEMENT PLANT DOUBTFUL (Government of Chhattisgarh has refused to grant permission to commence production).
May 31, 2010... Bhilai Jaypee Cement Limited, a joint venture of the Jaypee Associates and Steel Authority of India Limited (SAIL), was to set up a cement plant in Durg district of Chhattisgarh. The company completed the construction work six months back but...

SUZLON'S NEW LEED PLATINUM RATED GLOBAL HEADQUARTERS IN PUNE (is touted as one of the largest green building projects in India).
May 31, 2010... Suzlon Energy Ltd's new global headquarters in Pune, One Earth, has got Leadership in Energy and Environment Design (LEED) Platinum rating. Touted as one of the largest green building projects in India, the 41,000-square metre facility can...

JSW STEEL TURNS AROUND - POSTS Rs611 CRORE PROFIT FOR Q4 (against a loss of Rs39.9 crore during Jan-Mar 2009).(Financial report)
May 31, 2010... JSW steel has posted a profit of Rs611 crore during Jan-Mar 2010 (the fourth quarter of 2009-2010) against a loss of Rs39.9 crore during Jan-Mar 2009 (the fourth quarter of 2008-2009). The company's total income grew by 50 percent from...

GUJARAT NRE TO CONSTRUCT A NEW PLANT IN ANDHRA WORTH Rs1,000 CRORE (the coke plant will have a capacity of one million tonnes per annum).
May 31, 2010... Gujarat NRE Coke is planning to invest Rs1,000 crore to set up a coke plant along with a 60-megawatt (MW) captive power plant in Andhra Pradesh. The coke plant will have a capacity of one million tonnes per annum. Work on the project is...

SANY'S AMBITIOUS EXPANSION PLANS FOR THE INDIAN MARKET (to set up a chain of 10 exclusive showrooms in major cities of India).
May 31, 2010... Sany Group is planning to set up a chain of 10 exclusive showrooms in major cities of India. The showrooms will showcase and sell Sany's range of construction and material handling equipment. The company recently inaugurated a manufacturing unit...

PUNJ LLOYD BAGS Rs115 CRORE AIIMS RAIPUR PROJECT (project involves construction of Medical College and Hostel Complex at AIIMS, Raipur).
May 31, 2010... The Ministry of Health and Family Welfare, Government of India, has awarded an order worth Rs115 crore to construction firm Punj Lloyd. The project involves the construction of Medical College and Hostel Complex at AIIMS, Raipur. The company...

GAYATRI PROJECTS TO UNDERTAKE ROAD DEVELOPMENT ORDER WORTH Rs2,200 CRORE (for four-laning of the Hyderabad-Karimnagar-Ramagundam road).
May 31, 2010... Andhra Pradesh Road Development Corporation has awarded an order worth Rs2,200 crore to Hyderabad-based construction firm Gayatri Projects for four-laning of the Hyderabad-Karimnagar-Ramagundam road in Andhra Pradesh. Under the contract, Gayatri...

GPCC TO SET UP GAS BASED POWER PLANT IN GUJARAT (with an investment of Rs2,545 crore).
May 31, 2010... GSPC Pipavav Power Company Limited (GPPC) plans to invest Rs2,545 crore to set up a 1,053-megawatt (MW) gas-based combined cycle power plant project at Pipavav in Gujarat. GPPC is a Special Purpose Vehicle (SPV) set up by Gujarat State Petroleum...

8,000 NEW FLATS TO BE PUT UP FOR DRAW BY DDA COME JUN 2010 (15,000 houses are under construction under a new mega- housing scheme).
May 31, 2010... The Delhi Development Authority (DDA) has announced a new mega- housing scheme under which 15,000 houses are under construction at present. Out of these 15,000 houses, DDA will put up 8,000 flats for a draw in Jun 2010. The projects are...

BIAL GETS ISO 27001 INFORMATION SECURITY (IS) CERTIFICATE (is one of the first airport operators to receive this certification).
May 31, 2010... Bangalore International Airport Limited (BIAL) has received the ISO 27001 certification, becoming one of the first airport operators to receive this certification. This certification is recognized internationally as an Information Security...

RBI TO START AN EXCLUSIVE 'HOUSING START UP INDEX' (to track new residential projects in 31 major cities).
May 31, 2010... The Reserve Bank has initiated an exercise to set up a housing start-up index (HSUI) to track new residential projects in 31 major cities and measure the changes in construction activities. The housing index will give insights into consumer...

REAL ESTATE REGULATOR FOR DELHI SOON (a regulator will help check unfair practices by real estate players).
May 31, 2010... Delhi will have real estate regulator by the end of 2010, according to the Minister for Urban Development, Government of India. The Government of India is also in talks with other states to have similar regulators. The draft bill has been...

L&T WINS $81.6 MILLION UAE PORT POWER PROJECT (from Abu Dhabi Ports Company).
May 31, 2010... Larsen & Toubro (L&T) has won a contract worth $81.6 million (300 million dirhams) from Abu Dhabi Ports Company for some electrical works at the Khalifa Port and Industrial Zone (KPIZ) in Taweelah. The contract involves design,...

BATA INDIA TO DE-RISK IN REAL ESTATE BUSINESS PLANS (reworks joint venture agreement with Calcutta Metropolitan Group).
May 31, 2010... Bata India and the Calcutta Metropolitan Group had formed a joint venture named Riverbank Developers Pvt Ltd (RDPL) in 2005 for developing a project named Bata Nagar in South 24 Parganas, on the outskirts of Kolkata. Bata India has now reworked...

CESC TO REVIVE 600-MW BENGAL POWER PROJECT (will invest Rs3,200 crore in the project).
May 31, 2010... The power sector crisis in West Bengal has prompted CESC Ltd to revive its plans for setting up a 660-megawatt (MW) thermal generation unit at Balagarh in West Bengal. The company will invest Rs3,200 crore in the project, which is likely to...

IVRCL BAGS PROJECTS WORTH Rs832 CRORE (from Water Resources Department, Mumbai; PGCIL; and a thermal power project in Tamil Nadu).
May 31, 2010... IVRCL Infrastructure and Projects has bagged multiple orders worth Rs832.51 crore. The company has received the orders from Water Resources Department, Mumbai; Power Grid Corporation of India Ltd (PGCIL); and a thermal power project in Tamil Nadu.

PRIORITY R&D - BHEL SPENDS RECORD Rs829 CRORE IN FY10 (20% more than in 2008-2009).
May 31, 2010... Bharat Heavy Electricals Ltd (BHEL) has spent a record Rs829 crore for research and development (R&D) during 2009-2010. The company filed 264 patents and copyrights in 2009-2010. The amount invested in R&D in 2009-2010 is 20 percent...

POST GRADUATE DEGREE IN REAL ESTATE VALUATION LAUNCHED (by Annamalai University).
May 31, 2010... Annamalai University has started a post graduate degree course in valuation of real estate. The course will be launched for the academic year 2010-2011. Annamalai University offers the course - M. Sc (Real Estate Valuation) - through distance...

FINLAND TO HELP INDIA ON ROAD PROJECTS (the two countries sign MoC for sharing information and cooperation in building roads and highways).
May 31, 2010... India and Finland have signed a memorandum of cooperation (MoC) for sharing information and cooperation in building roads and highways. For the development of this sector, the two countries plan to attract more investments through the...

RAJASTHAN GOVERNMENT GRANTS OM METALS PROJECT WORTH Rs457 CRORE (for construction of hydro-mechanical works of the Kalisindh Gravity Dam in Jhalawar district).
May 31, 2010... Om Metals Infraprojects Ltd, a hydro-mechanical engineering company, has won a Rs457.2-crore order from the Government of Rajasthan in association with its MoU partner, SPML Infra Ltd. The company will construct hydro-mechanical works of the...

IRB BAGS SIX LANING PROJECT IN KARNATAKA (the project is estimated to cost is Rs1,200 crore).
May 31, 2010... IRB Infrastructure Developers Ltd has bagged a project for six laning of a 114-kilometre section of the Tumkur-Chitradurga on National Highway (NH)-4 in Karnataka under Phase V of the National Highways Development Projects (NHDP) on...

ORISSA TO HAVE 1,320MW POWER PLANT COURTESY JSL (JSL will invest Rs7,375 crore to set up the plant).
May 31, 2010... JSL Limited has inked a memorandum of understanding (MoU) with the Government of Orissa for setting up a 1,320-megawatt (MW) super critical thermal power plant. JSL will invest Rs7,375 crore to set up the plant at Luni in Dhenkanal district. The...

L&T INKS JV WITH HOWDEN TO SET UP MANUFACTURING UNIT IN HAZIRA (for manufacturing axial fans and air pre-heaters).
May 31, 2010... Larsen & Toubro (L&T) and Howden Global have inked a joint venture agreement to design, engineer, manufacture and supply axial fans and air pre-heaters to Indian thermal power plants. The capacities of these products will range from 100...

NEROLAC PAINTS TO INVEST Rs400 CRORE ON CAPEX (for the second phase of capacity expansion at its Hosur plant).
May 31, 2010... Kansai Nerolac Paints, one of the leading paint manufacturers, is planning to invest Rs400 crore for the second phase of capacity expansion at its Hosur plant in Tamil Nadu. The company will invest the money in phases over 20 months. The...

JINDAL STEEL & POWER LOOKING TO ACQUIRE OMAN'S SHADEED IRON (for close to $500 million).
May 31, 2010... Jindal Steel and Power Ltd (JSPL) is planning to acquire Oman- based Shadeed Iron & Steel for close to $500 million. JSPL has already signed a pact with Shadeed and the deal would be funded through a mix of debt and equity. Shadeed Iron...

BABAJOB (has more than 75,000 job seekers and 30,000 employers registered with it).
May 31, 2010... Babajob was founded in late 2007 with the aim of connecting employers and bottom-of-the-pyramid informal sector workers like maids, cooks, drivers and the like. Babajob has more than 75,000 job seekers and 30,000 employers registered with it. ...

DRUVA GETS $5 MILLION FUNDING FROM SEQUOIA (will utilise the funds to finance its expansion in the global markets).
May 31, 2010... Pune-based Druva Software is a provider of data protection and disaster recovery products. The company has received $5 million in funding from Sequoia Capital and Indian Angel Network. Druva will utilise the funds to finance its expansion in...

QUIKR RAISES $6 MILLION FUNDING FROM NVP (as third round of funding in Quikr Mauritius).
May 31, 2010... Quikr has raised $6 million as third round of funding in Quikr Mauritius (a holding company of Quikr India) from Norwest Venture Partners (NVP), Omidyar Network, Matrix Partners India and eBay. With this round of financing, Quikr has raised in...