The Hindu Business Line : Saturday, October 22, 2005

Kalpataru Power, first Indian co to get carbon credit
KALPATARU Power Transmission Ltd's (KPTL) Rajasthan project, where it generates electricity generation from mustard crop residues, on Friday became the first Indian project and the third project worldwide to which the UN panel issued carbon ... More

Goodyear Tire to invest $18 m in Indian operations
THE US headquartered Goodyear Tire & Rubber Company (GTRC) said on Friday that it would invest $18 million (Rs 80 crore) in its Indian operations in 2006 as part of its second phase of capacity expansion in the country. A statement issued here .. More

Arcelor sets sights on India
ARCELOR, the French steel major that was created in February 2002 by integrating three steel-making companies, Aceralia, Arbed and Usinor, has decided to enter India. According to Mr Alain Davezac, Senior Vice-President, International Business ... More

VST launches Chinese power tillers — Demand for cheaper products on the rise
VST Tillers Tractors Ltd, a leading manufacturer of power tillers, is also getting into import and marketing of tillers from China. At the launch of the imported Dragon power tillers here on Thursday, Mr B. C. S. Iyengar, Vice-President, ... More

Elecon supplies wagon tippler to Chennai port
THE Gujarat-based Elecon Engineering Co Ltd has supplied a rotary wagon tippler with hydraulic clamping device to the Chennai Port Trust, said a company release here. Elecon completed the supply, erection, testing and commissioning of the ... More

NMDC plans interim dividend
HYDERABAD: National Mineral Development Corporation Ltd has informed the stock exchanges that its board would meet on October 25 to consider interim dividend for the year 2005-06. It said November 16 has been fixed as record date for the ... More

OVERSEAS BORROWINGS

Sethusamudram Corpn to raise $100 million — Apart from foreign currency loans, IPO planned
While the Government of India will pump in equity of Rs 495 crore, Shipping Corporation of India and Tuticorin Port will chip in with Rs 50 crore each and the Chennai and Ennore ports will contribute Rs 30 crore each. More

ACCOUNTANCY

Chartered accountants' meet in Thiruvananthapuram
THIRUVANANTHAPURAM: The All-Kerala Chartered Accountants Association and the Thiruvananthapuram branch of the Institute of Chartered Accountants of India are jointly organising a seminar on income-tax and information technology in the city ... More

MANAGEMENT

CII's 4th edition of `Managemantra' to be held in Chennai
THE Confederation of Indian Industry (CII), Southern Region, will hold the 4th edition of its annual event, `Managemantra' on November 4 and 5 in Chennai. "Managemantra" aims to spot and showcase the young managerial talent in the Management ... More

RESTRUCTURING

Reliance group demerger scheme put to vote
THE final results of the voting on the scheme of arrangement between Reliance Industries Ltd (RIL), Reliance Energy Ventures Ltd, Global Fuel Management Services Ltd, Reliance Capital Ventures Ltd and Reliance Communication Ventures Ltd will be ... More

MERGERS & ACQUISITIONS

KRL merger with BPCL awaits Ministry nod
THE formal merger of Kochi Refineries Ltd (KRL) with Bharat Petroleum Corporation Ltd (BPCL) is still awaiting clearance from the Ministry of Company Affairs. After receiving the Cabinet go-ahead for the merger, BPCL had approached the ... More

NEW PROJECTS

JK Ind to invest Rs 120 cr to raise radial tyre capacity
JK Industries has unveiled a new roadmap that includes an investment of Rs 120 crore to increase the production of bus and truck radial tyres to 1.5 million units by 2010. Mr Vikram Malhotra, General Manager (Sales and Marketing), told ... More

Novopan plans new facility in Uttaranchal
HAVING the successful April commissioning of its new plant at Shadnagar here to more than double the capacity, Novopan Industries Ltd (NIL), the pre-laminated particle board manufacturer of the GVK Group, has chalked out further expansion. The ... More

OVERSEAS INVESTMENTS

ONGC eyeing assets in Central Asia
OIL & Natural Gas Corporation on Friday said that it was keen on buying assets in Kazakhstan. The ONGC Chairman, Mr Subir Raha, said: "We are pursuing opportunities overseas. ONGC is keenly interested in Central Asia, especially in Kazakhstan for More

Govt chalking out plan for joint overseas bidding by oil PSUs
WITH energy security becoming the buzzword, the Petroleum Ministry is formulating a strategy to enable domestic public sector oil companies to join hands to compete for buying equity abroad. The Ministry was looking at creating a package that ... More

ALLIANCES & JOINT VENTURES

Kalyani Brakes to form joint venture with Italian Brembo
BOSCH's Indian subsidiary, Kalyani Brakes, and the Italy-based Brembo have signed a 50:50 joint venture agreement for manufacture and sale of braking systems for two-wheelers. A press statement from Bosch said the total investment of the two ... More

SOCIETY & DEVELOPMENT

AIG gesture to quake-hit

SICK UNITS

Delay in FACT revival creates unrest among employees
CONTRARY to the expectations of over 4,000 employees, the revival of the ailing Fertilisers and Chemicals Travancore Ltd (FACT) at nearby Udyogamandal is being delayed inordinately, causing "anxiety and tension." "When the government at the ... More

OUTLOOK

Ranbaxy pins hopes on new drugs
PHARMA major Ranbaxy Laboratories Ltd has taken a severe beating domestically as well as globally due to price deflation in the US markets, increase in research and development (R&D) spends and high litigation costs. However, the company is ... More

PEOPLE

Deepak Parekh, chairman of Lafarge India
MR Deepak Parekh, Chairman of Housing Development Finance Corporation, has been appointed Chairman of cement company Lafarge India Ltd, according to sources close to the company. Mr Parekh was already on the board of directors of Lafarge. ... More

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