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Friday,
December 14, 2001, Chandigarh, India
  
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Attack not
to hit industry: CII
Wipro
joins hands with Apollo
Zee Tele,
Turner sign agreement |
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Indian
Inc. eyes Afghanistan Kawasaki,
Suzuki may merge units Nathpa
Jhakri: delay causes cost overrun 2.2 lakh
tonnes of urea imported
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Attack not to hit industry: CII New Delhi, December 13 President of the CII, Sanjiv Goenka said the deplorable attack on the largest democratic institution in the world should be taken seriously. “We should strengthen our resolve to tackle terrorism and prevent such situations in the future. To face the challenge that the nation is confronted with”, Mr Goenka said while pledging full support of the industry to the government. Praising the efforts of the law enforcement agencies, especially the Delhi Police, in swiftly handling the situation and in containing its fallout, Mr Goenka said there is a need for an appropriate legislation. Quick and decisive moves would be critical to sustaining confidence in the strength of our democratic institutions as well as the country’s security agencies, he said. Mr Goenka believed that such terrorist acts would not affecting business and industry. Condemning the terrorists’ attack on Parliament, President of PHDCCI, Arun Kapur said the general public and the industry and trade, in particular, should maintain composure and calm at this hour and assist the government in maintaining law and order. Mr Kapur said the industry and trade would be the first casualty in the event the law and order get vitiated. This would affect volume of business transacted since the fear psychosis that may envelope would prevent the businessmen and consumers from travelling to different places as a part of the usual business activity. Also the foreign investors may adopt a wait and watch approach if the law and order situation is not conducive for investment, Mr Kapur said.
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Attack jolts sensex too
Mumbai, December 13 However, the market recovered in the latter part of the session once it was made clear that the killings were restricted to a few security personnel and all ministers and MPs inside Parliament were safe. The BSE Benchmark 30-share index, that had risen to the day’s high of 3440.52 during the first one hour, crashed in a quick reaction to the news.
PTI |
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Wipro joins hands with Apollo
Bangalore, December 13 The alliance would help address the healthcare segment in India, Australia, Middle East and the Asia Pacific by providing IT solutions and services to hospitals, drug companies, insurance companies and government, top executives of the two companies told reporters. The solutions would include implementation skills for hospitals and clinics, decision support systems and data analytics for pharmaceutical companies, claims settlement solutions for insurance companies and e-CRM solutions for doctors, Wipro Infotech President Suresh Vaswani said.
PTI Mirant Corp to exit India
Singapore Mirant said it would walk away from a joint venture to build the $ 5-billion Hirma power project in Orissa, which would be India’s largest plant.
Reuters Chennai “The world cup special CTV designed on the lines of a soccer ball is scheduled to hit the market by May next while the six fresh models two each in the regular 14-inch, 20-inch and 21 inch categories will be launched during
January-February next’, C.N. Singh, national head, CTV, LG Electronics India, told reporters here today.
PTI |
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Zee Tele, Turner sign agreement Mumbai, December 13 Zee Tele will hold 74 per cent equity and Turner 26 per cent in the joint venture. The company will be based in New Delhi. The Board of Directors will comprise three Directors nominated by Zee and one by Turner. Mr. D.P. Naganand, Director of Zee Telefilms and Group Head, Access Business for Zee, will be the Chairman. The joint venture will be managed by a team of Turner and Zee executives. Anshuman Misra will be the Managing Director in the joint venture with Sunil Khanna as the CEO, Paresh Karia as the CFO and Siddharth Jain as the Senior Vice President, Distribution. Mr Subhash Chandra, Chairman, Zee Telefilms, expressed his happiness about the formation of the joint venture with Turner and said “The new joint venture is in keeping with Zee`s philosophy of associating with world class organisations to deliver better value to its customers and all other stakeholders. The joint venture leverages both partners respective brands and will enhance each party‘s distribution strength.
UNI
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Indian Inc. eyes Afghanistan
New Delhi, December 13 The Indian Government has started sounding out Larsen & Toubro (L&T) on undertaking projects for reconstruction of houses, schools, hospitals, roads and power plants in Afghanistan. India has announced a Rs. 5 billion package for the war-torn nation. Visiting Afghanistan Foreign Minister Abdullah Abdullah's statement that India could help his country in the reconstruction process has been seen as the right signal to the Indian companies that was maintaining a wait and watch stance so far, according to industry leaders. Chandigarh-based PCP International, a leading engineering consultancy company, has already bagged the first order. As an approved supplier to the United Nations in Iraq and Afghanistan, the company has a head start. It represents several leading Indian companies like Tata Group, Kirloskar, L&T and Eicher. "As approved representatives for a large number of companies to the United Nations in Iraq and Afghanistan, we will begin with supply of 10 Tata Sumo multi-utility vehicles for the first survey group which will be visiting there," H. S. Mejie, Chairman PCP International Ltd, told IANS. The company expects to supply around 100 vehicles to Afghanistan in due course. These could include Tata Safari, which it has already supplied to U.N. officials in Pakistan, Tata pick-up and mini buses. "We are in talks now to supply Kirloskar irrigation pumps for agriculture and power generators, as there will be need to jack up power supply," said Mejie. From merely supplying basic necessities and importing dry fruits from there, the Indian companies can now hope for a bigger role, industry representatives said. The officials are awaiting the establishment of an interim government in Afghanistan on December 22 as they study the possibility of larger Indian exports extending beyond traditional and essential commodities to include machinery and equipment. With the reopening of the Friendship Bridge on the Afghan-Uzbekistan border, a crucial supply route into Afghanistan which India had also helped to build, Indian traders are looking forward to resuming supply of essential commodities and bringing back mainly dry fruits from there.
IANS |
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Kawasaki, Suzuki may merge units
Tokyo, December 13 It is likely that we will set up a joint venture, the Kawasaki Heavy President, Mr Masamoto Tazaki, said in an interview. The companies are trying to separate their motorcycle divisions from other units to form a Kawasaki-Suzuki group to step up competition with Honda Motor Co and Yamaha Motor Co, he said. A merger of the two motorcycle units would extend a plan under way since August to combine the output and development of several models. The reduction of surplus capacity in Japan’s motorcycle industry is long overdue, with domestic sales now less than a third of their peak two decades ago, investors said. Behind Honda & Yamaha: Kawasaki Heavy, the maker of the Ninja sport bike, and Suzuki, Japan’s no. 3 motorcycle maker, lag behind Honda and Yamaha, which together control 82 per cent of the domestic market, even if the companies unite their motorcycle units. The combined domestic bike output at Kawasaki and Suzuki from January to October was 541,557 units, 4.6 per cent less than the same time a year ago. Yamaha production in the first 10 months of this year was 654,935 units, while Honda’s was 781,223 units, the Japan Automobile Manufacturers’ Association said. Kawasaki plans to unveil a new motorcycle with Suzuki under a new brand in three years.
Bloomberg
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Nathpa Jhakri: delay causes cost overrun Shimla, December 13 The latest revised cost estimates (RC-3) submitted by the corporation to the Energy Ministry for approval indicate that the project will now be completed at a cost of Rs 9,169 crore, about Rs 1,600 crore more than the revised cost (RC-2) of 1998. The project, which, as per the revised schedule was to be completed by December, 2001, will now be commissioned in the first half of 2003. The corporation is making efforts commission at least two of the six generating units by December, 2002, but the deadline for completion of the project has been extended to August, 2003. With the latest revision, the cost of project will be more than Rs 6 crore per Megawatt, the highest in the state for any hydel project so far, and almost double the cost of Rs 3.5 crore per megawatt for the 86-MW Malana project, the first hydel project to be executed in the state in the private sector. While the Malana Power Company is earning a handsome profit by selling electricity to the Delhi Vidyut Board at the rate of Rs 2.45 per unit, the cost of generation in the Nathpa Jhakri Project will be Rs 3.02 paise unit. The cost of project, when it was first taken up by the state electricity board in the mid eighties, was just Rs 1,600 crore. Finally, the Centre and the state came together to jointly execute the project and set up the NJPC for the purpose. The project was handed over to the corporation in 1991 and by that time its cost had increased to Rs 4338 crore and the generation cost worked out to Rs 1.37 per unit. Meanwhile, the efforts of the Himachal Government to have its representative in the management of the Nathpa Jhakri Power Corporation have yielded results in the appointment of Mr Tarun Kapoor as Director of personnel in the corporation. |
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2.2 lakh tonnes of urea imported New Delhi, December 13 Addressing the Consultative Committee attached to his Ministry, the Minister said the imports were made despite the country almost becoming self-sufficient in the case of urea with a production capacity of 209 lakh tonnes. Mr Dhindsa said there was sufficient availability of all major fertilisers throughout the country in the current Rabi season and reportedly there is no shortage from any part. To ensure adequate and timely availability of decontrolled fertilisers like phosphatic and potassic fertilisers, the government is operating Concession Scheme, Buffer Stock Scheme, Special Freight Reimbursement Scheme for difficult areas of North-East and Jammu and Kashmir.
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