Tata Chemicals and FMC Corporation and Church & Dwight have agreed a $60...
Recent News
Tata Chemicals invest $60 million in joint US venture
Tata Chemicals and FMC Corporation and Church & Dwight have agreed a $60 million joint venture to set up a sorbents factory in the USA. The new facility is likely to be based at Princeton, and the 450,00 tonnes-per-year factory should be operationally by Q4 2012. Sorbents are heavily used in coal-fired powered stations to [...]
L&T win tender to build Rs.700cr gas facility for Omanese gas co.
Larsen & Toubro’s hydrocarbon division has been awarded a contract worth Rs. 700 crore, to set up a 3-MMSCMD Greenfield gas treatment plant for Petroleum Development Oman. The treatment plant will include gas desulphurisation and gas dehydration units, as well as flow lines, well-pad piping, a remote manifold station and liquid and gas export pipelines. [...]
Coal India to hold new a round of bids for 18 mines
Coal India has again invited major firms to bid on 18 undeveloped mines. Back in 2008, Coal India had shortlisted several firms including ArcelorMittal, Rio Tinto, Reliance Natural Resources, JSW Steel and Essar Steel, but no deal was reached. Chairman and MD, Mr. N. C. Jha, said that the state owned coal firm will start [...]
Wabco make India global export hub
Global technology leaders, Wabco Holdings, will make India their supply base for global operations, according to CEO and Chairman, Jacques Esculier. Wabco, who are a $2.2 billion technology leader, and supply components to the commercial vehicles industry, choose India as it’s an ‘ideal strategic position for their global growth prospects’. The technology leader has decided [...]
Indian exporters told to focus on new markets
The government has warned that Indian exporters need to diversify into new markets to protect India’s competiveness amidst the new looming economic crises in Europe and the US. Union Commerce Secretary, Rahul Khullar, said that Indian exporters should look for new markets, like Columbia, rather than relying upon just Europe and the US. Mr. Khullar’s [...]
Tata Steel to invest $1.1 billion in Netherlands plant
Tata Steel has unveiled plans to invest $1.1 billion in their Netherlands plant. The money will be spent over five years on improving production and quality. The IJmuiden steel plant’s in Holland currently has an annual capacity of 7.2 million tonns of liquid steel, but by 2016 that will rise to 7.7 million tons. Tata [...]
Hero Cycles expect surge in exports
Hero Cycles Limited are already beginning to anticipating a surge in exports thanks to favourable market conditions. A senior official at Hero Cycles said that the ‘export market for Hero bicycles this year would surge thanks to favourable export conditions.’ In 2010 Hero Cycles produced 5.5 million bicycles, and exported almost 120,000 bicycles. The world’s [...]
Indian rice exports will help calm food inflation
Indian rice exports are expected to have adramatic impact on global markets when they are releases for the first time since 2007. Economists expect India to not only regain their position as a global exporter for rice, but also challenging the world’s top rice exporter Thailand. It will be the first time since 2007 that [...]
Infosys potentially close to US buyout
Infosys Technologies are allegedly in advanced buy-out talks with a US-based information technology firm. The identity of the company is not publically known, but, sources believe the potential deal to be around $500-750 million. Senior officials at Infosys are understood to be in the US supervising the due-diligence process. Recent investment in rivals, Tata Consultancy [...]
Starwood Hotels to build 18 new hotels by 2015
Starwood Hotels and Resorts are planning to build 18 new hotels across India by 2015. The hospitality giant plans to develop hotels in Delhi, Mumbai, Bangalore, Hyderabad and Jaipur. The company has recently developed Four Points by Sheraton in Pune and Visakhapatnam with Duet India Hotels Pvt. Ltd. Starwood Hotels is also considering tier-II and tier-III cities [...]
Dell targets India for major growth with Force 10 acquisition
Dell’s new Chairman, Suresh Vaswani, has announced the computing giant intend to double the size of their recently acquired Force 10 Networks’ research and development centre in Chennai, India Mr. Vaswani said that the new facility in Chennai is part of a “critical growth engine for Dell. The new ‘Force 10’ facility specialises in virtualization [...]
PE investment in real estate falls 20%
Private Equity investment in India’s real estate sector has dropped 20.2% in the first five months of this financial year, PE investment fell to $831 million on the back of softening demand. For the first five month of the last fiscal year, PE firm invested $1,041 million into the sector, according to research from Venture [...]
Car exports grow 22% between April and August
New figures released by the Society of Indian Automobile Manufacturers, show that for the April-August period, passenger car exports rose 18% year-on-year. India exported 217,409 units in the period compared to just 177,634 units for the same period in 2010. The export growth is mainly on the back of healthy sales for Nissan and Ford. [...]
Tata Steel to stop canning production
Tata Steel is to close its tinplate works in Llanelli, Wales due to a ‘marked drop in demand for tin cans’. Recent poor weather conditions have led to a large decline in common canning crops, like baked beans, or sweet corn. Tata said in a statement that “Poor spring and summer weather conditions have led [...]
ICICI Bank to create 6000 jobs
ICICI Bank, India’s largest private lender, has announced plans to create 6,000 new jobs during the next financial year in a bid to expand their business development and growth ICICI’s managing director and CEO, Mr.Chanda Kochhar said “Our business is growing between 18% and 20%, and we are also adding branches… we expect to hire [...]
Indian Soybean output revised down due to water logging
Economists have cut this year’s soybean output forecast, after water logging in major growing states damaged crops. 2011’s output is likely to remain at around 9.5-10.5 million tonnes (compared with 9.5 mt in 2010) Analysts were expecting a record yield of 11.5-12 mt for the crop. Soybean is a major rainfed kharif oilseed crop and [...]
