Championing the farmers cause
DELHI: It was a moment of deep pride that ran through the veins
while confronting this private soldier advocating an independent
war on the betterment of rural India. He has set himself on a course
that requires strong determination, dedication to a cause and a
motivation level of the saints. He has chosen a path where the "self"
is the least and becomes the last of the priorities. Let us meet
this proud Indian who, with complete humility, has dedicated his
life to a single point objective to uplift the state of our farmers.
life of Mr Udai Shanker Awasthi, Managing director of Indian Farmers
Fertiliser Cooperative Limited (IFFCO), is a case study on an honest
note of patriotism to the hilt. While lighting that flicker of hope
in the eyes of the farmers, the vision of this man was the key to
a turnaround in the agro sector making IFFCO the largest fertilizer
cooperative in the world. He is also the Chairman of ICS, Industries
Chimiques du Senegal, with offices in Dakar and Paris.
soft sophisticated and balanced approach sums up the positive energy
in Mr Awasthi's life. "This institution is my life" he
admits. "Mybiggest joy is that reverence laden look in the
eyes of our farmers when they meet me and tell me that I did achieve
what I set myself to."
flows freely in this cooperator. Mr Awasthi has constructed a system
whereby the needy will never go back empty handed. Keeping his social
objectives in focus he started the "Kisan Sewa Fund" in
2001, which resulted in the construction of 2,000 houses for the
earthquake victims in Gujarat. This fund provides medical assistance
to the needy farmers and relief funds during any natural calamity.
year in collaboration with IFFCO Tokio General Insurance Company
(ITGI), he also launched the pilot project called the "Baarish
Bima Yojna" where the catch line is "Barse to Barse, na
bares to Kahe ko tarse". Earlier, he was instrumental in introducing
an insurance cover on every bag of fertilizer bought by a farmer
with the slogan "Khaad to Khaad, Bima Saath".
IFFCO board is very conscious about its contribution to society.
Environment protection is mandatory at all levels. All his units
are at zero pollution level," he says proudly.
has also introduced an integrated rural development programme where
Rs 20 lakhs is spent on a village within the 20 km radius of an
IFFCO plant for construction of roads, electricity, solar energy
units, irrigation system, computers and any other civic needs.
in a small village of Rai Bareilly district in Uttar Pradesh, he
lost his father at the tender age of two and was raised by his mother
on the principles of patriotism. Being close to the Nehru/Gandhi
family and Dr Harivanshrai Bachchan, his family nourished on the
musical ambience of literature and poetry. "My mother always
taught us to give. Patriotism and the desire to excel for the country
were her gifts to me". He is grateful to God that his beautiful
family also lives by these principles.
by several poets, Mr Awasthi himself gets into creative writing
and composes poetry. He is a great orator with a natural born gift
of keeping the audience mesmerized. "I plant to write my autobiography
citing rare and spiced up instances that I lived during my career
span of 37 years." Mr Awasthi retains an avid fan following,
all this while, pledging his life to the betterment of the farmers.
the age of 41, this Chemical Engineer became the youngest Chief
Executive in India when he was appointed as Chairman and Managing
Director of the Pyrites, Phosphates and Chemicals Ltd (PPCL). Since
then there has been no looking back whereby he has had a unique
distinction of serving private, public and cooperative sectors in
the country. And 20 years later, he is now the senior most Chief
Executive of India.
is supported throughout by his petite soft spoken wife, Rekha, daughter
of Sahitya Academy award winner author Shrilal Shukla. Mr Awasthi
calls her his best friend. For it was she who supported him throughout
his career giving him the nod and space to perform to achieve objectives.
Awasthi recalls with pride the days when he first bought a Lambreta
scooter RJR 5458 to woo her with his charm. It's a different story
that coming from a well to do family she had never sat on a scooter
before that. Today their relationship remains one of compassion,
love and sincere understanding to each others needs. They share
common interest in soft music and reading.
great connoisseur of art, Mr Awasthi has built the art treasures
of IFFCO with his strongly anchored admiration of this field of
human endeavor. "Art is an expression of your feelings"
he said. Recourse has been made to various styles to incorporate
Cubism, Graphics, Impressionism, Symbolism, human figures, abstracts
and landscapes. M
F Hussain was commissioned by Mr Awasthi to create a painting for
IFFCO in 1986. "Cooperation is an Angelic message" was
the resulting work that was bought for Rs 30,000 then. Today this
piece of art is valued in seven figures.
true Congressman at heart, Mr Awasthi insists that he never mixes
religion or politics with his work. "Religion and political
beliefs are personal and should be kept to oneself". His secular
beliefs have taken him to revered religiousS places such as Karbalah,
the Vatican, the Golden Temple in Amritsar, Tirupati Dev Sthanam
and Mata Vaishno Devi temple.
long association with the Nehru family cannot change the roots of
their common ideology. Yet his workplace is a totally democratic
and secular set up. When asked if he intended to join politics he
immediately replied "Will I be able to do what I am doing now?
Will I be able to contribute as much? The answer is no and therefore
politics is ruled out."
workplace is decorated with prestigious awards and recognitions.
With total humility he laughs and admits having lost count of the
awards and usually requests his senior executives to collect them
on his behalf. "Let me do my work. My reward is the love and
joy in the eyes of the farmers".
Ambani resigns from IPCL
DELHI, Jan 3: The battle within Reliance got hotter on Monday
with Anil Ambani resigning from the board of group company
IPCL and targeting one of Mukesh Ambani's closest lieutenants,
Anand Jain, in writing. In his resignation letter to Mukesh,
Anil is learnt to have accused Jain of conspiring to divide
the brothers and written that he was quitting the IPCL board
because it was "beneath his dignity, self-respect and
self-esteem to be on the same board" as Jain, one of
IPCL's non-executive directors.
letter, according to sources, makes a scathing attack on
Jain, suggesting that his dealings with Reliance were "improper
and contrary to ethical norms" and that these dealings
were impacting the business image and reputation of the
letter says a large number of people have told Anil and
other members of the Ambani family that Jain was heading
a conspiracy to divide the Ambani siblings and to further
aggravate differences between them. It also accuses Jain
of having launched a "campaign of character assassination"
against Anil in recent weeks and of playing an "obstructive
and negative role" in affairs of the group and the
antipathy to Jain has hardly been a secret since news of
the rift between the brothers first broke and his name has
repeatedly cropped up in the off-the-record trading of charges
by the two sides. Anil's resignation letter, however, is
perhaps the first time that his objection to Jain has been
put on record.
when contacted, declined to comment. However, sources close
to him said "he has never engaged in character assassination
of anyone in the Ambani family." These sources also
pointed out that "he was appointed on the board of
IPCL by Dhirubhai Ambani, the RIL founder."
in the Mukesh camp said, "We are ignoring these allegations
levelled against Anand Jain." They said Jain was one
of the pillars of Dhirubhai Ambani in building the Reliance
empire and the attack on him now was not fair. Jain, who
was Mukesh's classmate at the Hill Grange high school in
Mumbai, has been associated with the Reliance group ever
since Mukesh returned to India from Stanford University
in 1981. He holds no official position in Reliance Industries
Ltd (RIL), but has a wide range of dealings with the company
through companies owned by him and his relatives.
is a non-executive director in IPCL, Reliance Infocomm and
some other companies of the Infocomm group. He is also non-executive
vice-chairman of Reliance Capital. Jain's proximity to Mukesh
is well-known, and by taking him head-on, Anil appears to
be upping the ante.
in his letter to Mukesh, is also learnt to have questioned
the conflict of interest involved in Jain being a director
of IPCL and a buyer and distributor of RIL products. He
has also questioned Jain being a member of RIL's pricing
committee, which decides the monthly pricing of RIL products.
How can a distributor be included in the panel which decides
the prices, sources close to Anil asked.
earmarks Rs 2,000 cr for Tsunami rehabilitation: Selja
By Deepak Arora
DELHI, Dec 28: The Minister for Urban Employment and Poverty
Alleviation, Kumari Selja, announced that HUDCO has earmarked
a sum of Rs. 2000 crores, which will be made available for
lending related to the construction and rehabilitation works
in the Tsunami affected areas.
to newsmen after receiving the dividend cheques from HUDCO
here on Tuesday, Kumari Selja further stated that a special
loan scheme of HUDCO would be floated with immediate effect
for the repairs, retrofitting and reconstruction of new
houses for the economically weaker sections at a highly
subsidized interest rate of up to 6.5 per cent for the calamity
is against 7.5 per cent presently applicable for EWS Schemes,
which itself is among the lowest lending rates offered by
any lending institution for economically weaker section
category, she added.
Minister further informed that HUDCO has contributed Rs.
One crore to the Prime Minister's Relief Fund, and also
earmarked additional Rs. One crore for construction of relief
shelters with disaster resistant technologies, through Building
that HUDCO has responded spontaneously to reach out to the
people affected by the devastation caused by the Tsunami,
Ms Selja assured that "HUDCO's past experiences in
supporting rehabilitation projects in disaster hit areas
will be effectively utilized to combat the current situation".
Selja said that HUDCO is already in touch with the State
Governments through its network of Regional Offices assessing
the damage caused and extending all support for rehabilitation
of the affected population.
Minister indicated that the Building Centres located near
the affected areas would step in to provide technical guidelines
and training for reconstruction of the affected houses in
a cost-effective manner. The network of Building Centres
promoted and supported by HUDCO throughout the country provide
aesthetic, innovative, durable, cost effective and alternate
building technologies utilizing locally available material
and technical know-how.
Minister received the dividend cheques from HUDCO of over
Rs 102 crores for the year 2003-04 and also as interim dividend
for the current year. The total payment comprises of Rs
66.49 Crores as dividend for the year 2003-2004 wherein
HUDCO earned a net profit of Rs. 332.44 crores as against
Rs. 266.54 crores last year.
dividend would be payable to the Ministry of Urban Employment
& Poverty Alleviation, Ministry of Urban Development
and the Ministry of Rural Development in proportion to their
equity contributions. The dividend paid also included the
interim dividend declared by HUDCO for the current financial
year 2004-2005 amounting to Rs. 35.68 crores. She highlighted
the fact that HUDCO has been able to maintain its focus
on the EWS and LIG and still achieve higher profitability.
bags two prestigious awards
DELHI, Dec 14: Indian Farmers Fertiliser Cooperative Limited
(IFFCO), globally acclaimed marketer and manufacturer of
fertilisers in cooperative sector, has won the prestigious
National Energy Conservation Award - 2004 ( Certificate
of Merit in the Fertiliser Sector) from Ministry of Power,
Govt. of India and Best Managed Work Force Award instituted
by Hewitt Associates and CNBC TV18.
Prime Minister, Dr Man Mohan Singh, presented the National
Energy Conservation Award - 2004 on Tuesday. Best Managed
Work Force Award was awarded by Mrs Sheila Dikshit, Chief
Minister of Delhi, to Mr Surinder Kumar Jakhar, Chairman,
IFFCO, at glittering and impressive ceremony in New Delhi.
Besides a galaxy of personalities from various private and
public enterprises, Mr Dayanidhi Maran, Union Minister for
Communications and Information Technology, was also present
at the award ceremony.
IFFCO has been following a liberal, pragmatic and radical
policy aimed at improving the living standards and productivity
of employees. The society which has become 100 per cent
cooperative this year has been recipient of awards instituted
by Fertiliser Association of India (FAI). Its Phulpur-1
plant near Allahabad got FAI's runner up Award for the year
2003-04 for the Best Overall Performance of an operating
unit for Nitrogen (Ammonia Plant).
Similarly, an article entitled " Cost Reduction and Power Savings
in Utilities in a Mega Fertiliser Complex" published in the
November 2003 issue of Fertiliser News has been adjudged best. The
article has been co-authored by Mr M.M. Raheja, Sr. General Manager,
IFFCO, Phulpur. IFFCO's all four plants after expansion have been
exhibiting sterling display on production front year after year.
NIIT to drive computer-assisted education in schools
NEW DELHI, Nov 23: World's largest chipmaker Intel and NIIT
have signed a memorandum of understanding to significantly
enhance the use of technology-assisted learning in schools.
As per the MoU, Intel and NIIT will seek to double the number
of Indian schools benefiting from computer-assisted education
to 80,000 by 2010, a statement issued here said.
two companies will also set up collaborative teams, with
professionals from the IT industry, educationists and community
members, to support the country's most `challenging' technology
induction initiative in schools. "Together with NIIT,
we aim to infuse global best known practices into India's
education system and introduce technology-assisted learning
in this vast country," said Craig Barrett, CEO of Intel.
will contribute technology strengths to NIIT's content creation,
curriculum delivery and education process management capability
to enhance education across India," he added. The two
will also develop new technologies and education models
to make technology-assisted learning more affordable and
accessible. They will work with governments and education
planners to define new ICT deployment models, devise IT
education standards and build replicable learning models.
proposes new urea pricing policy
DELHI, Nov 21: Indian Farmers Fertiliser Cooperative Limited
(IFFCO), world leader in fertiliser production and marketing
in cooperative sector, has called upon for formulation of
a comprehensive policy covering all fertilisers and taking
care of all shareholders' concerns. This has been done in
this era when economic liberalization and reforms have emerged
as two issues of Government's political philosophy and fertiliser
sector has to fall in line with the rest of economy.
Under the present urea pricing policy, Government has assessed
the capacity of existing domestic urea producing units as
200 lakh tones per annum (LTPA). This capacity is entitled
to a concession from the Government, based on the Group
Concession Scheme that has been effective since 2003. IFFCO
suggests that the production price control may be restricted
to the 200 LTPA currently covered by the concession scheme.
Any production over and above the 200 LTPA, whether by way
of de-bottlenecking or revamp or by way of new/expansion
project or even production in excess of assessed capacity
for reasons of increased stream days or any other reason,
should be free of all controls.
The IFFCO Managing Director, Mr U S Awasthi, said that investors
should be free to choose whether or not to invest in enhancing
capacity of their existing units or whether or not to produce
in excess of assessed capacity to benefit from the trends
in the international market. He further said that there
should be no controls on such decisions / investments and
consequently, there should be no obligation on the
Government to provide any subsidy to such production.
should be free to either export the incremental production,
or sell it to complex fertilizer manufacturers at negotiated
prices. They should also be permitted to quote against international
tenders floated from time to time either by the Government
or nominated State Trading Enterprises. As indigenous supplies
against import requirements would not get the handling charges
of around Rs.1000-1500 that would have been provided by
the Government in case of actual imports, Government could
end up saving subsidy on its import requirements.
Mr Awasthi opined that in order to ensure the use of alternate
energy source for the incremental capacity does not increase
the subsidy burden of the Government, the subsidy on the
existing capacity could be computed based on the cheapest
source of energy available for production of up to 100 per
cent of the existing capacity. Any investor would then invest
in incremental capacity only if the cost benefit analysis
favours investment based on the cost of production entirely
based on the expensive energy source. Unlike the current
policy, this would effectively pass on the demand risk,
output price risk, input price risk and all other project
risks on to the investor, thereby encouraging only efficient
He further added that unlike the present policy for capacity
additions and excess production, the suggestion above would
move away from a cost plus approach, make for a more market-oriented
system, lend much-needed transparency to the system, minimise
administrative discretion, be more stable as it would obviate
the need for a periodic review. Such a system would be equitable
and would encourage efficiencies of operations as producers
of new capacity would be exposed to international competition
and would get a realisation equal to what they would have
got had they competed in the open market.
the ultimate aim is, as it should be, to free this industry
from all sorts of controls, these measures would also serve
the purpose of initiating the industry, the polity and the
economy to the idea of decontrol, making the move to total
decontrol and open competition, easier and more acceptable.
announces Rs 5 lakh reward
DELHI, Nov 21: National Hydroelectric Power Corporation
Ltd. (NHPC) has announced reward of Rs 5 lakhs to the person
giving information regarding whereabouts of its two senior
officers missing since November 19, 2004. This is in addition
to Rs 3 lakhs award declared by the State Government of
officers Mr T.Mandal, General Manager (Civil) and Mr K.K.Singh,
Chief Engineer (Civil) were on the way to Betia from Muzaffarpur
in Bihar where NHPC has been entrusted to construct about
6,000 km of rural roads under Pradhan Mantri Gram Sadak
Yojna. The name of the person giving information/clue shall
be kept secret. The information can be given on the telephone
nos. 9431014464 (Patna) and 0129-2273634 (Faridabad).
Singapore trade to grow by 10 pc
Nov 20: The two-way trade between India and Singapore, which
stood at 7.9 billion Singapore dollars in 2003, was poised
for a 10 per cent growth this year, Ramakrishna Kukkila,
centre director of International Enterprise Singapore (IES),
said on Friday. The bilateral trade is in favour of Singapore
in the ratio of 2:1 and the trend continues in 2004 too,
he told newsmen on the sidelines of a seminar on "Doing
business with Singapore", here. IES assists Singapore-based
companies to set up business in India.
2001, India was Singapore's 15th largest outward investment
(OI) destination, absorbing only USD 1.3 billion or 0.6
per cent of OI. China was top, absorbing USD 18 billion.
Kukkila said India offers great opportunity for Singapore
firms in real-estate development, infrastructure, ports
and in the setting up of special economic zones (SEZs).
firms were instrumental in setting up hi-tech parks in Bangalore
and Andhra Pradesh. "Many firms are also involved in
housing projects in Andhra Pradesh," he said. Koh Siew
Mui, consul, Consulate of the Republic of Singapore, Chennai,
inaugurated the seminar.
S Grewal appointed Vice Chairman FAI; Grover is Chairman
DELHI, Nov 10: Mr P.S. Grewal, Chairman and Managing Director
of National Fertilizers Limited (NFL), has been appointed
Vice Chairman of Fertilizer Association of Association (FAI)
for the term 2004-06. Mr Grewal is currently also the Chairman,
FAI (Northern Region). Mr H.C. Grover, Vice Chairman, PPL,
has been appointed as Chairman of the FAI.
Grewal took over as NFL CMD on February 1, 2001. NFL is
a Mini Ratna Category "A" company and is a leading
producers of nitrogenous fertilizers and has been continuously
making profits. During his tenure, the Company has excelled
on numerous fronts.
Grewal started his professional career in Fertilizer Corporation
of India, in January, 1968 and rendered professional expertise
in the setting up Ammonia-Urea Plant at Nangal and he also
headed Panipat Unit and occupied key posts at Bathinda and
Nangal Units and Corporate Office of the Company. A Graduate
in Mechanical Engg. from Guru Nanak Dev Engg. College, Ludhiana,
he has served fertilizer industry in diverse capacities
during his past career spanning over 35 years.
NFL unit begins producing Neem-coated urea
DELHI, Nov 9: To meet the growing demand, the Vijaipur Unit
of National Fertilizers Limited (NFL) has started producing
and marketing Neem-coated urea. The unit, which commenced
producing neem-coated urea from October 30, has already dispatched
1,750 million tonnes of it in the market. Neem is a natural
pesticide that helps in saving the crops from insects and
pests. The Neem-coated urea is also having the advantage of
anti-caking and meets specification of Fertilizer Control
Order even after the coating.
has played a pioneering role in the development and production
of Neem-coated urea in its Panipat and Bathinda Plants, which
has resulted in increased crop yield to the tune of 4 to 5
per cent. The Neem-coated Urea has become increasingly popular
amongst the farmers for its advantages at the same selling
gas-based Vijaipur Unit of NFL, which has an installed capacity
of 3,040 million tones of Ammonia and 5,240 million tonnes
of urea per day is an ISO-9001:2000 and ISO-14001 accredited
Unit. The Unit accords top priority to pollution control and
ecological development. It has adopted pollution control measures
to meet the prescribed standards.
improve the environment, massive tree plantation is an on-going
activity. What was once a barren land has now been transformed
into a green forest with large number of birds and other animals
taking refuge in it. Two comprehensive Impact Assessments
and a Rapid Environmental Impact Assessment Study by NEERI,
Nagpur and CICON, Bhopal have been carried out till-date in
gets a pat from Dr Raguvansh Prasad on its 29th Foundation
(HARYANA), Nov 7: National Hydroelectric Power Corporation
Ltd. (NHPC) got a pat from the Union Minister for Rural Development,
Dr Raghuvansh Prasad Singh, on its 29th foundation day here
on Sunday. Inaugurating the celebrations, Dr Raghuvansh Prasad
Singh announced that the Government would give more stress
for developing the vast hydro power potential of the country.
Minister said the NHPC has made commendable progress during
its existence of 28 years. He said that the role of NHPC in
the coming years would become more important as the Government
is going to give more stress for developing the vast hydro
power potential of the country. He praised the Management
of NHPC and the employees posted in far flung areas of the
country for taking NHPC to its present height of glory. He
thanked NHPC for taking up the work of construction of Rural
Roads in 6 Districts of Bihar and expressed confidence that
NHPC will accomplish this task with full dedication and devotion.
Minister visited the different stalls set-up in the fete by
various projects situated in different parts of the country.
He referred to NHPC as a mini India, as people from all States
are working in NHPC and said that this is a best example of
on the occasion, the Power Secretary, Mr R.V.Shahi, said that
the work done by NHPC during the last few years is commendable.
He said that by completing the 300 MW Chamera Stage-II Project
in Himachal Pradesh, NHPC has shown to the world that hydroelectric
projects can be commissioned in a short span of less than
Shahi said that the year 2003-04 was very good for hydro sector
as the share of hydro increased by 2590 MW . He also mentioned
that during the period April to September, 2004, there was
an increase in generation of electricity by 7.8 per cent when
compared to the normal increase of 3 per ent to 4 per cent.
He thanked the officers and employees of NHPC for the hard
work being done by them and wished NHPC many more achievements
his address, the NHPC Chairman and Managing Director, Mr Yogendra
Prasad, said that the motto of NHPC is to complete all the
assigned works either on schedule or before schedule. He assured
the Minister that whether it is constructing hydroelectric
projects, or construction of roads which NHPC has taken up
in six districts of Bihar, the work will be accomplished by
NHPC with full dedication and devotion.
mark the celebrations day long cultural programme by the employees
and a grand fete were organized. An exhibition on NHPC was
also organized on this occasion.
During the eventful 29 years, NHPC has made giant strides
in the development of hydro power in the country. Today, NHPC
is a premier
organisation in the country in the Central Sector for development
of hydropower. The expertise available with NHPC for construction
of small, medium and mega projects is unmatched in the country
and the best available in the world.
Corporation has been earning profits year after year. During
the financial year 2003-04, NHPC has earned a net profit of
Rs 621.38 crores which is 22 per cent more than the profit
earned during the previous year.
2003-04, the Corporation has commissioned the 300 MW Chamera
Stage-II Project in Himachal Pradesh ahead of schedule. Moreover,
work on ongoing projects like Dul Hasti, Teesta Stage-V and
Dhauliganga Projects are going on in full swing. Moreover,
NHPC has taken up for development of more than 22000 MW hydro
power in the Dibang, Siang and Subansiri River Basins of Arunachal
NHPC has signed an agreement with Ministry of Rural Development,
Government of India to construct and maintain rural roads
in six Districts of Bihar. MOU has also been signed with Rural
Electrification Corporation Ltd. for electrification of rural
areas in Bihar and West Bengal.
divests 60 % stake in Indian BPO arm for $500 m
DELHI, Nov 8: General Electric on Monday announced it has
sold 60 per cent stake in its BPO firm - GE Capital International
Services (GECIS) - to two leading investment firms - General
Atlantic Partners and Oak Hill Capital Partners - for $500
million. "The partnership is aimed at expanding the company's
operations in its established markets as well as finding new
markets globally,'' said GECIS CEO, Pramod Bhasin, here.
that both General Atlantic Partners and Oak Hill Capital Partners
had equally acquired stakes in GECIS, Mr. Bhasin said the
deal, subject to regulatory approvals, was valued GE at $800
million and would be completed in the next six months. GE
had retained 40 per cent share in GECIS as well as its 1,000
employees from the company's total workforce of 17,000.
the new arrangement, GECIS as an independent company, will
be well positioned to offer its quality business processing
services to companies in the Americas, Europe and Asia. GE's
decision to sell its stake in GECIS is aimed at broadening
its global offerings by meeting the needs of other potential
clients. Our aim is to expand our product offerings besides
focusing on industry verticals to maintain 40-50 per cent
year-on-year growth,'' Mr. Bhasin said.
at present, GECIS' clients are largely GE subsidiaries. "Now
the Gurgaon-based GECIS will focus on other non-GE clients
to expand its operations. However, it will continue to serve
GE under a multi-year contract,'' said the GECIS CEO, adding
that the company would continue to expand its operations in
China, Hungary and Mexico besides looking for other international
markets like Romani and Tunisia. "We also plan to start
our operations in smaller Indian cities like Kolkata and Jaipur.''
to GE India President, Scott Bayman, for his company, India
has always been an important part of its operations. GE would
continue to capitalise on the intellectual talent available
here and achieve growth in the industrial and financial services
in a faster pace. As far as divesting its majority stake in
GECIS was concerned, they wanted to focus on its core technology-driven
businesses. "We are targeting at least 15 per cent growth
in our revenues. At present, India contributes over $1 billion
to GE's global business operations,'' he added.
said it was open to invest in Indian power projects despite
the Dhabol Power Corporation imbroglio. "Dhabol was a
big bump, but being a global company we cannot ignore India,''
Mr Bayman later told newsmen. He said GE would continue to
explore opportunities to invest in the power sector.
he did not clarify whether GE had zeroed in on any project,
he said the National Electricity Bill 2003 was a step in the
right direction to attract private investment in the power
on suggestions to rope in NTPC to revive Dhabol, he said,
"The matter is sub-judice and I cannot comment on it.
But we had earlier said that if the plant was in running condition,
it would fetch a better price.''
reforms on anvil to hasten urban development: Ghulam Nabi
DELHI, Nov 1: The Urban Development Ministry is planning to
bring the Centrally Sponsored Schemes of Infrastructure Development
in Mega Cities and Integrated Development of Small and Medium
Town (IDSMT) under one umbrella and extending its coverage to
all the towns and cities of the country.
this here on Monday, the Union Minister for Urban Development
and Poverty Alleviation, Mr Ghulam Nabi Azad, the unified scheme
would push forward the reforms agenda and the State Governments
desirous of accessing funds under the scheme would have to enter
in to a Memorandum of Agreement (MoA) with the Centre. The MoA
will consist of a basket of reforms, some of which will have
to be implemented by the ULBs.
the "Cityscapes 2004", jointly organized by Ministry
of Urban Development and Poverty Alleviation and FICCI, Mr Azad
said "the MoA will consist of a basket of reforms, some
of which will have to be implemented by the ULBs."
Elaborating the proposed merger of the two schemes, the Minister
said that the scheme would help incentivise preparation of DPRs,
capacity building, bringing in project efficiencies and adoption
of innovative and proven technology. A similar scheme exclusively
for water supply and sanitation also being under consideration,
Mr Azad also said that to provide an additional incentive for
Urban Local Bodies to become creditworthy and to invest in urban
infrastructure, provision has been made for issue of tax-free
municipal bonds up to Rs 300 crore in the financial year 2004-05.
So far eight city governments have accessed capital market to
raise funds for urban infrastructure financing by issue of Tax-free
the capital market by the cities has brought about a perceptible
change in the mindset of policy makers as also the city managers,"
the Minister said. There now exists a consensus on the need
for structuring commercially viable/ bankable projects that
could become an instrument for developing a long-term debt market
in India, he added.
Talking about improving the efficiency and effectiveness of
the urban development system, the Minister said that the municipal
governments and the urban infrastructure agencies are going
for Management contract.
Speaking at the Convention, the Secretary, Minister of Urban
Development, Mr Anil Baijal, said that the pattern and quantum
of central government funding has been woefully inadequate.
About Rs 1,200 crores released for five mega cities in the last
10 years and about Rs 650 crores released for water supply in
1000 towns. " We are currently engaged in the process of
review and introspection- as regards the content as well as
the entire approach to urban infrastructure improvement programme,
Mr Baijal said.
Regarding the reforms that the States need to undertake, Mr
Baijal said that basic issues which are inhibiting proper development
like lack of Clear Titles of Land, Urban Land Ceiling Act, Rent
Control Act and Devolution of Funds and Powers to ULBs needs
to be amended.
Talking about the funding of the projects, Mr Baijal said that
at the Ground level many programmes are operating in a fragmented
manner- quite a few funded by bilateral/ multilateral donor
agencies. For deriving optimal benefits from the pool of funds
available, he said that all fiscal flows should be consistent
with Government of India Policy framework and a co ordination
policy needs to be put in place.
Earlier in the welcome address, Dr A C Muthiah, immediate past
president, FICCI said "the biggest hurdle in promoting
public private partnership is the absence of suitable provisions
in the State Municipal Laws. Our Municipal laws lack provisions
that permit private sector to provide municipal services."
presents Rs 58.45 cr dividend cheque to PM
Prime Minister, Dr Manmohan Singh, receiving KRIBHCO dividend
cheque for Rs 58.45 crore. Seen in the picture are Mr Chandra
Pal Singh, Chairman, KRIBHCO, Mr Ram Vilas Paswan, Union
Minister for Chemicals & Fertilisers and Steel, and
Mr V.N. Rai, Managing Director, KRIBHCO.
DELHI, Oct 30: KRIBHCO, a leading fertilizer producer in the
cooperative sector, has paid a dividend of Rs 58.45 crore for
the year 2003-04 to the Government.This is the highest dividend
paid by any Cooperative Society to the exchequer. The cheque
was presented to the Prime Minister, Dr Manmohan Singh by Dr.
Chandra Pal Singh, Chairman, KRIBHCO in the presence of the
Union Minister for Chemicals & Fertilizers and Steel, Mr
Ram Vilas Paswan, at a brief ceremony here. Present on the occasion,
among others, were Mr SNPN Sinha, Secretary, Department of Fertilizers,
Mr V.N. Rai, Managing Director, KRIBHCO and Mr B.D. Sinha, Finance
Director of the Society.
consists of 5,790 member cooperative soscieties at village and
national level as on March 31, 2004. The Society since its inception
in 1986-87 has been paying uninterupted dividend. The Society
has so far paid Rs 881.14 crore dividend to its shareholders,
out of which Rs 616.05 crores to Government of India. KRIBHCO
has made a contribution to exchequer of Rs 3527.42 crore by
way of taxes, duties and dividend upto March 31, 2004 which
also is the highest in the cooperative sector in India. Soceity
produced the cheapest urea in the country, took least subsidy
from Government and achieved highest capacity utilization in
industry in gas based plants establishing 38 new records in
October sales jump 28 %
DELHI, Nov 1: India's biggest car maker, Maruti Udyog Ltd, has
reported a 27.6 percent rise in October vehicle sales on Monday
as rising incomes and cheap loans spurred buying in Asia's fourth-largest
economy. Maruti, 54.2-percent-owned by Japan's Suzuki Motor
Corp, said in a statement it sold 49,399 vehicles in October,
up from 38,715 units in the same month a year ago and compared
with 43,949 in September, when sales rose 12.4 percent.
sales at the auto maker, which controls half the Indian car
market, rose 31.3 percent to 43,949 units while exports were
3.8 percent higher at 5,458. Total vehicle sales in April-October,
the first seven months of this business year, were up 20.6 percent
to 302,871 vehicles from 251,183 units in the year-ago period.
New Delhi-based firm reported a 30.3 percent rise in sales in
the business year to March, helped by robust economic growth,
three-decade-low interest rates and a product tax cut. Maruti,
which mainly competes with the local unit of Hyundai Motor Co.
and local firm Tata Motors Ltd, said domestic sales of its mini
Maruti 800, India's top-selling car until a few months ago,
fell 4.6 percent to 11,633 units. Sales of the Maruti 800 have
been falling since April when the firm introduced a cut-price
version of the competing Alto.
sales of its three compact cars - the Alto, Zen and Wagon R
- jumped 57.6 percent to 23,334 units while the combined sales
of its Omni and Versa vans rose 15.9 percent to 6,106. Sales
of its Baleno and Esteem sedans jumped 144.3 percent to 2,577
units after the company introduced a new-look Esteem in July,
while those of the Gypsy and Vitara multi-utility vehicles more
than doubled to 291 units.
shares were up 0.2 percent at 376.25 rupees in morning trade
at the Bombay Stock Exchange, in line with a 0.2 percent rise
in the exchange's benchmark index. Maruti shares have fallen
more than 5 percent since September 13, when parent Suzuki announced
plans to set up a new car assembling company in India rather
than expand Maruti. Maruti will hold a 70 percent stake in the
new company to be set up in early 2007.
car industry sales are forecast to rise by 8-10 percent annually
this decade, spurred by rising incomes, an improving road network,
inadequate public transport and a low ownership level of eight
cars per 1,000 people. Maruti's total vehicle sales are expected
to rise 15-19 percent in the business year to March 2005 from
the previous year's 472,122 units. Exports are expected to remain
flat compared with the previous year's 51,175 vehicles.
shares trade at 12.4 times its forecast 2004/05 earnings, according
to Reuters Research, a discount to truck market leader Tata
Motors' forward PE of 13.2. In October, it announced a 48 percent
jump in second quarter net profit to 1.84 billion rupees, helped
by robust sales and sharp cost cutting.
increase in STC's turnover
DELHI, Nov 1: The State Trading Corporation of India Ltd (STC)
has registered a total turnover exceeding 5,000 crores during
April- September this year, an increase of 54 percent over the
corresponding period of last year. It has paid a final dividend
of 5 per cent for the year 2003-04 to the Government of India.
The dividend cheque was handed over by Dr. Arvind Pandalai,
CMD of STC to the Minister for Commerce and Industry, Mr Kamal
Nath, here on Monday.
has also declared an interim dividend of 15 per cent this year,
thus making a total contribution of Rs.5.46 crores to the Exchequer.
The Corporation was able to achieve higher profits by negotiating
better trading margins. The
Corporation's domestic sales rose to the level of 150 crores
during April- September this year and is confident of achieving
another milestone in this year by recording a turnover of Rs.
H1 net profit up 45.1 per cent to Rs 3545.2 m
DELHI, Oct 27: Maruti Udyog Limited registered total income
of Rs 54062.5 million (Net of Excise) during the first half
of the fiscal (April-September 2004), a growth of 23.3 per cent
over the same period last year. Profit Before Tax went up to
Rs 5425.8 million in the first half of
2004-05, a growth of 57 per cent over the same period last year.
Net Profit stood at Rs 3545.2 million, up 45.1% over April-September
II total income (Net of Excise) was Rs 27897.9 million during
July-September 2004 (Quarter II), a growth of 22.5% compared
to the same period of the previous year. Net Profit stood at
Rs 1836 million, up 48 per cent over July-September 2003. Quarter
II (July-September 2004) was marked by higher raw material prices
compared to the same period last year, and the impact of price
repositioning of Esteem, WagonR and Zen models.
company's performance has been powered by a 19.3 per cent growth
in total unit sales during the first half of the year. Maruti
sold 253,472 vehicles in the first half of this fiscal against
212,468 vehicles in the same period last year. This includes
export of 23931 vehicles. The Company's market share in the
domestic passenger car market went up to 55 per cent, from 54
per cent in the first half of last fiscal. Sales in the domestic
A 2 segment (Zen, WagonR, and Alto) grew by 77 per cent while
those of A 3 segment (Esteem and Baleno) went up 73 per cent.
aims at us $ 16 b export of gems, jewellery
Oct 24: Targeting gem and jewellery export worth 16 billion US
dollars within the next three years, the GJEPC has said the industry
was recording an average growth of 25 to 30 per cent. "The
Indian gem and jewellery industry has been growing leaps and bounds
and we believe we will achieve our vision of touching exports
of 16 billion US dollars by 2007," said Bakul Mehta, Chairman
of the Gems and Jewellery Export Promotion Council (GJEPC).
industry is recording an average growth of 25 to 30 per cent per
annum with the country establishing itself as the world's largest
manufacturing centre of cut and polished diamonds exports of which
it had already reached 8.6 billion dollars, he said at the Council's
31st annual award function here. India, he said, was contributing
60 per cent of the world's supply in terms of value, 85 per cent
in terms of caratage and 92 per cent in terms of pieces.
out of 12 stones set in jewellery world-wide go from India, making
the country a preferred source of gem and jewellery, Mehta said.
He, however, warned against any contentment as China and Thailand
were posing challenge to India's supremacy in the trade. Stressing
the need for effective implementation of supportive state policies,
he said "we have a fine policy framework on paper but it
must be implemented on the ground level fully and effectively
so that India could achieve its full potential."
Coal India profit doubles
DELHI, Oct 21. Having doubled its profit in the first half of
the current fiscal, Coal India Limited (CIL) has paid a dividend
of Rs. 181.32 crores to the Government for 2003-04. The dividend
cheque was today presented to the Minister of State for Coal and
Mines, Dasari Narayana Rao, by the Chairman-cum-Managing Director
of CIL, Shashi Kumar. Pradeep
Kumar, Additional Secretary (Coal), and other senior officials
of CIL and the Ministry were present on the occasion.
company has reported a profit before tax of Rs. 4,889 crores,
the highest ever, marking an increase of about 70 per cent over
the previous year.
The company has declared a dividend of 1.6 per cent on an equity
base of Rs. 6,316 crores. It has reported a profit of Rs. 2,347.22
crores for the first half against Rs. 1,151.53 crores
Indian Hotels' expansion plans
Oct 21: Indian Hotels Company Ltd. (IHCL) is looking to double
its size from 8,000 plus rooms over the next five years. The company
is in the process of expanding and renovating its rooms in several
of its properties. This year, the company will add 534 keys (rooms/suites)
and renovate 353 keys. Last year, the company incurred a capital
expenditure of around Rs 120 crores on this exercise and in the
current year, the capex will exceed Rs 100 crores.
to newsmen, Raymond Bickson, Managing Director, said, "the
goal is to expand beyond India through management contracts. We
have three focus areas of China, London and New York, which will
act as gateway cities. We would be equity partners in these areas.
However, it is best that we own assets in some areas and in others
enter into management contracts and take sliver equity".
company reported improved performance in the second quarter of
the current year. The net profit was Rs. 22.31 crores against
Rs. 3.50 crores in the same period of the previous year. Total
income was Rs. 182 crores (Rs. 143.30 crores). For the half year
ended September 2004, the net profit was up at Rs. 28.71 crores
(Rs. 7.24 crores) on a total income of Rs. 350.80 crores (Rs.
277.20 crores).The company provided Rs 16.9 crore (Rs 12.5 crore)
for interest, Rs 25.3 crore (Rs 22.9 crore) for depreciation and
Rs 8.5 crore (Rs 3.3 crore) for tax.
company's Budget hotels under the brand IndiOne have received
a good response in Bangalore. "We will have ten hotels under
IndiOne by this time next year. We are looking at secondary and
tertiary areas such as Gurgaon and Navi Mumbai," said Mr.
has a marketing alliance with Raffles International and is exploring
similar tie-ups for Cruise Lines and Luxury Cruise lines. The
company also launched its joint venture with CC Africa for safaris
during the year.
wins Rs. 1,774 crore contract
DELHI: Despite stiff competition from leading multinational equipment
suppliers in international competitive bidding, Bharat Heavy Electricals
Limited (BHEL) has won its first major contract from an independent
power producer (IPP) for a 1,000 MW thermal power project in Chhattisgarh.
Valued at Rs. 1,774 crores, the contract for the 4x250 MW Raigarh
thermal power station, has been placed on BHEL by Jindal Power.
- Our Special Correspondent
tops J D Power chart
DELHI: Maruti Udyog has topped the list of J D Power ranking for
the fifth year in a row in terms of customer satisfaction. J D
Power Asia-Pacific Country Manager Mohit Arora said "Maruti
Udyog continues to lead the industry on all factors that contribute
to overall customer satisfaction." J D Power, a market research
firm, conducts customer satisfaction research and provides consulting
services in the automotive, information technology and finance
India's biggest car-maker, has scored 813 points on an industry
average of 758 points. C K Birla group company Hindustan Motors
has been ranked second followed by the Opel brand of General Motors
India, Hyundai Motor India, Ford Motor and Toyota Kirloskar.
with a significant lead in Customer Satisfaction Index (CSI) performance,
Maruti is the only brand to rank above the industry average,"
he said in a statement. The study finds that due to the recent
sharp increase in fuel prices, the average cost of operation per
kilometre for both diesel and petrol models has gone up by nearly
25 per cent over the last year. Fuel cost accounts for over 85
per cent of the average cost of vehicle operation, which includes
the usage-dependent components of fuel, repair, maintenance and
study, now in its eighth year, measures the satisfaction of 3,550
new vehicle buyers with the dealership service experience at 12-18
months of ownership. Owners representing 11 makes and 27 models
were covered in the study, which was fielded from June-August
2004. Overall, diesel models registered lower operating costs
per kilometre than petrol models.
models performing particularly well in operating costs included
Tata Motors' compact car Indica and Indigo Sedan while Maruti's
entry-level car M800 and premium small car Alto "performed
very well' among petrol vehicles, Arora said. "Nearly two
out of three (62 per cent) Maruti customers indicate they definitely
will purchase another vehicle of the same make - the highest repurchase
intent in the industry," he said.
has surplus hydel potential
Oct 17: Himachal Pradesh is fast becoming as the `Hydel Power
State' of the country. The State has more than 20,000 MW of hydel
potential, which is about 25 per cent of the total available potential
of the country. Since the demand for power was growing at a much
faster pace than the availability of power, the Government had
assigned utmost priority to the power sector, according to an
Government has made a perspective plan to harness 2773 MW under
10th Plan and 7755 MW under 11th Plan. As such by the end of 2012,
at least 10, 528 MW potential was proposed to be added by execution
of various hydel projects in the State, he said.
claimed that the Government was adopting a prudent policy under
which projects would be developed in the State sector and private
sector besides joint venture between the State of Himachal with
Central Power Sector undertakings and with other State Governments.
Nathpa-Jhakri (1500 MW) and Chamera-II (300 MW) have been commissioned
in the recent past. At present seven hydroelectric projects with
aggregate generation capacity of 322.5 MW are under execution
under State sector by State Electricity Board.
order to give an extra boost to the transmission and distribution
side, a large number of schemes had been prepared to strengthen
the present transmission system under Accelerated Power Development
and Reform Programme. Under rural electrification, 173 hamlets
would also be electrified in a phased manner, he added.
to expand production capacity at four plants
By Deepak Arora
DELHI, Oct 4: IFFCO has unveiled capacity expansion plans of its
four plants at Phulpur and Aonla in the next two years along with
converting the Phulpur units to LNG from Naptha, entailing a cost
of Rs 480 crores. While the expansion of the four units -- Phulpur
I and II and Aonla I and II -- would yield an additional 5.11
lakh tonnes urea annually, the conversion to LNG would save Rs
365 crores in subsidy to the Government every year, according
to Mr U S Awasthi, Managing Director of the Indian Farmers Fertlizer
Awasthi said the expansion-conversion project has been approved
by the IFFCO Board. The capacity of Phulpur I will be increased
to 2080 MTPD from the present 1670 MTPD and that of Phulpur II,
Aonla-I and II will be raised to 3000 MTP each from the existing
said the capacity expansion plan will raise the urea production
capacity to 42 lakh tonnes from the present 36.89 lakh tonnes.
Project will also include the conversion of Phulpur plants from
Naphtha to LNG. This will reduce the production cost of Urea and
shall be in pursuant to the Government policy for switching over
Gas (NG) / Liquefied Natural gas (LNG).
In order to reduce the cost further, recovery of carbondioxide
from flue gases going to atmosphere in Aonla I & II units
is also to be carried out to meet the carbondioxide requirement
for converting total ammonia to urea.
Awasthi said the new pricing scheme for fertiliser by the Government
has considerably affected the survival of fertiliser industry.
To reduce the cost of production, he said IFFCO has already launched
Energy Saving Schemes in all five Ammonia-Urea plants at Kalol,
Phulpur I and II and Aonla I and II, which are under implementation
at various stages.
noted that such measures would make home-produced urea cheaper
than the imported one.
stake in new venture
DELHI, Oct 12: Indian Farmers Fertiliser Cooperative Limited (IFFCO)
alongwith National Commodity and Derivative Exchange Limited (NCDEX),
a few nationalised banks and Audit Control & Expertise, Geneva,
has decided to promote collateral management company named National
Collateral Management Services Limited (NCMSL). IFFCO would acquire
13 per cent equity in the proposed venture with an investment
of Rs. 4 crore.
new company, first of its kind in India, was incorporated on 28th
September, 2004. It shall act as a service provider to facilitate
linkages between the commodity exchange, banks and farmers. The
company will essentially be responsible for accreditation of warehouses,
certification of quality of goods stored in warehouses, controlling
of commodity inflow and outflow during physical settlement of
trade and dematerialised accounting of collateral.
investments are part of IFFCO's continuous efforts to bring overall
development in the living standards of the farming community and
are aimed at taking the benefits of commodity futures trading
to the grassroots, introducing transparency and reliability in
trading systems, facilitating improved short term commodity based
financing for farmers, equipping the Indian farmers with more
information by introducing an efficient price discovery and price
dissemination mechanism and providing an effective hedging tool
to the farmers to help them minimise their risks.
Collateral Management Services is also expected to remove the
anomalies relating to factors such as quality, quantity, storage
and safety currently prevalent in the warehousing and logistics
pays Rs 110 cr dividend
DELHI, Oct 5: The Indian Railway Finance Corporation (IRFC), a
dedicated financing arm of the Indian Railways, has declared a
dividend of Rs. 110 crores for the financial year 2003-2004. A
cheque to this effect was presented by the Managing Director Mr
S. Balachandran to the Union Minister of Railways, Mr Lalu Prasad,
here on Tuesday. The Chairman, IRFC and Financial Commissioner,
Indian Railways, Mrs Vijayalakshmi Viswanathan and Chairman Railway
Board Mr R.K. Singh were present, among other senior officials,
on the occasion.
is the highest dividend paid by a railway public sector undertaking
so far. With this, the cumulative return on an investment of Rs.
232 crores by the Indian Railways in IRFC works out to Rs. 742.5
posted a Profit After Tax of Rs. 378.85 crore for the financial
year 2003-2004. The Company invests its borrowings mainly in the
acquisition of moving infrastructure assets like locomotives,
coaches and wagons. During 2003-2004, assets valued at Rs. 2706.46
crore were commissioned by the railways.
Company has been rated "Excellent" for the seventh year
in succession and for 2002-2003, it has received an award from
the Prime Minister on September 4, 2004 for being one among the
top ten PSUs in the country. It has 'AAA' ratings from CRISIL
& ICRA and Sovereign Ratings from Moodys' & S&P's.
The company is efficiently managed with a small overhead to turn
over ratio of 0.113 per cent.
IRCON pays Rs 18.75 cr dividend
DELHI, Oct 5: The IRCON International Ltd., a public sector undertaking
under the Ministry of Railways, has posted a 380 per cent Annual
dividend amounting to Rs. 18.75 crores for the financial year
2003-2004. A Cheque to this effect was presented by the Managing
Director of the Company, Mr B.S. Kapur to the Union Minister of
Railways, Mr Lalu Prasad, in the presence of Chairman, Railway
Board and Chairman/IRCON, Mr R.K. Singh, Financial Commissioner
(Railways), Mrs Vijayalakshmi Viswanathan and other senior officials
of the Railway Board at a function here today.
has so far paid a cumulating dividend of Rs. 114.95 crores to
the Ministry of Railways against the paid-up share capital of
Rs. 4.95 crores.
is executing prestigious projects in India, like J&K projects
for the Ministry of Railways, and road projects for the National
Highway Authority of India (NHAI) and State Governments. Recently,
IRON has secured road projects in Ethiopia and Indonesia for the
first time and expects to secure at least two rail projects abroad.
This apart, IRCON is working in countries like Malaysia, Bangladesh,
Iran, Sharjah, Mozambique and UK.
awards for BHEL staff
DELHI, Oct 4 : EMPLOYEES of Bharat Heavy Electricals Limited (BHEL),
have yet again won the Prime Minister's "Shram Awards",
the country's highest honour bestowed on individuals for outstanding
achievements, leading to higher productivity, improved quality,
greater safety and foreign exchange savings.
is the eighteenth year, since inception, that BHEL employees have
won these prestigious awards, instituted by the Ministry of Labour,
Government of India, for workmen of Public Sector Enterprises.
awards were presented by the Prime Minister, Dr. Manmohan Singh,
at a function here on Monday.
BHEL employees have bagged the coveted PM's 'Shram Bhushan' Award,
carrying a cash prize of Rupees One Lakh and a Sanad, for the
year 2002 as well as 2003. While Mr. R.C. Malhotra, Chief Technician
at the company's Haridwar plant has been awarded the 'Shram Bhushan'
for 2002, a team of 3 employees from BHEL's Electroporcelains
Division (EPD), Bangalore has jointly won the award for the year
2003. The team comprises Mr. C. Hanumanthaiah, Mr. S. Titesh and
Mr. N. Rajashekhar.
the PM's 'Shram Vir' Award, carrying a cash prize of Rupees Sixty
Thousand and a Sanad is being awarded to Mr. S. Rajendran, from
BHEL's Electronics Division (EDN) for 2002 and Mr. Bhimappa P.
Dashyal from EPD, Bangalore for the year 2003.
addition, two 'Shram Shri' awards have been awarded to Mr. T.
Rajendran and Mr. S. Sandhanam, both from BHEL's Trichy plant,
for the year 2002, while one has gone to Mr. Mangilal from BHEL
Haridwar, for 2003.
Mr. R.C. Malhotra, the 'Shram Bhushan' awardee, has contributed
towards enhancing productivity by developing several fixtures
for machining operations in the manufacture of rotors and stators.
His innovations have resulted in savings of Rs.600 Lakh for the
company, including precious foreign exchange saving of Rs.100
Lakh for the country.
the 'Shram Bhushan' winning team from BHEL's Bangalore plant has
contributed significantly to the development and improvement of
several processes and equipment. In addition to the in-house development
of burner blocks as an import substitute, their efforts towards
improving productivity and efficiency of various processes through
innovative ideas, has resulted in cumulative savings of Rs.350
Lakh to the company.
honours two Cooperators at AGM
DELHI, Sept 30: Krishak Bharati Cooperative Limited (KRIBHCO),
a premier fertiliser producing farmers cooperative, has honoured
two eminent cooperators at its 24th annual general body meeting
for their pioneering works in promoting the cooperative movement
as a catalyst for national development.
For the year 2002-2003, KRIBHCO conferred "Sahakarita Shiromani"
award on Mr Shivpal Singh Yadav from UP and "Sahakarita Vibhushan"
award on Mr Maganlal Dhanjibhai Vadavia from Gujarat. While Mr
Shivpal Singh Yadav, with his variegated experience loyalty and
sincerity, has immensely served the cooperative movement in the
country, Mr Maganlal Dhanjibhai Vadavia has transformed the lives
of thousands of people in Gujarat through his dedicated work towards
national and international cooperative education, planning and
annual general meeting that was presided over by the Chairman,
Mr Chandra Pal Singh, and attened by over 900 delegates, passed
the annual accounts of the Society. It was announced that the
Kribhco has had made a pre-tax profit of Rs. 219.51 crore during
the financial year 2003-04.
Society's plant at Surat produced 17.73 lakh MT of Urea and 11.17
lakh MT of Ammonia, operating at 103 per cent and 111 per cent
capacity utilisation respectively. In the history of KRIBHCO,
this year ammonia, urea and bio-fertiliser production and sales
are the highest.
Kribhco Managing Director, Mr V.N. Rai, informed the AGM that
the society had established 38 records during the year in the
fields of production, technology andmarketing of urea, ammonia,
seeds and bio-fertilisers.
declared Rs 25.51 cr dividend
DELHI, Sept 30: National Fertilizers Limited (NFL), a leading
producers of nitrogenous fertilizers with a market share of 16.9
per cent in domestic production, has declared dividend of Rs.
25.51 crores for the financial year 2003-2004. The Government
of India holds 97.64 per cent shares and major portion of this
dividend will go to the Government.
NFL Units recorded 100 per cent capacity utilization during 2003-04
with aggregate Urea production of 32.50 lakh tonnes - the everbest
production for any year so far. NFL has consistently been a profit
making Company. The Company, for the year 2003-04, declared a
net profit (before tax) of Rs. 121.96 crores after recording a
sales turnover of Rs.3387.62 crores by marketing 34.58 lakh MT
of fertilizers, the highest tonnage sold for any year so far.
The above includes sales turnover of Rs. 105.08 crores on account
of Industrial Products produced and sold during the year.
highlighting achievements of the Company at the 30the Annual General
Meeting held on September 29, the NFL Chairman and Managing Director,
Mr P.S. Grewal, informed that during first Six months of current
fiscal, the overall capacity utilization for Urea production of
NFL is 107 per cent. The Company has Five Urea Plants located
in the States of Punjab, Haryana and Madhya Pradesh with a total
installed capacity of 32.31 lakh MT of Urea.
Nangal Unit located in Punjab also produces Calcium Ammonium Nitrate
(CAN), which is the oldest plant of NFL. The Company also produces
and markets several Industrial Products, for which, the demand
on year-to-year basis is on an increase.
Grewal informed that the Prime Minister, Dr Manmohan Singh, on
September 4 awarded National Fertilizers Limited the "MERIT
CERTIFICATE for Excellence in the Achievement of MoU Target"
for the year 2002-03. The Company also expects "Excellent"
rating from the Government for the year 2003-04.
has undertaken several productivity measures towards cost reduction
and energy improvements to effectively handle the situation emerging
also highlighted the thrust given by the Company on the production
and marketing of Neem-Coated Urea. The Company has decided to
produce Neem-Coated Urea at all its Plants to match its growing
demand in the market. Presently, Neem-Coated Urea is being produced
at Panipat & Bathinda Plants of NFL. NFL is the First Company
in Fertilizer Industry in the country to have its total business
covered under ISO-9001: 2000 Certification.
targets flat TV, fridge segments for growth
OCTOBER 6: Samsung India Electronics Limited, subsidiary of Korean
electronics major Samsung, has identified flat TV and frost-free
refrigerators as the major growth of the company in coming years.
The flat TV segment was witnessing the highest growth followed
by plasma displays and LCDs, Samsung India director R Zutshi told
said the frost-free refrigerator segment was also growing at a
substantial rate in the country. Commenting upon the revenue performance
of the company, he said in the last financial year, Samsung clocked
a turnover of Rs 3700 crore. He said the company was targeting
a turnover of Rs 5273 crore in the current financial year. Contribution
of flat TVs was going up significantly as compared to traditional
curved ones, Zutshi said.
about investment plans, he said Samsung would invest around Rs
23 crore in the home appliances division for manufacture of air-conditioners
and heat exchangers. Samsung had identified India as the head
quarters for South West Asia.
HSBC plans to invest $400 mn in India
6: Hongkong and Shanghai Banking Corporation (HSBC) is looking
at investing over $400 million in India with organic growth driving
expansion. The foreign bank plans to open five-10 new branches
and launch consumer finance business next year as part of business
India and China are strategically important markets over medium
and long term and both are critical for future growth of the bank,
according to Micheal Smith, HSBC chief executive officer (Asia
cumulative investments in China is about $3 billion and it would
be comfortable for cumulative capital exposure of $1 billion or
more in India, Smith said. There is no specific time frame for
investments in India, he added.
India chief executive Niall Booker said the bank has invested
about $600 million in the country which includes financial investment
in UTI Bank.
Smith said: "the bank wants to grow fast through organic
route" and legal environment for acquisitions would not impact
HSBC would look at acquisitions, subject to regulations, it would
prefer organic route for growth despite longer payback period
than pay a premium for acquisition.
about the investment in UTI Bank, he said it was a financial investment
and would be happy to broaden business relationship. "We
have plans to open five-10 branches in 2005 and will prepare plans
and seek Reserve Bank of India's permission for the same,"
launching consumer finance business (CFB), he said the bank has
skill sets within organisation for CFB which is a business line
in itself. CFB is also a marketing tool to get customers at the
beginning of value chain, he added. HSBC could start CFB through
non-banking finance company or some other arrangement, he said
adding the bank would look at regulatory trade-off before finalising
structure for it.
on setting up a research unit for investment banking segment,
Booker said it is yet to crystalise into business plan and one
official is stationed in Bangalore to do the groundwork. Smith
said the bank is looking at opening service centres to meet banking
group needs and also look for business outside group. The quality
of staff and language are critical issues before us while preparing
plans for this centre, Smith added.
LG Electronics sees $10 b India sales by 2010
OCTOBER 6: South Korea's LG Electronics Inc said on Wednesday
it aimed to boost investment in India and raise sales there almost
10-fold to $10 billion by 2010, helped by brisk sales of home
appliances and mobile phones. LG, the world's top maker of air
conditioners, said in a statement it would boost investment in
its second-largest overseas market to $150 million by 2007 to
expand facilities and build research and development efforts.
It projected $1.3 billion sales from India this year, up from
$900 million in 2003.
bold investments and securing top-class technological prowess,
LG Electronics is committed to making India its second-largest
global production base after China," its chief executive
SS Kim said in the statement. "We will achieve $10 billion
in sales in India by 2010 to leap toward the global top-three
the new investment, the world's sixth-largest mobile phone maker
is looking to double its R&D staff in India to 1,500 by 2007
to develop premium products. It hopes to export 30 per cent of
its made-in-India products to Asia, West Asia and African markets
by the same year.
LG Electronics manufactures TVs, refrigerators, air conditioners,
washing machines, electronic ovens and computers in India. It
plans to add a handset production line to its second new plant
in the country, which is currently under construction, to give
annual production capacity of two million mobile phones.
meet booming demand for its mobile phones, LG Electronics, a unit
of South Korea's second-largest conglomerate, planned to expand
handset capacity to an annual 10 million units in India by 2010,
Suzuki diesel engine plant in Haryana to be export hub
TTO News Service
DELHI, Sept 14: Maruti Udyog Ltd's directors have approved a proposal
that the forthcoming diesel engine manufacturing plant ton be
set up in Haryana will be controlled and managed by Suzuki Metal
India Limited, a joint venture between Maruti Udyog Limited and
Suzuki Motor Corporation of Japan. Suzuki Metal India Limited
currently operates a Foundry Plant located in Manesar, Haryana
and manufactures engine components like Aluminum castings, cylinder
blocks, transmission cases and cylinder heads.
is proposed to rename Suzuki Metal India Limited as Suzuki Engineering
India Limited to reflect the increased scope of its business.
Earlier, the diesel engine manufacturing plant was expected to
meet the requirements only of Maruti Udyog Limited. It has now
been decided that in addition to meeting the requirements of Maruti
Udyog Limited, diesel engines manufactured here will also be exported
to Suzuki subsidiaries/joint venture companies in Asia including
in Indonesia, China and Japan.
diesel engine manufacturing plant will be located in Manesar,
Haryana, but away from the Foundry Plant of Suzuki Metal India
It may be mentioned that Suzuki Motor Corporation, the parent
company of Maruti Udyog Limited, recently entered into a Product
License Agreement with Fiat Auto and Adam Opel, Europe, to obtain
Technology for the manufacture of a 1.3 litre, state-of-the-art
diesel engine based on Common Rail Injection System.
the Agreement, a new facility to manufacture diesel engines for
cars is being set up. The new facility will have capacity to manufacture
100,000 diesel engines annually. It will begin production in 2006.
Suzuki owns 54.2 percent of Maruti, India's largest car maker.
an agency report stated that Suzuki Motor Corp said on Tuesday
that no decision had been made yet on the participation of Maruti
Udyog Ltd in a diesel engine plant to be constructed in India
in two years. A day earlier, Suzuki Chief Executive Osamu Suzuki
said the Japanese small car and mini-vehicle maker would take
the lead in the diesel engine project, and said Maruti's role
had been misunderstood. A Suzuki spokesman said the new 100,000
units a year engine plant could be a joint venture with Maruti
or wholly owned by Suzuki, and that no decision had been reached.
He added that a separate company would be formed to foster competition
between it and Maruti's existing petrol engine plant.
launches Getz in India
DELHI, Sept 10: Korean auto giant Hyundai Motors has rolled out
its international favourite 'Getz', a new variant in between 'Santro'
and 'Accent' segment, in India and said it expects to sell 8,000
units of the new car by this fiscal-end.
as premium hatchback, the 1300cc petrol-driven Getz has two trim-levels
-- GL and GLS -- priced at Rs 4.50 lakh and 4.75 lakh (ex-showroom,
euro-styled Getz is an upgrade option for existing B-segment (Santro,
WagonR and Zen) owners and pitched against the Ikon, Esteem and
aim to sell 8,000 Getz by the end of the current fiscal and our
total vehicle sales are likely to be around 2.20 lakh units, despite
a three-month production loss'' Hyundai Motor India Ltd (HMIL)
Managing Director B H Sung told newspersons after unveiling the
much-admired European lifestyle brand here.
out that the demand for Getz is around 2,000 units per month,
Mr Sung said the company expects to deliver only 1,000 units in
the first two months as the capacity expansion work is still going
and expected to be over by December.
Getz has been adjudged 'Europe's Car of 2002' and 'Australia's
Best Small Car in 2003'.
we have no concrete plan to look India as base for exporting Getz.
In future, it may be a possibility,'' HMIL President B V R Subbu
said, adding that the present 65 per cent local contents in the
new vehicle will be raised up to 80 per cent in the next 12 months.
in nine colours, the Getz GL-GLS version is priced at Rs 4.71
lakh-4.98 lakh in Mumbai, Rs 4.57 lakh-4.82 lakh in Bangalore,
Rs 4.57 lakh-4.82 lakh in Kolkata and Rs 4.54 lakh-Rs 4.79 lakh
in Chennai, respectively.
Subbu said Hyundai has invested an additional 220 million dollars
to expand capacity of its Chennai facility to be around 2,50,000
cars-a-year by 2004-05 against 2,00,000 cars last fiscal.
Rs 6,000-crore HMIL expects a 20-22 per cent topline growth in
the business year to March 31, 2005.
on the growing acceptance among global buyers for made-in-India
compact cars, Hyundai Motor India has driven home export earnings
to the tune of Rs 1,000 crore in the first 8 months of 2004.
its small car Santro Xing now being sourced by global majors like
DaimlerChrysler, the company has projected to earn Rs 1,700 crore
in exports this fiscal, a 55 per cent jump year-on-year.
DELHI, Aug 31: The Government has conferred Miniratna Status for
category - I Public Sector Enterprise to Housing and Urban Development
Corporation Ltd. (HUDCO), a public sector undertaking under the
administrative control of Ministry of Urban Employment and Poverty
& Urban Development Corporation Ltd. (HUDCO) was incorporated
in 1970 as a fully owned Government Company under the Companies
Act, 1956 with the main objectives of financing Housing and Urban
development projects in the country, to finance Building Material
Industries and setting up of new township.
order to achieve these objectives HUDCO finances a variety of
housing and urban development projects formulated by the State
Housing Boards, Development Authorities, Improvement Trusts, AND
Co-operative Housing Societies.
the years HUDCO has emerged as the leading public financial institution
with the major objective of financing and encouraging housing
and urban development activity in the country and has developed
sound capabilities of project preparation, appraisal, financial
planning and monitoring.
2003-04, as on March 31, 2004, HUDCO sanctioned loans of Rs. 13413
crore for various housing and urban infrastructure schemes against
the target of Rs. 10000 crore. The actual loan released by HUDCO
during the same period was Rs. 6147 crore against the target of
Rs. 6000 crore. The assistance has been instrumental in supporting
construction of about 9.70 lakh dwelling units, over 15.31 lakh
sanitation units and 143 urban infrastructure projects.
sanctioned housing loans of Rs. 3102 crore against the target
of Rs. 3000 crore, which facilitated 9.70 lakh dwelling units,
including 4500 units under HUDCO Niwas. Out of these. 959373 dwelling
units are meant for EWS/LIG categories. During the year 2003-04,
an amount of Rs. 128 crore was sanctioned for 4500 applicants
and Rs. 163 crores was released for 6075 applicants under HUDCO
Niwas, the retail housing finance scheme meant for individual
(upto 31.03.2004), HUDCO has sanctioned a total loan amount of
Rs. 22999 crores (excluding HUDCO Niwas) for construction of over
139.14 lakh dwelling units, out of which 132.16 lacs dwelling
(95%) have been sanctioned loans of Rs. 4092 crores for 424733
units for HUDCO Niwas.
the year 2003-04, a total of 143 UI projects were sanctioned with
a total project cost of Rs. 32,042.09 crores and HUDCO loan component
of Rs. 10,311 crores (as against the target of Rs. 7000 crores).
for supporting the infrastructure projects, an amount of Rs. 4848
crores was released against the target of Rs. 4200 crores. The
projects sanctioned include 37 water supply schemes, 10 sewerage/drainage/solid
waste management schemes, 3 commercial schemes, 1 area development
scheme, 24 transport/roads/railways schemes, 44 social infrastructure
schemes, 17 power projects, 3 projects under the scheme of Integrated
Development of Small & Medium Towns (IDSMT) and 2 information/
Toyota launch cashless auto repair insurance
DELHI, Aug 13: Iffco-Tokio General Insurance (ITGI) and Toyota
Kirloskar Motor (TKM) have come together to provide cashless insurance
service for Toyota customers.
all Toyota customers would be able to insure and undertake cashless
repairs of insured vehicles and parts at all the 3S Toyota Dealerships.
Through this tie-up, Toyota will be able to offer its customers
relief from problems related to post-accident repairs and recovery
of insurance claims by providing complete support from the Toyota
MOU was signed here recently to commence the new relationship.
Mr. Ajit Narain, Managing Director, ITGI, and Mr. A Toyoshima,
TKM Managing Director signed the MOU. Mr. Jun Hemmi, Director
Operations, ITGI and Mr. K.K Swamy, Deputy Managing Director,
TKM were also present. First policy under the tie-up was issued
at the venue of the function and handed over to customer.
association with Toyota enables ITGI to reach customers and addressing
their needs. This alliance is in tandem with the Toyota value
of 'customer first'. Tokio-Marine and Fire Insurance Co Japan
who are JV partners in ITGI have an immensely successful relationship
with Toyota internationally.
by tying up in India now, not only a globally successful relationship
is introduced to the country, but also the Indian automobile customers
receive a service combination that has been tried and tested internationally.
The customer gets the additional many benefits under this tie-up.
It will be a one stop-shop - very convenient and hassle free for
customer for all his needs. It will also offer customers' instant
issue of new policies and their renewal at dealer location. It
will enable customers to complete all insurance related transactions
at the show room itself.
gets cashless facility. Under this arrangement customer will be
able to carryout repairs at the 3S dealerships without having
to bother about survey and assessment formalities including paying
for repairs and claiming reimbursement thereafter from Insurance
company. The 3S dealerships will arrange for survey of vehicle
and assist in completing the other formalities at dealer centre
will save customers from this time consuming procedures involved
before claiming for insurance. The customer need not remit repair
charges, as the dealer from the insurance company will directly
claim the assessed amount payable under the policy. Overall the
process promises to be a hassle free and convenient service for
wholly owned retail distribution arm, IFFCO- Tokio Insurance Services
Ltd.(ITIS) with its presence in 68 centres spread across the country
and rapidly expanding, would take care of servicing Customers
through a dedicated person at Toyota's Dealer point.
addition to the benefits for the customer, the insurance promises
to be a win-win partnership for both the dealers and the insurance
partner. This service will strengthen relationship between the
customer and the dealer as well as between the customer and the
insurance company. In turn, the convenience of cash-less transaction
for post accident repairs provided by Toyota motivates customers
to come in for repairs at Toyota dealerships, thereby protecting
them from spurious parts.
emerges third largest fertilizer producers in the world
DELHI: India has become the third largest fertilizer producer
in the world with the installed capacity reaching a level of 119.98
lakh MT of Nitrogen and 54.20 lakh MT of Phosphatic nutrient on
March 31 this year.
the years increase in the fertilizer production capacity in the
country has been rapid. As of now the country has achieved near
self-sufficiency in production capacity of Urea and DAP, with
the result that India could manage its requirement of these fertilizers
from indigenous industry.
rapid build up of fertilizer production capacity in the country
has been achieved as a result of a favourable policy environment
facilitating large investments in the public, co-operative and
private sectors. This is indicated in the annual report of the
Department of Fertilizers, Ministry of Chemicals and Fertilizers.
domestic fertilizer industry has attained the level of capacity
utilization that compares favourably with others in the world.
The capacity utilization during 2002-03 and 2003-04 was 87.2 per
cent and 88.6 per cent for Nitrogen and 72.8 per cent and 67 per
cent for Phosphate respectively. The capacity utilisation of the
fertilizer industry is expected to improve through revamping,
modernization of the existing plants and closure of unviable capacity
of sick fertilizer units.
to the report, the Department of fertilizers is in the process
of formulating a long-term fertilizer policy that will aim at
phased deregulation of the fertilizer sector. A committee was
constituted under the chairmanship of Secretary, Fertilizers,
with representatives from the fertilizer industry, media and others
to examine responses to the draft policy.
availability of urea, which is the only fertilizer under price
and partial movement control of Government, remained satisfactory
throughout the Kharif 2003 season and Rabi 2003-04. DAP and MOP,
the major decontrolled and decanalised fertilizers are freely
imported. In Kharif 2003, 4.65 lakh MTs of DAP and 10.81 lakh
MTs of MOP was imported.
joint ventures abroad, the report points out that due to constraints
in the availability of gas, which is the preferred feedstock for
production of nitrogenous fertilizers and the near total dependence
on imported raw materials for production of phosphatic fertilizers,
the Government has been encouraging Indian companies to establish
joint venture production facilities, with buy back arrangement,
in other countries, which have rich reserves of natural gas and
doyen Paul Pothen passes away
DELHI, Aug 3: Padamshri Paul Pothen, doyen of Indian fertiliser
industry and founding Managing Director of IFFCO, passed away
on Tuesday at Kochi in Kerala after a protracted illness. He was
88 and is survived by his wife, a son and a daughter. Mr
Pothen, a legend and a visionary of his time, had been instrumental
in tending and nurturing IFFCO in its formative years. He worked
for FAO, UNIDO and World Bank as Consultant. He was conferred
Padamshri in 1977.
of Directors in its meeting held on July 30, 2004 under the chairmanship
of Mr Surinder Kumar Jakhar had already taken a decision to rename
the IFFCO township in Aonla near Bareilly as Paul Pothen Nagar
and install his statue in the township to commemorate his valuable
services not only to IFFCO but also to cooperative movement as
IFFCO Managing Director, Mr U.S. Awasthi, personally reached Kochi
to convey his heartfelt condolences on behalf of IFFCO to the
members of bereaved family of this octogenarian architect of world's
largest cooperative. He stayed in Kochi to offer solace to the
bereaved family and participated in the funeral.
Management at a condolence meeting paid rich tributes to Mr Pothen
and recalled his inspired leadership and foundation provided to
the Society at its infancy stage.
launches all new Esteem
DELHI, July 5: India's largest carmaker, Maruti Udyog Ltd, on
Monday launched a new, upgraded Esteem. It comes in a refreshing
new front styling, with a new bonnet, multi reflector clear headlamps,
new bumper and new chrome grille.
rear has been redesigned with multi-reflector clear tail lamps
and new boot garnish. Besides, its plush new upholstery, silver
finished dashboard garnish and controls, a sportier speedometer,
chrome tipped parking lever and metal finished gear lever, make
for refined interiors. The new Esteem also comes with tubeless
new Esteem will be offered in a new metallic colour: Fawn Mist.
It will continue to be available in Silky Silver, Pearl Silver,
Acqua Blue, Midnight Black and Superior White. The company also
announced that it had cut prices of its new look compact sedan
Esteem by at least Rs 40,000 to increase its share in the rapidly
growing mid-sized segment.
54.2 per cent owned by Japan's Suzuki Motor Corp, has a 47 per
cent share of the Indian car market and competes mainly with the
local unit of Hyundai and domestic firm Tata Motors Ltd. "Our
initiatives on the new Esteem are in line with Maruti's increased
focus this year on the A3 segment (mid-sized) of the domestic
passenger car market," Maruti Udyog managing director Jagdish
Khattar told newsmen soon after the launch.
mid-sized segment contributes nearly 20 per cent of overall car
sales of nearly 700,000 units a year and is growing at 15 per
three petrol versions of the Esteem would now be available between
Rs 4.25 lakh and Rs 4.9 lakh compared with Rs 4.67 lakh and Rs
5.4 lakh earlier. These showroom prices are for Delhi. Rates of
two diesel models remain unchanged. The last major upgrade of
Esteem was in Year 2000, when it received an all-aluminum 1300cc
MPFI engine that generates a BHP of 85 @ 6000 rpm.
sales of Esteem grew nearly 11 per cent in 2003-04. Customers
rated it as "Best Entry Mid Size Car" in J D Power Initial
Quality Study 2003. It was also the car with "Lowest Cost
of Ownership" in its category in the NFO Automotive Cost
of Ownership Study 2003. Nearly 1.75 lakh Esteem cars have been
sold so far. Despite growing competition in recent years, the
Esteem has maintained its sale volume, said Mr Khattar.
said the new Esteem is part of Maruti's strategy to increase its
share in the rapidly growing A3 Segment of the domestic passenger
car market this year. In January 2004, the company had launched
a new variant (LXi) of its premium sedan, Baleno, and undertaken
a massive advertising campaign highlighting the car's "Surprising
Performance". Those measures yielded results and Baleno sales
have grown by over 250 per cent in the first half of this calendar
net profit up in Q1
NEW DELHI, July 26: Maruti
Udyog Limited has recorded net profit of Rs 1709.2 million during
April-June 2004 quarter, a growth of 42.1% over the same period
last year. Profit before tax was Rs 2672 million during April-June
2004, a growth of 55.1% over the same period last year. Maruti's
total income (net of excise) was Rs 26164.6 million during April-June
2004, a growth of 24.1 per cent compared to the same period last
year. The company sold 123,624 vehicle units during April-June
2004. This included exports of 12,240 units.
the domestic passenger car industry grew by 19.4 per cent in April-June
2004, Maruti's passenger car sales in the domestic market grew by
21.1% during this period. The company's marketshare in the domestic
passenger car market increased from 55 per cent in April-June 2003
to 55.8 per cent in April-June 2004. The company attributed its
performance during April-June 2004 to higher sales volume, and the
benefits from its on-going program to enhance productivity and reduce
costs across the value chain.
cap in aviation, insurance hiked
DELHI, July 8: The Finance Minister, Mr P Chidambaram, has proposed
a hike in sectoral caps in telecommunications, civil aviation and
insurance keeping pace with the rapid changes in these areas.
In telecommunications, the existing cap of 49 per cent will be hiked
to 74 per cent. In civil aviation, it is proposed to be increased
from 40 to 49 per cent while in insurance the cap has been raised
to 49 per cent from 26 per cent, he added.
this during the presentation of Union Budget 2004-05 in the Lok
Sabha, the Finance Minister stated that the FDI has the potential
to add a competitive edge, especially in the industrial sector.
The Common Minimum Programme declares that FDI will continue to
be encouraged and actively sought, particularly in the areas of
infrastructure, high technology and exports. Three sectors of the
economy namely, telecommunications, civil aviation and insurance
fully meet this description, he said.
sets new benchmark in hydro power history
DELHI, June 21: Nathpa Jhakri project of the Satluj Jal Vidyut Nigam
Ltd (SJVN), whose final sixth unit was commissioned in May this
year, provided 422 MW of much needed power to Delhi. This is much
above the 142 MW allocated to the Capital, according to Mr Y N Apparao,
Chairman and Managing Director of the corporation.
Though Delhi has been allocated 9.47 per cent of the total 1500
MW installed capacity, the SJVN orovided 26.47 per cent of power
to bring relief to Delhi-ites from the scorching heat.
the social and economic upliftment of the people in its vicinity,
the 1500 MW hydro project generates 6950 MU of electrical energy
in a 90 per cent dependable year. It also provides 1500 MW of valuable
peaking power to the Northern Grid.
first unit of Nathpa Jhakri hydro-electric project was synchorinsed
with the grid on September 20, 2003 and it was declared under commercial
operation on October 6. The second unit commenced commercial operation
on January 4 this year, the third unit on March 30, the fourth on
March 31 and the fifth unit was declared under commercial operation
on May 6 this year.
to this correspondent in an exclusive interview, Mr Apparao said
"the commissioning of six 250 MW units within a period of six
months from the commencement of commercial operations of the first
unit, has been treated as a bench mark in the hydro power history
of the country."
CMD informed that Delhi has been given the maximum allocation from
the project, which is a joint venture of Central and Himachal governments.
The allocation for the other States is Haryana 21.27 per cent, Himachal
Pradesh 2.47 per cent, Chandigarh 0.53 per cent, Rajasthan 14.47
per cent and Uttar Pradesh 14.73 per cent.
successfully commissioning the country's prestigious 1500 MW Nathpa
Jhakri Project, Mr Apparao said the corporation plans to invest
Rs 13,000 crore to develop 2,500 MW of additional hydro-power generating
capacity. The five more projects in Himachal on river Satluj and
two in Uttaranchal would help the corporation reach its target 4000
MW of power generation in five years.
the projects identified in Himachal, the Corporation has already
commenced investigation works for the 439 MW Rampur hydro-electric
project. This project being implemented down stream of the Nathpa
Jhakri Project on river Satluj is slated to be completed within
five years at a estimated cost of Rs. 2308 crore.
project will utilise the desilted tailrace water of the Nathpa Jhakri
project thus eliminating the need for constructing a separate dam
and desilting chambers. This will not only make the Project cost
effective but also lead to its faster execution," he said.
the other four identified projects in Himachal Pradesh, upstream
on river Satluj, investigation works for making the Detailed Project
Reports have also been commenced. These projects will be executed
within five years from the date of commencement.
Chairman said SJVN is exploring possibilities of taking up execution
of two projects in the adjoining state of Uttaranchal. These two
projects would be implemented on Dhauliganga River. With the expertise
gained in executing this mega project, the corporation aims at implementing
the new projects with latest technology expeditiously with utmost
controls on time and cost over-runs.
Apparao said the corpration plans to tap various avenues, including
the World Bank for funding the projects.
Corporation's expertise in underground works viz. one of the world's
longest and largest hydropower tunnel, the world's largest disilting
chambers and the country's largest underground power house complex,
makes it a potential underground specialist organisation. The expertise
gained can be useful for various types of tunnelling for hydro,
water resources, irrigation and highways. He
said the Corporation is also exploring possibilities of taking up
projects in other states of the country in the times to come.
SJVN (formerly Nathpa Jhakri Power Corporation Limited) was incorporated
on May 24, 1988 as a joint venture of the Government of India (GOI)
and the Government of Himachal Pradesh (GOHP) to plan, investigate,
organize, execute, operate and maintain Hydro-electric power projects
in the Satluj river basin in the state of Himachal Pradesh and at
any other place.
to extend consultancy services abroad
DELHI, June 22: Satluj Jal Vidyut Nigam Ltd (SJVN), which has established
benchmarks in executing and expeditious commissioning the Country's
largest 1500 MW Nathpa Jhakri hydro-electric power project in Himalchal
Pradesh, has now begun extending its consultancy services not only
in India but has abroad.
to this correspondent, the SJVN Chairman and Managing Director,
Mr Y N Apparao, said Consultancy Development Centre (CDC), New Delhi,
have approached the Corporation for preparing feasibility studies
for hydroelectric projects in Afghanistan through Afghanistan Reconstruction
Development Services (ARDS), Ministry of Water and Power.
Corporation has already prepared pre-feasibility reports (PFRs)
for Khab-I and Khab-II hydroelectric projects on river Satluj for
Central Electricity Authority under the Ministry of Power. The final
DPRs for these projects are also being prepared by SJVN Ltd,"
said Mr Apparao.
Chairman said the corporation has also provided consultancy Services
to Independent Power Producers (IPPs) Bobba Power Projects Limited,
Bangalore and Mount Kailash Power Projects (P) Ltd, Bangalore, for
techno-economic viability of two hydel schemes namely Mulibetu (10.5
MW) and Mannapitlu (15 MW) located in Karnataka.
Railway Corporation (KRCL) have sought consultancy from us for their
underground works i.e. tunnels being constructed by them for Udhampur-Srinagar
railway line," he added.
Apparao informed that Uttaranchal Jal Vidyut Nigam Ltd, Dehradun
have also approached the Corporation for reviewing the design of
Head Race Tunnel, Power House and Butter fly Valve house of Maneri
Bhali HEP (Stage-II) . UJVNL has also approached us for consultancy
on a 100m high gravity dam on river Song near Dehradun city, besides
many other projects in Uttaranchal. Another independent power producer,
Patikiri Power Corporation (P) Ltd, New Delhi, have also sought
consultancy for their 16 MW power project in District Mandi in Himachal
Pradesh, from SJVN Ltd, he added.
furthering the need of promoting eco friendly hydel power, the Corporation
is organising a meeting of the hydro-power professionals at New
Delhi. The meet will address the importance of sustaining ecology
in hydropower development in the country.
Apparao said the Corporation has also set up a high-tech Hydel Training
Institute at its Nathpa Jhakri project in Himachal Pradesh where
professional training in the field of hydropower development is
being imparted to the participating delegates. The Corporation is
fully equipped to extend its expertise and consultancy services
in any part of the country and abroad, he said with confidence.
The SJVN was formerly known as Nathpa Jhakri Power Corporation Limited.
Jakhar elected IFFCO Chairman
DELHI, May 21: Mr Surinder Kumar Jakhar has been unanimously elected
Chairman of world's largest fertiliser cooperative, Indian Farmers
Fertiliser Cooperative Limited (IFFCO), by the Board of Directors
at its 31st Annual General Body Meeting held today. Likewise, Mr
N.P. Patel has been re-elected Vice-Chairman of this premier cooperative
institution for the second successive term.
Mr K. Srinivasa Gowda is taking new responsibility as Chairman of
IFFCO Tokio General Insurance Company Limited (ITGI). Mr Gowda is
a very senior cooperator and is presently a Member of Karnataka
Mr Jakhar, a renowned cooperator, during his long and illustrious
career, has made significant contribution aimed at accelerating
the agricultural and rural development. A widely travelled person,
he carries with him rich and varied experience in the field of agriculture
Ajit Kumar Singh, Vithalbhai H. Radadia, Sheeshpal Singh, Raj Kumar
Tripathi, Balvinder Singh Nakai, R.P.Singh, and K. Srinivasa Gowda
have also been elected on IFFCO's Board for a period of five years
by around 1000 Representative General Body members representing
around 37,000 cooperative societies all over the country.
operating turn-over by RITES
Rail India Technical and Economic Services Ltd. (RITES), a public
sector undertaking under the Ministry of Railways, has posted
a record operating turnover of Rs. 267 crores for the financial
year ended March 31, 2004 as against Rs. 254 crores during the
previous year. Total turnover excluding extra-ordinary items increased
from Rs.269 crore to Rs. 285 crore. The overseas business grew
from Rs. 92 crore in the previous year to Rs. 109 crores. The
profit before tax excluding extra-ordinary items registered an
impressive growth of 72 per cent from Rs. 47.83 crores during
the previous year to Rs. 82.55 crores.
the year the company issued bonus shares in the ratio of 1:1 and
the paid up capital of the company increased from Rs.2 crores
to Rs. 4 crores. Backed by the excellent results, the Company
declared a record dividend of 400 per cent on the enhanced capital,
amounting to Rs.11.67 crores, inclusive of the 150 per cent interim
dividend paid. This is against last year's dividend of 250 per
the 12th year in succession, the Department of Public Enterprises
has awarded "Excellent" rating to RITES on its performance
of the year 2002-2003. RITES has been conferred with the "Top
Exporters" Award for the year 2002-2003 by Engineering Exports
Promotion Council-Northern Region and SCOPE Award for excellence
and outstanding contribution on the Public Sector Management for
the year 2002-2003.
the 30th Annual General Meeting of the Company, Chairman (RITES)
and the Member Mechanical, Railway Board, Mr P.N. Garg, said that
in the face of an extremely competitive international scenario,
RITES succeeded in securing challenging and prestigious assignments
in Uzbekistan, Uganda and Sudan. During the year the company executed
contracts in UK, Sharjah, Malaysia, Tanzania, Ethiopia, Botswana,
Mozambique and Vietnam, amongst others, he added.
home, the company is executing major consultancy and project management
contracts in the areas of Railways, Power, Construction and Quality
assurance, including quality and safety audit.
records Rs 266.54 cr profit
By Deepak Arora
DELHI: Housing and Urban Development Corporation Ltd (HUDCO) plans
to become more competitive in the field of housing loans to meet
the challenge from the private and public sector banks. Speaking
to this correspondent, the new Chairman and Managing Director of
Hudco, Dr P S Rana, stated the corporation was keen to have a big
pie of the loans being taken by individuals and organizations in
the booming housing sector. Board members Mr R S Prasad, Mr G R
Karunakar and Mr R K Khanna flanked Dr Rana.
Rana stated that Hudco had recently brought down the interest rates
for individual home loans under the Hudco Niwas by 1.25 per cent
to 8.25 per cent against the existing rate of 9.5 per cent. Only
two years ago Hudco Niwas was offering loans at 12.75 per cent.
The current market rates vary between 8 and 9 per cent.
the competitive rates being offered by some private banks, the CMD
said that some banks, which had initially reduced their interest
rate for the first year to 6 per cent, had announced increase in
the interest rates. While warning public to read in between the
lines before signing for such deals, he said "we will be more
said Hudco has been contributing to all income categories of the
people to meet their habitat requirements. However, a significant
emphasis has been given to the weaker section and low-income housing
with 95 per cent of the total dwelling units sanctioned by Hudco
being for those categories in the urban and rural areas.
Rana stated that with the total support and commitment of the Government,
Hudco would continue to grow and contribute to the housing and urban
development sector with special emphasis on the poorer section of
the society through various Government Action Plan schemes such
as Valmiki Ambedkar Awar Yojna, Night Shelters and two million housing
details of the company for the financial year 2002-03, the CMD said
Hudco has posted an all time profit of Rs 266.54 crore (after tax
and provisions) as against Rs 114.06 crore during the year thereby
registering a growth of 133 per cent. He said the net worth of company
has increased to Rs 2,724.05 crore at the end of the financial year.
Rana said Hudco has achieved sanctions of Rs 15,627 crore as against
Rs 8,141 crore during the year thereby registering growth of 92
loans have been sanctioned for variety of projects including housing
for weaker sections of the society under VAMBAY schemes of the Government
of India, infrastructure projects such as water supply, roads, drainage
system, integrated development of townships and many other innovative
has made fresh disbursement of Rs 8,180 crore as against Rs 4,662
crore during the year recording a growth of over 75 per cent.
its inception, Hudco has sactioned over 15,040 housing and urban
development projects. These projects are worth Rs 92,357 crore for
which Hudco loan commitment is of Rs 53,866 crore.
Rana informed that the public deposit scheme has become one of the
most popular deposit scheme with adequate safety and variety of
liquidity options. Hudco has mobilized fresh deposits of Rs 836
crore during the year as against Rs 393 crore during the year recording
growth of 113 per cent.
Department of Public Enterprises has rated Hudco's performance against
MOU targets as "excellent" for the year 2002-03.
the future plans, he said the company plans to establish Hudco Haats
in all the State Capitals as "permanent building technology
exposition and housing guidance center". These Haats would
also act as a "one step shop" Building Technology Park
to provide for necessary guidance on access to technologies and
building materials, property advisory services and housing finance
Rana stated that Hudco, in collaboration with the State Governments,
would facilitate setting up of Habitat centers in various States
on the pattern of the India Habitat Center in Delhi.
great contributions towards housing, upliftment of poor
DELHI, Dec 17: Housing and Urban Development Corporation Ltd (HUDCO)
continues to be a great contributor for the development of housing
and urban infrastructure in the country. The company would continue
to lay special emphasis on the poorer section of the society through
various action plan schemes such as Valmiki Ambedkar Awas Yojna,
Night Shelter and two million housing programme, according to Dr
P S Rana, Chairman and Managing Director of Hudco.
its inception, the new CMD said Hudco has sactioned over 15,000
housing and urban development projects. These projects are worth
Rs 88,971 crore for which Hudco loan commitment is of Rs 52,912
crore (Housing Rs 24,659 crore and urban infrastructure Rs 28,253
crore). Against the sanctions, Hudco has release Rs 38,568 crore.
projects on completion would provide nearly 1.32 crore residential
units; over four lakh dwelling units for individuals under Hudco
Niwas; over 17,000 night shelter beds; over five lakh developed
plots and nearly 49 lakh sanitation units.
Rana, who recently took over as the CMD, said Hudco has been contributing
to all income categories of the people to meet their habitat requirements.
However, a significant emphasis has been given to the weaker section
and low-income housing with 95 per cent of the total dwelling units
sanctioned by Hudco being for those categories in the urban and
said the Prime Minister launched the Valmiki Ambedkar Awas Yojna
(VAMBAY) in December 2001 at Hyderbad as the first Central sector
housing scheme for the urban slum dwellers and the urban poor. VAMBAY
is a centrally sponsored scheme shared on a 50:50 basis with States.
The scheme is primarily aimed at ameliorating the housing problems
for the slum dwellers living below the poverty line in different
towns and cities all over the country.
allocation of Government of India subsidy for Vambay has been over
600 crore against which the Government of India's subsidy of 434
crore has been disbursed for construction of nearly two lakh dwelling
units and about 28,000 toilet seats.
compete with the private public sector banks, the Hudco recently
reduced its interest rates by 1.25 per cent on loans for individuals
as well as organizations. A similar reduction has been made for
housing schemes of the Union Government. Hudco's
retail home loans are now be available at a floating rate of 8.25
per cent for a period of up to 25 years against the existing rate
of 9.5 per cent. Under the fixed rate category, the interest rate
would be 8.25 per cent for a period of up to five years and 8.5
per cent up to 15 years.
CMD informed that the Government launched the two million housing
programme in 1998. Of this, Hudco has been assigned to take up six
lakh units in rural areas and four lakh in urban areas, totaling
to 10 lakh units every year. In the last five years, Hudco has exceeded
its target of 50 lakh units.
said Hudco continued its efforts in strengthening the Building Center
Movement towards promoting environment friendly, ecologically appropriate,
energy efficient, functionally durable, aesthetically pleasing and
yet cost-effective and affordable building materials and technologies
in the construction sector. Hudco till August 2003 had sanctioned
585 Building Centers in the urban areas covering 406 districts.
Out of 585 Building Centers sactioned, 488 are functional.
part of the celebration of 50th year of India's independence, Hudco
initiated the programme for development of Model Villages (Adarsh
Gram) and Model Improved Slums (Adarsh Basti) for providing, based
on a convergence approach, (integrated inputs) of physical planning,
architectural design, efficient utilisation of land and appropriate
technologies ensuring user participation, and use of innovative
and renewable sources of energy. Till August 2003, Hudco had sactioned
116 Model Villages and Model Bastis.
is new CMD HUDCO
DELHI: Dr P S Rana is the new Chairman and Managing Director of
the Housing and Urban Development Corporation Ltd (HUDCO). Prior
to this, Dr. Rana held the post of Senior Executive Director, HUDCO.
Graduate (B Tech, Civil) of Indian Institute of Technology, Delhi,
Masters in Town and Country planning from the School of Planning
and Architecture, New Delhi, and Ph. D in Transport Engineering
and Management from the University of New Castle Upon Tyne, UK,
Dr Rana has held various important posts within and outside HUDCO.
He was Director (Corporate Planning), HUDCO from August 1997 to
August 2002. Dr Rana was instrumental in formulating HUDCO's vision
to emerge as the market leader in the core sector of Housing and
Urban Infrastructure finance. He also held additional charge of
Director (Finance), HUDCO from November 1999 to January 2001. He
was also Executive Director (Urban Infrastructure) and Executive
Director (Environment and Technology), HUDCO.
expert in the field of urban transport management, Dr. Rana was
General Manager, Delhi Transport Corporation from December 1986
to May 1990. Dr. Rana has over 31 years of experience in research,
consultancy, planning and management of multi-modal integrated mass
transport systems, planning and management of urban bus operations.
He is a Fellow of Institute of the Town Planners and Founder Member
and Vice-President of Institute of Urban Transport.
Rana also holds many prestigious positions in various professional
bodies including: Secretary General, All India Housing Development
Association, New Delhi; Advisor, Delhi Urban Arts Commission, Ministry
of Urban Employment & Poverty Alleviation, Government of India,
New Delhi (since 1985); Director, Maharashtra State Road Development
Corporation, Government of Maharashtra Delhi (since 1997), and Vice