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INVESTMENT
INDIAN INVESTMENT ABORAD
  • In the biggest deal yet between a Chinese and private Indian company, Reliance Power has given a $8.3-billion contract to Shanghai Electric Group Co Ltd (SEC) for supply of 36 coal-fired thermal power generation units, spare parts and related services over a 10-year period.This takes the total deal size between Reliance Power and the Chinese power equipment maker over the past couple of years to $10 billion.SEC will supply boiler, turbine and generator packages for 30,000 MW capacity of coal-based power at six plants including the 3,960-MW ultra mega power project at Krishnapatnam, the 5,940-MW project in Chitrangi, and the 3,960-MW project in Tilaiya.

  • Videocon Industries, through its operator Anadarko, has discovered oil in the Tarakan basin of Indonesia. The company said that the discovery was made while drilling at 14,300 ft in 230 ft of water. Its overseas arm, Videocon Nunukan Inc, holds 12.5 per cent in the block. Anadarko operates the block with a 35 per cent stake while PT Medco E&P Nunukan has 40 per cent. Bharat PetroResources, the overseas arm of BPCL, holds the balance 12.5 per cent.

  • Telecom service provider Bharti Airtel strengthened its six-year relationship with IBM by assigning the global IT major to manage its computing and mobile network across 16 African countries. The 10-year deal, according to industry sources, is estimated to be worth $1-1.5 billion-one of the largest outsourcing deals signed by Bharti.“We would like to bring a very successful, affordable, low-cost model here to Africa. This can be possible only by carrying forward our wonderful partnerships that we have forged with world leaders. Increasingly, in the last few years, IT has become the core of businesses,” said Bharti Airtel Chairman and MD Sunil Bharti Mittal.In March, Bharti acquired Zain Telecom's African operations at an enterprise value of over $10.7 billion. The group is already planning to change the name of the brand in a few months to Airtel across various markets on the continent.The strategic partnership with IBM will also enable Bharti to scale up its network and systems to cater to more than 100 million subscribers by 2012, the company said. Currently, Bharti has a customer base of 42 million in these countries.

  • Arvind Ltd will invest $60 million (Rs 270 crore) over the next three years on setting up a joint venture plant in Bangladesh to increase its denim manufacturing capacity by 30 million metres.According to a company filing with the BSE, with this plant, the annual manufacturing capacity of Arvind Ltd will increase from 110 million metres to 140 million metres.For this purpose, Arvind is entering in an 80:20 joint venture with Nitol Group of Bangladesh. The first phase of 10 million metres will be set up within a year with an investment of $25 million, said Mr Jayesh Shah, Director and CFO.Bangladesh, which exports $10 billion worth of garments annually, is among the fastest growing garment exporters in the world, given its lower wages and higher productivity.The demand for denim fabrics in Bangladesh is growing at 25 per cent and is currently at 280 million metres. Out of this, 180 million metres are being manufactured locally and 100 million metres are imported.

  • ICICI Bank has opened its first retail branch in Singapore after it received the Full Banking Licence with Qualified Full Banking (QFB) privileges from the Monetary Authority of Singapore in April 2010.This licence allows ICICI Bank to start retail banking operations by offering fixed deposits in Singapore dollars and other currencies, current and savings accounts and remittance services to India. Under the licence, the bank can open up to 25 outlets, including branches in Singapore.ICICI had started its Singapore operations in 2003 and was offering corporate banking services. Ms Chanda Kochhar, ICICI Bank's Managing Director and CEO, said, “The launch of our first retail branch here is testament towards our commitment to Singapore, a market which is a major hub in our international network.”At present, the bank offers services such as loan syndication, structured financial solutions for Indian corporates, trade services, and wealth management services.Apart from ICICI Bank, State Bank of India is the only other Indian bank which has the permission to do retail business in Singapore. SBI had received QFB privileges two years ago.

  • Tata Motors has bought an 80 per cent stake in Italy-based Trilix Srl, a design and engineering company for ¤1.85 million (Rs 11 crore).The remaining 20 per cent stake is equally held by the promoters of the target company.“The acquisition is in line with the company's objective to enhance its styling/design capabilities to global standards,” the company added.Trilix offers design and engineering services in the automotive sector, specifically styling, architecture, packaging, surfacing, macro and micro feasibility and detailed engineering development.The Turin-based company has had a relationship with Tata Motors, as it has worked on several projects. The company has a turnover of ¤4 million.


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