The Hindu Business Line : Friday, November 11, 2005

GE to reinvest Dabhol proceeds in Indian infrastructure projects
GE, a diversified technology and financial services firm, said on Thursday that it would reinvest in major Indian infrastructure projects the $145 million in proceeds it received from the settlement of disputes relating to the Dabhol power ... More

GAIL not likely to pay special dividend
CLOSE on the heels of Oil and Natural Gas Corporation (ONGC) expressing its inability to consider paying a special dividend, GAIL (India) Ltd has also conveyed similar sentiments to the Petroleum Ministry. This may force the Finance Ministry ... More

Ashok Leyland to invest Rs 25 cr to upgrade IT network
ASHOK Leyland Ltd would be investing about Rs 20-25 crore every year for the next three years to strengthen its IT infrastructure. It would be adopting Enterprise Resource Planning (ERP) solutions and a custom made customer relations management ... More

IOC commissions motor spirit plant at Haldia refinery
INDIAN Oil has commissioned its 0.35-million-tonne Euro-III motor spirit production facility at Haldia refinery. The Rs 359-crore project is part of the Rs 1,600-crore investment plan at the refinery for expanding refining capacity from 6 ... More

BHEL bags Rs 130-cr IOC order
MADURAI: Bharat Heavy Electricals Ltd (BHEL), Tiruchi, has secured an order worth over Rs 130 crore from Indian Oil Corporation for setting up a frame-5 co-generation power plant at its Haldia refinery complex on a turnkey basis. The ... More

AWARDS & HONOURS

Tata Motors bags CII-Exim Bank award
THE commercial vehicles business unit of Tata Motors has won the coveted CII-Exim Bank Award for Business Excellence for 2005. By wining the award, Tata Motors has become a member of the elite group of high performance organisations. The high ... More

Best executive award for VSP chief
VISAKHAPATNAM: The Chairman and Managing Director of Visakhapatnam steel plant, Mr Y. Sivasagara Rao, was presented the best chief executive gold award recently in New Delhi for his contribution to the growth of the public sector. Mr ... More

COURTS/LEGAL ISSUES

High Court tells BHEL to provide jobs to displaced persons
THE Madras High Court has directed the Ranipet unit of Bharat Heavy Electricals Ltd to provide jobs immediately to eight persons, as land belonging to their families were acquired by the public sector undertaking for starting the boiler ... More

IPR

Ranbaxy wins process patent verdict on Pfizer drug in Norway
THE patent battle for Pfizer Inc's cholesterol-lowering drug, Lipitor (atorvastatin), took an interesting turn with the Oslo District Court in Norway ruling that Ranbaxy Laboratories Ltd's proposed generic version of the drug did not infringe the ... More

MERGERS & ACQUISITIONS

Satyam exits Sify; entire stake sold to Infinity Capital of US for $62.62 m
SATYAM Computer Services has sold its entire stake in Sify Ltd to the US-based Infinity Capital Venture, LP, which is controlled by Silicon Valley entrepreneur, Mr Raju Vegesna. The total purchase price for Satyam's 31.61 per cent stake was ... More

Manufacturing cos scouting for acquisitions overseas
Major cross border acquisitions involving Indian firms in the past two months include the purchase of 10 per cent stake in Bharti Televentures by Vodafone Plc, Apeejay Surrendra Group's acquisition of British tea company Premier Group, Bharat Forge's acquisition of Swedish auto components firm Imatra Kilsta AB among others. More

NEW PROJECTS

Destination tea gardens
If the project by McLeod Russel India Ltd takes off successfully, tea estates in India could be the next big attraction on the tourism map of India. More

JSW Steel signs pact with Siemens to set up blast furnace
JSW Steel Ltd signed a contract with Siemens VAI on Thursday for setting up a 2.8 million tonnes per annum (MTPA) blast furnace, which would be the country's largest, at its Vijaynagar works. The company is currently expanding its capacity ... More

JSW Steel plant in Jharkhand
MUMBAI: JSW Steel Ltd has said it plans to invest Rs 35,000 crore for setting up a steel plant in Jharkhand. Mr P. P. Sharma, Chief Secretary of Jharkhand, and Mr Sajjan Jindal, Vice-Chairman and Managing Director of JSW, signed a MoU ... More

OVERSEAS INVESTMENTS

Sundram Fasteners may acquire German co Peiner
SUNDRAM Fasteners is likely to acquire a Germany-based fasteners company called Peiner Umformtechnik GmbH. The TVS group company on Thursday announced that it "proposes to enter into an agreement shortly" with Textron Deutschland Beteilingungs ... More

ALLIANCES & JOINT VENTURES

Rs 900-cr unit in Jamshedpur — Tata Steel to tie up with BlueScope
TATA Steel and Australia's BlueScope Steel today announced that they have agreed to enter into a partnership to form a 50:50 joint venture company in India. "The joint venture company will build a new business across India and South Asia that ... More

Acambis inks pact with Bharat Bio for Japanese Encephalitis vaccine
ACAMBIS Plc, the £81.5-million, NASDAQ-listed vaccines major, has entered into a manufacturing and marketing arrangement with Bharat Biotech International Ltd (BBIL) for `ChimeriVax-JE,' an investigational vaccine against Japanese Encephalitis ... More

OUTLOOK

`TCC has to expand capacity to meet growing demand'
THE State-owned Travancore Cochin Chemicals Ltd, which has improved its performance during the first seven months of the current fiscal, will have to expand its capacity in line with the ongoing expansion of its major customer, Kerala Minerals ... More

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