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CORPORATE
ANNOUNCEMENTS
IOC shelves plan for LPG pipeline network
IndianOil has shelved its plan to set up an LPG pipeline network connecting its major refineries owing to lack of throughput. The project may be revived later, following completion of the Paradip refinery project in Orissa. Plans are, however ...
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DuPont sets up refinish training centre
E I DuPont has set up a refinish training centre targeted at car workshop and body shop outlets. E I DuPont India Executive Director for engineering polymers in South Asia, Mr Shankar Krishnan, told newspersons that the 6,000 sq ft training ...
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Shell's centre of excellence in Bangalore
Shell, which had announced the setting up of a centre of excellence in India, on Wednesday said it has decided to locate it in Bangalore. The centre with an initial strength of 500 scientists and engineers, will have dedicated research and ...
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Garnet in pact with Dubai group for Magic Hills project
Garnet Construction Ltd has entered into a three-year exclusive marketing alliance with the Sternon Group, a Dubai-based real estate developer, for global marketing of its project called Magic Hills, spanning 400 acres on the Mumbai- Pune express ...
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NEW BUSINESS
ICSA secures new orders
ICSA (India) Ltd has secured contracts worth Rs 32.30 crore from Andhra Pradesh Central Power Distribution Company. The contract involves erecting, testing and commissioning of 33/11 KV Sub-stations in four districts of ...
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RESTRUCTURING
Publicis Groupe consolidates media buying units
Publicis Groupe Media has consolidated the media buying functions of Starcom MediaVest Group and Zenith Optimedia to form India Media Exchange or IMX. Building scale and size into its media operations, the new entity of Publicis Groupe is ...
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BPCL to exit Bharat Shell
BPCL has decided to sell its 49 per cent stake in Bharat Shell Ltd to its overseas partner, Shell Overseas BV. The BPCL board took the decision on Wednesday to sell the stake. Bharat Shell Ltd is a joint venture between Shell and BPCL and ...
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MERGERS & ACQUISITIONS
Firms will have to build size
Last week, a global Big Four accounting firm, PricewaterhouseCoopers (PwC), took over the tax practice unit of India-based RSM Pvt. Ltd. for an undisclosed sum. With a combined staff strength of more than 4,000, the merged entity is `the ...
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Metropolis targets 5 acquisitions this year
Diagnostics-company Metropolis Health Services seems to have an appetite for more acquisitions in the domestic and international markets, looking at about five potential targets this year. Despite having locally acquired Gribbles Pathnet, a ...
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Och-Ziff to invest $51-m in Nitesh Estates
Global hedge fund Och-Ziff Capital Management Group has agreed to invest $51 million (Rs 220 crore) for a 25 per cent stake in the Bangalore-based property development company, Nitesh Estates. The fund inflow will help the company to scale up ...
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NEW PROJECTS
ONGC may be told to rethink Kakinada refinery project
`Manmohan keen that company meets its commitment'
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ALLIANCES & JOINT VENTURES
Airport modernisation: Tata, Changi finalise tie-up
The Tata Group has entered into a strategic alliance with Changi Airports International (CAI) to take up airport projects here, including the proposed modernisation of Chennai and Kolkata airports. In a statement, CAI has said that the two sides ...
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RIL, Chevron likely to strengthen ties
Cos to deliberate on foray into gas marketing
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VENTURE CAPITAL
ICICI Knowledge Park plans seed fund
R&D in life sciences, IT
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OUTLOOK
Tata Motors to launch Dicor model of Indica
Tata Motors will launch a model of Indica with direct injection common rail engines (Dicor) this year, according to Mr Rajiv Dube, President (Passenger Cars). The company is already producing Indica cars with Dicor, but only for export markets. ...
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`IOC aiming at $60-b revenue by 2012'
IOC is aiming at revenues of $60 billion by the year 2012 with an investment plan of about $15.5 billion, according to Mr G.C. Daga, Director (Marketing). Addressing the 15th International Aviation Conference on Wednesday, he said that ...
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PERFORMANCE
BHEL's first thermal set completes 20 years
The first 500-MW thermal power generating set manufactured by Bharat Heavy Electricals Ltd (BHEL) has completed 20 years of operations at NTPC's Singrauli Super Thermal Power Station in Uttar Pradesh. The equipment had been designed, ...
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PEOPLE
Elgitread Company Secy quits
The Company Secretary of Elgitread (India) Ltd, Coimbatore, Ms V.M. Vennila has resigned from her job. In a notice posted on its Web site, the NSE has said that Elgitread has informed the exchange that MsV.M. Vennila ...
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