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Maduraitech
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Could you name some of them? I cant believe this news.
Its not a published news. The information is from some Malaysian Tamil Business men and Embassy here. Thats why I asked the forummer, but if I would get more reliable information I will pass it. I have two very close friends who have done that but cant disclose right now.
Malayasian Indians are mostly Tamils (from Embassy they said 95% and Indian representive language is Tamil like in Singapore) and they are very much affected from 'Pumiputra' and 'Islamic status' of Malaysian policies, which are the main reasons for the 'invest back home' trend in recent times.
 

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BMW plant updates ...

http://economictimes.indiatimes.com...in_India/articleshow/msid-1170992,curpg-1.cms

He told ET in Chennai the premium car plant in Mahindra world city SEZ near Chennai has been built with an initial investment of Euro 20 million ($26 Million) or Rs 110 crore.

It is ready with a pre-production car and the plant is expected to go on stream early March this year. BMW India will directly employ 200 people including the sales team in Delhi. The indirect employment in dealer and service network will come to 600.

It is fully satisfied with the selection of Chennai after surveying a number of sites. "Labour is not cheap here. But, we have found infrastructure including access to port, is good. Chennai has a sound knowledge of automobile industry. Plus, it has very good skilled labour", he said.

Mr Kronschnabl disclosed the initial plant capacity would be to produce 1700 cars with imported CKD packs and it is hoping to sell 1000 cars in the first year. As the premium car segment is expected to grow, he envisaged doubling the capacity in a short span by adding new series.
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He said BMW will continue to import and market higher series CBU cars and SUVs and it will account for 10% of sales. The Chennai plant will start with the assembly of 3 series BMW cars and take up 5 series saloons by May or June
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BMW would have its sales subsidiary in Delhi, national parts’ warehouse in Mumbai and the national training centre at the Chennai plant. It has also positioned about 30 people from Munich at the India facility to handle quality management and related issues.

Asked the local supply base, he said the plant will produce cars with a high import content of 90%. Tyres will be from Michelin. BMW will have local suppliers for parts like door panels, seat covers and seat electronics. To a query, he said it has not yet selected the site for setting up its international procurement centre.
 

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The project linking Egmore and Central Railway station would be finalised after examining the alignment of the metro rail line in the specified area, based on the detailed project report on the 27-km project from Chennai Airport to Tiruvottiyur. The report was likely to be submitted by the month-end .
- Velu, Railway Minister
 

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TN processing $1 bn investments in IT sector
The Tamil Nadu Government is processing investments worth Rs 4,000 crore in IT and related sectors, according to Mr C. Umashankar, Managing Director, Electronics Corporation of Tamil Nadu Ltd (ELCOT). Addressing a press conference here on Thursday, Mr Umashankar said this includes a major investment in the sector. However, he refrained from elaborating further on the projects and the time line.

He said the State continued to be a favoured IT destination and is in the process of adding about 55 million square feet for office space, which includes infrastructure in some Tier II cities, where Elcot has taken initiative to construct facilities. While Elcot itself was in the process of setting up two special economic zones, the State has received in-principle clearance for some 10 more IT SEZs
http://www.thehindubusinessline.com/2007/01/12/stories/2007011204210200.htm
 

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i wish the state government would develop the northern coastline of our state upto puducherry into a world class entertainment corridor......mahabs could give the beaches of goa and kerala a good run for their money.......:)
 

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i wish the state government would develop the northern coastline of our state upto puducherry into a world class entertainment corridor......mahabs could give the beaches of goa and kerala a good run for their money.......:)
i wish too..

look at the pic below, how cool it is

Mamallapuram The Infinity Pool is a great place to relax after seeing the ancient stone carvings. This is a great beach and has a view of the historic Shore Temple.



copyright: bradbeamana
 

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Chennai Calling ...

http://economictimes.indiatimes.com...perty/Chennai_calling/articleshow/1174267.cms

Catch the action. Defying political upheavals and though not marketed globally like its neighbours, Chennai has emerged as the favourite destination of corporates and MNCs. In fact, it has emerged as the most attractive city for offshoring services, according to a survey by A T Kearney, global management consultancy firm. The city was benchmarked on three major categories like financial costs, availability of skilled manpower and business environment.

The city is home to major automobile companies. Also, a world-class IT corridor is taking shape on the Old Mahabalipuram Road, a hardware corridor is on its way in the western part, while the northern part is gearing up for port expansion to house warehousing units. Auto major BMW is the latest entrant and is setting up an assembly unit in Mahindra Industrial Park. Industrial estates like Ambattur and Guindy are slowly giving way to IT units.

On the western side, a number of electronic hardware companies are setting up operations. The SIPCOT’s industrial park with an area of 2,469 acres has received an overwhelming response from varied sectors. Investment valued at Rs 4,700 crore is likely to flow into the area, according to reports. Realising the impending potential, land prices are already up 25-35%. Land prices on the arterial road are commanding a price of Rs 40-60 lakh per acre.

Interestingly, flexible FSI norms for IT sector development and lucrative deals have lured residential property developers to switch over to commercial property development. This has resulted in a sudden setback in terms of supply of residential units. Soaring land prices in the central business districts have pushed apartment prices to Rs 4,500-10,000 per sq ft in the prime locations.

In the absence of any large-scale housing complex, Chennai is heading towards housing shortage which is one reason for the influx of property developers from Bangalore, Hyderabad, Delhi and Mumbai. On a conservative estimate, 4,000 apartments would be immediately needed as 40,000 people are going to be employed in Siruseri alone, say realtors. The only consolation is that 15 township projects are under various stages of planning, though concrete action plan is yet to see the light of the day.

Chennai’s local developers are launching medium scale projects which are being instantly absorbed by the market due to a strong demand. Akshaya Homes took a bold move to launch a residential project 25 km away from Tidel, which was a sell-out and three projects launched on the IT corridor in Sholinganallur and Perungudi have been entirely sold out. Bangalore’s Puravankara and Mantri are due to launch their projects, whereas others like Brigade, Sobha, Prestige, Salarpuria, Renaissance and Delhi builders like DLF, Unitech and Aerens are eyeing land parcels for projects. In fact, Unitech has acquired more than 2,000 acres in three different locations in Chennai.Says Devinder Gupta, MD, DGS Realtors Ltd: “There’s a lot of job opportunities in Chennai — with the booming auto industry there. We are looking at new opportunities and will announce our plans soon.”

The demand for office space has been estimated in the region of 5-6 million sq ft this year. If the past absorption is any indication, then 90% of the commercial space has been absorbed by the IT and ITeS sector. Capital values for office range from Rs 2,900 to Rs 4,900 per sq ft. Rental levels are up by 15% in the past one year due to hike in interest rates.
About 10-15 mall-cum-multiplex projects are due to be developed as part of integrated township development in and around the city. These will add about 6 million sq ft of organised retail space in the city,says Santhosh Kumar CEO, property consultants Trammell Crow Meghraj.
 

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High-level Japanese business team in Chennai

http://newstodaynet.com/14jan/bu1.htm

Japan is favourably considering India's request for funding under Overseas Development Assistance (ODA) to its national gigabyte project being undertaken by the National Informatics Centre, a nodal agency set up to establish fibre optic network in the country.

Expressing satisfaction over the progress of talks at the Indo-Japan ICT Forum, Union Minister of Communications and Information Technology Dayanidhi Maran said he had 'fruitful discussions' with a delegation led by his Japanese counterpart Yoshihide Suga. He said talks at the Joint Working Group at the ICT Forum was an on-going process structured to take forward the initiatives taken during the Prime Minister's visit to Japan in December 2006.

During the talks Japanese Minister of Internal Affairs and Communication Suga had agreed to 'favourably consider' India's proposal for ODA funding to its prestigious Rs 1,500 crore fibre optic project which was expected to usher in IT revolution in rural areas and a plethora of e-governance initiatives at districts-level administration. The Union government has broached this subject when Prime Minister visited Japan and both sides had agreed to explore prospects for joint ventures in ICT sector. Leading a 20-member delegation, Yoshihide Suga was invited to visit Tamilnadu by Maran and at the JWG talks yesterday, the potential of the State in attracting IT investments and joint ventures was showcased by audio-visual presentation by the top officials of the administration.

The JWG of the Indo-Japan ICT Forum would meet twice a year to discuss and identify projects in this sector where investments and joint ventures were possible and the next meeting was slated to take place within six months in Tokyo. Both sides expressed satisfaction on the development made so far and the projects being identified for joint ventures between the two countries and they further reaffirmed their commitments to carry forward the objectives of the ICT Forum to synergise the potential of the two countries, according to a release issued at the venue of the talks.

State Industries Secretary Shaktikanta Das said the top officials of the government made a detailed presentation on the growth of IT infrastructure in the region and Tamilnadu as an investment of choice for Japanese delegation led by Yoshihide Suga. The Japanese team consisted of industry representatives from IT hardware, telecom and software. The Japanese team was invited to Chennai by Maran to know first-hand the opportunity presented to the businessmen here in the software and hardware sector.
 

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i wish the state government would develop the northern coastline of our state upto puducherry into a world class entertainment corridor......mahabs could give the beaches of goa and kerala a good run for their money.......:)
Not mere beaches but shud also have other facilities to attract foreign tourists.If i am not wrong it shud read as southern coastline up to pondicherry.
 

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Not mere beaches but shud also have other facilities to attract foreign tourists.If i am not wrong it shud read as southern coastline up to pondicherry.
ya there should be an entire ecosystem of facilities ranging from star hotels to to the local souvenir stalls......and btw i meant the northern coastline of tamilnadu upto puducherry........:)
 

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Port Updates ...

Chennai, Jan. 16 (PTI): Chennai Port Trust will sign an MoU with the Hyundai Motors tomorrow, under which all the cars exported by the company from India would be routed through Chennai Port, Union Shipping Minister T R Baalu said today.

Speaking to reporters here, Baalu said the MoU would be valid for 12 years.

He said the Port would construct a multi-storied car parking complex in its premises to enable Hyundai to park cars, that would be exported.

Tamil Nadu Chief Minister M Karunanidhi, who would be inaugurating the 125th anniversary celebrations of the Chennai port here tomorrow, would lay the foundation for five schemes for the Chennai and Ennore ports to the tune of Rs 1,554 crores, including a second container terminal for the Chennai Port at a cost of Rs 450 crores, Baalu said.

The port would also organise an international seminar on port development, which would be inaugurated by External Affairs Minister Pranab Mukherjee on January 18, Baalu said.

He said the the Union Cabinet has given nod to his ministry's proposal to set up a maritime university in Chennai. A Bill for this purpose would be introduced in the Parliament soon, he said.

He said the Tamil Nadu Government had given its no-objection certificate to develop Colachel in Kanyakumari district as a major port and his ministry has called for 'letters of intent' for consultancy services for the project.

The foundation would be laid for the project by December, he added.

http://www.hindu.com/thehindu/holnus/006200701161550.htm
 

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Southeastern India picked as potential best targets for Korean firms

SEOUL, Jan. 16 (Yonhap) -- Southeastern India, including the automobile capital of Chennai, will be the best place for Korean firms to breach Asia's fourth-largest economy due to a relatively high concentration of businesses, a private think tank said Tuesday.

"In the future, southeastern India, including Chennai, will be the most desirable place for Korean companies to invest," the Samsung Economic Research Institute (SERI) said in a report.

http://english.yonhapnews.co.kr/Engnews/20070116/910000000020070116152406E9.html
 

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SEOUL, Jan. 16 (Yonhap) -- Southeastern India, including the automobile capital of Chennai, will be the best place for Korean firms to breach Asia's fourth-largest economy due to a relatively high concentration of businesses, a private think tank said Tuesday.

"In the future, southeastern India, including Chennai, will be the most desirable place for Korean companies to invest," the Samsung Economic Research Institute (SERI) said in a report.

http://english.yonhapnews.co.kr/Engnews/20070116/910000000020070116152406E9.html
so i guess we can expect lg to set up a mobile manufacturing unit in the coming days.........not to mention their slew of infrastructure companies.....
 

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Maduraitech
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