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Gujarat, the Growth Engine with Business Resources, offers tremendous Opportunities for Investment as it is the most preferred location for Industrial Investment in the country. It is the home for Dynamic Industrialists and Business Entrepreneurs.

We cannot promise you the moon, but we promise you the platform from where, you can reach the heights of success – CM Narendra Modi
 

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ABB to invest Rs.250 crore for expansion of Gujarat facility



Power and automation technology major ABB will invest Rs 250 crore to build new facilities at Savli in Gujarat to manufacture high-voltage gas-insulated switchgears (GIS) and PASS (plug and switch system) hybrid switchgears as well as dry-type and oil immersed distribution transformers. The facilities are expected to be operational by the end of 2012, according to a press statement.

“The new manufacturing units will strengthen our local footprint and enhance our product portfolio,” a statement quoting Mr Pitamber Shivnani, Local Division Manager, Power Products in India, said.

ABB’s plug and switch system (PASS) is a hybrid switchgear solution that combines the features of air- and gas-insulated technologies, the statement said. The new transformer factory will also manufacture vacuum cast coil dry-type transformers and oil immersed distribution transformers. It will help bridge a gap in the present product offering in India and extend the distribution transformer range, according to the statement. It will also enable localisation of vacuum cast coil dry-type transformers, which help reduce environmental impact and can be deployed in environmentally challenging conditions.

According to the press statement, the expansion is part of ABB’s strategy to develop, manufacture and market products that meet the needs of Indian customers as well as serve as an export hub.
 

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BASF India to set up Rs 1000 cr chemical unit at Dahej



Chemicals major, BASF India Ltd will set up a chemicals production unit at Dahej with an estimated cost of Rs 1,000 crore, the company informed on Wednesday.

In a statement filed with the Bombay Stock Exchange (BSE), the company informed that the board of directors of the company at its meeting held on April 11, 2012, has approved the proposal for setting up of a new chemical production site at Dahej, India. The commercial production from the plant is scheduled for 2014. “The total cost of the setting up of site is estimated to be Rs 1,000 crore and the same will be financed through internal accruals and loans,” the company stated. The manufacturing unit will employ more than 250 people at full capacity, primarily in operations.

The new production facility will help BASF to ensure local supply for growing markets and industries such as appliances, footwear, automotive, construction, adhesives, architectural coatings, paper and personal care.

“The new site will be an integrated hub for polyurethane manufacturing and will also house production facilities for care chemicals and polymer dispersions for coatings and paper,” it said.

The company currently manufactures tanning agents, crop protection chemicals, textile chemicals and automotive and coil coatings, construction chemicals, among others.

“We expect our Dahej plant, which will be operational from 2014, to contribute about Rs 800-1,000 crore to the overall revenues of the company,” BASF India Chairman and Managing Director Prasad Chandran told reporters in Mumbai.

The Dahej plant will mainly cater to the western and the northern regions, while its Mangalore plant in Karnataka will cater to the eastern, central and southern regions, he said.
 

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Linc Pen to set up Rs 25-cr plant in Gujarat




Writing instruments maker Linc Pen and Plastics plans to set up a manufacturing facility in Gujarat at an investment of Rs 25 crore.

“We are planning to set up a factory in Gujarat. We hope to make it functional from next financial year. Our capacity will also increase by 20 per cent with that,” Linc Pen Managing Director Deepak Jalan told PTI.

The company’s facilities in West Bengal can produce close to 10-12 crore pens per month.

As to investment in Gujarat, Jalan said, “It will be around Rs 25 crore.”

“We are starting the construction now and it is on Gujarat-Maharashtra border,” he added.

Asked about the funding, Jalan said, “It will be funded through internal accruals as well as the funds we will receive from Mitsubishi Pencils.”

The Kolkata-based firm recently sold 13.5 per cent equity stake to Japan-based Mitsubishi Pencil for Rs 20 crore.

“It is basically a strategic tie-up for both companies. By default, it became a stake sale. This tie-up could open more avenues for co-operation like manufacturing here.”
 

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Apollo Hospitals to invest Rs.15 crore & planning for expansion



In Gujarat, Apollo Hospitals and Cadila Pharmaceuticals Ltd have a 50:50 partnership, the duo has decided to launch an additional cardiac clinic by July this year at an investment of Rs 15 crore. They are also considering setting up one or two more hospitals in Gujarat, at a distance of nearly three hours from Ahmedabad, he said.
 

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Jubilant to invest Rs 1,300 cr in Gujarat



The diversified Jubilant Bhartia Group will invest Rs 1,300 crore in life sciences, energy, food and oil gas in the next few years, Mr Shyam S. Bhartia, Chairman and Managing Director, said here on Friday.

The Group, which has already invested Rs 1,900 crore in two manufacturing facilities in the chemicals sector in the State, will also start production at the Symtet plant in the Jubilant SEZ at Vilayat near Dahej in Bharuch district next month.

The plant to manufacture Symtet, a crop science ingredient, will be one of the world's largest such plants for making insecticide ingredients.

Jubilant Bhartia Group is also a partner with state-promoted Gujarat State Petroleum Corporation Ltd (GSPC) in hydrocarbon sector.

Jubilant Life Sciences Ltd, the flagship company of the Noida-based Group, has commissioned production of Vitamin B3, 3-Cyanopyridine and agro-ingredients, having annual capacities of 10,000, 24,000 and 1,000 tonnes at the new complex.

The global scale plants of Vitamin B3 and 3-Cyanopyridine will make Jubilant the second largest producer in the world and the largest in India.

The company, which has seen a 30 per cent export growth in the last nine months, will generate exports worth Rs 1,000 crore at full capacity, Mr Bhartia said.

The finished products from this facility would be fully backward integrated and based on in-house developed innovative technologies, making it a hub for products offering value to all stakeholders.

On Friday, the Gujarat Chief Minister, Mr Narendra Modi, formally inaugurated the Jubilant SEZ, established with an investment of Rs 500 crore in a 300-acre plot in the Vilayat industrial estate. Jubilant Bhartia Group had signed an MoU with the State Government for setting up a chemicals SEZ during the Vibrant Gujarat Global Investment Summit 2007.

Mr Modi said the State will witness inauguration of 600 MW of solar power production facilities on April 19 at a solar park in Patan district, at a time when all other Indian states collectively produce only 120 MW of solar power. Also, he said, Dahej will soon have Asia’s largest water desalination plant to solve water problem for the next few decades.
 

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MPIL Steel to invest Rs 45 crore for Gujarat plant



MPIL Steel Structures Limited, a Mumbai-based turnkey solution provider for metal building products and integrated structural steel fabrication, will set up a manufacturing plant for structural steel in Gujarat with an investment of Rs 45 crore in the first phase.

"This plant will be our first special facility for solar mounting structures," MPIL's executive director Priyanka Gupta told TOI on Wednesday, adding that the firm is inclined towards setting up this plant at Sarigam GIDC in south Gujarat although it has not frozen the decision.

"The Gujarat plant will have capacity of 28,000 tonnes per year. We already have an in house capacity of 12,000 tonnes per year for solar mounting structures at our Tarapur plant in Maharashtra. We want that the new plant in Gujarat comes up at a location where we can get a better synergy between the new and our existing plant which is just 80 km away from Gujarat border," Gupta said.

While the two units at Tarapur plant are fully utilized, the company will shortly inaugurate its new plant in Karnataka.
 

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‘Gujarat has attracted Rs 8,000 cr investment in solar energy'


Mr D.J. Pandian, Principal Secretary (Energy), Gujarat Government

Over the last decade, Gujarat has emerged a power-surplus State and carried electricity to nearly all of its 18,000 villages through the Jyotigram Yojana.

Most of its areas now have a round-the-clock electricity supply. Its biggest cities such as Ahmedabad and Surat are lighted by the private sector and its state electricity board had come out of the red in 2006. Clearly, electricity availability and reforms in power sector have gone a long way in making the Gujarat miracle.

Mr D.J. Pandian, Principal Secretary (Energy), has been one of the architects of this phenomenon. Known in the business circles as Gujarat's “Energy Czar”, he is the man behind the State's energy projects. He also nursed the Pandit Deendayal Petroleum University, Gandhinagar, when he headed the GSPC Group.

Here, he speaks to Business Line on how solar energy has arrived in Gujarat. Excerpts:

What are the installed capacity and current production of thermal energy in Gujarat?

We have an installed capacity of 13,500 MW and now produce 11,000 MW.

How does the per megawatt installation costs differ in solar and thermal energy?

Our installed solar energy capacity is 604.8 MW, that includes 214 MW at the Solar Park in Patan and 390 MW in other districts. While thermal power plants come at Rs 3.5 crore (gas-based) to Rs 5 crore (coal-based) per mw, solar plants are installed at Rs 10-11 crore per MW of capital cost. But the solar plants have no variable costs as they require to bear no fuel costs thereafter. Also, we can now sell both gas-based and solar-based power at Rs 7-8 per unit, but the latter is free of the uncertainties of gas-availability and, in the long term, more dependable and cheaper.

How much investment has Gujarat, which now produces two-thirds of solar power in India, attracted in the development of solar power?

Nearly Rs 8,000 crore. And we hope to do more with further development of solar power in the Patan complex and elsewhere.

What is the USP of this park?

We have so far acquired 3,000 acres of government land for the development of 214 MW of solar power by different companies, which were allotted 250 MW capacity in 2008. The solar power capacity at Patan is estimated at 500 MW. We are now trying to acquire some private land as well to achieve this capacity.

In view of the availability of mainly wasteland, is Gujarat planning to add another solar power park in the near future?

Yes, we have identified some land in Banaskantha district as well and, hopefully, we would soon take a decision.
 

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GMB to add 50 MT capacity in FY 2013




Encouraged by the performance of its ports and investment commitments of about Rs 100,000 crore in the port and ship-building space, Gujarat Maritime Board (GMB) is looking at big capacity expansion this fiscal to garner a larger share of the national cargo.

"We have signed MoUs worth Rs 100,000 crore in the ports and shipbuilding sector during the Vibrant Gujarat events which are going to be implemented soon. We are targeting 50 million tonnes per annum (MPTA) capacity addition during the current fiscal," GMB Vice Chairman and Chief Executive Officer Pankaj Kumar said. He said GMB is eyeing larger share of the national cargo. Ports under GMB accounted for about 73 per cent of the non-major ports traffic, and 28 per cent of total national cargo at 259 million tonnes (MT) in 2011-12, an increase of 12 per cent over the previous fiscal.

India has about 200 non-major ports under state governments, besides 12 centre-owned major ports.
Non-major ports during 2011-12 handled 354 MT, as per the recent traffic figures. They now account for about 39 per cent of the total national cargo. As far as ports under GMB are concerned, capacity expansion grew at a brisk pace, with 39 MTPA addition in 2011-12 to reach 323 MTPA.

The major ports on the other hand, have shown a worrying decline, with traffic actually decreasing by 1.7 per cent to reach 560 MT during 2011-12. Among the GMB ports, Sikka port topped the list in handling cargo followed by Mundra Port& SEZ (MPSEZ), Magdalla Port and Petronet LNG. Buoyed by this success, the GMB is targeting 50 MTPA capacity addition, Kumar said.
 

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^^ Thanku aks_sky

Steelcast to invest Rs 107-cr on expansion, upgradation



Steelcast Ltd, a Gujarat-based steel castings manufacturer, will invest nearly Rs 107 crore on expanding and upgrading capacities.

This investment is due to the surge in demand coming from the domestic as well as global markets.

With nearly 45 per cent of its sales coming from exports, mainly to the US and Europe, Steelcast is expecting strong growth, Mr Chetan Tamboli, Chairman and Managing Director, said here on Thursday.

A major part of the investments, Rs 65 crore, will be used in expanding production facilities at the Bhavnagar plant.

It will be used to increase steel castings manufacturing capacity from the existing 24,000 to 30,000 tonnes a year in 2012-13 and then to 38,000 tonnes a year in 2013-14.

The BSE-listed Steelcast will also spend about Rs 25 crore on machining activities, Rs 10 crore on equipment for energy conservation and Rs 6.5 crore on environment and pollution control measures, he said.

FUNDING

Mr Tamboli said the entire investment of Rs 107 crore will be funded through long-term debt, internal cash accruals and advances from customers.

“With the new capacities being set up, our aim is to double the company's turnover in the next three years,” he said, adding that the company's order books are generally full for the coming seven-eight months.

REVENUES

The company is expected to post revenues of over Rs 225 crore in 2011-12.

In March, Steelcast had announced a long-term agreement with the $60-billion Caterpillar Inc to set up a dedicated facility to manufacture steel casting products with specifications given by the US major for the assured off-take capability.

INTEREST-FREE LOAN

Caterpillar had also advanced an interest-free loan of $5 million (Rs 25 crore) to Steelcast, repayable over the next four years.

This was expected to increase Steelcast sales to Caterpillar to Rs 150 crore a year by 2015.
 

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Alliance to invest $160 million in India

Plans greenfield facility in Gujarat, to expand in Tamil Nadu



Off-highway tyres maker, Alliance Tire Group (ATG), will be investing around $160 million (Rs 840 crore) in setting up a greenfield facility in Gujarat, besides expanding its existing plant in Tamil Nadu.

According to the company’s project disclosure, ATG currently has a 48,000-tonne per annum (tpa) plant in a special economic zone (SEZ) near Tirunelveli, Tamil Nadu, which is in the process of being expanded to 61,000 tpa and another 35,000 tpa plant near Hadera, Israel.

The company is now planning to expand its Indian operations by setting up a greenfield plant at Jhagadia Kharchi Extension in Gujarat with a capacity of 50,000 tpa, a further expansion of 29,000 tpa in Tirunelveli and installing a co-generation plant in the same location. The project is expected to create 850 additional jobs directly.
To support the investment plan, the company is planning to raise money from the International Finance Corporation (IFC), which in turn said that it was planning to invest up to $65 million for its own account and will try to mobilise additional funds to part-finance the expansion.

“IFC will provide loans with the required tenor (of up to 11 years) and grace period, which otherwise are difficult to obtain in the current economic environment. IFC’s investment will help attract other potential investors, especially when the company goes public,” the corporation said.

ATG manufactures off-highway tyres that are used in agricultural, forestry, construction and earth-moving equipment. Almost 60 per cent of its sales are from the agriculture equipment sector, where increasing productivity is critical to meet the increasing food demand.
 

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Ravi Technoforge to invest Rs 100 cr for expansion




Rajkot-based bearings manufacturer Ravi Technoforge Private Limited is looking to invest about Rs 100 crore in fiscal 2012-13 for capacity and technical upgradation.

The company has already invested about Rs 150 crore for setting up a new production facility as well as capacity expansion at existing ones.

"With last year’s investment our production capacity will increase to 1200 tonnes per month from 700 tonnes by July this year and we will increase it to 1500 tonnes a month by end of 2013. For this we will be investing about Rs 100 crore in current financial year," said Amubhai Bharadia, chairman and managing director of Ravi Technoforge.
Last year, Ravi Technoforge had acquired waste land from the state government to set up a new production facility in the Shapar industrial zone near Rajkot. However, now the company is looking for more such land near its existing plant in Shapar.

According to Rajesh Bharadia, director of the company, "The company is also focusing on technical upgradation. To give better quality and increase capacity, we have imported hi-tech fully automatic machineries from Japan and France."

The company is also considering to enter the capital market through an initial public offering (IPO) in 2014. Amubhai said,

"The new unit will fully commence within next seven to eight months. Moreover, for funding our investment, we are managing the same from internal accruals, private equity and bank. We are also considering to go public in 2014 to manage fund for expansion projects."

He said, "We are also considering to manufacturing gear parts for automobiles in coming years but our prime focus is rings."

Moving up from its current Rs 100 crore in 2011-12, Ravi Technoforge is targeting turnover of Rs 150 crore in current financial year.
 

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FDI inflows in Guj up; cross $1 bn mark

Amid the economic slowdown, Foreign Direct Investment (FDI) in the state went up by more than 38% to cross the billion-dollar mark in the financial year 2011-12, show figures released by the Union Commerce & Industry Ministry.

The state received FDI of slightly more than $1 billion (Rs 4,730 crore) in 2011-12, significantly higher than FDI inflows of $724 million (Rs 3,294 crore) in the previous year and $807 million (Rs 3,876 crore) in 2009-10.

In the process, the state also improved its rank in attracting FDI from the sixth in the country in 2010-11 to fifth in 2011-12.

While FDI in the state has gone up sharply, the bad news is that Gujarat’s share in FDI has fallen from 3.7% in 2010-11 to 2.7% in 2011-12. This shows that Gujarat did not keep pace with the FDI inflows in the country.

The figures show that the state’s performance pales when compared to overall FDI in the country. The FDI in India in 2011-12 rose by a staggering 88% to $36.50 billion (Rs1.74 lakh crore), as compared with $19.42 billion (Rs 88,520 crore) in the previous year. However, the FDI in Gujarat rose by ‘only’ 38% in this period.

According to the statistics released by the ministry, Maharashtra remained the hottest destination for foreign investors with FDI of $9.55 billion (Rs 44,664 crore) in 2011-12, i.e. more than one-fourth of the total inflows.

Maharashtra was followed by Delhi, which accounted for $7.98 billion (Rs 37,403 crore) worth of FDI, i.e. 21% of the total inflows. Karnataka and Tamil Nadu ranked third and fourth among states with the highest FDI during the year with inflows of $1.53 billion (Rs 7,235 crore) and $ 1.42 billion (Rs 6,711 crore) respectively.

Among other states, Andhra Pradesh received FDI of $848 million (Rs 4,039 crore), West Bengal $394 million (Rs 1,817 crore) and Kerala$ 471 million (Rs 2,274 crore).
 

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Maruti to invest Rs 4,000cr to set up new plant in Gujarat



The country's largest carmaker Maruti Suzuki India on Saturday said it will invest Rs 4,000 crore to set up a new manufacturing facility in Gujarat by 2015-16.

The company said the new plant at Mehsana will be set up in a phased manner with overall capacity of 2,50,000 units in the first phase.

MSI today "signed State Support Agreement (SSA) with the Government of Gujarat for purchase of land near Mehsana to set up an all new manufacturing facility", the company said in a statement.

The Gujarat government has allocated around 700 acres for the proposed plant, it added.

"This land purchase by the Company is in line with long term management view on expansion of its manufacturing facilities in India to meet future market demand," MSI said.

Based on the market demand, the manufacturing facility near Mehsana will be added to the company's existing plants at Gurgaon and Manesar in Haryana, it added. When the Gujarat plant is commissioned, the total production capacity of the company will be 20 lakh units.

http://timesofindia.indiatimes.com/business/india-business/Maruti-to-invest-Rs-4000cr-to-set-up-new-plant-in-Gujarat/articleshow/13740466.cms
 

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Hero MotoCorp to set up Rs 1100 crore plant in Gujarat to produce 1.2 million units per year



India’s largest two-wheeler maker Hero MotoCorp today said it will invest Rs 1100 crore in Gujarat to set up its fifth plant with a capacity of 1.2 million units. The Gujarat plant will be commissioned by the second quarter of 2013-14, the company said.

“The fifth plant of Hero MotoCorp will be set up in Gujarat with an investment of Rs 1,100 crore. This will have a capacity of 1.2 million units, he said, adding that the plant would be commissioned by the second quarter of 2013-14,” Hero MotoCorp Managing Director and Chief Executive Officer Pawan Munjal told reporters here.

Before Gujarat plant, the company will be setting up its fourth plant at Neemrana in Rajasthan with an investment of Rs 400 crore which will have an installed capacity of 7.5 lakh units per annum. The plant will be commissioned in the first quarter of FY 2014. The company will be setting up a research and development (R&D) centre with an investment of Rs 400 crore at a 250-acre location near Jaipur in Rajasthan.

According to Munjal, once Rajasthan and Gujarat plants are commissioned, Hero MotoCorp’s total manufacturing capacity will be over 9 million units a year from the current about 7 million units. The company presently produces 70 lakh units annually from its three manufacturing plants at Dharuhera and Gurgaon in Haryana, and Haridwar in Uttarakhand.

http://deshgujarat.com/2012/06/04/hero-motocorp-to-set-up-rs-1100-crore-plant-in-gujarat-to-produce-1-2-million-units-per-year/
 

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Chinese companies eyeing Gujarat for investments

Beijing: Gujarat, which has emerged as a preferred destination for big-ticket investments with improved infrastructure and conducive business environment, is holding talks with CEOs of top Chinese companies who are keenly interested in boosting ties with the booming Indian state.
During a recent visit by a 15-member delegation from Gujarat, which held two road shows in Shanghai and Beijing, the state received enthusiastic response from Chinese majors in sectors like automobile, infrastructure, heavy engineering, power, renewable energy and textiles.
The delegation, led by Bharat Lal, Principal Resident Commissioner, Government of Gujarat, witnessed a very strong participation in its road shows from Chinese investors and companies looking towards India, underlining the growing ties between two of the world's fastest growing economies.
With huge increase in the production of cotton in Gujarat, textile industries of China are also working out strategy to set up their units in the state to reduce the cost on transportation of raw material as well as finished products which they sell in Asia, Gulf countries and Europe.
"In the changing economic scenario, Gujarat with its excellent infrastructure and connectivity provides a great alternative to Chinese companies looking at reducing cost with an easy access to Gulf and European markets," according to a press release.
They are looking for partners in the State and this provides huge opportunities to local businesses and workforce.
http://ibnlive.in.com/news/chinese-companies-eyeing-gujarat-for-investments/266442-7.html
 

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Japanese companies line up to invest in Gujarat

A number of Japanese companies are finalizing investment plans in BJP-ruled state of Gujarat. The names of the new investors and possible amount of investments are likely to be made public during chief minister Narendra Modi's proposed 5-day-long visit to Japan beginning July 22, a senior Japanese official connected to the development told ET.

Modi was originally scheduled to visit Japan between July 16 and 21, mainly to woo investors, but the visit was postponed by a week because the dates were clashed with India's Presidential poll scheduled on July 19.

Currently, only 29 Japanese companies including DIC, Orix, Ricco, Hitachi Appliances, Panasonic etc have Gujarat chapters though there are 120 Japanese companies being active in India.

Modi is likely to visit Tokyo, Hamamatsu and Nagoya. The chief minister may also visit Osaka though it's not confirmed as yet, said the official. Maruti Suzuki's recent decision to make forays into Gujarat and have a production facility near Mehsana in north Gujarat has boosted Japanese investor's sentiments, the official further said.

Significantly, Gujarat is one of the six states where Delhi Mumbai Industrial Corridor (DMIC) is being built. Japan is a partner country in the DMIC project.

N Noguchi, chief director general of Japan External Trade Organization (JETRO) in India, confirmed that the CEOs of a large number of Japanese companies would interact with Modi at Tokyo and Nagoya. "We expect 300 to 400 top executives of Japanese companies would gather to attend Mr Modi's function", Noguchi said.
http://economictimes.indiatimes.com/news/economy/foreign-trade/japanese-companies-line-up-to-invest-in-gujarat/articleshow/14506293.cms
 

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Amway prefers Gujarat over TN for its first plant in India


Direct selling fast moving consumer goods company Amway India has finalised Sanand in Gujarat to set up its first company-owned manufacturing plant in the country, state government sources here confirmed. The investment would be to the tune of Rs 400 crore.

At present, Amway India has a vendor plant in Baddi, Himachal Pradesh. The company had recently tripled the production capacity at the contract manufacturing plant at Baddi by adding four new production lines. The US-headquartered FMCG company had earlier zeroed in on Tamil Nadu and Gujarat to set up its first manufacturing plant and has finally chosen Gujarat over the southern state.

Achinta Banerjie, vice-president (west region), did not wish to comment on the location of the upcoming plant. Sources in the state industries department, however, confirmed the development and said the company had earlier sought for land from the Gujarat government, but things did not fall in place then.

"They had asked for 30-40 acres at the Gujarat Industrial Development Corporation (GIDC) cluster at Sanand last year, and land was allotted accordingly. However, the company failed to make payment on the last day, owing to some pending clearance from their headquarter,” said the official.

Following this, the company had asked for an extension from the GIDC, which was granted. "Amway, indeed, is coming up with a plant at Sanand now. Everything has been finalised,” the source added. The company is likely to invest Rs 40 crore for 35 acres of land.

Amway has clocked a growth rate of 27 per cent in Gujarat at Rs 85 crore in 2011 (the company follows a January to December financial year). This is better than its national growth rate. It touched a turnover of Rs 2,130 crore in 2011, up 19 per cent from Rs 1,790 crore in 2010.

"In Gujarat, we have recently opened operations in Anand, Valsad and Godhra. A Brand Center was instituted at the Surat office in the end of 2011. Gujarat has close to 50,000 active Amway business owners,” said Banerjie.

Commenting on the production capacity of the upcoming plant, Banerjie said it would be aligned to meet the company's growth strategy for the next 10 years. The company plans to touch a revenue of Rs 2,500 crore during the current financial year.

At present, 60 per cent of the company's business in India comes from the sales of its flagship brand, Nutrilite.

http://www.business-standard.com/india/news/amway-prefers-gujarat-over-tn-for-its-first-plant-in-india/479733/
 

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Gujarat Pipavav Port to invest Rs 1,097 cr on capacity expansion

Gujarat Pipavav Port Ltd (GPPL) on Monday said it plans to invest Rs 1,097 crore on expansion of Pipavav Port in Gujarat and has also concluded a capital-raising exercise of Rs 350 crore through Qualified Institutions Placement (QIP) and a preferential issue to its promoter, mainly to prepay the existing loan.

The company is proposing an expansion of the infrastructure facilities at APM Terminals at Pipavav in Gujarat to increase capacity and enhance operational efficiencies. “We propose to increase capacity for container cargo to about 1.5 million TEUs and the capacity for bulk cargo to 10 million tonnes,” said Mr Prakash Tulsiani, Managing Director.

The proposed expansion plans for container cargo include a new container berth of 348 meters to provide a contiguous berth of 735 meters to enable the port to simultaneously handle two post-Panamax vessels, dredging in berth pockets, three new post-Panamax cranes, increasing the yard capacity to 1.5 million TEUs and 10 new Rubber Tyred Gantry Cranes, besides internal roads.

For bulk cargo the plans include construction of a new container berth to enable the port to dedicate the existing multi-purpose berth exclusively for bulk cargo services, additional berth extension by 110 meters to provide a contiguous berth of 800 meters, dredging, new Gottwald crane, and a dedicated conveyor system for coal.

These proposed expansion activities for bulk cargo services will be undertaken based on customer requirements by entering into commercial arrangements with the customers.

The QIP was of 3.41 crore shares at a price of Rs 58.45 per share aggregating Rs 199.48 crore to institutional investors. The preferential issue was of 2.58 crore shares to the company’s promoter, APM Terminals Mauritius Ltd, at a price of Rs 58.45 per share, aggregating to Rs 150.52 crore. The promoter’s shareholding in the company has been maintained at 43.01 per cent post the QIP and the preferential issuance.

Kotak Mahindra Capital Company Ltd and IDFC Capital Ltd acted as the book-running lead managers for the company’s first QIP, said Mr Hariharan Iyer, CFO, GPPL/APM Terminals Pipavav.

Those allotted shares included institutions such as Bajaj Life Insurance, SBI Life Insurance, Franklin Templeton, Kotak Mahindra, Vanguard International Explorer Fund, Schroder Asia Pacific Fund PLC and Jardine Fleming.

The funds raised will be largely used to prepay the existing loan in order to strengthen the company’s balance sheet and to facilitate funding options for its expansion plans.

Gujarat Pipavav Port Ltd is the developer and operator of APM Terminals Pipavav located in Gujarat. The promoters, APM Terminals, bought a majority stake in the company in 2005, and the port began marketing its services to clients based in North-West India. In 2010, the company launched its IPO and improved cargo volumes, the number of clients, road and rail connectivity and storage facilities. The port is part of an international network of ports and terminals belonging to APM Terminals, which is part of the AP Moller-Maersk group.
 
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