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Friday,
August 30, 2002, Chandigarh, India  
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To recruit 2,100 engineers
21 apply for PTL adviser’s post
Metro to export two-wheeler tyres |
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Industry told to get NOC on pollution by Sept 30
33 FDI proposals worth 53 cr cleared
Maruti to introduce M800 limited edition
Smart Mailz launched
Honda unveils car navigation system
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To recruit 2,100 engineers New Delhi, August 29 “I am happy to announce that Intel has decided to invest $ 130 million for expansion of its operations in India and it has also decided to increase its professionals from the existing 900 to 3,000 in the next three to five years”, Communications and IT Minister Pramod Mahajan told reporters here after signing an MoU with the visiting Intel CEO Craig Barrett. The MoU will envisage Intel and the Ministry’s joint working in the field of education and e-governance among others. Speaking on the occasion, Barrett said Intel has decided to set up a chip design centre in the country. The centre which will initially have 30 to 40 engineers will work on high-end 32-bit Intel Architecture platform inside the Bangalore centre, he said. There is, however, no thinking on setting up of any manufacturing facility in India at least at the moment”, Barrett said. The issue of a chip manufacturing base also came up during the discussion Barret had with Mahajan. Under the MoU, in the e-governance sphere, Intel will form consortia with industry partners with domain knowledge to develop and implement pilot solutions to the Central Government and identified state governments. It will also provide technological know-how to these projects and share technology roadmap to ensure the best technology under non-disclosure agreement, according to the MoU. Under the education partnership, an additional 100,000 teachers are likely to be trained by Intel in 2003 while the company would continue its initiative in curriculum design and faculty development covering 44 academic institutions. Intel will also partner the Ministry under the Vidya Vahini project which is a pilot at present covering 150 schools. The chip major will also provide training and content support to the Education and Research Network (ErNet) Society under the Ministry. Intel and centres research initiative Media Lab Asia will explore the possibilities of cooperation to bridge the digital divide. Craig Barrett also met Prime Minister Atal Behari Vajpayee. The Intel CEO presented a memento to the Prime Minister.
PTI
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21 apply for PTL adviser’s post Chandigarh, August 29 Ms Vini Mahajan, Director, Disinvestment Commission, Punjab, said 20 firms had submitted their EOI, including Ernst & Young, Lazard India, Merchant Banking division of the UTI, ANZ Grindlays, Abacus and Sicom. She said,‘‘ In the next few days, the
commission would call their representatives to make their presentations about their plans, terms and conditions. Within two weeks, we would finalise the names of the advisers. ’’ Incidentally, the bids for EOI for the Punjab Alkalies and Chemical Ltd.- failed to generate much response from the advisers. Only nine firms had submitted their EOI by August 23, the last date for the submission. The stock market analysts point out that the Punjab Government’s plan to generate funds may not be fulfilled due to depressed market conditions and the impact of drought on the tractor market. In fact, the share price of the PTL has declined from Rs 181 about nine months ago to Rs 144. Till a few days ago,it was hovering around Rs 152, however, the poor results of the company in the first quarter and the impact of the draught on the market have adversely affected its shares. As far as Punjab Alkalies is concerned, its share price is between Rs 10-12 for the past many months. The insiders say since the company had already lost its competitive edge in the market, it would require heavy investments from the bidders to revive its fortunes. The officials said though the government was yet to decide the per cent age share to be offered to the bidders, however, the company could fetch good premium of 25 to 40 per cent over its current market value. Different stock market experts, they said, had assessed the value of PTL varying from Rs 400 to Rs 800 crore, however, the bidder would have also to make a bid for its subsidiaries— Swaraj Mazda and Swaraj Engines.
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Metro to export two-wheeler tyres New Delhi, August 29 The company will start manufacturing tyres of motor-cycles, scooters and mopeds at its new plant in Ludhiana, which was set up with Swedish technology last year at a cost of Rs 40 crore. Metro is investing another Rs 20 crore in this plant to create a manufacturing line for two-wheeler tyres. The new manufacturing line will produce 6,00,000 tyres and 6,00,000 tubes per annum. “We will tap the original equipment manufacturer (OEM) as well as the replacement market in Europe, USA, Canada and Japan”, Managing Director of the company Mr Rummy Chabbra told The Tribune. Metro’s foray into two wheeler tyres comes immediately after the company’s recent foray into sports wheel segment. Recently Metro had signed a long term agreement with German tyre major Continental AG to produce hi-tech rubber sports wheel in India. The company is targeting a turnover of Rs 500 crore by the end of next three years and export figure of Rs 100 crore. The total turnover of the company in the last fiscal was Rs 257 crore, out of which exports constituted around Rs 35 crore. This is in addition to Metro’s earlier tie-up with Continental to export bi-cycle tyres under the Metro brand name. The company has recorded a 110 per cent jump over the previous year’s export this year and has exported tyres worth Rs 18 crore in the present year. “Our association with Continental gives us a rich experience of overseas markets. At present, negotiations are at an advanced stage with two-wheeler manufacturers in overseas markets”, Mr Chabbra said. In the bi-cycle segment, Metro Tyres has the capacity to produce 1.5 lakh tyres and 1.5 lakh tubes per day. In the domestic market, Metro is supplying tyres to Hero Cycles, Atlas, RMI and TI Cycles besides catering to the overseas OEM market. The company has also recently launched its bicycle tyres under the Ortem brand name.
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Industry told to get NOC on pollution by Sept 30 Patiala, August 29 At a meeting of the board presided over by Chairman Satish Chandra here yesterday it was decided to direct all such industries to acquire NOCs from the board immediately. It was also decided that the board would start the process of serving notices to errant units after September 30 and that all such units would be closed it by October 31. The board also decided that rice sheller owners would be allowed to mill paddy during the coming season only if they had installed pollution control devices in their premises. Similarly it was decided that licences of only those brick kilns would be renewed who had installed the required devices to control pollution. Mr Satish Chandra also gave directions to environment engineers to do a special survey and prepare an area-wise list of the number of industries in their areas and asecertain how they were disposing of their waste material. He also directed the engineers to take samples of chemical waste disposed of by the industries in their areas to know whether hazardous chemicals were being released by them. The meeting also reviewed the pollution level in various cities and it was revealed that Ludhiana topped the pollution chart followed by Mandi Gobindgarh and Jalandhar. It was also revealed that as many as 208 out of 301 units in the large scale industry category has still not acquired NOCs and that the figure was 303 out of 312 units in the medium sector and 2,125 ot of 9,419 units in the small scale sector.
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33 FDI proposals worth 53 cr cleared
New Delhi, August 29 The proposals were cleared by the Commerce and Industry Minister Murasoli Maran on the basis of recommendations made by the Foreign Investment Promotion Board (FIPB), an official release said here. The proposal of Yamaha Motor for payment of royalty and lumpsum on manufacture of two new four-stroke motor cycle models by its fully-owned Indian subsidiary Yamaha Motor India was also cleared. Detroit Diesel proposal to trade in hi-tech diesel engines manufactured by its companies worldwide through Bangalore-based MTU Detroit Diesel India also received approval. The Rs 9.80 crore proposal of US company Avnet Inc to increase equity to 100 per cent in its Indian arm, Avent Max was also cleared. Other proposals cleared included US auto component maker Visteon Global Technologies for amendment in terms of technical alliance with its local unit Visteon Automotive Systems India.
PTI
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Maruti to introduce M800 limited edition
New Delhi, August 29 The new car will be priced at about Rs 7,000 higher than the existing variants at Rs 1.98 lakh (Ex-showroom Delhi) for the Standard Euro-I version and Rs 2.16 lakh and Rs 2.65 lakh for the Standard and Deluxe (both Euro-II) versions, the officials told PTI here. Besides, Maruti is also expecting a nearly 40 per cent rise in sales of the car this month at about 12,500 units as against 8,932 units sold in the previous month. The limited edition M800 will be sold for only three months till November this year to coincide with the coming festive season. It will have body graphics, body-coloured bumpers and body-coloured front-grill and will be available in two new colours — Moonbeam Silver and Riviera Red. The car will have colour-coordinated interiors, including seat upholstery, door trim, leather steering wheel cover and carpets besides a new instrument cluster. The launch of the new variant is also likely to have been influenced by the good market response received to a limited edition M800 launched earlier this year along with the current rise in demand of the car after the price cut.
PTI
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Smart Mailz launched
New Delhi, August 29 As an online e-mail marketing tool, Smart Mailz will allow companies to manage online campaigns and marketing activities in an efficient and cost-effective manner. Smart Mailz will help companies to carry out their e-mail marketing initiatives by allowing easy campaign planning and execution, direct interaction with customers. Some features of Smart Mailz include creation of professional looking messages, pre-scheduling delivery options and time for different campaigns at one go.
TNS
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Price index up Award for P. Mark Deal for Leyland Food processing Manager trophy Transport fair PNB loans CMC growth SBI dividend |
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