Bharti launches NLD services
New Delhi: Bharti Group on 17 December launched its national long distance services under the brand name India One and promised deep discounts to operators who want to interconnect with Bharti's network.
While Bharti has refused to divulge the details of the quantum of this discount, it does say that the interconnect rates will be far lower than what Bharat Sanchar Nigam (BSNL) offers. If this discount is passed on to the consumers it would mean much cheaper STD rates in the country.

National long distance telephony sector has so far been monopolized by the public sector giant Bharat Sanchar Nigam Limited (BSNL).

Some time back, Reliance and Bharti had worked out interconnection deals with BSNL for their basic and mobile services but just last week the TRAI came out with a set of recommendations and a revenue sharing plan for the players as far as long distance telephony is concerned.
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Norsk Hydro pulls out of Utkal Alumina project
Kashipur: Norsk Hydro, the Norwegian Company, which had a 45 per cent stake in the Rs 1000-crore Utkal Alumina International Project in Kashipur, Orissa, has decided to withdraw from the project.

The Aditya Aluminium group is expected to be buying the Norsk shares. The other stake-holders in the project are INDAL with 20 per cent and Al-Can, a Canadian company with a 35 per cent stake.

Norsk, which had initially a 25 per cent share in the company, had bought the 20 per cent share from the Tatas to become the largest shareholder in the multi-national company. The project had been a non- starter because of intense opposition from local tribal residents
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M&M to launch 18-seater van
Mumbai: Mahindra & Mahindra Ltd (M&M) is planning to launch an 18-seater van by February-March next.
M&M is planning to cater to the school bus segment and corporate houses with the minibus. The company is expecting the market size to be in the range of 300-400 units per month.

Telco currently has a 22-seater model, which caters to the school bus category.

The model will be powered by the DI 3200 engine, which has been indigenously built by M&M.
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Volvo India rolls out luxury bus
Mumbai: Volvo India has launched a luxury AC-bus - B7R -priced at Rs 40 lakh.

The B7R - built on a true bus chassis and sold in Asia Pacific, Africa, Middle-East and parts of Europe - has 45 seats.
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Best Western plans 30 hotels
New Delhi: Global hotel chain Best Western International Inc plans to almost double its existing presence in India to 30 hotels by 2004. At present, the US-based hotel chain has 16 properties in the country.

The chain, which was launched in India in 1993, would also add nine hotels in other South Asian countries like Bangladesh, Nepal, Sri Lanka and Maldives and the Middle East to the present six in next few years.

All of these hotels would be mid-market (three or four star hotels), which is the fastest growing segment in the hotel industry.

Best Western has properties in Chennai, Cochin, Dehra Dun, Gurgaon, Hyderabad, Jodhpur, Mathura, Munnar (Kerala), Mumbai, Mysore and Kovalam.

It has identified Goa, Pune, Bangalore, Jaipur, Delhi, Allahabad and other cities as its upcoming locations.
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Indo-Gulf eyes Aussie copper mine
New Delhi: Indo Gulf Corporation, an Aditya Birla Group company, is exploring the possibility of acquiring a copper mine in Australia. The Birlas are looking at the possibility of investing around Rs 50 crore for the overseas acquisition plan.

Since Indo Gulf imports a total of 350,000 tonnes of copper concentrate annually, a mine of its own would significantly reduce the cost of production.

Analysts said that the cost of acquiring a mine have come down globally, due to a sharp fall in copper prices after September 11.
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Madison starts outdoor publicity co
Mumbai: Madison Communications has floated an independent outdoor services company called Madison Outdoor Media Services. The company has a paid-up capital of Rs 1 crore and will provide specialist services in the area of outdoor communications.

The company is headed by Anup Jalan, who has an equity stake in the company and many years of experience in outdoor ownership, outdoor contracting and outdoor servicing.

The companys client list includes HBO, Coke, Zee, Kinetic, VIP, Delsy, Nokia and Jet Airways. The company has offices in Bombay, Delhi and Bangalore.
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McDonald's to enter railway stations
New Delhi: McDonald's India is planning to set up chains at 25 railway stations across the country.

The company has tied up with hospitality services provider Radha Krishna for food centres at different railway stations.

The Indian Railways had decided to rope in fast food majors for establishing food courts and a consortium of fast food companies including Mcdonalds has expressed interest in setting up several joints.

The company has shown interest in railway stations like Jaipur, Agra and Nizamuddin.
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Fortune Cookie to invest Rs 10-12cr
New Delhi: Fast food company, Fortune Cookie will invest upto Rs 12 crore to open eight to 10 eating places across the country over the next couple of years

The company plans to open eight to 12 Chinese fast food joints. Three restaurants will be opened this fiscal itself.

The company is in talks with financial institutions for tying up funds.
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Jindal Polyester to invest Rs 125cr
Mumbai: Jindal Polyester will invest Rs 125 crore in setting up a new facility for manufacture of films at Bhuj in Kutch district of Gujarat.

The new production plant for the manufacture of biaxially oriented polypropylene film unit having a capacity of 30,000 tonnes per annum will involve installation of two new lines.

Around 75 per cent production would be targeted for domestic market and the remaining 25 per cent would be for exports.

The project is expected to begin commercial production by December 2002.
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Arcus plans Rs 100-cr retail expansion
New Delhi: Home-furnishing company Arcus will invest Rs 100 crore in expanding its retail presence throughout the country.

The company plans to open ten stores in Delhi, Mumbai, Kolkata, Chennai, Bangalore and Hyderabad. The money will be generated partly through internal accruals.
The company opened its first store in November last year in Gurgaon, Haryana, with an investment of Rs 12 crore and claims to have broken even in October this year.
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