Mahanagar Gas revives earlier plan for 20 per cent stake offer
Mumbai: Having shelved an earlier plan to place 20 per cent of its equity to the public due to bad market conditions, Mahanagar Gas Ltd (MGL), a joint venture between British Gas and Gas Authority of India Ltd (GAIL), has revived its plan to offload its equity.

According to company officials the company is currently exploring two options. The first is to go public, while the second is to offer a stake to financial institutions. A final decision is expected to be taken before the end of the year.

Currently, both British Gas and GAIL hold a 35 per cent stake each in the company, while the Maharashtra government holds 10 per cent.

The company, whose pipeline network has already reached Mumbai's suburban limits, has also plans to extend its CNG supply net work to Navi Mumbai along with City Industrial Development Corporation (CIDCO) and the government's nod is expected for this venture soon. As per plans, CIDCO will lay the gas pipelines along with its water and telephone lines in Navi Mumbai, while MGL will supply gas.

Though the state government has given permission to extend the gas supply net work to south Mumbai, due to lack of space in the city MGL has not yet started its outlets there.
Back to News Review index page 

Gillette becomes official name of ISPL
Calcutta: The board of directors have approved the rechristening of Indian Shaving Products Ltd (ISPL) as Gillette India Ltd. The board’s decision is expected to be placed before the shareholders and the central government for their approval.

The change in name was due for sometime after two Gillette subsidiaries, Wilkinson Sword India and Duracell India, were merged into ISPL this year, with the aim of bringing all the Gillette companies together in order to expand the shaving firm's marketing and distribution network.

The proposed change is expected to boost the brand image of the Rs 250-crore shaving products company.
Back to News Review index page 

Ford to make Chennai base for infotech centre for Asia Pacific
Chennai: Ford Motor Company has set up a new venture, Ford Information Technology Centre Pvt Ltd., which is to become the its information technology centre for Asia-Pacific region. The company has already acquired 90,000 sq ft sapce in Tidel Park for the new venture

The centre, to be set up at a cost of Rs. 200 crore, would eventually employ 2500 software personnel.

While the initial activities of the centre would begin with IT initiatives of Ford in India and Asia-Pacific region, it is planned to extend the same to the global IT-based programmes of the company.

The centre would examine the possibility of establishing software and engineering (CAD/CAE) development for new initiatives of Ford. Other activities to be carried out from the new centre are support for maintaining and enhancing existing systems, helpline call centre for technical assistance, software development programmes and software support for e-business activities of Ford etc.
Back to News Review index page 

Infosys opens world's largest IT services facility
Bangalore: With a built-up area of 12 lakh sq ft spread over 19 buildings and 63 conference rooms on 44 acres of land, India’s leading software company, Infosys Technologies, has become the the world's largest software services facility. Christened Infosys city, the facility was inaugurated on Wednesday.

The city, has pushed the US-based EDS software services facility, with an estimated built-up area of 9 lakh sq ft over 35 acres, to second place.

The city boasts of facilities like the $1-million video wall, the largest in Asia, that would facilitate videoconferencing with 24 concurrent locations. With an investment of Rs. 320 crore, the city can accommodate 6,500 people.

The city has bagged Nortel Networks as its strategic ally in the area of wireless. Nortel will set up a centre for excellence, which would provide research, development and testing for wireless Internet capabilities.
Back to News Review index page