GMR Group bags 1000 MW thermal power project in Chhattisgarh
GMR Energy, the holding company for the GMR Group's energy business and a subsidiary of GMR Infrastructure Ltd, has signed a memorandum of understanding with the government of Chhattisgarh for implementation, operation and maintenance of a 1000 MW coal-based thermal power plant in Chhattisgarh.

GMR is presently in the process of identifying a project site, after evaluating proximity to coal mines and the transmission corridor. The detailed project feasibility studies are expected to begin in a fortnight. The state government will provide all necessary assistance towards the development of the project and also extend all incentives, which other industrial projects in the state receive.

As per the terms of the MoU, the state government is entitled to avail 5 per cent of net energy annually at the variable cost as determined by the regulatory commission. It also has the right to purchase up to 30 per cent power from the project for 20 years.

With this 1000 MW project, the GMR Group now has power assets of about 830 MW which are already commissioned and power projects with more than 2440 MW capacity, under various stages development.
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KEC International wins Rs380 crore order in Kazakhstan
KEC International Ltd has bagged a major Rs380 crore (approximately $94 million) order in Kazakhstan.

The company has been mandated to design, construct and commission a 475km transmission line of 500 Kv in the Ekibastuz-Agadyr section of the North-South electricity transit.

This World Bank funded project will be executed over a period of 27 months for the Kazakhstan Electricity Grid Operating Company (KEGOC).

The company, which has a current order book of over Rs3,000 crore, won the order against Japanese and Korean rivals.

KEC already has an on-going project with KEGOC, valued at over Rs260 crore, involving the design, construction and commissioning of a 500 kv transmission line over 250 kilometres in the Yukgres Shu section of Kazakhstan's North-South Electricity Transit.

"This success is important to us. KEGOC is to Kazakhstan what Power Grid Corporation is to India. This is a very challenging project. Our people will be working under extreme weather conditions that could touch minus 45 degree centigrade," said Vimal Kejriwal, executive director, international business, KEC International. "With this win, our strategy of capturing market share in CIS countries has truly begun yielding results. We look forward to leveraging our Kazakh experience across Central Asia," he added.
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Amtek Auto acquires UK company's London assets
Amtek Auto Ltd has acquired the complete assets of the UK-based J L French's (Witham) Ltd (JLF), which manufactures HPDC aluminium for automotive applications.

J L French's business has been developed to offer die-casting solutions including product design, simulation, testing, rapid prototyping, high pressure die-casting, precision machining and assembly. This is predominantly aimed at the European automotive industry however there are a number of alternative strategic markets, which could also be explored.

JLF is a well regarded full service supplier for FEAD (front end auxiliary drive) and engine / transmission bracket supply and has been a "Q1" accredited Ford Motor company (FMC) key tier 1 supplier for a number of years and is currently working towards ensuring that they are TS compliant. This facility currently makes a variety of aluminium castings for the likes of Land Rover, Jaguar, Trellborg, Ford and PSA (Peugeot).

JLF Witham facility also has a fully equipped where most of the aluminium castings produced in the HPDC facility are machined. The current sales revenues are at about $60 million with 60 per cent capacity utilisation. This facility has 18 HPDC lines between 400 and 1600 tons rating and is capable of generating sales revenue of $120 million.

This acquisition enables Amtek expand its customer and product portfolio while also acquiring new technology in automotive component manufacturing, especially in aluminium high pressure die-casting segment.
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Rolta to invest Rs2.5 billion rupees in Kolkata IT park
Mumbai: Rolta India Ltd. has planned to invest Rs. 2.5 billion to set up a software park in the capital of West Bengal, Kolkata.

The software park is to have facilities for delivering information technology-based engineering design services, geospatial services, and software development. The facility is planned to be set up in phases, and once complete, would provide employment to an estimated 5,000 technical professionals and domain experts from in the state.
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Kingfisher, Air Deccan to revise fleet purchase plans: Mallya
Vancouver: Just days after acquiring 26 per cent in Air Deccan, Kingfisher Airlines Chairman Vijay Mallya is now looking to rationalise the fleet of both carriers, and considering changes in the total fleet order of 90 aircraft, including a possible swap or switching of the orders placed by both airlines prior to UB Group's acquisition.

The UB Group will soon launch an open offer to buy an additional 20 per cent in Deccan Aviation Ltd, which operates Air Deccan. Mallya also addressed questions on the future of Air Deccan, which is currently a loss-making airline, and said that it would be profitable. Kingfisher and Air Deccan would together have a fleet of 71 aircraft, 70 destinations and 33 per cent market share.

Both Kingfisher and Air Deccan have already placed orders with Airbus Industrie, for about 90 aircraft, including five A380s, the first of which is slated for delivery to Kingfisher by 2011. Industry sources say Kingfisher is likely to revise earlier orders and place fresh orders for wide- bodied A330-400s, to be deployed on the India-US sector. Fresh orders are likely to be placed during the upcoming Paris Airshow in mid-June, and would include five A340-600s.

Sources also call the consolidation process in the Indian civil aviation space as positive and well-timed, pointing out that M&As would also address over-capacity issues in the market, and help stabilise the prices, eventually increasing yields and bringing down costs.

Besides Kingfisher's acquisition in Air Deccan, the sector has seen two other M&As involving Jet Airways-Air Sahara and Air India-Indian this year. Last year, Tata Group acquired under 10 per cent stake in budget carrier SpiceJet.
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Intel, Asustek announce plans for low-cost laptop
San Francisco: Intel Corp. has detailed plans to team up with the world's largest maker of computer motherboards, Asustek Computer Inc., to make a notebook PC costing as low as USD 200, and would cater to the education segment in developing countries. Intel, the world's largest chipmaker, has distributed laptops to children in developing countries for years, but is yet to adopt mass production along the lines of another group, the One Laptop Per Child Foundation.

According to the plan, the low-cost PC would be a full-fledged, low-end notebook, as opposed to OLPCs green-and-white plastic, kid-friendly laptops be powered by hand cranks when electricity is not available, which cost about $180 each.

The OLPC Foundation announced last month that it expected to commence delivery of millions of its low-cost notebooks in October. It is the foundation's most ambitious attempt yet to provide the devices, which analysts say could shape PC industry growth in developing countries.

Intel's laptop will use a lower-end microprocessor. It will most likely have 7- or 10-inch diameter screens, plus either traditional or a flash memory hard drive, and wireless connectivity. One model will cost about $200, with others going up to around $400 or $500 range. It will use either a variant of the freely available Linux operating system or will run Microsoft Corp.'s Windows XP.
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TCS sets new recruitment record in Orissa
Bhubaneswar: Tata Consultancy Services (TCS) has made offers to over 1,100 engineering 10 colleges in the state during the current campus placement season. This is the highest ever hiring in the history of campus recruitment in Orissa by any IT services company, with nearly 65% of these offers made to students from three leading colleges. The unprecedented recruitment establishes Orissa as a major source for engineering talent in the country for the company, which has its operations in Bhubaneswar since 2001.
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Paramount Air to buy out Wadias in GoAir
New Delhi: Continuing the ongoing airline consolidation story, Chennai-based Paramount Airways laid bare it's plans to buy out promoters Wadias in GoAir.

Wadias, the promoters of textile giant Bombay Dyeing, had reportedly offered 40 per cent to 60 per cent stake in low-cost carrier GoAir to the promoters of Paramount Airways. GoAir management however, dismisses the claims, saying the options under consideration pertain to private placement which are under discussion with some strategic players.

Paramount Airways, which plans on entering the western market in 2008, is keen on an acquisition that has a strong presence in western India. Paramount is also placing orders for 40 Embraer - 175 extended range aircraft, at a list price of $2 billion, the formal announcement of which will be made in Brazil next month. The acquisition is to be funded internally.

Paramount Airways presently claims to the largest market share of 26% in southern India, and has plans for a pan-Indian presence by 2011. In the first phase, it would enter western India, followed by the north, east, and finally the north-east. The airline plans to achieve market leadership in the western sector by 2009, planning on over 3,000 flights a month. The airline has about 1,600 flights in the southern region.
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