www.skpgroup.com August 2007
Your eye to India-centric and International updates
India Inc - Investment briefs

Japanese company to fund Punjab civil project

The Japan Bank of International Cooperation (JBIC) plans to fund a major water supply and sewerage connectivity project in the North-Indian state of Punjab.

A leading Japanese financial institution, JBIC will cover the entire cost in the form of a soft loan at a nominal rate of interest of 0.75 %- bringing water supply, sewerage connectivity and garbage disposal to urban houses in the state. The loan would be recovered over a period of 30 years, with a 10 year moratorium.

The project cost for the major cities like Amritsar, Ludhiana, Jalandhar, Patiala and Bathinda, alone is likely to cost over Rs 3000 crore, revealed government sources.

ICICI Bank joins US$ 24.75 bn club

ICICI Bank recently joined the elite league of Rs. one trillion market valuation companies like ONGC, Reliance Communications, Infosys and Tata Consultancy Services.

India’s largest private lender, ICICI Bank became the eighth company on the stock exchange to cross the Rs 1,00,000 crore mark following listing of its fresh 5.81 crore equity shares.

ICICI Bank had raised over Rs 5,400 crore in a follow-on public offer, which had received robust investor response getting subscribed 11.50 times.

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DP World's arm to start work in Kerala by Dec

Dubai Ports World (DP World) will soon commence work on Vallarpadam International Trans-shipment Container Terminal (VITCT), in the South Indian state of Kerala.

To be developed on a Build-Operate-Transfer basis, the Rs 2,118-crore (US$ 470.7 mn) project, will benefit not just the export industry in Kerala, but the neighbouring states as well.

The International terminal is likely to translate into savings worth Rs 6,000 to Rs 16,000 per container for Indian exporters.

DP World is planning to complete the tender filing process by August and has short listed six companies, from India and abroad, for the purpose. The contract will be awarded soon and work is likely to commence before the end of the year.

Meanwhile, the earth-filling work in the project area has been completed and 275,000 cubic metre of earth has been filled so far. The deadline for commissioning the terminal is April, 2009.

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Bangalore is Lenovo's marketing hub

Chinese PC maker Lenovo recently set up its global marketing hub in Bangalore, to drive its marketing initiatives. To this end the new hub will manage and track the effectiveness of the Company’s marketing strategy across the world.

The Bangalore marketing hub, which currently has 70 professionals, including 50 creative specialists from Ogilvy & Mather, Lenovo’s global media partner, is likely to further scale up operations depending upon the quantum of works it handles.

Commenting on the Company’s decision Deepak Advani, senior vice president and chief marketing officer, Lenovo, said, “We have one of the strongest marketing teams in India. Probably, our Indian team is one of the best creative teams in the entire operation. We have experience in India on building consumer brands from scratch. By setting up the global hub here, we will now leverage the marketing talents available in India.”

The Indian hub’s initial focus will be to formulate marketing strategies and create marketing deliverables for print and online use. Lenovo aims to use the hub to develop creative work in close partnership with the local marketing teams set up in the 60 plus countries that they operate. Tracking the effectiveness of the marketing campaigns launched by the Company around the world, the hub will be able to advise local marketing teams on the reuse and customisation of company held assets the world over.

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In the News
London Chamber to set up 250 learning centres in Gujarat
Genome Valley gets US certification

Interesting Reads
Global realty funds to boost Indian real estate scenario
Gujarat the emerging biotech hub
Reverse trend in India’s BPO industry
Auto majors eye 1 mn car exports by 2010

Quick Links
India tops consumer confidence index
FDI in telecom raised to 74%
Indian companies can now invest up to 300 % abroad / changes in inbound investment
International players to invest in locomotive manufacturing in India

India Inc
- Investment briefs
Japanese company to fund Punjab civil project
ICICI Bank joins US$ 24.75 bn club
DP World's arm to start work in Kerala by Dec
Bangalore is Lenovo's marketing hub
Rel Comm buys US firm Yipes at US$ 300 mn
Toyota to augment India capacity to 6,00,000 by 2015
NPIL gets nod to test cancer drug in US

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