3D(Yr 1683) 2D(Yr 2005)
The temple “Eighty Four Pillar’s Cenotaph” in Bundi city of Rajasthan. It was was built by King Rao Raj Anirudh’s Nurse Borther Devaji in year 1683. In the center of the frame and Cenotaph, you can see Lord Shiva’s Shivalinga. I also have...Forbes 40 India || India’s Biggest? Think Oil, Not Tech
Forbes.com || 31-July-2006 Foreigners can be forgiven for forgetting it, but there is more to India’s economy than IT outsourcing. Witness the Forbes India 40, the latest in our series of country rankings of the largest corporations. It is dominated by banking,...Tata Motors-Hitachi JV, Telcon, to set up new plant at Kharagpur in West Bengal
The plant will be located in Eastern India at Kharagpur, 125 km from Kolkata, in the State of West Bengal. It will be spread over an area of 60 hectares, with additional facilities for a vendor park. The investment is likely to be Rs 250 crores (US$ 54 million). Telcon presently has two manufacturing plants in India located at Jamshedpur in Jharkhand and at Dharwad in Karnataka.
The new plant will generate employment for about 500 people, including both direct and indirect jobs. The construction work for the new plant will start by December, 2006 and the operations will commence by March, 2008.
Telcon, which has been registering strong growth, needs to create new capacity to meet growing demand from India’s infrastructure sector. Simultaneously, Telcon has been selected as a source by HCMC for select equipment for international markets. The new plant, along with the two existing facilities, will help meet both domestic and international needs.
The Kharagpur plant will manufacture backhoe loaders, midi excavators, off-highway dump trucks, wheel loaders and large mining shovels. This will take Telcon towards being a full liner in the construction equipment business. It will also house a full-fledged R&D Centre, the first of its kind to enable Telcon to develop products for both domestic and international markets. HCMC, while actively participating in creating the R&D facilities, will aim at making the new Centre a Global R&D Hub
About Telcon
Telcon, the largest manufacturer of construction equipment in India, posted a turnover of Rs.1305 crores (US$ 290 Million) in 2005-06, a growth of over 40% over 2004-05, and a PAT of Rs.89 crores (US$ 20 Million), a growth of over 113%. In the quarter ended June 30, 2006, it posted a turnover of Rs.370 crores (US$ 82 Million), a growth of over 43% over the corresponding period of the previous year, and a PAT of Rs.31 crores (US$ 6.9 Million), a growth of over 219%. Telcon was set up in 1999 as a wholly-owned subsidiary of Tata Motors by the spin-off of the Construction Equipment Business Unit of Tata Motors. Subsequently, in 2000, Tata Motors inducted HCM into Telcon by divesting 20% of its shareholding; in 2005, HCM increased its shareholding to 40%. Telcon is in the business of designing, manufacturing, assembling, selling, distributing and dealing in all services related to earth moving machinery and construction equipment with manufacturing facilities at Jamshedpur and Dharwad and a marketing and service network across India. Its product range presently includes hydraulic excavators, crawler cranes, wheel loaders, backhoe loaders, dumpers and motor graders. The company is also a pioneer in adopting environment friendly road resurfacing technology. It has formed a joint venture, Telcon Ecoroad Resurfaces Pvt. Ltd.(TERPL), with HCM, GreenArm Japan, and IVRCL India to promote environment-friendly road resurfacing technology in India.
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Issued by:
Debasis Ray
Head (Corporate Communications)
Tata Motors Limited
Phone: 56657209; E-Mail: debasis.ray@tatamotors.com
www.tatamotors.com
Rs. 4600 Crores Loan by Cairns Energy for Development of Oil Areas
Smt. Raje was speaking at the Loan Contract function of the Rs.4600 crore (one billion dollar) loan taken by the Cairns Energy from the International Syndicate Bank Group for the development of oil areas in Rajasthan in New Delhi on Tuesday. The Union Petroleum Minister, Shri Murli Devra and the State Minister for Mines and Petroleum, Shri Laxmi Narain Dave was also present on the occasion.
Smt. Raje said that this was the biggest oil reserve found in the country after 22 years and it was counted among the first hundred oil reserve areas of the world. She said that the Cairns Energy had achieved this distinction by digging 125 wells in 17 oil areas in Barmer district in the last two and half years. Smt. Raje said that over 3.5 billion barrel oil reserves was expected in Barmer district and it was hoped that the Cairns Energy would start the production of crude oil in two oil areas from October this year. She said that the petroleum sector would become an important source of the revenue income and also the growth engine of Rajasthan in the next few years.
The Chief Minister expressed the hope that the Oil and Natural Gas Commission (ONGC) would soon setup oil refinery in Barmer district, which would open the door of investment in the area and industrial units based on petroleum and its other related products would be setup in the area.
Expressing gratitude to the Cairns Energy for making arrangements of funds in a short period for the development of oil areas in Rajasthan and the Union Government for continuing the work of exploration of oil wells further even after the period of 6 years, Smt. Raje defined the function as an historical event and a gift to the people of the state on ‘Hariyali Amavasaya’. She assured that the State Government would always be ready to provide every cooperation to the Cairns Energy.
Speaking in the function, the Forest, Environment and Petroleum Minister, Shri Laxmi Narain Dave said that the loan taken by Cairns Energy from International Bank Group for development of oil areas in Rajasthan would prove to be a mile stone in the development of the state and it would not only provide direct and indirect employment opportunities to the people of the desert areas of Western Rajasthan, who often faces the situation of drought and inadequate rainfall but also prove helpful in changing the economy of Rajasthan.
He informed that the State Government had provided mining lease in 1859 sq. km. area to Cairns Energy on which the company had spent 400 to 500 million dollars so far. He said that one and half lakh barrel oil per day would be available with the development of all oil areas. Over 2500 to 3000 barrel oil per day was taken out presently. He informed that the Oil and Natural Gas Commission had given the responsibility to Mangrol Refinery and Petro-Chemicals Ltd. to setup oil refinery in Barmer. He also informed that the Cairns Energy had made a payment of eight lakh dollars as compensation to the farmers, whose land had been acquired or in case of damage to the crops.
The Union Petroleum Minister, Shri Murli Devra, the Chief Executive of Cairns Energy, Sir Bill Gamel, Director International Finance Corporation, Shri Rashad Kaldeni, Shri Collin Boucefield of Royal Bank of Scotland, Financial Director of Cairns Energy, Shri Kevin Heart and the Chief Executive Officer of Cairns Energy in India, Shri Rahul Dhir also expressed their views on the occasion.