| M&M
to set up SEZ in Jaipur |
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| Mahindra &
Mahindra Ltd recently announced its plans to set
up a special economic zone at Jaipur with an investment
of $ 2 bn. The zone spanning over 3,000 acres would
be executed by a special purpose vehicle (SPV),
‘Mahindra World City Jaipur Ltd’ (MWCJL)
formed by Rajasthan State Industrial Development
& Investment Corporation (RIICO) and Mahindra-Gesco
Developers Ltd (MGDL).
The project for
setting up the fully-integrated business city in
the SEZ format, would include high end infrastructure
such as — 6 lane roads; a dual-source grid,
guaranteeing continuous power supply; unlimited
bandwidth; and abundant potable water. Enabling
companies to set up operations with ease, the project
is expected to generate 1 lakh jobs.
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| ImaGem
opens grading centre in Surat |
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| ImaGem Technologies
Pvt. Ltd. recently opened its diamond grading centre
in Surat. The fully automated centre offers integrated
diamond grading services, and is the first facility
of its kind in Asia.
A subsidiary
of the US-based ImaGem Inc, the Company’s
automated system offers high repeatability on all
measures, including colour, clarity and light behaviour,
and allows users to track diamonds internally and
around the world, without the need for an inscription.
The patented
diamond grading technology used at the centre also
measures a diamond's light behaviour performance
in terms of brilliance, intensity and sparkle, the
4 Cs of cut, clarity, carat and colour, and offers
grading reports on them.
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| Same
Deutz to invest $10 mn |
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Italy's Same
Deutz-Fahr plans to make India into a manufacturing
hub of tractors for its East Asian markets. In addition,
the Company will also source engines and transmissions
from India for its European operations.
The $1.13 bn
Same, has already invested Rs 130 crore (US$ 30.2
mn) over the last few years in its engines and tractors
plants at Ranipet, near Chennai, its only manufacturing
presence in Asia. The Company plans to invest a
further $10 mn (about Rs 44 crore) over the next
three to four years.
Same's India
plans revolve around India’s growing market
demand for tractors with more power. It recently
launched two new tractors: a 55 HP tractor with
a 4-wheel drive and a 35 HP tractor. The Company
expects to escalate its manufacturing capacity from
the current 7,000 units to 15,000 units over next
three years. It also has plans to launch a combine
harvester in India.
The company
has targeted a turnover of Rs 138 crore- Rs 150
crore (US $32-35 mn) in the current financial year
and a cash profit of Rs 3 crore (US $ 0.7 mn). |
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| Seco
Tools from Sweden to set up EoU in India |
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| Swedish metal
cutting tools manufacturer, Seco Tools AB, plans
to relocate a global product line to India.
The $610 mn
Co will be investing Rs. 40 Crore (US $ 9.3 mn)
in the next 3-years to create an export oriented
unit (EoU) in India. Scheduled to begin commercial
production from June’ 06, the EOU will manufacture
1-lakh tool holders annually, which will supply
Seco’s global needs. With a conservative estimate
of a cost advantage of around 30% the Company plans
to move global tool holders from two of its European
plants to the new Indian plant and may even consider
relocating more products in the future. It also
plans to integrate its Indian research with its
global.
| Kai
Warn, President and CEO, Seco Tools
AB, in a recent announcement said, “The
India market is growing very fast and
is hugely successful and capable…………..We
will make India take a larger regional
position in Asia, through exports to
other Asian countries, including China.”
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The Company also
sees exceptional growth potential in the Indian
domestic market, fuelled by the Automative and Auto
component sectors. Powergen and aerospace sub-contracting
are also likely to pickup to pick up in India, creating
a demand in the Rs. 620 crore (US$144 mn) domestic
cutting tools market.
In view of the
growing market potential Seco Tools is even considering
a relocation of its Asian headquarters from Singapore
to India.
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| Eurocor
to use India as hub |
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| European cardiovascular
devices manufacturer, Eurocor GmbH, plans to make
India its hub to tap South Asian markets such as
Bangladesh, Nepal and Sri Lanka.
While the size
of the Indian market is 60,000 units of coronary
stents, Eurocor has plans to capture at least a
10% share. The rest of the South Asian markets are
also growing at a fast pace, especially Bangladesh
at the rate of 35-40 %, making the Indian venture
a lucrative proposition.
With projections
for a turnover of Rs 30 crore (US$ 7 mn) in the
first year, Eurocor expects turnover from India
to touch Rs 60-70 crore (US$ 14-16mn), exclusive
of exports to South Asian countries. Earlier the
Company used to sell its products in the country
through distributors.
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