สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 13 มิถุนายน 2555
Maruti Suzuki to merge with Suzuki Powertrain
In a move that will bring all diesel engine manufacturing facilities of Maruti Suzuki India Ltd (MSIL) under a single management, the country’s largest auto maker on Tuesday approved a proposal to merge group unit Suzuki Powertrain India Ltd with itself.
After the merger, Japan’s Suzuki Motor Corp’s stake in MSIL will go up to 56.2 % from the current 54.2 %. The merger will be effected through a share swap. There will be no cash outflow from Maruti Suzuki India.
Suzuki Powertrain, which is a 70:30 joint venture between parent Suzuki Motor and the Indian subsidiary MSIL, supplies 300,000 diesel engines and transmissions to the company annually.
(Sources: Business Standard, Livemint, Economic Times, NDTV)
Tata Steel's Kalinga Nagar plant to be ready by March, 2014
The first phase of the proposed six million tonne greenfield steel project of Tata Steel at Kalinga Nagar in Jajpur district will be ready by March 2014.
Tata Steel, as the anchor tenant for the Gopalpur industrial park, has lined up two projects there - a 50,000 tonne per annum ferroalloys plant and 400,000 tonne per annum bar mill.
The company would invest $ 180 million on these two projects which would initially create employment for 1,000 people.
(Sources: Business Standard, Economic Times, Smartinvestor, Indiatimes)
Industry meets PM for infra push, wants major projects to be cleared in 3 months
In a meeting with Prime Minister Man Mohan Singh, Assocham President Rajkumar Dhoot suggested that major infrastructure projects should be cleared in the next three months. CII also pushed for clearance of about $ 17.96 billion of dues to the private companies.
(Sources: Business Standard, i4u, Hindu Business Line)
Karnataka attracts $ 17.96 billion investment proposals in steel
The temporary ban on iron ore mining and cap on extraction of ore to 30 million tonnes by the Supreme Court in Karnataka has not deterred the iron and steel industry from investing in the state. At the just-concluded Global Investors’ Meet (GIM 2012) in Bangalore, the state government has managed to attract fresh investment proposals worth over $ 17.96 billion to the steel sector.
Top steel producers like JSW Steel, Tata Steel and largest mining firm NMDC are among some one dozen companies that have signed memoranda of understanding or expressions of interest to set up steel plants in Karnataka.
(Sources: Business Standard, Economic Times, the Hindu, Moneycontrol)
West Bengal assures industrialists support for investment
As availability of land remains to be the biggest cause of concern for industrialists, West Bengal government on Tuesday assured investors of all possible assistance if they come up with definite investment proposal.
Most of the queries of the business community present in the meeting were about land. There was also proposal from the investors to abolish the entry tax in the state. According to the state industry minister, the government has received investment proposals to the tune of $ 18.50 billion in the past one year.
(Sources: Business Standard, the statesman, tribune)
Economic Section
Royal Thai Embassy