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Friday, September 5, 2008

Rel Power may be allowed to use surplus Sasan coal

Rel Power may be allowed to use surplus Sasan coalR

el Power may be allowed to use surplus Sasan coa

Anil Dhirubhai Ambani Group company Reliance Power has received a major boost as the empowered group of ministers (eGoM) has recommended the coal ministry to allow the former (Reliance Power) to use surplus coal from the mines allotted to Sasan ultra mega power project (UMPP) to its other power projects. However, the eGoM has given its approval subject to various undertakings by the Reliance Power. One of them is the 3,960 mw Sasan UMPP which will always have the first right and overriding priority over all coal produced from the allotted blocks and the allottee will always ensure that the generation from the UMPP for the entire contracted period will not be allowed to be affected by utilisation of incremental coal by any other project of the Reliance Power. Any loss in generation of the awarded UMPP at Sasan will only be on account of genuine reasons such as maintenance and repairs.

Besides, incremental coal quantity would be determined based on the mine plan approved by the coal ministry. End use of coal from these blocks would be restricted to power generation and on top of it, the power generated by utilising incremental coal from these captive coal blocks would be sold through tariff-based competitive bidding.

It must be mentioned here that Reliance Power has planned a total capacity addition of 28,500 mw during 11th and 12 plans.

Sources told FE on the sidelines of the Coal India conference organised by the coal ministry and the Indian Chamber of Commerce on Friday, “The matter was examined and discussed at length by eGoM headed by power minister and it was agreed that for expeditious implementation of coal-based thermal power projects, which would also increase the generation capacity of the country, and for optimal utilisation of coal reserves in the blocks allotted to UMPPs, incremental coal may be permitted to be used by other projects of the same developer of the UMPP subject to necessary safeguards. It must be ensured that the allotted UMPPs and procurers from UMPPs do not suffer for lack of coal and also that incremental coal is not misused by the developer. This decision will apply to Reliance Power also.”

Sources said that the decision was crucial when the centre has launched the capacity addition of 78,700 mw of which more than 60% is expected to be coal based.

Reliance Power had informed the power ministry that it...

Thursday, September 4, 2008

Tata says Nano launch will be on schedule

TATA says Nano launch will be on schedule

Thu, Sep 4,2008 07:35 PM
Kolkata, Sep 4 (ANI): TATA Group Chairman Ratan Tata today said that he is doing everything possible to launch the Rs one lakh Nano car as planned.

Meanwhile, West Bengal Governor Gopal Krishna Gandhi has begun preliminary discussions with the State Government and the Trinamool Congress.

The Governor also held a meeting with Sudip Bandopadhyay, the chairman of the State Assembly's Standing Committee on Commerce and Industry.

Taking to reporters after the meeting, Bandopadhyay said: "The Governor asked me to meet with him. I told him that the alternative land must be given to the farmers, but Tata should not pullout. The company should not take any decision in a hurry. They must understand the plight of the farmers."

According to sources, the state's Industry Minister, Nirupam Sen, accompanied by Panchayat Minister Surya Kanta Mishra met Governor Gandhi to prepare the groundwork for Friday's talks to end the deadlock.

Gandhi held a two-hour-long meeting with State Government ministers and met a Trinamool Congress team separately at his residence.

Earlier, Gandhi sent a letter to Ratan Tata informing him about the initiative taken to resolve the Singur deadlock.

A total investment of Rs 1,500 crore has been envisaged for Tata's ambitious project to roll out the Rs.1 lakh car by October.

The project, however, has been mired into a controversy with Trinamool Congress chief Mamata Banerjee demanding the return of 400 acres out of a total 1,000 acres land leased out by the State Government. (ANI)

RIL 5th in Forbes Asia's Fabulous 50

RIL 5th in Forbes Asia's Fabulous 50
--> RIL 5th in Forbes Asia's Fabulous 50-->
Thu, Sep 4, 2008 04:34 PM
Ten Indian companies led by the likes of state-run Bharat Heavy Electricals, telecom major Bharti Airtel and Mukesh Ambani-led Reliance Industries have made their way into the Forbes' list of 50 best listed companies in the Asia-Pacific region.
The 'Asian Fabulous 50' ranking is topped by Taiwan-based computer maker Acer, while BHEL and Bharti Airtel are the top ranked Indian companies at the overall fifth and sixth spots.
Acer is followed by Chinese steel maker Angang Steel, Taiwan's Asustek Computer and Indonesia's Bank Rakyat Indonesia at the second, third and fourth spots, respectively.
Among Indian firms, BHEL and Bharti Airtel are followed by private sector lender HDFC Bank (22), IT bellwether Infosys (25), diversified conglomerate ITC (27), engineering and infrastructure firm Larsen & Toubro (30), auto maker Mahindra & Mahindra (34), Reliance Industries (39), world's sixth largest steel maker Tata Steel (44) and software exporter Wipro (46).
Among countries, China has the maximum representation with 13 firms, while India comes second with its 10 companies.
"Indian companies once again had a strong showing, with 10 making our cut. Infosys and Wipro, perennial top performers, are back for the fourth year. Reliance Industries, Bharat Heavy and Larsen & Toubro are back for the third year."
"Consumer-oriented companies such as Bharti Airtel, HDFC Bank, Mahindra & Mahindra and ITC are growing with India's middle class," the magazine said in an accompanying report.
The list is based on long-term profitability, sales and earnings growth, stock price appreciation and projected earnings for every company in the region with revenues or market capitalisation of at least five billion dollars.

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Tuesday, May 6, 2008

Ma Foi Employment Survey (MEtS)

1Million New Jobs in India in 2008

Ma Foi’s Employment Survey – MEtS predicts a 3% increase in employment this year.

Ma Foi Management Consultants Limited, India’s largest HR Staffing and Solutions provider has announced the findings of the Ma Foi Employment Trends Survey (MEtS), on March 6, 2008. The Ma Foi Employment Survey (MEtS) is one of the largest and comprehensive studies undertaken to predict the employment trends and opportunities in the organized sector in the country. The first MEtS Survey was commissioned in November 2004.

Conducted by Ma Foi, which is a part of the Vedior group and the largest HR service provider in India with 104 offices across the globe, the first MEtS Survey was commissioned in November 2004.

The 2008 MEtS Report captures the employment scenario of 22 different sectors as of December 2007 and predicts the future employment trends for 2008 in the organized component of these sectors. This survey was conducted across 2006 units spanning all major industry segments from all over the country.

Key Highlights of the report:

• % of Growth in Recruitment:

Health Sector shows the highest growth in recruitment at 8.9% followed by IT at 7.3%, ITES at 7.2% and Hospitality at 6.9%. According to FICCI the healthcare industry has emerged as one of the most challenging sectors in India with estimated revenue of about $ 30 billion (FY 2005) constituting 5% of the GDP. The Indian Health Services sector is estimated to be around Rs. 750 billion and is estimated to grow by 170% by 2012. Going ahead, the demand for healthcare and therefore employment in this sector is expected to rise in line with the trend.

• Employment increase in 2008:

The Hospitality sector is shown to generate the maximum number of employment in 2008. 426,668 jobs are going to be generated by the Hospitality sector. This sector is closely followed by Health at 295,829 and Education Training & Consultancy at 166,005.

The lowest employment generating sectors for 2008 are Manufacturing of Food and Beverages, Minerals and Metal Products and manufacturing of Furniture.

An estimated US$ 11.41 billion is expected to be seen in the Hospitality sector in the next two years. India is likely to have around 40 international hotel brands by 2011. Along with these large scale expansion plans, international hotel asset management companies are also likely to enter India. The boom in the tourism industry has had a cascading effect on the hospitality sector, which was a result of the increase in the occupancy ratios and average room rates. While occupancy ratio is around 75-80%, the average increase in room rates hovered around 22-25% (July-September 2007). With the demand continuing to surge, many global hospitality majors have evinced a keen interest in the Indian hospitality sector.

• Number of jobs in 2008:

The sectors generating the highest number of jobs in 2008 are Education at 10,429,312, Hospitality at 6,595,879 followed by Health at 3,616,525. Faced with high growth potential, firms in the production and service sectors have found themselves constrained by the quality of the workforce. Raising employability levels has therefore been an objective not just for the workforce looking for jobs, but also for the companies who have initiated partnerships with private and public institutes to build up relevant skills and training. It is for this reason that the Education sector has seen high employment growth and though there may be a slowdown as economic growth moderates this year, employment growth will remain highly positive this year.

Mining Sector records the lowest number of jobs in 2008. With the PSUs being major players in the sector, the employment is seen to be on the downturn because of the same reasons impacting the employment in PSUs of other sectors. The VRS schemes and lack of new employment opportunities is further adding to the low employment figures.

Other key highlights :

• At 19%, the Real Estate and Construction Industry records the highest percentage of work outsourced followed closely by Hospitality at 18.5%

• Experienced workers are hired more than freshers, who constitute a little more than a quarter of the newly hired. Sectors where the demand for freshers is above 30% include Hospitality, Energy Generation & Supply Sector, ITES and Mining & Extraction. Real Estate & Construction stands out as the sector in which more than 75%of the recruitments are of experienced professionals.

• It is observed that the Energy Generation & Supply sector will experience the highest average salary increase (16.8%). Other booming sectors in terms of average salary increase are IT, Real Estate & Construction, Trade and Hospitality sector among others.

Current indications show that the impact on expected employment over the next one year is mixed. Some sectors such as mining, minerals, food products, furniture, textiles are expected to turn in negative growth in employment while there are many such as health, hospitality, IT and ITES, real estate and construction that are expected to generate jobs. India’s growth trajectory has changed considerably and both stakeholders- the corporate world and the government are aware of the responsibility on them to uphold the new standards of growth and employment.

Monday, April 21, 2008

An amazing story: From Rs 60,000 to Rs 435 crore!

Image: K Pandia Rajan with his wife Hemalatha, at their office in Chennai.

An amazing story: From Rs 60,000 to Rs 435 crore

The Inspiring Story of the Ma Foi couple

Today Ma Foi Management Consultants is the largest HR services provider and staffing company in India, with a turnover of Rs 435 crore (Rs 4.35 billion).

Ma Foi has so far helped generate career opportunities for more than 169,000 people in 35 countries.

K Pandia Rajan started it in 1992 with a capital of just Rs 60,000. Ably assisting him in his long journey has been his wife, Hemalatha Rajan, who is also the director of the company.