Year: 2007

Areva T&D India has announced that AREVA Transmission & Distribution (T&D) India has bagged its first Turnkey AIS sub station contract from ESSAR Steel at a value of 630 MINR.

This 3.9 MTPA Expansion project at Hazira entails the complete design, supply, erection, testing & commissioning of 220 kV Switchyard on Turnkey basis and also the supply of 160 MVA, 220 kV, 90 MVA, and 220 kV power transformers.

Maharashtra State Electricity Transmission (MSETCL) has also placed its first Gas Insulated Switchgear (GIS) complete turnkey solutions order on AREVA T&D India. This order is valued is at 339 MINR. This project endeavours to improve the power quality and reliability for the Infotech city of Pune.

The scope includes turnkey execution of the 132/22/11 kV rasthapeth substation involving design, supply, civil work, erection, testing and commissioning of multiple bays of 132 kV GIS, 50 MVA and 25 MVA transformers, control relay panels and numerical bay control system. AREVA T&D offers state-of-the-art GIS technology along with Spring operating mechanism and aluminium enclosure. The product offering also provides an undoubted advantage of compactness, modularity and reliability for the customers.

Chambal Infrastructure Ventures (CIVL), a fully-owned subsidiary of Chambal Fertilisers & Chemicals (CFCL), a KK Birla group company, is likely to sign a memorandum of understanding (MoU) with the Orissa government for setting up a 2,000-mega watts thermal power project with an investment of Rs 8,000 crore in the state. The project will come up at Saria in Dhenkanal district.

The project proposal is now being considered by the single-window clearance committee of the Orissa government.

CIVL has applied to the state-owned Industrial Investment Promotion Corporation of Orissa (IPICOL) for 2,000 acres for the project. It has also applied to the coal ministry for allotment of a coal block. The project could be taken up jointly with the state government as the Orissa Hydro Power Corporation and Orissa Mining Corporation have coal blocks, reports suggest.

Chambal Fertilisers’ net profit rose 93% to Rs 61.71 crore on 11.7% rise in sales to Rs 595.11 crore in Q1 June 2007 over Q1 June 2006.

Larsen & Toubro (L&T) has won a repeat order valued at over US $ 70 million for construction of two ship from RollDock BV of the Netherlands, (erstwhile Zadeko shipmanagement CV).

The order re-establishes the customer’s confidence in L&T’s progress into shipbuilding which was commenced last year. The vessels will be built at the existing shipyard which is a part of the company’s state-of-the-art engineering complex at Hazira, Surat.

RollDock, the Rotterdam-based shipping company, caters to special purpose cargo movements. Its management has expressed their desire to continue the company’s association with L&T for its future vessel acquisition programme. They have also signed an agreement that includes options for more vessels of the same series to be built later this year. The vessels will be delivered by May 2010.

In technical terminology RO-RO/LO-LO are semi-submersible, heavy lift container cargo ships. These highly specialized vessels are among the only ones of their kind to be built in India. The vessels have a deadweight capacity of over 8250 tonnes, cargo volume of 17000 cubic metres and can carry 830 TEU of containers.

Switzerland’s Holcim today said it had acquired 3.9% additional stake in Ambuja Cements from the founding families at Rs 154 shares, in a deal worth $220 million.

Holcim also said it would launch a public takeover offer for another 20% of the share capital of Ambuja Cements in a bid worth around $1.12 billion. “Provided that the public offer is accepted in full, Holcim’s stake in (Ambuja) will rise to more than 56%,” Holcim said in a statement. The open offer will be made at Rs 154 per share, representing a 20% premium over the average price of the shares for the last two weeks, Holcim said.

The current price of Asian Granito is Rs 86 which is below the issue price of Rs 97.

Asian Granito India’s IPO had ended on 31 July 2007 with 4.51 times subscription. The qualified institutional buyers (QIBs) category was subscribed 3.06 times, the non institutional investors category was subscribed 10.01 times, the retail individual investors category was subscribed 4.64 times and the employees category was subscribed 1.37 times.