Honda Motorcycle & Scooters will set up its second plant near Bhiwadi in Rajasthan with an initial capacity of six lakh units per annum in the first phase with an investment of Rs500 crore
Japanese automaker Honda Motor Co Ltd's unit Honda Motorcycle & Scooter India Pvt Ltd (HMSI), will set up its second plant in Rajasthan at an investment of Rs1,100 crore with an installed capacity to produce 12 lakh units per annum, reports PTI.
"Keeping in view the economic and financial environment of the state, the Cabinet has granted its approval for granting a customised package to the company (HMSI)," a top government official said.
The bhoomi poojan and construction work is likely to begin this month itself, the official added.
While HMSI officials were not available to confirm the development, the Rajasthan government official said that the company will set up the plant near Bhiwadi with an initial capacity of six lakh units per annum in the first phase at an investment of Rs500 crore over a five-year period.
The company intends to ramp up the capacity to 12 lakh units per annum, which could entail an additional investment of Rs600 crore in the second phase, the official added.
HMSI currently manufactures two-wheelers at Manesar in Haryana with a capacity of 15.5 lakh units per annum.
Last year, it had threatened to move out of Haryana due to a labour strike, which resulted in losses of over Rs300 crore as production came down by almost 50% due a go-slow agitation by its factory employees during August and October.
The company produces scooters ‘Activa’ and ‘Dio’ along with motorbikes ‘Unicorn’, ‘Shine’ and ‘CBF Stunner’ at its Manesar plant.
NTPC may offload its 16.5% stake in PTC India as it wants to concentrate on its own trading company NTPC Vidyut Vyapar Nigam
State-owned NTPC Ltd is believed to have approached the power ministry for selling off its 16.5% stake in PTC India Ltd as the company plans to focus on its own power-trading business, reports PTI.
PTC India is a government initiated Public-Private Partnership (PPP) power trading solutions provider, which is primarily focused on developing a commercially vibrant power market in the country. NTPC, NHPC Ltd, Power Finance Corp and Power Grid Corp currently hold 16.5% stake each in PTC India.
NTPC would like to offload its stake in PTC India as PTC is already off the ground, sources in the know said.
The power generator would want to concentrate on its own trading company NTPC Vidyut Vyapar Nigam, sources said.
NTPC is in discussions with the power ministry regarding the same, sources said, adding that NTPC is of the view that PTC India is already on its feet and does not require its support.
The main objective of NTPC Vidyut Vyapar Nigam will be to purchase electricity generated from both conventional and non-conventional sources.
After a year of diminished venture investments, the VC community appears positive that a rebound in deal volumes would occur this year
The venture capital (VC) industry is optimistic about renewed investments this year, with focus shifting primarily to the green technology sector, a survey by global consultancy KPMG has said.
According to a poll of around 200 investors, venture capitalists and bankers, after a year of diminished venture investments, the VC community appears positive that a rebound in deal volumes would occur this year.
The survey found that 67% of respondents expect venture capital investment to increase in 2010, a drastic shift from only 23% predicting a rise in last year's survey. Only 7% see a decline in investment levels for 2010 compared to more than half (56%) predicting a year-to-year drop last year.
The survey indicated that the green-tech sector would be more attractive to investors this year.
About 77% of those surveyed say venture investment in green technology would increase this year as compared to 2009, including 15% who project investment to jump by more than 20%.
"There is no doubt that the green-tech sector remains an attractive investment area, but the difficult economic environment had investors operating in a cautious fashion in 2009," KPMG's venture capital practice co-leader Brian Hughes said.
"Our 2010 data shows that investors are more bullish in their investment projections and with all the federal funding and programs, the green-tech sector will undoubtedly benefit from the improving investment environment," Mr Hughes added.
Outside the US, venture capitalists expect green-tech investment to be focused primarily in Asia and then in Europe.
In addition to the expected increase in venture investment in 2010, respondents in the KPMG survey agreed that the government would play an increased role in green-tech activity.
As much as 65% of those surveyed anticipate an increase of federal funding for green-tech initiatives and 92% expect more public-private partnerships to initiate green projects.
KPMG conducted the survey in conjunction with AlwaysOn, a venture capital new media organisation.