NTPC-BHEL joint venture to begin operations next fiscal

The joint venture company will supply equipment for the 100-MW Namrup Power Station in Assam and 726-MW combined cycle power plant Palatana of ONGC Tripura Power Corporation

NTPC-BHEL Power Projects Pvt Ltd (NBPPL), a 50:50 joint venture of state-owned NTPC and BHEL for manufacturing power equipment, will start operations next fiscal, a senior company official has said.

“The infrastructure for NTPC-BHEL joint venture company would be ready by March 2012... and it would start production next year (financial year),” NTPC chairman-cum-managing director, Arup Roy Choudhury, who is also the chairman of NBPPL, told reporters on the sidelines of National Energy Conservation Day.

The company already has orders in hand, which it received from NTPC and BHEL at the time NBPPL was incorporated in April 2008. It will start manufacturing plant equipment such as transformers, switchgears, meters and automation systems from its facility in Andhra Pradesh.

NBPPL will supply equipment for the 100-MW Namrup Power Station in Assam and 726-MW combined cycle power plant Palatana of ONGC Tripura Power Corporation.

It would also take up execution of 500-MW Singrauli Thermal Power Plant and 600-MW Thermal Power Plant at Rayalseema of Andhra Pradesh Power Generation Corporation Ltd (APGENCO).

On whether the joint venture company is scouting for a technological partner, Mr Choudhury said: “Right now the focus is on starting operations... later we will see whether we need any kind of tie up with a foreign company.”

The joint venture was formed to carry out engineering, procurement and construction (EPC) contract for power plants and infrastructure projects as well as manufacture and supply of equipment. The joint venture firm falls under the administrative control of the Ministry of Heavy Industries and Public Industries.
In the late afternoon, NTPC was trading at around Rs166 per share on the Bombay Stock Exchange, 1.87% up from the previous close, while BHEL was trading at around Rs251 per share, 2.03% down from the previous close.

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Tech Mahindra to focus on West Asia, Africa operations

Tech Mahindra will be rolling out a wider range of services for the MEA region's telco providers

Tech Mahindra, the IT arm of the Mahindra & Mahindra Group, is looking to expand its reach in the West Asia and Africa (MEA) region by tapping into newer markets and industry verticals, as well as forge new strategic partnerships with key businesses, to drive revenues.

Toward this objective, the systems integrator and business transformation consulting organisation has said it will reinforce its leadership and focus across operations in the region. In line with this move, Tech Mahindra recently appointed Girish Bhat as the new vice-president of sales and operations for MEA region. He is expected to drive business and synergies for the company.

The increasing popularity of business process outsourcing (BPO) and security solutions has made these areas new focal points for growth across the MEA region.

Tech Mahindra announced that it will be rolling out a wider range of services for the MEA region's telco providers, adding new offerings like value-added services (VAS), BPO, e-security, infrastructure management and network services.

"As the whole MEA region moves toward recovering from the impact left by the recent economic downturn, local telco providers have demonstrated a key shift in their IT spending practices, revealing a concentration on acquiring turnkey outsourcing of applications across the business support services (BSS)/operations support services (OSS) segments," said Bhat.

Bhat has more than 22 years of industry experience that spans diverse geographies. Prior to his new position, he served as the head of the Africa region at Tech Mahindra, where his leadership skills and strong business acumen were instrumental in strengthening the company's business in the continent.

In the late afternoon, Tech Mahindra was trading at around Rs575 per share on the Bombay Stock Exchange, 3.65% up from the previous close.

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MetLife unveils insurance plan for child education

The new insurance plan, named Met Smart Child, would be the second Child Savings Plan in MetLife’s portfolio after Met Bhavishya

MetLife India has launched a new unit-linked plan for the coverage of child’s higher education, even in the absence of parents.

The new insurance plan, named Met Smart Child, would be the second Child Savings Plan in MetLife’s portfolio after Met Bhavishya.

In the new plan, the fund would remain locked in for the benefit of the child till the child turns 18 and offers a differentiated death benefit, the company said in a statement.

The plan is available in three terms of 10, 15 and 20 years with a minimum premium of Rs18,000. The amount cover is equal to 10 times of the chosen premium and remains constant throughout the term of the Policy. The plan comes with 6 unit linked funds for customers with varying risk appetite to choose from.

The plan also offers systematic transfer option. Policies with 15 and 20 year term have a loyalty additions benefit of 2% and 3% respectively. These loyalty additions will be paid even on demise of the parent.

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