NTPC may appoint Deloitte for operational revamp

NTPC may soon appoint Deloitte as a consultant on revamping its operations and human resources development

“NTPC is likely to appoint Deloitte as a consultant for preparing its restructuring plans, which would include the company’s new mining plans, manpower management, etc,” a Power Ministry official said.

Deloitte is believed to have made a presentation to the company on taking up the job, which would also involve an analysis of the proposed restructuring of NTPC joint ventures—including NTPC-SAIL Power Company Ltd, NTPC Tamil Nadu Energy Company Ltd, Ratnagiri Gas & Power Ltd, NTPC-Alstom Power Services Ltd, NTPC-SCCL Global Ventures Ltd, International Coal Ventures Ltd and NTPC BHEL Power Projects Pvt Ltd—the official added.

NTPC plans to expand its existing power capacity of over 35,000MW to about 66,000 MW by 2017. The company planned to raise its capacity to 75,000MW by the end of the 12th Five-Year Plan (2012-17), but it had to curtail the target due to non-availability of gas and coal and land acquisition issues.

NTPC currently employs approximately 26,000 people. It will seek the consultant’s advice on streamlining its present workforce and how to make the best use of manpower. The consultant would also advice the company on its coal mining venture. NTPC has been awarded coal blocks and is expected to start excavation from those blocks in the near-term.

In the late afternoon, NTPC was trading at around Rs175.25 per share on the Bombay Stock Exchange, 0.68% down from the previous close.

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Mercedes Benz starts car leasing business in India

Mercedes launches Star Lease that will make available its complete range of cars for hire. Customers would have the option of leasing a Mercedes car on a monthly rental for a period ranging between 12 and 36 months

Mercedes launches Star Lease that will make available its complete range of cars for hire. Customers would have the option of leasing a Mercedes car on a monthly rental for a period ranging between 12 and 36 months

German Luxury car maker Mercedes Benz on Tuesday started car renting business in India with the launch of Star Lease that will make available its complete range of cars for hire.

According to the new scheme, customers would have the option of leasing a Mercedes car on a monthly rental for a period ranging between 12 and 36 months. Mercedes Benz India director sales and marketing, Debashis Mitra said, "Consumers shall now have an option to drive away a Mercedes without any initial investment and just pay affordable rentals which shall cover all insurance and maintenance costs for three years."

The customers who lease a car would also have an option to buy the car after three years, he added. The lease would be provided through Daimler Financial Services India, a subsidiary of Daimler Financial Services AG that was launched in July 2011, under the Mercedes Benz Financial branding. The company would offer the Star Lease from its dealerships in Delhi, Mumbai, Pune, Bangalore and Chennai.

Leasing is the grant of use of a vehicle where the customer pays for only what he uses. Under a leasing contract the customer can use a vehicle over a period of time for a fixed monthly lease rate.

"The Indian consumer's appetite for luxury vehicles has been voracious and we foresee this growing in the future," Daimler Financial Services India managing director Sidhartha Nair said.

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COMMENTS

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3 years ago

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Jindal Aluminium to set up Rs500cr foil plant

Jindal Aluminium hopes to clock total sales of Rs900 crore in this fiscal from Rs800 crore in the previous one

Jindal Aluminium will invest Rs500 crore to set up a factory for making foils and sheets near its existing extrusion facility in Bangalore. "The plant will come up near our plant in Bangalore. It will go on stream by March next year. We are investing Rs500 crore on the plant. This will make foils and sheets," Jindal Aluminium's executive director BD Garg said.

The company, promoted by SR Jindal, younger brother of OP Jindal, has already acquired 50 acres of land and has placed orders for plant and machinery. "In the very first year of operation, production will be around 12,000 tonnes per annum, which would be ramped up to 35,000 tonnes a year in three years," Garg said.

Buoyed by the growing demand from the packaging industry, India had to import around 65,000 tonnes aluminium foils last year, mostly from China, to cater to the domestic need. Garg said the company would stand to have a great chance to cash in on the burgeoning demand for aluminium foils in the country.

Jindal Aluminium, a leading player in the country's Rs3,500 crore aluminium extrusion space with over 20% market share hopes to clock total sales of Rs900 crore in this fiscal from Rs800 crore in the previous one. "In the next fiscal, this should go up to Rs1,300 crore with contribution of Rs1,000 crore from the existing aluminium extrusion business and the remaining from aluminium foils and sheets," Garg said.

The company hopes to sell more than 50,000 tonnes extrusion from 45,000 tonnes sold last year. The industry size is two lakh tonnes and has been growing at 8%-10% per annum.

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