Punj Lloyd bags Rs113 crore project from ONGC

Punj Lloyd has been awarded a contract for construction of Naptha Feed Pipeline from Hazira to Dahej including associated terminal works by ONGC.

Engineering and construction firm Punj Lloyd said it had bagged a project worth Rs113 crore from Oil and Natural Gas Corporation (ONGC) for construction of a pipeline in Gujarat.

"Punj Lloyd has been awarded a contract for construction of Naptha Feed Pipeline from Hazira to Dahej including associated terminal works by ONGC," the company said in a filing to the Bombay Stock Exchange. The project is scheduled to be completed within 14 months, it added.

In the late afternoon, Punj Lloyd was trading at around Rs40.30 per share on the Bombay Stock Exchange, 5.91% up from the previous close.

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Toyota Kirloskar to export Etios to South Africa

“We are looking at exporting 20,000 units of the Etios series annually," Hiroshi Nakagawa, managing director of TKM said

Toyota Kirloskar Motor (TKM) said that it would start exporting "Etios" series sedan and hatchback to South Africa in March 2012.

"We are looking at exporting 20,000 units of the Etios series annually," Hiroshi Nakagawa, managing director of TKM, a joint venture between Toyota Motor Corporation and the Kirloskar Group, said at a function.

The models for export will be based on the Etios platform currently sold in India, but will be developed and produced to fit the lifestyles, consumer preferences, climate in South Africa. Etios will mark Toyota's first vehicle exports from India, the Japanese company had said earlier.

Nakagawa said the slowdown in growth, inflationary pressures and high interest rates have not hurt Toyota’s sales in India. "Our business here in India has not been impacted and our market share doubled to 6% this year, driven by robust demand for our Etios and Liva models," he said. According to him, TKM sold 3,943 units of Etios and 4,328 units of Liva in November. Nakagawa said localisation of Etios is at 70% and may go up to 90% once the company’s new plant and a transmission facility in Bangalore come up next year.

TKM is gearing up to introduce its Lexus range of luxury sedans and sports utility vehicles in the Indian market. "We will start rolling out our Lexus brand here in 2013. Each of the models is carefully being studied. A decision on which model to be launched first is yet to be concluded," Nakagawa said.

To match the growth of India's auto market, TKM's annual production capacity is scheduled to increase from 160,000 vehicles to 310,000 vehicles in 2013.

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Force Motors to launch hybrid version of 'Traveller'

Force Motors is setting up a new facility at Pithampur for this MPV with a capacity of 24,000 units per annum, to be attained in two equal phases.

Force Motors said it will launch a hybrid variant of its commercial vehicle 'Traveller' by the end of 2012 after unveiling to the public at the upcoming Auto Expo next month. The company will also launch a nine-seater multi-purpose vehicle, being developed under a license from German auto giant Daimler, by 2013 with price ranging around of Rs 12 lakh-15 lakh.

"We are showcasing a hybrid concept of the Traveller at the Delhi Auto Expo in January. It will be a parallel hybrid that utilises solar energy as well as has regenerative exhaust systems," Force Motors managing director Prasan Firodia said.

The company is developing the technology in association with a firm from the UK, he added. "We will commercially launch the vehicle within a year from now. This will be manufactured at our Pithampur plant in Madhya Pradesh," Firodia said. Beside, the company will also showcase a CNG version of the Traveller during the auto show at the National Capital from January 5-11.

Talking about its association with Daimler, Firodia said: "We have tied up with the German firm to produce a nine-seater van under a licence agreement. We will launch the vehicle in Indian market in 2013."

In July this year, the domestic firm had tied up with Daimler for comprehensive supply of product technology for the proposed multi-purpose vehicle (MPV). Asked about the price of the new vehicle, he said: "This will be a completely new category. Although we have decided yet, it will be in the range of Rs 12 lakh-Rs 15 lakh."

Force Motors currently uses a 2.2 litre common rail engine, the OM 611, in Traveller range of vehicles. Variants of this engine will be adapted for installation in the MPV, the company had earlier said.

The company is setting up a new facility at Pithampur for this MPV with a capacity of 24,000 units per annum, to be attained in two equal phases.

Elaborating on the agreement, Firodia said: "We have bought a complete vehicle under licence. Though we cannot export it to Europe, but we can still sell it in neighbouring nations like Sri Lanka, Nepal and Bangladesh." Force Motors will, however, be supplying parts of the MPV such as sheet metals to Europe, he added.

In the late afternoon, Force Motors was trading at around Rs425 per share on the Bombay Stock Exchange, 1.72% up from the previous close.

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