With the merger of Burn Standard Refractory Company, all the employees would stand to benefit on par with their colleagues in SAIL
The annual steel production of state-run steel major SAIL is set to reach 7.50 crore tonnes in the next three years, company chairman CS Verma said. During the next three years, the total annual production of steel was set to reach 7.50 crore tonnes and by 2020 it would touch 18 crore tonnes, he said at a function at SAIL Refractory Company (SRCL), formed recently by merging the Burn Standard Refractory Company with SAIL.
Use of refractory material, an essential commodity used in the production of steel, would also increase, he said expressing hope that SRCL would be able to meet this demand.
According to Mr Verma, the global demand was 4.50 crore tonnes of refractory material and India consumes 25 lakh tonnes. SAIL alone needs 40,000 tonnes of refractory material, he said. SAIL imports about 50% of the refractory material required for its needs while the balance was produced by itself, he said. With the merger of Burn Standard Refractory Company, all the employees would stand to benefit on par with their colleagues in SAIL, he said.
Rajya Sabha MP Tiruchy Siva said following the merger of Burn Standard Refractory Company with SAIL, similar steps would be taken to merge sick PSUs.
Its wholly-owned subsidiary, India Yamaha Motor, has two plants with a total capacity to manufacture around 6.5 lakh two-wheelers annually
Japanese two-wheeler maker Yamaha said it plans to invest Rs800 crore on capacity expansion and new product development in the next two years, as it looks to sell 10 lakh two-wheelers by 2014.
The company, which is present in India through its wholly-owned subsidiary, India Yamaha Motor, has two plants with a total capacity to manufacture around 6.5 lakh two-wheelers annually.
“We plan to invest Rs800 crore in 2012-13 on production enhancement, network expansion and new product development,” India Yamaha Motor national business head Roy Kurian told reporters on the sidelines of the 11th Auto Expo.
Mr Kurian further, added that the company is looking to touch 10 lakh capacity by 2014 from the current 6-6.5 lakh and would like to sell the same in the domestic market. Commenting on the plans, he said the company was looking to strengthen various segments, including 150cc, as it targets 10 lakh sales in the next two years.
“We are looking at consolidating 150 cc segment, including FZ and SZ series and scooter segment. These initiatives will take us to the next level,” Mr Kurian said. The company is also looking at enhancing its presence in the country by 2014. “We are looking at 2,000 dealers for 1 million sales target by 2014,” Mr Kurian said adding that the 2000 figure would include sub-dealers, branches as well as Yamaha Bike Corners (YBCs).
The company has also started scouting for land in Tamil Nadu and Karnataka for setting up its third plant in the country.
The joint venture will develop, construct, operate and manage two hotels under the brands “Taj” and “Vivanta by Taj'” in Kunming Expo Garden in Southwest China
Indian Hotels Company said it has signed a memorandum of co-operation (MoC) to form a joint venture with China-based Yunnan Tourism for developing two hotels in the Yunnan province of South-West China.
As per the agreement, the joint venture will develop, construct, operate and manage two hotels under the brands “'Taj” and “Vivanta by Taj” in Kunming Expo Garden in Southwest China.
“The Indian Hotel Company’s presence in Kunming is critical for our selective global expansion plan because of its strategic location with access to key markets like Vietnam, Thailand, Cambodia, Myanmar, Bangladesh and Laos,” The Indian Hotels Company executive director Abhijit Mukerji said in a statement.
The MoC has been done with the support of Strategic European Investment Management (SEIM) which is the representative of IHCL in China, the company said.
“We are delighted to partner with The Indian Hotels Company to bring the Taj legendary service to the Yunnan province and China,” Yunnan Tourism Co general manager said.
“The entry of Taj and Vivanta by Taj brands in Kunming offers an exciting opportunity to establish the brands in the Chinese market,” Mr Mukerji said. While the new Taj hotel will have around 200 rooms, Taj “Vivanta by Taj” will have around 300 rooms.
Kunming Expo is a major communication and transport hub in China having good connectivity with the domestic Chinese tourism circuit.
Taj already has management contracts for “Taj Temple of Heaven Beijing”, in close proximity to the Temple of Heaven Park in Beijing. It will also manage a 300-key luxury resort in Hainan Island, the premium resort destination in China.
In the late afternoon, Indian Hotels was trading at around Rs61.50 per share on the Bombay Stock Exchange, 0.65% up from the previous close.