Tata Motors is “at a very high stage” in finalising a production site for its small car Nano at an overseas location, which could be either in Latin America, South East Asia or Africa
Tata Motors is "at a very high stage" in finalising a production site for its small car Nano at an overseas location, which could be either in Latin America, South East Asia or Africa.
A senior Tata group official said that the automobile major was exploring various options at different places and looking at uninterrupted supply chain for the components.
"The work is at a very high stage," Tata Industries managing director Kishor Chaukar told PTI when asked about a time-line to produce Nano in any of the overseas locations. Tata Industries is one of the investment arms of the Tata Group.
He said Tata Motors is looking at various regions such as Latin America, South East Asia and Africa. "They are looking at any of these possibilities."
While declining to specify details, Mr Chaukar said: "They (Tata Motors) are looking at the best options in terms of country locations or a geographic location."
Apart from considering land building facilities availability, Tata Motors will look at supply chain availability and at the accessibilities of markets, he added.
"...most importantly they will also be looking at the supply chain... because component usage in a single automobile runs into thousands and if you go in a large production, supply of these components of desired quality has to be highly reliable," Mr Chaukar said.
Nano, touted as the world's cheapest car, is now produced only at Sanand in Gujarat for the Indian market.
In 2009, Tata Motors unveiled the European version of Nano-Nano Europa-at the 79th Geneva Motor Show.
The company was expected to launch the car in Europe by 2011. The version in Europe is said to have airbags, central locking and would be Euro V emission norms compliant.
Although Tata Motors did not reveal any price tag for the Nano Europa, British media had predicted a price of over $6,000. The Indian edition of the car hit the roads in 2009 for about $2,500.
Tata Sons chairman Ratan Tata had said that the European version of the Nano would come with airbags and other high-end features, "but it will still be a low-cost car".
On Thursday, Tata Motors was trading 0.93% lower at Rs1,239.65 in the afternoon trade on the Bombay Stock Exchange.
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PowerGrid Corporation of India has signed an agreement for developing transmission network in Kenya
PowerGrid Corporation of India has signed an agreement for developing transmission network in Kenya.
"The PowerGrid Corp, CMD, SK Chaturvedi, signed a memorandum of understanding with the chief executive officer and managing director of Kenya Electric Transmission Company Ltd (KETRACO) in Nairobi, for the development of power transmission network in Kenya," the company said in a statement. The details of the agreement are yet to be worked out.
The company also signed an agreement for providing training to KETRACO engineers. Under the agreement, the engineers will be provided 10 weeks training by PowerGrid under the first phase.
While a two months hands-on training will be provided under the second phase, the third phase will involve "very specialised" training based on the evaluation reports of the first two phases.
These agreements will lead to substantial future consultancy business assignments for PowerGrid on a nomination basis, the statement said.
KETRACO is a 100% state-owned corporation with a mandate to design, construct, operate and maintain high voltage electricity transmission infrastructure.
On Thursday, PowerGrid Corp was trading 0.10% lower at Rs104.10 in the afternoon trade on the Bombay Stock Exchange.