India Developing, but still a long way to go

[Water Car Engineer]

India, Japan in Talks for $9-Billion Infrastructure Fund .

NEW DELHI – India has proposed to set up a revolving fund of $9 billion jointly with Japan to help finance the Delhi-Mumbai Industrial Corridor project, a government statement said Tuesday.

According to the proposal, Japan and India will contribute equally to the fund, Anand Sharma, minister for commerce and industry, said in the statement.

Mr. Sharma said he expects the industrial corridor project to attract investments of more than $100 billion.

India, Japan in Talks for $9-Billion Infrastructure Fund - WSJ.com

 

[Water Car Engineer]

India, Japan in Talks for $9-Billion Infrastructure Fund

NEW DELHI—India's trade minister Tuesday proposed setting up a revolving fund of $9 billion jointly with Japan to help finance an industrial link, a move that highlights a growing intent to fix the country's shabby infrastructure, which often hurts growth in Asia's third-largest economy.

Anand Sharma, currently in Japan to sign an economic co-operation pact, met Japanese Prime Minister Naoto Kan and informed him of the current status of the industrial and transport link between New Delhi and India's financial capital Mumbai.

The Delhi-Mumbai Industrial Corridor project, which started in 2007, is financed by the Indian government, Yen loans from Japan and investment from Japanese companies.

The project, modeled along the Tokyo-Osaka industrial corridor, is proposed to include a high-speed rail freight corridor, new power capacity of 4,000 megawatts, three new sea ports and six airports. India also plans to upgrade existing industrial units, build 12 new industrial clusters, 10 logistic parks and agricultural hubs alongside the industrial corridor.

The DMIC's first phase is scheduled to be ready by 2012 and is expected to boost the economy in a country where, economists widely believe, creaky infrastructure takes 2% off annual growth.

Mr. Sharma, who expects the project to attract more than $100 billion in investments, urged Japanese companies to invest in capital goods such as power equipment.

India is increasingly relying on private and overseas investment to develop its infrastructure as it aims to spend $1 trillion between 2012 and 2017 to lay new roads and build airports.

Investments in the country's roads, bridges and power plants are so far mostly funded out of local savings, which hover around 35% of gross domestic product.

However, India has struggled to attract long-term capital, which is key to infrastructure project financing, as bureaucratic red-tape, a shallow local bond market and faulty project designs have often thwarted overseas investors from committing money that won't promise returns in a decade.

Indian pension and insurance companies can't directly invest in infrastructure projects under current regulations, limiting crucial funding. In the current five-year plan to March 31, 2012, such funds are likely to contribute less than 7% to the total investment in projects.

Insurance and pension funds elsewhere are key buyers of long-term infrastructure bonds.

India, Japan in Talks for $9-Billion Infrastructure Fund - WSJ.com

 

[Water Car Engineer]

Anand Sharma Discusses DMIC with Japanese Prime Minister

Commerce and Industry Minister Shri Anand Sharma called on Japanese Prime Minister Mr Naoto Kan today in Tokyo. During his meeting, Prime Minister Kan expressed satisfaction on the conclusion of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with Japan, which is being signed tomorrow.

Prime Minister Kan underscored the significance of Indo Japanese technology collaboration for research and innovation. He called for a partnership in development of India’s infrastructure, specifically referring to Delhi Mumbai Industrial Corridor project. While responding, Mr Sharma highlighted the importance attached by India to of the Delhi Mumbai Industrial Corridor Project which has now decisively moved from the stage of master planning to project implementation. This project will see investments of over $100 billion and is being seen as a flagship initiative of Indo-Japan partnership. Minister Sharma proposed the establishment of a revolving fund of $ 9 billion with matching contribution from Indian and Japanese side to kickstart the implementation process. Japanese Prime Minister agreed to enhance the financial contribution of Japan and was positively receptive to the suggestion. Mr Sharma urged for greater Japanese investments in areas of core infrastructure and capital goods equipment including power generation where Japanese companies have a technological edge.

During the twenty minute long meeting, Minister Sharma said the India viewed a partnership with Japan as a ‘strategic engagement’ in the region and in the global context. This would be central to the vision of Asian integration articulated by Prime Minister Manmohan Singh.

Mr Sharma is in Tokyo on a two day visit, accompanied by a high level official delegation including the Commerce Secretary and a CII CEO’s delegation led by CII President Hari Bharatia.

Tomorrow, Minister Sharma will be signing the CEPA along with the Japanese Foreign Minister Maehara. Later in the day, he will be holding substantive bilateral meetings with the METI minister to review the progress of DMICDC project. He will be interacting with top Japanese CEOs to seek Japanese investments in India in areas of priority as identified at the Summit level interaction between the Prime Ministers.

Press Information Bureau English Releases

 

[Punjabbi Munda]

India's tallest tower receives go-ahead‎


Abu Dhabi-based Arabian Construction Company and India's Simplex Infrastructures have won the contract to construct India's tallest tower, the 117 storey World One in Mumbai.

When complete in 2015 the 442 m-high World One will be the second tallest residential building in the world.

Sorry but India's tallest tower is India tower,700 metres or 700+ height,it also will be the 2nd tallest building in the world.
India Tower - Wikipedia, the free encyclopedia
And guess what!it's underconstruction and will be completed by 2016,to be crowned as the 2nd tallest man made structure in the world

 

[ajay]

Sorry but India's tallest tower is India tower,700 metres or 700+ height,it also will be the 2nd tallest building in the world.
India Tower - Wikipedia, the free encyclopedia
And guess what!it's underconstruction and will be completed by 2016,to be crowned as the 2nd tallest man made structure in the world

India tower will be completed later than World One so for 2 yrs it will be the tallest building in India

 

[Water Car Engineer]

Japan, India to Sign Free Trade Pact

TOKYO—Japan's government said it will sign a free-trade agreement with India on Wednesday, bolstering ties with the fast-growing South Asian economy with which it shares a mutual concern about larger economic rival China.
The agreement will make Japan and India each other's biggest free-trade partners, and will do away with tariffs on 94% of trade between the two countries within 10 years, according to local media reports.

The deal comes days after official data showed Japan ceded its place as the world's second-largest economy to China in 2010. China's growing market for Japanese goods has galvanized corporate Japan. But many business leaders say the risk of diplomatic flare-ups with China highlights the need for more partnerships, like the one with India.

Closer ties with India could potentially open the way for Japanese investment in the development of rare-earth minerals, used in a wide range of products such as cellphones, analysts say.

In October, India's Prime Minister Manmohan Singh agreed with Japanese Prime Minister Naoto Kan in Tokyo that the two countries would explore cooperation in the development of rare-earth resources. Japan has sought alternative supplies since China cut shipments last year amid a territorial spat.

Takeshi Matsunaga, a Japanese foreign ministry spokesman, said the agreement won't likely refer directly to rare earths, but could make it easier for Japanese companies to invest in development of the key resources in India.

"Diversifying the sources of rare earths and other natural resources is a major effort" of the government, Mr. Matsunaga said.

Indian Trade Minister Anand Sharma, in Japan to sign the cooperation pact, on Tuesday proposed setting up a revolving $9 billion revolving fund with Japan to help finance an industrial corridor, a move that highlights India's growing efforts to fix its shabby infrastructure, which is blamed for curbing economic growth.

Mr. Sharma met Japanese Prime Minister Kan and updated him on the status of the industrial and transport link between New Delhi and India's financial capital, Mumbai. The project, which started in 2007, is financed by the Indian government, yen loans from Japan and investment from Japanese companies. Mr. Sharma, who expects the project to attract more than $100 billion in investments, encouraged Japanese companies to invest in capital goods such as power equipment.

Wednesday's trade agreement will span a large variety of industries, including agriculture, Mr. Matsunaga said. Yet, with rice an ever- delicate issue for Japan, the agreement won't affect pre-existing tariffs on that staple, Mr. Matsunaga said.

The pact also marks Japan's latest effort to catch up with South Korea, which has leveraged its trade agreements to increase the global competitiveness of its electronics, nuclear power and other sectors.

Mr. Kan has been pushing for Japan to join negotiations for a Trans Pacific Partnership that would include the U.S., despite fierce opposition from Japan's agriculture sector.

The deal with India will likely hearten a range of Japanese exporters, from electronics to auto makers. Suzuki Motor Corp. Chairman and CEO Osamu Suzuki said last year, "We will remain handicapped unless Japan reaches an FTA deal with India as soon as possible."

Japanese players in the big-ticket global market for civilian nuclear power projects, such as Hitachi Ltd., will also likely welcome the agreement. The pact should be seen as a positive sign for separate, continuing negotiations between Japan and India launched last year toward a civilian nuclear deal.

Japan, India to Sign Free Trade Pact - WSJ.com

 

[Water Car Engineer]

 

[Water Car Engineer]

 

[Water Car Engineer]

ACC-Simplex joint venture to build India's tallest tower

Dubai: A joint venture between Beirut-based Arabian Construction Co (ACC) and India's Simplex Infrastructures has won a contract to construct World One in Mumbai at an estimated Rs4.5-billion (Dh362.77 million) cost.

The 442-metre, 117-storey World One will be the tallest building in India and the world's second tallest residential complex on completion in 2015.

With 270-degree views, private pools, home theatre lounges and outdoor Jacuzzis, World One is set to be one of the India's most sought-after luxury life-style destinations.

The tower will also include an 18,000 square metre elevated park, and an observation lounge positioned 305 metres above the ground.

ACC, which has a strong base in the UAE, is partly owned by two Lebanese families. The tower was designed by Pei Cobb Freed and Partners (formerly I. M. Pei & Partners), a renowned architectural firm based in New York City.

Lodha Developers, the company behind the project, one of India's leading real estate developers, is responsible for some of the tallest structures in India. "ACC brings unique knowledge of high rise construction and global best practices and Simplex provides significant capability and resources in the Indian context. We believe that this JV [joint venture] is best suited to build independent India's most iconic building," said Abhisheck Lodha, Managing Director, Lodha Group.

This is ACC's third skyscraper that will rise above 100 floors. ACC was earlier awarded the Dh690-million 107-storey Princess Tower and Dh1.46-billion 124-storey Pentominium - both under construction at Dubai Marina. The company is also constructing a cluster of towers in Abu Dhabi's Central Market, including an 88-storey skyscraper that will be Abu Dhabi's tallest tower.

Among other towers ACC has constructed are Almas Tower and Rose Rotana Tower in Dubai and Sky Towers and Etihad Towers in Abu Dhabi. It is currently working on Jordan's tallest buildings.

Gassan Merehbi, Chairman of ACC, said: "This is our first venture in India, and we are very pleased to be working on such a prestigious project with India's leading developer. We are proud to contribute our resources and expertise in high-rise construction that we have developed in the Gulf."

Simplex Infra is one of India's premier construction and infrastructure companies boasting some of India's most acclaimed landmarks, including the Supreme Court building in New Delhi, Howrah bridge, and is currently working on the construction of India's first Ritz Carlton hotel. "This project is the first that our JV plans to build in the growing high-rise market in India," said Ani Ray, Simplex's Country Director for the UAE.

SahilOnline English News :: ACC-Simplex joint venture to build India's tallest tower

 

[Water Car Engineer]

Air India aims to become India's 1st green airline in one year

National air-carrier, Air India, aims to become the country's first green airline soon having initiated the process acouple of years ago, a senior official said.

As part of this process, the airline's chairman and managing director, Arvind Jadhav, today outlined the company's corporate environment policy which seeks to reduce carbon emission, noise and other forms of pollution as well as reduce consumption of fuel and other natural resources.

"We are committed to go green. As a part of this process, we plan to introduce a documentation management system and aim to go electronic with an e-filing system to cut down on our use of paper," Air India's quality management systems head,Harpreet A De Singh, told PTI Mumbai.

The policy provides sufficient resources to meet environmental objectives by continuous measuring, monitoring, reporting and improving upon environmental performance.

"We will implement our e-filing system in critical areas by June this year. In about a year's time, we will implement it in the entire company," she said, adding orders have already been placed for procuring hardware and software for the system.

The airline would turn paperless except in the areas where it is is mandatory by law, the Air India official said.

The air-carrier has already implemented the fuel gap analysis along with International Air Transport Association (IATA) two years ago. Besides, it has also introduced various measures to reduce fuel consumption and carbon emission.

In the last two years, the company claims to have achieved carbon dioxide emission savings to the tune of about 38 crore kilos through various green measures.

Air India aims to become India's 1st green airline in one year - India - DNA

 

[Water Car Engineer]

$42-bn UN pension fund warms to India

In what could give a big push to Indian stock markets, the United Nations and its affiliate agencies want to invest more from their $42-billion (Rs 1,89,000) corpus of pension funds in this country, especially in infrastructure and real estate. The members of the investment committee of the United N

ations Joint Staff Pension Fund (UNJSPF), an expert group that advises on where to invest pension funds, were in India last week and met domestic asset management firms, including those of Asahi Glass, Hero Honda group, Avantha group.
“We are looking more strategically at diversification of our investments, particularly in emerging markets and specifically with regard to more opportunities the fund could take advantage,” said Warren Sachs, the UN secretary general’s representative for investment of UNJSPF assets.

“The younger age profile (in India) than what China has gives us some confidence that the Indian economy is not just going to grow but probably end up growing as fast as, if not faster than, China. That makes it very interesting for us,” Sachs said.

$42-bn UN pension fund warms to India - Hindustan Times

 

[ajay]

$9 billion fund to kickstart Delhi-Mumbai corridor - Money - DNA

Dozens of newly constructed cities will be created alongside the 1,500-km corridor and will be primarily tailored towards Japanese conglomerates such as Mitsubishi, Hitachi etc. Indeed, the project envisages converting as many as 24 locations into hi-tech residential and industrial hubs.

India is also inking a ‘Comprehensive Economic Partnership Agreement’ with Japan on Wednesday. Sharma also said the DMIC will see an investment of $100 billion or more.

 

[Water Car Engineer]

Haryana's industry scene is a 'mini-Japan'

Chandigarh, Jan 22 (IANS) The runaway success of India's biggest car manufacturer Maruti-Suzuki has led other Japanese companies to invest over Rs.4,282 crore ($938 million) in Haryana over the years.

Haryana has emerged as a favoured destination for Japanese majors to invest, given the proximity of the state's national capital region (NCR) belt to New Delhi.

A 'mini-Japan' of sorts already exists on the state's industrial front. There are about 2,000 Japanese nationals working in units in Haryana. Some of them shuttle between Japan and India. Most of them live in Gurgaon and Delhi. And the state is even planning to set up a Japanese township.

The story scripted by Maruti-Suzuki in the automobile sector in over 25 years through its plant in Haryana's Gurgaon and nearby areas is not an isolated instance.

The big names that have lined up over the years to invest in Haryana include automobile giant Suzuki, Honda, Canon, Yakult, Denso, Mitsubishi, Toyo, Daikin, Yokohama, Showa, Nippon, Kansai Paints, Asahi and Stanley.

'In fact, impressed by the success of their venture in Gurgaon, Osamu Suzuki of Suzuki Motor Company had committed that every penny that Suzuki would invest in India would be in Haryana. True to his word all Suzuki investments have been in Haryana only,' Chief Minister Bhupinder Singh Hooda, who led a trade delegation to Japan in 2005, recounted.

Besides the massive manufacturing plant in Gurgaon, Maruti-Suzuki has come up with another manufacturing plant at Manesar, 50 km from Delhi.

Hooda said Haryana has a considerable presence of Japanese MNCs.

'Haryana has always been a preferred investment destination for them in India. The state has so far received an investment of Rs.4,282 crore (23 billion Yen) from Japanese MNCs,' Hooda told IANS.

Japanese investment constitutes more than 33 percent of the total Foreign Direct Investment (FDI) received in the state so far.

Senior officials of the Haryana State Industrial and Infrastructure Corporation (HSIIDC) say the Japanese investment has come through 192 collaborations, both technical (97) and financial (95).

Hooda said HSIIDC has signed a memorandum of understanding (MoU) with a consortium of Japanese companies, comprising Toshiba, Tokyo Gas and NEC, for building 'Smart Communities' or 'Eco-Cities' along the Delhi-Mumbai Industrial Corridor (DMIC) region - the country's showpiece for futuristic developmental model.

'Opportunities exist for the Japanese investors in development of infrastructure under the initiatives of DMIC, Global Economic Corridor along the KMP (Kundli-Manesar-Palwal) Expressways and other initiatives by the various departments in social sectors and for setting up of industrial units,' the chief minister said.

Touted as one of the most industrialised states in the country, Haryana has attracted an investment of Rs.53,000 crore ($12 bn) in recent years. An investment of another Rs.100,000 crore ($24 bn) is in the pipeline.

Having attracted investment running into millions of dollars from Japanese industry, the Haryana government has announced that it would set up a Japanese township in the state. The Japanese township would be set up near Madina village in Rohtak district, 60 km from New Delhi, along National Highway No. 10.

The assurance to this effect was given by Hooda to Canon India Pvt. Ltd. president and CEO Kensaku Konishi to mark the achievement of the company's Rs.10 billion annual turnover in India.

Canon's India headquarters is situated in Gurgaon in Haryana, adjoining national capital New Delhi.

Haryana's industry scene is a 'mini-Japan'

 

[Water Car Engineer]

DMIC-Delhi Mumbai Industrial Corridor Project

The Delhi-Mumbai Industrial Corridor Project is a State-Sponsored Industrial Development Project of the Government of India. It is an ambitious project aimed at developing an Industrial Zone spanning across six states in India. The project will see major expansion of Infrastructure and Industry – including industrial clusters and rail, road, port, air connectivity – in the states along the route of the Corridor.The ambitious Delhi Mumbai Industrial Corridor (DMIC) has received major boost with India and Japan inking an agreement to set up a project development fund.The initial size of the Fund will be 1,000 crore (US$217 million). Both the Japanese and Indian governments contribute equally.
The corridor would include six mega investment regions of 200 square kilometers each and will run through seven states Delhi, Western Uttar Pradesh, Southern Haryana, Eastern Rajasthan, Eastern Gujarat, Western Maharashtra and Madhya Pradesh - Indore.
Conceived as a global manufacturing and trading hub, the project is expected to double employment potential, triple industrial output and quadruple exports from the region in five years. The total employment to be generated from the project is 3 million, the bulk of which will be in the manufacturing/processing sectors.
The ambitious project will be funded through private-public partnership and foreign investment. Japan will be a major investor for this project. The corridor will span 1483 km.
It will include a 4000 MW power plant, three seaports and six airports in addition to connectivity with the existing ports. The industrial corridor project will be implemented by the Delhi-Mumbai Industrial Corridor Development Corporation, an autonomous body composed of government and the private sector.
It will be implemented through special purpose vehicles [SPVs]. The project is expected to deliver a 2-3-4-5 benefit: to double employment (2), triple industrial output (3) and quadruple exports (4) from the region in five years (5). It will built along a dedicated rail freight corridor, and once commissioned, will reduce the Delhi-Mumbai transit time from 60 to 36 hours.
The corridor, spread across 2,700 km with an additional 5,000 km of feeder lines connecting Mumbai to West Bengal.

Japan will provide 73%(!!!) of the total $90 billion!!!

 

[jayron]

Thanks for the regular updates Liquid!