TN signs MoU for ship building yard
The Tamil Nadu government today signed a memorandum of understanding (MoU) with Korean company Good Erith Maritime for constructing a ship building yard at Cuddalore at a cost of Rs 1,000 crore.
Chief Minister M Karunanidhi signed the agreement with the company chairman. The work would be completed in three years.
The ship building yard would provide [...]
India tops Toyota’s list for low-cost car project site
Toyota Motor Corp will finalise a decision in April on where to build its ultra-low-cost car currently under development, with India topping the list of candidates, a source familiar with the matter said on Tuesday.
Related Stories Auto majors gear up with technology for bio-diesel vehicles Rahul Bajaj’s sons go own ways
Think long term on auto [...]
Tata BlueScope Steel’s launches facility in Chennai Business
Tata BlueScope Steel Limited, a Rs 12 billion equal joint venture between Tata Steel and BlueScope Steel Limited, inaugurated its third LYSAGHT Building Components and Systems manufacturing facility at Sriperumbudur, Chennai. The plant will manufacture light steel structures and roof and wall cladding solutions under the brand name LYSAGHT. With the addition of the third [...]
Samsung India to invest US$100 mln in Chennai facility
Samsung India Electronics Pvt Ltd said it had earmarked an investment of US$100 million over the next four years for its upcoming manufacturing facility at Sriperumbudur near Chennai.
The Chennai complex, which is Samsung India’s second in the country, would manufacture colour televisions and monitors, the company said in a release.
The facility for colour televisions and [...]
‘Australia trade relationship with India growing rapidly’
Australia’s trade relationship with India was growing at a rapid pace, top official of a leading finance advisory firm in that country said today Christopher Reid of Bell Potter Securities Ltd, Australia said the 20-member delegation from his country, currently on a 12-day trip to India, was seeking investment opportunities in India.
Bell Potter Securities is [...]
Chennai Girl, Indra K. Nooyi elected PepsiCo chairman
The Chennai girl hit headlines on Monday yet again when PepsiCo’s board of directors announced that it has elected Indra K Nooyi, 51, chairman of the board, effective May 2 when current executive chairman Steven S Reinemund, 58, retires.
Ms Nooyi is currently chief executive officer of the more than $32-billion global convenient food and beverage [...]
The Dubai-based leading gold jewellery, Joy Alukkas Group is establishing the world’s largest gold & diamond jewellery store in Chennai’s Usman Road
The Dubai-based leading gold jewellery retail chain major, Joy Alukkas Group is establishing the world’s largest gold & diamond jewellery store in Chennai’s Usman Road, known as the gold hub of the city.
It has picked up 80,000 sq ft of retail space in Prashanth Gold Tower, being jointly promoted by actor Thiagarajan and property developer, [...]
Sony Ericsson Goes to India
Sony mobiles from Chennai
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Sony Ericsson president Miles Flint announcing plans of his company
at a press conference today. Also seen is Union Minister Dayanidhi Maran.
Sony Ericsson would produce mobile handsets by outsourcing manufacturing to its global partners ? Flextronics and Foxconn, which have set up their facilities in Sriperumbudur, a city suburb.
This meant the company would [...]
A giant Indian corporation Tata Steel and Brazil’s CSN has won the battle to take over the Anglo-Dutch steelmaker Corus.
Indian corporate giant Tata Steel and Brazil’s CSN on Tuesday entered the auction ring for the prized trophy — Anglo Dutch steelmaker Corus group — amid reports the bid could go as high as £11 billion. The nine-round auction called by the UK Takeover Panel to decide the winner between the two suitors began at [...]
New IT park in city
Pacifica Companies, the US-based $2 billion group with interest in real estate and property development, would set up its first IT project in India at the Chennai’s IT corridor on the Old Mahabalipuram Road (OMR).
       Spread over 7.29 acres at Navalur on the mainstream IT corridor, Pacific Tech Park would have a built up area [...]
