After Malar, Fortis eyes Chennai’s Lifeline
The Ranbaxy group-promoted Fortis Healthcare appears to be in a tearing hurry to increase its footprint in the south. Fresh from acquiring the 180-bed Malar Hospital in Chennai, Fortis has now set its sight on the 450-bed Lifeline Hospital chain in Chennai. The Delhi-based healthcare major is believed to have made an offer to acquire [...]
Satyam to invest Rs 800cr in Tamil Nadu
Satyam Computer Services is extending its presence in Tamil Nadu by committing an investment of Rs 800 crore to expand operations in Chennai and open a software development centre in Madurai.
The Madurai centre, located on 50 acre of land on Theni Road, will start operations with about 3,500 people on its rolls. The land has [...]
TN okays Chennai Metro
Chennai is expected to join the elite club of Indian cities like Kolkata and Delhi, which have a thriving metro rail system. The Tamil Nadu government on Wednesday announced that it would implement the Metro Rail project at an estimated cost of Rs 9,757 crore. It is expected to find a lasting solution to the [...]
Chennai airport out of private boundaries
Private companies’ ambition to modernise the Chennai airport on the lines of similar projects in Delhi and Mumbai has fallen flat following a political veto by the Tamil Nadu government which has forced the Centre to shift its preference to the old state monopoly, the Airports Authority of India (AAI).
The modernisation project, expected to be [...]
eBay, PayPal open development facility in Chennai
eBay Inc. and PayPal, an online payment company, have jointly launched a new global development centre in Chennai. The facility currently houses a development staff of approximately 1,000 people and the companies plan to hire hundreds of additional technical positions over the next two years.
“We’re thrilled that one of the world’s most innovative and successful [...]
Pyramid Saimira buys theatre chain in US
Theatre chain Pyramid Saimira Theatre (PSTL) has become the first Indian theatre chain to enter the US market. PSTL has acquired Texas-based FunAsia for an undisclosed sum to expand its business in the North American market.
The acquisition was made through PSTL’s US subsidiary Pyramid Saimira Entertainment America Inc. London-based Elara Capital Plc was the advisor [...]
HCL to set up 5 tech centres at Rs 1,000 cr each
The country’s fourth largest software exporter HCL Technologies said it will set up five technology hubs across the country which will entail an investment of Rs 1,000 crore each.
Through the new initiative, the company would generate employment for nearly one lakh people in the next five to seven years.
The proposed centres are expected to come [...]
Hinduja Group’s set with health plan, to enter TN
This Diwali, it will be raining projects from the diversified conglomerate Hinduja Group. The group plans to launch a bouquet of projects in healthcare, real estate and insurance sectors, its focus areas, between November 9 and 15 this year.
Group chairman Ashok Hinduja said they had mega plans for the healthcare sector and more specifically, the [...]
India and Germany sign several pacts
Union Minister for Science and Technology Kapil Sibal and German Minister for Education and Research Annette Schavan on Tuesday signed an agreement to set up an Indo-German S&T Centre that would promote public-private partnership in scientific and industrial research. The two sides committed to spend 10 million euros each over the next five years on [...]
Ashok Leyland in $500 mn tie-up with Nissan for 3 JVs
By sewing up a binding master co-operation agreement with Nissan Motor, Hinduja Group flagship Ashok Leyland has formalised its entry into the light commercial vehicle (LCV) segment. The partnership will entail an investment of $500 million, for the formation of three joint venture companies.
The alliance will lead to the birth of three companies. A vehicle [...]
