The Indian Space Research Organisation (ISRO) is planning to launch a dedicated satellite for
scientific experiments pursued by the undergraduate and post-graduate students from various universities in India. Annoucing this project in Bangalore on Thursday, ISRO chairman G Madhavan Nair said that the launch of this satellite is expected sometimes next year on-board a polar satellite launch vehicle (PSLV) sometimes next year.
The launch vehicle will carry the auxiliary satellite with scientific experiments developed by the undergraduate and post-graduate students from various universities in India, Russia and other countries. Apart from the payload (auxiliary satellite), the launch vehicle will also carry a mini remote sensing satellite.
According to ISRO, this project is the brain-child of A P J Abdul Kalam, who at the same event in Bangalore termed this project as an 'youth satellite.'
Earlier, ISRO had made an announcement of opportunities to institutions and universities to send experiment proposals which can be part of the launch. "We are in the process of building the satellite, a part of which will be dedicated for the youths. We are planning to launch this from the Satish Dhawan Space Centre in Sriharikota off the Andhra Pradesh Coast, next year," said Nair, addressing the conference to celebrate the golden jubilee celebrations of the National Aerospace Laboratory.
According to an ISRO spokesperson, this will help the student community conduct experiments in remote sensing and observing outer space. The experiment will also help in galactic observation, atmospheric studies among many other experiments, he added.
Thursday, June 26, 2008
Monday, June 23, 2008
Toyota plans series of compact car launches
In a move that seems like making up for its delayed entry into the compact car segment, Toyota Kirloskar Motor (TKM), a joint venture between Japan's Toyota Motor and Pune-based Kirloskar Group, is planning to launch a series of models with engines varying between 1.1-1.3 litre over the next two to three years to address the 1-million unit compact car market in India.
Sources close to TKM said that at least four models fitted with 1.1 litre and 1.3 litre engines are in the works. Hatchbacks and sedans are expected to be rolled out with these two engines. The first car in this series, however, will be a petrol sedan with a 1.3-litre engine pitted against the like of Suzuki's Dzire, Ford Fiesta and Hyundai's Verna.
The hatchback TKM plans to sell in India would be pitted against the likes of Suzuki's Swift and Hyundai's Getz.
The new product launches are expected to coincide with the start of commercial production at the second plant that is being built adjacent to the current plant in Bidadi near Bangalore, which can roll out 63,000 vehicles a year. TKM had recently announced that it would be investing Rs 1,400 crore in the new plant which is expected to have an annual capacity of 100,000 vehicles. Production is expected to start in the new plant in 2010.
The company also plans to roll out the diesel Corolla, Toyota's popular premium sedan from this new plant.
TKM is also getting ready to launch the sports utility vehicle (SUV) Fortuner in the price range of Rs 16-20 lakh depending on whether it would take route of importing fully built units or bring completely knocked down units to be assembled in India. Experts, however said that the top-end model of Fortuner in India will not cost more than Rs 15-16 lakh. The launch date for this SUV is expected to be between June and September 2009.
Responding to a detailed e-mail from Business Standard on the company's products launch plans, a TKM spokesperson wrote, "I am sure you will appreciate and understand that our future product plans are confidential in nature and as such, we are unable to share details pertaining to them."
Fortuner is based on the international Innovative Multipurpose Vehicle (IMV) platform. The company's popular Innova is also built on the same platform. Fortuner is a popular model in South East Asian markets like Philippines, Indonesia and Thailand. This SUV is currently sold in three variants with engine sizes varying between 2.5 to 3.0 litre and also available in both four-wheel drive version and as a 4x2 version.
Sources close to TKM said that at least four models fitted with 1.1 litre and 1.3 litre engines are in the works. Hatchbacks and sedans are expected to be rolled out with these two engines. The first car in this series, however, will be a petrol sedan with a 1.3-litre engine pitted against the like of Suzuki's Dzire, Ford Fiesta and Hyundai's Verna.
The hatchback TKM plans to sell in India would be pitted against the likes of Suzuki's Swift and Hyundai's Getz.
The new product launches are expected to coincide with the start of commercial production at the second plant that is being built adjacent to the current plant in Bidadi near Bangalore, which can roll out 63,000 vehicles a year. TKM had recently announced that it would be investing Rs 1,400 crore in the new plant which is expected to have an annual capacity of 100,000 vehicles. Production is expected to start in the new plant in 2010.
The company also plans to roll out the diesel Corolla, Toyota's popular premium sedan from this new plant.
TKM is also getting ready to launch the sports utility vehicle (SUV) Fortuner in the price range of Rs 16-20 lakh depending on whether it would take route of importing fully built units or bring completely knocked down units to be assembled in India. Experts, however said that the top-end model of Fortuner in India will not cost more than Rs 15-16 lakh. The launch date for this SUV is expected to be between June and September 2009.
Responding to a detailed e-mail from Business Standard on the company's products launch plans, a TKM spokesperson wrote, "I am sure you will appreciate and understand that our future product plans are confidential in nature and as such, we are unable to share details pertaining to them."
Fortuner is based on the international Innovative Multipurpose Vehicle (IMV) platform. The company's popular Innova is also built on the same platform. Fortuner is a popular model in South East Asian markets like Philippines, Indonesia and Thailand. This SUV is currently sold in three variants with engine sizes varying between 2.5 to 3.0 litre and also available in both four-wheel drive version and as a 4x2 version.
Friday, June 20, 2008
MIT prototype solar dish (Low-cost system could revolutionize global energy production)
A team led by MIT students this week successfully tested a prototype of what may be the most cost-efficient solar power system in the world--one team members believe has the potential to revolutionize global energy production.
The system consists of a 12-foot-wide mirrored dish that team members have spent the last several weeks assembling. The dish, made from a lightweight frame of thin, inexpensive aluminum tubing and strips of mirror, concentrates sunlight by a factor of 1,000--creating heat so intense it could melt a bar of steel.
To demonstrate the system's power, Spencer Ahrens, who just received his master's in mechanical engineering from MIT, stood in a grassy field on the edge of the campus this week holding a long plank. Slowly, he eased it into position in front of the dish. Almost instantly there was a big puff of smoke, and flames erupted from the wood. Success!
Burning sticks is not what this dish is really for, of course. Attached to the end of a 12-foot-long aluminum tube rising from the center of the dish is a black-painted coil of tubing that has water running through it. When the dish is pointing directly at the sun, the water in the coil flashes immediately into steam.
Someday soon, Ahrens hopes, the company he and his teammates have founded, called RawSolar, will produce such dishes by the thousands. They could be set up in huge arrays to provide steam for industrial processing, or for heating or cooling buildings, as well as to hook up to steam turbines and generate electricity. Once in mass production, such arrays should pay for themselves within a couple of years with the energy they produce.
The system consists of a 12-foot-wide mirrored dish that team members have spent the last several weeks assembling. The dish, made from a lightweight frame of thin, inexpensive aluminum tubing and strips of mirror, concentrates sunlight by a factor of 1,000--creating heat so intense it could melt a bar of steel.
To demonstrate the system's power, Spencer Ahrens, who just received his master's in mechanical engineering from MIT, stood in a grassy field on the edge of the campus this week holding a long plank. Slowly, he eased it into position in front of the dish. Almost instantly there was a big puff of smoke, and flames erupted from the wood. Success!
Burning sticks is not what this dish is really for, of course. Attached to the end of a 12-foot-long aluminum tube rising from the center of the dish is a black-painted coil of tubing that has water running through it. When the dish is pointing directly at the sun, the water in the coil flashes immediately into steam.
Someday soon, Ahrens hopes, the company he and his teammates have founded, called RawSolar, will produce such dishes by the thousands. They could be set up in huge arrays to provide steam for industrial processing, or for heating or cooling buildings, as well as to hook up to steam turbines and generate electricity. Once in mass production, such arrays should pay for themselves within a couple of years with the energy they produce.
Monday, June 16, 2008
TN to help Tata Steel with land buy
The Tamil Nadu government has agreed to help Tata Steel procure nearly 10,000 acres of land for its Rs 2,500-crore titanium dioxide project in Tuticorin district, 540 km south-west of state capital Chennai.
This is the first time the state government has officially said it will get involved in the land acquisition process for Tata Steel's ambitious project, which has been on paper for nearly a year.
Tata Steel has been able to do little to see the project off the ground since signing the memorandum of understanding with the state government in June 2007 because it could not acquire the land on its own.
Senior government officials said though the state would not directly buy large tracts of land on behalf of the steel major, it would ensure that the acquisition process was smooth for Tata Steel to do so on its own.
"We have already instructed district collectors and other revenue officials to make sure that clear title deeds were made available for the company to approach legitimate land owners. We will also help Tata Steel by buying small bits of land to let them aggregate continuous land area of 10,000 acres (for mining)," said a senior state official.
Tata Steel had earlier indicated that it may look at alternative locations like Orissa and Andhra Pradesh to relocate the project owing to delays over land acquisition. Tata Steel officials, however, added that such a drastic move would be taken only after extensive negotiations with the Tamil Nadu government.
"We had committed ourselves to bringing this project to Tamil Nadu and will try to honour it as much as we can," a senior Tata Steel executive said.
The land acquisition process was also caught in political crossfire as powerful local interests in Tuticorin had objected to the project with some even claiming that Tata Steel was trying to buy agricultural land.
The state government had then dismissed these charges and said that less than 4 per cent of the land area where Tata Steel proposed to mine came under agriculture. The state continues to support this stance.
This is the first time the state government has officially said it will get involved in the land acquisition process for Tata Steel's ambitious project, which has been on paper for nearly a year.
Tata Steel has been able to do little to see the project off the ground since signing the memorandum of understanding with the state government in June 2007 because it could not acquire the land on its own.
Senior government officials said though the state would not directly buy large tracts of land on behalf of the steel major, it would ensure that the acquisition process was smooth for Tata Steel to do so on its own.
"We have already instructed district collectors and other revenue officials to make sure that clear title deeds were made available for the company to approach legitimate land owners. We will also help Tata Steel by buying small bits of land to let them aggregate continuous land area of 10,000 acres (for mining)," said a senior state official.
Tata Steel had earlier indicated that it may look at alternative locations like Orissa and Andhra Pradesh to relocate the project owing to delays over land acquisition. Tata Steel officials, however, added that such a drastic move would be taken only after extensive negotiations with the Tamil Nadu government.
"We had committed ourselves to bringing this project to Tamil Nadu and will try to honour it as much as we can," a senior Tata Steel executive said.
The land acquisition process was also caught in political crossfire as powerful local interests in Tuticorin had objected to the project with some even claiming that Tata Steel was trying to buy agricultural land.
The state government had then dismissed these charges and said that less than 4 per cent of the land area where Tata Steel proposed to mine came under agriculture. The state continues to support this stance.
Friday, June 13, 2008
NASA Telescope to pursue gamma rays
NASA on Wednesday launched a telescope to scout out elusive, super high-energy gamma rays lurking in the universe.
Glast — a NASA acronym standing for Gamma-ray Large Area Space Telescope — began its five- to 10-year earth-orbiting mission with a midday blastoff aboard a Delta rocket.
The $690 million telescope will pick up where NASA’s Compton Gamma Ray Observatory left off before its deliberate destruction in 2000, but in a bigger and better way. In addition to the U.S., participating countries include Italy, France, Germany, Sweden and Japan.
With superior technology and insight gained from Compton and other telescopes, Glast will be able to do in three hours, or two orbits of Earth — survey the entire sky — what Compton took 15 months to do. What’s more, Glast and its particle detectors are much more sensitive and precise, and should provide an unprecedented view into the high-energy universe from a 555-km-high orbit.
“In a sense what Glast is doing is giving us a chance to peek behind the curtain or look under the hood for how things are working, and it’s only by doing this sort of exploration that we’re able to learn these things. It’s a form of scientific enlightenment,” said NASA project scientist Steven Ritz.
Thursday, June 12, 2008
Super-sensitive and small: New MIT detector uses nanotubes to sense deadly gases
Using carbon nanotubes, MIT chemical engineers have built the most sensitive electronic detector yet for sensing deadly gases such as the nerve agent sarin.
The technology, which could also detect mustard gas, ammonia and VX nerve agents, has potential to be used as a low-cost, low-energy device that could be carried in a pocket or deployed inside a building to monitor hazardous chemicals.
"We think this could be applied to a variety of environmental and security applications," said Michael Strano, the Charles and Hilda Roddey Associate Professor of Chemical Engineering and senior author of a paper describing the work published this week in the online edition of Angewandte Chemie.
Strano's sensor has exhibited record sensitivity to molecules mimicking organophosphate nerve toxins such as sarin: It can detect minute quantities as low as 1 femtomole (1 billion molecules), roughly equivalent to a concentration of 25 parts per trillion. "There's nothing that even comes close," he said.
Sarin, which killed 12 people in a 1995 terrorist attack on the Tokyo subway, can kill at very low concentrations (parts per million) after 10 minutes, so highly sensitive detection is imperative to save lives. The new detector is far more sensitive than needed to detect lethal doses.
To build their super-sensitive detector, Strano and his team used an array of carbon nanotubes aligned across microelectrodes. Each tube consists of a single-layer lattice of carbon atoms, rolled into a long cylinder with a diameter about 1/50,000 of the width of a human hair, which acts as a molecular wire.
The nanotube sensors require very little power--about 0.0003 watts. One sensor could run essentially forever on a regular battery. "It's something that could sit in the corner of a room and you could just forget about it," Strano said.
The technology, which could also detect mustard gas, ammonia and VX nerve agents, has potential to be used as a low-cost, low-energy device that could be carried in a pocket or deployed inside a building to monitor hazardous chemicals.
"We think this could be applied to a variety of environmental and security applications," said Michael Strano, the Charles and Hilda Roddey Associate Professor of Chemical Engineering and senior author of a paper describing the work published this week in the online edition of Angewandte Chemie.
Strano's sensor has exhibited record sensitivity to molecules mimicking organophosphate nerve toxins such as sarin: It can detect minute quantities as low as 1 femtomole (1 billion molecules), roughly equivalent to a concentration of 25 parts per trillion. "There's nothing that even comes close," he said.
Sarin, which killed 12 people in a 1995 terrorist attack on the Tokyo subway, can kill at very low concentrations (parts per million) after 10 minutes, so highly sensitive detection is imperative to save lives. The new detector is far more sensitive than needed to detect lethal doses.
To build their super-sensitive detector, Strano and his team used an array of carbon nanotubes aligned across microelectrodes. Each tube consists of a single-layer lattice of carbon atoms, rolled into a long cylinder with a diameter about 1/50,000 of the width of a human hair, which acts as a molecular wire.
The nanotube sensors require very little power--about 0.0003 watts. One sensor could run essentially forever on a regular battery. "It's something that could sit in the corner of a room and you could just forget about it," Strano said.
Wednesday, June 11, 2008
Yunus tells MIT grads they can 'change the world'
2006 Nobel Peace Prize laureate Muhammad Yunus told graduating students at MIT's 142nd Commencement exercises on Friday that they "represent the future of the world," and urged them to spend at least part of their time in coming years creating a whole new kind of businesses to help make the world a better place.
Nature cooperated with MIT's Commencement, but only after threatening to put a serious damper on the ceremony: The opening processional was delayed a few minutes by rain that had been pouring down through the early morning, but the skies cleared just in time for the ceremonies to proceed and for 2,335 graduates to receive their degrees.
Citing his own in experiences in going against all conventional wisdom in the pioneering creation of Grameen Bank in his native Bangladesh--the forerunner of what is now a multibillion-dollar worldwide trend in microlending--Yunus said such businesses have a fundamentally different philosophy than conventional companies that see their prime obligation as the maximization of profit.
What's needed, Yunus said, is to "reformulate the concept of a businessman"--not to replace the present model, but to offer another alternative that people can choose to follow. Such new-style businesspeople, he said, would have as their goal not maximum profit but "achieving some predefined social objective."
Creating such alternative socially conscious businesses, he said, "will bring a big change in the world." And for Yunus, this is not just talk, but a history of real action: In addition to his now-famous bank, he has already created partnerships to start a variety of such socially conscious businesses. For example, he created Grameen Phone to bring cell-phone service to Bangladesh and other developing countries, where most homes have no electricity, plumbing or telephone service.
Yunus has also helped to start "social businesses" including one to make yogurt that has added nutrients to help the millions of malnourished children in Bangladesh, another to provide a low-cost health-insurance program, a company to provide safe drinking water "in a sustainable way to all the people who are faced with a water crisis," an eye-care hospital, a shoe company and one to produce insecticide-treated mosquito nets to combat malaria.
Nature cooperated with MIT's Commencement, but only after threatening to put a serious damper on the ceremony: The opening processional was delayed a few minutes by rain that had been pouring down through the early morning, but the skies cleared just in time for the ceremonies to proceed and for 2,335 graduates to receive their degrees.
Citing his own in experiences in going against all conventional wisdom in the pioneering creation of Grameen Bank in his native Bangladesh--the forerunner of what is now a multibillion-dollar worldwide trend in microlending--Yunus said such businesses have a fundamentally different philosophy than conventional companies that see their prime obligation as the maximization of profit.
What's needed, Yunus said, is to "reformulate the concept of a businessman"--not to replace the present model, but to offer another alternative that people can choose to follow. Such new-style businesspeople, he said, would have as their goal not maximum profit but "achieving some predefined social objective."
Creating such alternative socially conscious businesses, he said, "will bring a big change in the world." And for Yunus, this is not just talk, but a history of real action: In addition to his now-famous bank, he has already created partnerships to start a variety of such socially conscious businesses. For example, he created Grameen Phone to bring cell-phone service to Bangladesh and other developing countries, where most homes have no electricity, plumbing or telephone service.
Yunus has also helped to start "social businesses" including one to make yogurt that has added nutrients to help the millions of malnourished children in Bangladesh, another to provide a low-cost health-insurance program, a company to provide safe drinking water "in a sustainable way to all the people who are faced with a water crisis," an eye-care hospital, a shoe company and one to produce insecticide-treated mosquito nets to combat malaria.
Tata Motors doubles fund-raising plan
To raise $1billion abroad; Hikes borrowing limit to Rs 20,000 crore; To seek shareholder's nod. After the successful acquisition of English luxury brands Jaguar and Land Rover, Tata Motors, the country's largest automobile maker, has said that it plans to raise an additional $1 billion in the international market to fund its expansion plans, which include strategic alliances and acquisitions.
In a release issued to the Bombay Stock Exchange (BSE) on Monday, the company stated that it will seek shareholder approval to increase its borrowing limit to Rs 20,000 crore from Rs 12,000 crore announced in the last AGM. The additional capital does not include the firm's temporary loans obtained or to be obtained from its bankers in the ordinary co urse of business.
"The company has big plans for expanding its product range and presence in the domestic and global markets in commercial and passenger vehicle, including through strategic alliances and acquisition opportunities," said the release.
The shareholder approval has also been sought for raising $500-600 million (about Rs 2,600 crore), which would be beyond the purview of the approval sought for raising $1 billion by issuing securities in the international market depending on market conditions.
The company recently completed the acquisition of Jaguar and Land Rover from US auto major Ford Motor Company (FMC) for $2.3 billion (Rs 9,500 crore). The acquisition was the largest overseas takeover by a domestic company in the automobile space. The brands recorded a combined turnover of nearly $15 billion and sales of 286,000 units in calendar year 2007.
The great Indian oil trick: under-recoveries overstated 15%
The under-realisation on fuel sales reported by the country's oil companies is overstated by as much as 15 per cent, according to experts, though this does not mean that the oil companies are making profits on selling subsidised petrol, diesel, cooking gas and kerosene.
"A part of the under-recovery calculations is notional. It does not actually exist," said a Delhi-based analyst, who advises the country's oil companies.
OVERSTATED UNDER-REALISATION
# Oil companies say calculations based on pre-defined government formula
# Calculation assumes import cost of petrol, diesel, LPG and Kerosene
# Imports of petrol & diesel are negligible
# Govt pruned Rs 78,000 cr under-realisation claim of oil companies to Rs 70,000 cr last year
The optimum or "desired" selling price is calculated assuming that the fuel is imported and then processed, transported and marketed when in fact imports accounted for 3 per cent of petrol consumption, 6 per cent of diesel consumption and a quarter of cooking gas and kerosene consumption.
The oil marketing companies calculate the under-realisation of fuel sales by taking the difference between the market price of the fuel and the subsidised selling prices. The market price is benchmarked to the price of the fuel on the Singapore exchange to which expenses such as freight, insurance and customs duty are added.
Refinery margins and processing charges are then added to this to make up what is called the refinery gate price, which is the price at which the refinery sells the fuels to the oil marketers.
The refinery gate price is calculated only for the four subsidised fuels irrespective of whether they are imported or not.
The oil marketers then add transportation charges, marketing margins and dealers' commissions to the refinery gate price to arrive at the desired selling price of the fuel.
"A part of the under-recovery calculations is notional. It does not actually exist," said a Delhi-based analyst, who advises the country's oil companies.
OVERSTATED UNDER-REALISATION
# Oil companies say calculations based on pre-defined government formula
# Calculation assumes import cost of petrol, diesel, LPG and Kerosene
# Imports of petrol & diesel are negligible
# Govt pruned Rs 78,000 cr under-realisation claim of oil companies to Rs 70,000 cr last year
The optimum or "desired" selling price is calculated assuming that the fuel is imported and then processed, transported and marketed when in fact imports accounted for 3 per cent of petrol consumption, 6 per cent of diesel consumption and a quarter of cooking gas and kerosene consumption.
The oil marketing companies calculate the under-realisation of fuel sales by taking the difference between the market price of the fuel and the subsidised selling prices. The market price is benchmarked to the price of the fuel on the Singapore exchange to which expenses such as freight, insurance and customs duty are added.
Refinery margins and processing charges are then added to this to make up what is called the refinery gate price, which is the price at which the refinery sells the fuels to the oil marketers.
The refinery gate price is calculated only for the four subsidised fuels irrespective of whether they are imported or not.
The oil marketers then add transportation charges, marketing margins and dealers' commissions to the refinery gate price to arrive at the desired selling price of the fuel.
Sunday, June 8, 2008
RCom, MTN close to share swap deal
Reliance Communications (RCom) and South African telecom major MTN Group are close to finalising a reverse merger deal under which RCom will become a subsidiary of MTN Group and its chairman Anil Ambani will initially hold 28 to 30 per cent in the merged entity, whicg would make him the largest shareholder.
The deal would create a telecom colossus with 115 million subscribers in 25 countries.
Ambani, who holds 66 per cent in RCom, may then buy another 4 to 6 per cent either through market operations or from shareholders to reach a 34 per cent shareholding in MTN through an all-cash deal. The promoters will have to pay $1.8 billion to $2.5 billion to buy the residual stake.
MTN's promoters will hold the remaining 65 per cent stake in the merged entity.
The Ambanis do not want to exceed a 34 per cent holding in MTN because South African rules mandate that crossing the 35 per cent limit invites a "tender offer" (open offer) for 20 per cent of shares.
The deal would create a telecom colossus with 115 million subscribers in 25 countries.
Ambani, who holds 66 per cent in RCom, may then buy another 4 to 6 per cent either through market operations or from shareholders to reach a 34 per cent shareholding in MTN through an all-cash deal. The promoters will have to pay $1.8 billion to $2.5 billion to buy the residual stake.
MTN's promoters will hold the remaining 65 per cent stake in the merged entity.
The Ambanis do not want to exceed a 34 per cent holding in MTN because South African rules mandate that crossing the 35 per cent limit invites a "tender offer" (open offer) for 20 per cent of shares.
Saturday, June 7, 2008
RPL set to earn revenues this year
The Jamnagar refinery is likely to be completed in record 36 months.
Reliance Petroleum's new export-oriented 29 million tonnes refinery in Jamnagar, Gujarat will start generating revenues from this year.
Reliance Petroleum (RPL) Chairman Mukesh Ambani, in an address to its shareholders during the company's third annual general meeting (AGM) on Saturday said, "I am happy to announce that the refinery will start generating revenues from this year itself. The RPL team is set to create a world record by constructing the new refinery at Jamnagar in less than 36 months."
Tata explores market for JLR launch in India
Days after completing the acquisition of the luxury brands Jaguar and Land Rover (JLR), India's largest domestic automobile company Tata Motors is exploring the feasibility of launching the two marques in India.
The company will be conducting a study on the demand for the models of Jaguar and Land Rover, which are priced between Rs 20 lakh and Rs 70 lakh in the United Kingdom, company officials said today at a conference call for analysts.
Prices will double if the models are sold in India through direct imports as completely built-up (CBU) units since they will attract import duties of 114 per cent.
The company, however, did not specify the timeframe for the launch but said the numbers derived from the two brands in India may be low.
Analysts believe that India is a developing market for luxury automobiles with global luxury brands like Porsche, Mercedes, BMW and Audi already here. Sales of luxury car brands (priced above Rs 40 lakh) in the first five months of 2008 have already exceeded 2007's whole-year numbers.
The launch of JLR will certainly be a positive step for Tata Motors, which is increasing its market base internationally even as it explores markets like China and Russia, said analysts who were part of the conference call.
In the UK, Jaguar mainly sells four models including X-Type, XF, XJ Series, XK Series, in estate, saloon, open-top and coupe forms. Land Rover sells four models including the Defender, Discovery, Freelander and Range Rover.
Ford Credit has committed to finance the two brands in various markets across the world for 12 months. To supplement this, Tata Motors has signed up with financing companies overseas to supply credit once Ford Credit's term is over.
Tata Motors paid Ford $2.3 billion for JLR early this year. The company had raised $3 billion in the form of bridge loans from a clutch of banks.
The company intends to repay the loan through a Rs 7,200-crore rights issue later this year, the issue price of which will be decided at a later date.
The company will be conducting a study on the demand for the models of Jaguar and Land Rover, which are priced between Rs 20 lakh and Rs 70 lakh in the United Kingdom, company officials said today at a conference call for analysts.
Prices will double if the models are sold in India through direct imports as completely built-up (CBU) units since they will attract import duties of 114 per cent.
The company, however, did not specify the timeframe for the launch but said the numbers derived from the two brands in India may be low.
Analysts believe that India is a developing market for luxury automobiles with global luxury brands like Porsche, Mercedes, BMW and Audi already here. Sales of luxury car brands (priced above Rs 40 lakh) in the first five months of 2008 have already exceeded 2007's whole-year numbers.
The launch of JLR will certainly be a positive step for Tata Motors, which is increasing its market base internationally even as it explores markets like China and Russia, said analysts who were part of the conference call.
In the UK, Jaguar mainly sells four models including X-Type, XF, XJ Series, XK Series, in estate, saloon, open-top and coupe forms. Land Rover sells four models including the Defender, Discovery, Freelander and Range Rover.
Ford Credit has committed to finance the two brands in various markets across the world for 12 months. To supplement this, Tata Motors has signed up with financing companies overseas to supply credit once Ford Credit's term is over.
Tata Motors paid Ford $2.3 billion for JLR early this year. The company had raised $3 billion in the form of bridge loans from a clutch of banks.
The company intends to repay the loan through a Rs 7,200-crore rights issue later this year, the issue price of which will be decided at a later date.
Friday, June 6, 2008
Toyota brings fuel cell dream closer to reality
Toyota Motor Corp said today it had developed a new zero-emission fuel-cell vehicle that has a longer cruising distance than previous models and can operate in freezing temperatures.
Japanese companies have been working to create a viable zero-emission car running on fuel cells, which produce electricity through a chemical reaction between hydrogen and oxygen, leaving water as the only by-product.
Toyota's system "was enhanced to further improve cruising distance and low-temperature starts, which had presented obstacles to widespread fuel-cell vehicle use," the company said in a statement.
Toyota engineers managed to control the amount of water produced inside the fuel-cell system, which previously interfered with electrical generation at low temperatures.
Fuel efficiency was also improved, the automaker said. Toyota said it would continue to strive to improve the durability and reduce the cost of fuel-cell vehicles to bring about their widespread use.
Toyota President Katsuaki Watanabe has said previously that it will take years to make eco-friendly cars running on fuel cells commercially viable.
Besides the hefty price, motorists would also need an infrastructure of hyrogen filling stations if they are to take the cars on the road.
Toyota was a pioneer of petrol-electric hybrid cars which are attracting growing interest at a time of soaring oil prices and increasing concerns about global warming.
The International Energy Agency estimated today that nearly a billion electric or fuel-cell vehicles may need to be put on the road as part of an "energy technology revolution" to halve greenhouse gas emissions by 2050.
Japanese companies have been working to create a viable zero-emission car running on fuel cells, which produce electricity through a chemical reaction between hydrogen and oxygen, leaving water as the only by-product.
Toyota's system "was enhanced to further improve cruising distance and low-temperature starts, which had presented obstacles to widespread fuel-cell vehicle use," the company said in a statement.
Toyota engineers managed to control the amount of water produced inside the fuel-cell system, which previously interfered with electrical generation at low temperatures.
Fuel efficiency was also improved, the automaker said. Toyota said it would continue to strive to improve the durability and reduce the cost of fuel-cell vehicles to bring about their widespread use.
Toyota President Katsuaki Watanabe has said previously that it will take years to make eco-friendly cars running on fuel cells commercially viable.
Besides the hefty price, motorists would also need an infrastructure of hyrogen filling stations if they are to take the cars on the road.
Toyota was a pioneer of petrol-electric hybrid cars which are attracting growing interest at a time of soaring oil prices and increasing concerns about global warming.
The International Energy Agency estimated today that nearly a billion electric or fuel-cell vehicles may need to be put on the road as part of an "energy technology revolution" to halve greenhouse gas emissions by 2050.
Thursday, June 5, 2008
Building India`s highest dam in the heart of Arunachal
The 3,000-Mw Dibang Project will boast the highest dam in the country when it is constructed. Prime Minister Manmohan Singh laid the foundation stone for the project in January 2008, but with the land and livelihood of the 12,000-strong Idu Mishmi people of the region at stake, and with the alleged gaps in the approval process, the start of construction in this picturesque region could take its own time, finds Anand Sankar, who visited the valley and met the Idu Mishmi people.
Travelling through the districts of Lower Dibang Valley and Dibang Valley in Arunachal Pradesh is a breathtaking and surreal experience. From Roing — the only town at the base of the Lower Dibang Valley — the road winds its way uphill through dense tropical jungle, following steep ridges that crown rivers whose water is the most emerald green.
The two districts get their name from Dibang river, again a major tributary to the Brahmaputra. The hills in the region are called Mishmi Hills, derived from the name of the indigenous people — Idu Mishmi —who inhabit the area.
The project made news when Prime Minister Manmohan Singh laid the foundation stone of the project on January 31, 2008, during his visit to Arunachal Pradesh. The plaque was, however, set in Itanagar, 200 km away from the proposed site. Not much has happened since then. The proposed dam site at Muli, 45 km from Roing, and accessible only after a three-hour hike through jungle, is as silent as ever.
The peace is broken at the picturesque village of New Anaya, upstream on the banks of the river Ithun, a tributary of Dibang. The village, which has about 300 residents, of whom 109 are registered voters, will be submerged under about 80 metres of water when the dam is built. Says a miffed school teacher of the village, Sikku Mimi: "We will never allow such a large dam to be built on our land."
Travelling through the districts of Lower Dibang Valley and Dibang Valley in Arunachal Pradesh is a breathtaking and surreal experience. From Roing — the only town at the base of the Lower Dibang Valley — the road winds its way uphill through dense tropical jungle, following steep ridges that crown rivers whose water is the most emerald green.
The two districts get their name from Dibang river, again a major tributary to the Brahmaputra. The hills in the region are called Mishmi Hills, derived from the name of the indigenous people — Idu Mishmi —who inhabit the area.
The project made news when Prime Minister Manmohan Singh laid the foundation stone of the project on January 31, 2008, during his visit to Arunachal Pradesh. The plaque was, however, set in Itanagar, 200 km away from the proposed site. Not much has happened since then. The proposed dam site at Muli, 45 km from Roing, and accessible only after a three-hour hike through jungle, is as silent as ever.
The peace is broken at the picturesque village of New Anaya, upstream on the banks of the river Ithun, a tributary of Dibang. The village, which has about 300 residents, of whom 109 are registered voters, will be submerged under about 80 metres of water when the dam is built. Says a miffed school teacher of the village, Sikku Mimi: "We will never allow such a large dam to be built on our land."
Monday, June 2, 2008
Tata Motors completes Jaguar Land Rover deal
The biggest buy-out in the automobile space by an Indian company, Tata Motors, was completed today as it bought the ownership of luxury brands - Jaguar and Land Rover, its manufacturing plants, design centers and worldwide sales network from US car maker Ford Motors Company (FMC).
According to the agreement signed by Tata Motors on March 26, the company will pay cash to the tune of $2.3 billion for the two marquee's, whereas Ford will commit $600 million to pension funds of the two brands.
In a corresponding development, Tata Motors appointed David Smith as the Chief Executive Officer of Jaguar Land Rover (JLR), who was also the acting CEO for the two brands after the demise of Geoff Polites, the last CEO of JLR.
Ratan N Tata, chairman of Tata Sons and Tata Motors was present at the handing over ceremony at the head quarters of Jaguar Land Rover at Gaydon in the UK along with Don Leclair, the executive V-P and chief financial officer of FMC, and Lewis Booth, executive V-P of FMC, who has responsibility for Ford of Europe, Volvo and Jaguar Land Rover.
Tata said, "This is a momentous time for all of us at Tata Motors. Jaguar and Land Rover are two iconic British brands with worldwide growth prospects. We are looking forward to extending our full support to the Jaguar Land Rover team to realise their competitive potential. Jaguar Land Rover will retain their distinctive identities and continue to pursue their respective business plans as before. We recognise the significant improvement in the performance of the two brands and look forward to this trend continuing in the coming years. It is our intention to work closely to support the Jaguar Land Rover team in building the success and preeminence of the two brands."
JLR was acquired on a cash free, debt-free basis. The purchase consideration includes the ownership by Jaguar and Land Rover or perpetual royalty-free licences of all necessary intellectual property rights, manufacturing plants, two advanced design centers in the UK, and worldwide network of National Sales Companies.
Tata Motors also entered into long term agreements with FMC for supply of engines, stampings and other components to JLR. Other areas of transition support from Ford include IT, accounting and access to test facilities. The two companies will continue to cooperate in areas such as design and development through sharing of platforms and joint development of hybrid technologies and powertrain engineering.
The Ford Motor Credit Company, the credit providing arm of FMC, will continue to provide financing for Jaguar Land Rover dealers and customers for a transition period lasting for a period of 12 months. Tata Motors is in an advanced stage of negotiations with leading auto finance providers to support the Jaguar Land Rover business in the UK, Europe and the US, and is expected to select financial services partners shortly.
Tata Motors raised $3 billion (about Rs 12,000 crore) through bridge loans for 15 months from a clutch of banks, including JP Morgan, Citigroup, and State Bank of India.
Last week, company charted out plans to raised Rs 7,200 crore through three simultaneous but unlinked rights issue, the proceeds of which will be used to part-finance the JLR deal of Rs 9,228.75 crore. The precise terms of the issue (the ratio at which these securities will be offered, offer price and the conversion price) will be decided when the issue are ready to be made.
The rights issue will raise the equity capital of Tata Motors by 30-35 per cent by March 2009. The company also plans to raise $500-600 million through an issue of securities in the foreign markets. The company will share the date of listing at a later date.
The acquisition of JLR was done through the company's wholly owned subsidiary TML Holdings (UK).
According to the agreement signed by Tata Motors on March 26, the company will pay cash to the tune of $2.3 billion for the two marquee's, whereas Ford will commit $600 million to pension funds of the two brands.
In a corresponding development, Tata Motors appointed David Smith as the Chief Executive Officer of Jaguar Land Rover (JLR), who was also the acting CEO for the two brands after the demise of Geoff Polites, the last CEO of JLR.
Ratan N Tata, chairman of Tata Sons and Tata Motors was present at the handing over ceremony at the head quarters of Jaguar Land Rover at Gaydon in the UK along with Don Leclair, the executive V-P and chief financial officer of FMC, and Lewis Booth, executive V-P of FMC, who has responsibility for Ford of Europe, Volvo and Jaguar Land Rover.
Tata said, "This is a momentous time for all of us at Tata Motors. Jaguar and Land Rover are two iconic British brands with worldwide growth prospects. We are looking forward to extending our full support to the Jaguar Land Rover team to realise their competitive potential. Jaguar Land Rover will retain their distinctive identities and continue to pursue their respective business plans as before. We recognise the significant improvement in the performance of the two brands and look forward to this trend continuing in the coming years. It is our intention to work closely to support the Jaguar Land Rover team in building the success and preeminence of the two brands."
JLR was acquired on a cash free, debt-free basis. The purchase consideration includes the ownership by Jaguar and Land Rover or perpetual royalty-free licences of all necessary intellectual property rights, manufacturing plants, two advanced design centers in the UK, and worldwide network of National Sales Companies.
Tata Motors also entered into long term agreements with FMC for supply of engines, stampings and other components to JLR. Other areas of transition support from Ford include IT, accounting and access to test facilities. The two companies will continue to cooperate in areas such as design and development through sharing of platforms and joint development of hybrid technologies and powertrain engineering.
The Ford Motor Credit Company, the credit providing arm of FMC, will continue to provide financing for Jaguar Land Rover dealers and customers for a transition period lasting for a period of 12 months. Tata Motors is in an advanced stage of negotiations with leading auto finance providers to support the Jaguar Land Rover business in the UK, Europe and the US, and is expected to select financial services partners shortly.
Tata Motors raised $3 billion (about Rs 12,000 crore) through bridge loans for 15 months from a clutch of banks, including JP Morgan, Citigroup, and State Bank of India.
Last week, company charted out plans to raised Rs 7,200 crore through three simultaneous but unlinked rights issue, the proceeds of which will be used to part-finance the JLR deal of Rs 9,228.75 crore. The precise terms of the issue (the ratio at which these securities will be offered, offer price and the conversion price) will be decided when the issue are ready to be made.
The rights issue will raise the equity capital of Tata Motors by 30-35 per cent by March 2009. The company also plans to raise $500-600 million through an issue of securities in the foreign markets. The company will share the date of listing at a later date.
The acquisition of JLR was done through the company's wholly owned subsidiary TML Holdings (UK).
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