A joint venture between the Infrastructure Architecture Lab of Massachusetts Institute of Technology, and the Boston-based Thompson Design Group has entered into a contract with the Inland Waterways Authority of India, a government body responsible for the development and regulation of inland waterways for shipping and navigation.
The U.S.-based consultants will identify suitable locations for the construction of 18 ferry terminals in six cities of India: Allahabad, Varanasi, Patna, Munger, Kolkata and Haldia, and prepare detailed project reports and tender documents for these 18 terminals.
The development of waterways is part of the government’s plan to enable transportation of cargo through inland waterways so that road and rail networks are not over burdened. There is also the added benefit that this plan will be cost effective and environment friendly.
“The consultants will take into account commercial and passenger characteristics of each city with a goal of integrating transportation networks and facilities to each city,” the office of the Inland Waterways Authority of India, said.
January 4, 2017 No Comments
Swiss financial services company, Credit Suisse recently spent time in India to ascertain the status of mineral resources and commodities. “India looks to be firing at last,” was one of the headings in the bank’s report. The investigators had meetings with government agencies and companies in Delhi, Kolkata and Mumbai, focusing on demand for bulk companies such as coal and iron ore,as also fertilizer and aluminum.
The bank remarked that the best opportunity for miners looking for market opportunities in India, was copper since India had limited supplies of the mineral. It also warned against selling iron ore and coal to India since with problems of bulk commodity distribution being overcome, India was self sufficient in these minerals, reports Forbes.
“We came away convinced that India really is on the cusp of a major growth phase,” the bank said. “Companies pointed out the positives they see from government policies; an anti-corruption focus, a level playing field without favoritism, clear high level policies, and government ministries and State-owned companies driving to implement the policies, and overcoming many problems of the past.”
September 27, 2016 No Comments
Kolkata-based Emami Limited, a personal care and healthcare company, has acquired a 67% stake in Fravin Limited, an Australian organic cosmetics firm for an estimated $3.1 million. (Aus $4million plus)
Fravin’s founder, Peter Francis, said “Emami’s plans are to build a $77 million (AUS $100 million) manufacturing business out of South Australia over the next decade through our company. It’s a strategic move by the Indian company, which has more than 260 products in its portfolio, to enter the premium organic care markets in India and overseas.”
Established in 1974 by two childhood friends R.S. Agarwal and R.S. Goenka who quit their accountant jobs to start the company, the now diversified “fairness” product manufacturer Emami Group operates in more than 63 countries. Cosmetic products form one part of its business, which also includes making ball pen tips, edible oil, infrastructure and development, cement, biodiesel, and hospitals.
Emami’s investment deal will benefit Fravin – the Australian company will be able to expand its manufacturing capacity and access new export markets. Emami will benefit from the ‘green chemistry’ of the Australian firm, reports Organic Monitor.
June 25, 2015 No Comments
Global confectionery major Hershey has seen a strong quarter of growth in India, and says it is committed to investing in this emerging market.
Mydigitalfc.com reports that Hershey India, a subsidiary of The Hershey Company, operates both its confectionery and beverage lines from regional sales offices in Mumbai, Delhi, Chennai and Kolkata. The organization’s salesforce of 500 people reach more than a million retail outlets through 1,500 distributors spread across India. The Hershey brands Sofit, Hershey’s Syrup, Jumpin, Soft, and Jolly Rancher are popular with consumers.
“The scale and potential of India is key for our continued growth around the world and Hershey is committed to investing in India,” says Praveen Jakate, managing director of Hershey India.
April 29, 2015 No Comments
AECOM, a Fortune 500, U.S.-based engineering consulting firm that provides end-to-end solutions for all kinds of infrastructure development projects, plans to hire 1,500 more employees for its India operations, its global chairman & CEO Michael S. Burke said. Currently the company has 2,500 employees located across eight regional offices and project offices in 26 states in India.
Burke, who is visiting India for the first time, said in New Delhi, “AECOM is committed to India and is in a strong position to help Prime Minister Modi and the Indian government achieve the infrastructure vision for the country. We will be hiring professional local talent in India. They are expected to be engineering professionals, architects and planners.”
The company is working on the Dholera New Township in Gujarat, and development of the naval base Seabird in Karwar in the state of Karnataka. The projected construction cost for the two projects is $7.3 billion and $3 billion, respectively. It also provides consultancy services for the Metro rail projects in six cities. The total cost of construction works being undertaken by AECOM for the Mumbai, Hyderabad, Kolkata and Chennai Metros is $9.9 billion.
March 15, 2015 No Comments