Everest Industries has commenced commercial production of Fibre Cement Roofing Sheets at its new multi manufacturing plant at Bhagwanpur, Uttarakhand from Apr. 01, 2008.

Everest Industries is engaged in the business of manufacturing boards, sheets and providing building construction solutions. The company is entering into the business of design, manufacturing, supply and erection of pre-engineered steel buildings. The company has over 3,000 retail outlets and a fast growing export market in Europe, Africa, Australia and Asia.

Shares of the company gained Rs 2.75, or 2.89%, to trade at Rs 97.85. The total volume of shares traded was 212 at the BSE. (12.10 p.m., Friday)

News Source: http://www.myiris.com

The Uttarakhand government has cleared a proposal of Ashok Leyland for the expansion at Pantnagar industrial estate on a priority basis.

In its plan submitted to State Industrial Development Corporation of Uttarakhand (SIDCUL) Ashok Leyland, the flagship company of Hinduja Group, had said it was interested in buying another 17 acres Pantnagar industrial estate where it is setting up a manufacturing facility with an investment of Rs 1,000 crore at 175 acres.

“We have cleared the proposal,” said S P Tripathi, general manager, SIDCUL.

The company would now double its investment to Rs 2,000 crore from Rs 1,000 crore, said the SIDCUL officials.

Ashok Leyland is also planning to produce commercial vehicles and engine parts. The company would be manufacturing 40,000 vehicles a year and promises to give employment to 2,200 largely from Uttarakhand.

Earlier, the company had bought land from the state government at the rate of Rs 1,500 a sq mt. And now for 17 acres, the SIDUCL sold the land at Rs 2,500 a sq mt, the sources said.

The Hindujas Group has recently put up its expansion proposal before Chief Minister B C Khanduri, who promptly gave the green signal.

Besides Ashok Leyland, a slew of auto industries are setting up their new units in Uttarakhand to take the benefits of the tax holiday scheme announced by the Centre in 2003. Tata Motors, Bajaj Auto, Hero Honda and Mahindra and Mahindra are among some of the top companies, which are setting up their facilities in the state.

Hero Honda was among the first auto companies to enter Haridwar, where it is setting up a new unit with an investment of Rs 1,200 crore. The company has bought 275 acres for the facility.

Tata Motors along with its ancillaries is investing Rs 1,859 crore at its manufacturing facility in Pantnagar industrial estate. The company would be producing its Ace trucks for which it has already bought 1,000 acres.

Bajaj Auto is also investing Rs 500-600 crore to set up a manufacturing unit for producing motorbikes in Pantnagar.

News Source: http://www.business-standard.com

Sundram Fasteners Ltd has informed the BSE that its Rs 30-crore manufacturing facility in Pantnagar, Uttarakhand commenced production from December 1.

The plant manufactures high-tensile fasteners, powder metal parts, water pumps and oil pumps.

It will cater to the requirements of Tata Motors, Bajaj Auto, Mahindra & Mahindra and other customers located in the Northern region besides servicing after-market requirements.

News Source: http://www.thehindubusinessline.com

AMD Metplast Ltd has informed the BSE that in terms of approval of the board of directors on November 19, the company has approved setting up an integrated textile unit in the notified industrial area situated at Padartha village in Haridwar, Uttarakhand on land admeasuring 24.6 acres at a total project cost of Rs 280 crore.

In this connection, the Uttarakhand Government has notified land admeasuring 24.6 acres to be deemed for the Government-approved mega textiles project of the company. The company proposes to set up the unit with 112 looms and 30,000 spindles and with a capacity to process 64,800 sq m of fabric per day.

News Source: http://sify.com

Residential projects from nearly 35 builders are coming up in Rudrapur, Uttarakhand. The city is set to witness massive industrial development, and will generate a lot of employment. This will in turn increase the demand for housing, as a massive influx of workers from outside is expected. Already, rental rates are quite high here because of the shortage of ready-to-move-in apartments. A large number of people from the Delhi-NCR have already invested in an apartment here, either because they expect house prices to appreciate, or because they want regular income by renting them out. If you are looking for an investment option in Rudrapur, Omaxe Riviera, an integrated township by Omaxe, is a good place to begin your search.

Getting there
Drive straight along National Highway 24 till you reach Moradabad. After you cross Rampur and hit National Highway 87, go straight along this highway. On the left hand side, you will see an unmetalled road that goes to the project site.

Quick check
The township is spread over 47 acres. On offer are the two to four-bedroom apartments ranging in size from 910 to 3,000 sq ft. The Central Industrial Development Authority has given its approval for this township. The configuration of highrises is ground plus four floors. Altogether 2,076 units are being developed. Of this, 1,768 units, or nearly 85 per cent, have been sold out. The basic rate here is Rs 1,700 per sq ft. The company offers a discount to corporate buyers. Corporate buyers will receive possession in a year, and the lay buyer, in two years. In addition to the basic rate, the developer levies a preferential location charge for apartments on the ground floor. Buyers also have to pay maintenance and parking charges.

Sample flat
The three-bedroom sample flat has a super area of 1,750 sq ft. On the ground floor you have a lot of green space. The entrance is wide and opens into a drawing-dining space, which in turn leads into the bedrooms and the modular kitchen. All the bedrooms and the drawing-dining space are fitted with vitrified tiles. The bathrooms have anti-skid tiles on the floor. The kitchen has a granite platform. Attached to the master bedroom is a bay area for dressing. All the three bedrooms have an attached bathroom. The bedrooms are built in such a way that the privacy of the occupants of each bedroom will be maintained. For washing, you have a utility area adjoining the kitchen. A study room has been provided to ensure enough space and peace to your kids during their exams. The balcony attached to the master bedroom spans the length of the room. POP work on the ceiling and walls gives the apartment a touch of elegance.

Facilities
Within the city, the developer will provide a range of facilities so that you don’t have to venture outside, especially for meeting your daily needs. Power back up, 24X7 security, ample parking space, a super market, grocery store, health club, hospital, crèche, school, post office and conference hall are all being developed within the city limits. As for recreational facilities, the city will have a state-of-the-art club with swimming pool, sauna, steam bath, banquet hall, and gym. At the multiplex you will be able to watch movies during weekends. A food court and service apartments will also be provided.

Impressions
Located on National highway 87, Omaxe Riviera is close to the State Industrial Development Corporation of Uttaranchal Limited (SIDCUL), Panthnagar, where most of the people here will be working. While the airport is 10 km away from the project site, the nearest bust stop is 3 km away. As for Rudrapur, it is well connected to Delhi and is close to the major towns of Uttarakhand and Uttar Pradesh. A number of reputed corporate houses are setting up their manufacturing units in the Sidcul area, which is times to come will emerge as a major employment hub. At present, property prices are stable. As this project nears completion, and more development happens within the Sidcul area, prices are bound to rise. Besides Omaxe, several other developers from the NCR region whose names you would be familiar with — Assotech, Supertech, and Samiah —are also developing projects in Rudrapur. Dynamics and RSK are among the other main developers here. Before you make a purchase decision, visit all their project sites. Check out their locations, the amenities on offer, and the prices being demanded. Several smaller developers are also setting up projects here. If they don’t have a track record of having built and handed over possession of projects in the past, avoid them.

News Source: http://www.expressestates.in

Sterlite Optical Technologies Ltd has announced that the Company has an export order book for Power Transmission Conductors valued at approximately US$ 62 Million. Based on the delivery schedules required by its customers, the Company anticipates to complete deliveries within the next 6-8 months.

The Company acquired the Power Transmission Business from Sterlite Industries (India) Ltd in July 2006. For the 9-month period in FY 2006-07, export revenues from the Company’s Power Transmission Conductors business accounted for approximately US$ 35 Million.

The Company currently has about 3% global market share for Power Transmission Conductors and these have been sold in 38 countries across Africa, Middle East, Asia & Europe to reputed Turnkey, Utilities and Infrastructure Companies such as SONELGAZ – Algeria, EEPCO – Ethiopia, PHCN – Nigeria and ESKOM- South Africa, to name a few.

Says Mr. Pravin Agarwal – Director, of the Company, “In order to address the growing demand from our global customer base, in FY 2006-07 we decided to undertake a Greenfield expansion for manufacture of Power Transmission Conductors at Haridwar, Uttaranchal. The project is well underway and we anticipate commercial production by June 2007.”

The Company’s experience with the varying requirements of customers in global markets has ensured continuous improvement and customer orientation of the Company. The Company is a significant contributor to the global power sector with a complete range of power transmission conductors at Extra High Voltages (400kV – 800kV), High Voltages (66kV – 220kV) and power distribution conductors (11kV- 33kV) the Company currently supplies about 23% of India’s total demand for power transmission & distribution conductors.

News Source: http://www.equitybulls.com

The Asian Development Bank (ADB) has pledged investments of $550 million to upgrade rural roads in Uttaranchal through a 10-year programme.

‘More than 90 percent of intra and intercity freight and passenger traffic in Uttaranchal moves by road. Yet, nearly one third of the state’s main roads and almost three quarters of the other district and village roads need to be repaired or upgraded,’ the Manila-based agency said in a statement Friday.

To address these deficiencies and spread the benefits of growth more evenly, Uttaranchal has drafted a Road Development Plan that will cost an estimated $1.2 billion over 10 years.

‘The ADB investment programme would finance part of the plan, rehabilitating a total of about 10,800 km of state roads – or about two thirds of public works department’s (PWD) network,’ the multilateral body said.

The ADB funding will be made available through a multi-tranche financing facility, from which separate loans can be drawn to a total of $550 million over 10 years.

The first loan for $50 million will improve 570 km of roads in the state and initiate a reengineering of PWD’s business processes.

‘The roads to be improved are spread over all 13 districts of the state and will be accessible to about 3.5 million people living in nearby villages,’ said Prianka Seneviratne, ADB team leader for the project.

‘Over time, they will benefit from a gradual speeding up of travel time, an easing of vehicle operating costs, and creation of hundreds of thousands of hours of labour work.’

News Source: http://www.indiaprwire.com

Larsen & Toubro in joint venture (JV) with Alpine Mayreder Bau GmbH, Austria has bagged an Rs 456 crore order from the National Thermal Power Corporation (NTPC) for the execution of 4 x 130MW Tapovan Vishnugad hydropower project in Uttaranchal.

According to the release issued by L&T to the BSE, the order includes the construction of a concrete lined head race tunnel of approximately 11.3 km length, 5.6 metres in diameter. The project is located in the Chamoli district on the Dhauliganga river.

“This is the second hydropower project that the company will execute, after the Singoli Bhatwari project, in Uttaranchal” the release added.

News Source: http://www.business-standard.com

HCL Infosystems Ltd. has launched its manufacturing facility in India at Rudrapur, Uttaranchal, thus strengthening its leadership in the ICT arena. Beginning with production of desktops computers and LCD monitors, the plant has the capability to manufacture an entire spectrum of ICT products – including notebooks, servers as well as thin clients.

The new HCL manufacturing base, which was completed in eight months after commissioning, has already received its ISO 14001, ISO 9001:2000 certifications – ensuring that all HCL products manufactured here, comply with global quality standards. While HCL has already recruited more than 200 local employees, it plans to recruit around 500 people in various capabilities as it commissions to its full capacity. Spread over 10 acres of land area in the progressive SIDCUL Industrial Estate at Pantnagar in Rudrapur, this facility would enhance the overall capacity of HCL to two million PCs per annum.

Inaugurating the facility, N.D. Tiwari, Chief Minister of Uttaranchal said, “As the Indian IT industry is growing at a rapid pace and is working extensively to bridge the digital divide, we in Uttaranchal would like to welcome the nation’s most renowned indigenous ICT innovator – HCL, to the state. We are sure that this new facility of HCL will further enable them to take computing and ICT, right till the most remote corner of the country and will also prominently display the state of Uttaranchal on the Indian IT map.”

Ajai Chowdhry, chairman & CEO, HCL Infosystems Ltd., said, “This facility will complement our existing manufacturing base at Pondicherry – taking our overall annual capacity to two million PCs per annum. With multiproduct manufacturing capabilities, HCL will be amongst the nation’s largest vertically integrated ICT manufacturing facilities. Besides enabling us to manufacture a wide spectrum of ICT products, this facility will also allow us to offer more enhanced value to our customers through better logistics efficiency, lower time to market as well as de-risk our complete manufacturing portfolio – with strong facility base in both southern and northern India. Moreover it makes us future-ready to take on expected strong growth potential, being expected in Indian PC market.”

The company says that the new facility has installed several state-of-the-art processes as well as advanced testing techniques. These ensure that the various products coming out from HCL assembly line are uniquely equipped to face any challenging & extreme operating situations, which are often witnessed in Indian hinterlands. The Uttaranchal facility will cater to the additional volumes of HCL servicing the northern markets.

News Source: http://www.crn-india.com

Commercial vehicles major, Ashok Leyland, decided to set up a plant in Pantnagar area of Uttaranchal hill state on a 175-acre plot with an investment of around Rs. 11 billion. Uttaranchal government offers excise and income tax breaks to investors.

The decks have been cleared and the company would be handed over the land shortly, the sources said. The company intends to manufacture commercial vehicles at the plant and the actual rollout could take about 1-2 years, the company noted.

Apart from Ashok Leyland, other automobile companies that have set up units in the state include Tata Motors, Mahindra and Mahindra, Bajaj Auto and Hero Honda. Ashok Leyland currently has six manufacturing plants – the mother plant being at Ennore near Chennai, three plants at Hosur and assembly plants at Alwar and Bhandara. The total covered space at these six plants exceeds 4,50,000 sq.m and they together employ over 11,500 personnel.

News Source: http://www.tradingmarkets.com