Telcon to set up Rs 600 cr plant in WB

Telco Construction Equipment Co Ltd (Telcon), a joint venture of Tata Motors and Hitachi Construction Machinery Co Ltd (Japan), on Thursday announced a state-of-the-art manufacturing facility for earthmoving and construction equipment along with a R & D Centre at Kharagpur in West Bengal. Telcon MD Ranaveer Sinha and West Bengal Industrial Development Corporation (WBIDC) MD M V Rao signed a lease agreement for 250 acres of land for setting up the facility. Telcon will invest about Rs.600 crores in the facility, to be completed in three phases. The first phase will be completed by March 2009, and the final phase by March 2011. In addition, a vendor park will be set up on a 90-acre plot for about 20 strategic partners, who will separately invest about Rs.500 crores. The entire operation, including that of Telcon and its partners, is expected to generate over 1,000 direct jobs. .  

Nitesh Estates gets prime land in Chennai

Nitesh Estates on Thursday announced in Bangalore that it has acquired nine acres of premium land in Chennai for Rs 630 crores. Located at Chamiers Road in the Boat Club area, the church land will be taken on lease for 66 years.

This marks Nitesh’s foray into Chennai real estate market. The land will be used by Nitesh to develop a mixed use property. The one million sq ft property will house a premium 5 star hotel, shopping mall, office block and residential block.

Leela Bangalore gets the “Best Room” award

The Leela Palace hotel on Thursday announced in Bangalore that the Conde Nast Gold List 2008, which lists the best of best in hospitality, has listed it in the Best Rooms category. The hotel recently added 105 large sized premium rooms each close to 52 sq metre making them the largest business hotel rooms in the country, claimed the company. The additional rooms include five extra large deluxe suites of 84 sq metre each and 80 royal premiere rooms.

SAIL bags gold trophy from SCOPE

Steel Authority of India has won the  Gold Trophy of the ‘SCOPE Award for Excellence and Outstanding Contributions to the Public Sector Management’ for the year 2006-07. SAIL had earlier bagged the SCOPE Gold trophy for excellence and outstanding contribution to PSU Management in 2004-05 and special SCOPE Award in the Turnaround category for achieving a spectacular turnaround in 2003-04.

Yatra Capital to invest 1.5 billion Euros in India

Yatra Capital Ltd will invest close to 1.5 billion Euros in India over the next couple of years in various sectors of real estate, the company said in Kolkata on Thursday. Yatra picked up 50 per cent equity at a cost of Rs 117.6 crore in a Rs 400 crore IT SEZ being developed jointly by Bata India Ltd (BIL) and Calcutta Metropolitan Group at Batanagar. The 25 acre IT SEZ is part of a Rs 2,180 crore integrated township spread over 262 acre beside the Hoogly river.

AppLabs recognised as ‘Year’s Tech company’

AppLabs on Thursday announced that it was awarded as the ‘Technology Company of the Year’ in the 15th annual Enterprise Awards, which recognises outstanding technology and life sciences companies in the Greater Philadelphia area.

The awards, given by Eastern Technology Council and Fairmount Partners, are the region’s most prestigious competitive honours for technology and technology-oriented companies and their leaders.

Two day company secretaries conference

The 8th National Conference of Practising Company Secretaries will be held in the City on December 14 & 15. Council Member of the Institute of Company Secretaries of India C Sudhir Babu said that the conference, ‘Embracing Winning Strategies’ would deliberate on aspects of emerging scenarios in the business world.