Category Archives: Business & Economy

Acme Group wins bid for 160 MW solar projects in AP

October 30, 2014Business & Economy, Green Initiatives / Environment, Science & Technologyadmin

Projects will require estimated investment of Rs.1,250 crore

Acme Cleantech Solutions will sign a 25-year power purchasing agreement with Southern Power Distribution Co. Ltd in Andhra Pradesh. Photo: AFP

Hyderabad:

Acme Cleantech Solutions Ltd. on Monday said it has won a bid to develop 160 megawatt (MW) of solar power projects in Andhra Pradesh.

The projects will be set up in the Anantapur, Kurnool and Chittoor districts in Andhra Pradesh and will require an estimated investment of Rs.1,250 crore, the company said in a statement.

“This win is the country’s largest win by any private solar developer,” Manoj Kumar Upadhyay, founder and chairman of Acme Group said in the statement. “With this addition, our solar power portfolio has reached 422.5 MW and we are on way to generate 1000 MW by year 2017,” Upadhyay added.

The company will sign a 25-year power purchasing agreement with Southern Power Distribution Co. Ltd in Andhra Pradesh.

A total of 51 bidders participated in the tender process.

Bifurcated Andhra Pradesh is one of the three states chosen by the union government for the power for all scheme that will ensure 24X7 power supply. The N. Chandrababu Naidu government is keen on harnessing solar energy for electricity generation.

Public sector National Thermal Power Corp. (NTPC) recently signed a memorandum of understanding with the Andhra Pradesh government to develop a 1,000 MW solar park on a build-own-operate basis with an investment of Rs.7,000 crore. The Union government also agreed to grant Rs.500 crore to Andhra Pradesh to develop 2,500 MW of solar energy, PTI reported on 24 October.

Acme Group has solar power projects in the states of Gujarat, Madhya Pradesh, Rajasthan, Odisha and Chhattisgarh.

source: http://www.livemint.com / Live Mint / Home> Industry / by Yogendra Kalavalapalli / Tuesday – October 28th, 2014

Andhra Pradesh gets its own Film Chamber

October 28, 2014Arts, Culture & Entertainment, Business & Economy, Records, Alladmin

Guntur:

A separate film chamber was launched for AP state on Saturday at Tadepalli of Guntur district.

Film director Dileep Raja said that in view of bifurcation, Seemandhra Film Chamber of Commerce was formed for the welfare of AP film industry with the cooperation of producers and directors. He said that disputes are common in the film industry and various organisations work to resolve them.

Welcoming the new capital at Vijayawada, he said that there were lots of chances for development of the Telugu film industry in Vijayawada and Guntur.

source: http://www.deccanchronicle.com / Deccan Chronicle / Home> Nation> Current Affairs / DC Correspondent / October 26th, 2014

Varun group starts work on 5-star hotel in Vijayawada

October 28, 2014Business & Economyadmin

Visakhapatnam-based Varun group has started work on its five-star hotel project in Vijayawada, according to the Managing Director V Prabhu Kishore.

He said in an interview that more than ₹100 crore would be spent on the hotel and “it may be completed in three years or so”. He said the group had first built a five-star hotel on the beach road — Varun Beach Novotel — here; this hotel suffered minimal damage during the recent cyclone due to precautionary measures.

“Fortunately, we weathered the storm and we did our best to provide all comforts to our guests even on the cyclone day. It is the worst natural disaster to have befallen the city at a most crucial time in its history but we will overcome it,” he said, adding that it was a blow to the tourism and hospitality sectors.

However, he said, the outlets of Varun Motors and other units of the group suffered considerable damage from Hudhud in the districts of Visakhapatnam, Vizianagaram and Srikakulam and “we estimate the loss to be ₹8.5-9 crore. We expect insurance companies to settle claims quickly.” He said the Varun Group would carry on undaunted in spite of the cyclone and contribute its mite to the relief work.

source: http://www.thehindubusinessline.com / Business Line / Home> Companies / by CH Sharma / Visakhapatnam – October 26th, 2014

PricewaterhouseCoopers to hardsell ‘Brand Andhra Pradesh’ to Far East

October 28, 2014Business & Economy, Nature, World Opinionadmin

Hyderabad :

In his maiden visit to the Far East after taking over as chief minister, Chandrababu Naidu will don the role of chief executive officer of Andhra Pradesh in clinching business deals and attracting investors to the state.

Andhra Pradesh chief minister N Chandrababu Naidu.

There is nothing new in this. Even during his last tenure Naidu played the role of a CEO but what is new is that he has hired leading consultant PricewaterhouseCoopers Pvt Ltd (PwC) to sell ‘Brand Andhra Pradesh’ to the governments and investors in China, Japan and South Korea when he visits these countries in November-December.

Hired at a cost of Rs 47 lakh, excluding applicable service taxes, PwC will in its capacity as Content Developer and Investment Facilitator prepare the ground for the CM’s visit, fix the appointments and sell the state in order to mop up investments. As per the GO issued on Saturday, PwC will bring out an attractive investment booklet for the AP government and prepare an infrastructure opportunities profile of the state. “The Knowledge Consultant Provider will also extend all support for the delegation planning. PwC team members will also accompany the Naidu’s delegation comprising ministers, state government officials and representatives of the industry from the state,” sources in the Naidu government told STOI.

Naidu, who has prepared a massive plan to bring in investments to his proposed industrial hubs and corridors, wants to conduct negotiations with the government and corporate bosses in these countries not like a chief minister of a small state in India but like head of a global corporate brand. “Naidu does not want to depend wholly on bureaucrats, who are known for quoting rules and introducing impediments. The Far East visit is on a business mission, not a diplomatic one which is why Naidu wants to project himself as a corporate personality rather than the political head of a south Indian province,” remarked sources in the government.

A PwC team will shortly be placed at the disposal of the Chief Minister’s Office, the sources added. Given the success of his business delegation to Naya Raipur in Chhattisgarh last month, officials here are hopeful that Naidu’s visit will be fruitful.

Naidu during his first tenure had successfully sold Hyderabad and secured investments from top IT companies like Microsoft that gave a new meaning to the erstwhile Nizam’s city and created a new image. In fact he was the first chief minister to take advantage of liberalization in the 1990s. Other chief ministers – including now Prime Minister Narendra Modi followed in the footsteps of Naidu.

source: http://www.timesofindia.indiatimes.com / The Times of India / Home> India / TNN / October 26th, 2014

Trimex Sands Ltd. to build cyclone shelters

October 28, 2014Business & Economy, Green Initiatives / Environment, Science & Technologyadmin

Trimex Sands Private Limited Managing Director Koneru Prasad handing over a demand draft for Rs. 50 lakh to Chief Minister N.Chandrababu Naidu during latter's visit to Srikakuam, towards relief operations in cyclone-hit areas.PHOTO: By Arrangement — Trimex Sands Private Limited Managing Director Koneru Prasad handing over a demand draft for Rs. 50 lakh to Chief Minister N.Chandrababu Naidu during latter’s visit to Srikakuam, towards relief operations in cyclone-hit areas.PHOTO: By Arrangement

Cyclone shelters have been planned in Gara and Srikakulam mandals with a fund of Rs. 3 crore

Trimex Sands Private Limited (TSPL), which is worrying with the suspension of its operations due to protests by the local residents, is trying to win hearts of both locals and the administration with a series of CSR activities. It came forward to construct cyclone relief shelters in Gara and Srikakulam mandals with an involvement of an expenditure of Rs.3 crore.

TSPL Managing Director Koneru Pradeep has already shown the designs for the cyclone shelters to Chief Minister N.Chandrababu Naidu during the latter’s visit to Srikakulam and handed over Rs.50 lakh for carrying out immediate relief operations in the cyclone-hit areas of the district.

He also promised the Chief Minister that the company would supply safe drinking water by constructing reverse osmosis plants under the NTR Sujaladhara programme.

“We will cover 30 villages under this programme. The company has already constructed an English medium school with a fund of Rs. 2.5 crore. We have planned to improve health and education in fishermen villages,” said Mr. Pradeep.

Labour Minister Kinjarapu Atchannaidu, Srikakulam MP Kinjarapu Rammohan hailed the move by the company. They suggested other companies to follow the suit since more funds were needed to improve civic infrastructure in the coastal villages.

Meanwhile, Srikakulam District Industrial Centre has planned to organise another meeting with various industries in Srikakulam for taking up CSR activities in a big way. DIC General Manager B.Gopala Krishna said that the companies, with their constant efforts and social service activities, should instil confidence among the local villagers.

source: http://www.thehindu.com / The Hindu / Home> News> National> Andhra Pradesh / by Staff Reporter / Srikakulam – October 25th, 2014

Andhra industry body, Turkish Indian chamber sign MoU

October 28, 2014Business & Economy, World Opinionadmin

Hyderabad (IANS):

The Federation of Andhra Pradesh Chamber of Commerce and Industry (FAPCCI) and the Turkish Indian Chambers of Commerce and Industry (TICCI) have signed an agreement for the promotion of commercial and industrial relations.

Under this agreement, FAPCCI and TICCI will encourage the exchange of trade missions, supply relevant market information, conduct business match-making and exchange relevant know-how and information for organising exhibitions/trade fairs.

They will also exchange and answer trade/business enquiries, research on trade and investment by providing facilities and business contacts and cooperate in the education and training programs for human resources development.

The Memorandum of Understanding (MoU) was signed by FAPCCI president Shiv Kumar Rungta and TICCI president Ersin Karaoglan.

As a result of this MoU, a trade delegation from Turkey will visit Hyderabad in January 2015.

source: http://www.daijiworld.com / DaijiWorld / Home> World / IANS / Wednesday – October 22nd, 2014

GOI nod for ORR around VGT agglomeration

October 28, 2014About Seemandhra / Andhra Pradesh, Business & Economyadmin

Draft map of proposed Vijayawada Outer Ring Road . Photo: By Arrangement.

The Government of India has in principle agreed to include the proposed Outer Ring Road (ORR) covering Vijayawada-Guntur-Tenali Agglomeration under the National Highway Development Project Phase VII.

The Ministry of Road Transport and Highways however said the inclusion of the 180-km ORR project is subject to condition that the Andhra Pradesh Government “agrees to provide land (Right of Way) free of encumbrances for the construction of the ORR” on the lines of the one at Hyderabad.

In an office memorandum, the Chief Engineer S.S. Nahar recalled the representation made by Chief Minister N. Chandrababu Naidu seeking sanction of Rs.19,700 crore required for the project.

The Chief Engineer in the office memo to the Prime Minister’s office referring to the request for “external connectivity infrastructure around the newly proposed capital city of Vijayawada” said that the eight-lane ORR with two-lane service roads round the VGT Agglomeration could be “considered” under NHDP Phase – VII.

A copy of the office memo was sent with a draft map to A.P.Government secretary for Transport and R&B Sam Bob.

The ORR in the draft map passes close to Guntur, Gudivada, Hanuman Junction, Mylavaram, Kanchikacherala and Tenali.

Infobox

ORR fundas

A.P. Government has to provide land for the construction

Naidu seeks sanction of Rs.19,700 crore required for the project.

ORR passes close to Guntur, Gudivada, Hanuman Junction, Mylavaram, Kanchikacherala and Tenali.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Vijayawada / by G. Venkataramana Rao / Vijayawada, October 27th, 2014

US Consul General promises all help in development of A.P

October 26, 2014Business & Economy, World Opinionadmin

School of Planning and Architecture Director N. Sridharan (left) welcoming US Consul General Michael Mullins to an interactive session on the school premises in Vijayawada. Photo: By Arrangement

US Consul General Michael Mullins visited the School of Planning and Architecture (SPAV) here and had a discussion on its activities with Director N. Sridharan and his team. He was briefed about the study that SPAV students were doing on construction of capital of Andhra Pradesh and related issues.

On the occasion, Mr. Mullins wished the State all success in its endeavours and promised to extend whatever help the Consulate could for development of the State.

Mr. Sridharan said the institute was contributing to evolve futuristic initiatives in the State, studying coastal areas, doing micro-planning and helping in drawing plans for transportation and logistics, spatial governance, technology, environment, urban and landscape designing, building services, etc. Besides, focus was laid on encouraging local and regional artworks and activities such as Kalamkari and Kondapalli toy making.

SPAV faculty member Aparna Soni that the potential of the region was assessed with the help of a Composite Development Index and key indicators like land requirement, social development and environment and institutions.

R. Kalaiselvi of Department of Architecture presented a broad overview of establishment of a Centre of Excellence that would lend its expertise in sustainable building technologies, spatial governance, designing etc. which were relevant for development of the State.

Another faculty member Raktim Ray discussed the unique features of the region and possibilities for vertical development due to land acquisition related issues.

SPAV Registrar Krishna Mohan, Chief of Political Economic Affairs, Consulate General of the USA Peter McSharry, Political and Economic Associate John A. Mataya and others were present.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Vijayawada / by Staff Reporter / Vijayawada – October 25th, 2014

Export Inspection Council of India branch to serve exporters

October 17, 2014Business & Economyadmin

Export Inspection Council of India (EIC) logo. (Photo: Official websit of EIC)

Nellore:

Export Inspection Council of India (EIC), a regulatory authority for quality control and pre-shipment inspection of notified export commodities to European Countries, opened its branch in Nellore.

The new branch is a boon to 13 shrimp, fish and fishery product establishments and two milk establishments in Nellore. Hitherto these companies used to go all the way to Chennai for certification for export and the new branch has put an end to their ordeals.
This is the third branch for EIC, which got branches in Bhimavaram and Visakhapatnam in AP.

According to the Director of EIC, Dr S.K. Saxena, EIC is nodal certification body for certificate of origin under various preferential tariff schemes, designates and approve private inspection agencies and laboratories to supplement its own activities through Export Inspection Agencies.

It is also an advisory board to Government of India on measures to be taken for enforcement of quality control and inspection of commodities intended for export and to draw up programme for quality control and inspection of commodities.

He said that the new office in Nellore is the seventh sub-office under Export Inspection Agency, Chennai and 27th sub-office under Export Inspection Council of India.

The inception of the Nellore sub-office is to cater the need of fish and fishery products and food establishments at Nellore and surrounding areas also covering the primary production level.

“As a major port in Asia, the export and import activities have been increased by manifolds in Krishnapatnam port. Certification activities of EIA, Chennai, in the issuance of certificate of origin are also expected to be more in the coming years. To ease the trade community for approaching EIA, Chennai regional office at Chennai for all the activities, the new sub-office at Nellore is established with modern laboratory facilities,” the Director said.

Nellore mayor and noted shrimp exporter Abdul Azeez said that the branch will save time to the exporters located in and around Nellore.

source: http://www.deccanchronicle.com / Deccan Chronicle / Home> Nation> Current Affairs / DC Correspondent / October 12th, 2014

Fishing activity resumes at Masula coast

October 14, 2014Amazing Feats, Business & Economy, Natureadmin

Barely hours after Hudhud made landfall close to Visakhapatnam, fishing operations resumed in parts of Krishna district on Monday. The fishing activity along the coast of Andhra Pradesh has come to a standstill since the weathermen alerted about the storm.

Spared by the Hudhud without any damage to crops or fishing materials, fishermen in few locations including Nagayalanka on Monday returned to the sea, via backwaters of Krishna near the latter’s confluence point.

However, the Gilakaladindi harbour authorities have announced warning number three on Monday, suspending fishing activity.

Speaking to The Hindu, Gilakaladindi fishermen said that they were gearing up for fishing from Tuesday. “Hudhud had no impact on Krishna district including the strategic coastline. We have no reports of damage of standing paddy fields or fishing material,” Hudhud In-charge of Machilipatnam coast A. Varaprasada Rao told The Hindu. However, a field level team was roped in by the government to stay in the villages to register any damage claimed by the local communities.

source: http://www.thehindu.com / The Hindu / Home> News>Cities> Vijayawada / by Staff Reporter / Gilakaladindi (Krishna) / October 13th, 2014

Andhra Pradesh First

a Celebration. Positive News, Facts & Achievements about Seemandhra, Coastal Andhra, Telugu People and all the People of Andhra Pradesh – here at Home and Overseas