Essar

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Essar Oil’s refinery expansion project at Vadinar may turn out to be the only such upcoming project to be denied a 100% tax holiday available to refinery projects. This follows the finance ministry’s decision which allows refinery projects to enjoy the tax holiday only if they have a joint venture... [[ This is a content summary only. Visit my website for full links, other content, and more!

Tata Steel, India's biggest steelmaker, Essar Steel and BlueScope Steel are seeking to buy a stake in Indonesia's state-owned producer of the metal, an official from the Southeast Asian nation said. The three companies, along with ArcelorMittal, the world's biggest steelmaker, have sent letters expressing their interest in buying a stake in PT Krakatau Steel, Ansari Bukhari, director general of metal, machinery, textile and miscellaneous industries at Indonesia's industry ministry, said in Jakarta.A larger partner will help Krakatau Steel gain expertise and double capacity to 5 million metric tonnes a year, Bukhari said. Overseas steelmakers and Krakatau may benefit from rising demand for the metal in Asia's third-most populous nation as the lowest interest rate in three years boosts deman

Steelmaker Essar Steel said on Thursday it planned to acquire US steel company Esmark, valuing the deal at 1.1 billion dollars, as it pushes ahead with an aggressive North American expansion drive. With the planned buy, Essar will have nearly seven million tonnes of steelmaking capacity in the United States and Canada, making it a significant North American player, the company said in a release. The proposed purchase by India's third-largest steelmaker, part of the oil- to-communications group Essar Global, is another sign of cash-flush corporate India spreading its wings worldwide. "This is one more step in realising our global steel vision of having world-class, low-cost assets, with a global footprint," Essar Global Chairman Shashi Ruia said in the statement. The deal comes after Essar,

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Featured News:-mobile-phones/get-ready-india-here-comes-the-iphone/34131/0?utm_source=dailynewsletter&utm_medium=email is flooded with the news / rumours that Apple's iPhone is / may officially grounding THE LARGEST DEMOCRACY OF THE WORLD: INDIA this September : ) Cheers Indians.... The local host and partner for the official Apple iPhone India would be JV Essar Vodafone India.The introductory i phone version that may be likely to introduced in India is 8GB version at a price approx. around Rs.30,000/- (USD 750). Apple iPhone now a days sells in India in its Gray Markets as Gaffar Market New Delhi, Streets of Mumbai and online too : )8GB Apple iPhone could be purchased from here online which is promised to work with all Indian GSM operators, as it claims to be an unlocked one.,shop.pro

GTL Infrastructure and the Essar Group have agreed to combine their telecom tower businesses into one entity in a transaction that could be worth at least $2 billion. According to sources, GTL Infrastructure, which owns about 6,000 towers, will buy Essar’s business and merge it with itself. Essar Group companies, which own Essar Telecom Infrastructure, will be offered cash and some stake in the combined entity. The deal will help GTL Infrastructure increase its tower sites by around 50%. The combined entity is likely to have about 20,000 towers by June 2008, when the ongoing expansion plans are complete.The deal, when materializes will be one more transaction in the fledgling telecom tower industry, which is seeing a spate of spin-offs, outright sales and private equity deals. Last year,

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The Finance Ministry is believed to be examining a proposal by Ruias-led Essar Group to bring in foreign investment of up to $2 billion (about Rs8,000 crore) through Mauritius-based Essar Power Holdings in Essar Power.“The Essar Power’s proposal of bringing $2 billion was discussed by the Foreign Investment Promotion Board (FIPB) in its meeting held on Friday, but it has been deferred,” official sources said.The company has been asked to provide further details about the investment. Once recommended by the FIPB, the proposal is expected to be considered by the Cabinet Committee of Economic Affairs (CCEA) due to large size of foreign investment, the sources said.The Essar Power, an arm of Essar Group, plans to bring over foreign investment through Essar Power Holdings (EPH) for equity

The Telecom Regulatory Authority of India (TRAI) Thursday ordered Vodafone-Essar, a leading telecom operator, to refund all money that it has charged for providing value added services to its subscribers without their approval. “The authority had received complaints from the subscribers of Vodafone-Essar Mobile Services Ltd regarding provision of value- added services without consent,” TRAI said [...]

Essar Exploration & Production Ltd (EEPL), Mauritius, has been awarded an offshore block in Vietnam’s prolific Song Hong basin, The exploration phase is estimated to last five years and the investment for this programme will be approximately US$ 60 million. addthis_url = 'http%3A%2F%2Fwww.rupya.com%2Farchives%2F2008%2F03%2F04%2Fessar-oil-to-invest-60-million-dollar-in-ep-block%2F'; addthis_title = 'Essar+Oil+to+invest+60+million+Dollar+in+E%26%23038%3BP+Block'; addthis_pub [...]

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Essar Telecom Retail has entered into an agreement with the UK-based Virgin Group for brand licensing, technical and consultancy services for its mobile phone retail chain. Virgin will provide its expertise in branding, customer care, store operations and staff training, and will also get royalty for use of its name. The logo `Powered by Essar & Virgin' will accompany the store name of `The MobileStore'. Telecom retail, it seems, is the latest buzzword in India, with Essar Telecom Retail, a unit of Essar Group, planning to increase the number of its stores from 250 at present to 2,500 by 2010. The company will invest Rs 1,200 crore over the next three years in its multi-brand telecom retail stores that operate under the brand name of MobileStore. The company will also increase its headcount from 1,500 to 10,000 by 2010 and expects to close the fiscal with a revenue of Rs 1,000 crore. With this, it joins players like HotS

Essar Oil plans to raise about $750 million which is approximately Rs. 3,000 Crores from overseas to fund expansion of its Vadinar refinery in Gujarat. Essar owns a 10.5 million tonnes a year refinery at Vadinar and it has informed the stock exchanges that it would raise the money through Foreign Cuurency Convertible bonds, Global or American depository receipts or other instruments overseas. The company is planning to expand the refinery's capacity to 16 million tonnes.

In April, the cellular subscriber base of Bharti touched 3.88 crore with additions of 17.51 lakh users, followed by BSNL at 2.77 crore with a market share of 22.10 per cent and additions of 3.26 lakh subscribers.Hutch-Essar has 2.77 crore subscribers, taking its market share to 22.06 per cent and Idea with a market share of 11.60 per cent has 1.45 crore subscribers in April.Hutch-Essar added 12.61 lakh subscribers in the month of April(against 3.26 of BSNL), while Idea added 5.52 lakh mobile users in the same month. If trend continues , by May end Hutch will over take BSNL as no 2 GSM operator.Sustaining its aggressive growth in subscriber additions, the GSM-based cellular industry has added over 41 lakh subscribers in April with Bharti Airtel capturing 30.97 per cent of the market share.With this, the all-India GSM subscriber base has touched 12.55 crore at the end of April 2007 compared to 12.14 crore at the end of March 2007, reflecting a growth rate of 3.40 per cent, the Cellular O

DoCoMo and Hutchison Essar, called off a deal to launch mobile Internet services in India using DoCoMo's technology due to U.K.-based operator Vodafone Group's bid for a controlling stake in Hutchison Essar, a major Indian operator.NTT DoCoMo is Japan's dominant cellular provider but has seen profits fall as it competes with rivals in the saturated domestic market. While the financial hit from Monday's canceled deal will be small, it is symbolic of how the company has generally struggled to establish new sources of income.DoCoMo's i-mode service includes technology that lets users send email and view online content via mobile phones. In December, the company and Hutchison Essar had agreed to launch the service in India this year. The company may now considering various other options in India, including tie-ups with other Indian carriers.India is one of the world's fastest growing telecommunications markets, with about 206 million subscribers currently. Japan has more than 100 mil

TOKYO, JAPAN, May 7, 2007 --- NTT DoCoMo, Inc. announced that the company and Indian mobile operator Hutchison Essar Ltd. ("Hutch") have agreed not to proceed with the contract signed on December 15, 2006 regarding the licensing of the i-mode™ mobile Internet service in India.DoCoMo and Hutch had been striving to launch i-mode service in India within 2007. Due to the changes in business environment, both companies concluded that it would be difficult to launch i-mode service at this time and agreed not to proceed.About NTT DoCoMoNTT DoCoMo is the world's leading mobile communications company. DoCoMo serves more than 52 million customers, including 35 million people subscribing to FOMA™, launched as the world's first 3G mobile service based on W-CDMA in 2001. DoCoMo also offers a wide variety of leading-edge mobile multimedia services, including i-mode™, the world's most popular mobile e-mail/Internet service, used by more than 47 million people. With the addition of credit-car

With Indian finance minister P Chidambaram giving his go-ahead, Vodafone seems to have cleared its last hurdle in acquiring a controlling stake in Hutch Essar. This approval comes within a week of the Foreign Investment Promotion Board giving its nod for the acquisition and should pave the way for Vodafone to secure management control of HEL and for the company to be renamed Vodafone Essar.As per a leading finanacial daily " As a first step, Vodafone will now be able to constitute a new 12-member board to oversee the operations of the company. Essar vice-chairman Ravi Ruia will be the chairman of Vodafone Essar and Vodafone chairman Arun Sarin will be the vice-chairman. Max India chairman Analjit Singh and HEL MD Asim Ghosh will also be on the board."The dramaThe Vodafone-HEL regulatory saga, which saw the proposal being deferred thrice by FIPB, began in February soon after Vodafone announced it had agreed to acquire companies that controlled 67% in HEL from Hutchison Telecom for $11.1

India's Hutchison Essar is reported to be pressing ahead with a tender for GSM equipment which could be worth as much as US$2 billion. The tender is expected to go ahead, even though the problematic purchase of a majority stake in the firm by Vodafone is mired in controversy about India's cap on foreign shareholder.The company would roll out extra capacity in the existing 16 circles (licensed areas) and was also factoring in the proposed launch of operations in six Spacetel circles acquired from the Essar group last year. Spacetel has a letter of intent from the Department of Telecom to operate in North East, Himachal Pradesh, Bihar, Orissa, Assam, and Jammu and Kashmir where Hutchison Essar is not present.Hutchison Essar ended last year with some 23.3 million subscribers, giving the company a market share of just over 16%.Source - Economic Timeshttp://telecomsector.blogspot.com/atom.xml

Thursday Morning, March 29th ICS Site News: Special Situation - NNRF: Nucon is our best speculative play. Russian stocks such as VIP, MBT, GLDN and ROS are all dominant in their technolgy field, and NNRF could be the same. They are looking for listings on multiple exchanges, and we would not be surprised by a takeout at or near 20 in 12-18 months. Could this perhaps be the first CDR on the Russian market? (Like our ADR) We would expect a road show in Russia and Europe, listing on the ASE and in Germany and maybe AIM. We would not be surprised if in 2008 the company did close to 400 million with about 17% to the bottom line. The Ice Man loves the risk-reward ratio on NNRF. Dow Stocks News: India's telecommunications services provider Hutchison Essar Ltd. may outsource a $1.4 billion-$1.6 billion information technology deal to U.S.-based International Business Machines Corp. , the Economic Times reported, citing unnamed people familiar with the development. - Marke

Of the four contestants vying to buy the Hutchison Essar,the British telecom giant Vodafone has finally emerged as winner above the Anil Ambani's Relicance communiations and the Hinduja's.On sunday,vodafone,the world's largest player in GSM technologies,acquired Hutchison telecommunications International Ltd 67% stake in Hutchison Essar with a bid of 19$ billion.Official has yet to be made about the acquisition.Vodafone has already extended an olive branch to Essar,which hold the remaining 33% stake in hutch essar,which was also among the bidders for HTIL stake.It would like Essar to continue as its local partner.Essar hasn't yet decided whether to accept the proposal or not.Since existing regulations of the TRAI ,vodafone will have to find another partner.Such a investor would hve to invest 5$billion in the venture to acquire 26% stake mandated ,without getting any manaement control in return.