CHENNAI: ANOTHER IT ASPIRANT
Article Abstract:
The Tamil Nadu state has received Rs35,000 crore of investments in the last two years. ----------------------------------------------------------- Sector-wise Investments in Tamil Nadu (Rs in crore) ----------------------------------------------------------- Particulars Amount ------------------------------------------------------------ Power generation 20,700 ------------------------------------------------------------ Infrastructure 7,200 ------------------------------------------------------------ Automobile 5,100 ------------------------------------------------------------ Information technology 820 ------------------------------------------------------------ Food processing 200 ------------------------------------------------------------ The state government had finalised and announced its information technology (IT) policy in November 1997. The state is expecting an IT revenue of Rs13,000 crore by 2000 AD. The Electronics Corporation of Tamil Nadu (Elcot) is planning to set up four IT parks (ITPs) in alliance with private companies in Chennai, Coimbatore, Tiruchirapalli and Madurai. Elcot has signed up with Ravichandra Systems, Trident Automation and AGT Electronics to set up an ITP in Madurai at a cost of Rs8 crore. It has set up a single window clearance for the units by appointing an executive authority. (rk)
Comment:
India: Tamil Nadu state receives Rs35,000 crore of investments in last two years
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BNP OPENS 7TH INDIAN BRANCH IN CHENNAI
Article Abstract:
Banque Nationale de Paris (BNP) has inaugurated its seventh branch at Chennai. This is the fifth branch opened by the bank within two years in India. It earlier had branches at Mumbai and New Delhi. The bank also plans to set up branches in north Mumbai, south Delhi and Hyderabad. BNP has started operations in merchant banking and private banking which will complement its core activity of corporate banking. It has also set up an active dealing room and introduced a bond trading desk. The bank has increased its commercial assets by 47 percent to Rs1,700 crore in 1997-98 from Rs1,160 crore in 1996-97. Its total assets have increased by 45 percent to Rs4,200 crore from Rs2,900 crore. (khr)
Comment:
Inaugurates 7th branch at Chennai and is the fifth branch opened by within 2 years in India
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BEST & CROMPTON TO REOPEN FOUNDRIES IN B'LORE, CHENNAI
Article Abstract:
Best & Crompton Engineering Ltd has decided to re-start operations of its foundry at Bangalore. It also plans to reopen its foundry at Chennai after power supply arrangements are finalised with the Tamil Nadu government. The net worth of the ailing company has become positive after getting Rs100 crore through a revival package. It has executed old orders of Rs2-3 crore in the last six months at the same rates quoted three years ago. It also plans to re-start its subsidiaries which have been affected due to want of orders. (khr)
Comment:
Decides to re-start operations of its foundry at Bangalore and also plans to reopen foundry at Chennai
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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