Joint venture formed for Chandigarh international airport

September 27th, 2009 CHANDIGARH - Chandigarh airport's only Instrument Landing System (ILS), used for the safe landing of flights in case of poor visibility due to bad weather or fog, has been out of order for the last few months. Airport authorities say it will take four-five months to replace it.

September 24th, 2009 KOLKATA - The state-owned Balmer Lawrie, which has diversified business interests such as tea, industrial packaging and grease and lubes, plans to set up a $5-million lubricant and grease plant in Indonesia in a joint venture. Balmer Lawrie formed the joint venture with Imani Wicaksana of Indonesia for the project, which is likely to come up within a year.

August 27th, 2009 Fluor completes joint venture project in KuwaitIRVING, Texas — Fluor Corp. completed a multibillion-dollar project for a joint venture with Dow Chemical Co.

July 28th, 2009 KOLKATA - Financial services company Magma Fincorp Ltd has signed a joint venture agreement with Germany-based HDI-Gerling International Holding to foray into the general insurance segment in India, a top official said here Tuesday. "The total investment in the insurance company would be around Rs.100 crore where the foreign partner will hold 26 percent stake," Sanjay Chamria, vice-chairman and managing director of the city-based Magma Fincorp, told reporters.

July 23rd, 2009 KOLKATA - KK Birla group company Texmaco Ltd is in the last leg of finalising a joint venture with three Japanese companies led by Kawasaki to make Metro rail coaches, a top official said here Thursday. Texmaco will be part of the alliance through its newly formed 50:50 joint venture with the United Group of Australia.

July 15th, 2009 CHANDIGARH - Chandigarh will come on the international aviation map from August, said a top Punjab government official here Wednesday. "International flights from here will begin in August.

July 9th, 2009 CHANDIGARH - Hoping to put Chandigarh on the international flight map, Punjab Chief Minister Parkash Singh Badal has written to Defence Minister A.K. Antony for his intervention in getting Indian Air Force (IAF) authorities to permit Fly Dubai to begin operations.

July 2nd, 2009 NEW DELHI - GeoPost, the express parcel arm of French postal service provider Groupe La Poste, and India's Continental Air Express Thursday announced a joint venture to offer domestic and international parcel services to Indian customers. The Foreign Investment Promotion Board (FIPB) recently approved the joint venture, DPD Continental International, in which GeoPost will hold a 60-percent stake.

June 29th, 2009 CHANDIGARH - Travelling abroad from Punjab and Haryana will not mean travelling to Delhi anymore with Chandigarh airport being upgraded to an international airport. The first flight for Dubai will take off July end.

June 8th, 2009 NEW DELHI - Three companies that run popular food and beverage outlets like Copper Chimney, Costa Coffee and Pizza Hut have been awarded contracts to set up shop at the upcoming Terminal 3 at the international airport here. "Following a tender process, the successful bidders with Delhi International Airport Ltd (DIAL) will develop, operate, maintain and manage food and beverages outlets at Terminal 3, said GMR, which heads the consortium that is upgrading the airport.

February 28th, 2009 HYDERABAD - A GMR-led consortium that operates the city airport, and MAS Aerospace Engineering, a wholly-owned subsidiary of Malaysia Airlines, have floated a 50:50 joint venture to set-up a maintenance, repair and overhauling (MRO) facility here. 'The JV company named MAS-GMR Aerospace Engineering Company Ltd will be built on the eastern side of the Rajiv Gandhi International Airport,' a joint statement issued by the companies said Friday.

February 16th, 2009 NEW DELHI - Textile major Brandhouse Retails has signed a joint venture agreement with Italy's leading apparel brand Oviesse to open 190 stores in India at an investment of Rs.1.61 billion (Rs.161 crore) over a period of five years, it was announced Tuesday. Brandhouse will hold 62.5 percent stake in the joint venture, while Oviesse will own the balance 37.5 percent.

February 16th, 2009 NEW DELHI - The government has approved the formation of separate joint venture companies between National Aviation Co of India Ltd (NACIL) and Singapore Air Terminal Services (SATS) for cargo and ground handling activities at various airports, an official statement said. NACIL, which also owns Air India, has already bagged contracts for three projects, to be executed with SATS - a Rs.99-crore (Rs.990 million) cargo handling contract and a Rs.73-crore (Rs.730-million) ground handling contract from Bangalore airport authorities, apart from a Rs.80-crore (Rs.800-million) ground handling contract from the Hyderabad airport developer.

February 10th, 2009 NEW DELHI - The government Wednesday approved a joint venture between the Airports Authority of India (AAI) and Maharashtra Airport Development Co (MADC) - promoted by the Maharashtra government - for developing the Nagpur airport as a multi-modal international passenger and cargo hub. The government in a statement said AAI, India's airports operator, would hold 49 percent while MADC will have a 51 percent equity in the joint venture.

February 4th, 2009 NEW DELHI - The government Thursday approved a proposal to set up two greenfield electric and diesel locomotive factories in Bihar at an estimated investment of Rs.20 billion (Rs.2,000 crore). The factories will be set up in Madhepura and Saran districts as a joint venture between Indian Railways and an international manufacturer.