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Business BriefAlstom Bharat Forgeadds Rs 2,251 cr NTPC order

Ahmedabad,Alstom Bharat Forge (ABFPL) today bagged an

order worth Rs 2,251 crore from state-owned powerproducer, NTPC. ABFPL is a joint venture betweenBaba Kalyani controlled Bharat Forge and Frenchequipment major Alstom. It is setting up an initialinstalled capacity of 5,000 megawatts.

The order is to supply three units of 660 mega-watts power project to at Nabingar, a joint venturebetween NTPC and Bihar State Electricity Board(BSEB). The order is for engineering, manufactur-ing, supply, erection and commissioning of this coalfired, super-critical turbine generator islands.

This is the second order that ABFPL won fromNTPC. In April last year, it won a Rs 1,570 croreorder from NTPC to supply two units of 660megwatts coal-fired supercritical tubine and gen-erator sets, for its Solapur power project inMaharashtra.

Solapur and Nabinagar orders form a part ofNTPC’s bulk tender in 2011, in which ABFPLemerged as the lowest bidder. As the Nabingarproject raised loans and achieved financial closure,the order has been counted as a part of its books.

Max Life InsurancePBT up 15% in April-December 2012

Ahmedabad,Max Life Insurance reported a 15 per cent rise

in profit before tax (PBT) at Rs 657 crore in thefirst nine months (April-December) of the currentfiscal.

The private life insurer’s PBT stood at Rs 572crore in the corresponding period of last fiscal.

Total revenue of the company has increasedby 2 per cent to Rs 4,560 crore by the end of De-cember quarter.

“Though the market continues to remain chal-lenging and uncertain, we have responded ex-tremely well..,” Max Life Chief Executive and Man-aging Director, Rajesh Sud said.

He said the company was confident of a sus-tained profitable growth in the future.

According to the company, its assets undermanagement (AUM) increased 31 per cent to Rs20,080 crore in the period under review over thecorresponding period last fiscal.

The Total Revenue for 9M FY 2012-13 in-creased by 2% to Rs.4,560 crore with a marginaldecline in new business premium to Rs.1,022 croreand the renewal premium recording a growth of3% to Rs.3,276 crore. The Company’s conserva-tion ratio at 78% is testimony to its commitmenttowards customers. Our 13th month persistencyat 78% is also amongst the best in the industry.

DisclaimerAdverstisement appeared in thisNews Paper have not beenverified factually and“WESTERNTIMES” does notstand responsible for the salesproposition.

NMDC looking to acquiremore overseas assets

Hyderabad, Sitting on cash reserves of Rs.22,000 crore,

National Mineral Development Corporation,India's largest iron ore producer, is looking toacquire more assets overseas.

C.S. Verma, NDMC chairman and managingdirector, told reporters here that they were look-ing into various proposals for acquisitions includ-ing four proposals for coal and another three tofour iron ore assets.

"These are opportune times. We are lookinginto various proposals and depending on themerit of each case, we will take a view," he said.

Verma, however, declined to give any timeframe to complete the acquisitions, saying theywere not in a hurry.

He said NDMC was also looking at overseasacquisitions through Legacy Iron Ore, an Aus-tralian company in which NDMC bought 50 per-cent stake.

The public sector miner as an active partnerof International Coal Ventures Limited is lookingto acquire various coal assets in different coun-tries. To another query, Verma said NMDC wastrying to operationalise the licence it got for agold mine in Tanzania.

Recovery in sight, saysBritain's central bank gover

London, Britain's central bank

governor has said thecountry's economy is setfor a recovery but the roadahead will not be smooth.

Services and manu-facturing, which make upthe bulk of the Britisheconomy, had grown by1.2 percent during 2012,close to a 1.5-percentgrowth in the US and con-siderably stronger than inJapan and the eurozone,Mervyn King said at apress conference.

The weakness in over-all output largely reflectedsharp falls in the construc-tion sector, which is "un-likely to be repeated in2013", Xinhua quoted himas saying. "Growth islikely to be weak in the

near term," the Bank ofEngland governor said,adding that both domes-tic and overseas demandare weak.

The Brit ish centralbank said in its monthlyreport that inflation wouldremain above the bank'starget of two percent inthe next two years, andwill probably rise to threepercent by this summer.

In its previous reportreleased in November,the bank forecast the in-flation to drop back to twopercent in the second halfthis year.

Attempts to bring infla-tion back to target soonerwould risk "derailing therecovery", King said.

Analysts said the bankcontinued to prioritise the

goal of "supporting theeconomic recovery" to"controlling inflation" amiduncertain economic pros-pects.

The Bank of Englandhas kept benchmark in-terest rate at a record lowof 0.5 percent for overthree years now and haslaunched a series ofquantitative easing mea-sures totalling 375 billionpounds ($582 bi l l ion)since the outbreak of thefinancial crisis in 2008.

Britain's gross do-mestic output contractedby 0.3 percent in thefourth quarter of 2012,triggering worries that theeconomy would return torecession if the first quar-ter saw contractionagain.

WESTERN TIMES, AHMEDABADFRIDAY, FEBRUARY 15, 2013

CHANGE OF NAMEI have changed my name from

LUHAR DINESHKUMARODHAVJI to new name

PANCHAL DINESHODHAVJIBHAI. Add.: RowHouse No. 6/3B, Shyamal

Row House, Satellite,Ahmedabad-380015.

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Ahmedabad-58.....8013

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SUSHRUSHA RAMESHCHANDER AGGARWAL tonew name BHAVNA MOHITGUPTA. Add.: 401 MangalyaFlat Maninagar, Ahmedabad.

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Vraj Vihar-8, Satellite,Ahmedabad-15

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SHARMA ANJALI GAURANG.Add.: Type-3, Block-52/1,

G.S.E.C.L. Colony,Gandhinagar-382041.

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Vatva, Ahmedabad.....8021

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Add.: A/6, Happy Home Apt.,Maninagar, Ahmedabad-8.

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SHEVAKRAMANI. Add.: B/58,Ashok Tenament, Ghodasar,

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PATEL PADMABENHASMUKHBHAI. Add.: At,Rampura, Kakanpur, Ta.

Godhar, Dist. Panchmahal..C041

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from SHAH GAURAVGIRISHBHAI to new name

JGETIA GAURAVGIRISHBHAI. Add.: 9/C, Modh

Champaner Society,Usmanpur Gam, Ahmedabad.

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Keshav Park, Vastral,Ahmedabad.

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PATEL SHOBHABENARVINDBHAI. Add.: B-26,

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Rampark Society, Modasa,Dist. S.K.

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MISTRI JAGNNATHMAGANLAL to new nameSUTHAR JAGDISHBHAIMAGANLAL. Add.: G-1,

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Myanmar, India tospeed upconstruction projects

Yangon,Myanmar and India will

speed up implementationof some constructionprojects, the official dailyNew Light of Myanmar re-ported Thursday.

This was discussedwhen Myanmar PresidentU Thein Sein met India'sLok Sabha Speaker MeiraKumar in Nay Pyi TawWednesday, reportedXinhua. Their discussionscovered implementation ofKaladan project, earlycompletion of India-Myanmar-Thai highwayconstruction, accelerationof the repair work of Moreh-Tamu-Ka lay-Ka lewa-Mandalay road and reno-vation of Lido Road built inWorld War II. India is imple-menting the Kaladanmultimodal transportproject that involves up-grading the Sittwe port inMyanmar and constructinga highway to connect thetown of Paletwa in Chinstate to the Indian borderin Mizoram state. Besides,effective cooperation forensuring peace and stabil-ity in border region, furthercooperation in ICT andother sectors between thetwo countries and cement-ing bilateral friendship werealso focused in their talks.