“The financial markets generally are unpredictable. So that one has to have different scenarios... The idea that you can actually predict what's going to happen contradicts my way of looking at the market.”

Friday, February 22, 2008

Daily News - 22/02/2008

RCom goes global, buys Uganda co
Reliance Communication’ (RCom), the country’s second largest wireless operator, has acquired Anupam Global Soft Ltd a telecom firm in Uganda and will spend Rs 2,000 crore($500 million) over the next five years in establishing a high quality, fully-IP enabled integrated telecom network to capture the significant growth potential in this emerging African market. This marks RCom’s foray in the international mobile services market. RCom, through the target firm’s licences, would offer mobile, fixed line, Internet, long distance, Wimax and Wi-Fi services in Uganda. Financial details were not provided as of now, but, according to industry sources, the total deal size is likely to be higher than the $211 million for FLAG and $300 million for Yipes.

Alstom Projects India Ltd (APIL), a subsidiary of Alstom SA France, has bagged exports orders worth Rs 592 crore. The company has received two orders -- a Rs 242-crore order for Fujairah independent water and power plant, Fujairah, UAE, and Rs 350-crore order for Bujagali hydro electric power station at Jinja in Uganda. Alstom Projects will supply heat recovery steam generator (HRSG) for Fujairah plant, one of the largest desalination plants in the world.

Larsen and Toubro Ltd has been awarded an engineering, procurement and construction (EPC) services contract by Cairn India for crude oil insulated pipeline and gas pipeline from Barmer (Rajasthan) to Salaya (Gujarat). The work involves laying across-country 24-inch skin heat traced pipeline from the Mangala terminal at Barmer (Rajasthan) to Salaya Oil Export terminal, near Jamnagar. However the amount of order could not be ascertained. • Simplex Infrastructures Ltd has bagged orders worth Rs 302 crore for the construction of six flyovers on Seeb Corniche Road in Muscat. The project is to be completed in 24 months. The company after spreading its wings to construction business in Qatar and the UAE has now bagged its first order from Oman. The order book now stands at Rs 9,500 crore.

No comments: