Renault and Iran enter into one of the biggest ever car deals, to produce 150,000 cars
The Dollar Business Bureau French car maker Renault and Iran signed a mega JV on Monday in the presence of the Iranian Industry Minister, Mohammedreza Nematzadeh. The JV could change the tide of the car maker in the oil rich Middle eastern country. Many Western companies have made a beeline to do business in Iran with the lifting of the sanctions. The joint venture was signed between Renault and Industrial Development & Renovation Organization of Iran (IRDO). Renault will be the majority shareholder holding 60% of the shares, with IDRO and another private player Parto Negin Naseh taking up 20% each. The production of the cars will begin in 2018, with both the parties agreeing to set up an engineering and sales centre ...
We are going to bring in a policy to promote use of alternative fuel: Gadkari
The Dollar Business Bureau With a view to bringing down logistics cost and pollution levels, the Government has decided to bring a policy for promoting the use of alternative fuel, Road Transport and Highways Minister Nitin Gadkari said on Thursday, while adding that the logistics cost is quite high in India when compared to China and European countries. “We are going to bring in a policy to promote use of alternative fuel which is indigenous and pollution free as it will help in saving lot of time, bring down logistics cost by 4-6% which is currently about 14-18% unlike in China where it is 10-12% and in European countries where it is 12-14%,” Gadkari said, while inaugurating an event organized by ASSOCHAM in New Delhi. The minister ...
India to lend Kenya $45 mn for industrial development
The Dollar Business Bureau India to provide $45 million Line of Credit to Kenya to help in developing a textile unit and other small industries, the leaders of two nations said on Monday. Prime Minister Narendra Modi and Kenyan President Uhuru Kenyatta have signed seven trade agreements. The two agreements, part of the seven deals signed, were a Line of Credit pact for $15 million to Kenya’s Industrial Development Bank Ltd (IDB) for the development of small scale and medium enterprises (SMEs) and an agreement of Line of Credit for $29.95 million to revive the Rift Valley Textiles (Rivatex) factory in Kenya. “The ties between the two countries are rich and long-standing. The multi-faceted partnership for development is a major pillar of our bilateral ties. ...
Govt invites proposals to revive sick industries
The Dollar Business Bureau In a move to promote industrial development, the government on Wednesday assured of taking serious measures for the revival of sick industrial units in the country. Anup K Pujari, Secretary, Ministry of Micro Small and Medium Enterprises (MSME), called upon people to come up with proposals seeking financial support to revive stalled units. “Government is willing to extend help and financial support to people who come up with an idea to revive industrial units that have turned sick,” he said. Not only the stranded units, but the companies with good business proposition and weak execution were also called up to come up with revival proposals. The official was speaking at a conference on ‘Profit Re-Engineering’ ...
