This new platform is specially targeted at emerging markets like India and Russia and comes as further validation of India's emerging status as a global small car hub.

Sources close to the development have indicated that Nissan and Renault are working on a small car, most likely a B segment hatchback, which is expected to be one of Nissan's flagship models in India. Further details about the new platform were not available.
People close to Nissan say that India may become an important manufacturing hub for the new small car as Nissan is known to be targeting big volumes in its India facility.

Easy availability of finance, increased salaries, higher proportion of double income households, a higher propensity to spend and little improvement in public transportation have led to a boom in India's mini and compact car segments.

The facility would help Hydro S&S to cash in on the expansion plans of automobile majors like General Motors, Mahindra & Mahindra, FIAT and Volkswagen in the vicinity of Pune, a company statement said at the BSE.

Hydro S&S said that this facility will initially have a annual capacity of 6000 metric tonnes, with plans to enhance the same, dovetailed with the capacity increase of the Original Equipment Manufacturers(OEMs).

VGSL, a wholly-owned subsidiary of VSNL, has estimated that it will need to import capital goods worth close to Rs 14 crore for the proposed project. An export turnover of Rs 80 crore has been projected along with positive net foreign exchange earning of about Rs 45 crore.

The Pune facility will support ADP's continued growth, expand ADP India's operational capacity and also serve as a business continuity and disaster recovery centre for ADP India's Hyderabad operations.  

"Expanding ADP India's operations is another milestone in our ongoing offshoring and smart shoring strategy to support our vision for sustained organic growth and margin improvement," said Gary Butler, president and chief executive officer of ADP.  

"In addition to this new facility in India, we have recently announced two new US facilities and will continue to evaluate expansion opportunities aligned with the company's domestic and international growth," Butler added.  

By late 2007, building of the centre will commence, while functioning is expected by 2010. Says Dr B S Ratta, a noted paediatric surgeon who will head the child health services in this hospital, "It was during my training at the Great Ormond Street Children's Hospital at London, the idea to set up a similar speciality in India, in nexus with health consultants from the UK cropped up."

Tanveer Inamdar, CEO, TAIN Constructions, who at present is headquartered at Pune, will set up this super-speciality hospital in technical and medical collaboration with Health Systems Limited, UK, specialist e-Health consultants, with an extensive market knowledge in the US, the UK, Europe and other countries worldwide.

"We are investing $2.5 million in Pune and the headcount at the centre will be increased to 175 from the current 25," said Roy Singham, founder and chairman, ThoughtWorks.  

He said the $100-million company believed in building nuclear centres with a capacity of up to 175 people, rather than setting up mega centres.  

"We are aiming to become a $120-million company by next year, growing at a rate of 20 per cent," he added.  

The 800 people company is mulling a third centre in India by 2008.  

As seen in other parts of the world, biotechnology has immense growth potential in India, but for new companies making a foray into the sector, there is hardly any seed funding available.

To address this gap, the government will soon set up a fund to finance start ups in the biotechnology sector.
"We are negotiating with the World Bank for a loan of half a billion dollars and a part if this will be for early stage funding. This will be on the lines of the TDICI Fund, which was also a World Bank funded initiative for technology entrepreneurs," said RA Mashelkar, director general of Council for Scientific and Industrial Research (CSIR) at the Hi-Tech Pune conference on IT and BT on Friday.

Without taking names, but in an indirect reference to Ajit Pawar, he told the slum dwellers not to fall prey to people who show them dreams that would never come true. Setting the political tone for the upcoming civic elections, Deshmukh made all the right noises by promising all help to the slum dwellers. However, he refrained from making any announcement.

Deshmukh promised to extend the existing 1995 cut off date for rehabilitation of slum dwellers to 2000. He also assured the State Government would work out schemes to rehabilitate resident of slums which have come up on Central government lands after holding discussions with the departments concerned.

The SEZ will be developed as a joint venture with the Maharashtra Industrial Development Corporation (MIDC), and is expected to be fully operational in five years. The MIDC would pick up a 26 per cent equity stake in the project, a state government official told Business Standard.

He said the government's equity would be cashless, in lieu of land and other facilities. The details were yet to be worked out, he added.

The SEZ is expected to attract around Rs 9,000 crore in investments considering its proximity to the Mumbai and Pune airports and the ports at Mumbai and Nhava Sheva.

M&M's Executive Director and President, Infrastructure Development, Arun Nanda, said, "We plan to attract high-end electronic and computer hardware and other non-pollutant industries and are already in talks with some investors from Japan and Singapore." The SEZ is also expected to create 75,000 jobs once it is fully operational.

Nanda said, "If the land acquisition is over by the end of this year, then we expect that it will take around two to two-and-half years to complete the infrastructure development in the SEZ and within five years, it will be completely occupied."

The group is also developing two other SEZs in Chennai and Jaipur. Nanda said the same Singapore-based consultants would also plan the Karla site.

"We will be spending Rs 15 to Rs 20 lakh per acre on infrastructure development. The SEZ is planned on the work-live-learn-play concept and we expect around a third of the workers to live within the SEZ," Nanda said.

A memorandum of understanding to this effect was signed by Nanda and State Industry Secretary VK Jairath, in the presence of Chief Minister Vilasrao Deshmukh, M&M Group Chairman Keshub Mahindra and Vice-Chairman Anand Mahindra.

When asked about the power situation in the state, Nanda said, "We have been assured by the state government of adequate power supply to our SEZ, and besides this, we will also be coming up with a captive power plant."

The Maharashtra Industrial Development Corporation (MIDC) and Mahindra & Mahindra Group (MMG) would be jointly developing a Special Economic Zone (SEZ) at Karla in Pune.
MMG plans to invest Rs 2,000 crore in developing the 3,000-acre SEZ.

It is primarily planned as an industrial-cum-residential zone for MNCs dealing in high-end electronics, computer hardware, information technology and other non-polluting industries. MMG plans to attract Rs 9,000 crore investments in the SEZ to be developed over a period of five years. It would generate employment for about 75,000 people.

This is the third SEZ of the Mahindra & Mahindra Group in the country; the other two being in Chennai and Jaipur. MMG has invested Rs 1,000 crore in the Chennai SEZ.
Addressing media persons after signing of the MoU between MIDC and MMG on Friday, Mr Arun Nanda, Executive Director, Infrastructure Development Group, MMG, said the concept is to create a `plug-in and play' environment for companies where work, residence and leisure are integrated in one area.

Woo investors
MMG hopes to attract investments from electronics and hardware manufacturing export units. Hardware industry needs large quantities of water and the whole region is water-surplus. The region receives about 100 inches of rainfall annually. The site is close to the Mumbai and Pune airports and is connected by the Mumbai -Pune expressway, he said.

Anirudh Dhoot, director of the company, said Videocon, which is promoting SEZs through Videocon Infrastructure Ltd, is looking into the feasibility of making film studios in the multi-product SEZ at Pune besides IT park and housing.

But we need to check whether the government rules on SEZ permits setting up film studios and create housing," Dhoot said.

While Videocon Infrastructure Ltd is planning to invest around Rs 1,000 crore for developing the SEZ, it expects to attract investment up to Rs 15,000 crore, and to create job opportunities for 50,000 people.

Videocon has recently got approval of four multi-product SEZs: two each in Maharashtra (Pune and Aurangabad) and West Bengal (Kharagpur and Kalayanbhil).

These include Bajaj Auto (Aurangabad), Bharat Forge, (Pune), Videocon (Pune and Aurangabad), Shahpoorji Pallonji (Nagpur), India Bulls (Raigad), Wipro (Pune), Syntel International (Pune), K Raheja Universal (Navi Mumbai), Hiranandani Builders (Powai), City Parks (Pune).