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Tuntari
Kurra Bewarse
Username: Tuntari
Post Number: 938
Registered: 09-2004
Posted From: 192.127.94.7
Rating: N/A
Votes: 0 (Vote!) | | Posted on Thursday, January 13, 2005 - 3:25 am: |    |
oka important work vundi.. 3 pm ki ichina build inka running.. its 130 am. have to wait until it finishes  |
Megamama
Vooriki Bewarse
Username: Megamama
Post Number: 3860
Registered: 07-2004
Posted From: 12.47.98.180
Rating: N/A
Votes: 0 (Vote!) | | Posted on Thursday, January 13, 2005 - 3:22 am: | |
THunti
inka thongoleda neevu
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Tuntari
Kurra Bewarse
Username: Tuntari
Post Number: 937
Registered: 09-2004
Posted From: 192.127.94.7
Rating: 
Votes: 1 (Vote!) | | Posted on Thursday, January 13, 2005 - 3:21 am: | |
Kudo's to previous and current state governments for making it happen 
VW set to vroom into Vizag
Hyderabad, Jan. 12: It is official! The German car giant Volkswagen has informed the State government that it will set up its manufacturing unit in Visakhapatnam. The ground-breaking ceremony is likely to take place in the last week of January. The VW decision was confirmed to the State government on January 7 by Helmuth Schuster, head of the VW India project and member of the board of Skoda Auto.
Following a VW offer, the State government has turned a three-per cent stake-holder in the project which will manufacture cars and light commercial vehicles. The Andhra Pradesh Industrial Infrastructure Corporation will represent the government in the new Indian incorporation of VW and will invest Euro 5 million (approximately Rs 28.8 crore). “The APIIC will immediately deposit Rs 25 lakh and will invest the rest in phases after the Memorandum of Understanding is signed. This is expected to take place after the January 17 general body meeting,” APIIC vice-chairman and managing director L V Subrah-manyam told Deccan Chronicle.
Principal Secretary, Industries, K V Rao issued Government Order Ms No. 12 on January 10 to make the APIIC the State’s representative and directed it to release and remit funds towards the equity. Schuster wrote that VW would have a minimum 51 per cent stake and offered that the government could consider a nominal equity position in the project, which can be redeemed at the discretion of the government.
He also wrote that the project should be implemented immediately. The Principal Secretary replied immediately, (Letter no 11604/IP/A/2002) and confirmed the government’s willingness to become a stake-holder. The company has changed its earlier plan of setting up a unit to manufacture light commercial vehicles near Hosur in Tamil Nadu. This came about thanks to the initiative of then Major Industries minister K Vidyadhar Rao of the previous Telugu Desam government, who after one of his trips to the German plant, made the government assure that it would purchase 50 ambulances worth Rs 50 lakh each.
Major Industries Minister Botsa Satyanarayana, however, is believed to have suggested that the amount to be spent on ambulances could be converted in to equity which will have a long term benefit. The government finally decided to become stake holder in the company.
source: deccan.com |
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