The number of Australian Joint ventures
in India that were approved during the period August '91 to
December 2001 was 417. Of these 276 collaborations were financial
and 141 technical.
According to accumulated total of approvals upto December
2001, Australia ranked as the 8th largest source of foreign
investments in India.
|Source: SIA & Indian Investment
There were 31 approvals granted in 2001 with a cumulative
value of Rs 843.8 million. In the year 2000, 32 approvals
were granted with the total value being Rs 616.95 million
(A$ 24.6 million*). The largest amount invested in India for
Australian joint ventures during any calendar year since 1991
was in 1998 when approvals granted were valued at Rs 26,377.2
million (A$ 1055 million* ).
The total value of Australian investments in India during
the period August 1991 to December 2001 was Rs 67013.2 million
(A$ 2680.5 million at the exchange rate of 25 Rs /A$* ) million.
This accounts for 2.44% of the total approved investment from
· Lexmark Asia Pacific obtained approval to establish
an evaluation unit for software and development for Lexmark
products world wide.
· BHP petroleum is to set up a joint venture company
with Kakinada Energy Pty Ltd to develop, construct, own and
operate a liquid fuel terminal.
· Australia New Zealand banking Group has obtained
approval to set up a subsidiary to undertake merchant banking,
project finance, corporate finance and other financial advisory
· M/s Clough Ltd., an Engineering and Construction
Company, has won a US$ 44 million (A$86 million) share of
an oil and gas contract off India's west coast. A consortium
of Clough Engineering and South Korea's Hyundai Heavy Industries
awarded the US$80 million contract to develop the Lakshmi
field for joint venture partners Cairn Energy India Pty. Ltd.,
Oil and Natural Gas Corporation Ltd. and Tata Petrodyne Ltd.
The field is in the Gulf of Cambay, 260 km north of Bombay.
|Source: SIA & Indian Investment
· AMP Australia, one of the world's largest infrastructure
investment fund, which manages about $200-billion investments,
is acquiring close to 4% equity stake in Gujarat Pipavav Port,
India's first private sector port. It is understood that AMP
and GPPL have
already finalised the stake acquisition deal at a price of
a little over Rs80 a share. The stake acquisition will cost
AMP a total of about $12 million (close to Rs.60 crore). The
equity investment by AMP is to be used for part-funding the
second phase expansion of the Pipavav port, located at the
western cost of Gujarat. The second phase expansion of the
port will include construction of an additional terminal and
installing container cranes (quay cranes) at the port.
· Chennai-based Sanmar group has signed an agreement
with AMP (Australian Mutual and Prudential) Ltd of Australia
for starting an insurance company in India. The new company,
AMP Sanmar Assurance Co. Ltd., will be based in Chennai and
will initially focus on the life insurance business. The venture
is reported to kick off in the next 4-6 months, provided all
the approvals are obtained by that time. The investment in
the venture would be around Rs.100 crore, with the Sanmar
group holding 74% and AMP 26%. AMP is Australia's largest
international financial service business providing wealth
creation and protection products and services to around 10
million customers worldwide. It manages assets of about $
· AMP is also partner with UTI in asset management.
The two companies launched an infrastructure fund for bringing
in offshore funds of A$ 500 million for infrastructure sectors.
· India's Oswal Group would construct an A$ 600 million
ammonia plant at Karratha close to North-West Shelf project
(Western Australia). Most of its di-ammonium phosphate (DAP)
fertiliser production, which is likely to start next year
subject to final Government approvals etc. are granted, would
be sold to India. It is estimated that this plant would produce
700,000 tonnes fertiliser a year, which would be the largest
ammonia facility in the world and would generate export earnings
of A$ 200 million a year.
ACC / Rio Tinto Minerals have set up and exploration company
to undertake exploration of minerals including not limited
to Gold, Silver, Diamonds, Copper, Lead, And Zinc
· Satyam Computer Services opened its Sydney Software
Development Centre in November 2001 This was inaugurated by
the Minister for Financial Services and Regulation, Mr. Joe
Hockey. In the presence of Mr Rathore, High Commissioner of
India and the Chairman of the Satyam Computer Services, Mr.
B. Ramalinga Raju.
· Australian Indian Resources' subsidiary Rama mines
is ready to commence drilling on its granted mining leases
near the Kolar Gold Fields. AIR's other licences in India
approved include parts of Goa prospective for Chromite, nickel
and platinum group metals, a potential zinc resource in Maharashtra
State and areas around the Wairagarh diamond field.
· Two Australian companies Leverage and Asia Pulse
have decided to launch operations in Chennai for Intellectual
Property - related work like market research, contact aggregation,
data research, integration and analysis.
· Air International and Australian air conditioning
designer and manufacturer has won a contract to supply systems
to India. Air Intl will design and supply 480 high capacity
rail car air conditioning systems and 120 driver cabin A/C
systems. The deal is worth A$ 20 million over three years.
· The P&O Ports offer for development of a container
terminal at the country's busiest port has been accepted.
The Board of Trustees of Kandla Port Trust has awarded the
Rs.300 crore project on build, operate and transfer (BOT)
basis to the Australian company. The Board, however, has reportedly
deleted the monopoly clause from the concessional agreement.
· The Reserve Bank of India has conveyed its approval
for upgradation of the State Bank of India's Sydney Representative
Office into a full-fledged branch. The project now awaits
formal clearance by the Australian authorities. SBI's Representative
Office in Sydney was established in November 1998. The upgradation
would greatly help in business-transactions between the two
· ABL organised a successful trade mission to India
recently led by Department of Industry Science and Resources
(DISR). It visited Mumbai, Chennai, New Delhi and Hyderabad
and produced a number of significant outcomes for Australia's
environmental industries. Seminars and meetings held in each
city enabled ABL's Indian counterparts to appreciate what
Australia offers by way of cost-effective, sustainable solutions
in areas such as waste water treatment and water conservation,
waste management, clean air technologies and renewable energy.
Some notable outcomes attributable include:
a. An MOU between Andhra Pradesh and Queensland promoting
collaboration on environment projects;
b. A demonstration project being established in Mumbai in
cooperation with the Municipal Corporation of
Greater Mumbai to showcase drainage management systems.
c. Proposals to provide a Solar Mass Conversion Water System
for treating brackish ground water for a community of 320
families and a water recovery and effluent treatment plant
for a tannery in Tamilnadu, with funding to be provided by
the UN Industrial Development Organisation.
||P & O Australia
|BHP Co Ltd
||JNA Telecommunications (Lucent)
||S M E C Ltd
||John Holland Group
||Southern Pacific Hotels
||Village Road Show
|CMPS & F Pty Ltd