Maruti to launch automatic transmission variant A-Star
12 August 2010;deccanherald.com:New Delhi: The country's largest carmaker Maruti Suzuki India today said it will launch a new variant of its compact car A-star with automatic transmission early next week, as it bids to strengthen its hold over Indian car market. "By early next week, we will be introducing the automatic transmission (AT) variant of the A-Star. We see a growing market for the automatic transmission cars in India, as traffic congestion is increasing by the day resulting in driver fatigue," Maruti Suzuki India Chief General Manager- Marketing Shashank Srivastava told PTI. He, however, declined to share the price of the AT variant of the A-Star, saying it will be decided next week. The A-Star is currently available between Rs 3.59 lakh and Rs 4.23 lakh (ex-showroom Delhi). The new A-Star will be the second model from MSI's stable after SX4 to have the AT variant. The SX4 AT variant is priced at Rs 8.33 lakh, compared to the normal version tagged between Rs 6.91 lakh and Rs 7.67 lakh (ex-Showroom Delhi). At present, SX4 AT sells about 6-8 per cent of the total of about 2,000 units per month clocked by the sedan. Launched in November 2008, the A-Star has so far sold around 85,000 units, Srivastava said, however, adding it will be too early to ascertain how much increase in sales could be expected after the launch of the AT variant. In the past MSI had tried introducing AT variant in its Zen model, but discontinued it due to lack of demand. "Our reading is that the market for AT cars is gradually growing in India as congestion on the roads has increased. The market will continue to grow," Srivastava said. Asked if MSI will also introduce the AT variants in other models as well, he said: "First we need to study the customer response to the A-Star AT and then we will take a call."
Maha mulls Formula 1 racing track along Mumbai-Pune expressway
12 August 2010;business-standard.com:Sanjay Jog:Mumbai: The Maharashtra government is planning to build a motor racing circuit capable of hosting Formula One races. State-run Mumbai Metropolitan Region Development Authority (MMRDA) – an agency responsible for planning and implementing development projects – is working on the proposed track on 700 acres along the Mumbai-Pune expressway. The racing track could be developed with private partnership if all goes well. A state government official, who did not want to be quoted, told Business Standard that the project was at the discussion level. “MMRDA plans to first hold a meeting with interested parties on August 17 to take the idea forward. The proposed site along the 93-km Mumbai-Pune expressway is ideal. However, the final site will be decided on after taking into account suggestions from those interested in investing in the project.” The official said the agency would soon engage a consultant to develop the project. “The consultants will suggest whether or not the project is feasible. We have also got to discuss how the project should be structured if the private sector is involved. The cost of the project will be announced once the consultants submit their report.” If the Maharashtra government decides to set up the motor racing track, this would be the second such facility in the country following the Uttar Pradesh government’s decision to construct a racing track near Greater Noida. In October 2007, the Fidiration Internationale de l’Automobile had signed a Rs 1,600 crore contract with JPSK Sports Private Limited to organise an F1 race in India. It is expected to be completed by April 2011. The track will have a length of 5.5 km and an area of 4,000 hectares. Seating capacity is expected to be 200,000.
12 August 2010;hindustantimes.com:Anupama Airy: Even as Mumbai fights the after-effects of an oil slick from two ships colliding, HT has learnt a greater threat to the city’s coast was avoided in the nick of time — twice. A sub-sea gas pipeline, owned and run by British Gas, has repeatedly leaked. The latest leakage happened on July 20 this year. The last leak occurred almost exactly a year ago. Both times, the leakage was spotted and stopped. Aware of the disastrous consequences of the recent oil spill in the US, Indian authorities are not taking any chances and have pulled up British Gas. The multinational operates the Panna-Mukta oil and gas fields. The economic loss is already hurting — the latest oil spill has cost British Gas, along with Reliance Industries and ONGC, the other developers, an estimated Rs 600 crore. Oil Industry Safety Directorate (OISD) — a government body responsible for laying down safety and security norms for oil and gas installations in the country — has sought an explanation, asking British Gas to take strict measures to prevent such leakages in future. “We have reviewed the first incident report and find that strict preventive measures need to be at place to avoid recurrence of such incidents,” a July 30 OISD letter to British Gas India’s Exploration Head Peter Thompson said. “Investigations are on to find what went wrong,” a senior British Gas official said. “The rough seas have delayed fixing the problem.” A senior ONGC official pegged the loss at Rs 18-20 crore per day and said a fault in the hose assembly of the sub-sea pipeline carrying oil from the Panna-Mukta fields had resulted in the oil spill.
11 August 2010;economictimes.indiatimes.com:NEW DELHI: Reliance Industries plans to reopen all of its fuel stations in the country and is currently selling petrol and diesel at the same rates as state firms, a company statement said on Wednesday. Reliance, which operates the world's biggest refining complex at Jamnagar in Gujarat, shut down its petrol pumps in 2008 as crude prices surged towards $150 a barrel. At the time the Indian government subsidised fuel sales by state firms, knocking private retailers out of the market. "If the government announces diesel deregulation then diesel, like petrol, will also be available at market rates. Further to this Reliance will resume operations across all pumps, pan India," the Reliance statement said. Retail sale of petrol and diesel are again viable since the end of June when the government lifted all controls on petrol and raised administered prices of other fuels including diesel. Reliance owns more than 1,400 fuel stations in India. The government plans to free diesel prices also, but the deputy chairman of the Planning Commission said in an interview the government would set diesel rates for the next few months. Essar Oil, the only other private refiner in India, and Reliance had together captured about 17 per cent of domestic retail market for diesel and accounted for 10 per cent of petrol sales by 2005 before they were forced to shut down their pumps. "Now, with the deregulation of petrol, there is a level playing field and Reliance petrol will now be sold at the same price as that of the other oil companies," the statement said.
11 August 2010;hindustantimes.com:Petroleum Minister Murli Deora today dismissed reports of diminishing oil stocks in Mumbai due to non-operation of ports after the oil spill off the coast of the metropolis. "There is no problem at all anywhere. There is enough (oil stock) to last till this oil spill is cleared," Deora told reporters outside Parliament reacting to reports of probelms in oil supplies. Deora said his ministry officials told him today that there were "no fears" of disruption in oil supplies. "There is enough stock and all refineries are fully prepared to meet the situation," he added. The Mumbai port and the Jawaharlal Nehru Port Trust are closed to cargo traffic after the oil spill off the coast due the sinking of MSV Chitra.
RIL begins selling petrol at same rate as PSUs in Gujarat
11 August 2010;hindustantimes.com:Ahmedabad:Mukesh Ambani-led Reliance Industries Limited today said its petrol pumps across Gujarat have begun selling the fuel at the same rate as that of oil PSUs, following the decontrol of petrol pricing. "RIL's 162 petrol pumps across Gujarat have resumed operation today and have begun selling petrol at the same price as that of PSU oil companies," a company spokesperson said. Of the 162 petrol pumps in Gujarat, 103 are company-owned-dealer-operated (CODO) and dealer-owned-dealer-operated (DODO), while 59 are company-owned-company-operated (COCO), he said. According to the RIL spokesperson, the company was earlier at a disadvantage as it was not given the government subsidy that allowed the oil PSUs to sell petrol at lower prices. "With the decontrol of petrol pricing, there is a level playing field and our petrol will be sold at the same price as that of other oil companies," he said. RIL had closed down two-thirds of its petrol pumps across the country in 2008, when prices of crude oil shot up and petrol sales from its outlets became uneconomical due to higher prices compared to the PSU oil companies. In June, the government had decontrolled petrol prices, causing a hike of Rs 3.5 per litre, and increased diesel rates by Rs 2 a litre, LPG by Rs 35 a cylinder and kerosene by Rs 3 a litre.
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