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JNPT & MMB ink MoU for Vadhawan port in Maharashtra
- .Jawaharlal Nehru Port Trust (JNPT) and Maharashtra Maritime Board (MMB) have signed an MoU for the construction of green field port at Vadhawan in Thane district. The new port will have a capacity of over 60 million tonne per annum.
- The project involves an investment of Rs 6,000 crore, out of which JNPT will have 74% share while the remaining 26% will be balanced by MMB.
- This new port, whose foundation stone will be laid in December, will be used for the transportation of high quality coal in the Nashik and Bhusawal power generation plants run by the MahaGenco, among other purposes.The port development is expected to be complete in two years.
- The location is clear of fishing activities, and also has deep water depth contour of more than 20 meter which is a mere 4.5 nautical miles from the coast.
- The union minister for ports and shipping : Nitin Gadkari
Solar power capacity touches 4,000 MW, Rajasthan races ahead of Gujarat
- India has crossed the 4000 MW mark in the total installed solar capacity.
- Maharashtra and Tamil Nadu are following closely. Some new states such as Uttar Pradesh, Punjab and newly formed Telangana are also joining the elite solar power generating group.
- India is likely to add 1.7 GW by the end of December, according to a study made by, a leading consultancy firm, Bridge to India – monitoring foreign investment in Indian renewable energy space. With 2.7 GW of expected capacity addition in 2015, India will likely surpass Germany and reserve a global top 5 spot for new yearly capacity addition.
- Senior Manager- Consulting at Bridge to India : Jasmeet Khurana
- India needs to add close to 15,000 Mw every year to meet 1 lakh MW target by 2022.
Fortune released 61st edition of list of top 500 companies
The 61st edition of the annual list of top Global 500 companies was released by Fortune Magazine. Retail chains goliath – Walmart topped the list, with total revenue of $ 485.6 billion. It was followed by Exxon Mobil, Chevron and Berkshire Hathaway at the 2nd , 3rd and 4th position respectively. Mobile-maker giant Apple, settled in on the 5th spot.
- The top five spots of 2015 list remains unchanged from that of 2014 and Apple was the most profitable company with an annual profit of $ 39.5 billion followed by Exxon Mobil ($ 32.5 billion).
- Facebook witnessed the highest leap in rankings (from 341 to 242). Some of the new players to enter the list includes : Salesforce.com, Netflix,Expedia.
- Microsoft, Google, IBM, Intel and Oracle are some of the companies, who are included in the top 20 in terms of profit but not in terms of revenue.
- The total revenue of the Fortune 500 companies increased by 2.6 percent in 2014-15. The total profits however were down by 12.6 per cent to 945 billion US dollar. These Fortune 500 companies report for $ 12.5 trillion in revenues, $ 945 billion in profits, $ 17 trillion in market value, alone. They employ 26.8 million people worldwide.
Volvo India appointed Tom von Bonsdorff as Managing Director
- Tom von Bonsdorff is the new Managing Director of Volvo Auto, India replacing Tomas Ernberg, who is being posted back to Sweden for a new role.
- Bonsdorff is the Market Area Director, Asia Region presently. He has a career of 17 years in Volvo, working in various operational and managerial positions in countries like US, Sweden and Finland.
- Volvo Auto India sells five luxury models —— Volvo S80, Volvo S60, Volvo XC60, Volvo V40 Cross Country and Volvo XC90 in Indian market presently.
- Volvo Cars Group, Vice President, Asia—Pacific : Jari Kohonen