India's iron ore wealth to last for 200 years

Seeking to allay apprehensions of steel industry on iron ore availability, the Mines Ministry on Thursday said the country has enough ore to last for 200 years and mineral-rich states would not lose their say on allocation of mines in the New Mineral Policy 2008.

"The country has enough iron ore to last for 200 years. The steelmakers should adopt technologies to be able to use ore grade below 55 per cent Fe. If you come up with right technologies then you could conserve ore in right perspective," Mines Secretary J P Singh said here.

He said India is the only country where captive mining is encouraged and of the total output in the country, utilities like SAIL and Tata Steel produced 37 per cent from their captive mines at only Rs 350 per tonne as pithead cost.

Singh denied the contention of mineral-rich states that the new Policy seeks to curtail their rights vis-a-vis making priority allocation of mines to potential investors. There was nothing in the policy that could reduce their powers, he said.

Replying to a query on concerns expressed by steelmakers on unabated iron ore exports, the Secretary said only low-grade ore was being shipped to China as the domestic utilities lack the required technology to beneficiate the same.

He took a potshot at the Steel Ministry for projecting a production figure of 200 million tons by 2020, saying it was unclear how it would happen. "First they said India would achieve 110 MT production, then they revised it to 200 MT. I don't know which figure was closer to reality," he contended.

India's Gas Shortage Gets Relief From Reliance Output

Reliance Industries Ltd may produce 50 percent more natural gas from India's biggest field than the company estimated, easing shortages that idled utilities in the world's second fastest-growing economy.

The Krishna Godavari region in the Bay of Bengal may yield as much as 120 million cubic meters a day after eight new discoveries, V.K. Sibal, India's oil and gas regulator, said in an April 8 interview at his office outside New Delhi. The previous target for the field, scheduled to start production in the next 12 months, was 80 million cubic meters.

Reliance, India's largest company by market value, is investing $5.2 billion to develop Krishna Godavari, which will more than double the country's output and may alleviate shortages that have shut down a third of the nation's gas-fired power plants. Demand may quadruple to 400 million cubic meters a day by 2025 if the economy expands at the government's projected annual rate of 7 to 8 percent, according to the Oil Ministry.

``Such finds may make explorers look at India as a country rich in hydrocarbons,'' said Jaspreet Singh, an associate vice president at Prabhudas Lilladher Securities in Mumbai. ``India needs to increase oil and gas output because fuel demand is rising and the supply gap is widening.''

Reliance profits almost doubled in the past three years on record earnings from processing crude oil into fuels. The Mumbai- based company intends to start production during the second half of the financial year ending March 2009, Chairman Mukesh Ambani said last year.

Shares Rise

Mumbai-based Reliance's Shares rose 49.65 rupees, or 2 percent, to 2,467.7 at the 3:30 p.m. close on the Bombay Stock Exchange. The benchmark Sensitive Index or Sensex, fell 0.6 percent to 15,695.10.

``I don't have any doubt that output from the east coast will keep on increasing,'' Sibal said in his office at the Directorate General of Hydro Carbons in Noida. ``The cost of developing adjoining fields will be incremental because they are anyway putting in place infrastructure to bring gas from the biggest field onshore.''

Sibal said estimates for the increase are based on initial details provided by Reliance.

``We have not submitted a new development plan'' to Sibal's office, Reliance spokesman Paresh Chowdary said in an e-mail. ``Any additional production approvals will be possible only on submission and evaluation of a development plan.''

Record Auction

India is auctioning rights for a record 57 gas-producing areas this year as the government contends with record crude oil prices while seeking to sustain annual economic growth of more than 8 percent.

BG Group Plc, the U.K.'s third-biggest natural gas producer, and Santos Ltd., Australia's third-biggest oil and gas company, are among drillers that won rights to explore in India last year. The nation sold 165 areas in six previous rounds, yielding 49 oil and gas finds, Sibal said on Jan. 8.

Crude oil prices at a record $111 a barrel make it viable to bring smaller discoveries into production, Sibal said. U.S. natural gas futures for delivery at the Henry Hub in Louisiana rose 31 percent in the past year on the New York Mercantile Exchange.

Fields adjoining Reliance's main discovery, called D-6, will be linked to pipes and booster stations being built to transport fuel from the field, Sibal said.

`Very Little Doubt'

``On the basis of the infrastructure that is being put up, there is very little doubt that gas output from Reliance's fields will be more than has been talked about,'' said Daven Chokesky chief executive officer at Mumbai-based K.R. Choksey Shares & Securities, which manages $550 million for wealthy individuals.

Natural gas prices may rise 50 percent within five years because producers including Russia and Nigeria, which hold almost half the world's gas, are curbing exports to meet growing domestic use, according to Chris Jarvis, president of Caprock Risk Management in Hampton Falls, New Hampshire.

Increasing demand and lack of supplies forced Japan and South Korea to pay more than double the U.S. benchmark gas price for cargoes this winter from as far away as Trinidad, the biggest LNG supplier to the U.S.

India plans to resume talks with Pakistan over a pipeline to transport gas from Iran after more than a decade of delays to meet rising demand, Oil Minister Murali Deora said on March 28.

Satyam BPO Wins Two Global Awards

Satyam BPO, the business process outsourcing arm of Satyam, a leading global business and information technology services company, announced today that it has won two prestigious Shared Services Excellence awards from the International Quality and Productivity Council. The company was honored in Orlando, Fla. during Shared Services Week, a conference organized by IQPC. Satyam BPO was a winner in the “Best Business Process Outsource Provider” and the first runner-up in the “Best Customer Service Delivery Framework” categories.

The IQPC Shared Services Excellence Awards honor, recognize, and promote Shared Services Organizations (SSOs) that demonstrate true best practices.

"We are delighted and honored to receive the 2008 Best Business Process Outsource Provider and Best Customer Service Delivery Framework awards,” said Satyam BPO Chief Executive Officer Venkatesh Roddam. “These awards are a clear acknowledgement of the culture of process and delivery excellence that we have created at Satyam BPO, as well as our sustained efforts to offer our customers the best sourcing experience through a combination of people, process and innovation excellence."

Additionally, Roddam said, the awards recognize Satyam BPO’s success in sharing best practices with its stakeholders, in addition to applying them to its own operations. “It is a testament to how shared services can help companies run their businesses with greater speed and efficiency, drive down operational costs, and increase profit margins,” he added. “As a result, they can increase their focus on business outcomes and customer satisfaction.”

The Shared Services Excellence awards are the latest in a series of honors Satyam BPO has garnered. Recently, the organization became the First Indian BPO to win the Rajiv Gandhi National Quality Award in the “Large-Scale Service Industry” category instituted by the Bureau of Indian Standards. It also won the Golden Peacock National Training Award 2007. Additionally, Satyam BPO is the world’s first eSCM capability level 5 service provider, a certification given by the IT Services Qualification Center (ITsqc) at Carnegie Mellon University in Pittsburgh.

For the Shared Services Excellence honors, Satyam BPO competed against global shared services organizations, including information technology and BPO organizations, as well as a number of clients. An eminent panel of judges scrutinized entries based on the range of services offered, clients, various people-centric measures, delivery and quality frameworks, technology, and other factors.

About Satyam BPO

Satyam BPO is powered by a combination of domain expertise, operational excellence, process skills, and superior technology. The organization is the world’s first eSCM Capability Level 5 service provider. One of India’s leading integrated end-to-end outsourcing service providers, the company offers proven, full-service expertise for multiple industries, including telecom, pharmaceuticals, financial services, and manufacturing. Satyam BPO’s global delivery standards have resulted in numerous longstanding client relationships with Fortune 500 companies. The company operates from its main delivery centers in Hyderabad, Bangalore, and Chennai – in addition to onsite delivery teams.

About IPQC

IQPC provides business executives around the world with tailored practical conferences, large scale events, topical seminars and in-house training programs, keeping them up-to-date with industry trends, technological developments and the regulatory landscape. IQPC's large scale conferences are market leading “must attend” events for their respective industries

DTS Sells Digital Images Business to Reliance Big Entertainment

DTS, Inc. announced that the Company has completed the sale of its Digital Images business to Reliance Big Entertainment Ltd., a member of the Reliance ADA Group of India.

The sale, which closed on April 4 for approximately $7.5 million in cash, marks DTS' exit from the image enhancement and restoration services business.

"We are pleased to have completed this transaction, which takes us one step closer to our goal of focusing entirely on our consumer business," commented Jon Kirchner, president and CEO of DTS, Inc. "We are delighted to have concluded a deal with a global industry leader in the media and entertainment space that will continue to build on the considerable talent and technology of the Digital Images business and continue to serve our long-term customers."

"DTS Digital Images, also popularly known as Lowry Digital Images, enjoys a superb reputation as the premier film imaging and restoration facility. The company fits well with the Digital Services strategy of the Reliance ADA Group in the global media and entertainment space," said Anil Arjun, Senior Vice President of Reliance.

About DTS

DTS, Inc. is a digital technology company dedicated to delivering the ultimate entertainment experience. DTS decoders are in virtually every major brand of 5.1-channel surround processor, and there are hundreds of millions of DTS-licensed consumer electronics products available worldwide. A pioneer in multi-channel audio, DTS technology is in home theatre, car audio, PC and game console products, as well as DVD-Video, HD-DVD, Blu-ray Disc and Surround Music software. Founded in 1993, DTS is headquartered in Agoura Hills, California and has offices in the United Kingdom, Ireland, France, Italy, Canada, Hong Kong, Japan and China. For further information, please visit www.dts.com. DTS is a registered trademark of DTS, Inc.

About DTS Digital Images

DTS Digital Images is a market leader in the digital restoration and enhancement of moving pictures. It delivers stunning picture quality using groundbreaking algorithms developed by visionary founder John Lowry. The company specializes in solving difficult film imaging problems like flicker, color breathing, dye fading, jitter and weave, mis-registration, film damage, dirt, grain buildup and lost detail. It also specializes in repairing video images with problems like dead pixels, sensor patterns, RF interference, high noise levels, poor focus and many others. DTS Digital Images has restored more than 300 of the world's most recognized feature films with output to DVD, HiDef, 35mm film, Digital Cinema, and IMAX. The company also works its magic on movie and television projects in production today, salvaging shots damaged in camera, in the lab, or even in airport X-ray scanners.

About Reliance ADA Group and Reliance Big Entertainment Ltd.

The Reliance Anil Dhirubhai Ambani Group (www.relianceada.com) is among India's top three private sector business houses on all major financial parameters, with a market capitalization of US$81 billion. The interests of the Group comprise communications, financial services, generation, transmission and distribution of power, infrastructure and entertainment. As part of the Reliance ADA Group, Reliance Big Entertainment is spearheading the Group's foray into the media and entertainment space and is building a significant presence in the Entertainment eco-system: across content, distribution platforms and services.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause DTS' results to differ materially from historical results or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates" and similar words. These statements may include, among others, plans, strategies and objectives of management for future operations; any statements regarding proposed new products, services or developments; any statements regarding future economic conditions or financial or operating performance; statements of belief and any statements of assumptions underlying any of the foregoing. The potential risks and uncertainties that could cause actual growth and results to differ materially include, but are not limited to, the timing, costs and attention attendant to the divesture of the non-consumer business, the transition to the next generation optical drives and consumer adoption of such technology, the rapidly changing and competitive nature of the digital audio, consumer electronics and entertainment markets, the Company's inclusion in or exclusion from governmental and industry standards, customer acceptance of the Company's technology, products, services and pricing, risks related to ownership and enforcement of intellectual property, the continued release and availability of entertainment content containing DTS audio soundtracks, changes in domestic and international market and political conditions, risks related to integrating acquisitions and other risks and uncertainties more fully described in DTS' public filings with the Securities and Exchange Commission, available at www.sec.gov. DTS does not intend to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made.

IFC to lend Rs 1,800 crore to Tata's power project

International Finance Corporation (IFC) on Wednesday said it will lend $ 450 million (Rs 1,800 crore) to Tata Power for setting up the 4,000 MW Ultra Mega Power Project at Mundra in Gujarat.

IFC, which is a member of the World Bank Group, received the approval of its board to advance the amount for the $ 4.2 billion coal-fired power project that will supply electricity in five states of western and northern India.

In addition to supplying electricity to industrial and agricultural users, Tata's Mundra project will serve 1.6 crore domestic consumers, said an IFC release.

The first of the power plant's 800-MW units is expected to be commissioned in mid-2011, while the other units would be launched at intervals of four months each.

The ultra mega power project, which Tata's won through a competitive bidding process, will create 5,000 jobs during construction and 700 jobs once it becomes operational.

Of the total project cost of USD 4.2 billion, IFC will provide $ 450 million with a repayment of period 20 years, the release said, adding that long-term financing will improve the risk profile of the project and will facilitate funding from local banks of around 15 years maturity.

Other lenders to the project include Asian Development Bank ($ 450 million), Korean ECA ($ 800 million) and local banks ($ 1.5 billion), besides an equity component of $ one billion.

Complimenting India for using super-critical technology for coal-fired projects, IFC Director Rashad Kaldany said, "The project will encourage other developing countries to make responsible choices, using best available technologies and applying higher environmental and social standards."