BWI: JSPL’s Subsidiary Shadeed Iron & Steel LLC (Jindal Shadeed) Signs USD 725 million (around INR 4440crore) Syndicated Term Loan Facility with Bank Muscat

Source : Jindal Steel & Power Ltd. Thursday, October 30, 2014 5:05PM IST (11:35AM GMT)   JSPL's Subsidiary Shadeed Iron & Steel LLC (Jindal Shadeed) Signs USD 725 million (around INR 4440crore) Syndicated Term Loan Facility with Bank Muscat   New Delhi, Delhi, India Shadeed Iron & Steel LLC (Jindal Shadeed), a wholly owned subsidiary of Jindal Steel & Power Ltd. (JSPL) and Bank Muscat today signed the successful financial closure of USD 725 million (around Rs. 4440 crore) syndicated term loan facility. The facility was oversubscribed with commitments in excess of USD 855 million received as against the required commitments of USD 725 million.   The commemorative ceremony was part of a high-level business delegation led by His Excellency Dr. Ali bin Masoud Al Sunaidy, Minister for of Commerce and Industry, Oman, along with representatives from various Public and Private Companies of Oman, which is currently in India as part of the B2B Oman-India Roadshow.   Shadeed Iron & Steel LLC (Jindal Shadeed) is the first Integrated Steel Plant in the Sohar Port Area, Sultanate of Oman. Jindal Shadeed.Originally founded in 2005 by Al Ghaith Holdings PJSC of Abu Dhabi, Jindal Shadeed was acquired by Jindal Steel & Power Limited, India (JSPL) through its 100% subsidiary Jindal Steel & Power (Mauritius) Limited (JSPML) in July 2010.   Speaking at the event Mr. Naveen Jindal, Chairman of Jindal Steel & Power Ltd., said, “We are committed to build a comprehensive steel manufacturing facility in the Sultanate of Oman. Huge infrastructure spending in the Middle East is driving a strong demand for steel and fuelling investment in steel projects. We see great synergy in this tie-up with Bank Muscat which will help us drive our expansion projects in Oman to build one of the largest steel plants in the Middle East region.”   Bank Muscat with a consortium of 11 banks has arranged the facility of USD 725 million for Shadeed Iron & Steel. The consortium comprised of leading banks from the Arabian region and India.  The consortium includes: Bank Muscat; Qatar National Bank S.A.Q; Qatar National Bank, Oman; National Bank of Oman; Al Khalij Commercial Bank; Bank Dhofar; Bank Sohar; Ahli United Bank Bahrain; Ahli Bank Oman; State Bank of India-Dubai; State Bank of India -Oman.   According to Mr. Ravi Uppal, Managing Director and Group CEO, JSPL, “We foresee a tremendous surge in demand for Iron and Steel in the gulf market.  This strategic tie-up is a step forward in our expansion plans for the Arabian Peninsula. Currently, we are producing billets and rounds at the Oman facility and we are on course to set up 1.6 MTPA Rebar Mill, which will be commissioned in the year 2015.”   * Conversion Rate: 1 US Dollar @ INR 61.24   The entire facility was structured and arranged by Bank Muscat SAOG; Bank Muscat is also the Facility Agent, Account Bank and the Security Agent for the facility.   Mr. AbdulRazak Ali Issa, Chief Executive, Bank Muscat, whilst thanking the consortium Banks for the successful financial closure of the USD 725 million syndicated facility; said –“Oman has always facilitated a conducive environment for several overseas investors, including Indian investors, to set up projects in the country and this has played a pivotal role in helping Oman to achieve its Vision 2020 of diversifying from Oil as a major source of income to other allied activities such as metals, downstream oil and gas etc.”    Mr. AbdulRazak Ali Issa added: “Bank Muscat has supported various projects with participation from Indian companies. Going forward, we anticipate there would be many such projects being set up by Indian corporates in Oman and that the B2B Oman-India Roadshow will be an excellent opportunity to further explore mutually beneficial relationships.”     About Shadeed Iron & Steel   Jindal Shadeed commissioned its 1.5 MTPA Direct Reduced Iron (DRI) Furnace in December 2010, within a short period of its acquisition by JSPL. The company has successfully commissioned the 2 MTPA Integrated Steel Plant (ISP) in Sohar, Oman. The state-of-art facility is Oman’s first & largest Steel Melting Shop (SMS), and also the third largest unit in the Middle East & Gulf Region. The company has a sustainable competitive advantage owing to competitive gas and power pricing; logistic advantage by way of captive jetty, Vale pelletisation plant and backward integration into DRI manufacturing. Jindal Shadeed has invested over US$ 800 million in this integrated facility.   About Bank Muscat   With assets worth over USD 20 Billion, Bank Muscat is the leading financial services provider in Oman with a strong presence in Project Finance, Corporate Banking, Retail Banking, Investment Banking, Islamic Banking, Treasury, Private Banking and Asset Management. The Bank has the largest network of branches and a dominating market share amongst all the banks in the Sultanate of Oman.   About Jindal Steel & Power Limited (JSPL)   ‎Jindal Steel and Power is a $3.8 billion industrial powerhouse with a dominant global presence in steel, power, mining, infrastructure construction sectors. Part of the over US$ 18 billion diversified O. P. Jindal Group, JSPL’s business operations spans across Asia, Africa and Australia. The company has committed investments exceeding US$ 30 billion in the future and has several business initiatives running simultaneously across continents. The organization is wedded to ideals like innovation and technological leadership and is backed by a highly driven and dedicated workforce of over 20,000 people. Photo Caption: Mr. Rajesh Bhatia. CEO - Global Ventures, JSPL; Mr. Ravi Uppal, MD & Group CEO JSPL, Mr. Abdul Razak Ali, Chief Executive, Bank Muscat; Mr. Naveen Jindal, Chairman JSPL; Mr. N. A. Ansari, Director & Head of the Plant, Jindal Shadeed Iron and Steel ; Mr. K Rajagopal Group Chief Financial Officer and Director, JSPL at the financial closure ceremony      Media Contact Details Gaurav Wahi, Jindal Steel & Power Limited (JSPL), , gaurav.wahi@jindalsteel.com   KEYWORDS: Business/ Finance:Banking & Financial services, Business Services, Energy Companies, Media & Entertainment, Steel   To ensure that you continue to receive email from Business Wire India in your inbox, please add businesswireindia.com to your Address Book or Safe List.   To submit a press release, click here. 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BWI: Mr. David Frigstad, Chairman, Frost & Sullivan Takes on PM Modi's 'Clean India' Pledge to Heart

Source : Frost & Sullivan Thursday, October 30, 2014 2:32PM IST (9:02AM GMT)   Mr. David Frigstad, Chairman, Frost & Sullivan Takes on PM Modi's 'Clean India' Pledge to Heart Frost & Sullivan engages in the local clean up activity on Greams Road, Chennai   Chennai, Tamil Nadu, India Frost & Sullivan has put into action Prime Minister Narendra Modi’s initiative to 'Clean India'. Chairman, Mr. David Frigstad who on a brief visit to India was impressed by Mr. Modi’s initiative and kick started 'Swachh Bharat Abhiyan' at Frost & Sullivan, Chennai.      Inspired by Mother Teresa’s poem "Do it Anyway" and following Mr. Modi’s footsteps he motivated the entire team to follow his leadership and commit unilaterally to keep our neighborhood clean.  Mr. Frigstad along with a few employees made a serious effort to clean a portion of Greams Road. Currently, this road which hosts many corporates and is home to the many have-nots, is in a pathetic condition and unapproachable to pedestrians. To begin with, Frost & Sullivan took on the effort to keep its approaching road, Greams Lane, free of filth and garbage. Employees were seen with brooms and shovels cleaning the road; the local cleaners also joined in the cleaning program.     About David Frigstad David is the Chairman Frost & Sullivan. He has devoted his career to helping companies generate, evaluate, and implement innovative growth strategies.  Frost & Sullivan is focused on helping clients become visionary innovators in their industry.  He has authored six books, and is currently working on the seventh. Traveling extensively he frequently keynotes at industry events, associations and company strategy meetings and facilitates growth workshops and think tanks on visionary innovation, megatrends, growth strategy and competitive strategy internationally.  He currently is a member of the board of the Strategy and Competitive Intelligence Professionals (SCIP) association and is Chairman of the Board of the Frost & Sullivan Institute (FSI), a nonprofit organization dedicated to leveraging innovation to address global challenges. About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.  Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.   The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.    The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible.  This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.     For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?   Contact Us:     Start the discussion Join Us:  Join our community Subscribe:       Newsletter on "the next big thing"  Register:        Gain access to visionary innovation Follow us on : Twitter: @Frost_MENASA Facebook: FrostandSullivanMENASA Photo Caption: Chairman Mr. David Frigstad involved in the Swachh Bharat Program on Greams Lane on Greams Road Frost & Sullivan Employees involved in the Swachh Bharat Program on Greams Lane on Greams Road Greams Lane post the clean up program  Chairman Mr. David Frigstad along with Frost & Sullivan team involved in the Swachh Bharat Program on Greams Lane on Greams Road     Media Contact Details Ravinder Kaur, Corporate Communications – South Asia Frost & Sullivan, ,+91-9940141714 ,+91 (44) 66814413 , ravinder.kaur@frost.com Priya George, Corporate Communications – South Asia Frost & Sullivan, ,+91-9840355432 ,+91 (44) 66814414 , priyag@frost.com   KEYWORDS: Business/ Finance:Advertising, PR & marketing, Events & Conferences;General:Environment, People, Social issues   To ensure that you continue to receive email from Business Wire India in your inbox, please add businesswireindia.com to your Address Book or Safe List.   To submit a press release, click here. To unsubscribe or modify your Business Wire India settings, please visit your profile page on Business Wire India. Connect with us on: Facebook | Twitter | Google+

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BWI: Axis Bank Launches Online Outward Remittance Facility in Over 100 Currencies

Source : Axis Bank Thursday, October 30, 2014 1:13PM IST (7:43AM GMT)   (NSE:AXISBANK) Axis Bank Launches Online Outward Remittance Facility in Over 100 Currencies   Mumbai, Maharashtra, India Axis Bank customers can now make Outward Remittances online in over 100 currencies and across 150 countries First bank to offer seamless, paperless Online Outward Remittances in over 100 currencies Facility has been enabled in association with Citibank Axis Bank, India’s third largest private Bank, today announced the launch of its seamless Online Outward Remittance facility in over 100 currencies. Axis Bank customers can now make faster online outward remittances in over 100 currencies across 150 countries to accounts held with various other Correspondent Banks using this facility, from the comforts of their home or office! Speaking on the occasion, Mr. Sidharth Rath, President - Treasury, Business Banking & Capital Markets said, “We believe that this facility will empower our customers to transfer money to as many as 150 countries from the comfort of their home or office. The service also offers greater transparency as the exchange rates are displayed upfront to the customer before initiating the remittance. Altogether, this offering will simplify outward remittance service for our customers and enrich their experience of banking with us.” The new outward remittance service offers customers the convenience and choice to initiate transfers through Axis Bank in additional 88 currencies taking the total to 101 currencies. About Axis Bank Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses. With its 2,421 domestic branches (including extension counters) and 12,930 ATMs across the country, as on 30th June 2014, the network of Axis Bank spreads across 1,647 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Bank also has overseas offices in UK, Singapore, Hong Kong, Shanghai, Colombo, Dubai and Abu Dhabi. The Bank’s website www.axisbank.com offers comprehensive details about its products and services.      Media Contact Details Suresh Warrier, Axis Bank, ,+91 (22) 24255601 , suresh.warrier@axisbank.com Parminder Panesar, Axis Bank, ,+91 (22) 24255619 , parminder.panesar@axisbank.com Tayyab Imadi, Index PR, ,+91-9967212492 , tayyab@indexpr.in Shruti Muddup, Index PR, ,+91-9820651056 , shruti@indexpr.in   KEYWORDS: Business/ Finance:Advertising, PR & marketing, Banking & Financial services, Business Services;General:Consumer interest, Economy, People   To ensure that you continue to receive email from Business Wire India in your inbox, please add businesswireindia.com to your Address Book or Safe List.   To submit a press release, click here. To unsubscribe or modify your Business Wire India settings, please visit your profile page on Business Wire India. Connect with us on: Facebook | Twitter | Google+

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BWI: Logicserve Trading Desk Makes Premium Digital Media Planning and Buying Effortless for Advertisers

Source : Logicserve Digital Pvt. Ltd. Thursday, October 30, 2014 1:00PM IST (7:30AM GMT)   Logicserve Trading Desk Makes Premium Digital Media Planning and Buying Effortless for Advertisers Logicserve Digital launches Logicserve Trading Desk (LTD) - a service specializing in buying the right digital inventory and providing tailor made solutions with glocal expertise   Mumbai, Maharashtra, India Logicserve Digital, an accredited digital marketing agency providing 360 degree digital marketing services has launched Logicserve Trading Desk (LTD). This service aims at disentangling the tedious job of digital media buying and planning, with expertise in choosing the right inventory. With millions of impressions available across the globe, purchasing the right inventory is of absolute importance. The Logicserve Digital team understands this demand, and undertakes optimised media planning and buying for the advertisers. Armed with a comprehensive understanding of the latest technology, global expertise, performance-driven insights into the digital market and healthy relationships with the publisher network; LTD is an essential service for anyone looking at digital media buying around the world. It aids in identifying and allocating the inventory at competitive rates. LTD is a combination of tapping market’s nerve, categorizing media buckets and analysing the performance in real-time. The cutting edge advantage that LTD provides ranges from access to the best DSP/RTB platforms, assistance in digital inventory buying, comprehensive multi-media approach, retargeting, optimisation, creative assistance etc. With a 360 degree service, inclusive of impressions across display, mobile, video etc, LTD becomes a single platform for multiple media buying. “With each media buying platform reciprocating in a unique manner- identifying, tracking and optimising can be a cumbersome task. Hence, we have introduced Logicserve Trading Desk where the client’s life is simplified and spends optimised,” Mr. Prasad Shejale, Co-Founder & CEO (India), Logicserve Group.    It is sure to empower the clients, advertisers and digital marketers to make the right choice in seamless manner. Logicserve Digital: Logicserve Digital is Logicserve Group’s Indian arm for Digital media endeavours to unlock the untapped potential for its clients and consumers, by bridging the brand-consumer gap through innovative solutions centered on World Wide Web.   Media Contact Details Manvi Sharma, Head Partnership and Communication Logicserve Group, , manvi.s@logicserve.com   KEYWORDS: Business/ Finance:Advertising, PR & marketing, Business Services, Information Technology, Technology;General:Consumer interest, Internet, Lifestyle   To ensure that you continue to receive email from Business Wire India in your inbox, please add businesswireindia.com to your Address Book or Safe List.   To submit a press release, click here. To unsubscribe or modify your Business Wire India settings, please visit your profile page on Business Wire India. Connect with us on: Facebook | Twitter | Google+

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BWI: GoDaddy Provides an Online Collaboration Platform to IISRT, Institute of Scientific Research & Technology

Source : GoDaddy Thursday, October 30, 2014 12:00PM IST (6:30AM GMT)   GoDaddy Provides an Online Collaboration Platform to IISRT, Institute of Scientific Research & Technology   Gurgaon, Haryana, India GoDaddy, the world’s largest technology provider dedicated to providing services for small businesses, today announced that it has helped IISRT, International Institute of Scientific Research & Technology (IISRT), set-up an online platform to serve as a global content repository and collaboration resource for engineers.  IISRT.com was registered with GoDaddy to encourage knowledge-exchange from across the world in the engineering field.    Ramesh Chakaravarthi RP and Vivek Chakaravarthi GC, the IISRT’s founders, felt that this digital platform was the need of the hour because it helps facilitate easy access to information on subjects related to engineering, a challenge they both faced as students.   “We wanted to host and invite content related to engineering as an e-channel, and a website was the ideal solution,” said the IISRT’s founders. “GoDaddy helped us acquire the right domain name to build a global repository of relevant content for the engineering community. A .COM domain name goes a long way in making our website search-friendly and easy to remember. Today, IISRT.com is gaining an international reputation as the preferred destination for collaboration and information sharing for engineers.”   The most popular TLD (top-level domain) in the world, .COM is universally appealing, widely searched and easy to remember. The backend infrastructure of .COM is managed by Verisign, which has maintained 100 percent operational accuracy and stability for world’s leading TLDs like .COM and .NET for the past 15 years. Additionally, the IISRT partnered with GoDaddy to secure a professional email along with Web hosting services for increased reliability.   “We chose GoDaddy based on positive online reviews, recommendations we received from friends and the company’s attractive web-hosting plans. We wanted a trusted partner who could handle traffic 24/7, with maximum uptime,” added the IISRT founders.   The company’s main source of business—IISRT.com—is also easily accessible on smartphones, tablets and laptops.   “GoDaddy is delighted to make its contribution towards helping students, scholars and enthusiasts collaborate and share ideas through platforms like IISRT.com”, said Rajiv Sodhi, Vice President and Managing Director, GoDaddy India. “Our aim is to arm small businesses and individuals with affordable, easy-to-use and best-of-breed technology solutions, enabling them to build an impactful global online identity.”   GoDaddy offers its customers a ‘one stop shop’ for all relevant products and solutions needed to establish and grow their business online, including access to integrated Web solutions spanning domain registration, email, hosting, website building, marketing tools and aftermarket domain services.   The company’s mission is to empower small business owners, individuals and entrepreneurs by helping them to easily start, confidently grow and successfully run their own ventures. Serving more than 12 million customers worldwide, GoDaddy works with small businesses across the world to help them create a one-of-a-kind digital identity, enabling them to reach customers globally and run their business 24/7.   Headquartered in Scottsdale, Ariz. USA, GoDaddy also has offices across nine other locations including Washington, Massachusetts, Iowa and California in the U.S., and international offices in Latin America, U.K., Canada, the Netherlands, Singapore and India. GoDaddy operates data center facilities in U.S., Europe and Asia.   To learn how GoDaddy can help your small business, visit: in.GoDaddy.com Connect with GoDaddy on Facebook , Twitter & LinkedIn   Read why our customers recommend GoDaddy About GoDaddy GoDaddy's mission is to radically shift the global economy toward small businesses by empowering people to easily start, confidently grow and successfully run their own ventures. With more than 12 million customers worldwide and approximately 58 million domain names under management, GoDaddy gives small business owners the tools to name their idea, build a beautiful online presence, attract customers and manage their business. To learn more about the company, visit www.GoDaddy.com.     Media Contact Details Pragya Goel | Udiksha Pathak, Bite, , GoDaddyIN@biteglobal.com Susie Penner, GoDaddy, , susie@GoDaddy.com   KEYWORDS: Business/ Finance:Advertising, PR & marketing, Business Services, Information Technology, Technology;General:Science & Research   To ensure that you continue to receive email from Business Wire India in your inbox, please add businesswireindia.com to your Address Book or Safe List.   To submit a press release, click here. To unsubscribe or modify your Business Wire India settings, please visit your profile page on Business Wire India. Connect with us on: Facebook | Twitter | Google+

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