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Coal India pulls out all stops to increase output
Focus is on underground, abandoned mines.

Navi Mumbai body asks banks to pay cess on gold deals
Public and private sector banks in the Navi Mumbai municipal area which have done gold transactions, will have to pay 1 per cent account-based cess on the total turnover. The Navi Mumbai Municipal Corporation (NMMC) could be the first civic body in the country to recover such a cess on gold transaction.

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ICICI cuts home loan rates to remain competitive
Joining the battle being fought in the market for mortgages, India’s second-largest lender, ICICI Bank, has cut rates for home loans from August 20.
Public Relations

Mercedes-Benz to launch long-haulage trucks in India

Mercedes-Benz is planning to launch over-dimensional-cargo (ODC) vehicles and long-haulage trucks that can carry up to 240 tonnes in India soon. - Frank-ly speaking - BMW, Mercedes for joint US transmission plant - Mercedes-Benz launches 1st luxury hybrid model in Japan - Doordarshan most watched channel: Study - Mercedes-Benz India expects to sell 60% C-Class model in Gujarat - Mercedes-Benz launches special edition model in India The company is also bullish on supplying commercial vehicles like trucks to mining and irrigation projects in the country. Currently, this segment contributes close to 15 per cent of the company’s total turnover in India. Said Wilfried Aulbur, managing director and CEO of Mercedes-Benz India: “We are looking at niche segments in India. With luxury car sales plummeting, we are focusing on the commercial vehicles segment very strongly.” To this effect, Mercedes-Benz will be supplying 250 Actros trucks to Soumya Mining, at a cost of Rs 144 crore. Soumya Mining, which operates a Rs 200-crore business, has Coal India as its largest client. Currently, Soumya operates in Chhattisgarh, Jharkhand, Madhya Pradesh, Meghalaya, Rajasthan, Uttar Pradesh, Assam, Nagaland, Orissa and Maharashtra. Actros trucks now operate across 25 mines in seven states. Around 25 per cent of these trucks are assembled and localised in India. “We are in the process of preparing a proposal for the Ministry of Defence in India to supply some of our vehicles, like G-Wagon and Unimog. Some of our defence sector vehicles were used by the Canadian army to fight the Taliban,” said Aulbur. So far in 2009, the company has sold 127 trucks in India. The company is also targeting the irrigation segment in Andhra Pradesh and is in talks with contractors for selling its trucks for the purpose. The company has sold 25 buses to private fleet owners, as well as to the state governments, for inter-city transportation.


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