Tuesday, April 7, 2009

Karuturi Global MD invited to join inaugural class of Frontier 100

Mr. Sai Ramakrishna Karuturi, Managing Director of Karuturi Global Ltd was invited to join the inaugural class of Frontier 100, an initiative of IGD, Initiative for Global Development.

Frontier 100, identifies promising CEOs in developing countries and creates opportunities for these leaders and global CEOs to exchange knowledge, develop business and collaborate in global leadership.

IGD is a national alliance of U.S business leaders that works to promote global poverty reduction through national policy advocacy and through its Programs for Enterprise Growth, which advance private sector solutions to expand economic growth in poor countries like Africa.

Mr. Karuturi is selected as one of the top 20 CEO of the African region to take part in this inaugural session of Fortune 100 for his efforts in alleviation of poverty through the agri initiative in Kenya and Ethiopia. Ethiopian Meadows PLC an 100% subsidiary of Karuturi Global Ltd was allotted 8,50,000 acres of land by the Ethiopian government during 2008 for cultivation of food grains, palm oil, sugar cane and already 30,000 acres of land is brought under cultivation. This agri initiative when fully operational by 2013-14, is expected to fulfill a large part of the global food demand.

Sher Karuturi based in Kenya is the worlds largest floriculture unit with a greenhouse production capacity of 600 million stems per annum and with 188 hectors of land under cultivation. Sher Karuturi employs around 4,000 workers in this farm whose produce is exported to Europe, Middle & Far east and USA.

With these two production facilities put together, Karuturi holds one of the largest agriculture land bank in the world.Mr. Sal Ramakrishna Karuturi is the only CEO of Indian origin in Africa to be invited for this inaugural class of Frontier 100.Frontier 100 provides unique opportunities for developing country CEOs:

a) New opportunities for business to engage in frontier markets can catalyze growth and reduce poverty in poor countries.
b) Connects with other frontier markets business leaders.
c) Members gather once a year to discuss business issues and establish a basis for shared leadership on issues of global concern.
d) Enterprise Teams from global and frontier countries to address common Challenges.

This event is hosted by former U.S Secretaries of State Mrs. Madeleine Albright and Mr. Colin Powell and will feature discussions with prominent business leaders like Neville Isdell, Chairman, Coca Cola Company, Eduardo Castro-Wright, Vice Chairman Wal - Mart Stores, Inc, Jeffrey R Immelt, Chairman and CEO General Electric etc. This event is scheduled to commence from May 04, 2009 in New York City. USA.

BSCPL Infra to build mega township near Chennai

CHENNAI: Hyderabad-based BSCPL Infrastructure has announced the launch of its first residential project off Old Mahabalipuram Road (OMR).

Coming at a time when the real estate market is not exactly exuberant, the company said it has completed the structure for six lakh sq ft. The project named "Bollineni Hillside" is to come up on 92 acres. Touted as one of the largest integrated residential township projects in the city. the Rs 2,000 crore project offers flats ranging from 650 sq ft to 2800 sq ft including independent houses, row houses and villas.

BSCPL Infrastructure chairman Bollineni Krishnaiah said the project would be completed in two phases with a total space of about 6 million sq ft after completion. It is proposed to build 4,500 dwelling units.

"Structure for 100 villas are up and two blocks of apartments too are ready," BSCPL Infrastructure CEO Manmohan Varma said, noting that the first phase of development would be on 50 acres with more than 1,300 units. The base price has been fixed at Rs 2,500 per sq ft, with additional charges for car park, corpus fund and electricity among other things. Cost of a flat would work out to Rs 16.9 lakh to 19 lakh, he said.

America's Indian whiz kids

Narendra Tallapragada, 17, Preya Shah, 17, and Nilesh Tripuraneni, 18, did America proud, placing fourth, eighth, and ninth respectively at the Intel Science Search, the country's most prestigious pre-college science competition, often dubbed the 'Junior Nobel' prize in science.
When the top 10 winners were announced at the black-tie gala banquet at the Andrew W Mellon Auditorium in downtown Washington, DC, a back to back first place win for Indian Americans -- after Shivani Sud from Durham, North Carolina won last year -- was not to be. But there were eight Indian Americans, the highest number
ever, among the 40 finalists this year. That Indian Americans -- who make up less than 1 percent of America's population -- constituted 20 percent of the finalists underscored Indian children's dominance as the best and the brightest. With the more than 13 other finalists of Asian origin, that translates to over 50 percent of top young science minds from a population that is hardly 5 percent of the United States population.

Nilesh, of Fresno, California, also received a $20,000 scholarship, for formulating a set of hydrodynamic equations that may provide a potential method to better understand the first movements of the universe and could aid in the development of a quantum theory of gravity

Indonesian coal to power RAK projects

Dubai: Ras Al Khaimah Minerals & Metals Investments (RMMI) will begin supplying coal from Indonesia to power the UAE's first fully coal-fired power plant in Ras Al Khaimah in two years. This should help to solve a potential power shortage in the northern emirates - where hundreds of new towers would host thousands of families in new neighbourhoods.

RMMI is involved in three major mining projects in Indonesia, Armenia and Congo with investments totalling $1 billion (Dh3.67 billion). The projects will help the emirate to secure long-term energy supplies in the coming years, while the excess capacities will help other emirates.

"Initially, we will supply five million tonnes of coal to the Government of Ras Al Khaimah for the new power plant," Madhu Koneru, managing director of RMMI and vice-chairman of Middle East Coal Private Limited (MEC), a Special Purpose Vehicle (SPV) of RAK Investment Authority, told.

The strong economic growth in the northern emirates has accelerated the demand for power over the last few years. The fate of a number of projects in Ajman, Umm Al Quwain and Ras Al Khaimah would depend on steady supply of power. Al Salam City - one of the largest master-planned project - has been held back due to a dispute on potential power supply to the project.
"We are also looking at supplying excess production to India and Japan - the two countries in need for energy. In future, we could supply more coal to utilities ventures if more coal-powered power plants are developed in the UAE," Koneru said.

The Government of Ras Al Khaimah yesterday said it has been formally awarded a licence for the procurement, construction and operation of a special purpose rail network to extract and transport coal from Indonesia's East Kalimantan.

The licence was granted by the Regency of East Kutai in Indonesia to PT Trans Kutai Kencana, an Indonesian SPV of RMMI.

PT Trans Kutai Kencana is the vehicle for a joint venture between PT Kutai Timur Investama, the investment authority of East Kutai Regency and MEC.

The commitment to invest into East Kutai from the Government of RAK was announced earlier this month during the signing of a government-to-government socio-economic agreement between RAK and East Kalimantan Province in Indonesia. The signing was witnessed by Shaikh Saud Bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of RAK, and Indonesian President Susilo Bambang Yudhoyono at the World Islamic Economic Forum in Jakarta on March 3.

"East Kalimantan is the largest producer and supplier of thermal coal to both domestic and international markets. The planned infrastructure investments will enable RAK to maintain a high level of cost management and therefore stabilise prices of energy resources in the long-run as well by facilitating economical coal transportation from the resource-rich hinterland of East Kutai Regency in a scalable and efficient manner," Koneru said.

The first phase of the development programme will involve the commissioning of a 17 million metric tonnes per annum coal transportation and handling facility by 2012, while the civil and track work will be completed for 60 million tonnes annually.

Global engineering firm ARUP has completed the feasibility study and the engineering design for the 150-kilometre railway line that will connect the district of Muara Wahau to the East Kutai coast in East Kalimantan.

The railway is designed to enable a speedy and cost-effective transport of the coal, mined from remote, inaccessible interiors to the coal-loading jetty for easy movement domestically and through to international markets.

"We are going to start talking to contractors in April to construct the railway on a possible built-operate-transfer basis," Koneru said.

Lakshmi Kanta Tummala of Flint named president of state society

FLINT, Michigan -- Lakshmi Kanta Tummala of Flint has been named president of the Michigan State Medical Society Alliance.

The 1,200-member organization focuses on public health issues and supports activities of the state medical society.

Tummala, wife of Flint-area internist and pediatrician Jawahar Tummala, has been an active member of the Genesee County Medical Society Alliance for the past 15 years and has served as its president. She's been involved in numerous community outreach efforts, including the Healing Hands 5K Run and Walk, immunization programs, S.A.V.E. Day and the Needlework Guild.

She is a contributing editor to the Genesee County Medical Society's publication, "The Bulletin."Tummala plans to lead the alliance's efforts this year on the issues of alcohol and drug abuse in children, childhood obesity and women's heart disease.