· An USD 1,260,000 equity investment in SBA Hydro & Renewable Energy (P) Ltd (SHREY), for financing up to 10 grid-connected 100kW micro-hydro power plants in Himachal Pradesh, India;

· A follow-on USD 1,000,000 equity investment in d.light design, a company that designs and distributes affordable lighting and power solutions for low-income households globally.

One in four people worldwide lack access to electricity. It is not clear how many Indians lack access to affordable, consistent power, though it can be safely estimated that about half the population – more than 500 million people - lacks access to a reliable energy source.

“Since launching our energy portfolio last year in recognition of the critical role that energy plays in all phases of development, Acumen Fund has been working to identify companies using entrepreneurial approaches to delivering clean, modern, high quality power solutions to the poor,” said Jacqueline Novogratz, CEO of Acumen Fund. “SHREY and d.light are two such companies and we think they can be scaled up to serve as global models for delivering energy services to the poor.”

Acumen Fund has been looking at various business models in the energy space, including decentralized energy generation and supply, as well as more efficient and affordable alternatives to current consumer products.

“We have found that providing renewable energy resources addresses several issues at the same time,” said Raj Kundra, Director of Energy at Acumen Fund. “Providing access to reliable clean energy increases productivity and household income; it provides health benefits at the individual level by replacing kerosene usage; and it reduces global greenhouse gas emissions.”

“There are many communities in India where the government has expanded the grid infrastructure but there is an inadequate supply of quality power,” said Varun Sahni, India Country Director. “There are also many marginalized villages where access to the main grid may be an inefficient and expensive solution. Acumen Fund has been looking at business models relevant to both scenarios in an effort to find the most cost-effective way to bring reliable power to these communities.”

Targeting low-income households in Himachal Pradesh, SHREY is a sister company of SBA Hydro, a hydro turbine manufacturer for mini and micro-hydro plants. Set up as a project development company, SHREY plans to develop up to ten mini- and micro-hydro sites in communities with grid access but inadequate power supply. With Acumen Fund’s investment, SHREY will be able to generate a reliable supply of decentralized power, feeding into the local grid, in areas which are typically “end-of-the-line.” SHREY’s work represents a public-private partnership at all levels—revenue and ownership sharing with local village panchayats, sale of energy to the state electricity board, and support in the form of a capital subsidy from the Ministry of New and Renewable Energy. “Indeed, the additional costs of bringing energy to the rural poor combined with the enormous social and environmental benefits of doing so enable a compelling case for public-private partnerships and hybrid delivery models,” says Jacqueline Novogratz.

This initial bundle of hydro power will serve 30,000 to 50,000 people, depending on consumption levels. “The business has tremendous potential for replication, and with Acumen’s support, SHREY hopes to prove a model for decentralized generation that may be replicated across the Himalayan belt.” said Varun Sahni, Director of Acumen Fund India.

d.light design is a lighting and power company that delivers affordable and high quality solutions to serve families living without adequate electricity. Their launch product range - a series of robust Solar LED lights with AC charging options – are designed as an affordable alternative to replace kerosene lanterns and are particularly targeted at off-grid customers, who need a product with a low-entry price (d.light's products range from $10-$20 USD). The company uses high-powered LEDs that are 8-10 times brighter than a kerosene lantern, 30-50% more efficient than fluorescent lights, and can provide up to 40 hours of light on a single charge. Acumen Fund's investment will support expansion of d.light's global operations, and an Acumen Fund Fellow will also be working to support the company's scale-up through 2009.

"Affordable off-grid lighting is a critical demand in all the geographies where Acumen works, and with a global team focused on low-cost high quality products, d.light is well-poised to scale in this market," said Raj Kundra.

“Acumen Fund’s investments in SHREY and d.light - and the growth of our energy portfolio - reflect the growing number of viable businesses that address the critical power needs of these underserved markets,” continued Raj Kundra. “Given the scale of those needs, we continue to look for opportunities to invest in innovative models that can reach millions of low-income customers.”

To learn more about Acumen Fund and follow the progress of its investments in SHREY and d.light design, visit www.acumenfund.org.

Source: Press release distribution via India PRwire

About Acumen Fund

Acumen Fund is a nonprofit venture fundthat investsin market-oriented approachesto delivercritical, affordable goods and services to the world’s poor. Acumen Fund focuses onthe convergence of philanthropic capital and business expertisetoproduce sustainable, scalable enterprises that reach underserved markets and increase access to the opportunities of the global economy. For more information on Acumen Fund’s activities and investments, visit www.acumenfund.org.

Acumen Fund in India

Acumen Fund has been investing in India since 2001, focusing on a wide range of sustainable, scalable businesses that use market-based approaches to deliver products and services to millions of rural and urban poor. Investments made by Acumen Fund India in local enterprises include high-quality maternal and pediatric healthcare services; safe water for consumption and livelihood; and clean energy. Leveraging strong relationships with local academic institutions and businesses as well as the global Acumen Fund network, Acumen Fund India is actively exploring further investments in healthcare services, as well as potential investments in housing and energy services.

The company posted PAT of Rs. 24.65 crore, an increase of 92% over Rs 12.84 crore in the corresponding quarter of the last fiscal.

Net income rose by 37% to Rs 71.63 crore, up from Rs 52.11 crore for the same period last year. The total revenues comprised 81% contribution from Tea Business while Oil & Gas contributed to19%, this quarter.

The EBITDA stood at Rs 32.47 crore for the quarter ending September 2008 and Rs 18.64 crore for the same period last year.

EPS of the Company has gone up to Re.0.80 this quarter from Re.0.57. Nominal value of Equity Share is Re 1/- .

Mr A.K.Jajodia, Managing Director & CEO of the Company, commenting on the excellent performance said “ Our strong numbers are a reflection of the success of our strategy of leveraging our traditional strength in the tea business to drive revenues and facilitate scalability of our Oil & Gas (E&P-Upstream) business which can boost our margins further”.

He confirmed that the Company is focused in E&P operations and has ambitious plans of drilling further wells in Amguri, Assam during the remaining part of this financial year thereby augment its production of hydrocarbon Mr. Jajodia is optimistic of the Company’s sector specific Hydrocarbon and Power SEZ Project in Gujarat for which necessary land has already been allotted by the State Government.

Source: Press release distribution via India PRwire

About Assam Company Limited

Founded in 1839, Assam Company has traditionally been a tea major and now also has significant interest in Oil & Gas (E&P-Upstream). The company has 16 factories, 19 tea estates & gardens spread over 13,500 hectares, producing very high quality premium tea. In the Oil & Gas space it has Participating Interest in 3 Oil fields under consortium with various partners in the lucrative Assam-Arakan basin and has Contractual Operating Interest in three Fields in Assam and Nagaland with ONGC. The company also has interest in overseas oil assets with substantial stake in Austin Exploration Limited, Australia. It has recently ventured into infrastructure with the primary focus of developing an SEZ in Hydrocarbon and power sector in the State of Gujarat.

India Power Awards have been initiated by Council of Power Utilities (CPU), an umbrella organization of power utilities in India, and KW Conferences Ltd.(KWC), a professional conference organizer. These awards recognize the achievements and contributions by companies, organizations and professionals in the Energy sector. The award categories include Overall Utility Performance, Innovation, Excellence in Water and Energy Management, Research and Technology, Promoting Clean and Renewable Energy, Energy Efficiency and Demand Side Management, Social and Community Impact and Making a Difference at the Grassroots Level.

India Power Awards 2008 received an encouraging response during the nomination process from a variety of participants in the sector. A Jury comprising eminent and respected individuals from the Ppwer and Water sector along with Mercados Energy Markets International, a specialist energy consulting company evaluated these nominations.

The Jury comprises the following people:

§ Mr. H.L. Bajaj - Member (Technical), Appellate Tribunal for Electricity

§ Mr. K. Ranganatham - Former CMD, Southern Power Distribution Company of Andhra Pradesh Limited

§ Mr. P. Abraham - Former Secretary, Ministry of Power

§ Mr. V. Raghuraman - Senior Advisor- Energy, Confederation of Indian Industry

§ Mr. V.B. Patel - Former Chairman, Central Water Commission

The nominations have been evaluated on four major criteria i.e. performance, innovation, responsiveness and impact and scalability and sustainability.

Program Details:

Event

India Power Awards 2008

Date

November 3, 2008

Venue

Hyatt Regency, New Delhi

Time

7 PM onwards

Source: Press release distribution via India PRwire

For participation, contact/further information:- S Bharat, K W Conferences, Tel: +91 124 4636700, Fax :+91 124 4102075, Email: bharat@kwconferences.com or Sunaina @ 9811645243; 011-46523456; sunaina@image-publicrelations.com

You can also visit - http://indiapowerevents.org

Seth Grae, Thorium Power's President and CEO, stated: "This is a historically significant week for the U.S. and global nuclear industries. We applaud the Senate's approval of the landmark US-India civilian nuclear cooperation agreement. We also recognize Senators Hatch and Reid for introducing bipartisan legislation that promises to advance the nuclear renaissance here in the United States. From Washington, DC to New Delhi, there is growing support for innovative, nuclear fuel designs that practically address increasing energy demands while adhering to the highest non-proliferation standards."

Amb. Dennis Hays, Thorium Power's Vice President and Director of Government Affairs, added: "We are greatly encouraged by the recent congressional actions. These legislative milestones highlight the increasing interest in non-proliferative solutions and the many benefits of the thorium fuel cycle. As such, they directly support our ongoing mission to implement safe, smart nuclear power while establishing a new standard in non-proliferation. India is an exciting new market with a longstanding interest in thorium fuel. We look forward to accelerating our ongoing discussions with key Indian entities."

Secretary Rice is expected to sign the "123 Agreement," which will operationalize the deal, during her visit to New Delhi this weekend. The State Department press releases and the full text of the legislation may be accessed via the following links:

http://www.state.gov/secretary/rm/2008/10/110581.htm
http://www.state.gov/secretary/rm/2008/10/110554.htm
http://www.govtrack.us/congress/billtext.xpd?bill=h110-7081

The Senate is expected to continue procedural deliberations on the "Thorium Energy Independence and Security Act of 2008." Following is a link to Senator Hatch's press release, which includes comments by Seth Grae:

http://hatch.senate.gov/public/index.cfm?FuseAction=PressReleases.Detail&PressRelease_id=bf8479e9-1b78-be3e-e031-1635aee6efa9

Source: Press release distribution via India PRwire

Thorium Power (OTCBB: THPW) is a pioneering U.S. nuclear energy company based in McLean, VA. The Company develops non-proliferative nuclear fuel technology and provides comprehensive advisory services for emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. Thorium Power's technologies, which are aimed at both existing and future reactors, include nuclear fuel designs optimized to address key concerns regarding traditional nuclear power, including proliferation of weapons usable nuclear materials and reduction of nuclear waste. The Company maintains a seasoned team with unparalleled experience from the nuclear energy industry, regulatory and government affairs, non-proliferation and diplomacy. It leverages those broad and integrated capabilities by offering consulting and strategic advisory services to commercial entities and governments with a need to establish or expand nuclear industry capabilities and infrastructure. Thorium Power also maintains long-standing relationships with leading Russian nuclear entities, providing expert resources and facilities for its nuclear fuel development activities. The Company enters into partnerships with participants in the global nuclear industry, allowing it to address a wide range of international opportunities.

DISCLAIMER

This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, statements regarding benefits of new agreements and other statements identified by forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "expects," "projects" or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein. Reference is made to the risk factors contained in our latest annual report as filed with the Securities and Exchange Commission. These factors may cause actual results to vary from the forward-looking statements contained in this release.

Further information is available on Thorium Power, Ltd.'s website at http://www.thoriumpower.com

Seth Grae, the President and CEO of Thorium Power, stated: "We are very appreciative of the efforts of the President and the Congress to bring this Agreement into force. The strong bipartisan support for this measure is indicative of the recognition by the Congress that India can be a strong ally and valued partner in developing safe civilian nuclear power for both our nations' continued economic development."

Grae continued: "India is in the forefront of the world in recognizing the distinct advantages of using thorium in the nuclear fuel cycle while Thorium Power is the world leader in developing non-proliferative, low waste thorium nuclear fuels. There is much we can learn from each other and much we can do together. We have engaged various entities in India's private and governmental sectors for many years. This agreement allows us to hold advanced discussions with some of the leading entities and we anticipate that these business opportunities will move forward."

Grae concluded by noting: "India will become a significant player on the international nuclear market given the nation's great number of highly skilled nuclear engineers and scientists, and successful and far reaching multinational corporations. We at Thorium Power believe the 123 Agreement affords a unique opportunity to combine India's great strengths with innovative American technology to significantly advance the world-wide nuclear renaissance."

Source: Press release distribution via India PRwire

About Thorium Power, Ltd.

Thorium Power (OTCBB: THPW) is a pioneering U.S. nuclear energy company based in McLean, VA. The Company develops non-proliferative nuclear fuel technology and provides comprehensive advisory services for emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. Thorium Power's technologies, which are aimed at both existing and future reactors, include nuclear fuel designs optimized to address key concerns regarding traditional nuclear power, including proliferation of weapons usable nuclear materials and reduction of nuclear waste. The Company maintains a seasoned team with unparalleled experience from the nuclear energy industry, regulatory and government affairs, non-proliferation and diplomacy. It leverages those broad and integrated capabilities by offering consulting and strategic advisory services to commercial entities and governments with a need to establish or expand nuclear industry capabilities and infrastructure. Thorium Power also maintains long-standing relationships with leading Russian nuclear entities, providing expert resources and facilities for its nuclear fuel development activities. The Company enters into partnerships with participants in the global nuclear industry, allowing it to address a wide range of international opportunities.

DISCLAIMER

This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, statements regarding benefits of new agreements and other statements identified by forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "expects," "projects" or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein. Reference is made to the risk factors contained in our latest annual report as filed with the Securities and Exchange Commission. These factors may cause actual results to vary from the forward-looking statements contained in this release.

Further information is available on Thorium Power, Ltd.'s website at http://www.thoriumpower.com

I also take this opportunity to welcome the entry of the Sultanate of Oman, the Kingdom of Lesotho and Independent State of Papua New Guinea to the membership of the International Atomic Energy Agency (IAEA).

I would also like to compliment Dr. Mohamed ElBaradei, Director General on his able stewardship of the International Atomic Energy Agency for yet another year. Through his tireless efforts, he has guided the work of the Agency so that it can be better prepared to face contemporary challenges and also realize the immense opportunities that lie ahead.

Mr. President, this has been a remarkable year for India in the field of nuclear energy. The approval by consensus of the Agreement for the Application of Safeguards to Civilian Nuclear Facilities by the IAEA Board of Governors on 1st August, 2008 (GOV/2008/30), and the Statement on Civil Nuclear Cooperation issued by the Nuclear Suppliers Group (INFCIRC/734) on 6th September, 2008 have created conditions for India to make an even bigger contribution to the growth of international civil nuclear cooperation. Here we would like to acknowledge the contribution and assistance of our close friends in the international community who have made it possible.

While development of such cooperation will contribute to the strengthening of India’s energy security, India is also looking forward to enhance its assistance to friendly countries. India has an ongoing programme on 220 MWe PHWRs, a reactor system that is competitive in terms of capital costs, safety performance and unit energy cost. This system is well suited to the needs of countries with small electricity grids, especially those in the developing world.

Today we have reached a critical point in global development efforts, which is marked by a huge increase in the energy requirements of emerging economies, unfulfilled developmental aspirations of a vast majority of the global population and the serious threat that our planet faces in terms of climate change. According to the Inter Governmental Panel on Climate Change, “warming of the climate system is unequivocal, as is now evident from observations of increases in the global average air and ocean temperatures, widespread melting of snow and ice and rising to global average sea level”. It is, therefore, clear that as we work towards meeting enhanced energy requirements, we need to realize this not in the business as usual mode but with much greater dependence on non-fossil energy sources. Such an approach is necessary as a part of climate change mitigation strategies, as well as for sustainability of available energy resources.

As an example here, I might mention that, as per the estimates made by our Planning Commission, India’s share of incremental world supply of fossil fuels could rise from a low of 13% in the most energy efficient scenario to a high of 21% in the coal dominant scenario by 2031-32. India has, therefore, accorded high priority to realizing a significantly larger share for nuclear power in our overall electricity generation. Rapid development of nuclear energy has the viable potential for making the necessary energy available for sustainable development of the world at large.

India has been practicing a comprehensive programme in atomic energy covering the entire fuel cycle in respect of uranium, plutonium and thorium based fuels. While the three stage development of our nuclear programme is dictated by our prime long-term objective of realizing energy independence on the basis of our vast thorium resources, our understanding and experience with thorium clearly reveals several benefits of the thorium fuel cycle, particularly in heavy water reactors, in terms of proliferation resistant nuclear energy production as well as efficient fissile plutonium disposal which may also be of interest to other countries. We are organizing a side event this Friday that would highlight the role of Thorium in this regard in some detail.

Mr. President, I would now like to present a few highlights from Indian nuclear power programme, which has by now clocked 285 reactor years of safe and economic nuclear power generation. A new national record for continuous power operation was achieved by the Kaiga – 2 reactor by registering 529 days of uninterrupted run during August 2006 to January 2008. In addition to the seventeen operating reactors, three 220 MWe Pressurised Heavy Water Reactors, two 1000 MWe Light Water Reactors and one 500 MWe Prototype Fast Breeder Reactor (PFBR) are currently in advanced stages of construction. An important milestone of erection of the 13.5m diameter safety vessel into the reactor vault of PFBR was reached in June 2008. I am also happy to inform you that the MoX fuel for PFBR, which is being irradiation tested in the Fast Breeder Test Reactor at Kalpakkam, has now reached a burn-up of 80,000 megawatt days per tonne of heavy metal. The initial construction activities related to Fast Reactor Fuel Cycle Facility that would recycle the PFBR fuel have commenced. The programme of development of metallic fuels that would enable shorter doubling time of fast reactor capacity is moving on course. We are also pursuing pre-project activities for four 700 MWe PHWRs and development of a new uranium mine at Tumallapalle.

A new critical facility for validating the physics design of the thorium based Advanced Heavy Water Reactor core, as well as for investigation of core lattices based on various fuels, moderator materials and reactivity control devices is now operational at the Bhabha Atomic Research Centre and is being used for various experiments for the purpose. The design of a new multi-purpose research reactor is progressing well and studies are currently underway to incorporate features in the design for its possible coupling to a lead-bismuth-eutectic spallation neutron source driven by a 650 MeV proton beam. The 3rd generation high level waste vitrification melter based on cold crucible technology has been in regular operation. Based on the operational feedback, a new melter has been designed and is under manufacture. An industrial electron beam irradiator based on 10 MeV RF-LINAC has been commissioned. This machine is capable of delivering an electron beam over a 100 cm x 5 cm area in air for various materials processing applications. A 1:4 size model of our 540 MWe PHWR containment has been constructed to conduct experimental studies on various failure modes of the containment up to its ultimate load capacity. An international round-robin exercise has been organized using the results of these experiments that will enable bench marking of various computer codes for analysis of containment behaviour under accident conditions. Similarly, there are other major round robin exercise activities being pursued in India covering large RCC structures, tsunami effects, atmospheric dispersion, etc. We would welcome participation of interested research groups in these exercises. INDUS II, the 2.5 GeV Synchrotron at Raja Ramanna Centre for Advanced Technology at Indore has reached its full energy level with a number of experimental beam lines operational. The Superconducting Cyclotron at Variable Energy Cyclotron Centre, Kolkata has also been commissioned with an internal beam.

India has also played an important role in several international projects that help further fundamental nuclear research. We are happy that the LHC has been completed and would start producing valuable experimental results as soon as the initial teething troubles are overcome. We value our participation in the ITER project which is important in terms of the long-term energy needs of the world. India is also participating in FAIR and many other mega-science projects.

Mr. President, I am also happy to inform this august gathering that in the area of cancer treatment , the indigenously developed tele-cobalt machine, Bhabhatron, is increasingly being sought after by cancer hospitals. Nine Bhabhatrons have already been installed and more are currently under manufacture. On the nuclear agriculture front, 8 new mutant varieties were notified by the Central Government for commercial cultivation during the year. This takes the total mutant varieties developed in BARC to 35.

As a member of the IAEA’s INPRO activity right since its inception, we are glad to note the progress made during recent years. India is a participant in eight of the twelve Collaborative Projects under INPRO Phase – II. The collaborative projects, particularly in the fields of water cooled reactors, fast reactors, high temperature reactors, and thorium utilization, have been offering an unique opportunity for the participating Member States to jointly work towards taking these technological approaches forward, to fulfill the needs of the future and to cater to enhancement of the volume, reach and range of deployment of nuclear energy in the world. It is rather ironic that this important technological activity, which is at the core of a holistic solution to global access to nuclear energy in a safe, secure and sustainable manner, is still not a part of regular budget of the Agency. We once again stress on the need to provide full budgetary support to the INPRO activities, which we believe would be a most efficient and sustainable use of the Agency resources in meeting its objectives according to its Statute.

Mr. President, human development has primarily resulted from creative thinking and actions based on observations of things around us. Science and Technology has played a major role in this evolution. At the current crucial juncture, when the ability to access the vast energy potential of the atom by all is the need of the hour to prevent widening of disparities, fears arising out of the destructive power of atom are preventing wider access. Several proposals for solutions are on the table. While one needs out of box ideas to make progress, it is clear that S&T based solutions are the ones that are likely to be most successful. Among all agencies in the UN family, the IAEA is uniquely placed in this respect as it has the necessary S&T resources with global representation. What we need is to emphasise S&T approaches to such solutions and INPRO is a case in point.

While we recognize the importance of nuclear power development world wide, we also need to take into account the factors that have constrained its growth. The number of countries that have taken up construction of a new power reactor has remained stagnant at 33 since the year 1985. However, there are ambitious plans now for expanding the nuclear power generating capacity in many countries and several countries have plans to build their first nuclear plant in the near future. Clearly, the required infrastructure needs to be in place in a timely manner to service this nuclear renaissance. One of the crucial elements of the infrastructure is the availability of trained human resources. Fortunately in India we have a robust programme for manpower development that is in existence for over five decades now. In keeping with the spirit of international cooperation, we would like to offer to train foreign young scientists in our Nuclear Training School, that regularly conducts a one-year orientation course for engineering graduates and science post-graduates, on mutually agreed terms.

As members of a responsible global community, we need to understand the issues that inhibit access to nuclear power and find solutions for their resolution. Clearly there are issues concerning human resources, capable infrastructure, safety regulation and security. What we need is a balanced approach which maximizes development and minimizes risks. The International Atomic Energy Agency, through its more than five decades of scientific and professional work, has established itself as a credible organization that fulfils its mandate as enshrined in its Statute. With its strong science base and rich experience, the Agency is in a unique position to identify and promote holistic technological solutions that are optimum, that minimize constraints and are accessible to all.

The Director General’s bold initiative last year to set up the Commission of Eminent Persons (CEP) for going into the nature and scope of IAEA’s programme upto 2020 and beyond is highly commendable. The Report clearly brings out the need for a greater role for the Agency in piloting global development through the use of atomic energy which appears almost inevitable today. While the Report does cover all relevant dimensions, especially the need for enhanced resources through regular budget, perhaps it could have been more balanced. The Report, however, does not provide many practical ideas and strategies to enable new entrants to access the benefits of nuclear energy. We would have been happier to see the focus of the Report on such and other related aspects within the scope of Agency Statute rather than on aspects outside. The CEP report alone, as it stands, cannot be the basis for IAEA’s future. Clearly, more work needs to be done. However, we welcome this opportunity provided by the release of the Report to generate constructive and practical ideas as to how the renaissance of the nuclear industry could benefit all countries, the developing countries in particular.

Mr. President, on 30th October, 2008 we would enter the birth centenary year of the founder of atomic energy programme in India, the late Dr. Homi Jehangir Bhabha. I am also happy to inform that during this Bhabha Centenary Year, and also to mark the Silver Jubilee Celebrations of the Indian Atomic Energy Regulatory Board, we will be hosting the IAEA International Conference on Topical Issues in Nuclear Installation Safety, that is scheduled to be held in Mumbai during 17-21 November, 2008. As part of a year long Homi Bhabha Birth Centenary programme, we are planning to organize an international conference on “Peaceful Uses of Atomic Energy” and it will be our privilege if we can do this in cooperation with IAEA. As many of you are aware, Dr. Bhabha was among the early group that worked on shaping IAEA and in fact was instrumental in having its headquarters located in Vienna. Incidentally Dr. Homi Bhabha was also the President of the 1st Geneva Conference on “Peaceful Uses of Atomic Energy”

Mr. President, in the march of human civilization every age and era is defined by a significant achievement; the use of fire, the invention of the wheel, locomotion through steam, the realization of power of the atom and the internet. We have now reached the final frontier. In this age we are at the threshold of the most exciting of possibilities - the power to understand and manipulate matter in the service of mankind. But this possibility will become a reality only if the nations of the world, and in particular the scientific community, come together and join hands in a manner not seen in the past. We are hopeful that the international nuclear community working together as one family within the framework of the IAEA, will not let this opportunity pass and take giant leaps towards harnessing nuclear power for the benefit of the entire humanity.

Thank you, Mr. President

http://www.dae.gov.in/gc/gc52.htm

Source: Press release distribution via India PRwire

The centre in Chennai marks an important milestone in Vestas’ strategy to expand its research and development activities globally in order to maintain its leadership position in modern energy. The new centre will enable Vestas to attract the elite of the talent pool available amongst Indian engineers. Engineers with the highest level of competence and experience will be hand picked to further strengthen the company’s R&D activities on a global scale. The technology centre will further consolidate Vestas’ presence in one of its key markets and will strengthen the existing R&D organisations in Europe, Singapore and the US.

“The primary objective behind all our R&D initiatives is to improve turbine reliability and lower the cost of energy. The research that we will undertake at our new centre in Chennai will contribute to R&D in almost all core wind technology areas. This will help us go a long way maximising the performance of our products,” says Finn Strøm Madsen, President of Vestas Technology R&D.

At the moment, more than 100 employees work at the Chennai centre making it the largest Vestas Technology R&D facility outside Denmark. The number of employees is expected to climb to more than 500 over the next five years.

According to Michael Høgedal, Vice President & Managing Director of Vestas Technology R&D Chennai, these activities already attract candidates.

“Chennai offers us an immense talent across various disciplines, which is crucial to wind turbine R&D. The city has world-class universities, good IT infrastructure and engineers with cutting edge knowledge and high experience levels from other multinational companies, and we are very pleased to learn that they now seek for positions in Vestas Technology R&D in Chennai,” says Michael Høgedal.

Source: Press release distribution via India PRwire

Vestas – No. 1 in Modern Energy

Wind power is a competitive, predictable and clean energy resource. It has a fast ramp-up and offers the energy independence demanded by some of the world’s largest and fastest growing economies. This is why Vestas calls wind power Modern Energy. With a 23 per cent global market share in 2007, Vestas is the world’s largest supplier of modern energy solutions. The company has installed more than 35,500 wind turbines in 63 countries. In India, Vestas has been present for more than a decade and has developed projects in states with the best wind conditions. Established in August 2007, Vestas Technology R&D in Chennai is now a vital part of Vestas’ global R&D activities contributing to the entire range of activities.

“Wind plays a crucial part within renewable energy as it is commercially competitive today. It is important for Masdar to be part of that growth” said Dr. Sultan Al Jaber, CEO of Masdar. “WinWinD is at an interesting phase and is set to expand into a truly global wind company servicing several key markets like Scandinavia, USA, Europe, the Middle East and Asia”, added Al Jaber.

WinWinD is a manufacturer active in the design, development and assembly of technologically advanced 1 and 3 MW wind turbines. Headquartered in Helsinki, Finland, WinWinD has corporate offices in Oulu, Finland and Chennai, India and following this deal there are plans to expand elements of the operation into Abu Dhabi.

This investment signals Masdar’s strategy to lead in all forms of renewable energy. It allows Masdar to move rapidly into the worldwide wind market enabling it to diversify its renewable energy asset portfolio. With a string of projects already under development, buying into a turbine manufacturer underpins Masdar’s strategy of investing in all aspects of the renewable energy value chain.

Masdar will work in partnership with the management of WinWinD and its majority owner, Sterling Infotech Group to accelerate WinWinD’s geographic expansion in Europe, India and the Middle East. Masdar will hold three board seats on the WinWinD board and will share important experience gained in the renewable energy domain.

Vaidyanathan Srinivasan, Group Chief Executive Officer of Sterling Infotech Group (SIG) the main shareholder of WinWinD said: “This deal is a great opportunity for WinWinD and its shareholders, and it will propel the company into significantly larger markets. Masdar has made a strategic move by investing in a company that has grown steadily over the past few years,” he said.

WinWinD, one of the top turbine manufacturers in the world in the multi-megawatt segment, has established technological expertise, and has strong growth potential. WinWinD will benefit from the investment by allowing the company to accelerate its expansion plans to enhance its position in new markets and become a significant player in the global wind energy. A large proportion of Masdar’s investment in WinWinD will go into expanding its Indian operations giving the company a better global performance.

“For WinWinD, the investment is a testament to the high quality of Finnish wind energy know-how and the increasing global demand for renewable energy,” says Lassi Noponen, WinWinD’s Executive Chairman. “The deal provides a solid basis for developing our company further. This investment also beacons the breakthrough of Winwind’s utility class technology and ensures that wind energy remains a key part of the renewable energy solutions required to meet the ever increasing global demand for energy. Masdar’s commitment and investment provides us with a springboard for future success,” he said.

WinWinD’s low speed turbine design makes it suitable for low wind conditions while catering for high energy yield, low maintenance and longer life. The investment will make Masdar a viable player in the wind power industries and allow it to lead the way globally in future energies.

Source: Press release distribution via India PRwire

About Masdar

The Masdar Initiative is Abu Dhabi’s multi-faceted, multi-billion dollar investment in the development and commercialization of innovative technologies in renewable, alternative and sustainable energies as well as sustainable design. Masdar is driven by the Abu Dhabi Future Energy Company (ADFEC), a wholly owned company of the government of Abu Dhabi through the Mubadala Development Company. In January 2008, Abu Dhabi announced it will invest $15 billion in Masdar, the largest single government investment of its kind. For more information about the Masdar Initiative, please visit www.masdaruae.com.

About WinWinD

WinWinD Oy supplies one and three megawatt wind turbines based on the low speed technology. The most significant benefits obtained have been operating reliability and high availability. An advanced planetary gear solution and low speed syncronous generator form the heart of the concept, which combines the reliability of a modern direct drive and the compactness of the traditional high speed gear system. Low rotational speed together with the proper dimensioning ensures reliability and high availability. WinWinD Oy head office is located in Helsinki with assembly plants in Finland and India.

About Sterling

Sterling Infotech Group is a multi-billion dollar Group with varied interests in high growth business sectors including communication, media, renewable energy, real estate, agriculture and food & wellness. Sterling pioneered computerization in India in the 1980’s by offering affordable personal computers. This affordability facilitated small and medium enterprises to grow multi-fold in their operations. In addition, Sterling revolutionized the mobile communication industry in the 1990's by being among the first to launch cellular services in India. To find out more about Sterling, visit www.sig.co.in.

IBC SOLAR’s photovoltaic systems enable companies, institutions and homes to reduce their energy costs and receive uninterrupted energy during a power cut. The system is part of the German Energy Agency’s (dena) Solar Roofs programme which helps set up beacon projects that demonstrate the implementation and use of solar power by institutions such as schools, hospitals and other similar operations. .

At the Goethe-Institut in Bangalore, also known as Max Mueller Bhavan, IBC SOLAR has finished installing 35 solar modules with a total capacity of 7.8 kilowatt peak. The photovoltaic system is connected to the house grid and feeds the electricity into its grid. It allows the institute to use the energy immediately and, in a case of a grid disconnection, the system will switch instantly to the backup mode in order to supply the institute directly. The solar energy helps to maintain teaching activities and secure smooth operations.

Evelin Hust, Director of the Goethe-Institut/Max Mueller Bhavan Bangalore, said: "We are very happy and proud to be part of this innovative project. Renewable energies are the call of the day and Bangalore’s weather is extremely suited to this technology. Thanks to this solar system power we are already saving a lot of money on the cost of running and maintenance of our generator which is a significant expense given the current price of diesel."

During this project IBC SOLAR worked closely with its new installation partner SELCO Solar, a leading provider of PV systems in Karnataka combining German and Indian skills for a smooth and successful installation. It is anticipated that after the installation at the Goethe-Institut, IBC SOLAR will cooperate with further solar power partners and investors across India to take photovoltaic energy to other parts of the country.

Especially in India with its high solar irradiation, photovoltaic energy is an effective means to supply buildings or whole villages and cities reliably with electricity. The possibilities are widespread and range from small off-grid systems to solar power plants.

Udo Moehrstedt, Founder of IBC SOLAR said, “Solar energy has proven to be a cost-effective, reliable and efficient source of energy. In the light of the current rising energy costs the demand for alternative energy is increasing among businesses and institutions alike. Our aim is to foster PV technology and promote its use in India. The project with Goethe-Institut is an ideal platform to showcase solar power in action and the impact that photovoltaic technology can have in India.”

Moehrstedt added, “In this initial phase of our work in India, we are currently building the right partner base. SELCO is an important first partner for our network here which we plan to expand to other key Indian cities. Together with our partners we want to deliver photovoltaic systems that supply commercial and private users with clean and reliable energy. Especially for businesses this is a major advantage as solar systems act as back-up systems that limit the effect of grid outages and ensures business continuity.”

Mr. Harish Hande, Managing Director of SELCO Solar said, “This is an important project between India and Germany and will demonstrate the use of solar energy in the Indian context. We’re very proud to partner with IBC SOLAR on this project and hope to develop an ongoing relationship with the company to implement more solar power based projects in India.”

Source: Press release distribution via India PRwire

About IBC SOLAR

Since it was established in 1982, IBC SOLAR has been exclusively active in the photovoltaics sector. The IBC SOLAR group of companies with several subsidiaries in Europe, Asia and USA currently supplies the global market with high-performance systems of every magnitude, from single-family home roofs, to large-scale solar projects. To date more than 350 megawatts (MWp) of photovoltaic power have been delivered in more than 50,000 solar power systems around the world.

About German Energy Agency (dena)

The Deutsche Energie-Agentur GmbH (dena) – the German Energy Agency – is the German competence centre for energy efficiency and renewable energies. Its manifold objectives include the rational and thus environmentally friendly production, conversion and use of energy, and the development of sustainable energy systems with a greater emphasis on renewable energy sources. Its shareholders are the Federal Republic of Germany, the KfW Bankengruppe (KfW banking group), Allianz SE, Deutsche Bank AG and DZ BANK AG. www.dena.de/en

About dena-Solar Roofs Programme

Through its four year-old Solar Roofs Programme for Foreign Market Development, the German Energy Agency (dena) helps German solar energy enterprises cultivate international markets for their products with support from the German Federal Ministry of Economics and Technology. The dena-Solar Roofs Programme provides a framework for the planning and installation of solar thermal energy and photovoltaic power systems in promising foreign markets, often at German international schools or Goethe Institutes. The initiative delivers training programmes and public relations and marketing efforts to accompany these installations. The goal of these ‘beacon projects’ is to demonstrate the high quality of German renewable energy products and systems. www.exportinitiaitve.de/solardachprogramm

About SELCO INDIA

SELCO INDIA, a social enterprise, provides sustainable energy services to under-served households and businesses in India. Through its 25 energy service centers in India, SELCO has brought reliable, affordable, and environmentally sustainable electricity to more than 100,000 homes and businesses since 1995. From solar lighting and electricity, to clean cooking and wireless communications, SELCO aims to empower its customers by providing complete packages of product, service and consumer financing, in a very holistic manner.

GEEC, a coal bed methane exploration and development company promoted by Yogendra Kumar Modi, is listed on the London Stock Exchange’s Alternative Investment Market (AIM).

The issue, which is awaiting approval from the Securities and Exchange Board of India (Sebi), is unique in that such sponsored issues by Indian companies (like Infosys) have so far been restricted to overseas share sales by Indian companies.

Investment banking sources said GEEC plans to mop up around Rs 1,000 crore, half of which will accrue to the company and the rest to shareholders.

Notices sent to the holders of GEEC’s Global Depository Receipts (GDRs) said the company is planning a public offer of 92.6 million shares, comprising a fresh issue of 46.6 million shares and roughly an equal number offered by shareholders.

Depending on the response, the company has an enabling provision for a “greenshoe option”, meaning the company can keep oversubscriptions to the extent of 15 per cent of the issue size.

The company has appointed ABN Amro, Enam Securities and DSP Merrill Lynch as lead managers for the IPO.

The company has a paid up capital of Rs 54.46 crore, comprising Re 1 each, which will increase to a little over Rs 59 crore.

GEEC was listed on AIM in 2005 and some of the major shareholders include UK-based finance conglomerates AEGON and Fidelity. The promoters hold around 66 per cent, of which nearly 32 per cent is in the form of GDRs.

The notice to GDR-holders explains that the listing on the Indian markets is driven by the need for liquidity given that low trading levels on AIM make it difficult for investors to enter or exit the company.

The Indian listing is also necessary because under Sebi norms, a company registered in India but listed overseas cannot opt for a follow-on issue overseas or a private placement without listing on the Indian bourses first.

The only two other companies that fall in this category are Rediff.com and Satyam Infoway, both of which are registered in India but listed on Nasdaq.

Meanwhile, bankers are in talks with Sebi over the sponsored portion of the issue. “There are some issues in term of disclosing the name of the public shareholder at the time of filing the draft red herring prospectus,” sources said.

Source: Press release distribution via India PRwire

About GEECL:

Great Eastern Energy Corporation Ltd. (GEECL), a part of the YKM Holdings Group, is the first Private Sector Company in India to explore, develop, distribute and market Coal Bed Methane. In December 2005, GEECL became the first Indian Company to be listed on the London Stock Exchange's Alternative Investment Market (AIM). The notional market capitalisation of the Company as of July 13, 2007 was GBP 172 million / US$ 350 million.

The organization, headed by Mr. Y.K. Modi, is exploring & developing production wells for Coal Bed Methane in Raniganj coalfields, West Bengal. GEECL has completed 23 vertical production wells. All the wells are drilled, logged, cased, cemented and fractured. Apart from this 8 Core hole have drilled for desorption and other studies. Learn more about GEECL on http://www.geecl.com.

Prashant Modi - President & COO

Mr. Prashant joined the YK Modi Group in 1996 and was involved with the restructuring of a group company operating a significant tea estate business and its subsequent sale to Unilever. Prior to this he held positions at Qualcomm. Inc. in San Diego, USA and ANZ Investment Bank in London. He holds a degree from Boston University in Bachelor of Science in Business Administration. His concentration was in finance with a minor in economics. He has also completed an executive education program at Harvard Business School. He is responsible for the day to day affairs of the Great Eastern Energy Corporation Limited. Read more about Prashant Modi on http://www.prashantmodi.com

He further elaborated that, “Each audit will take in 4-6 weeks and we will be doing 33 audits in one year. The total cost of the project is Rs.38 lakh and Electrical energy savings will be to the tune of 5 to 10% of total energy bill after the audit”.

MITCON, a 25 year old consultancy organization promoted by financial institutions, banks and state organizations acts as a bureau of energy efficiency (BEE) approved energy auditor and has completed over 400 energy audits in India, Spain, Belgium and Seychelles. MITCON intends to orient REL’s customers in the areas of energy efficiency improvement, leading to reduction in electricity consumption and their cost of bills.

In the present scenario, such initiatives are needed to reduce electricity shortages and pollution.

“The carbon market, which is growing at a fast pace in India and is estimated to be of USD 5 billion, has started to show its fruitful outcome for some industries. In the past few months, 62 Indian projects have received Rs. 29 crores with MITCON’s assistance, of which 32 projects were from Maharashtra”, Informed Mr. Deepak Zale, Executive Vice President, energy and carbon services, MITCON Pune.

Some of the companies that have received carbon credits include, Tata Motors Ltd., (about Rs.1524 lakh) Vanaz Engineers, (about Rs.18 lakh) Mahalakxmi Constructions (about Rs.35 lakh) , Alkyl Amines, (about Rs. 61 lakh) Saroj group of Industries (about Rs.100 lakh), RDS Constructions (about Rs.35 lakh) Mayura Steels, (about Rs. 31 lakh) etc. Apart from these, leading lenders of the Indian economy including State Bank of India, ICICI Bank, IDBI Bank, HDFC Bank have signed MOUs with MITCON for providing carbon credit services to their borrowers; this itself gives a kind of testimony of MITCON’s success.

Source: Press release distribution via India PRwire

ABOUT MITCON CONSULTANCY SERVICES LTD.

MITCON Consultancy Services Ltd, a Pune based consultancy organization provides complete solutions to develop a project that has the potential to earn carbon credits. MITCON also assists in the registration of the project with UNFCCC as well as in identifying buyers from the developed countries. Some of the companies that have received carbon credits include, Tata Motors Ltd, Ghodawat Industries, Vanaz Engineers, Alkyl Amines, Saroj group of Industries, Mahalakxmi Constructions Mayura Steels, Universal Starch, Hindustan Distilleries, Unique Sugars Ltd. MITCON is also engaged with several companies including, VRL Logistics, IPCA, Sterlite Industries, WMI cranes, Rajmal Lakhichand Jewelers, Ranka Jewelers, Asahi Glass etc for acquiring carbon credits.

There is a tremendous potential for the Indian industries to expand its monetary inflow through the use of environmental friendly technologies. With the proper guidance even a small-scale company has the potential to earn a huge sum.

This transaction would enable ICSA to manufacture Energy Meters on its own. ICSA shall be in a position to use the brand name of ECE for about six months, after which these energy meters shall be marketed under the brand name of ICSA.

“This move would help us gain further fillip in the industry. We shall be adding more features to the existing product and turning the Energy Meters into Smart Meters, thereby making the product more viable for the consumer,” said Mr. C. Bala Reddy, CMD, ICSA India Ltd.

Both the parties have also entered into a Non-Competing Clause whereby ECE shall not venture into the Energy Meter business for a period of 5 years from the date of this agreement.

ECE shall be providing specified assets, relevant designs, drawing documents, source code, and technology files currently available with them to ICSA. ICSA has agreed to pay Rs 4 crores along with taxes as applicable for the specified plant, machinery, drawings, and designs towards the purchase consideration.

In June, ICSA was awarded a 20 MW Wind power project by Non-Conventional Energy Development Corporation of Andhra Pradesh Ltd. ICSA secured design nod for the Automatic Meter Reading Apparatus and Protector for oil and gas pipelines from the Patent Office. ICSA’s solutions for the power sector identify Transmission and Distribution (T&D) losses and monitor power consumption using GSM Network.

Source: Press release distribution via India PRwire

About ICSA (India) Ltd.

ICSA(India) Ltd is in the business of construction of power transmission lines and substations. Apart from this, the company provides embedded technology for the power sector. The company's product line includes: Intelligent Automatic Reading System, Multiplexer Unit, Distribution Transformer Monitoring System, Substation Controller, Micro Remote Terminal Unit, Theft Detection Devices, and Pole Top RTU.

The company has developed products suitable for power utilities in the field of Energy Management, Energy Audit, and Control applications and provides versatile Data Acquisition Systems using GSM, CDMA, and RF.

The company, formerly known as National Hydroelectric Power Corporation Limited, has appointed SBI Capital Markets Limited, Kotak Mahindra Capital Company Limited and Enam Securities Private Limited as the lead managers for the public issue.

“We have submitted the draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (Sebi) today,” said Mr.S K Garg, Chairman and Managing Director, NHPC.

NHPC Limited, a Mini Ratna (Category I) Central Government Public Sector Unit is dedicated to the planning, development and implementation of an integrated and efficient network of hydroelectric projects in India. NHPC has developed and constructed 13 hydroelectric power stations and the total installed capacity is currently 5,175MW.

Source: Press release distribution via India PRwire

About NHPC

NHPC Limited, a hydroelectric power generating company, has filed its Draft Red Herring Prospectus with SEBI for entering the capital market with an IPO through the book-building route. The board of state-owned hydropower generator approved the proposed Initial Public Offering (IPO) of the company on Tuesday, to raise funds for its future expansions and part finance the construction and development costs of certain of identified projects. The Public Issue of 1,67,73,74,015 equity shares comprises a fresh issue of 1,11,82,49,343 equity shares by NHPC Ltd and an offer for sale of 55,91,24,672 equity shares by the President of India acting through the Ministry of Power, Government of India.

Disclaimer

The Company is proposing, subject to market conditions and other considerations, a public issue of the equity shares and has filed its Draft Red Herring Prospectus with Sebi. The Draft Red Herring Prospectus is available on the website of SEBI at www.sebi.gov.in and the website of the Book Running Lead Managers at www.enam.com, www.kotak.com and www.sbicaps.com.

This press release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any equity shares, not shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision.

This press release has been prepared for publication in India and may not be released in the United States. This press release does not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended or an exemption therefrom. The issuer or selling security holder has not and does not intend to register any securities under the US Securities Act of 1933, as amended, and does not intend to offer any securities to the public in the United States. The Company will not be registered under the US Investment Company Act of 1940, as amended, and investors will not be entitled to the benefits of that Act. No money, securities or other consideration from any person inside the United States is being solicited and, if sent in response to the information contained in these written materials, will not be accepted. Securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States in the absence of registration under the US Securities Act of 1933 or an exemption from registration.

Any potential investor should note that investment in equity shares involves a high degree of risk. For details, see the section titled “Risk Factors” of the Draft Red Herring Prospectus, which has been filed with the Sebi and is also available on the websites of the BRLMs are set forth above.

The company has bagged Engineering Procurement Contract (EPC) job for 30 MW works and 60 KLPD Distillery Plant with 6000 TCD sugar for Gangakhed Sugar & Energy Pvt Ltd., in District Parbhani. The work is worth Rs 329.62 crore. This is the biggest single order Sunil Hitech has bagged since its inception which marked the entry of the company into EPC business. The order is a major stepping stone for the company.

The company will be undertaking a Rs. 216 crore earthwork project for Rajwest Power Ltd. at Barmer in Rajasthan for the excavation and disposal for a Raw Water Reservoir. The quantum of excavation involved is to the tune of 80 Lacs Cum .

SHEL has bagged a 2X300MW, Unit 1&3, Boiler and TG Erection works for JSW Energy Ratnagiri Ltd., at Jaigad. A 1x250MW, Unit-2, Turbine Generator erection works for Mahagneco at Parli Thermal Power Station in Maharashtra will alsobe taken up by SHEL. The total value of these works is Rs 103.6 crore.

The orders bagged by Sunil Hitech in the first quarter amounts to 64.2% of the order book position ending March '08.

Source: Press release distribution via India PRwire

About Sunil Hi-Tech Engineers Ltd.

Sunil Hitech Engineers Ltd. (SHEL) specializes in fabrication, erection, testing and commissioning of Thermal Power Plants with high precision quality and timeliness. SHEL offers a diversified assortment of products and services catering to the Power, Process and Piping Industries as well as Sugar Industries, Steel Plants, Irrigation Projects and Raw Water Systems.

As part of its portfolio, SHEL undertakes erection of Boilers and Auxiliaries of upto 500 MW capacity, EPC Projects for thermal power stations, erection of EHV transmission lines and sub-stations, manufacture, supply, erection, testing and commissioning of super-heater coils & bends and erection of sugar mills.

Division wise performance and highlights are as under:

During the first quarter of the financial year 2008-09, the Lubricants Division achieved a gross turnover of Rs. 126.34 Crores as compared to Rs. 81.15 Crores in the corresponding quarter of the previous year. The Division achieved a volume growth of 30% and improved product mix, resulted in an increase in margins by around 50%

The Lubricants Division stepped up distribution efforts and grew sales in the two wheeler segment. Consumer acceptance of the newly introduced products for this segment has been very encouraging. The media campaign released across TV channels – national & regional, communicated the product benefits of Gulf Pride 4T Plus – 10W 30. This enabled the Division to achieve rapid growth at the top end of the motorcycle segment. To build the brand proposition of “Endurance” the Division conceptualised and sponsored the “Gulf Overdrive Xtreme Endurance Challenge” where two Hero Honda Karizma motorcycles set a new record of travelling from Indian’s Southernmost tip -Kanyakumari to Khardungla(Leh) –World’s highest motorable road in 5 Days, 5 hours & forty-five minutes.

Focus on the diesel engine oil segment was continued as we introduced new product offerings for the light commercial vehicles – Gulf Cargo Power. Gulf Super Duty VLE for heavy commercial vehicles requiring CI 4 grade products was also launched. To increase acceptance of the range of ‘Ashok Leyland – Gulf Oil’ co-branded oils a press campaign, supported with outdoor media, was launched for Gulf Super Fleet LE Max - India’s First Long Drain Engine Oil with a drain interval of 36,000 km.

The Division organised a special series of events to create awareness of the partnership of Gulf Oil with Aston Martin Racing in India. On April 18th the actual car - DBR9 009, that raced at Le Mans – 2008 and won the GT1 category, was unveiled to the Indian media, sports enthusiasts at Mumbai, followed by a live pit-stop demonstration on April 19th.

The Lubricants Division also achieved considerable growth in the sale of ancillary products such as a wide range of Gulf Filters and Gulf Car-care products.

EXPLOSIVES DIVISION

The Explosives Division continued to make good progress in line with the increase in mining activities in the Country, and achieved turnover of Rs.53.21 crores in Q1 as compared to Rs.40.80 crores of corresponding quarter of the last year, representing double-digit growth of 30%. This was accomplished by focusing on non-coal, export and metal cladding segments. The trade market business segment also gave good returns.

Exports of the explosives and accessories have achieved growth of 20% compared to Q1 of the last year.

The Division is continuing its sustained efforts by expanding non-CIL and Metal Cladding and Special Products segments. Metal Cladding group is growing at a fast rate and recorded 174% growth over the Q1 of the last year.

The service income of the IDLconsult Division in the first quarter was Rs. 46.73 crores as against Rs. 33.71 crores in the corresponding quarter of previous year registering a growth of 39%.

Contributors to this growth were the three ongoing large coal mining contracts in the Singrauli region under Northern Coalfields Limited (a CIL subsidiary) and the Manuguru Project under Singareni Collieries.

The Division is successfully continuing its Mining services at the iron ore mines in the Barbil region with the Aditya Birla Group and other Companies.

The Division has started its first Manganese ore mining work with Adhunik Group in the Barbil.

In terms of volume of rock being handled, the Division has grown as the largest Mining service Provider in the country in a very short period due to its strengths in Mine planning, control and quality execution of projects awarded.

Besides total mining services, the Division has taken up a few assignments with plans to increase business in the fast growing infrastructure sector based on the successful execution of contracts in the Delhi Metro Rail Project, Structural works at Jamnagar under Reliance and at Outer Ring Road in Hyderabad. The Division has now contracted for large structural contracts from the Aditya Birla group for their new Alumina plant in Orissa. The work started in June 08.

Due to the high technical standard and quality of work, the Division is being offered various contracts in the Mining and construction Sectors. Currently the Division has about Rs. 900 crores value of orders booked.

The turnover of the Division for the quarter was Rs. 14.22 crores mainly on account of the Cephalosporins segment. Two more Cephalosporins namely Cefprozil and Cefditoren Pivoxil have been developed in the R&D and are ready for commercialization.

The Division has also commercialized Ondansetron, used for controlling Nausea following Chemotherapy. Two more products have been developed in the Laboratory and are ready for commercial production in early Q2.

Work on the IT Park on 40 acres on the Company’s property at Yellahanka, Bangalore has progressed well. Plans finalized by the architects have been sent to the corporation, approval of which is expected shortly. The joint development agreement for the property has been finalized. The construction work is expected to start once the relevant approvals are received.

The Hyderabad property development plans have also progressed and the approval from the Government for development is expected shortly.

In the meantime, the property bank of the Company comprising of 40 acres in Bangalore and 100 acres in Hyderabad which is planned to be developed has been revalued as on March 31, 2008 at Rs. 1839 crores.

Source: Press release distribution via India PRwire

The Joint Venture shall provide high quality bitumen and modified bituminous products to the road construction industry. The first modified bitumen production facility is already commissioned and operational at Singhari, close to Jodhpur in Rajasthan. The Joint Venture has already made an investment and expansion plans are already underway to be able to supply specialty bitumen products across the Indian sub-continent. The company plans to build more plants in the near future in different states in India for a better supply of infrastructure projects in India.

The production of polymer modified bitumen (PmB), crumb rubber modified bitumen (CRMB) and bitumen emulsions, with the support of TOTAL’s Research Centre in Solaize (France) has already commenced from the plant at Jodhpur. TOTAL patents and trademarks with a proven record in the world such as Styrelf, Flextal and Emulsis are being used in order to manufacture the products the Road Construction Sector in India is very much demanding.

At a function to launch the Joint Venture between Total and Vinergy , in Delhi, Mr. Murli Deora, Hon’ble Minister for Petroleum said : “With the ingress of Total with their patented expertise in this field, the Indian public can look forward to roads comparable to the best across the world. Vinergy has made a sound decision in tying-up with the leader in bitumen products”.

Source: Press release distribution via India PRwire

ABOUT TOTAL

Total is one of the world’s major oil and gas groups, with activities in more than 130countries. Its 96,000 employees put their expertise to work in every part of the industry – exploration and production of oil and natural gas, refining and marketing, gas and power and trading. Total is working to keep the world supplied with energy, both today and tomorrow. The Group is also a first rank player in chemicals. www.total.com

Vinergy International Pvt. Ltd. is a professionally managed, rapidly expanding Indian company with a niche in marketing, distribution and logistic of various petroleum and chemical products. The company has strongly emerged as an end to end solution provider to the Industry across product spectrum in India in energy products, chemicals, liquid Fuels, Bitumen, lubricants, power, petrochemicals, solvents, bunkering. Vinergy has storage arrangements at different Port locations in India from where they supply high quality Bitumen to the Road Sector. They are also one of India’s leading Bunker fuel suppliers to International and coastal ships at Indian shores.www.vinergy.in

For the year ended March 31, 2008, PAT climbed 177.62% YoY to Rs. 21 crore from Rs. 7.56 crore. The company’s Net Sales for FY08 stands at Rs. 306.30 crore, as against Rs. 144.80 crore last year, a hop of 111.52%.

“Steady growth, together with our progress till date strengthens our resolve to be the most innovative and efficient contributor to the Indian power industry.” said Mr. Sunil Gutte, Joint Managing Director, Sunil Hi-Tech Engineers Ltd.

In April, Sunil Hi-Tech bagged projects amounting to Rs.100.68 crore from JSW Steel and NTPC.

Source: Press release distribution via India PRwire

About Sunil Hi-Tech Engineers Ltd.

Sunil Hitech Engineers Ltd. (SHEL) specializes in fabrication, erection, testing and commissioning of Thermal Power Plants with high precision quality and timeliness. SHEL offers a diversified assortment of products and services catering to the Power, Process and Piping Industries as well as Sugar Industries, Steel Plants, Irrigation Projects and Raw Water Systems.

As part of its portfolio, SHEL undertakes erection of Boilers and Auxiliaries of upto 500 MW capacity, EPC Projects for thermal power stations, erection of EHV transmission lines and sub-stations, manufacture, supply, erection, testing and commissioning of super-heater coils & bends and erection of sugar mills.

The orders bagged were for supply and erection of 132KV, 33/11KV, and 11KV Substations and Lines and erection, testing and commissioning of high tension, low tension distribution transformers.

Speaking about the orders bagged, Mr. Bala Reddy, CMD, ICSA (India) Ltd. said, “ICSA undertakes large power projects across the country and we want to balance our orders evenly between private and public sector companies.”

Source: Press release distribution via India PRwire

About ICSA India Limited

ICSA has been at the forefront of developing technology solutions for the power, oil, water and gas sectors to identify Transmission and Distribution losses, and monitor power and oil consumption using the GSM network. By identifying distribution losses, which are a huge burden to the exchequer, ICSA helps reduce the losses suffered by the companies. An ISO 9001:2000 company, it undertakes large power projects across several countries in Asia and has offices in India, Singapore and Malaysia.

KSK Energy Ventures Limited was established in 2001 to capitalize on the emerging opportunities in the Indian power sector and focus on developing, operating and maintaining power projects.

The Company proposes to utilize the net proceeds of the Issue to part fund its investment in Wardha Power Co. Pvt Ltd, either directly, or through KSK Electricity Financing India Pvt Ltd, to finance the equity component of the 1,800 MW coal-based thermal power plant at Chhattisgarh. KSK Energy Ventures Limited has received an aggregate Rs. 415.34 crore pursuant to subscription in the Pre-IPO placing of Equity Shares at Rs.240/- per share by:

1. Macquarie Bank Limited, United Kingdom,

2. Tree Line Asia Master Fund (Singapore) Pvt. Ltd, Singapore,

3. GE Capital (International), Mauritius,

4. Universities Superannuation Scheme Limited, United Kingdom,

5. Infrastructure Development Finance Company Limited, India and

6. Axis Bank, Limited, India

KSK Energy Ventures has operational power plants capable of generating 144 MW of power, and power projects under construction that are capable of generating an aggregate of 675 MW of power. It has entered into multiple PPAs with captive consumers. The Company has three power projects under development and five planned projects that are capable of generating an aggregate 8,318 MW of power.

The Company supplies power to a combination of industrial and state-owned consumers in India.

Disclaimer
KSK Energy Ventures Ltd is proposing, subject to market conditions and other considerations, a public issue of the equity shares and has filed the Red Herring Prospectus with Registrar of Companies (ROC), Hyderabad. The Red Herring Prospectus will be available on the website of SEBI at www.sebi.gov.in, the website of the Book Running Lead Managers at www.kotak.com, www.sski.co.in, www.morganstanley.com/indiaofferdocuments, www.edelcap.com, www.axisbank.com and the website of the Company at www.ksk.co.in.

This press release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any equity shares, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision.

The Equity Shares have not been and will not be registered under the US Securities Act (“the Securities Act”) or any state securities laws in the United States and may not be issued or sold within the United States or to, or for the account or benefit of, “U.S. persons” (as defined in Regulation S under the Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

Any potential investor should note that investment in equity shares involves a high degree of risk. For details, see the section titled “Risk Factors” of the Red Herring Prospectus, which has been filed with the Registrar of Companies.

Source: Press release distribution via India PRwire

The 60 MW captive coal fired power plant will be a part of Uttam Galva Steels Ltd, and will be commissioned within 24 months with an investment of Rs. 300 crores, which will be raised through a mix of debt and internal accruals. The company has applied to the Govt. Of India for the necessary coal linkages.

Commenting on the company's initiatives, Mr. Ankit Miglani, Director (Commercial), Uttam Galva Steels Limited, said, "The plant will help the company to enhance its growth. We see this as one of the major initiatives to reduce our costs and protect margins".

With the increase in demand of steel and the increased efficiency in the production capacity the company is looking at a 30% higher sales target for 2008-09.

Source: Press release distribution via India PRwire

About Uttam Galva Steels Limited:

Uttam Galva Steels Limited is a one of India's largest manufacturer-exporter of value added steel products. In the domestic market, the company is a major supplier to the automobile, white goods, general engineering and construction industries. Some of its major end users include Bajaj Auto, Bajaj Tempo, M&M, Kirloskar, Crompton, L&T, etc. The company currently exports its products to more than 135 countries including Australia, France, Germany, Greece, UK and USA.

This 1000 MW coal based power unit will be coming up at Shadol District of Madhya Pradesh and will be spread over 1000 acres of land. The estimated investment in this project will be to the tune of Rs. 5000 crores. Work on the project will commence from early 2009.

Speaking about the project Mr. Mannoj Kumar Jain said, “We are happy to announce our latest project in the power sector and we are thankful to the Government of Madhya Pradesh for the cooperation extended. Developing this project and commissioning it within the agreed time period will be our primary focus now. We have set a target of setting up 5,000 MW power plants all over India in the next 5 years.”

Jain Energy Limited is also setting up a 1000 MW coal based power plant in Chattisgarh. The plant would be set up at Balpur of Janjgir- Champa district. Additionally they are also in talks with Governments of Orissa, Jharkhand and West Bengal for setting up similar projects in these states. Jain Energy has also given Expression of Interest for Hydro Power projects in Arunachal Pradesh and Bhutan.

Source: Press release distribution via India PRwire

About Jain Group of Industries

Jain Group is a fast growing business conglomerate with Infrastructure as its core business and verticals like Jain Infraprojects [JIL] Jain Steel and Power [JSPL] Jain Energy [JEL] and Jain Realty [JRL]. Jain Infraprojects (JIL), the flagship venture of Jain Group commenced its operation in 2002, under the entrepreneurial initiative and guidance of the Group Chairman and Managing Director Mr. Manoj Kumar Jain, and is actively contributing towards transforming the Infrastructure scenario in India. The group strives for “Prominence through Excellence”, aims to be a dominant player in pan India perspectives. Jain Group of Industries has been successful in setting stretched goals for individual Strategic Business Units.

Work on the Nagarjuna Oil Corporation refinery is set to start shortly with the Tamil Nadu Chief Minister, Mr M. Karunanidhi, to lay the foundation stone for the project this month. The 6 million tonnes a year refinery would be the anchor tenant that would provide feedstock for more units to set up petrochemical based industries in the area.

The refinery is expected to go on stream in 33 months after construction work starts. The Rs 4,790-crore project with an equity investment of Rs 1,372 crore is promoted by the Hyderabad-based Nagarjuna Group.

The Nagarjuna Fertilizers holds a 51 per cent stake in the equity and Tata Sons 30 per cent. Other investors include Cuddalore Port Development Company Pvt Ltd holding 10 per cent, the Tamil Nadu Industrial Development Corporation 5 per cent and Uhde, Germany, the balance.

With the Nagarjuna refinery as the anchor tenant, the Tamil Nadu Government has proposed to the Centre to form a PCPIR over 250 sq km, covering Cuddalore and Nagapattinam, according to Mr S. Ramasundaram, Chairman and Managing Director, Tamil Nadu Industrial Development Corporation (TIDCO).

Source: Press release distribution via India PRwire

Nagarjuna Oil Corporation Limited is the flagship company of the Nagarjuna Group, Nagarjuna Oil Corporation Limited (NOCL) is setting up a 6 MMTPA refinery project at Cuddalore in Tamilnadu with an investment of Rs 5000 crores. Nagarjuna Fertilizers and Chemicals Limited (NFCL), a group company of Nagarjuna group along with Tamilnadu Industrial Development Corporation Limited (TIDCO), the investment arm of Tamilnadu Government as a co-promoter, are promoting NOCL. For further details, please visit us at: www.nocl.co.in

The market capitalisation of a total of 23 India-focused firms listed on AIM touched $6.33 billion from their respective dates of admission to the end of April, says a report from global consultancy Grant Thornton.

Further, the average increase in market capitalisation of these companies stood at 52 per cent during the same period. In terms of percentage gains, Great Eastern Energy Corporation (http://www.geecl.com) topped the list with a premium of nearly 600 per cent on its market capitalisation on admission.

The jump translates into 126 per cent growth on Compounded Annual Growth Rate (CAGR) basis, the report said. The firm, listed in December 2005, had raised capital worth about £19 million.

However, majority of the companies had witnessed substantial decline in their respective market capitalisation.

While nine India-focused companies saw their market capitalisation rise till April 14 firms recorded decreased valuation during the same period.

Companies such as UMP Plc, Hirco Plc, Indian Film Company (The) Ltd, Dev Property Development Plc and CBay Systems Holdings Ltd saw substantial decline in their respective valuations. – PTI

To know about Mr Prashant Modi, the President and COO of GEECL; visit the official websiteat http://www.prashantmodi.com .

Source: Press release distribution via India PRwire

Sunil Hitech Engineers Ltd, is amongst the very few companies in the Power and Infrastructural sector to have been awarded prestigious OHSA certification 18001:2007

‘Sunil Hitech Engineers has emerged as an aggressive player in the power sector’, says Mr. Ratnakar Gutte, Chairman & Managing Director. “Being an OHSAS company, SHEL will strive to reduce accident and injuries to a minimum through collective involvement, knowledge sharing and up gradation of all activities.”

Adds, Mr. Sunil. Gutte, Jt. Managing Director. “We are committed to protect our employees and those under our influence from Occupational ill health and injuries.”

Sunil Hitech Engineers Ltd. (SHEL) is also an ISO;9001-2000 Certified company specializing in Fabrication, Erection, Testing and Commissioning of Thermal Power Plants with high precision quality and timeliness. SHEL offers a diverse array of products and services, catering to the Power, Process, Piping and Sugar Industries, Irrigation Projects and Raw Water Systems.

SHEL’s list of client includes big players like, BHEL, NTPC, Reliance energy, Jindal steel &power, TATA and state electricity board Maharashtra, Chattisgarh, Madhya Pradesh and Thailand etc. It also undertakes projects in the transmission and distribution segment.

Source: Press release distribution via India PRwire

About Sunil Hitech Engineers Ltd

Sunil Hitech Engineers Ltd. (SHEL) specializes in Fabrication, Erection, Testing and Commissioning of Thermal Power Plants with high precision quality and timeliness. SHEL offers a diverse array of products and services, catering to the Power, Process, Piping and Sugar Industries, Irrigation Projects and Raw Water Systems.

SHEL offers a diversified assortment of products and services, catering to the Power, Process & Piping Industries as well as Sugar Industries, Irrigation Projects and Raw Water Systems. As part of its portfolio, SHEL undertakes erection of Boiler and Auxiliaries upto 500 MW capacity, EPC Projects for thermal power stations, erection of EHV transmission lines and sub-stations, manufacture, supply, erection, testing and commissioning of super-heater coils & bends and erection of sugar mills.

“The network will expand to other areas of West Bengal, including Kolkata, in due course,” GEECL president and chief operating officer Prashant Modi said in an email to The Indian Express.

The company has already spoken to the state government about extending CNG supply to Kolkata. “The response from the state government has been very positive,” said Modi. While no specific time frame has been set till now, a feasibility study is being conducted to see the costs involved and other modalities are being finalised, he added.

The company estimates a CNG demand exceeding 35 million cubic feet in Kolkata alone. Initially, the supply will begin with truck-mounted cascades. It may lay a pipeline, if needed, to Kolkata to cater to the demand.

The GEECL’s licence area covers 210 square kilometres and as per its market survey, it has found that the demand in the area is around 150 to 200 million metric standard cubic feet per day, which is more than double of the company’s peak expected production level. A UK-listed company, GEECL has already completed 23 vertical production wells. In January, GEECL has commissioned its new rig, Atlas Copco RD 20 III. It plans to invest approximately Rs 4,000 crore in upstream, midstream, and downstream activities in the state.

Source: Press release distribution via India PRwire

The attempt will be flagged off at Kanyakumari on Monday, 26 May at 5 pm. If they complete this arduous journey in five days, they will gain entry into the Limca Book of Records. Will they be able to do it?

After their flag off at Kanyakumari on 26 May the riders will go past Madurai, Salem, Bangalore and Kumool before halting at Hyderabad. From Hyderabad they will head to Gwalior via Nagpur, Sagar and Jhansi. From Gwalior they will go past Agra, Delhi, Ambala, Chandigarh, Manali, Jispa, Sarchu, Pang and Upshi before entering the final leg that takes them to Khardungla via Leh.

The riders will endure extremely cruel heat for a majority of the ride, while they ride through a 1000 kilometres a day. With time at a premium and minimal rest, they will brave extreme conditions, as they traverse through the country before arriving at the treacherous hills of Himachal & Jammu. Here they will face sub-zero temperatures as they climb thousands of feet above sea level to the world’s highest motorable road. The Gulf OVERDRIVE Endurance Xtreme Challenge 2008, is a true test of endurance under extreme conditions, testing the endurance of the riders, bikes, components and lubricants involved.

The determined riders attempting this journey are Karanbir Singh and Pankaj Trivedi. Karanbir Singh, OVERDRIVE’s motorsport ink-man has been a Team TVS and Team Yamaha rally team rider. His participation in four Raid de Himalayas (the world’s highest motorsport event) brings rich experience of the terrain and extreme climatic conditions in the hills. He personifies the adventurous spirit of OVERDRIVE besides lending his expertise to the challenging expedition. Pankaj Trivedi of India Outdoors fame is a world record holder and a successful adventurer, he recently rode from London to Marsimik La. He brings his mountaineering and biking experiences to the expedition.

Hero Honda is facilitating the challenge with two Hero Honda Karizma Motorcyles, spares and support. Overdrive chose the Karizma because the expedition is a race against time; speed, safety, ride comfort and handling while not compromising on durability were critical. The single-cylinder, 223cc four-stroke engine delivers 16.9bhp producing 18Nm of torque available through a refined five-speed brisk-yet smooth gear-box. The long wheelbase will enhance the handling and the well-placed saddle position and refined suspensions will make the ride more comfortable. Refined front disc brakes and large drum brakes at the rear will further enhance rider safety.

Gulf Oil’s Gulf Pride 4T Plus 10W-30 with its unique Pentatec Advantage will enhance the performance of these motorcycles. In addition to three basic features of regular motorcycle engine oils available in the Indian market today, namely Superior Engine and Gear Protection, High Temperature Protection and Superior Clutch Performance, Gulf Pride 4T Plus, 10W-30 offers a significantly longer oil change interval and ensures lower fuel consumption.

Gulf Oil has a rich history in motorsports. Endurance racing is engrained in its heritage. 2008 in fact, marks the 40th anniversary of Gulf’s victory at Le Mans. In India, Gulf Oil regularly supports the Gulf Dirt Track Challenge, Gulf Autocross and the Monsoon Scooter Rally.

Source: Press release distribution via India PRwire

About Gulf Oil

Gulf Oil Corporation Limited (GOCL), is a leading company in the lubricants market in India & markets a wide range of products/services for the automotive business including lubricants, car care, filters and lubrication systems. GOCL also has other divisions operating in the areas of mining/contracts, explosives, bulk pharmaceuticals & real estate.

The Gulf brand is one of the most instantly recognisable and powerful brands in the world. Gulf, as an original member of the “seven sisters” group of international oil companies, has enjoyed pioneer status in the industry for more than 100 years. Today, the Gulf brand is present in more than 80 coun