Why Study Abroad When IIPM Gives You 3 global Advantages!
India Inc. is surely taking giant leaps ahead, with its associates growing globally and at the same time inviting their counterparts to tap opportunities in the homeland too. Either way, India is proving to be a red-hot destination. And those who made big-biz news this fortnight, either made it big overseas or have come back to their soil, betting big on the untapped potential. The first newsmaker making his claim to fame is businessman turned Member of Parliament who has transformed his company from a moderate performer to a star performer.
Naveen Jindal, the Executive Vice Chairman & Managing Director of Jindal Steel & Power Ltd. (JSPL) is all set to shell out $2.1 billion to develop one of the largest iron ore deposits – El Mutun in Bolivia. The plan is to eventually come up with steel making facilities in the region. Naveen’s far sightedness has made his, the first Indian company to make such an investment in the 40 billion tonne iron ore reserve. Leaving behind international investors including Arcelor Mittal,JSPL will have access to 50% of these rich reserves in this 40 year contract. “It’s the first overseas deal for our company. Strategically, it is very important to have control of iron ore resources which this deal provides us with. We will be able to contribute a lot to Bolivia and our company will benefit immensely,” Naveen Jindal told 4Ps B&M. Under the leadership of Jindal, JSPL besides taking a leap of 35% in net profits to Rs.2.03 billion (in first quarter of 2007) has also been included in the coveted list of Emerging Companies in year 2001 by The Economic Times.
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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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