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Shiv Nadar Foundation enters pre-school education space

Mumbai: Shiv Nadar Foundation, a philanthropic venture of HCL Technologies’ Founder Shiv Nadar, is joining hands with the Magic Years Educational Society to set foot in the pre-school education space.

The Founder-Principal of the School, Shirley Madhavan Kutty and her team of educators will continue to lead the school which is now being rechristened as ‘the magic years, a Shiv Nadar School’, according to a press release.

Founded in 1978, ‘the magic years’ has consistently been rated as one of the top playschool in Delhi and follows a Montessori method of teaching, according to the press release. The school houses close to 200 students, 18 months to 5 years olds, from over 15 countries.

Gopal Karunakaran, CEO, Shiv Nadar School, said, “Our partnership with the magic years is a natural step for us towards integrating learning pedagogy in a way that the overall development of a child begins from an early age.”

Located in Vasant Vihar, Delhi, the magic years is spread over half an acre. Shiv Nadar Foundation aims to further enhance the school’s infrastructure to make it more learning-oriented and technology-enabled.

HCL aims Rs 5000 cr revenue by FY20′, focus on profitability

KOLKATA: State owned copper major, Hindustan Copper Ltd (HCL) was aiming at four-fold jump in topline to Rs 5000 crore with higher profitability and return on assets, a top company official said today.

“I want to set the ball rolling for Navaratna status for HCL by 2022-23. I am targeting Rs 5000 crore turnover in 2019-20 with better profitability and asset utilisation,” chairman and managing director Santosh Sharma said in his first interview to PTI after taking charge today.

Sharma has set his priorities for both short and medium term strategy.

“In the short run my focus would be on assets and jobs that would fetch ‘immediate revenue’ from all possible pending projects and maximisation of asset utilisation while working on projects that can give returns within next one year,” he said.

Sharma prior to his appointment as CMD was the director-operations in HCL. His deep knowledge in mining and processing will act as enabler to generate higher revenue and improving productivity in the company for better returns.

In 2016-17, the copper major did a turnover of Rs 1216 crore with a net profit of Rs 62.17 crore.

Outlining his short term focus projects that has potential to give return in six months, Sharma said by December the waste to wealth project of copper-ore tailing project at Malajkhand, Madhya Pradesh will help generate net income of Rs 60 crore a year.

Once this gets stabilised more such plants in other mines like Khetri will also be commissioned.

Bringing another 25,000 tonne capacity at Gujarat Copper Project by Kaldo furnace route for better value addition and ramping up the production to 50,000 tonne capacity, Sharma said.

HCL will now do third party conversion job (tolling) at Taloja Copper Project to generate cash from the idle capacity there, he said.

The other action plan includes completing the overhauling of flash smelter at Indian Copper Complex, bringing Surda and Kendadih mine in Jharkhand on production including the Banwas mine of Rajasthan.

While, explaining projects having potential to generate revenue in a year’s time include production of cupronickel alloy tube in collaboration with defence PSU MIDHANI and finer details are been worked out, the new company chief said.

HCL will also target ‘incidental copper-ore’ from underground Malajkhand Copper Project (MCP) from December 2018 much before this flagship project gets completed in the next five years.

Concentrator plant of three million tonne capacity at MCP and Rakha.

While, West Bengal is not left out in expansion plans of HCL, Sharma said the company was working on expanding capacity at Ghatshila plant to 25,000 tonne per annum from 18500 tonne with upgraded technology.

Total capex in all these proposed projects will be Rs 5000 crore over the next few years.

Hindustan Copper to invest Rs 2,000 crore in new project

KOLKATA: State-run

Hindustan Copper

is expected to shortly seek Cabinet approval to invest Rs 2,200 crore in a new project to extract copper using a technology that is being tried out on a commercial scale for the first time globally.

The project is part of theRs 6,000 crore capital expenditure that the country’s largest integrated copper producer has planned through 2021-22. The project is slated to come up at Chhattisgarh’s copperrich Rajnandgaon district, adjacent to HCL’s existing mine at Malanjkhand in neighbouring Madhya Pradesh.

“We hope to produce 1 lakh tonnes of copper cathode from this new project every year. With copper demand in India set to grow 8-9% annually, we hope to be able to add new capacity in tune with market growth,” Chairman KD Diwan said. He was speaking after the company’s board meeting. The project will boost HCL’s current 31,000 tonne cathode capacity by nearly threefold. “We hope to get government approval for the project within the next six months,” he said.

The project will involve hydrometallurgy, a method for obtaining metals from their ores through leaching. The technology will facilitate extraction of copper from sulphide ores prevalent in the country.

HCL will also be able to produce silver and gold as by-products. The company has shortlisted two possible technology partners, including an Israeli company, that are expected to bid for the job.

HCL is also gearing up to invest nearly Rs 100 crore to achieve full capacity at Jhagadia Copper Ltd (JCL), a company it acquired from Asset Reconstruction Company of India (ARCIL) for Rs 210 crore in Gujarat. The newly acquired unit, now renamed Gujarat Copper Project, has been revived and has started commercial production. HCL hopes to have installed copper cathode capacity of 50,000 tonnes next year.

HCL Technologies has signs five year deal with German chemical firm Wacker Chemie AG

The country’s third-largest software services firm

HCL Technologies

(HCL) has signed a deal with Wacker Chemie AG, a German multinational chemical company.

The five-year, end-to-end IT transformation services will establish a modernised digital workplace and improve its quality-of-service delivery.

Dirk Ramhorst, CIO and CDO, Wacker Chemie AG said that the firm wanted a partner to not only enhance its digital transformation journey but also support the ‘Wacker Digital Program,’ to help it become a digital leader in the chemical industry. “We have great confidence this partnership will improve efficiencies through potential harmonization of service delivery across IT areas while ensuring frictionless and streamlined processes,” he said.

Wacker’s engagement with HCL will lead to significant cost efficiencies through modernization, standardization and automation. HCL will be using AI-enabled virtual assistants to drive efficiencies for Wacker.

“Germany is a key strategic market for HCL and our engagement with Wacker is testament to our continued growth in the region,” said Rolf Frank Fehler, Senior Vice President, HCL Technologies. “We are excited to partner with Wacker, as we strongly believe digital transformation is a collaborative journey. HCL’s global delivery model and regional service management will help ensure delivery success at Wacker,” he added.