Archive: August 20, 2022

IIM Shillong Alumni To Recall Their Academic Era

20^th August 2022, Shillong The annual alumni reunion of the Indian Institute of Management, Shillong, (IIM-S), Melange 2022, will be held at the institute’s  Nongthymmai and Umsawli Campus from Saturday 20th August to Sunday 21st August 2022.

Melange 2022’ will feature a host of ice-breaking campus events (like Mock Kopda, God Sellers, Hark Back) and other interactive sessions based on different career verticals to facilitate conversations between the alumni and current students.

The Melange 2022 is being conducted in the wake of the Indian Institute of Management (IIM) Shillong’s belief in being connected with its students even after they graduate. While the institute has been conducting annual reunions for the alumni of its flagship MBA program, this time IIM Shillong will conduct the same for the students who graduated from it’s Post Graduate Program as well as the Post Graduate Program for Executives.

IIM Shillong values its alumni greatly and is aware of the significance of this association. Based on the interest among the alumni, the institute will make ongoing efforts to promote this channel for partnership and association.

Ecom Express launches one of the largest outsourced grocery fulfilment centers in Karnataka

Hyderabad, 20 August 2022: Ecom Express Limited, a new-age technology-driven end-to-end logistics solutions provider to the e-commerce industry, today announced the setup of its largest fulfilment center in Karnataka which is also one of the largest outsourced single-brand e-grocery fulfilment centers in India.

Situated in Hoskote, Bengaluru on an area of 2 lac square feet, the new fulfilment center is the second grocery facility set up by the Company in Karnataka. The new center will aid and support one of the leading e-grocery brands to deliver a wide selection of grocery products to consumers in and around Bengaluru city through its 100 hyper-local stores. With over 8 lac processing throughput per day, the newly built facility has the capacity of over 6 lac Cubic feet. It can store up to 10 million product units across categories, including daily household supplies, staples, tea, snacks and beverages, confectionery, personal care and more.

The Indian Online Grocery Market is expected to grow at a CAGR of around 33.00% to reach USD26.63 billion by FY2027. The fast changing consumer preferences, rising disposable income, new market entrants, and increased focus on expanding e-grocery business operations and adoption of attractive marketing strategies are the primary driving factors influencing the growth of the Indian online grocery market.1 Relatedly, the market expansion is fueling demand for new fulfilment/warehousing space.

The new center is a testament to the Company’s capabilities and solutions driven approach to support and stay relevant in the growing e-grocery market and bolsters its capacity to scale and invest in infrastructure equivalent to captive establishments.

K. Satyanarayana, Co-founder & Director, Ecom Express said, ‘’Today’s consumers are served with varied options thus placing heavy demand on e-grocery players to provide speedy fulfilment of their orders at value. This is a challenging proposition as it requires ability to manage complexities to match the demand at scale and size. The Company has built a network of fulfilment centers to cater to the growing and complex needs of customers and to be a solid partner in driving their fulfilment requirements in a much more efficient and flexible manner. We will continue to invest and expand our fulfilment centers in response to customer needs and are in the process of launching five more centers by the end of September 2022 to enable online grocery players to tap into this fast-growing market and benefit from the e-grocery boom.”

The new center in Hoskote will create close to 1000 direct and indirect jobs with roles ranging from data entry operators, associates for pick, pack and ship, inventory managers, loaders, unloaders, QC, security, housekeeping and management staff.

The facility operations are optimized by four state-of-the-art conveyors through a multi-level inventory structure and have various racking systems to accommodate fluctuations in demand. The center also has a vertical storage system for optimal space utilization.

The Company’s fulfilment network facilities are designed with efficient building systems that minimize energy usage. The new center integrates multiple dimensions of sustainability such as rainwater harvesting, sewage treatment plant, and safety measures, including fire detection, prevention, and supressing system, with employee evacuation plans.

Ecom Express’s Fulfilment Service vertical caters to B2B, B2C and e-grocery players to directly sell their products and be closer to buyers, without having to make large investments in infrastructure while providing end-to-end visibility of the operations. It caters to various sectors, including fashion, apparel, accessories, cosmetics, consumer electronics and more.

With 54 existing fulfilment centers spread across 38 cities and total operational area of 44 lacs square feet, Ecom Express already covers major markets with its presence. Most of the Company’s fulfilment centres are strategically located sites in proximity to urban centers and 20 per cent are in Tier III and Tier IV areas.

L&T commissions Green Hydrogen Plant at its manufacturing complex in Hazira

Surat, 20th, August 2022: Larsen & Toubro (L&T), an Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services, today announced the commissioning of a Green Hydrogen Plant at its AM Naik Heavy Engineering Complex in Hazira, Gujarat. The plant was inaugurated by Mr. Shrikant Madhav Vaidya, Chairman – Indian Oil Corporation Limited. The production of Green Hydrogen based on an alkaline electrolysis process has begun today. The plant will produce 45 Kg of Green Hydrogen daily, which will be used for captive consumption in the company’s Hazira manufacturing complex.

The Green Hydrogen Plant is designed for an electrolyser capacity of 800 kW comprising both Alkaline (380 kW) and PEM (420 kW) technologies and will be powered by a rooftop solar plant of 990kW peak DC capacity and a 500kWh Battery Energy Storage System (BESS). As part of the first phase of the project 380 kW Alkaline electrolyser has been installed, while the 420 kW PEM electrolyser along with solar plant capacity augmentation to 1.6 MW peak DC, will be part of future expansion.

Commenting on the occasion, Mr. Subramanian Sarma, Whole-time Director & Senior Executive Vice President (Energy), L&T said: “L&T is at the forefront of providing innovative and sustainable solutions that will help meet the energy needs of the future. We are proud that our engineers have set up the Green Hydrogen generation plant at Hazira complex and integrated it with the existing manufacturing shops for use of the green hydrogen.”

He added that “This initiative is in line with L&T’s climate leadership targets of Lakshya-2026 that will help reduce greenhouse gases footprint for us as well as our clients by approximately 300 tonnes/annum. We believe that Green Hydrogen is a promising alternative fuel, and this plant is a testimony that we are committed to create a greener tomorrow.”

The plant is spread across 3000 sq. meters, and the first phase of the project has been installed, tested, and commissioned. The scope involves the generation of high purity Green Hydrogen (99.99%) and Oxygen, and their captive consumption in the manufacturing shops. A blend of 15% Hydrogen with Natural Gas will be used as a fuel, and oxygen will supplement the existing usage in cutting and welding applications.

To ensure safe operation and production, the plant design incorporates both active and passive safety systems and will be operated through state-of-the-art control systems with remote monitoring functionality. In addition, an integrated data analytics platform designed by L&T will provide insights into the performance of the electrolysers and the overall plant.

As part of its ESG commitments, L&T has pledged to achieve water neutrality by 2035 and carbon neutrality by 2040. Making Green Hydrogen an integral part of its clean fuel adoption policy.

L&T’s climate change, energy efficiency and renewable energy programmes are aligned with the National Action Plan on Climate Change (NAPCC), released by the Government of India. The Company’s programmes are also being aligned to the Nationally Determined Contributions (NDCs) ratified by the Government of India during the COP 21 – Paris Agreement.

Indulge in a soulful Mid-Week Brunch at 3 Spices, DoubleTree by Hilton Pune-Chinchwad

Pune, August 20, 2022: As you hit the middle of the week you look for options to unwind or celebrate those little achievements at work. And what better way to keep your spirits up than by indulging in a ‘Mid-Week Brunch’ with your folks in a relaxed setting.

The Mid-Week Brunch at 3 Spices- a restaurant known for its Global cuisine is all set to dish out some appetising and mouth-watering preparations for its guests. The brunch includes a large spread of savoury dishes, desserts, and live counters of chaat and pasta. That’s not all, this lavish spread promises to feature some of the most appetising Sushi preparations for all those who have a special place in their heart for this sensational cuisine.

This Mid-Week Brunch aims to deliver something special for every diner out there. The brunch is curated specially to satiate your taste palate and helps you in getting through the hustle and bustle of the rest of the week. Celebrating those milestones and grabbing a hearty meal with your close ones is therapeutic in its own way. Come join us at 3 Spices, DoubleTree by Hilton Pune-Chinchwad and bask in the company of your friends and indulge in some tasty, flavoursome food!

DATE: Every Wednesday
TIME: 12:30 Pm- 3:30 Pm
VENUE: 3 Spices, DoubleTree by Hilton Pune-Chinchwad

The real estate sector in Mumbai is booming – once again

Article By – Ms. Hiral Sheth Gandhi, Director- Marketing, Sheth Creators

The real estate sector in Mumbai is again on the rise. With Covid-19 related restrictions been relaxed in the city, the infrastructural, economic and business activities have taken pace to make it the best time to invest in the real estate sector in the Mumbai Metropolitan Region. There are many factors – both specific and generic, that have spurred investors’ interest to invest in real estate for a great value appreciation.

Mumbai is a city of strategic importance. It contributes 20 percent to the state’s GDP and 6.16 percent to India’s total GDP. And at present Mumbai is preparing itself for the future. It is in the process of a systematic sustainable change to cater to the needs of its growing urbanisation. As a result, to ensure exponential growth, the Mumbai Metropolitan Region is witnessing infrastructural works to connect residential areas to its business and economic hubs. A move, making Mumbai an investment-worthy city. The unprecedented development works, to complete 250 km of Metro lines and more than 70 km of road projects will ensure better connectivity, increased flow of human resources, fulfilment of last-mile needs, and an elevated standard of living in the city and make Mumbai and its surrounding regions a preferred destination to invest in real estate.

1. The upcoming metro lines in the Mumbai Metropolitan Region Mumbai is expanding its network of Metro lines to cover the untapped areas of the city and its outskirt regions.

The Wadala-Thane Metro line:

One of the most ambitious projects in Mumbai is the MMRDA’s Metro line 4. The implementation of this has resulted in mega real estate developments in the city. The Metro line 4 will connect Wadala to Kasarvadavali in the satellite town of Thane. This 32.3 km long corridor with 32 stations on its route will interconnect with the existing Eastern Express Roadway, Central Railway, the ongoing Metro Line 2B, the proposed Metro Line 5, Metro Line 6, Metro Line 8, and to the Monorail to connect a vast number of residential areas to office hubs and government bodies in the city.

This Metro line has encouraged mixed-use developments starting from Wadala, Sion, Vikhroli to Kasarvadavali at Ghodbunder Road in Thane. Owing to Metro line 4 and its proximity to suburban areas and satellite towns like Thane and Navi Mumbai, Sion is emerging as one of the major commercial and residential hubs. With Sion’s immediacy to nearby CBD’s of BKC and Nariman point, corporate leaders and office-goers are flocking here. An indication that property rates will go up in the coming future in the area.

Metro lines 2 and 5: 

Other major infrastructural works underway in the city are Metro lines 2 and 5. Metro line 2, a 42.23 km long route with 37 stations, will connect Dahisar to Mankhurd. The adjoining areas of this upcoming Metro line like Goregaon, Kandivali, Malad, and Dahisar are bustling with real estate activities as commuting to international and domestic airports and CBDs like Andheri will be an easy affair. The property rates are expected to rise by 15-20% in these regions. Metro line 5, a 24.90 km long corridor with 15 stations on its route, will connect Thane to Bhiwandi and Kalyan to reduce the travel time by almost 75 percent. It will tap far- flung areas of Kapurwadi, Bhiwandi, and Kalyan. And the regions are already witnessing high real estate demand among the workforce and developers.

2. The game-changer: Mumbai Trans Harbour Link 

The existing and upcoming sea links within the MMR region are proving the island city Mumbai a desirable place to be in. And so does the proposed Mumbai Trans Harbour Link – a game-changer in the real estate world in Navi Mumbai. The 21.8 km long sea link will ensure one reaches Sewri from Chirle in Navi Mumbai within no time. It will bring office hubs of South and Central Mumbai within proximity. The real estate rates from Panvel to Vashi are increasing multifold and are expected to increase further in the coming years.

3. The Mumbai Coastal Road Project

Considered as a major infrastructure upgrade, Mumbai Coastal Road Project will connect Nariman Point in South Mumbai to Kandivali in the north. After completion, it will ease the city’s traffic especially on the Western Express Highway – one of the biggest reliefs in terms of commuting in the city. Owing to this project, the demand for mixed-use developments in Kandivali and its adjoining suburban areas is soaring. Further, with the civic body announcing 85% completion of the project by 2022, the region is witnessing high property rates and an upward pricing momentum.

4. Beyond the infrastructural growth

With record low level of housing interest rates, reduced stamp duty – from 6 percent to 3 percent – and tax-related benefits, the government has boosted the purchasing power and brought back consumer’s confidence in the market making it a suitable time to invest in real
estate for good ROI.

Knight Frank India, a leading international property consultant, recorded a whopping 6,784 units of property registration in August 2021 in Mumbai’s Brihanmumbai Municipal Corporation region – 16 percent higher compared to the same month in August 2019. A growth of 157 percent on a year-on-year basis. Further, Mumbai ensures to enrich the quality of living and offers a best-in-class social and civic ecosystem, and a lot more is in making. Be it prominent schools, healthcare facilities, entertainment zones, or malls, you name it and Mumbai has it all.

In conclusion, there is no denying that Mumbai is the future. And with an unmatched infrastructural boom to bring economic hubs closer to residential areas with excellent connectivity, rise in property rates, and great Return on Investment, this is certainly one of the best times to invest in real estate in Mumbai in decades.

Covestro invests in the production of more sustainable polycarbonates in Asia Pacific

Recycling plastic waste through mechanical processes such as sorting, grinding, re-granulating and compounding is an essential part of the circular economy. Covestro has now announced plans to set up its first dedicated line for the mechanical recycling (MCR) of polycarbonates at its integrated site in Shanghai. The new MCR line will address the growing demand for more sustainable solutions, in particular with Post-Consumer-Recycled (PCR) products, to be used primarily for the compounding step in the manufacture of electrical and electronic products, automotive applications, and consumer goods.

The line, which represents an investment of more than EUR 27 million, will be capable of delivering more than 25,000 tons of high-quality polycarbonates and blends containing mechanically recycled content annually when it is planned to be commissioned in 2023. Overall, the company aims to be capable to deliver more than 60,000 tons of polycarbonates with recycled content in Asia Pacific per year until 2026.

“The MCR production line is another exciting step we have taken to fulfill our commitment toward a circular economy and achieve our goal to become operational climate neutral by 2035,” said Sucheta Govil, Chief Commercial Officer of Covestro. “Recycling plastic waste is absolutely essential to the circular economy, and addresses one of the major global challenges we face together as a society. We will continue to invest in expanding and improving our capacity for recycled plastics, and leading the industry to create materials with higher recycled content.”

“To meet the rapid growth in demand for more sustainable and circular solutions from our downstream customers, we will continue to invest in expanding our capabilities,” said Lily Wang, Head of Covestro’s Engineering Plastics segment, at the groundbreaking event. “This MCR production line is the latest example of our efforts in this regard and signals our commitment to driving the transition to more sustainable products in this region, especially in China.”

Repurposing a compounding facility in Thailand for the ASEAN market

Covestro will also be repurposing an existing compounding line at its Map Ta Phut site in Thailand to a plant for mechanical recycling. The conversion of the plant is scheduled to be accomplished by the end of 2022 and continue to pave the way and meet market demand for polycarbonates from post-consumer recycled (PCR) content across multiple industries in the ASEAN region. Based on the current forecast, the unit will supply up to 10 percent PCR based product of its annual production volume by 2030.

Dr. Nicolas Stoeckel, Head of Operations in the Engineering Plastics segment, said: “The new developments in China and Thailand are not only about investing in capacity increase, but also about improving our capability to produce more products with higher recycled content and more consistent quality. These developments will further strengthen Asia’s reputation as the world’s leading producer of polycarbonate PCR grades.”

The two facilities in Shanghai and Map Ta Phut will boost Covestro’s output of PCR polycarbonates Makrolon® R and Bayblend® R, which contain up to 75 percent recycled content and can contribute to a carbon footprint reduction of up to 50 percent while meeting performance and eco-labels’ requirements.