Asia

UK investment vehicle Vallares, headed by the former CEO of BP Tony Hayward, is to merge with Turkey’s Genel Energy in a £2.5 billion deal.

The transaction, which will give Vallares oil fields in northern Iraq’s Kurdistan region, will see the new company trading as Genel Energy Plc, with Hayward as CEO.

The semi-autonomous Kurdistan region is thought to contain about 40 billion barrels of oil and 60 trillion cubic feet of gas.

Ashish Vij, chief operating officer of Sudarshan Chemical Industries, talks to Jayne Flannery about the company’s drive to become a leading global pigment producer whilst adhering to the highest international safety and environmental standards.

Pantaloon Retail is India’s most successful and fastest growing retail business; and the secret of its success lies in questioning every received management mantra.

Ford Motor Company and Toyota Motor Corporation are to collaborate on the development of an advanced new hybrid system for light truck and SUV customers.

The world’s two leading manufacturers of hybrid vehicles have signed a memorandum of understanding on the product development collaboration, with the formal agreement expected by next year.

Godfrey Phillips India is one of the largest players in the Indian cigarette industry, with an annual turnover of over Rs 3000 crore, or $620 million. Incorporated in 1936, the company has two major shareholders: the KK Modi Group, which holds the largest share, and the American tobacco giant Philip Morris.

After almost 115 years in business, Godrej Industries has an excellent track record in ethical behaviour. Managing director Nadir Godrej explains to Gay Sutton how good labour relations and environmental best practice have helped to promote growth.

The last 10 years have witnessed an incredible blossoming in the Indian economy, and one of the companies playing a key role in promoting India as a producer of quality chemical products is Godrej Industries, part of the Godrej Group.

Sanjay Dayal, chief executive of BlueScope Steel Asia, talks to Jayne Alverca about the myriad ways in which the company is transforming a commodity into value-added building solutions.

Premium Transmission Ltd, part of the Karan Thapar Group, has divested its automotive gear manufacturing division to Indsur Global Limited.

Indsur Global manufactures insulator castings for the automobile sector at its plant in Halol, India. The acquisition will provide Indsur Group with access to key customers and a strong platform for expansion.

Premium Transmission is a leading manufacturer of industrial gearboxes in India. The automotive gear manufacturing division in Aurangabad serves mainly three wheeler manufacturers in the country.

London-based oil and gas company Terra Resources has entered into a financial partnership with Hendon Energy Fund 2011 to develop an oil and gas concession in Russia.

Hendon has agreed to partner with Terra Resources to fulfil its funding commitments, which are estimated to be $90 million, for the development of the 85,000 acre oil and gas concession in Kalmykia.

Ireland’s PetroNeft Resources has announced a “significant” oil discovery in one of its two Russian licence areas.

The discovery was made at Sibkrayevskaya, in Licence 61 at Tomsk Oblast, Siberia.

PetroNeft holds a 100 per cent interest in Licence 61, a 4,991 square kilometre oil and gas licence; as well as a 50 per cent operating interest in Licence 67, which covers an area of 2,447 square kilometres.