Microsoft buys 10 per cent stake in TCS China

MUMBAI: Microsoft Co has bought 10 per cent stake in TCS China, a joint venture promoted by India's largest IT services firm Tata Consultancy Services (TCS) and three state-owned Chinese companies.

The US software behemoth on Thursday signed an investment agreement to join the JV, a company release said here. Though the company has not disclosed the investment figures, sources familiar with the development said that Microsoft would pump in $1.4 mil lion for 10 per cent stake in the venture.

With Microsoft's entry, the shareholding of the JV would change. TCS Asia Pacific would now own 65 per cent stake and the Chinese partners 25 per cent, the release said. TCS had last year formed the joint venture with three Chinese companies backed by th e local governments of Beijing and Tianjin.

"TCS China would allow us to provide our clients with the best in technologies at affordable prices, with services delivered at TCS' known global quality processes," Mr Girija Pande, Asia Pacific Head, TCS was quoted as saying.

TCS China would focus on manufacturing, telecom as well as government sectors, it said, adding the company would also concentrate on key technologies with centre of excellence in Microsoft. -PTI

ROLTA

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SIEMENS

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Largest contract ever for SIEMENS

Siemens Ltd has announced that a consortium of the Company and Siemens AG, Germany has been awarded a mega contract worth Rs 40,000 million by the Qatar General Electricity and Water Corporation (KAHRAMAA) for development of Phase VII of the Electrical Grid in Qatar. This contract, also the largest ever for the Company, is a repeat order from the same customer. During the last fiscal, Siemens has bagged two contracts amounting to Rs 26,000 million (Rs 2,600 crore) in Qatar. Of these contracts, the Company has already commissioned Phase V and is currently executing Phase VI, which is on schedule.

The scope of the Mega contract is to supply 25 new substations of voltages 220kV/132kV/66kV in addition to extension of 14 substations and renovation of 10 substations. All Substations would be installed with cutting-edge electrical power equipments and Substation Automation systems supplied in-house by Siemens. These stations will be unmanned and controlled by the central load dispatch centre. This order is a fast track project and is slated to be completed in a time span of 22 months.

Mr J Schubert, Managing Director of Siemens Ltd stated, "This export order, the largest in Siemens PTD Worldwide, highlights the inherent strengths and capabilities of Siemens India. Over the years, we have understood our customer's needs, as well as the specific regional requirements. With this approach, we have been able to earn Customer confidence and loyalty, which is strongly backed by the quality and performance of our products and solutions." He also added, "We are once again very happy to partner with Kahramaa in development of Qatar Transmission Network. This win undoubtedly takes us into the global league as a strong and established player in the area of Transmission and Distribution."

Mr Harminder Singh, Director, Siemens Ltd and Head of Power business in India said, "This order, won by the Siemens consortium is a result of intense co-operation between all constituents. While Siemens India, Power Transmission and Distribution Division will play a major role in the execution of the order, we have Specialists and Managers from all over the world working seamlessly together in teams to ensure that project runs completely on schedule, without any compromises. We are very proud that we have been able to bag the biggest order for Siemens PTD worldwide, as well as for Siemens in India. With this mega contract, Siemens continues to maintain its leadership position in the market against some stiff global competition."

Siemens Power Transmission and Distribution Division in India provides products, systems and solutions in the area of medium-voltage and high-voltage switchgear, medium voltage switchboards, high voltage substations, production system, substation automation and power system control and energy management systems.

The Contract Value for Siemens Ltd is Rs 36,000 Million. This order is a fast track project and is slated to be completed in a time span of 22 months.