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PostPosted: Thu Nov 23, 2017 12:10 am 
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Country's largest telecom tower company Indus towers has been opened their Warehouse at Trichy GKIPL park.

Opening ceremony has been conducted on 20th nov.

#IndusTowers inaugurates the Warehouse of 30 000 sq.ft. built up area and 100 000 sq.ft. open space area @GKIPL

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source: https://twitter.com/GKIPL

courtesy: Manivannan from SSC


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PostPosted: Sun Nov 19, 2017 5:52 pm 
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MM Forgings begins work on expansion

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Allocates Rs. 250 cr. for 18-month project

To cater to customers, steel forgings supplier MM Forgings Ltd. has drawn up an 18-month expansion plan involving a capital outlay of Rs. 250 crore, said a top executive. “We have already started the process and it should be completed by December 2018,” said Vidyashankar Krishnan, managing director, MM Forgings Ltd.

“This is on top of the just concluded Rs. 350 crore production capacity addition at all the three units in Tamil Nadu.”

MM Forgings, which caters mostly to the automobile sector, has units at Oragadam near Chennai, Singampunari near Madurai and Viralimalai near Tiruchi. Currently, the company has a production capacity of 65,000 tonnes per annum and this would be increased to 75,000 tonnes per annum. In the latest expansion which happened over a period of 30 months, the company’s production capacity increased to 65,000 tonnes from 45,000 tonnes.

According to Mr. Krishnan, the expansion cost would be met mostly through internal accruals and debt in the ratio of 20:80. Out of the Rs. 250 crore, Rs. 50 crore had been set aside for capacity addition and Rs. 200 crore for machining shop, export components, new products and markets, among others


source: http://www.thehindu.com/todays-paper/tp-business/mm-forgings-begins-work-on-expansion/article20494463.ece


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PostPosted: Sat Nov 18, 2017 10:25 am 
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PostPosted: Thu Nov 09, 2017 5:14 pm 
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NIT Trichy to Partner with Entrepreneurs of India

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The Entrepreneurship Cell (E Cell) of NIT Trichy chose Entrepreneurs of India as its official media partner for the year 2017-18.

A decade old E Cell is a non-profit organization that has been promoting entrepreneurship across India and organizes a number of flagship entrepreneurial events at NIT every year. It brings together the student community, the startup community and the corporate circle to create a passion in students towards entrepreneurship.

Entrepreneurs of India has evolved to become one of the best platforms in India to promote startups and entrepreneurship. With this partnership, Entrepreneurs of India will help E Cell NIT gather wider patronage for the events .

E Cell NIT organizes E-Summit, Startup Internship Program , E-conclave and a number of other exciting events to promote the vibrant entrepreneur community across India.


This is the first ever partnership of Entrepreneurs of India with an educational institute in India. It will provide both Entrepreneurs of India and NIT to grow and take a step ahead in promoting entrepreneurship among Indian students.



source: http://eoindia.com/nit-trichy-partner-entrepreneurs-india/


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PostPosted: Sat Nov 04, 2017 5:30 pm 
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OfBusiness helping SMEs in India including Trichy to get financial support

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OfBusiness was incorporated in August 2015 with a Seed/ Series A funding of $ 5 million from Matrix and few angels. Their focus since start has been on traditional sectors as manufacturing and infrastructure which are behemoth sectors core to the economy, says Piyush Upadhyay, Head – Marketing and Growth, OfBusiness in conversation with Elets News Network (ENN).

Give us an overview of OfBusiness.

Designed for the Indian SMEs, OfBusiness is a first-of-its-kind technology-driven SME financing platform with a product fulfilment engine. OfBusiness brings SMEs further into the financial mainstream by providing “purchase financing” of raw materials, which is 60-70 per cent of the SME’s total cost. OfBusiness is beneficial to SMEs in two ways –

1) it brings institutional credit (both secured and unsecured) to SMEs, which hitherto gets financed by local distributors and financiers at a much higher cost at 2%+ per month and,

ii) it aggregates several raw materials, and passes most of the aggregation benefits (like volume discounts from manufacturers to the SME.

OfBusiness was incorporated in August 2015 with a Seed/ Series A funding of $5 Million from Matrix and few angels. Series B of around $ 11 million with Zodius and Matrix happened in Nov 2016. All the founders being on the right side of 30s, with significant prior experience, united to build something meaningful in the B2B space. As each of us had some experience to the SME world, we understood the over-dependence of the SME on the local dealer for both material and credit. Our focus since start has been on traditional sectors as manufacturing and infrastructure which are behemoth sectors core to the economy and where-in many members of the founding team had hands-on experience.

Name some of the SMEs your company is associated with and how you are helping them?

OfBusiness serves customers across Manufacturing (auto, capital goods, power, small machinery, solar, etc.) and Infrastructure services. With focus on SMEs in the core sectors of the economy, OfBusiness goes deep into a cluster to build tailored financial products to assist SMEs with growth and cost savings. Some examples include the following

Faridabad Cluster: Helping auto-oriented fabrication and machining SMEs like Yuva, Shakti auto components and Shree Anand for financing of and bringing down the cost of raw material purchases like Aluminum and Steel.

Trichy Cluster: Helping the BHEL Trichy vendor base (e.g., Rockfort, Mantek and Bhuvneshwari) engaged in heavy material fabrication in exploring alternate venues for structural procurement like Raipur to help in better availability and financing the working capital finance for them
.
Bhiwadi Cluster: Helping capital goods manufacturers (e.g., Himskaf and Skanda) procure newer orders from blue chip anchors by financing their raw material and consumables purchases.

Ghaziabad Cluster: Helping central agency (e.g., NHAI and NBCC) contractors like Kashyapi and Anurag to discover raw material vendors in newer states of operation (Kerala and MP respectively) while financing them as well.

How do you acquire raw materials for SMEs at the best price?

OfBusiness aggregates several raw materials and places orders directly on manufacturers. Aggregating volumes and disintermediation generates benefits (like volume discounts from manufacturers), bulk of which are passed by OfBusiness to its SMEs.

On receiving an RFQ from an SME which has a credit limit, OfBusiness sends across the request to multiple suppliers matching the requirement. The suppliers bid on its bidding engine to get the best price for the SME. Going deep into a cluster coupled with the bidding approach enables OfBusiness to provide the right material, at the best price within the promised time. By providing “purchase financing”, OfBusiness ensures rotation and on-demand use of the credit line ensuring higher quality of its book.



More @ http://egov.eletsonline.com/2017/11/ofbusiness-helping-smes-to-get-financial-support/


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PostPosted: Sat Oct 28, 2017 11:27 pm 
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1) Special Water Supply Scheme to ITC-Trichy Plant at a cost of Rs 17 Crores


2) DPR Getting Ready for a Textile Park in Trichy District



source: http://www.twadboard.gov.in/twad/project_formu.aspx


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PostPosted: Sat Oct 28, 2017 8:31 am 
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CRPF approves Trichy Assault Rifle after tests

Ordnance Factory Tiruchi (OFT) has developed the design

The Trichy Assault Rifle (TAF) designed in-house at Ordnance Factory, Tiruchi (OFT), and developed to match specifications of AK47 has passed the quality test for use by paramilitary forces, sources in the OFT said here on Friday.

The approval of the weapon by the CRPF in New Delhi has brought immense relief to OFT employees. Acceptance of TAF by paramilitary and military forces has been a long-pending demand of the employee unions who were prepared to rectify the shortcomings pointed out by the Army.

The first lot of TAF was handed over to the Chhattisgarh police earlier this year. Thereafter, OFT received orders for AK-47 from police departments from a few States that were fighting insurgency, and production and assembly lines were established for mass production.

However, employee unions were keen on having a steady stream of supply of the weapon to CRPF and other elite forces, including CISF and BSF.

Procurement problems

It was because the State governments that had procured the weapon for their police forces had problems with making payments, according to C. Srikumar, general secretary, All India Defence Employees Federation (AIDEF).

Approval of the weapon by paramilitary forces will, in all probability, pave the way for its supply to the Army as well, Mr. Srikumar pointed out.

Approval of TAF is a shot in the arm for the employee unions that had been expressing concern over the decline in manpower at the OFT. Manpower had declined to around 2,000 from about 3,500 10 years ago, V.Balachandran, national executive member of the AIDEF, said.

The development comes in the backdrop of AIDEF and two other employee unions: INDWF and BPMS which together represent the cause of four lakh employees in 41 ordnance factories in the country, opposing import of AK-47 rifle, and assailing the Centre's move for introduction of public-private-partnership model.

The OFT had to upgrade its product offerings a few years ago in the wake of the shift of Army and Central armed paramilitary forces towards 7.62 mm calibre rifles with automatic firing, so as to incapacitate and kill the enemy in counter-insurgency operations with higher probability. The TAF was manufactured in three variants — fixed butt, side foldable butt and under folding.

It can be fired in single shot, automatic and burst fire mode.

In automatic mode, it fires 600 rounds per minute, as per the technical specification.

http://www.thehindu.com/todays-paper/cr ... 936109.ece


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PostPosted: Thu Oct 26, 2017 8:20 pm 
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source: TOI

Courtesy: Ilovetrichy Facebook


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PostPosted: Sun Oct 22, 2017 8:23 pm 
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MSME-DI ,TIDITSSIA and BHEL-Trichy to conduct State level Vendor Development Program in Tiruchi

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Aiming at handholding the Micro, Small and Medium Enterprises (MSMEs) of the state, The MSME Development Institute (MSME-DI), Chennai, in association with the Tiruchi District Tiny and Small Scale Industries Association (TIDITSSIA), will be conducting a State-level vendor development programme.

The vendor development program is being organized in partnership with the Bharat Heavy Electricals Limited (BHEL) in Tiruchi scheduled for October 25.

TIDITSSIA in a press release informed that the main aim of the programme is to promote and develop, participation of MSMEs in the marketing development assistance and supply of products and services to central government departments and public sector enterprises.

MSMEs from different sectors including steel fabrication and boiler components, heavy structural columns, beams, doors, rails, stairs, pressure part machining items, heat treatment, hot dip galvanizing may participate in the event.

Also MSMEs involved in inducting and bellows, blast cleaning and painting, punching, pressing and shearing may participate in the program.

Dedicated sessions on public procurement policy, e-marketing and schemes for MSMEs will also be a part of the program.



source: http://knnindia.co.in/news/newsdetails/state/msme-di-to-conduct-state-level-vendor-development-program-in-tiruchi


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PostPosted: Sat Oct 21, 2017 8:35 am 
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Vendor development programme on October 25

The MSME Development Institute, Chennai, in association with the Tiruchi District Tiny and Small Scale Industries Association (TIDITSSIA), would conduct a State-level vendor development programme with BHEL, Tiruchi, for micro, small and medium enterprises on October 25.

The objective of the programme is to promote and develop, participation of MSMEs in the marketing development assistance and supply of products and services to central government departments and public sector enterprises, N. Kanagasabapathy, president, TIDITSSIA, said in a press release.

Vendors in steel fabrication and boiler components had scope to offer products and works such as fabrication of heavy structural columns, beams, doors, rails, stairs, pressure part machining items, heat treatment, hot dip galvanizing, ducting and bellows, blast cleaning and painting, punching, pressing and shearing. MSMEs in Tamil Nadu with Udyog Aadhaar registration can attend the programme.

The outsourcing requirements and vendor registration process of BHEL, Tiruchi, will be the focus of the programme. Presentations on marketing development assistance, public procurement policy, e-marketing and schemes for MSMEs would also form part of the event to be held at the Institution of Engineers Hall, near Ganesha Point in BHEL campus.

Participation is free but admission will be restricted to 60 persons on prior registration with MSME, Chennai, or TIDITSSIA, Tiruchi. For more details contact, N. Srinivasalu, Assistant Director, MSME-Development Institute, by dialling 9840152798 or N. Kanagasapathy, President, TIDITSSIA, by dialling 0431-2440119/9443142005

http://www.thehindu.com/todays-paper/tp ... 893080.ece


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