India Developing, but still a long way to go

[chachachoudhary]

Ford sells Volvo to China's Geely auto group for $1.8 billion - Los Angeles Times

Volvo Cars and AB Volvo of sweden are two different entities. Volvo cars was sold to Ford way back in 1999.

The loss-making Volvo car unit was sold to Chinese company.

The original AB Volvo of sweden manufactures trucks, buses, and construction equipments.

 

[Ahchai Eliminator]

What are you talking about, Volvo been losing money since 2005.

CHINA/SWEDEN: Investment group joins Volvo deal
By: just-auto.com editorial team | 25 June 2010

Automaker Zhejiang Geely said it is teaming up with Chinese regional asset manager Daqing State Asset Operation in its planned US$1.8bn acquisition of Volvo from Ford.

The Daqing investment group would become a minority owner of the company in what would be China's biggest ever overseas auto purchase.

The exact size of the stake taken by Daqing and financing issues will be revealed once the deal closed, said Geeley’s Swedish spokesman, Anders Fogel, although Zhejiang Geely will be Volvo's controlling shareholder.

Zhejiang Geely signed a deal with Ford in March to buy Volvo. The investment group manages state owned assets in the Daqing region in northern China and news of its involvement fuels speculation over the location of a new plant to build Volvos in China, although Fogel declined comment on this.

Hong Kong-listed Geely Automobile said earlier this year it had no plans to raise money to help finance the purchase by its parent of the Sweden-based carmaker, which last made a full-year profit in 2005.

The deal is planned to close in the third quarter. A new Chinese plant would help boost the Swedish premium brand in the fast-growing Chinese market.

The Swedish carmaker lost money in recent years and cut thousands of jobs in an attempt to regain profitability. However, Ford reported that Volvo had swung to a US$49m operating profit in the first quarter of this year.
CHINA/SWEDEN: Investment group joins Volvo deal: Automotive news & analysis

 

[lhuang]

Volvo Buses - Wikipedia, the free encyclopedia << Buses

Volvo Cars - Wikipedia, the free encyclopedia << Bought by Geely

 

[indiatech]

Building the T3

 

[flyinfishjoe]

I'm excited...I'm flying into Terminal 3 on my next visit to India in a few weeks.

 

[shrivatsa]

Actually they have built two terminals in 37 months T1d and T3 wow!
and yesterday new terminal of Ahmadabad has been inaugurated.
http://timesofindia.indiatimes.com/city/ahmedabad/New-terminal-to-begin-operations-from-I-Day/articleshow/6129356.cms

 

[DesiGuy]

keep it up.

 

[chaly]

Looking at these pics, people might think India is nearly like China in development.

Good work Indians

Well its not yet as developed as China in terms of infrastructure. But its on its way. We have high hopes for our cities.

 

[Ahchai Eliminator]

Pictures: $3bn dollars Delhi airport terminal

Indian officials unveiled a glittering new multibillion-dollar airport terminal in Delhi, a steel-and-glass structure intended to show the country's infrastructure is catching up with its rapid economic growth. Terminal 3 was built in just 37 months and will open for international passengers on July 14. Domestic passengers will shift to the new terminal on July 30.

 

[lhuang]

Ehh no taste vis a vis decorations in that new terminal.

 

[Kinetic]

Building the T3

YouTube - The Making of Terminal 3, IGI Airport, New Delhi India (VIDP/DEL)

Good to see that an Indian company build this.

 

[Kinetic]

New Kolkata airport terminal....

New Mumbai airport terminal....

 

[flyinfishjoe]

I'm especially excited for the Airport Express opening in September...Connaught Place to IGI in 20 minutes!

 

[CONNAN]

TAJ PALACE HOTEL AND GATEWAY OF INDIA

 

[CONNAN]

delhi metro

---------- Post added at 06:50 PM ---------- Previous post was at 06:49 PM ----------