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PE, M&A market set for upswing, say players
Mergers and acquisitions (M&As) and private equity (PE) investments in India dipped both in value and volume terms in 2009 due to the global slowdown. This, along with the sharp run-up in the equities in the second half of the year and too much liquidity globally, has made deal closure an arduous task for PE players. Despite this, the players are hopeful that the investment market will improve in 2010. The value of deals (both PE and M&As) announced in calendar year 2009 (January to December 13, 2009) was $21.20 billion as against $41.54 billion, a decline of nearly 49 per cent. During 2007, the value was $70.14 billion, according to data compiled by Grant Thornton.

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Reliance tops the combined value chart on both the BSE and the NSE with a total turnover of Rs 558.09 crore. It is followed by Suzlon (Rs 531.62 crore), Tata Steel (Rs 413.41 crore), DLF (Rs 390.68 crore) and Aban Offshore (Rs 372.79 crore).

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Luxury train project finds suitor

The Orissa tourism department"s plan to start a luxury train modeled on the famed Palace on Wheels has gained ground as a private player has evinced interest in investing in the project. - IRCTC profit doubles - Operations at Rail Neer"s Tamil Nadu plant by end-FY10 - IRCTC aims to double tourism earnings this year - State to finalise operator for houseboat tourism soon - IRCTC plans to serve regional delicacies at railway stations - Every third rail ticket now reserved online “The state tourism department would hold talks with the private player, who has experience in operating luxury trains in other states, on October 5 this year. We are trying to get our project entirely funded by him”, an official source told Business Standard. However, the source declined to name the party. The proposed service is estimated to cost Rs 37 crore and it was intended to be implemented in the public-private partnership (PPP) mode. Earlier, the state tourism department had negotiated with the Indian Railway Catering and Tourism Corporation (IRCTC) for working out the modalities of the luxury train. Apart from providing catering services, IRCTC will also be responsible for designing the interiors of the train. The luxury train will provide the tourists with a flavour of the state"s wildlife, beaches, Buddhist sites, exquisite temples, arts and crafts, dance forms, Chilika lake and the tribal culture. Unlike other luxury tourist trains operating in the country such as Palace on Wheels, Deccan Odyssey and The Golden Chariot which cater to high end tourists, this service would also be affordable for the middle income groups. Meanwhile, the state tourism department has completed the first round of negotiations with a private player for the first inter-state cruise tourism project involving Orissa, West Bengal and Andhra Pradesh. The project involves cruise connectivity from Visakhapatnam to Kolkata via Orissa. The project was to be implemented in the PPP mode and a private operator was to operate the cruise. The cruise tourism project has been mooted by Debi Prasad Mishra, the Orissa tourism minister, who has taken the initiative to negotiate with his counterparts in West Bengal and Andhra Pradesh on the project. Meanwhile, the state tourism department has decided to have dedicated land banks exclusively meant for development of tourism projects. The tourism department aimed to acquire 400-500 acres of land by the end of October this year for this purpose. The move is expected to woo private players to invest in the state’s tourism sector to help increase the state’s inbound tourist arrivals


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