Sanjiv Goenka launches new group (Lead)July 13th, 2011 - 3:34 pm ICT by IANS
Kolkata, July 13 (IANS) Sanjiv Goenka, vice chairman of the RP Goenka Group, one of India’s largest industrial conglomerates, Wednesday launched a new group corporate identity RP-Sanjiv Goenka Group.
The announcement was a follow-up of RPG Enterprises chairman emiritus Rama Prasad Goenka’s declaration early last year, that the ownership of the Rs.18,000 crore turnover group would be divided between his two sons - Sanjiv and Harsh.
“The new group corporate identity is to avoid any confusion in future between me and my brother,” Sanjiv said.
The new group will be active in five business sectors - power and natural resources, carbon black, retail, media and entertainment, and infrastructure, Sanjiv said.
In its new form, the RP-Sanjiv Goenka Group will have an asset base of Rs.14,000 crore and revenue of over Rs.9,000 crore, he added.
“The new group in the next five years will invest a total of Rs.35,000 crore, including Rs.31,000 crore in power and Rs.2,500 crore in carbon black business,” Sanjiv told mediapersons here.
After five years, the new group’s revenue will be Rs.25,000 crore and an asset base of Rs.50,000 crore, he said.
The group will have a separate logo.
“I will continue to be the vice chairman of RPG Enterprise,” Sanjiv said.
The new group will include power utility company CESC, carbon black company Philips Carbon Black, retail wings Spencers and Music World, entertainment arm Saregama India, and infrastructure entity CESC Properties Limited.
- Sanjiv Goenka launches new group - Jul 13, 2011
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- Kolkata power firm may hike tariff - Aug 09, 2011
- CESC gears up to handle 3,000 MW distribution capacity - Jul 27, 2012
- CESC net up 137 percent in Q4 backed by tariff hike - May 08, 2012
- CESC's Haldia thermal power project by 2013-14 - Jul 29, 2011
- Shanghai Electric to supply equipment for Haldia plant - Sep 15, 2011
- CESC's consolidated net profit down 11 percent - Jun 13, 2012
- Kolkata firm to begin Vietnam plant work in March - Jan 31, 2011
- Phillips Carbon Black profit slumps - May 03, 2011
- CESC's Q3 net profit down 33 percent - Feb 13, 2012
- CESC sees 11 percent rise in profit before tax - Feb 10, 2011
- Shanghai Electric, Punj Lloyd bag CESC projects - Feb 10, 2011
- CESC's net profit dips 26 percent in Q2 - Nov 09, 2011
- CESC plans to raise Rs.1,200 crore in equity - Dec 07, 2010
Tags: asset base, black business, business sectors, corporate identity, emiritus, entertainment arm, goenka, industrial conglomerates, music world, natural resources, next five years, rama prasad, rp, rpg enterprises, rs 50, sanjiv, spencers, turnover group, vice chairman, world entertainment