Bangalore: The sixth building of the International Tech Park, Bangalore (ITPB), called `Navigator,' coming up on four lakh sq. ft, will be completed by September, according to Jonathan Yap, Chief Executive Officer, Ascendas India.

The complex coming up at a cost of Rs. 150 crore would also have a tie-up with a chain of hotels to develop a hotel with 200 rooms within the park. Mr. Yap said huge investments had gone into the 12.5 MW dedicated power plant for reliable power supply operating in synchronisation with Karnataka Power Transmission Corporation Ltd.

Ascendas, whose flagship venture in India is the International Tech Park in Bangalore, has followed it up with `Cyber Pearl' and `The V,' both located in Hyderabad, and the International Tech Park in Chennai.

On the occupancy level, he said it was cent per cent in Bangalore and Hyderabad and 99.3 per cent in Chennai. The retention in the companies over the last three years was 80 per cent. He said that with tech parks concentrated in the South, Ascendas would look at establishing business spaces up North, focussing on tier two cities as well.

The Ascendas Tech Park Fund of Rs. 1,000 crore had been fully subscribed last year and now the Ascendas Trust was looking at another Rs. 1,000 crore in the next five years, he said.

ITPL in Bangalore, a joint venture with the Karnataka Industrial Areas Development Board, houses 126 companies with a workforce of 19,300. Two million sq. ft has been developed and 8,50,000 sq. ft is under development, including a 200-room Taj Hotel, which is expected to be ready by 2007.

MICO stir off

Workers at the Bangalore plant of auto components maker Motor Industries Company (MICO) Ltd., the flagship company of the Bosch Group in India, have withdrawn their plan to strike work from Tuesday following a settlement with the company management.

"Following a settlement signed before the Additional Labour Commissioner on May 15, the workers have withdrawn their strike notice and normality has been restored," a company official said.

The MICO Employees Association had served notice on the company management of a strike from May 16 demanding that temporary workmen be made permanent, inter-plant disparity in prospective benefit and incentive rates, customary gift to employees, etc.

MICO, the largest Indo-German venture, is the largest manufacturer of diesel fuel injection equipment in the country. The dispute was taken up for conciliation by the Additional Labour Commissioner, and an agreement was reached between the two sides on May 15.

Hhydraulic brakes maker Bosch Chassis Systems India Ltd. (formerly Kalyani Brakes), a subsidiary in which the Bosch Group holds over 80 per cent stake, has recommended a dividend of Rs. 12 per share (120 per cent) for 2005-06.

BEL general managers

Six officers have taken charge as general managers of Defence major Bharat Electronics Ltd. (BEL). They are Ajit T. Kalghatgi, Chief Scientist, Central Research Laboratory (CRL), BEL, Bangalore; Elaine Mathias, General Manager (Finance); R.P.S. Gahlaut, General Manager (Information Systems); M. Mallaraj Urs, General Manager (Torque); A.A. Mohan Ram, General Manager (Naval Systems); and K.C. Pandita, Chief Scientist, CRL, BEL, Ghaziabad.

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