Mauritius Based Pavers Foresight Smart Ventures announced a 50:50 JV with the 150 millon Euro Company "Fly Flot" of Italy. 

Fly Flot is the largest footwear manufacturer in Europe, with presence in 57 countries, and produces close to 7.2 Million pairs of footwear annually. The firm among the worldwide leaders in direct injection polyurethane comfort technology.

Under the arrangement, both partners would invest Euro 2 million for the setup of a Greenfield plant in Tamil Nadu. 

Aaress Iron & Steel Ltd (AISL), the unit of Baldota Group, is setting up a new Rs 4,700-crore steel plant at Koppal, in northern Karnataka to cater the needs of the automobile industry and other high-value added engineering segments.

The project will be executed in two phases and the company aims to start production by mid-2010 with an initial capacity of 1.2 million tones annually. The total capacity of the plant is expected to be around 5 metric tones. 

The Rockland Group has informed that it will invest Rs 1200 crore to create a chain of Healthcare facilities in the National Capital Region. 

Under the proposed plan, the group will construct buildings of 4 new multi specialty hospitals, satellite clinics and an interactive media platform. 

Yesterday, the group launched the OPD facilities of the 250-bedded Rockland Manesar multi specialties hospital, which is the second in the chain of Hospitals.

New Delhi  - India's Tata Motors Tuesday announced that it was relocating its project to manufacture the world's cheapest car, the Nano, to the western state of Gujarat and will launch the car in the first quarter of 2009.

The company last week scrapped its 350-million-dollar project in the eastern state of West Bengal after continuing protests by farmers over land acquired for the plant.

Tata group chairman Ratan Tata and Gujarat chief minister Narendra Modi announced at a press conference that the new Nano plant would be located on 440 hectares in the Sanand area near the commercial capital Ahmedabad.

Air France would expand its network by starting new services to major Indian cities. The air line has also decided to take care of Indian flavours in its flights. It would provide vegetarian food and Indian newspapers and films on board. 

Air France intends to become a top class air service provider by developing strategic zones to get more passengers. The company had started its services from Bangalore in 2005 and from Chennai in 2006. It is now interested to start services from Kolkata, Ahmedabad and Pune.