Word: steels
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...steel and concrete as metaphor - tied, on one shoreline, to a truce struck between the Saudi ruling family and religious traditionalists in the kingdom. The Sauds get virtually limitless wealth, a healthy chunk of which they share with their dour clerical partners and their Wahhabist accountants. In exchange, the royals receive a stamp of religious approval, as the true protectors of the Holy Sites of Mecca and Medina, as well as an understanding that 25,000 or so members of the royal family can do, more or less, anything they please, while the country's 27 million citizens live under...
...more companies are coming around to Lheem's thinking. Near Hyundai's plant, Nokia opened the first phase of a $150 million mobile-phone factory in March. In the state of Orissa on India's east coast, South Korean steel giant Posco plans to construct a $12 billion mill. SemIndia, a company formed by chip-industry executives, will break ground in June on a $3 billion semiconductor factory in the southern state of Andhra Pradesh. Others are coming around, too. Dell Computer recently announced its intention to build a factory in India, joining those it already has in China...
...Hyundai Motor's car factory in India, set amid palm-studded marshes on the outskirts of Madras, is a gleaming example of what could be the future of India's economy. Built for $1 billion, its high-tech robots and monstrous steel-pressing machines will churn out 300,000 Accent sedans and other vehicles this year, at world-class quality levels. Hyundai has been shifting production of its smallest cars to India to take advantage of low costs, thereby keeping the business profitable. One-third of its cars produced in India are exported to Germany, Peru, South Africa and elsewhere...
...Tata group's global clout means its chairman's thoughts on the world economy are worth listening to. The group comprises 93 companies, including the world's second largest tea business (Tata Tea); Asia's largest software firm (Tata Consultancy Services); a steel giant (Tata Steel); a worldwide hotel chain (Indian Hotels); and a sprawling vehicle-manufacturing arm (Tata Motors) that includes a bicycle factory in Zambia and a project to make a car selling for $2,200. Since Ratan Tata became chairman in 1991, he has multiplied Tata group revenues seven times to an annual $21.7 billion. Since...
...heart of India's insular business establishment the last business group you'd have turned to for radical thinking, or owning anything abroad. The group's founder, J.N. Tata, was a nationalist driven by the idea of a strong, self-reliant India. He gave the country its first steel plant, first hydroelectric plant, first textile mill, first shipping line, first cement factory, first science university, even its first world-class hotel. His successors among them J.R.D. Tata, India's first pilot created the first airline, first motor company, first bank and first chemical plant...