Russia-based Sistema has announced that it will invest over $ 5 billion in Indian telecom sector in the next 3-4 years.

Sistema has finalized a deal with Indian telecom services provider Shyam Telelink, the unlisted telecom services arm of the Shyam Telecom Group, to acquire 74% stake in the company.

Russia has also assured Indian oil firm ONGC that it will become its helping hand for acquiring stake in its giant Sakhalin-3 project.

Philips Carbon Black Ltd (PCBL), a subsidiary of $3.5 billion RPG Group of companies, has announced that it is proposing to invest Rs 160 crore to expand the capacity of its Kochi plant in Kerala.

Under the expansion plan, the annual production capacity of the plant will be increased from 40,000 to 90,000 tonnes, out of which 50,000 tonnes of soft carbon would be produced to tackle its high demand of black carbon.

Chennai-based Amara Raja Batteries has decided to invest Rs 520 million for capacity expansion of its industrial battery division.

The company with innovative engineering, research and design has grown with partnerships and information sharing with world leaders.

Amara Raja Batteries, registered a sharp drop in net profit of Rs 149.17 million for the quarter ended in June 2008 as compared to profit of Rs 179.06 million for the same period year ago.

Wolfsburg, Germany - Volkswagen is to build the right-hand- drive version of its new Golf model at its main German plant in Wolfsburg, shifting production from its plant at Uitenhage on South Africa's southern coast, the company announced Saturday.

VW South Africa head David Powells told the newspaper Wolfsburger Allgemeine Zeitung the RHD version of the Golf VI, aimed at the Asia- Pacific and African markets, would be available in October.