The Financial Express -- News

Monday, November 3 1997

Fuel-supply pact likely to be made more flexible

The Union ministry of petroleum and natural gas, in an endeavour to help independent power producers, plans to synchronise the fuel supply agreement (FSA) with power purchase agreement (PPA). This will make the FSA a bankable document. The ministry has asked state electricity boards to thrash out issues relating to fuel supply and is now drafting the standard FSA for all IPPs.

Financial institutions team up to formulate norms

Industrial Development Bank of India (IDBI), Industrial Credit & Investment Corporation of India (ICICI) and Industrial Finance Corporation of India (IFCI) will together formulate guidelines on assigning licences for basic telecom projects. This is in response to a recent tripartite agreement between the telecom ministry, the basic telecom services operator and lenders, giving them "agent" status.

Essar Commvision set to sell 10% to GTE Corporation

Essar Commvision (ECL) is reportedly close to selling a stake to GTE Corp of the United States. The company has already closed a consultancy deal with GTE for operations and maintenance of its network in thhe northern state of Punjab and is now close to signing an agreement for a 10% stake in Essar Commvision.

Gridlock over Hinduja National Power, Coal India fuel-supply

Seven ONGC institutes to offer joint consultancy services