The Financial Express -- Corporate

Friday, December 19 1997

Indo Gulf Fertilisers plans refinery to extract gold, silver

Indo Gulf Fertilisers & Chemicals is considering the option of setting up a refinery for extracting precious metals like gold and silver from anode slime produced as waste from its Rs 1,850-crore copper smelter plant coming up at Dahej in Gujarat. According to sources, Indo Gulf plans to implement it only after three years. Initially, it plans to export anode slime to Europe and Japan where precious metal refineries are in abundance.

MSEB defers $50-million external debt plan

The Maharashtra State Electricity Board (MSEB) has deferred its $50 million, seven-year syndicated loan with estimated price of 75 basis points over Libor citing "material adverse change" in conditions. The decision by the state electricity board to keep in abeyance its $50 million borrowing programme will delay the company's subscription to 30% equity of the Dabhol Power Company (DPC).

KIOCL to select strategic partner by year-end

The strategic partner for Kudremukh Iron Ore Company Ltd (KIOCL) will be selected keeping in mind the significance of the company to the environmental protection of the region around Kudremukh, where a majority of the company's mining activities take place, according to chairman and managing director S Murari. Murari said the global advisor, who will select the strategic partner for the company, will be appointed by the end of the current financial year as per the recommendations of the disinvestment commission.

ITC Classic Stock Broking chief quits

Indo Gulf Fertilisers plans refinery to extract gold, silver

KIOCL to select strategic partner by year-end

BFL, Italian firm to set up venture

Pechiney to set up mega aluminium unit in Orissa

SAIL to exit from non-core ventures

Godrej adds "freshness" to its soap brand

NIIT, Japan firm form 50

Financial Briefing -- RBI embargo on 2 finance firms

MSEB defers $50-million external debt plan

IDFC keen on forming venture to offer financial guarantees

Coca-Cola, Fanta plan launch in Kerala