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Power Grid, UK company likely to set up joint ventures home and away
The UK-based power major National Grid Corporation (NGC) and the Power Grid Corporation of India Ltd (PGCIL) have now embarked upon a new plan of action. The two companies are planning to forge two separate tie-ups -- one each for domestic and overseas transmission activities. The groundwork for the Indian venture has already been finished and the companies are now in the process of finalising arrangements for the overseas joint venture.
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Whirlpool Financial merger approved
Decks have been cleared for the merger of Whirlpool Financial India Pvt Ltd (WFIL) with its parent company, Whirlpool of India (WoI). The WoI board approved the merger at its meeting in New Delhi. This move comes in the wake of a planned recast of Whirlpool's sales and service wings to bring them under one head.
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Nicholas Piramal plans to vitaminise Hindustan Lever's new tea brands
Vitamin-enriched tea may soon be available for the country's consumers, if the joint efforts of Nicholas Piramal, India's largest Vitamin A producer, and Hindustan Lever bear fruit. The two companies are mulling a deal wherein the Piramals will enrich some of Lever's new tea brands with vitamins. The Piramals' global partner, Swiss healthcare giant Roche Holding, is already supplying vitamins for certain Lever products internationally.
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Air India whittles down fleet acquisition plans
The national carrier Air India (A-I) has drastically toned down its fleet expansion plans. Whereas A-I was earlier planning to purchase 23 medium capacity long range (MCLR) aircraft, it has now decided to acquire only 10 MLCR aircraft. A-I will now be looking at a short-term fleet expansion and has already made plans for purchase of four aircraft by the year 2001.
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