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Friday, May 8, 1998
  HPCL signs fuel supply pacts with three IPPs
The Hindustan Petroleum Corporation Ltd (HPCL) has signed fuel-supply agreements (FSAs) with three major independent power producers (IPPs) in Karnataka. HPCL is all set to supply 0.5 mmtpa of naphtha to the state. The fuel-supply agreement includes the cost of transportation which will be borne by the power-generating companies. 		  State clears proposal to set up Godavari Irrigation Development Corporation
The state cabinet has cleared an irrigation department proposal to set up the Godavari Irrigation Development Corporation. It will cater to completion of 250 irrigation projects with an investment of Rs 3,900 crore in the next seven years.

Tarapore warns against turning blind eye to capital account accountablity
Former governor of the Reserve Bank S S Tarapore has warned that current account convertibility will land the economy in confusion unless planned progress is made towards capital account convertibility. According to him, capital account convertibility is possible if the fiscal deficit and the inflation is under control and the current account deficit is manageable. 		Global firms vie for Essar plant contract
A host of big names in the global engineering, procurement and construction (EPC) business is in the race to secure a contract for the 500 MW power plant being set up by the Essar group in Gujarat. The list includes a consortium of Sumitomo, IHL and the US-based General Electric, Hyundai, Asea Brown Boveri, Snam Progetti of Italy, Lentjes AG and Global Energy of the US.


Touchwood Agrotech Pvt. Ltd.

Global Tenders invited by MSTC

Screen: The Business of Entertainment

 
George Soros to pick up 40% stake in Oswal Asia Fertilisers'project
The George Soros group has decided to pick up 40% equity in the Rs 1,530-crore Sangrur fertiliser project of Oswal Asia Fertilisers Ltd. Oswal Asia is a joint venture between the Ludhiana-based Lala Vidyasagar Oswal group and the Punjab State Industrial Development Corporation.
Orchid Chemicals net up 11% to Rs 34 crore
The Chennai-based Orchid Chemicals & Pharmaceuticals has reported a 11% rise in its net profit to Rs 34.07 crore for the year ended March 31, 1998, against Rs 30.64 crore posted the previous year. Sales and operating income have risen by 25 per cent to Rs 242.43 crore from Rs 193.68 crore.

 


CORPORATE
BIFR reopens earlier Binny case reference
Centre may trim borrowing plan

ECONOMY
Sinha buys time from Jagran Manch on key demands
ModiLuft to challenge court ruling on wind-up

EXPRESSIONS
Integrated complex may boost IPCL fortunes
Cadbury improves valuations

MARKETS
ICICI Bank scrip has few takers despite good results
IDBI shows laggards way to realise call money

LEISURE
Fusion of man and material ideal: Jhingon
CPA 1986 provides for compensation

CRY -- You can make a difference