Saturday, June 20, 1998
Vikram Ispat hikes sponge iron capacity to 9 lakh tonnes a year
The Aditya Birla group has quietly increased the sponge iron capacity of Vikram Ispat, the steel subsidiary of flagship company Grasim Industries, to nine lakh tonnes per annum by commissioning a direct reduced iron (DRI) line. With this new line, the Vikram Ispat unit will be the only facility worldwide to produce DRI and hot briquetted iron (HBI) from the same reactor.
Spic keen on out-of-court settlement with Madras Refineries -- Muthaih
Southern Petrochemicals Industries Corporation Ltd (Spic) vice-chairman and president AC Muthiah said on Friday that the corporation was keen on an out-of-court settlement with Madras Refineries Ltd (MRL) to sort out the tangle over their proposed joint venture -- SPIC Petrochemicals Company Ltd (SPC). Spic and MRL have been at loggerheads over the SPC project ever since Spic decided to float a separate company called SPC for manufacturing PTA ignoring its joint venture with MRL.
Hindustan Lever set to slash coconut hair-oil price
Hindustan Lever Ltd (HLL) is set to slash the price of its coconut hair-oil brand Nihar. This is in response to the recent 12% price cut by Marico Industries of its leading brand Parachute. The cut will come into effect within eight to 10 days.
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