Friday, September 11, 1998
Hindalco may reshuffle India Foils management
Hindalco Industries Ltd, the Rs 20,000-crore AV Birla group flagship, is expected to change the entire top management team at BM Khaitan's India Foils Ltd after it takes over the company. The post of managing director, which has been lying vacant since the death of P Bajaj in February this year, will be filled by a Birla nominee from Hindalco.
VSNL to earmarks Rs 400 crore for switch facility
The state-owned Videsh Sanchar Nigam Ltd (VSNL) has chalked out a Rs 400-crore plan which will create additional switching infrastructure in the four metros for leasing them to the basic telecom service providers. As per the plan mooted by the company, digital switches with a capacity of 1,00,000 lines each would be installed in each of the four metros (Delhi, Calcutta, Mumbai and Chennai) which in turn will be leased to the basic service providers operating in these cities on commercial terms.
Ceat to set up greenfield radial-tyre unit
Ceat Ltd, the RPG group's tyre flagship, will set up its own radial tyre facility following its decision to pull out of a joint venture with Goodyear Tyres of USA. The radial facilities will be set up in two stages. In the first stage, the Nashik plant will be upgraded at a cost of Rs 40 crore to make radial tyres. In the second stage, a greenfield unit will be set up.
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