Friday, September 25, 1998
Metal Box's new revival deal pegged at Rs 108 crore
The promoter of Metal Box (India) has revised the company's revival package to Rs 108 crore after a meeting with its consortium of banks on September 22. This is the third revision this year, the Vinod Krishna-led management had pegged the figure at Rs 104 crore on July 15, down from the earlier Rs 139.82 crore.
It's official now: Madras Refineries opts out of Arochem project
At long last, after one of the most bitter corporate wars fought in Tamil Nadu between two petrochemical majors, there seems to be light at the end of the tunnel. MRL has finally decided to withdraw from the Arochem (National Aromatics and Petrochemicals Ltd) project. The proposal for withdrawal from Arochem has been sent to the ministry of petroleum for approval.
Nalco in Rs 185-cr diversification plan
National Aluminium Company (Nalco) is undertaking a Rs 185-crore diversification plan to venture into value-added aluminium products besides making specialised raw material for detergents. The investment is in addition to the corporation's on-going Rs 3,725 crore expansion of bauxite mines, alumina and smelter capacity.
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