Sunday, February 14, 1999
Tatas not to withdraw from Gopalpur steel project
Tata Steel on Saturday clarified that it had no intention of withdrawing from its proposed shore-based steel project at Gopalpur in Orissa.
General Motors gets nod to buy CK Birla stake in venture
The Foreign Investment Promotion Board (FIPB) on Saturday approved General Motors' (GM's) proposal for buying out the 50% shareholding of the CK Birla group in General Motors India Ltd. The board also permitted GM to bring in additional $20 million for launching its new model, Corsa.
Piaggio plans to go it alone, may sell LML stake
Italian major Piaggio Spa plans to go it alone in India and set up a wholly-owned subsidiary for producing its range of two-wheelers, including the famed Gilera motorcycles. Piaggio is also considering selling off its stake in LML Ltd and pulling out of the venture.
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