Friday, September 25, 1998
Insurance Bill in next session
Finance Minister Yashwant Sinha has assured the foreign investors that the private participation in the insurance sector would be approved by Parliament during the next session and a new regime of balanced taxation would be in place during the next financial year.
Essar Oil hives off port project to ESL
Essar Oil Ltd. of the Ruias has hived off its R 1,435-cr all-weather port project in Vadinar, Gujarat, to its group company, Essar Shipping (ESL) "as the project was far from completion". With this, Essar Shipping would be taking over all the liabilities of the infrastructure project.
MRL pulls out of Arochem project
At long last, after one of the most bitter corporate wars fought in Tamil Nadu between two petrochmecial 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) project.
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