The Financial Express -- News

Thursday, December 11 1997

Canadian firm, L&T to bag Chandil power project

The Bihar government has issued a request for proposal (RFP) document to Amalgamated Transpower, a consortium of Ontario Hydro of Canada and Larsen & Toubro, to develop the Chandil hydroelectric power project. The RFP is the first one that allows bulk sale of power to a third party and individual industrial consumers and is not based on any power purchase agreement with the state electricity board.

Atul, BASF may terminate VAT dyes pact in '98

The Rs 486-crore Atul and German multinational BASF AG are likely to terminate their VAT dyes distribution agreement with effect from April 1, 1998. The original agreement allowed BASF to exclusively distribute VAT dyes manufactured by Atul all over the world except in the Indian and US markets. BASF will, however, continue buying VAT dyes from Atul in future.

Lloyds Securities seeks FIPB nod to divest 75% to foreign partner

Lloyds Securities, the beleaguered securities firm belonging to the high-profiled Lloyds Finance, has decided to get out of the securities trading business, albeit slowly. The group's financial arm Lloyds Finance with an asset base of over Rs 1,000 crore has been beset with fund problems like other NBFCs in the aftermath of CRB episode.

Intelligence bureau plans eye in the sky to spy on planes

Income-tax department to wind up VDIS grievance redressal cell