Monday, June 15, 1998
Marico revamps operations to take on MNC might
Marico Industries, locked in a no-holds barred battle in the bruisingly tight, multinationals-dominated personal products and foods market, in a bid to strengthen competencies and improve co-ordination, has reorganised its operations into three distinct businesses which will function as profit centres. These are nature care, health care and international business.
Tisco's Gopalpur project hits a roadblock
Tata Iron & Steel Co's Gopalpur project is facing a new problem with the Orissa urban development department objecting to the supply of water from river Rushikulya. Tisco would require about 65mgd water for its steel plant and township at Gopalpur. The water would be supplied from a reservoir constructed across the river Rushikulya at Pipalapanka.
UK firm gets FIPB approval to hike stake in Kondapalli Power to 93%
The Foreign Investment Promotion Board (FIPB) has cleared the proposal of UK-based Eastern Generation Services Ltd-controlled Kondapalli Power Corporation Ltd to hike foreign equity to 93 per cent from the present level of 75 per cent. Of the fresh 18 per cent foreign stake being brought in the company, Korea Heavy Industries and Construction Co Ltd is acquiring 11 per cent stake to become the fourth major investor in the project.
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