Friday, June 19, 1998
Ministry musings lull Bhadrawati plan
Uncertainty looms large over the installation of the Rs 4,630.90-crore coal-based 1,082 MW power project by the Central India Power Company (Cipco) in Bhadrawati taluka, Chandrapur district. The power ministry, while giving a conditional counter-guarantee for the project, has said that the income tax would not pass through on the incentive and the state heat rate would be taken on an actual basis while determining the tariff.
State Bank to create separate business unit for consumer financing
The State Bank of India (SBI) has decided to create a separate business unit (SBU) for the personal finance segment. This is for the first time that a state-run bank is creating a SBU for consumer financing, the traditional domain of a few foreign banks and non-banking finance companies. This also signifies a strategic shift in SBI's business focus.
Oswal Chem plans Talcher project
Oswal Chemicals and Fertilizers has submitted a proposal to the Union government to set up a Rs 5,150 crore ammonia/urea fertiliser project at Talcher in Orissa. The Rs 5150-crore coal-based project will have an installed capacity of 2.1 million tonnes per annum.
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