Wednesday, June 24, 1998
Russia to extend 85% of debt in Kudankulam power plan
Russia will cater to 85 per cent of the debt requirement for the 2000-mw (2x1000 mw) nuclear power-plant being commissioned in Kudankulam, Tamil Nadu. The project, which costs around $3 billion, will be jointly executed by the Nuclear Power Corporation (NPC) and experts from Russia. Russia will provide a long-term soft loan as part of its debt contribution which also includes a $50 million for preparing a detailed project report (DPR) for which the bilateral agreement was signed last week.
"Pugree" system may be legalised in Maharashtra, says housing minister
In a crucial development that may revolutionalise housing finance, the Maharashtra government is meeting to discuss a path-breaking proposal to legalise the age-old off-market Pugree system. The joint select committee comprising which has been appointed to frame a new Rent Control Act will consider today proposals that include the legalisation of the traditional practice of a lumpsum paid off-market and without a receipt in lieu of the right to go for long-term property leases.
Ministry projects bleak outlook for aluminium
The domestic aluminium industry faces a bleak future following the collapse of the lucrative south Asian markets and a slow down in demand, according to the mines ministry annual report. "Prospects are far from sanguine. If projections prove to be near the mark then the market will record a small surplus over the next two years and may lead to a rough balance," the report for 1997-98 says.
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