TN offers naphtha linkage to Polysindo: Indonesian conglomerate Polysindo is back in the reckoning in Tamil Nadu's power generation sector with the state electricity board promising naphtha linkage to its troubled 138 mw project at Manali near Chennai. The assurance was given at ameeting on Saturday between officials of the Tamil Nadu State Electricity Board (TNEB) and independent power producers (IPPs) who had been awarded contracts to put up 20 short-gestation liquid fuel-based projects in the state, says PTI quoting top sources at Polysindo.ONGC to drill 100 wells in Bihar: Oil and Natural Gas Corporation Ltd, has plans to drill around 100 wells for methane in the Bihar coal belt in its bid to venture into frontier areas, according to Jauhari Lal, director, ONGC (personnel). The ONGC had also started off its first ever deep water drilling in the country in the Cauvery offshore and proposed to drill more such wells, he said in his address at the two-day joint committee meeting with tradeunions that concluded in Chennai today. Lal said during 1997-98 the ONGC had made an all-time record profit of Rs 2,677 crore. It had won overseas contract for drilling in Bangladesh and Oman.
Hydro power project commissioned: Bharat Heavy Electricals Ltd (Bhel) has successfully commissioned the maiden unit of the Kodasalli hydro--electric project (HEP) in Karnataka. The 120 mw venture, to be equipped with three units of 40 mw each, situated in the Uttar Kannada district of Karnataka, will utilise water from the Kali river. The commissioning of this hydro electric project has added five lakh units of power daily to the state grid.
Eastern India refinery work to begin soon: Work on the Rs 8,270 crore eastern India refinery, being jointly promoted by the Indian Oil Corporation (IOC) and Kuwait Petroleum Corporation (KPC), at Abhayachandrapur near Paradip port is expected to commence soon. The nine million tonne per annum project, to be known as eastern India refinery and expected to becompleted by the year 2002, would process crude oil originating predominantly from the middle-east oil countries, according to an official release in New Delhi today.
LG to invest $ 300 m local investment: South Korean electronics giant LG is planning to invest about US$ 300 million in India over the next ten years, quite undeterred by the south-east Asian currency crisis. LG set up shop in India in May last year, investing about US$ 60 million, which, according to sources, is to be stepped up to US$ 150 million by 2000. LG achieved a turnover of Rs 200 crore in the first 11 months of its operations in India.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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