Sunday, August 30, 1998
FIPB clears Rs 300-crore investment; BNP gets nod
The Foreign Investment Promotion Board (FIPB) has reportedly cleared the applications of Banque Nationale de Paris, Ispat Industries, ABN Amro and Otto Burlington among others involving foreign equity of around Rs 300 crore.
World Bank pressure forces Karnataka to set up power regulatory authority
The Karnataka government has decided to constitute an independent power regulatory authority and to allow private sector entry in transmission and distribution of power. The regulatory authority was a necessity as the World Bank had made a pre-condition of linking reforms in power sector to loans whenever financial assistance was sought by the state.
Four arrangers in race for MSEB Kaperkheda plant
The race is on between the IDBI, IL&FS, Kotak Mahindra and ICICI to arrange lease finance for MSEB's 420 MW Kaperkheda power plant. The four companies have already submitted their bid proposals and MSEB is expected to finalise the name shortly.
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