Sunday, September 6, 1998
Rothmans' plan put off by month
The Foreign Investment Promotion Board (FIPB) has deferred by four weeks a proposal of Rothmans of Pall Mall to set up a wholly-owned cigarette manufacturing subsidiary in the country.
Videsh Sanchar Nigam set to invest Rs 5,200 crore during Ninth plan
The Videsh Sanchar Nigam Ltd (VSNL) plans to invest Rs 5,200 crore during the Ninth Five Year plan in transmission and switching infrastructure, global mobile satellite services and direct to home service.
Institutions clear ITC Bhadrachalam loan
ITC Bhadrachalam Paperboards Ltd (ITC-BPL), which owes banks and financial institutions about Rs 398 crore as on March 31, 1998, has been sanctioned additional loans besides an in-principle commitment to reschedule existing loans and `staggering interest rates.'
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