Monday, September 7, 1998
Centre open to Tatas' airline plan: Kumar
The government has an open mind on the aborted Tata Airlines project but the initiative will have to come from the Tatas now, said civil aviation minister Ananth Kumar on Sunday. "Nothing is closed. Our counter is very much open. The tunnel is not a dark and endless one," Kumar said. The minister, however, categorically stated that the government would not approach the Tatas to review its decision to withdraw from the Rs 1,475 crore project.
ONGC to re-examine stake option in Bina venture plan
Cost, capacity and marketing are three basic issues which have prompted the Oil and Natural Gas Corporation (ONGC) to go slow on its plans for the refinery sector. A special committee in the corporation has reportedly been directed to re-examine the viability of picking a stake in the 6-million-tonne Bina refinery being promoted by Bharat Petroleum Corporation and the Oman Oil Company.
Institutions dither on stake pick-up in Subhash Chandra's Ascom project
Financial institutions are hesitant to take an exposure in media baron Subhash Chandra's ambitious $1-billion (Rs 4,200 crore) Afro-Asian Satellite Communication (Ascom) satellite telecommunications venture. The project plans to source about Rs 2,000 crore as loans from institutions and banks.
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