Centre keen to resolve Oman project issues
The Centre is looking into the issue of resolving problems relating to the Oman India Fertiliser project, including a provision for compensation of $35 million to be paid by the Sultanate of Oman, in case of failure to supply gas.The approval was given at a meeting of the cabinet committee on economic affairs (CCEA), Parliamentary Affairs Minister Pramod Mahajan said. The Indian partners are Kribhco and IFFCO.India, Brazil ink MoU
During the last few years, Brazil has emerged as a new export market for India's chemcial exports. To explore more export opportunities in Brazil, a memorundum of understanding (MoU) has been signed between Basic chemicals, pharmaceuticals and cosmetics export promotion council (Chemexcil) and Consello Empresarail Brasil-India (CEBI) in Mumbai. According to the Chairman of Chemexcil, Kishore Chokani, as per the MoU, CEBI will assist the Council members in locating right partners, providing updated information which would enable the exporters to have a manifold share in the Brazil market.
The Council expects that with the MoU, there is likely to be an increase in chemical exports of around 30 per cent from the current level.
During 1999-2000, exports to Brazil was around Rs 1,627.10 million and among the other dyes and dyes intermediates, organic, inorganic, agro-chemcials, cosmetic and toiletries were exported.
Mr Chokhani said that, Brazilian indusrialists and importers have started realizing the advantages of import of these items from India, due to low cost and constant supply of the same. Some of the top pharmaceutical companies of India, such as Dr Reddy's Labs, Ranbaxy and Core Health Care have established their presence in Brazil, either through exports or joint ventures or investments, as the case may be.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
