NEW DELHI: As many as 408 ships were broken during 1996-97 all over India for 28.64 lakh light displacement tonnes (LDT) which is the highest-ever tonnage of ships broken in India.

India had a prominent place among the shipbreaking countries in the world till 1994 when, 368 ships were broken for 24.27 lakh LDT making the country the largest ship-breaker in the world.

The shipbreaking activity grew into a full-fledged industry by 1979 when the government recognised the activity as a small scale industry. It makes a significant contribution to the availability of steel. It generates steel directly used by the rerolling industry for production of rolled products used in the construction industry, a release said.

UB beer export

MUMBAI: United Breweries Ltd, the flagship company of the UB group has emerged as the largest exporter of beer in the country. It accounted for 70 % of the total beer exports during the year. It has won the APEDA award for the last two years consecutively.

ANZ bank

MUMBAI: ANZ Investment bank has signed a facility with the Konkan Railway Corportaion Limited for a deal worth $ 11.5 crore last week to complete the finacing package for a new 760 kilometre rail link connecting Mumbai and Mangalore on India's west coast.

The project is India's first build, operate, transfer (BOT) scheme and is being executed by a specially formed company owned by the Government of India and and states of Maharashtra, Karnataka, Goa and Kerala. Transfer of ownership will be made to the railways in approximately 10 years after all the debt is repaid.

Eicher profit up

MUMBAI: Eicher Ltd has registered a 20 % increase in turnover and a 30 % increase in profit after tax (PAT) and recommended a 30 % dividend for the financial year 1996-97.

Overall sales for the fiscal was Rs 557.8 crore as against Rs 463.6 crore while pat for 1996-97 was Rs 30.07 crore as against Rs 22.97 crore in 1995-96.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.