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Daewoo shelves Rs 1500 crore Punjab hydel project
The $65-billion South Korean giant, Daewoo Corporation, has decided to shelve its plans for taking up the Rs 1,500-crore, 168MW Shahpurkhandi-A hydro electric power project in Punjab. Daewoo has already conveyed its decision to the Punjab State Electricity Board (PSEB).
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SAIL likely to incur loss this fiscal
The state-run Steel Authority of India Ltd (SAIL), one of the navratna firms, is heading for a loss after being out of losses for over a decade. Although SAIL reported a profit of Rs 48.53 crore in the first half of the current fiscal, the gloomy market situation is leading the steel major into losses and financial crisis
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Govt rules out distress divestment Question mark over IOC GD
Cabinet Secretary T S R Subramanium has ruled out a distress sale of state-run firms' shares to meet divestment targets set by the finance ministry. He said that there was no compulsions to meet the collection figure of Rs 7,000 crore set by the United Front government. He aslo said that the issue of Rs 18,000-crore worth of petro bonds could await the formation of a new government.
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Staff negligence led to HPCL mishap: report
The A B Sathe Committee appointed to probe the September 14 fire mishap at the Visakh refinery of Hindustan Petroleum Corporation Limited (HPCL), has concluded that negligence of the staff in closing the valves of spheres had led to the accident.
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