Cogentrix
NEW DELHI: The financing of the Rs 4400 crore, 1000 mw Mangalore power project of Cogentrix and CLP Power International, will suffer a serious setback and its power purchase agreement (PPA) may now have to be re-opened for the fourth time. This follows the recent decision of the finance and power ministries to withdraw the counter guarantee cover for monthly payments by the state electricity boards (SEBs) along with new norms like income tax on bonus generation and tariff heat rate, under the revised counter guarantee terms for the fast track power projects. Thepromoters of this project have strongly objected to the moves made by thetwo ministries.

ANZ Investment
MUMBAI: ANZ Investment Bank has been appointed as the sole global advisor for the disinvestment/strategic sale of the government of India's stake in Modern Foods Industries (India) Ltd, one of the largest food processing companies in the country. This is the first mandate of its kind awarded by the government of India. As the global advisor, ANZ Investment Bank will be instrumental in examining both restructuring options for Modern Foods and in the potential search for an international investor/partner.