EID PARRY (I) ACQUIRES CAUVERY SUGARS & CHEM
Article Abstract:
The Murugappa group's Rs913-crore EID Parry (India) Ltd (EPIL) has acquired a controlling stake of 58 percent in the sick Cauvery Sugars and Chemicals Ltd (CSCL). The acquisition is estimated to have cost EPIL Rs40 crore. The Rs30-crore CSCL has accumulated losses of Rs24 crore. The Board for Industrial and Financial Reconstruction (BIFR) had sanctioned a revival package in January 1998 for CSCL. The scheme envisaged infusion of Rs16.70 crore as fresh equity by CSCL's promoters and associates. Its promoters include Santhanalakshmi Investments Ltd (SIL), a subsidiary of EPIL. CSCL, which increased its authorised and paid-up capital to Rs22 crore, allotted equity shares for Rs12.08 crore to SIL for its share of contribution. This enabled EPIL to increase its stake to a controlling holding in CSCL. CSCL's promoters have also offered to sell their 24 percent stake in the company to EPIL. The new promoters will also acquire the 9 percent stake held by the financial institutions in CSCL. CSCL has a sugar factory in Tiruchi with a crushing capacity of 2500 tonnes of cane a day. (rs)
Comment:
Sells 58% stake to EID Parry India for an estimated price of Rs40 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BANGALORE WATER SUPPLY AND SEWERAGE BOARD: CAUVERY STAGE IV TO THE RESCUE
Article Abstract:
The phase I of Cauvery Stage IV is likely to supply 270 million litres of water per day to Bangalore city. The project will be implemented in two phases. The population of Bangalore is projected to reach 7 million by 2011 AD. The Bangalore Water Supply and Sewerage Board (BWSSB) supplies 705 million litres per day to the city. The net per capita supply is 100 litres per day. The first three stages of the Cauvery Project yielded 540 million litres a day. The stage IV project includes source works on the Cauvery river, water treatment plants, forwarding pumping stations and transmission to service reservoirs. The existing channel between Shiva Anicut to Netkal reservoir will be modified or a direct pipeline will be laid from Shiva Anicut to TK Halli treatment plant. The treatment plant will deliver 270 million litres of potable water a day. The water will be pumped to reservoirs in Hegganahalli and Kotnur Dinne. (rk)
Comment:
India: Phase I of Cauvery Stage IV is likely to supply 270 mil litres of water per day to Bangalore city
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BANGALORE WATER SUPPLY AND SEWERAGE BOARD: TOWARDS THE NEXT MILLENNIUM
Article Abstract:
The Bangalore Water Supply and Sewerage Board (BWSSB) has decided to implement water recycling and improve its distribution systems to save wastage. The Cauvery fourth stage water project is to be implemented in two phases. The first phase involves laying a transmission pipeline from the Netkal balancing reservoir to Thorekadanahalli which would then be connected to Bangalore. This scheme will add 270 million litres daily to Bangalore's existing water supply. The first phase involves an outlay of Rs1072 crore including financial assistance of Rs985 crore from the government of Japan. (khr)
Comment:
The Bangalore Water Supply and Sewerage Board (BWSSB) has decided to implement water recycling and improve its distribution systems to save wastage.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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