IFC CLEARS $35-M INVESTMENT FOR SARSHATALI PROJECT
Article Abstract:
International Financial Corporation (IFC) has approved a $35 million investment in Sarshatali coal mining project. The project is promoted by the RP Goenka group. IFC, an affiliate of the World Bank, stopped lending to India except for projects of basic human needs. The recent approval of investment is an indication that the United States has stopped opposing loans to India. Some projects which will receive financial assistance from the IFC are Moser Baer's $15 million compact disc production project, Western Biosystem's $3.85 million project for bagasse based particle board unit, Carraro's $10 million project of tractors production and RPG Cellular's $9 million project. Britain, France, Italy and Australia have voted in favour of IFC's investments in India. (rk)(m)
Comment:
International Financial Corporation (IFC) has approved a $35 million investment in Sarshatali coal mining project.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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SFL HOPES TO BENEFIT FROM MELLON'S TAKEOVER OF NEWTON
Article Abstract:
Sundaram Newton Asset Management Company Ltd (SNAM), a joint venture between Sundaram Finance Ltd (SFL) and Newton Management Ltd (NML) of the UK is expected to benefit from the takeover of NML by Mellon Bank of the US. SFL says that whatever benefits NML gets from its acquisition will flow to SNAM too. SNAM, which is designing an overseas fund, will also get a better reach in the international markets. (khr)
Comment:
Is expected to benefit from takeover of Newton Mgmt, one of joint venture partner in the firm, by Mellon Bank of the US
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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