MASKARA INDUSTRIES: A DIVERSIFIED BOTTOMLINE
Article Abstract:
Maskara Industries Ltd, a processing unit of polyester filament yarn, is diversifying its activities to produce polyethylene terepthalate (PET) chips. The unit is to be located at Nasik and have an installed capacity of 10,000 tonnes per annum. The project is estimated to cost Rs59.25 crore. The company plans to come out with a Rs5 crore rights offer to part-finance its project. It propose to issue five equity shares to shareholders for every three shares held. The company's paid-up capital will increase to Rs8 crore from Rs3 crore after the issue. The company plans to mobilise Rs14 crore through a preferential issue to promoter and collaborator. It also plans to raise Rs38 crore as debt from different financial institutions and banks. The project is scheduled to become operational by July 1998. (khr)
Comment:
Will produce polyethylene terepthalate chips that will have installed capacity of 10,000 tonnes per annum
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CUT IN CAPROLACTUM DUTY TO EAT INTO GSFC BOTTOMLINE
Article Abstract:
Gujarat State Fertiliser and Chemicals (GSFC), the second largest producer of caprolactum in India, is likely to be affected by the proposal to reduce the import duty on caprolactum. The import duty is to be reduced by 5 percent, from 30 percent to 25 percent. This will put imported caprolactum on the same price level as the domestic one. Global manufacturers of caprolactum may flood the Indian market with their low-cost product. In the last 5 years, GSFC has increased its capacity from 23,000 tonnes per annum to 70,000 tonnes per annum. GSFC holds 18 percent share in the caprolactum market in India. (uh)
Comment:
Is likely to be affected by proposal to reduce the import duty on caprolactum
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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TAX HOLIDAYS, DELICENSING TO FUEL REFINERS' BOTTOMLINE
Article Abstract:
The Budget for 1998-99 has offered tax holiday for the projects commissioned after October 1, 1998 till 2003. Reliance Petroleum, Indian Oil Corporation, Numaligarh refinery and Essar Oil's projects will be benefited by this announcement. The duty change in crude oil imports is minimal, as the oil pool was cushioning the five percent duty on crude. The government of India has decided to delicense the refinery sector. The refinery gate prices of petroleum products is likely to increase thus improving profits of petroleum companies. (rk)
Comment:
India: Govt offers tax holiday for oil projects commissioned after 10/1/98 until 2003
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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