RCF'S SHIPPING JV WITH SCI OKAYED
Article Abstract:
Rashtriya Chemicals and Fertilizers (RCF) has received the approval of the Ministry of Surface Transport (MoST) to float a joint venture with Shipping Corporation of India (SCI). The new shipping venture will transport urea to India from Oman. The urea will be produced by Oman India Fertilizer project which is co- promoted by RCF, Kribhco and Oman Oil Corporation. The new venture will acquire a Rs125 crore dry bulk carrier in the range of 30,000 dead weight tonnage (dwt) to 40,000 dwt. (ag)
Comment:
Gets approval to float joint venture with Rashtriya Chemicals & Fertilizers to transport urea to India from Oman
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SHIPPING: HIGH AND DRY
Article Abstract:
The recent rejection by the finance ministry to allow higher depreciation for the shipping industry is expected to augment freight bill considerably, estimated to touch Rs55,000 crore in three years' time. At present, the rate of depreciation allowed for ships is 20 percent compared to 40 percent allowed for aircraft and commercial vehicles. The ministry has also rejected more flexible ECB norms like quicker maturity periods and higher loan limits for the industry. (gsh)
Comment:
India: Recjection of higher depreciation for shipping industry is expected to augment freight bill considerably
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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$200 M FDIs OKAYED, GE-SBI PLANS GET NOD
Article Abstract:
The Foreign Investment Promotion Board (FIPB) has given clearance for about $200 million of foreign direct investments (FDIs). These investments also include two proposed joint ventures between GE Capitals and State Bank of India. FIPB has cleared a significant number of joint ventures in auto ancillary segment. It has approved investments worth of about Rs75 crore. (gs)
Comment:
India: Foreign Investment Promotion Board gives clearance for about $200 mil of foreign direct investments
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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