RECOVERY HOPES DASHED AS GROWTH PLUMMETS TO 1.4%
Article Abstract:
The projections of an industrial recovery through a growth rate of 10 percent have been grounded as the index of industrial production (IIP) is only 1.4 percent for September 1998 and 3.6 percent for the first six months of 1998-99. This is compared to a growth rate of 8.5 percent for September 1997 and 6 percent for the first half of 1997-98. The IIP showed a growth rate of 1.7 percent in July 1998 and 2.4 percent in August 1998. The manufacturing sector has grown by only 2 percent in September 1998 against 4.2 percent in August 1998 while electricity grew by 2.6 percent against 6.8 percent. The mining segment, which had grown by 0.6 percent in August 1998, posted a negative growth rate of 4.9 percent in September 1998. (khr)
Comment:
The projections of an industrial recovery through a growth rate of 10 percent have been grounded as the index of industrial production (IIP) is only 1.4 percent for September 1998 and 3.6 percent for the first six months of 1998-99.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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DPC SHUTS PLANT TO RECTIFY PROBLEMS
Article Abstract:
The Dabhol Power Company, promoted by Enron, has shut down its power plant due to a condenser tube leakage. The company says that there are some minor problems which will be rectified and it hopes to start commercial operations by the end of March 1999. Bechtel and GE, the US-based engineering, procurement and construction contractors for the project, are working on rectifying the problems. The Maharashtra State Electricity Board has said that the company will have to run the plant continuously for 7 days to fulfill the performance test. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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