SHELL-MONTELL TO BRING IN HUGE FUND FOR NPL
Article Abstract:
Nocil Petrochemicals Ltd (NPL) is raising its production capacity of ethylene from 75,000 tonnes to 4.50 lakh tonnes. The project, code named Lotus, is likely to be completed by 2003 AD. NPL has been formed through the de-merger of the petrochemical business of Nocil. Shell-Montell (SM) is to invest about Rs1,000 crore in the equity of NPL in the next 5 years. SM will acquire 49 percent stake in NPL through preferential allotment of shares. It will arrange for loans of about Rs2,000 crore for NPL for part-financing of Project Lotus. NPL's net worth is expected to be Rs2,000-2,200 crore after the completion of the project. Its turnover may be Rs10,000-12,000 crore. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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WE NEED TO CREATE AFFORDABLE MEDICAL DEVICES: KALAM
Article Abstract:
Dr APJ Kalam, a noted scientist and advisor to the defence ministry, has said that India must create infrastructure which is capable of producing medical devices at an affordable cost. Speaking at the tenth National Conference of the Society for Biomaterials and Artificial Organs, being held at Thiruvananthpuram, he said that India must minimise the dependence on imported medical technology by producing medical equipment using technology available within the country. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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