Basant Kumar Birla, chairman, B K Birla Group, announced an ambitious
investment plan of more than Rs 1,200 crore in the next two years for
cement and tyre manufacturing units of Kesoram Industries at
the annual general meeting of the company today.
The expansion plan will involve an investment of around Rs 650 crore in a
greenfield car tyre project near Haridwar in Uttarakhand with a production capacity of 250 million tonne.
The company plans to augment cement production by 5 million tonne by
adding another unit at the Vasvadatta Cement unit. The investment in the
project would be close to Rs 500 crore.
Of the Rs 1,200 crore lined up for expansion, nearly Rs 250 crore will be
raised through internal accruals, and the rest will be funded through debt
from financial institutions.
Showing posts with label FI. Show all posts
Showing posts with label FI. Show all posts
Friday, June 29, 2007
Thursday, June 21, 2007
GAIL, IOC enters JV for gas distribution
Gail (India) Ltd has forged a joint venture with Indian Oil Corporation (IOC) for gas distribution in Kolkata and other towns, chairman and managing director of the company U D Choubey said on Thursday.
Choubey told reporters the new company would be incorporated shortly, and the estimated investment would be around Rs 500 crore.GAIL and IOC would hold 22.5 per cent each. Other equity partners are West Bengal government (five per cent) and financial institutions (50 per cent).
Choubey said gas distribution would be possible only after completion of Jagdishpur-Haldia pipeline in 2011.In the meantime, GAIL would make efforts to source coal bed methane (CBM) from the Asansol region, following which it would be distributed in cylinders after compression. He said piped natural gas was cheaper than LPG sold in cylinders.
Choubey told reporters the new company would be incorporated shortly, and the estimated investment would be around Rs 500 crore.GAIL and IOC would hold 22.5 per cent each. Other equity partners are West Bengal government (five per cent) and financial institutions (50 per cent).
Choubey said gas distribution would be possible only after completion of Jagdishpur-Haldia pipeline in 2011.In the meantime, GAIL would make efforts to source coal bed methane (CBM) from the Asansol region, following which it would be distributed in cylinders after compression. He said piped natural gas was cheaper than LPG sold in cylinders.
Monday, June 4, 2007
UB starts talks with FIs to fund Deccan take over
Vijay Mallya-promoted UB Group, which has acquired 26 per cent stake in Air Deccan for Rs550 crore and is to buy another 20 per cent through an open offer, has initiated talks with financial institutions to fund the takeover.
UB Holdings has only four weeks time to tie up funds and the process of talks with financial institutions have begun, said UB Group Chief Financial Officer Ravi Nedungadi.
Last week, Mallya's UB Group paid an advance of Rs 150 crore toward the 26 per cent stake -- which would be through an issue of 96,77,419 fully paid-up equity shares.
The remaining amount would be paid to Air Deccan's promoter Deccan Aviation Ltd in the coming four weeks. The transaction had valued Air Deccan at Rs 155 a share.
Read more in The DNA Money article.
UB Holdings has only four weeks time to tie up funds and the process of talks with financial institutions have begun, said UB Group Chief Financial Officer Ravi Nedungadi.
Last week, Mallya's UB Group paid an advance of Rs 150 crore toward the 26 per cent stake -- which would be through an issue of 96,77,419 fully paid-up equity shares.
The remaining amount would be paid to Air Deccan's promoter Deccan Aviation Ltd in the coming four weeks. The transaction had valued Air Deccan at Rs 155 a share.
Read more in The DNA Money article.
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