RPL TO RAISE Rs2,860 CR MORE FOR REFINERY PROJECT
Article Abstract:
Reliance Petroleum Ltd is raising Rs2,860 crore more through loans, lease finance and external commercial borrowings (ECBs) to finance its refinery at Jamnagar. The total cost of the refinery is now estimated to be Rs13,800 crore. Earlier it was estimated to cost Rs10,780 crore. The revised estimation of the cost of the refinery has been due the foreign exchange rate fluctuations (Rs250 crore), increased capacity (Rs1,500 crore), higher interest cost (Rs900 crore) and higher margin (Rs300 crore). The production capacity of the refinery has been increased to 27 million tonnes. Production at the refinery is likely to begin from October 1, 1999. (uh/kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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TEC SEES 10% DROP IN Q3 NET
Article Abstract:
Tata Electric Companies (TEC) has posted a 10 percent fall in its net profit during the third quarter of 1998-99. During the period, the net profit fell to Rs79.56 crore (Rs88 crore during the third quarter of 1997-98). It also recorded slump in the total sales to Rs560 crore (Rs612 crore). (ag)(psr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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