7 JUTE MILLS IN WEST BENGAL LIMPING TOWARDS CLOSURE

Article Abstract:

Nearly seven jute mills in West Bengal are either locked out or on their way towards closure. This is attributed to the depressed market for gunnies. The mills include Titagarh Jute, Caledonian Jute, Eastern Manufacturing, Kanoria Jute, Ludlow Jute, Hastings Jute and Gouripore. The closure is likely to affect 30,000 workers. The industry had been affected by low jute crop, high prices of raw jute and increasing labour costs. Output of raw jute has declined to eight million bales as against ten million bales in previous years. The jute crop has been affected by floods resulting in inferior quality and yield. The prices of gunny prices are also on the decline. (um)

Plant shutdown, All Other Miscellaneous Crop Farming, Jute, Jute (Fiber)

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PITRODA'S CO PLANS INTERNET PROMOTION ZONE IN BENGAL

Article Abstract:

Sam Pitroda, the Chairman and Chief Executive Officer of WorldTel (WT) of UK, plans to make an initial investment of Rs250-300 crore for setting up 500 Internet access centres in West Bengal. Each Internet centre will have personal computers, modems, telephones, fax machines and photo-copiers. WT plans to float an independent company in West Bengal for executing this project. (gs)

Comment:

Plans to make an initial investment of Rs250-300 crore for setting up 500 Internet access centers in West Bengal

Capital expenditures, Internet service providers, Article, World Tel Ltd.

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