BECHTEL-M&M, L&T CLOSE IN ON TIDCO PARK

Article Abstract:

The public sector Tamil Nadu Industrial Development Corporation (Tidco) has short-listed Larsen & Toubro (L&T) and a consortium of Bechtel Enterprises of USA and Mahindra & Mahindra for setting up its 7,100-acre petro-chemicals park near Chennai. The selection of the 15-year concession partner would done by February 1999. The partner will develop the park, maintain it for 15 years and market it to Indian and foreign industries. Works for water supply, road access, drainage and effluent treatment are also included in the Rs600 crore contract. Tidco has floated a company - Tamil Nadu Petrochem Park Ltd - with a capital of Rs100 crore to manage the park. The concession partner may float a special purpose vehicle, if needed, to set up the park. The first phase of the park is expected to be operational by July 2002 AD and the second phase by 2008 AD. The total investment over 10-12 years is estimated to be $6-7 billion. (nr)

Comment:

The public sector Tamil Nadu Industrial Development Corporation (Tidco) has short-listed Larsen & Toubro (L&T) and a consortium of Bechtel Enterprises of USA and Mahindra & Mahindra for setting up its 7,100-acre petro-chemicals park near Chennai.

New orders received, Chemicals & Allied Products, Chemical Manufacturing, Use of materials & supplies, Chemicals, Larsen and Toubro Ltd., Bechtel Enterprises, Tamil Nadu Industrial Development Corporation Ltd.

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ICICI BANK TO OFFER INFRASTRUCTURE LOANS FROM RIB FUNDS

Article Abstract:

Loans from the fund of the rupee proceeds of the Rs189 crore Resurgent India Bonds issue of the State Bank of India (SBI) will be offered for infrastructure projects by the ICICI Bank. The bank has received the fund from SBI at the rate of 9.5 percent. It plans to offer loans from this fund for infrastructure projects at 12.75 percent. The ICICI Bank has already got Rs189 crore in 2 tranches of Rs84 crore and Rs105 crore. The bank is expecting some more funds. (ag)

Securities issued, listed, Securities Brokerage, Stockbrokers, State Bank of India, ICICI Securities and Finance Co.

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