BSES MAY TAKE 51% IN TWO ORISSA POWER Cos

Article Abstract:

BSES is likely to buy 51 percent stake in two distribution companies in Orissa in which the state government is divesting its stake. BSES is Mumbai based company which has diversified into power generation and coal washery. BSES has competed with Tata Electric and AV Birla group for buying 51 percent stake in three zonal distribution companies. The state government had called for bids for zonal distribution companies. It is likely to call for bids in central distribution company on February 8, 1999. BSES had quoted Rs21, Rs12 and Rs15 per share for the three zone it has bid which is higher than Tata Electric and AV Birla group. The investment bankers for the divestment are Dresdner Kleinworth Bensen and CS First Boston. (rk)(m)

Diversified Companies, BSES Ltd.

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TEC BAGS ONE ORISSA POWER Co

Article Abstract:

Tata Electric Companies (TEC) of Mumbai has won the competition in acquiring 51 percent stake in a power distribution firm, Central Electric Supply Company of Orissa Limited (Cesco). Cesco has been promoted by the Grid Corporation of Orissa Limited (Gridco). BSES, the lone competitor to TEC, had quoted Rs33.41 crore for 51 percent stake in Cesco as against TEC which had quoted a higher price of Rs41 crore. TEC has formed a consortium by tying up with the Viridian Group. (gs)(m)

Comment:

Tata Electric Companies (TEC) of Mumbai has won the competition in acquiring 51 percent stake in a power distribution firm, Central Electric Supply Company of Orissa Limited (Cesco).

Electric Utilities, Electric Power Generation, Transmission and Distribution, Tata Electric Cos.

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FACOR MOVES COURT OVER MINING CONTRACT IN ORISSA

Article Abstract:

Ferro Alloys Corporation (Facor) has appealed to the high court to stay the appointment of India Charge Chrome Ltd (ICCL) and Indian Metals and Ferro Alloys Ltd (IMFA) as contract mining agents for the Sukhinda chrome mines by the Orissa government. The state government's decision to appoint ICCL and IMFA is in violation to the decision of the Union government not to allow contract mining. (khr)

Comment:

Appeals to court to stay appointment of India Charge Chrome & Indian Metals & Ferro Alloys as mining agents for Sukhinda project

Legal issues & crime, Iron Ore Mining, Iron Mines, Iron mining, Article, Ferro Alloys Corporation Ltd.

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