CHAMBAL FERT IN JV FOR $230-M MOROCCO PLANT

Article Abstract:

Chambal Fertilisers (CF) of the KK Birla group is setting up a 50:50 joint venture company - Indo Moroc Phosphore SA (MPSA) - in Morocco. It is being established in alliance with the world's largest phosphoric acid company, the Office Cherifien des Phosphates (OCP). MPSA has an equity of $165 million. It is to set up a $230 million fertiliser plant in Morocco. It has got loans of $165 million from a consortium of European banks. CF has also sought loans from the Exim Bank of India. The rest of funds will be mobilised through internal accruals. (gs)

Comment:

Enters joint venture with Chambal Fertilisers to form Indo Moroc Phosphore in Morocco

Fertilizer Manufacturing, Morocco, Fertilizers, Indo Moroc Phosphore S.A., Chambal Fertilisers, Cherifien des Phosphates

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CULTOR TO BE THIRD PARTNER IN LAPORTE JV

Article Abstract:

Cultor of Finland will be the third partner in LaPorte Piramal, a 51:49 joint venture of LaPorte of UK and Nicholas Piramal. LaPorte Piramal will be producing 300-400 tonnes per annum of food additives and will be employing the staff of Nicholas' bulk unit. Cultor proposes to invest Rs50 crore on the production unit at Hyderabad and buy back the entire production of the unit. It also plans to offer the required technology. While LaPorte plans to set up the unit, Nicholas Piramal plans to offer the expertise. (ag)

Comment:

Cultor will be 3rd partner in LaPorte Piramal, JV of co & LaPorte as it proposes to invest Rs50 crore on prodn unit

Food Additives, All Other Basic Organic Chemical Manufacturing, LaPorte PLC, Nicholas Piramal India Ltd., Cultor Ltd., LaPorte Piramal

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VD SWAMI SIGNS MoU WITH IDD

Article Abstract:

VD Swami and Company Ltd, an international trading and engineering construction company of Chennai, has signed a memorandum of understanding with Innovative Design Development Inc of the US to set up a 50:50 joint venture called IDD Indium. The venture will have an initial investment of about Rs50 lakh and will offer design, development, modeling analysis, conversion, training and consultancy services to companies in India and abroad using software tools like Auto CAD, pro/Mechanica and Math CAD. (khr)

Comment:

VD Swami and Company Ltd, an international trading and engineering construction company of Chennai, has signed a memorandum of understanding with Innovative Design Development Inc of the US to set up a 50:50 joint venture called IDD Indium.

United States, Computer Services, Computer Systems Design and Related Services, Computer and Data Processing Services, Information technology services, Innovative Design Development Inc., VD Swami and Company Ltd., IDD Indium

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