CHENNAI'S TIDEL PARK TO BE READY BY 2000

Article Abstract:

The Tidel Park, being set up in Chennai, will be ready by January 2000. Tidel Park Ltd is a joint venture of the Tamil Nadu Industrial Development Corporation and the Electronics Corporation of Tamil Nadu. Hyundai Engineering has got the civil construction contract of the park for Rs125 crore. Tidel Park Ltd offers 8.5 lakh square feet space for development of software. The foundation has been laid for a 12-storeyed building. Hyundai Engineering will complete the building in 56 weeks. The total built up area is about 1.12 million square feet, including a 400- seat auditorium, seminar halls and restaurants. The Videsh Sanchar Nigam Ltd is investing Rs15-20 crore to set up an earth station and connectivity facilities for the park. The Tamil Nadu Electricity Board is setting up a sub-station near the park for supplying dedicated electricity to the facility. The park will have a captive power plant and uninterrupted power supply back up. The Tamil Nadu Industrial Development Corporation and the Electronics Corporation of Tamil Nadu plan to lease 70 percent and sell 30 percent of the space. Tidel Park Ltd has already sold 25 percent of the space to 7 software companies. Richard Ellis, Colliers Jardine and Cushman Wakefield are interested in marketing the complex to international software companies. The project is estimated to cost Rs320 crore and has an equity of Rs94 crore. The Tamil Nadu Government will hold preferential equity of Rs40 crore for the land allotted to the park. The balance Rs50 crore of equity will be distributed among the Tamil Nadu Industrial Development Corporation and the Electronics Corporation of Tamil Nadu, banks, insurance companies and Hyundai Engineering. The project has a debt-equity ratio of 2.4:1. (rk) (kvr)

Capital expenditures, Engineering Services, Commercial and Institutional Building Construction, Office Buildings, Office construction, Hyundai Engineering and Construction Company Ltd., Tamil Nadu Industrial Development Corporation Ltd., Electronics Corporation of India Ltd., Tidel Systems Inc.

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IOC FIXES 10-YR MARKETING DEAL WITH BRPL

Article Abstract:

Indian Oil Corporation (IOC) has tied-up a 10-year agreement with Bongaigaon Refinery and Petrochemicals Ltd (BRPL) for marketing 1.7 million tonnes of petroleum products annually. IOC will market all the products of BRPL except refined petroleum coke and calcined petroleum coke. IOC has also offered its expertise to BRPL to set up retail outlets to market products on its own. IOC has already entered into tie-ups with Cochin Refineries Ltd and Madras Refinery Ltd for marketing about 7 million tonnes of petroleum products from each of the refineries. (khr)

Comment:

Indian Oil Corporation (IOC) has tied-up a 10-year agreement with Bongaigaon Refinery and Petrochemicals Ltd (BRPL) for marketing 1.7 million tonnes of petroleum products annually.

Petroleum, Petroleum and Coal Products Manufacturing, Indian Oil Corporation Ltd., Bongaigaon Refinery & Petrochemicals Ltd

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