FINANCE MINISTRY CLEARS RELIANCE's $260-M ECB PLAN

Article Abstract:

The Finance Ministry has decided to re-issue an approval to Reliance Industries Limited (RIL) for a $260 million external commercial borrowing (ECB) for the 410 mw Patalganga power project. The ECB is a crucial financial component of the project as the total foreign debt element in the equity amounts to $300 million and the project finance is at a debt-equity ratio of 2:1. The naphtha-based project is coming up at a cost of $450 million and is expected to go on stream by early 1999. (gsh)

Comment:

Gets re-issue approval from Finance Ministry for $260 million external commercial borrowing for 410mw Patalganga power project

Government regulation, Reliance Industries Ltd.

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MEGA POWER POLICY ON THE ANVIL

Article Abstract:

The government of India plans to bring out a comprehensive energy policy to improve the private and foreign investments in power sector. The policy will cover management practices of state electricity boards. Priority will be given to hydro and thermal projects and their parameters will be improved. State Electricity Regulatory Commission will be set up in all states of India by the year 2000. India has a power shortage of 11.5 percent and peaking shortage of 18 percent. (rk)

Forecasts, trends, outlooks

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COGENTRIX SCOUTS FOR EUROPEAN BOILER CO TO SKIRT US SANCTIONS

Article Abstract:

Cogentrix plans to give its boiler contract to an European company to avoid the sanctions imposed by the US. Cogentrix is setting up the 1,000 mw Mangalore power plant in Karnataka. Cogentrix has asked Tarmac Black & Veatch, its engineering, procurement and construction contractor, to search for an European boiler firm to replace Deutsche Babcock Rilley, a boiler contractor of the US. The boiler contract is valued at about $351 million. (khr)

Comment:

Plans to give its $351 mil boiler contract to an European company to avoid sanctions imposed by US

Capital expenditures, Cogentrix

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