BETTER LATE THAN NEVER

Article Abstract:

Nocil's de-merger and Shell's intended joint venture in the proposed Nocil Petrochemicals Ltd (NPL) have a lesson for promoters to take proper decisions. The decision of Nocil was aimed at attaining globally optimal capacity. The move of Shell shows that companies should try to enter global market to grow. The firms have to face greater competition and higher financing costs. This can be done by choosing joint venture partners with world class finance and technology. Reliance Industries Ltd (RIL) has grown with the creation of ethylene production capacity 12 times that of Nocil's and propylene production capacity 10 times that of Nocil. The price of the Nocil share and its net worth have fallen. The promoters of Nocil had to sell stock at a price lower than the one that prevailed during the original share buy-back from Shell. The comments have been made in an editorial. (gs)

Acquisitions & mergers, India, Crude Petroleum, Petroleum, Shell Oil Co., Nocil Petrochemicals Ltd.

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TOTAL SA TO INVEST Rs425 CR IN JV WITH TATA ELECTRIC

Article Abstract:

Total SA has decided to invest Rs425 crore in its 50:50 joint venture with Tata Electric Companies (TEC). The money will be used for import, storage and re-vapourisation of liquefied natural gas (LNG) and for the development and maintenance of the LNG terminals. The joint venture plans to import 3 million tonnes of LNG by 2002. The venture will set up two LNG terminals in the first phase with a capacity of 3 million tonnes of LNG per annum. (khr)

United States, Natural Gas, Crude petroleum and natural gas, Use of Funds, Natural resources, TOTAL S.A., Tata Electric Cos.

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