L&T COMPLETES SECURITISATION DEAL FOR IPCL PLANT

Article Abstract:

Larsen & Toubro (L&T) has made a securitisation deal for mobilising Rs409 crore from banks, financial institutions and mutual funds. It plans to finance the construction of a co- generation power plant and lease it to IPCL. It has secured an order for building and leasing 2x45 mw gas turbine-based co- generation captive power plant at the Gandhar complex in Gujarat. Larsen & Toubro has set up a separate company - India Infrastructure Developers Ltd - to handle the project. Larsen & Toubro will be the engineering, procurement and construction contractor for India Infrastructure Developers Ltd. India Infrastructure Developers Ltd will own and lease the power plant to IPCL. Larsen & Toubro has securitised the future receivables of India Infrastructure Developers Ltd from IPCL to raise funds for the project. (rk) (kvr)

Machinery Manufacturing, Fossil Fuel Electric Power Generation, Cogenerated Electric Power, Special Industry Machinery, Industrial equipment, Industrial equipment industry, Cogeneration power plants, Larsen and Toubro Ltd.

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GRABAL ALOK EXPORTS - GRAB ALL

Article Abstract:

Grabal Alok Export (GAE) is setting up a plant at a cost of Rs14.45 crore to manufacture embroidery fabrics. To part- finance the project, it is raising a public issue to net Rs2.86 crore. The issue will open on June 8, 1998, and close on June 17, 1998. The promoters of GAE are contributing Rs3.89 crore to the project. IDBI has extended a term loan of Rs4.75 crore. The appraiser of the project is extending a term loan of Rs4.75 crore. GAE is a joint venture of Alok Textiles and Albert Grabher GmbH & Co of Austria. The proposed embroidery fabrics unit will have a production capacity of 246.76 million stitches per annum. (gs)

Comment:

Raises public issue to net Rs2.86 crore to part-finance setting up of Rs14.45 crore plant to manufacture embroidery fabrics

Broadwoven Fabrics, Textiles, Grabal Alok Exports Ltd.

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COTTON TEXTILES EXPORTS SHOW 7% NEGATIVE GROWTH IN JAN-AUG

Article Abstract:

Exports of cotton textiles declined by 7.24 percent in dollar terms during January-August 1998. Exports increased by 5.11 percent in terms of rupee. Cotton yarn exports declined by 15.59 percent in quantity and 9.05 percent in value. Cotton textiles exports declined to six percent in 1997-98. The decline in exports is attributed to the economic crisis in southeast Asia. (gsh)

Comment:

India: Cotton textiles exports decline to 6% in 1997-98 with decline in exports attributed to economic crisis in Southeast Asia

Exports, Cotton Broadwoven Fabrics, Cotton fabrics

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