ENRON, SCI, MITSUI FLOAT JV FOR LNG SHIPPING

Article Abstract:

Enron, Mitsui OSK Lines of Japan and Shipping Corporation of India (SCI) have signed a memorandum of understanding to float a joint venture firm abroad. The new company intends to own and operate a 135,000 cubic metre liquefied natural gas (LNG) tanker that will transport LNG from West Asia Gulf to Dabhol power plant coming up in Maharashtra. The new LNG tanker will be constructed in the Mitsubishi Heavy Industries shipyard in Japan. Mitsui will pick up 70 percent stake in the joint venture while Enron pick up 20 percent and SCI 10 percent. (gs)

United States, Foreign operations, Joint ventures, Deep Sea Freight Transportation, LNG Tankers, Enron Corp., ENE, Liquefied gas tankers, Mitsui O.S.K. Lines Ltd., Shipping Corporation of India Ltd.

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HITACHI TO PICK UP 35.2% STAKE IN AMTREX APPLIANCES

Article Abstract:

Hitachi Ltd (Hitachi) of Japan, which has a technical tie up with Amtrex Appliances Ltd (AAL), plans to acquire 35.2 percent stake in AAL. The Japanese firm will pick up stake worth of Rs16 crore through preferential allotment route. AAL, a member of Lalbhai group, manufactures air- conditioners. Post acquisition both Hitachi and Lalbhai group will hold 35.2 percent stake each in AAL. The equity of AAL will be increased to Rs15 crore. (gs)

Diversified Companies, Asset sales & divestitures, Acquisitions & mergers, Household Appliance Manufacturing, Electric Appliances, Appliances, Hitachi Ltd., Amtrex Appliances Ltd.

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