NRI TEAMS UP WITH US Co FOR Rs23-Cr PROJECT IN HOSKOTE

Article Abstract:

Mr Krishna Chivukula, a non-resident Indian (NRI) in the US has entered into a 51:49 collaboration with the $1.5 billion Press Cast Corporation of the US to set up a metal injection moulding plant at Hoskote in Karnataka. The Rs23 crore plant will commence trial production of metal injection mouldings in August 1998. The technological knowhow for the plant will come from Advanced Forming Technology, the 100 percent subsidiary of Press Cast. The plant will mainly cater to segments like watch cases, watch links and computer peripherals. In the first year of operation, the projected sales is $4 million with around $0.5 million coming from domestic operations. (gsh)

Comment:

Enters a JV w/ Mr Krishna Chivukula to set up a metal injection moulding plant at Hoskote in Karnataka

Injection Molded Metal Parts, Metal Stamping, Injection molded metals, Press Cast Corporation

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IOC-PETRONAS LNG PROJECT CLEARED

Article Abstract:

A joint venture proposal between Indian Oil Corporation (IOC) and Petronas of Malaysia to enter the liquefied petroleum gas (LPG) sector has been cleared by the Union government. Both the partners will hold a 50 percent stake and IOC has been given permission to invest Rs45 crore in the initial project cost of Rs200 crore. The joint venture will provide LPG in the Eastern states for the domestic, industrial and automotive segments. (khr)

Comment:

Joint venture proposal w/ Indian Oil to enter liquefied petroleum gas sector has been cleared by Union govt

Natural Gas Liquid Extraction, Liquefied Petroleum Gas, Petroliam Nasional Bhd., Indian Oil Corporation Ltd.

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LMW DROPS PALM OIL PROJECT

Article Abstract:

Lakshmi Machine Works Ltd (LMW) of Coimbatore, a leading textile machinery manufacturer, has shelved its palm oil project in Karnataka. It is to withdraw from unrelated businesses it had diversified into in the last few years. It plans to concentrate on the research and development in making quality machinery and to increase its presence in the textiles spinning machinery market. (gs)

Comment:

Leading textile machinery manufacturer shelves palm oil project in Karnataka, India

Other Oilseed Processing, Palm Oil, Lakshmi Machine Works Ltd.

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