UNOCAL PLANS $4-BN CORE SECTOR PROJECTS

Article Abstract:

Unocal Corporation of the US plans to set up several infrastructure projects in India over the next five years at a cost of $4 billion. These include oil and gas exploration, piplelines, power generation, LNG terminal, port and fertiliser projects. It plans to tie up with local and international companies. Unocal will hold majority stake in the projects. It plans to supply gas to India from the west through Turkmenistan, from the east through Bangladesh, Myanmar and Tripura and from the South through port terminals. The gas will be brought to Delhi through pipelines by 2002-2003 AD. It plans to bid for oil exploration blocks and deep water basins. Unocal is negotiating with the Gujarat government to set up a Rs900 crore LNG terminal cum port at Maroli. It has submitted bids for the LNG cum port project at Ennore in Tamil Nadu and for the 600 mw Bawana Phase II project in Delhi. Unocal has launched a $2 billion energy renaissance project in West Bengal. (vv)

Comment:

American energy co plans to spend $4 bil for several infrastructure projects in India for next five years

Diversified Companies, Unocal Corp.

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GROUP USHA TO INVEST Rs547 CRORE IN IT SECTOR

Article Abstract:

Group Usha of Delhi has worked out a plan to invest Rs547 crore in the information technology sector through the Rs41 crore group company, Information Technologies India Ltd. It plans to invest about Rs200 crore to set up eight joint ventures abroad, a similar amount to start training centres for advanced software packages and Rs100 crore for acquiring overseas companies in the software sector. The group has already started two joint ventures at Zurich and New York in August 1998 and will start another at Singapore in November 1998. This is to be followed by setting up ventures in places like Germany, France, Canada, Japan and Korea. The company plans to hold stakes ranging from 26 percent to 51 percent in the joint ventures. (khr)

Comment:

Is working out a plan to invest Rs547 crore in information technology sector

Computer Software, Software Publishers, Software, Group Usha

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UTI TO ENTER CORE SECTOR PROJECTS: SUBRAMANYAM

Article Abstract:

Mr PS Subramanyam, the new chairman of the Unit Trust of India (UTI), has announced that UTI plans to make large investments in infrastructure projects in the form of equity and debt. UTI plans to subscribe to the start-up capital of projects in the core sectors like power, telecommunications, ports and roads. It hopes to achieve 15-20 percent in total invisible funds. The total funds of UTI are now Rs60,000 crore. (gs)

Comment:

Plans to make large investments in infrastructure projects in the form of equity and debt

Unit Trusts (Oil, etc), Other Financial Vehicles, Unit investment trusts, Unit Trust of India

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