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MYSORE CEMENTS SEEKS FI AID FOR GULBARGA PLANT

Article Abstract:

Mysore Cements Limited (MCL) is negotiating with financial institutions (FIs) for financing its cement facility at Gulbarga. It has held talks with the Industrial Credit and Investment Corporation of India Ltd, Industrial Development Bank of India and International Finance Corporation of India for funds. The company plans to avail Rs400 crore funds from the FIs. The balance will be contributed by the promoters, the SK Birla group. The investment for the project will be according to the capacity the company opts for. For a 1.5 million tonnes capacity, MCL will need an investment of Rs600 crore and for 2 million tonnes the investment is Rs700 crore. MCL has posted a loss of Rs45 crore on sales of Rs400 crore in 1997-98. (rk)

Comment:

Is negotiating w/ financial institutions for financing cement facility in Gulbarga, India

Financial management, Cement, Cement Manufacturing, Mysore Cements Ltd.

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GOVT TO ACQUIRE LAND IN MYSORE FOR INDUSTRIAL AREAS

Article Abstract:

The Government of Karnataka plans to acquire 4,000 acres of land in the Mysore district. The land will be used for industrial development as the Karnataka Industrial Area Development Board (KIADB) does not have any vacant land. About 800 acres will be used for setting up information technology units. The KIADB proposes to set up a food zone on 500 acres of land. The joint director of industries and commerce has chalked out a comprehensive perspective plan for Mysore and Chamarajnagar districts. (ag)

Comment:

India: Govt of Karnataka to buy 4,000 acres of land in Mysore for industrial dvlpmt by Karnataka Industrial Area Dvlpmt Board

Government regulation (cont), Area & Regional Development, Administration of Urban Planning and Community and Rural Development, Economic development

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