Sunday, July 19, 1998
FIPB nod for GE Caps, Adidas, Powergen plans
The Foreign Investment Promotion Board (FIPB) approved proposals approximately worth Rs 506 crore on Saturday including those of GE Capital, Adidas, Powergen, Cheminova and Sony. About 10 cases in software and electronics sector, six in auto ancillaries totalling Rs 40 crore and Rs 72 crore in non-banking financial services were cleared by the board.
Koyna power project's stage IV commissioning likely by Dec '99
The final blast of the Rs 1,140-crore Koyna Stage IV 1,000mw hydel power project is likely to take place in December and commissioning trials of the turbines in the 250x4 hydel power plant are slated for January 1999. The 1,000mw Koyna Stage IV power plant will be fully commissioned by December 1999.
York International plans to set up holding company in India
Pennsylvania-based York International Corporation, a leading manufacturer of airconditioning and refrigeration systems, is setting up a holding company in India to invest in two projects -- a joint venture and a wholly owned subsidiary. York International will initially bring in $3 million as investment in the holding company..
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