Prime minister Atal Behari Vajpayee would lay foundation stone of 2051 mw Parvati hydel project in Kullu district of Himachal Pradesh on June 6, state chief minister Prem Kumar Dhumal said here on Wednesday.

The project considered to be the biggest hydro-electric project in Asia, is being built jointly by the Centre and HP in which the state would get 12 per cent free power besides its 15 per cent share.The project to cost Rs 10,000 would be executed in three phases, Dhumal said.In the first phase, 800 mw electricity would be generated from a power house at Sainj by diverting river Parvati's water from a 90 meter high dam at Pulga through a 31 km long tunnel.

Maheshwar Hydel Corp refutes NBA allegations

The Maheshwar Hydel Power Corporation has refuted allegations by the Narmada Bachao Andolan (NBA) of illegal acquisition of land at the project site for the work and said the andolan was trying to revive the malacious campaign againstit. A spokesman of the corporation in a statement said a complaint of few farmers as publicised by the andolan has no basis regarding acquisition of 100 acres land at the project site.

ABB wins Australian power order worth $200 million

ABB has won an order worth about $200 million (192.3 million euros) for a turn-key gas-driven power station in Australia, the company said on Wednesday. The plant, to be sited near Adelaide, is to be equipped with two gas turbines and will have total output of 500 megawatts. A first instalment of 160 megawatts is to be in operation in November 2000.

Handicrafts exports increase by 16.2 per cent

India's handicrafts export jumped by 16.2 per cent during 1998-99, going up to Rs 5,058.40 crore from previous fiscal's figure of Rs 4,355.18 crore, according to Export Promotion Council for Handicrafts. In dollar terms, export during 1998-99 was $1,202.31 million, compared to $ 1,171.32 million in 1997-98.

Assocham for PF funds investment in equities forhigher returns

The real rate of return on pension funds and PF accumulations could be stepped up from a low of two per cent to 25 per cent if investment is allowed in equities, according to the the Assocham. In his suggestion to the government, Assocham president, K P Singh, has stated that the returns to investors would increase manifold if the restriction on investment in equities is abolished.

India wins WTO case against Turkey

A World Trade Organisation (WTO) panel has ruled in India's favour in a case against Turkey for imposing quantitative restrictions on imports of 19 categories of textiles. The dispute settlement panel (DSP) of WTO held that the measures adopted by Turkey were inconsistent with the provision of Gatt.t and asked Turkey to bring the measure in conformity with its obligation under the WTO. Turkey had imposed the import restrictions on shipments from India after it joined a Customs Union with the European Union. The three-member panel, headed by ambassador WadeArmstrong, said that Turkey could make its import policy WTO compatible and still be part of a Customs Union with the European Community.