The National Thermal Power Corporation (NTPC) will pump in Rs 500 crore into the Pipavav liquefied natural gas (LNG) project in Gujarat for a 26 per cent stake in the venture. "We will soon sign the agreement for taking the stake in the Pipavav project, for which our investment would work out around Rs 500 crore," NTPC director (finance) C P Jain told PTI on Tuesday. In the Pipvav project, promoted by British Gas and Seaking Engineers Ltd, both the partners have 50 per cent holding each. The total cost of the project is $450 million. It would have an equity base of about $160 million and 26 per cent of this would roughly amount to $42 million.

Concor final dividend at 25%

The Container Corporation of India (Concor), a public sector undertaking under the ministry of railways, announced a final dividend of 25 per cent of the paid-up share capital. Earlier, Concor had paid interim dividend of 20 per cent. The total dividend for 1998-99 would be45 per cent against 20 per cent paid last year. The turnover of the company has gone up to Rs 685 core from Rs 606 crore in 1997-98 registering a growth of 13 per cent. The net profit after tax (PAT) went up from Rs 116 crore to 141 crore this year indicating a growth of more than 21 per cent. In 1997-98, the growth in PAT was 22 per cent from Rs 95.25 crore in 1997-98.

NTPC sucessfully commissions turbine at Faridabad power project

The first 143 gas turbine of the Faridabad gas power project of National Thermal Power Corporation was commissioned on Wednesday well ahead of the schedule. The power from the unit is completely dedicated to Haryana. The project comprises of two gas turbines of 143 mw each and one steam turbine of 144 mw. The second and the third turbine are expected to be operational by the end of the year. The total approved cost of the project is Rs 1163 crore with a major portion coming from the Overseas Economic Cooperation Fund (OECF) of Japan. This is NTPC's 18th plant, seventhin the series of combined cycle power plants.

Crude oil production up 1.8%

Crude oil production in the country increased by 1.8 per cent in the first two months of the new fiscal. The total crude production was 5.54 million tonne in April and May this year, compared to 5.44 million tonne in the months of April and May last year. The cumulative throughput of all the refineries within the country was 17.4 per cent higher in April and May, compared to the first two months of 1997-98. The refineries processed at 12.30 million tonne of crude oil in the first two months of this fiscal, compared to 10.47 million tonne in the months of April and May last year.

Last month natural gas supplies were 5.6 per cent higher than in May last year, at 1689 million cubic metres.

IA operations from Cochin airport from today

The Indian Airlines will commence domestic operations at the Cochin international airport at Nedumbassery from Thursday. The airlines had commenced international operations from theairport on June 13.