UAS Labs to take over sick ODCL
The US-based UAS Laboratories will take over Orissa Drugs and Chemicals Ltd by acquiring the entire stake of Indian Drugs and Pharmaceuticals Ltd and Industrial Promotion and Investment Corporation of Orissa Ltd in the sick public sector company. As per a draft rehabilitation scheme circulated by the Board for Industrial and Financial Reconstruction, UAS Labs will invest Rs 7.99 crore in three years to rehabilitate Orissa Drugs. The Bhubaneswar-based Orissa Drugs, which manufactures ethical drugs formulations, has been making losses since its inception.BHEL commissions power plant
Public sector Bharat Heavy Electricals commissioned the country's biggest capacity diesel power station at Kozhikode in Kerala promoted by the Kerala State Electricity Board (KSEB). BHEL set up the diesel power plant of 128mw capacity, comprising eight units of 16mw each, on a turnkey basis. The scope of work for BHEL at the Kozhikode plant included design, engineering, manufacturing, erection and commissioning of the diesel generating sets, including complete civil works, a company release said.
Godrej-GE appoints VP
Godrej-GE Appliances announced the appointment of Vinod Sawhny as vice-president, marketing (sales) of Godrej-GE Appliances. Sawhny's previous assignment was as vice-president, marketing of Godrej-GE Appliances. Sawhny has worked with various businesses in the Godrej Boyce group since 1983. In 1993, Sawhny was sponsored for the prestigious global manager development course of General Electric in Crotonville, US.
Hotel industry hopeful of recovery
The hotel industry is showing signs of recovery after a three-year slowdown caused by an economic downturn and political instability, industry officials said. "In the last two months, occupancy rates were around 50 to 60 per cent, but now it is near 70 per cent - there is some improvement," said an official at Welcomgroup Maurya Sheraton Hotel and Towers in New Delhi.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.