Financial Daily from THE HINDU group of publications
Wednesday, Oct 16, 2002
Financial Daily from THE HINDU group of publications Wednesday, Oct 16, 2002 |
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Corporate
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New Projects Grasim seeks more time for Ennore project Our Bureau
NEW DELHI, Oct. 15 GRASIM Industries Ltd has sought extension of the validity of approval from the Foreign Investment Promotion Board (FIPB) for setting up LPG-terminal-cum-power project at Ennore. The Ennore project, christened Dakshin Bharat Energy Consortium (DBEC), had been conceptualised by the Tamil Nadu Government and promoted by Grasim Industries of the AV Birla group. FIPB had approved the project two years ago in September 2000. The approval was valid for a period of two years. The company has now sought an extension of the validity period by another year. The Ennore project has a total FDI component of Rs 4,869 crore of which Rs 1,917 crore will come as equity and the remaining Rs 2,952 crore as debt. The promoters' consortium includes Grasim Industries, Siemens Power Ventures, CMS Energy, Unocal Bharat and Woodside Petroleum.
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