The Hindu Business Line : Saturday, June 07, 2008

ACCIDENTS
Fire at Reliance petrochem unit kills 3; production not disrupted
Mumbai July 6 A fire broke out at one of the production units of Reliance Industries Ltd’s sprawling petrochemical complex at Nagothane in Maharashtra on Friday, claiming three lives and injuring a few.The fire broke out at a ... More

CORPORATE DISPUTES
Federal Mogul’s proposal rejected
New Delhi, June 6 The Foreign Investment Promotion Board has rejected Federal Mogul Corporation’s proposal to set up a new subsidiary to manufacture and sell sealing products and gaskets, following objection by Talbros Automotive ... More

Tata Sky restores ESPN’s channels to basic package
New Delhi, June 6 Tata Sky has decided to restore ESPN’s channels to the basic package from which it had pulled out ESPN’s and BBC’s channels along with Ten Sports in a new offer launched on the first of June. ESPN had taken ... More

NEW BUSINESS
Era Infra bags rail contract
More

AWARDS & HONOURS
Sterlite bags award
Sterlite Industries (India) Ltd (SIIL) , a subsidiary of the London listed FTSE 100 diversified metals and mining company, Vedanta Resources Plc, has secured the Golden Peacock Environment Award - 2008 from World Environment Foundation, selected ... More

RESTRUCTURING
GMR to shift Karnataka power plant to AP
Bangalore, June 6 The GMR group has decided to shift its barge-mounted power plant in Karnataka to Kakinada in Andhra Pradesh. The plant will be re-commissioned at the new location by April 2009 and will run on gas, according to information ... More

MERGERS & ACQUISITIONS
Suzlon buys 30% Areva stake in REpower
Consolidates holding at 66% More

Essar Steel ready to increase offer for Esmark
Mumbai, June 6 Essar Steel Holdings Ltd (Essar), a part of Essar Global Ltd, has informed Esmark board of directors that it was ready to consider a potential increase to its April 30, 2008 offer to acquire Esmark Inc at $17 a share. ... More

Zandu drops share issue plan
Mumbai, June 6 Zandu has dropped its proposal to issue equity shares, warrants and other convertible instruments that the company was to issue promoters, relatives and other associates, the company told the Bombay Stock Exchange. Zandu’s ... More

NEW PROJECTS
Essar Oil may go cautious on Vadinar unit expansion
Mumbai, June 6 Essar Oil may turn cautious in its implementation of the $6 billion expansion that it has proposed to take up at its 10.5 million tonne oil refinery in Vadinar in the wake of the Finance Ministry striking out refinery units ... More

Nagarjuna Oil refinery in TN to bring in investments
Chennai, June 6 The Nagarjuna Oil Corporation’s Rs 5,000-crore refinery in Cuddalore will catalyse investments in the petrochemical sector in the area, which is to be promoted as a Petroleum, Chemicals and Petrochemical Investment Region ... More

Renault Nissan project gets off the ground
Plant slated to produce 4 lakh cars annually More

MIC Elec secures land in Fab City
MIC Electronics Ltd has informed the BSE that it has been allotted 50 acres of land on lease basis in the Fab City project located about 22 km from Hyderabad, near the new international airport. This land will be utilised to set up a ... More

Public hearing on Anrak aluminium project today
The Andhra Pradesh Pollution Control Board is going ahead with its plan to hold a public hearing on the proposed aluminium refinery and smelter projects by Anrak group at Rachapalli village in the Makavaripalem mandal of Visakhapatnam district ... More

ALLIANCES & JOINT VENTURES
GAIL, TIDCO sign co-operation pact
To set up joint working group to assess gas demand, support infrastructure More

Finnish major Metso forms venture in India to outsource design services
The $ 9-billion Metso group of Finland, whose major businesses are equipment supplies for paper and pulp, minerals and automation, has formed a joint venture with Chennai-based EPT Engineering Services. The joint venture company, Metso ... More

SAIL to own bulk carriers thru tie-up with Shipping Corp
Move to ensure availability of vessels More

INTERVIEW
Gulf Oil in new growth phase with integrated mining services
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Karuturi sees Ethiopia entry as vehicle to expand biz globally
‘We already have strong presence in the African country through floriculture’ More

DIVERSIFICATION
Apollo intends to foray into pharmaceuticals
Enters into pact with Ericsson for providing telemedicine More

OUTLOOK
BPL Healthcare plans big push
Rollout of heart care devices in next 3 months More

TRENDS
Bandh brings work at Singur plant to a halt
Kolkata, June 6 The two-day bandh brought work at the Tata Motors Singur small car plant to a standstill, the first time this has happened since construction work began in January, last year. All work within the factory complex was halted and ... More