The Telegraph
Since 1st March, 1999
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Business Briefs

Auto exports zoom

New Delhi, Sept. 1: Automobile exports jumped 59.5 per cent to 83,785 units during April-July compared with 52,527 units in the same period of 2001, according to SIAM. Car exports raced 49.4 per cent year-on-year to 19,383 units from 12,973 units. Ford India was the largest exporter with a growth tally of 43.4 per cent followed by Maruti with 68.5 per cent and Hyundai with 21.1 per cent. Telco saw its overseas sales rise seven fold. GM India was the only car-maker in reverse gear.


New Delhi, Sept. 1: Even as talks on who clasps the reigns at Panna-Mukta and Tapti oil and gas fields drag on, British Gas, ONGC and Reliance have agreed to pump in over $ 150 million over two years. The three partners will invest $ 59.49 million this year and $ 92.80 million in 2003-04 to maintain production at current levels. ONGC will infuse about $ 61 million while BG will bring $ 45.68 million by 2204.

Dabhol offer

Mumbai, Sept 1: Indian lenders to Dabhol Power Company (DPC), ledy by IDBI, have rejected an offer from GE and Bechtel to restart the 2,184-MW plant on the ground that it is deteriorating after being abandoned for the last 15 months. IDBI and others said they have firmed up plans to sell the project’s assets.

Birla Home

New Delhi, Sept 1: German housing major BHW Holdings and the K. K. Birla group will infuse Rs 50 crore in their joint venture, Birla Home Finance. The company plans to raise funds from multilateral agencies like ADB and IFC to achieve a 50 per cent growth. “Both partners will infuse Rs 25 crore each by this fiscal,” company chairman H. S. Bawa said.

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