SAIL growth plans

New Delhi, April 22: Public sector units sail and rinl have lined up investments of over Rs 50,000 crore to expand within the country to meet the domestic demand. By 2010, SAIL will produce 23 mt. The process has already begun for this, steel secretary R.S. Pandey said. rinl will almost double its capacity in the same period. “Others are going abroad to expand while sail and rinl will take care of the domestic market,” he said.

Interest rate

New Delhi, April 22: Rising interest rates have started taking a toll on sectors like consumer durables and automobiles. CII’s April issue of ‘State of the economy’ revealed that in March 2007, automobile sales grew 0.8 per cent. Consumer durable sales in February increased by just 1.6 per cent.

l&t income

New Delhi, April 22: Larsen and Toubro expects to generate revenues of about Rs 2,500 crore in the next five years from its joint venture with Japanese company Mitsubishi Heavy Industries to manufacture boilers for power plants.

GoAir issue

Mumbai, April 22: GoAir will tap the capital market only after two years. It is, however, open to equity dilution to strategic investors during the interim period.

LPG purchase

New Delhi, April 22: India is keen to purchase LPG from Algeria on term contract basis. This was conveyed to the Algerian prime minister Abdelaziz Belkhadem in Algiers today by petroleum and natural gas minister Murli Deora.