SAIL inks Africa plant deal

Johannesburg, Feb. 23: State-run SAIL has signed an agreement with Afripalm Resources to set up a steel plant in South Africa at an investment of $2.94 billion, Business Day has reported. “Lazarus Zim’s Afripalm Resources has signed a memorandum of understanding with SAIL to build a 21-billion-rand ($2.94 billion) steel mill in South Africa,” the report said.

Jet fares

Mumbai/ New Delhi, Feb. 23: Travel by Jet Airways’ domestic flights, across its network, will be costlier by up to Rs 200 from Saturday as the airline has decided to hike the fuel surcharge for the second time in two months from February 26.

ONGC offer

New Delhi, Feb. 23: ONGC will file a red herring prospectus for its Rs 11,700-crore share sale on Monday, a senior company official said today.

FDI approval

New Delhi, Feb. 23: The government has approved 19 foreign direct investment plans worth Rs 1,358 crore, including Shriram Capital’s Rs 1,180-crore proposal.

Berger chief

New Delhi, Feb. 23: Berger Paints today announced a succession plan with senior vice-president (sales and marketing) Abhijit Roy set to replace incumbent CEO Subir Bose on retirement.