Enron, GE, Bechtel seek $550 mn as bid for DPC
Mumbai: Enron, GE and Bechtel have sought a minimum bid of $550 million for sale of their 85 per cent stake in the $3 billion Dabhol power project.

DPC's foreign equity holders have claimed two $200 million each risk insurance covers (political and commercial) from the US based Overseas Private Investment Corporation.

Last year, Enron, GE and Bechtel had announced their exit from the idle 2,814 mw project for a price tag of $1.2 billion, later lowered to $800 million.
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BPCL, HPCL sell-off to net Rs 8,900 cr
Mumbai: The disinvestment ministry may garner about Rs 8,900 crore by sale of government's strategic stake in navratna oil majors Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) next fiscal.

The government, which will appoint advisors for the twin sale by next month, may retain 26 per cent stake in each company as in the case of other strategic sales and thus sell 40 per cent of its 66 per cent stake in BPCL and 25 per cent of of its 51 per cent holding in HPCL.

The BPCL sale would fetch around Rs 5,376 crore while the proceed from HPCL was pegged at Rs 3,474 crore.
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Sun Pharma drops Chennai R&D centre plan
New Delhi: Sun Pharmaceutical Industries has dropped plans to set up research centre in Chennai. Instead, it would invest about Rs 40 crore in new chemical entities and novel drug delivery systems research campus in Baroda.

The company is now proposing to set up a facility in Baroda for logistics reasons and convenience as it already had a centre in the city.

A new 16 acre site has been identified and bought in Baroda for a research campus focussing on both new chemical entities and novel drug delivery systems.

At present, the company has two research centres, one in Baroda and other in Mumbai.

The new facility in Baroda is expected to come up in next two years.
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Reliance to secure deal with IOC, BPCL, HPCL
New Delhi: Reliance is close to clinching a deal with Indian Oil, Bharat Petroleum and Hindustan Petroleum for marketing of petroleum products from its 27 million tonnes Jamnagar refinery in Gujarat.

The new agreement envisages offtake from Jamnagar refinery on existing pattern on 'demand-basis' for a maximum period of two years from April 2002, which would give the private sector refiner time to set up its own retail chain.

At present, IOC sells 12-13 million tonnes of RPL products from its 7,549 retail outlets and 3,436 gas agencies across the country while the remaining products from the Jamnagar refinery are equally marketted by Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL).
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Zils to offer online insurance training
Kolkata: Zee Interactive Learning Systems Ltd (Zils) has joined hands with Limra of the US for providing specialised training to professionals in the field of insurance.

Necessary formalities have been completed and the contract between the two partners have been signed. Zils would provide the infrastructure and market Limra's insurance training and allied product offerings on a revenue-sharing basis.

Till now, insurance training in India was provided in physical format. Now, the Insurance Regulatory and Development Authority is understood to be open to the idea of online training.
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BPCL may merge KRL with itself
Mumbai: Bharat Petroleum is examining a proposal to merge its subsidiary Kochi Refineries with itself.

The boards of the two companies are expected to meet soon to consider the merger proposal.

BPCL holds around 55 per cent stake in KRL, while the Kerala government has a 6 per cent stake. The balance is held by the public and financial institutions. The government holds 66 per cent stake in BPCL.
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Megabowl to set up entertainment centres
Bangalore: Megabowl plans to open family entertainment centres in Hyderabad, Delhi and Chennai, and one more in Bangalore in the next financial year at an estimated cost of over Rs 12 crore.

The company currently operates FECs in Bangalore, Mangalore, Jaipur, Kolkata and Kochi.
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Vatika plans foray into hospitality sector
New Delhi: The Delhi-based real estate company Vatika Group plans a major foray into hospitality business.

The group plans to launch five The Fox restaurants in next 24 month. The first restaurant is coming up in Gurgaon next month.

Vatika group is a multiple business company with interest in real estate development farmland development,hospitality and facilities management.

The cost of The Fox will be Rs 3 crore which does not include the land cost. The group has major plans to build real estate projects worth Rs 170 crore in next three years.
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HLL pushes 3 Roses
Coimbatore: Hindustan Lever Ltd (HLL) is organising a mega consumer promotion campaign for its flagship tea brand Brooke Bond 3 Roses in the four southern states.

Styled Perfect Jodikku Thanka Pudhayal (Golden Treasure for the Perfect Couple), the contest involves no slogans or filling up of forms. It is a mere question of luck to be a winner of a real cask of gold!

The campaign would be kicked off in a few days and would run up to 15 June.

To participate in the campaign, the consumers would have to purchase 3 Roses tea packets of 100 gm, 250 gm and 500 gm that would have the lucky coupons.

There would be ten first prize coupons that would entitle the winners to pick up as much gold as they can in one minute flat. There would be one hundred second prize coupons that would offer the winners gold jewellery worth Rs 10,000 each and over ten thousand third prize coupons of a silver coin of 10 gram each.
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