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GE,
Bechtel file $1.2-b claim against Government
Mumbai: Bechtel Enterprises
Holdings Inc and GE Structured Finance on Monday said
that they have filed an international arbitration claim
against the Government to recover their investments in
Dabhol Power Company.
The
total value of the claim may touch $1,200 million ($600
million each), the companies said in a joint statement.
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Tata
Steel in agreement for titania project in TN
Chennai: Tata Steel has signed an agreement with
its consortium partners for setting up its titania project
in Tamil Nadu. The consortium comprises Outokumpu Finland's
physical separation division based in the US; Outokumpu-Lurgi,
Germany; Pincock Allen Holt, USA, an international resource
and mining consultancy company; and Larsen and Toubro.
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TVS
Motor constructing test track in Hosur
Chennai: TVS Motor Company is in the process of
constructing a test track at Hosur in Tamil Nadu. Sources
in the know say that the company has already purchased
about 200 acres of land for that purpose.
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Harrisons
Malayalam to sell rubber estate to pare losses
Kochi: Harrisons Malayalam Ltd of the RPG group
has decided to sell one of its rubber estates in Kerala
probably to liquidate the plantation company's huge accumulated
losses.
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Natco
launches drug for brain tumour therapy
Hyderabad: Natco Pharma Ltd, the Hyderabad-based
pharmaceutical company known for its time-release technology,
has announced the launch of yet another product from its
Oncology platform.
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BEL
declares Rs 7 dividend
Bangalore: Bharat Electronics Ltd has declared
its highest ever dividend of 70 per cent to its shareholders
for fiscal 2002-03. The Chairman and Managing Director,
Dr V.K. Koshy, announced this at the company's AGM held
here on Monday.
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AV
Birla hires Leo Burnett for cement re-branding
Mumbai: Soon
after acquiring Larsen & Toubro's cement business,
Aditya Birla Group company Grasim Industries is chalking
out a major rebranding strategy for its cement business.
The company has, for the first time, hired an advertising
agency, Leo Burnett India, for re-branding of its cement
business, confirmed key industry sources.
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Oscar
plans new unit in HP
New Delhi: Oscar is setting up its fourth unit
outside Delhi, in Himachal Pradesh (HP). Currently, besides
the two units in Delhi, it has one each in Punjab, West
Bengal and Himachal Pradesh.
"We expect the unit to be commissioned post Diwali,"
Mr Kishan Kalani, COO, Oscar said.
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Taparia
Tools to tap Europe, US markets
Mumbai: Taparia Tools Ltd, a leading player in
the Rs 100-crore organised hand tool market in India,
is planning to take the `Chinese bull' by the horn in
the overseas markets.
The
company, which produces a range of hand tools such as
adjustable spanners, pliers, screw drivers, line testers,
sockets, hammers, C-clamps, pipe wrenches and chisels,
is planning to take on the competition from Chinese-made
hand tools by entering the retail markets in Europe and
the US.
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Boeing
seeks approval for own subsidiary
New Delhi: World's leading aircraft manufacturer
The Boeing Company has sought permission from the Foreign
Investment Promotion Board to set up a wholly- owned subsidiary
in India.
The company plans to invest $4.8 million with a provision
for further funding.
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Delhi
HC defers hearing on Pepsi's petition against CSE report
New Delhi: The Delhi High Court on Monday deferred
the hearing of a petition filed by PepsiCo India challenging
the Centre for Science and Environment's (CSE) report
that alleged the presence of pesticide residue in soft
drinks. The hearing has been deferred till October 28.
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Unichem
Lab plans Rs 80-cr expansion
Mumbai: Unichem Laboratories Ltd has chalked out
a Rs 80-crore expansion programme that will include setting
up of additional formulation and active pharmaceutical
ingredient facilities.
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Agro
Tech plans to expand Sundrop brand
Agro Tech Foods Ltd, a 51 per cent subsidiary of the international
agribusiness major Conagra, is looking at the possibility
of extending its flagship edible oil brand, Sundrop, to
other food offerings, Mr Utpal Sen Gupta, President of
the company, said.
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UL
India plans acquisition route for expansion
Bangalore: UL India, an affiliate of the US-based
Underwriters Laboratories Inc specialising in safety and
quality certification, will be looking at acquisition
for its growth as the country was emerging as a major
growth centre in the Asia and Pacific. India, which has
shown a strong growth in the last five years, will be
one of the major focus centres for UL India.
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Accel
ICIM bags two BPO orders
Chennai: Accel ICIM Systems & Services Ltd
on Monday said that it has bagged two outsourcing deals
in the business process outsourcing space.
According
to a communiqué from the company, it is now the
authorised service provider for two IT companies, MSI
and BenQ. The former is a Taiwan-based manufacturer of
graphic cards and motherboard while BenQ India is into
digital life devices, spanning display and storage.
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