Gail and Reliance slug it out over gas pipeline
New Delhi: Reliance Industries Ltd (RIL) and Gail (India) Ltd are currently in a tangle over the ownership of gas transportation lines to evacuate RIL's gas find in the Krishna-Godavari basin. Apart from ownership there is also the issue of tariff as Gail last week offered to evacuate gas at a tariff of 39 cents per million British thermal units (mmbtu), while Reliance has offered to do it at a lower tariff. On the issue of gas transportation Gail has argued that it is best capable of setting up the highways since it would cater to the needs of all those companies that have discovered gas in the KG basin region.

The discovered gas can be evacuated through a single pipeline thereby ensuring efficient use of capital and avoiding duplication of assets. Reliance, on the other hand, has argued with the Government that the draft gas pipeline policy allows it to go ahead with its captive pipeline. The pipeline in question will connect Kakinada in Andhra Pradesh to Uran, adjacent to Mumbai, and will cost around Rs 6,725 crore. RIL has offered to lay the pipeline at 70 per cent of the cost set out by Gail.
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Ayurvedagram hived off as separate entity
Bangalore: Ayurvedagram Heritage Wellness Centre Pvt Ltd (AHWC), till now run as a subsidiary of the Rs 13.09-crore Kerala Ayurveda Pharmacy Ltd (KAPL), has been hived off as a separate business entity with its own capitalisation of about Rs 3 crore. KAPL is a 75-year old company, which provides exclusive Ayurvedic treatment through integrated facilities of a hospital and the production of Ayurvedic medicines in Kerala.
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Gail in talks for expansion of its Egyptian operations
New Delhi: GAIL (India) Ltd is in negotiations to acquire a 22 per cent stake in Egypt's largest city gas distribution firm, NatGas. It is also eying the prospect of acquiring British Gas' entire holding (45 per cent) in Nile Valley Corporation. EK Holdings, which is selling 22 per cent stake in NatGas, has made it clear to Gail that it cannot negotiate any other acquisition until the NatGas deal is firmed up or turned down.

Hence, any progress on the Nile Valley deal will have to wait for the outcome on the NatGas deal. EK Holdings, a Kuwait-based diversified firm, is negotiating to sell 22 per cent of its 67 per cent stake in NatGas to Gail. The other major stakeholder in NatGas includes Shell, which has a 20 per cent stake. Gail had earlier bought Shell's 19 per cent stake in Fayum Gas, Egypt, and 22 per cent in Shell CNG, Egypt for about Rs 11 crore.
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Asian Paints linked up with Berger Paints Pakistan
Mumbai: Asian Paints India Ltd has informed the BSE that Berger International Ltd (BIL), its Singapore-based subsidiary, has entered into a technical consultancy and advice arrangement with Berger Paints Pakistan. This arrangement puts at Berger Paints Pakistan Ltd's disposal, through Berger International Ltd, the technical expertise and technology of the Asian Paints group companies.
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Electrolux Kelvinator reduces losses
New Delhi: Electrolux Kelvinator Ltd (EKL), the Indian subsidiary of AB Electrolux Group, has achieved 49 per cent growth in value terms in the first quarter of the current year. The company's sales in value terms increased to Rs 97.56 crore from Rs 65.45 crore for the corresponding period last year. The company has reduced its losses for the three months period ended March 31, 2004 to Rs 27 crore from Rs 44 crore during the corresponding period last year.

During the first quarter ending March 31, 2004, Electrolux's EBIDTA (earnings before interest, depreciation, tax and amortisation) before exceptional items improved by 52 per cent. The improvement in EBIDTA has been primarily on account of improvement in product mix, reduction in direct material costs, benefits of stiff cost control measures by management and benefits of restructuring measures taken by the management, according to a company communiqué. The company's Rs 200-crore (approximately) rights issue has been fully subscribed on April 26, 2004, it said. The company will now focus on new product development, a market expansion programme, a brand building exercise, and strengthening its R&D capabilities.
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Samsung launches turbo upgrade offer
Hyderabad: Samsung India Electronics Ltd has announced the national launch of the Turbo Upgrade offer that covers colour monitors, HDD and CD writers, as also the Samsung Smart Exchange offer for printers. The overall established PC user base in the country is estimated at about 12.5 million, of which over 5 million would be more than three years old. According to the company, these could be in need of up gradation in view of the new features and convergence technologies.

The growing and fast changing PC usage in the country offers an exciting opportunity for the company to tap by way of latest technology offerings. Most of the older PCs have smaller monitors, lower capacity hard disks with 10 GB and 48X CD-ROM drives. As part of the turbo upgrade, Samsung offers this upgrade for Rs 11,999 covering the 17-inch monitor, 80-GB HDD and CDRW.
Alternatively, a consumer can opt for a 17-inch PC monitor, CDRW, 80-GB HDD for Rs 9,499. A cost analysis reflects that the consumers are able to avail themselves of discounts up to 40 per cent on the normal market prices of components.
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PRO FX to distribute QED products
Bangalore: PRO FX, the high-end audio entertainment brand promoted by BPL, has entered into a strategic partnership with UK-based QED, one among the top three speaker cable and audio inter-connect brands in the world. PRO FX will represent QED in India as its sole distributor. The inclusion of QED into PRO FX's product range is of strategic importance to fulfil PRO FX's mission of being a one-stop shop for high-end hi-fi and home theatre solutions. QED products will be imported and sold through PRO FX-owned showrooms in Mumbai, Bangalore and Chennai as well as through PRO FX's nationwide dealer network.
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GM rolls out Special Optra
Bangalore: General Motors India has launched a special edition of Optra, "Chevrolet Optra 1.8 Max,' to coincide with the Chevrolet anniversary celebrations. According to a press statement from the company, the four-door 1.8 litre special edition has been priced Rs 7,69,000. The Chevrolet Optra has established a market share of 30 per cent in the entry D1 segment during the first quarter of 2004.
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