Monday, November 9, 1998
Indo-Oman project cost likely to be slashed by $100 mn
The cost of Oman-India Fertiliser Project (OIFP) will be brought down significantly from $1106 million by deleting the proposed gas turbine unit and some other equipment including compressors. During a recent meeting of the sponsors of the project, it was agreed that Engineering Procurement and Construction (EPC) contract price would be reduced without jeopardising the reliability of the project.
IRFC to raise 8.85 bn yen ECB
Indian Railway Finance Corporation (IRFC), a special purpose vehicle wholly owned by the government of India with the sole objective of financing the Indian Railways, is currently raising a long-term external commercial borrowing loan amounting to 8.85 billion Japanese yen guaranteed by the government and underwritten by both the syndicators.
Power minister seeks $300 mn from RIB
Power minister P R Kumaramangalam has asked the State Bank of India (SBI) to allocate $ 300 million (about Rs 1300 crore) for the power sector from its $ 4.2 bn collection though Resurgent India Bonds (RIBs).
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