Financial Daily from THE HINDU group of publications
Saturday, Jul 26, 2003
Financial Daily from THE HINDU group of publications Saturday, Jul 26, 2003 |
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Money & Banking
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Financial Institutions FIs decide to shed stake in SWIL Our Bureau
Kolkata , July 25 A CONSORTIUM of domestic financial institutions (FIs) comprising principal equity and debt holders has decided to disinvest stake in SWIL Ltd, which is setting up a copper smelter-cum-refinery at Jhagadia in Gujarat to produce 50,000 tonnes of copper cathodes per annum. The plant's capacity is being created conforming to LME grade "A" copper cathodes. The FIs are reported to have floated global invitation of expression of interest for disinvestment of their stake. According to a SWIL source, the plant is mechanically complete. Administrative as well as technical measures are being taken to begin commercial production. The plant's synchronisation and trial run have already been completed.
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