The Hindu Business Line : Corporate developments

Coimbatore, Dec. 24 Alpa Laboratories Ltd has entered into an agreement with Wockhardt Ltd to manufacture products for further exports by Wockhardt. Alpa Labs is actively expanding its existing associations by joining hands with reputed parties all over the world.

NTPC Ltd has informed that it has concluded a $380-million loan facility under the Japan Bank International Co-operation guarantee to part-finance the 1980-MW (3 X 660 MW) Barh Super Thermal Power Project (Stage I) in Bihar. The facility will have floating rate of interest linked to the Libor and door-to-door maturity of 18 years. This is the first facility extended by JBIC without sovereign guarantee.

Petron Engineering Construction Ltd has received two orders from Madras Cements Ltd, Ariyalur, Tamil Nadu, for erection, testing and commissioning of electrical and instrumentation equipment valued at Rs 6 crore and for supply of electrical and instrumentation materials valued at Rs 3.61 crore.

Southern Iron & Steel Company Ltd has said that the share allotment committee has allotted equity shares of Rs 10 each at a premium of Rs 52 per share to banks/FIs on preferential basis on conversion of optionally convertible loan into equity in terms of the resolution passed by the shareholders in the AGM held on July 19. These shares will rank pari-passu with the existing equity shares. The banks/FIs and the allotted shares in brackets are Indian Bank (41,13,516), South Indian Bank (17,06,452), Punjab National Bank (20,11,022), Union Bank of India (51,44,086), Indian Overseas Bank (28,43,011),Bank of Baroda (33,80,645) ICICI Bank Ltd (1,31,33,871) and IFCI Ltd (58,02,752).

Uttam Sugar Mills Ltd’s board of directors will meet on December 31 to consider the expansion of sugar crushing capacity, expansion of distillery (ethanol) capacity and matching co-generation, all at Barkatpur unit, expansion of sugar crushing capacity at Shermau unit and matching co-generation, setting up of a green-field project in Karnataka for manufacture of premium refined sugar of international quality along with setting up of co-generation unit and raising of resources for the expansion/diversification.