Govt. won’t budge on oil, gas deals

Brushing aside objections raised by the Tatas, including the demand to make public all records relating to the latest oil and gas contracts, the Government has gone ahead and issued letters of intent to the consortium of Reliance-Enron and Videocon- Mambeni-Command Petroleum.

The letters of intent will be converted into formal contracts shortly if the official mood is to be believed. While the consortium of Reliance Industries Limited-Enron Exploration Company USA has been formally invited by the Ministry of Petroleum and Natural Gas for negotiations on April 20 and 21 to develop the Mid and South Tapti gas fields and the Mukta and Panna oil fields, the Videocon consortium was delivered the letter of intent on March 17 inviting them to discuss the development of the Rawa oil field located in an off-shore site of Andhra Pradesh.

Rajan Pillai's proposal awaits FIPB approval

The Singapore-based non-resident Indian, Mr. Rajan Pillai, is making a strong bid to re-establish himself in the country’s biscuit industry. Mr. Pillai’s latest move indicates that he is determined to come back with investment proposals to re-build his corporate, empire in the liberalised environment here. He has already set the ball rolling by forming a new company in Singapore under the name Beta Brands Pte Ltd. (BBPL). This outfit is likely to take up projects in India. Mr. Pillai recently filed an application with the Foreign Investment Promotion Board (FIPB), seeking its approval for a modern biscuit and snacks manufacturing unit in India. Available indications suggest that he is not keen on an export oriented project.

Related Topics
comment COMMENT NOW