The Cabinet Committee on Economic Affairs (CCEA) has cleared the proposal for disinvestment of Government holdings in selected public sector undertakings during 1994-95 as per the approved guidelines. An official spokesman told newsmen here on Saturday that holdings in 21 PSUs would be disinvested during the period. The disinvestment level would be in the region of 10 per cent to 20 per cent. The disinvestment would be through any of the three routes: auction, buying by the Government and selling to the public and putting a fix price for the shares and offering them to the public, the spokesman said.

Volkswagen signs MoU with Eicher

Volkswagen AG, Germany, has announced plans to enter India with the signing of a memorandum of understanding (MoU) with the Eicher group initiating a joint feasibility study for manufacturing passenger cars. The Chairman and President, Volkswagen Asia-Pacific Ltd and member of the management board, Mr. Martin Posth, said on Saturday that on completion of the feasibility study, both companies would set up a joint venture. The study is expected to be completed by January next.

First private international airport in Bangalore

Bangalore is all set to become a mega city. Blueprints have been drawn to set up an international airport, a new silicon valley, world-class hotels and an amusement park on the lines of Disneyland, besides golf courses to meet the increasing needs of globe-trotting businessmen. As a first step, the Karnataka Government has initiated action to set up the city’s first ever private international airport in Bangalore. A global tender to invite bids to construct the airport will be floated soon.

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