april 6, 1995

Tisco rethink on location of second plant

The choice of the location of Tata Steel’s proposed second integrated steel plant is no more restricted to the West Coast of the country. Difficulty in accessing iron-ore, the major raw material, and inability to bring in large-sized ore carriers right into the ports on the West Coast have prompted the company to veer around a suitable location elsewhere, including the East Coast, according to Dr. JJ Irani, Managing Director of Tata Steel. Announcing the company’s production and sales performance during the fiscal 1994-95, Dr. Irani said the problem of logistics had also forced the company to set its sights wider for locating its proposed second integrated steel plant.

Rs. 150 cr released for restructuring RRBs

The Government has released Rs. 150 crores for recapitalising the 49 Regional Rural Banks (RRBs) selected for the first phase of the restructuring. According to Finance Ministry officials, a matching contribution would come from the sponsoring banks and State governments, thereby taking the aggregate amount to be injected into the RRBs as additional share capital to Rs. 300 crores.

Foodgrain output put at 186.35 mt

With production of both rice and wheat surpassing targets, the country’s foodgrain production in 1994-95 has been estimated at a new high of 186.35 million tonnes. This represents a 2.3 per cent increase over the previous year’s grain output of 182.12 million tonnes. “In 1995-96, we may achieve a production range of 189-190 million tonnes, against a target of 192 million tonnes set by the Planning Commission for the year,” the Agriculture Secretary, Mr. J. C Pant, told newspersons at the end of the two-day “National conference on agriculture for kharif campaign, 1995” here.

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