GAIL told to shed stake in Auriya unit

The Government has asked the Gas Authority of India Ltd (GAIL) to divest its stake in the petrochemical unit being set up by it in Auriya, Uttar Pradesh. A communication to this effect has been sent last week by the Ministry of Petroleum and Natural Gas to GAIL as per which they have been asked to either divest their stake in the plant fully or form a joint venture. Meanwhile, it has been reliably learnt that the Ministry has worked out a package to invite private parties to take over the unit.

SAIL reaps benefit of MoUs with ‘high stake’ customers

With MoUs with ‘high stake and key’ customers covering close to 45 per cent of targeted sales, the Rs. 13,400-crore-turnover Steel Authority of India Ltd appears to have made a head start in the new financial year. SAIL is fully booked against its planned 1995-96 production of HR and CR coils and sheets. It has also secured substantial orders against the programmed production of plates in the Bhilai Steel Plant.

FCI to offload 3 lakh tonnes rice, wheat

The Food Corporation of India (FCI) is planning to off-load three lakh tonnes each of rice and wheat from its stocks to the State Trading Corporation (STC) for exporting to a food-deficit China. The Corporation also expects to procure a record 12.95 million tonnes of wheat in the ongoing rabi marketing season (April-June), against 11.87 million tonnes procured last year. ‘The STC has informed us that they are negotiating with buyers in China and would procure grains from FCI if they find the price favourable, ‘ said the FCI Chairman, Mr. Prabhat Kumar, addressing a press conference here.

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