The joint venture urea project between the Indian Farmers Fertiliser Cooperative (Iffco), Krishak Bharati Cooperative Ltd (Kribhco) and the Iranian Government is likely to be shelved. This is because the parties have not been able to reach an agreement on the price of the natural gas. The Iranian Government has offered a price of 75 cents per million British thermal units (BTU) while the cooperatives have been demanding that it should be 50 cents per million BTU plus actual transportation costs.

Rs. 100-cr. floor likely for all-risk industrial policy

The Industrial All Risks (IAR) policy that is under formulation by the Tariff Advisory Committee is likely to have a floor limit of Rs. 100 crores for the value of risk insured. The earlier proposal of Rs. 200 crores as the minimum sum assured has been reduced in the draft policy on demand from potential clients, it is learnt. But the draft is nowhere near being finalised since the rating guidelines are yet to be accepted by the ratings sub-committee of the TAC. This is expected to come through only in May when the sub-committee is to meet. Some more changes in the wordings of the draft are also being carried out.

Rajarathinam for Rs. 400-cr. communications project

The takeover tycoon, Mr. P. Rajarathinam, has set his sights on multi-media business and his group is working on a Rs. 400-crore satellite communications network with uplinking facility, largely designed to serve as a mega communications infrastructure. Global Communications Ltd, the new outfit incorporated by the P. Rajarathinam and Associates would provide a range of communications systems for diverse applications, including cable TV, and corporate communications networking.

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