Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: JPR who wrote (3141)	11/2/1998 11:20:00 AM
From: Mohan Marette	Respond to of 12475

This just in- Biz news from India. JPR: here are couple of interesting news on the business front. Source:Asia Pulse. ================== MITSUBISHI CORP TO MOVE INTO M&A, FUND-RAISING BUSINESS TOKYO - Mitsubishi Corp. (TSE:8058) plans to offer a service brokering merger and acquisition activities and assisting in corporate fund-raising on the capital market. The trading giant will set up a 100-member in-house team in April, company sources said. Mitsubishi plans to search out buyers for operations that corporate clients want to sell as part of restructuring schemes. It also hopes to act as a go-between on M&A deals, finding merger partners and advising on prices. INDIAN OIL CORP SELECTS MITSUBISHI, DESTACK FOR POWER PROJECTS NEW DELHI - Indian state-owned oil major Indian Oil Corporation (IOC) has selected US multinational Destack and Japanese giant Mitsubishi as joint venture partners for two of its power projects costing Rs 20.88 billion (US$497 million). Destack and Mitsubishi had been selected as the EPC (engineering, procurement and construction) contractors for the 500 MW Savli power project in Vadodhra (in sthe western province of Gujarat) and the 110 MW plant at Kosi-Kalan (in the northern state of Uttar Pradesh), respectively, IOC sources said. The two multinationals would have a 26 per cent stake in the projects. NEC WINS US$206.7 MLN ORDER TO SUPPLY INDIAN/US TELECOM CO TOKYO - NEC Corp (TSE:6701) has won an order worth about 24 billion yen (US$206.7 million) from India's largest private telecom firm, Hughes Ispat Ltd. (HIL), to supply equipment for a 600,000-line telecommunications network in the state of Maharashtra. The Japanese firm will be the sole supplier of core equipment, including switching boards, optical and digital wireless-transmission equipment, and subscriber-network and network-management systems. It will export all the equipment from Japan.