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

To: Mohan Marette who wrote (3518)	1/19/1999 9:17:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Business news.(Mitsui/Enron JV,Lufthansa to take equity in Air India,etc) Source:Asia Pulse. Jan.19,99 MITSUI FORMS JV WITH ENRON CORP TO TRANSPORT LNG TO INDIA TOKYO - Mitsui O.S.K. Lines Ltd. (TSE:9104) has announced that it has established a joint venture with an Enron Corp. subsidiary to transport liquefied natural gas (LNG) from the Middle East to India. The joint venture will transport 2.1 million tons of LNG a year from Oman and Abu Dhabi to Dabhol, which lies on India's western coast. Mitsui O.S.K. will be the first marine transport company to ship LNG to India, with transportation of the fuel scheduled to begin in 2001 and continue for 20 years. LUFTHANSA CONSIDERING EQUITY SHARE IN AIR INDIA NEW DELHI - German airline Lufthansa will examine the prospects of equity participation in the Indian international carrier, Air India, after the Indian government produces clear-cut guidelines on disinvestment, a senior airlines official said. Lufthansa is also considering increasing its services to Delhi, Mumbai and Chennai from the existing 15 weekly flights and expanding to other cities such as Bangalore, Hyderabad and Calcutta, Harald Hahn, General Manager (South Asia) said. INDIA'S POWER CORP TO APPROACH US BANKS FOR US$100 MLN LOAN KAYAMKULAM, South India - India's state-owned National Thermal Power Corporation (NTPC) will raise $US100 million from the international debt market to part-finance its current expansion programmes. The NTPC will be approaching leading American banks including CS First Boston, Bank of America and Citibank-ABN Amro for this purpose, the NTPC chairman and managing director Rajendra Singh said. The funds meant to finance various ongoing projects would be raised at 100 to 150 points above the US treasury benchmark rates, Singh said. He said the banks had expressed willingness to offer the debt and a guarantee fee of 2.5 per cent has been agreed upon, while NTPC would take the credit rating route to get the interest rate reduced.