Bizbits

Propack 8217;99

MUMBAI: Propack 8217;99, the largest diversified exhibition of products ever to have taken place in central India, is being organised at the Kasturchand Park Ground in Nagpur from April 2 to 6. The first of its kind trade fair in the region will bring varied products from agriculture to industry from small scale to large scale and processing to packaging under one roof. The five-day event has attracted industriesinvolved in food processing, dairy products, poultry and fisheries, chemicals and petroleum, process control applications and printing and packaging.

3Com subsidiary

NEW DELHI: US networking major 3Com will set up a wholly-owned subsidiary within the next two months and make India a logistics hub for its operations in the neighbouring countries, bringing in substantial investment. Plans are on the anvil to forge joint ventures with Indian software firms to make India a development hub as well for the company8217;s global operations, a senior company official said.

Nokia to invest

SINGAPORE: Global mobile phone manufacturer Nokia would invest in India for technology development for providing various regional languages on cellular phone, a senior company official said. quot;We are working on various technology developments in India for providing regional languages in cellular phones by downloading these languages from softwares,quot; Nokia Mobile vice president Nigel Litchfield saidhere.

Lubrizol India

NEW DELHI: The petroleum ministry has favoured selling the entire 60 per cent government equity in the joint sector oil company Lubrizol India to state-owned Indian Oil Corporation IOC. IOC would in turn sell 10 per cent stake to the US multinational Lubrizol Corporation.

IDBI meet on steel projects

MUMBAI: IDBI is holding its crucial board meeting in New Delhi on Tuesday to decide on the fate of 14 steel projects that have been stuck due to lack of funds. The institution had postponed the board meet twice this month one on March 8 and the other on March 18. The four-member steel sub-committee consisting of Gupta, Dipankar Basu, Tarun Das and Basant Raj will make its recommendations to the IDBI board. quot;We are meeting in Delhi8230; Formal announcement will be made after the board meeting,quot; IDBI chairman GP Gupta told The Indian Express.

Laeis Bucher in Glass amp; Ceramics 8217;99

MUMBAI: Glass amp; Ceramics 8217;99, an exhibition on glass and ceramics, was heldin Mumbai on Saturday which attracted exhibitors from all over the world. Both manufacturers of glass and ceramics and suppliers of these industries are displaying their products in the exhibition. German firm, Laeis Bucher, market leader for machines and plans for the refractory industry, had the latest laboratory mixer on display. Many Indian steel companies and many refractory producers too are manufacturing refractories on Laeis Bucher equipment. The company has built reliable relations with India during the last few decades and is considered as a strong partner for the refractory and ceramics industry.

US firm leads race for Essar Power

NEW DELHI: Marathon Power Company of USA has emerged as the front runner to acquire 49 per cent equity stake in Essar Power. Highly-placed sources in Essar group said that Marathon and Essar were in the final stages of negotiating the shareholders agreement.

Tisco suspends Gopalpur project work

BHUBANESWAR: Tata Iron amp; Steel Co has suspended allwork on the Gopalpur steel project pending development of the necessary infrastructure in the area, Orissa steel amp; mines minister Haladhar Karjee told the state assembly on Monday. The minister, however, said that the steel company had assured his government that it would not withdraw from the project.

According to Karjee, in a communique to the state government on March 16, Tisco had stated that quot;it had no intention of withdrawing from its proposed steel project in Gopalpur.quot; quot;The project has been temporarily shelved,quot; the company had, reportedly, said. During question hour, Karjee told the assembly that the Tatas had assured the government that they would resume work on the project once the infrastructure was ready. Blaming the Centre for the delay in developing the infrastructure, he said that the Union forest amp; environment ministry was yet to give clearance to the proposed project site.