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GAIL begins naphtha marketing, starts Thulendi-Phulpur pipeline

Mumbai, May 22 (UNI) The state-owned GAIL India has entered into naphtha marketing for the first time on May 19 with the supply of its first naphtha tanker to NTPC, Auraiya, from its plant located at Pata in UP.

Announcing this, the Company said the production of naphtha as a by-product of LPG fractionation has commenced for the first time at the Company's plant at Pata after successfully carrying out suitable modifications in the process parameters.

To begin with, the Company will be supplying about 14,000 MT/annum of naphtha from its Pata plant to NTPC, Auraiya. Similar process changes have been planned at other Company's plants located at Vijaipur in MP and Gandhar in Gujarat in near future and the naphtha to be manufactured at these locations has already been tied up with other unit of NTPC at Anta.

The Company will be manufacturing about 65,000 MT/annum at all its locations put together.

Meanwhile, the Company has commissioned the Thulendi-Phulpur pipeline and commenced gas supply to IFFCO. The 18-inch, 139 km pipeline was commissioned ahead of the schedule. As against the approved project cost of Rs 220 crore, the actual cost incurred was approximately Rs 150 crore.

With the commissioning of this pipeline, the Company has completed one more leg of its proposed national gas grid, the other legs completed so far being Gas Expansion and Rehabilitation Project (GREP) and Dahej-Vijaipur pipelines.

Other pipelines under the national gas grid currently under construction include 474 km Dahej-Uran pipeline scheduled for completion in March 2007, 375-km Panvel-Dabhol pipeline scheduled for commissioning in March 2007, and 192-km Vijaipur-Kota pipeline scheduled for completion in December this year.

UNI SN MAZ VKG1525

Titan completes allotment of new shares

Mumbai, May 22: The rights issue of Tata group company, Titan Industries Limited, closed with over-subscription of 20 per cent and the allotment of the new shares and debentures was made on May 12, a press release here today said.The Company has allotted 21,13,038 equity shares of Rs 10 each at a premium of Rs 340 per share and an equal number of non-convertible debentures of Rs 250 each to over 29,000 applicants. With a total inflow of Rs 126.83.....

No payment problems says SEBI chief

New Delhi, May 22 (UNI) On a day of meltdown in the stock market when the Sensex finally crashed by 456.84 points after an intra-day jolt of 1112 points, the Securties and Exchange Board of India assured the investors that there are no payment or liquidity problems in the bourses. ''There are absolutely no liquidity problems of any kind'', SEBI Chairman M Damodaran said in a television interview. He advised the investor ''not to fall.....

MSE Index fell by 91.40 points

Chennai, May 22 (UNI) MSE index further declained by 91.40 points and closed at 5211.44 points today. Following are the opening and closing rates of scrips traded: Apollo Tyre 270 Ashok Leyland 38.75 Castrol 195.40 Fed Bank 180 Hind lever 245.40 ITC 172.50 Mascon Glo 12.10 Polaris 82.60 TN Petro 18 Wipro 445.15 UNI XR PAG1710.....
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