INDIA
BUSINESS WORLD -
JUNE 2006
THE MONTH THAT WAS...
NIKHIL GANDHI TO RAISE 600 CR
AFTER selling the SEZ to Mukesh Ambani and Pipavav Port to AP Moller Group of Denmark, Nikhil Gandhi is set to rope in the defence ministry and four international financial investors — three from the US and one from Asia — to raise Rs 600 crore for Pipavav Shipyard.
The ministry has cleared the proposal to invest Rs 100 crore in Pipavav Shipyard Engineering (PSEL), and is now awaiting a go-ahead from CCEA. IL&FS, which holds one-third of PSEL's equity, is in advanced talks with financial investors to raise Rs 600 crore through debt and equity.
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