ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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R and D - Based Growth

Hansavivek CHLORIDE INDIA'S expansion schemes at Haldia have been delayed due to disruption of communications as a result of last year's severe flood and subsequently due to problems of engaging workers by contractors at site. Work is now progressing fairly satisfactorily and it is expected that the import substitutions project for battery separators will be in operation by early 1980, the 100 per cent export factory by the end of 1980 and the unit for manufacturing industrial batteries during the first half of 1981. Also, work has started on the modernisation of production facilities for automotive batteries at the Shamnagar factory. To meet a part of the cost of expansion projects, rupee and foreign exchange term loans aggregating about Rs 185 lakhs are being negotiated with the financial institutions and banks. For the increased requirements of working capital, the company proposes to issue shortly 11 per cent: mortgage debentures for Rs 100 lakhs as rights to the existing shareholders and also to negotiate with bankers for raising the borrowing limits. The company has also received approval from RBI for raising its public deposit level from Rs 1 crore to Rs 2 crores.

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