Better with Lower Tax Liability

Better with Lower Tax Liability Hansavivek UNION CARBIDE INDIA (UCI) has secured a letter of intent for manufacture of 45 units per year of systems for recovery and purification of solvents, gases and air lor industrial applications, and 500 units per year of oxygen concentrator for medical applications. Manufacturing facilities for these products will be set up in a backward area in AP. These systems find use in the metallurgical, mineral processing and fertiliser industries. They can be applied to making available medical oxygen through a simple machine without depending on gas cylinders. This is a vital breakthrough in reaching life-support systems to remote areas. The company's proposals to government for utilisation of offshore gas from Bombay High also presages for the country a move towards newer industrial areas and superior techniques. The company has many firsts to its credit Its latest achievement is 'Signalite', ,a battery powered lantern for railway signalling. Replacing the age- old kerosene lamp, 'Signalite' has a unique attachment of red and green sleeves surrounding the bulb, which enables it to function as a tricolour railway signalling lamp and traffic control lamp. This invention earned the President's award for Meritorious Invention in the Republic Day 1991 awards and has been granted worldwide patents. Construction activity is in progress on the J and K project for manufacture of dry batteries. Trial lots of batteries were produced in December last. The subsidiary, Nepal Battery Company, has been allotted land in Kath- mandu and construction work of the factory is expected to com- mence shortly there. Nepal Industrial Development Corporation, a financial institution in Nepal, has sanctioned a term loan of Nepa- lese Rs 78 lakh to it. Its factory will have a capacity of 12 million dry batteries per annum on a single shift basis. UCI has been allotted 97,150 equity shares, of Nepal Rs 100 each, against supply of equipment and machinery. A new agreement has been concluded between union Carbide, USA, and UCI, whereby the latter will receive a larger fee in foreign exchange for imparting to the foreign collaborator technical know- how developed at its research centre at Bhopal.