{"id":113,"date":"2007-06-18T04:16:33","date_gmt":"2007-06-18T08:16:33","guid":{"rendered":"http:\/\/www.orissawatch.org\/Infra\/?p=113"},"modified":"2007-06-18T11:52:44","modified_gmt":"2007-06-18T15:52:44","slug":"bhp-bilton-eyes-orissa","status":"publish","type":"post","link":"https:\/\/www.orissalinks.com\/orissagrowth\/archives\/113","title":{"rendered":"BHP Bilton eyes orissa"},"content":{"rendered":"<p>Various Interational journals(<a href=\"http:\/\/www.forbes.com\/markets\/feeds\/afx\/2007\/06\/18\/afx3829213.html\"> forbes<\/a>,<a href=\"http:\/\/www.hemscott.com\/news\/latest-news\/item.do?newsId=45163728923819\">Hemscott<\/a>,<a href=\"http:\/\/www.abcmoney.co.uk\/news\/18200788915.htm\">Abcmoney<\/a>,<a href=\"http:\/\/investing.reuters.co.uk\/news\/articleinvesting.aspx?type=mergersNews&amp;storyID=2007-06-18T040356Z_01_BOM125213_RTRIDST_0_BHP-ASHAPURA.XML\">Reuters UK<\/a>) have reported that BHP Bilton is buying a stake in a mining unit Ashapura Minechem Ltd.The stake will be 51%. This provides a backdoor entry for BHP Bilton into Orissa. Earliar it tried toi bid in Sesa Goa. BUt that stake was taken by Vedanta group.<\/p>\n<blockquote><p><em>BHP Billiton Ltd.\/Plc. (BHP.AX: Quote, Profile , Research) (BLT.L: Quote, Profile , Research), the world&#8217;s biggest mining group, is in talks to buy a 51 percent stake in an Indian alumina project, the Business Standard newspaper said on Monday.<\/em><em>Indian mining and mineral firm Ashapura Minechem Ltd. (ASHM.BO: Quote, Profile , Research) will hold the remaining 49 percent in the 25-billion-rupee ($614 million) project in the eastern state of Orissa, the paper said, quoting unnamed sources.<\/em><em>The two partners will invest 8 billion rupees towards equity and the remaining 17 billion will be raised through debt, it said.<\/em><em>The spokesman for Mumbai-based Ashapura could not immediately comment on the report.<\/em><em>In May, an official at Ashapura had said it was bidding for a bauxite mining lease in Orissa.<\/em><\/p>\n<p><em>The Business Standard reported quoted Managing Director Chetan Shah as saying that it would take three months for government approval, and the project would be commissioned by next year.<\/em><\/p>\n<p><em>But he declined to identify a likely partner, the paper said.<\/em><\/p>\n<p><em>Ashapura has a tie-up with China&#8217;s Qingtongxia Aluminium Group for a 25-billion-rupee alumina refinery project in the western state of Gujarat. Construction work is scheduled to start in November. ($1 = 40.7 rupees)<\/em><\/p>\n<p><em>There are currently no plans for a Aluminium plant at this stage though.<\/em><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Various Interational journals( forbes,Hemscott,Abcmoney,Reuters UK) have reported that BHP Bilton is buying a stake in a mining unit Ashapura Minechem Ltd.The stake will be 51%. This provides a backdoor entry for BHP Bilton into Orissa. Earliar it tried toi bid in Sesa Goa. BUt that stake was taken by Vedanta group. BHP Billiton Ltd.\/Plc. (BHP.AX: [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42,128,40,119],"tags":[],"class_list":["post-113","post","type-post","status-publish","format-standard","hentry","category-investments-and-investment-plans-in-orissa","category-iron-ore","category-orissa-mining-and-minerals","category-mining-royalty"],"_links":{"self":[{"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/posts\/113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/comments?post=113"}],"version-history":[{"count":0,"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/posts\/113\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/media?parent=113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/categories?post=113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.orissalinks.com\/orissagrowth\/wp-json\/wp\/v2\/tags?post=113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}