Diversifying from Tobacco

Diversifying from Tobacco Hansavivek GOLDEN TOBACCO COMPANY (GTC is diversifying into other businesses. It has taken effective steps to enter shipping industry. Although shipping industry has been passing through a bad patch, the directors consider this as the right time in view of availability of ships at economical prices. The company is awaiting necessary clearances under MRTP Act. It is also participating in a project being set up in Thailand for manufacture of 3,300 tonnes of cigtarette and other speciality papers per annum by a new company known as Thai Speciality Papers. An agreement has been entered into with Yip in Tsoi and Company, Bangkok, under which GTC will supply technical knowhow as well as ma ohinery for the project. Thai company will have a paid-up capital of 71.865 million Baht, of which about 29 per cent will be subscribed by GTC. Approval of the Central government to make such investment has been received. Besides, the company proposes to The Week's Companies participate in a chemical project in Gujarat in association with GIIC. Negotiations have reached an advanced stage. During the year ended June 1983, GTCs production of cigarettes