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

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IN THE CAPITAL MARKET Murablack India MURABLACK INDIA, which is setting up a Rs 53.03 crore 100 per cent export oriented 9000-tonnes super and ctciro conductive grade carbon black project (the product to find use in plastics and rubber products, inks, paints and in dry cell batteries) at Tarapur, Maharashtra, in collaboration with Murachemie SA, Switzerland, a subsidiary of Balduin Weisser SA, which has developed and holds worldwide patents for the 'Mura' process which will be used in the project, is offering from May 5, 1,09,34,500 equity shares of Rs 10 each (Rs 10.93 crore) at par for subscription to the public The project, promoted by J K Malhotra and S T Shah, is to be financed with equity funds of Rs 25.12 crore, of which the promoters are contributing Rs 6.88 crore, Murachemie Rs 5.2 crore, SICOM Rs 1.5 crore and Union Carbide (India) Rs 50 lakh. Murablack India is obtaining Rs 25.12 crore of foreign currency loan from the Swiss Bank Corporation and a rupee term loan of Rs 1.65 crore from the IDBI, IFCI and ICICI. Murachemie is installing for Murablack India a plant which it had commissioned in Switzerland in 1984 and run for only a couple of years. The main raw material, aromatic rich carbon black feedstock, which is an aromatic residual oil, will be imported from Dow Chemicals, USA, at a price of $ 90 per tonne, while oxygen and nitrogen will be supplied by the Indian Oxygen. The total import component of the project is estimated at Rs 31,34 crore. Mitsubishi Corporation, Japan, has in prmciple agreed to market Murablack India's entire production worldwide, while Union Carbide (India) has undertaken to market up to 3,000 tonnes of the dry cell battery grade product globally per annum and Mura- chemie 3,000 tonnes in the west.

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