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

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SIV INDUSTRIES-Lower Profit

EPW Research Foundation GESCO New Joint Venture THE largest private sector shipping company, Great Eastern Shipping Company (Gesco), is now planning to float a new joint venture with a company based in the Far East in order to run executive residential centres and business complexes. Gesco plans to hold a 30 per cent stake in the joint venture, with an option to increase it to 60 percent, making an initial investment of around Rs 70 crore. The company already has a property development division and the new business will result in value addition. The new company will initially receive the existing and viable property under the Gesco wing at full market value.

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