Log in
Headlines ~
CPIM protest against water problem in Jappinamogaru
Osama's son Hamza asks jihadists to attack US, allies
Same-sex marriage bill introduced to Australian Parliament
Intercaste couple goes missing: Hindu outfits demand investigation
Raveena alleges misbehaviour during I-Day celebrations in LA
Morgan Freeman's granddaughter stabbed to death in Manhattan
First batch of Hajj pigrims departs from Mangaluru International airport
Love failiar: Assistant officer of health centre commits suicide
Woman injured as Omni car hits police jeep
Conditional SR2,000 dole disbursement begins

Plastic and Polymer Park in Mangaluru: Ananth Kumar

Mangaluru: The Central Government has decided to open Polymer and Plastic Park in Mangaluru and will invest 1000 crores in the city said, Fertilizers minister Ananth Kumar. He inaugurated the exhibition of videos and photos on one year achievement of Union Government held at Hindi Prachar Bhavan on Thursday.
Later he spoke to press persons and said “150 plastic and polymer parks are expected to be opened in Mangaluru. It will create 20 thousand jobs”.

In Southern India the permission is given to MCF Karnataka, Tuttukudi Tamilnadu and Madras fertilizer to use Nafta to manufacture fertilizers. It will serve thousands of laborers and their lives he said.

  • Published in Mangaluru

Mallya now wants to raise MCF stake

Mangaluru: In what could be a final attempt to save Mangalore Chemicals and Fertilizers (MCF), a remaining jewel in his crown, liquor baron Vijay Mallya said his UB Group intended to increase its shareholding in the company, currently only 22 per cent. It plans to buy back shares from the Saroj Poddar-led Zuari Group, to equalise the shareholding of both companies in MCF.

"(By) an agreement between UB Group and the acquirer, (we) have an option to purchase such number of shares from the acquirer so as to equalise the respective shareholdings of both. The board has resolved to exercise this option in due course," Mallya wrote in the note to the accounts while declaring the financial results of United Breweries Holdings, which is the holding company of UB Group.

Zuari recently acquired majority control of MCF, earlier promoted by UB Group, after successful completion of an open offer. In an exchange filing earlier this month, Zuari Agro Chemicals said Zuari Fertilisers and Chemicals (ZFCL), a wholly owned subsidiary, had acquired an additional 36.56 per cent of the equity in MCF, taking its stake to 53.3 per cent. Hence, MCF had become a subsidiary of ZFCL and also of Zuari Agro.

However, an analyst tracking the developments said Mallya's plans were unlikely to to be fulfilled. "It is unlikely that Saroj Poddar, after acquiring majority control, will agree to give equal control to UB Group," the analyst said, on condition of anonymity. Poddar could not be reached over the phone and an SMS to him went answered.

Poddar had earlier stated he did not mind jointly running the entity with Mallya but that the "changed scenario" had to be evaluated. "The agreement between Zuari and Vijay Mallya stands as of today and I have no problem in working with him. But keeping the changed scenario in mind, we will meet and decide over the future of the company," Poddar had told Business Standard. This meeting is yet to take place.

For about two years, MCF has been embroiled in a three-cornered takeover battle between Poddar, Mallya and Deepak Fertilisers. Last December, Poddar made the open offer. Deepak decided to cash out by selling shares in phases, cutting stake to 5.22 per cent from 31.25 per cent.
  • Published in Mangaluru

MCF will keep workin using Nafta: AnantKumar

Mangaluru: Mangaluru Chemicals and Fertilizers will work using Nafta until gas connection is provided, said Union Fertilizer Minister Ananthkumar.

He spoke to the media in Circuit House and said that the Nafta that is in stock will suffice the necessity of Urea production. Until the blending work of gas gets completed the plant will produce Urea without any tension.

Modi government has given life to MCF the second time. In 2007, the UPA government has approved gas connection to MCF but even after seven years the work is incomplete. He accused that Osckar Fernandez; Veerappa Moily being the representatives of the area did not put effort in this direction.

He also praised Nalin Kumar Kateel for the interest he showed in solving the problem of MCF. he said that Nalin Kumar has brought this in front of him which was put before the cabinet meet and decided to use Nafta until the gas connection is established.

BJP Disrtict president Pratap Simha Nayak, Ex-Sabhapati N.Yogish Bhat, MP Nalin Kumar Kateel, Nagraj Shetty were present.

  • Published in Mangaluru

Nalin Kumar demands CBI probe for D.K. Ravi’s death

Kinnigoli: Unknown hands are behind the unusual death of Ravi. An Honest and efficient officer has lost his live due to political pressure. Peoples’ feelings must not be hurt and the matter must be handovered to CBI without any delay demanded MP Nalin Kumar Kateel .

He said that many issues like this are closed without investigation. Padoor-Tokoor pipeline problem has come to his notice and a meeting will be called including native people and officers he said.

MCF will not be shut for any reason. And about Niddodi Power project he said” D.K.Shivakumar has said that there is scarcity of electricity in the sate so will have to give green signal to the plant. But I have spoke to him and have convinced him that this project must be implemented in drought land not in Niddodi. If there is resistance for toll gate at Surathkal then toll gate is not required. It has been discussed in the circuit house. If not in Surathkal then one kilometer ahead toll gate will be put. On Monday will talk to DC regarding this issue”.

Smart city will come to Mangaluru Port; Railway station will be upgraded and will be converted into international level station. Survey has already begun, for anything State government must approve the project he said.

Bhuvanabhirama Udupa, Sucharit Shetty, Jagdish Adhikari, Eshwar Kateel were present.
  • Published in Surathkal

400km pipeline between Cochin and MCF: Union minister Ananth Kumar

Puttur: Administrative measures have been taken by Union government to revive Mangaluru Chemical Fertilizer company. As Petro gas is important to manufacture fertilizer talks have been held with Kerala government and the state government has agreed to install the 400km pipe line from Cochin to New Mangalore said union minister for chemical and fertilizers, Ananth Kumar.

He was speaking after inaugurating the Krishi Yantra Mela in Puttur Vivekananda Engineering College jointly organized by Campco co operative society, Areca Research and Development Foundation, Vivekananda Enginnering college and Vivekananda Polytechnic college on Saturday January 24.

Discussion has been done with Kerala Chief Minister Omman Chandy regarding the installation of the pipe line. After discussing with his cabinet members Chandy has given green signal for the project Kumar said.  After the completion of installation of the pipeline Petro Park, a complex of Petro products will be possible in Mangaluru, he added.
  • Published in D.K.

MCF starts functioning again for 100 days

Mangaluru: Mangalore Chemicals & Fertilizers (MCF) Ltd. has resumed its operations on Wednesday January 7 for the next hundred days as per the notification issued by the Central Government.

Earlier, MCF the only chemical fertilizer factory in Karnataka had stopped its work due to centre’s directive to change from naphtha-  to gas as the raw material for production of urea by June 30 and subsequently extended the deadline to September 30.

Even after spending over Rs. 305 on modernization the GAIL has not made available natural gas to the MCF. Hence, the government had stopped providing subsidy to MCF.

An MCC official said that the plant had continued its operation, with the hope that government would resolve the issue. Series of protests were held for the interference of the government in the matter.

  • Published in Mangaluru

Vijaya Mallya steps down from the board of MCF

Mangaluru: United Breweries (UB) group chairman Vijay Mallya on Monday December 1 resigned from the board of directors of Mangalore Chemicals and Fertilizers Ltd (MCF).

Mallya has not mentioned any particular reason for resigning from the post. Although the shares of the company soared as the news of Mallya’s resignation came in.

The MCF shares opened on the BSE at Rs.84, touched a high of Rs.97 during the intra-day trading after news about Mallya's resignation became public and closed at Rs.89.25, registering an increase of Rs.7.65 from previous (Friday) closing of Rs.81.60 per share.

 As per an agreement between UB group and Adventz, Mallya was to remain chairman of MCF for the next five years irrespective of his stake in the company.
  • Published in Mangaluru

`Save MCF Save farmers’-Protest to reopen MCF

Surathkal: Holding placards with writings `save MCF save farmers’, members of Mangala Workers Union protested infront of MCF and demanded the government to reopen MCF.

Protesters accused government is responsible for shutting MCF. Farmers in the country are depending on Mangala urea. If MCF is closed farmers will be troubled as the production of the urea is stopped. Hence government has to intervene in the matter and reopen the MCF, agitators demanded.






  • Published in Surathkal
Subscribe to this RSS feed