sonics
Tho Comnonwealth ere hapeats Pinance Company has agreed to lend Universal Cables of India £300,000 towards the total cost ostimateud at the equivalent of £2m., of 2. new power cable works at Satna in Madhya Pradesh. This loan, with a similar sum from the Industrial Crodit and Investment Corporation of India, will meot tho borrower's foreign exchan:o requirements. British Insulated Callonder's Cables will provide technical assistance for the project.
A Daily Tolograph report statoss
'Now Dolhi, 4th Decombor. Krupp of usson is to back India's roarmamont drive by supplying hoat-treating cquipmont for production of tank armour plato, it was learnt in New Delhi tonight. Ovens have boon ordersd capable of turning out 5,000 to 6,000 tons of hardened stosl a month, said a Gorman spokesman.
Tho project is getting priority. Tho ovens will be sent in the first quarter of 1963 to the Gorman-built State-owned stocl mill at Rourkola, Orissa. India has already launchod a pilot plant in Madras to build the British Chieftain tank.
Herr Alfricd Krupp, 55, who was once gaoled by the Allios for hig wartime activitics, is on a bricf visit to India as iir. chru's guost.
The Gorman consortium of which his company is the biggest mombor has agroed to speed the expansion of Rourkela from its presont capacity of a million tons a yoar to 1,800,000. This actually moans more than doubling its output, since it is operating at only four-fifths of its capacity.
The agreed expansion at Rourkola will cost £70 million, said Herr Krujp in New Delhi tonight. Half this would be covored by Wost Gorman long-term credits.
Horr Krupp added that Rourkola was ospocially important in India's defence programme, since it was designed to turn out shoot-stool seamless piping suitable for vehiclos.