31 May 2000
Part-privatisation for Indian fertiliser

INDIA plans to turn the publicly owned Paradeep Phosphates, Asias largest diammonium phosphate fertiliser company, into a public-private partnership, reports the Financial Times.

The federal government is divesting 74% equity to a strategic partner, which could either be India or foreign.

It hopes this will lead to a turnaround in the fortunes of the company which has been losing money since 1996-97.

Meanwhile, an international animal rights group says it has dissuaded five global retailers from using leather from India.

People for Ethical Treatment of Animals (PETA) says cows are badly treated there, despite their sacred status.

It says the ban will remain until conditions improve.

  • Financial Times 31/05/2000 page 15 and 40