India moves for WS Group
31 March 1997 00:00 [Source: ICB]
The Madras-based WS Group has signed a memorandum of understanding with Norsk Hydro and Tamilnadu Industrial Development (Tidco) to build a 150 000 tonne/year PVC resins plant in India (ECN 15 January 1996). The $112m plant will be built in Madras and would not start up before 1999-2000. Norsk Hydro will hold 40% and WS Group and Tido will each hold 11%. The remaining equity will be offered to the public.
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