Fund for Mundra project

Mumbai, April 24: Tata Power has arranged funds for the Rs 17,000-crore mega power project at Mundra in Gujarat. The project will be set up under a special purpose vehicle, Coastal Gujarat Power, and will have five units. The first unit is expected to be commissioned in September 2011. The financing plan comprises Rs 4,250 crore of equity, external commercial borrowings of up to $1.8 billion and rupee loans of up to Rs 5,550 crore.

EID Parry

Mumbai, April 24: EID Parry India, a Murugappa group company, will sell 47 per cent of its stake in Parryware Roca to an affiliate of Spain-based Roca Sanitario for 111.14 million euros (about Rs 696 crore).

DEPB benefits

New Delhi, April 24: The government’s decision to withdraw benefits under the duty entitlement pass book scheme (DEPB) on export of primary steel products, cement and rice will not be applicable to shipments made prior to the date of the announcement.

GM loss

Detroit, April 24: General Motors has lost the top spot in global sales to Toyota Motors. The US car maker reported a slight dip in its first-quarter sales because of a weak domestic market.

Jet deal

Mumbai, April 24: Private air carrier Jet Airways has entered into a land lease agreement with Bangalore International Airport Ltd to set up a maintenance, repair and overhaul facility in Bangalore.