MRPL eyes Mallya's Mangalore Fertilizers stake

[email protected] (Times of India)
May 8, 2012

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Mumbai, May 8: Mangalore Refinery and Petrochemicals (MRPL), majority owned by state-owned ONGC, has expressed interest to acquire promoter's stake in Mangalore Chemicals & Fertilizers (MCF), said a source directly involved with the matter.

Liquor baron Vijay Mallya's UB Group holds little over 30% stake in MCF, a non-core investment that may be sold to fund its bleeding Kingfisher Airlines. MRPL managing director Uttam Kumar Basu has written a letter to Mallya last month expressing interest to takeover MCF and seeking permission to start a due diligence. U K Basu declined to offer any comments while ONGC chairman Sudhir Vasudeva, who is in Kuwait to attend an international oil and gas conference, could not be immediately reached for his comments.

Recent media reports said Zuari Industries and Chambal Chemicals & Fertilizers have evinced interest to buy Mallya's fertilizer unit. The ONGC subsidiary finds MCF a strategic fit, which is in close vicinity and the refinery by-products naphtha and fuel oil may be used as feed stock to operate the fertilizer plant.

MRPL MD U K Basu term is coming to an end in June and MRPL director technical P P Upadhya is likely to take over new MD from July. "Yes, MRPL is interested in that asset but it's too premature to comment anything at this point of time," said the source briefed about the matter, adding that we are yet to hear anything from UB group. MCF shares closed at Rs 40, valuing the firm close to Rs 500 crore. But the deal is likely to be done at a premium considering the over 200 acres land bank of the company can be used for further expansion.

"I don't think UB Group is interested in keeping this fertilizer business under its fold and it would be a good move if they sell it to MRPL because of the synergies it draws. With this sale, UB Group will get some breathing space as it struggles to keep afloat the debt laden kingfisher airlines," said investment advisor S P Tulsian.




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News Network
September 19,2024

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Mangaluru, Sep 19: Following the recent Nipah virus-related fatalities in Kerala, health authorities in Dakshina Kannada are taking proactive measures to monitor for potential cases of monkey fever. While typically found in African countries, monkey fever has raised concerns within the district, prompting increased vigilance.

To ensure early detection, travelers arriving at Mangaluru’s international airport and local ports will undergo health screenings. Additionally, a dedicated ambulance has been placed on standby for any emergent cases, and Wenlock Hospital has set aside a special ward with six reserved beds specifically for monkey fever patients.

"We currently have no confirmed cases of monkey fever in Dakshina Kannada, and there are no direct orders from the state government," said Dr. Timmaiah, the District Health Officer. "However, we are taking preventive measures, including continuous screening of incoming passengers. A special meeting is also being planned to discuss future action steps."

Dr. Timmaiah further highlighted the rise in general viral infections following the region's recent shift in weather patterns. "With the decline in rainfall, we are seeing an uptick in viral cases, particularly fevers accompanied by cough, cold, and throat pain, especially in children. Though Mangaluru has experienced mostly sunny weather, occasional rain at night has contributed to the spread of illnesses. It’s crucial for the public to remain vigilant and take preventive measures."

Health officials are urging residents to seek timely medical advice and follow recommended precautions to mitigate the spread of infectious diseases.

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News Network
September 20,2024

Udupi: A vigilant Railway Protection Force (RPF) constable, Aparna K T, demonstrated remarkable presence of mind when she rescued a student who slipped while trying to board a moving train at Udupi Railway Station on Friday morning.

The incident occurred as passenger train number 06602 arrived at the station around 7:30 AM. The student, traveling from Mangaluru to Gokarna, had briefly alighted to purchase snacks. However, as the train began moving, she hurried back towards the carriage with the snacks in hand. In her rush, she lost her footing, slipping dangerously between the platform and the moving train.

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Woman constable Aparna K T was given a cash reward of Rs 5000.

 

Constable Aparna, who had been closely monitoring the passengers, immediately sprang into action. “I saw her running towards the train and alerted everyone by blowing my whistle. She slipped, and her legs were caught between the platform and the train. Without hesitation, I pulled her out with the help of others nearby,” she recalled.

Thanks to Aparna’s quick thinking and the swift response of the railway staff, the train was stopped in time. Railway personnel, including the guard and loco pilot, were immediately informed, and they acted promptly to halt the train using both flag signals and a walkie-talkie.

RPF Inspector Madhusoodhanan PV arrived at the scene shortly after to check on the passenger's condition. The shaken but uninjured student was given water and helped back onto the train to safely continue her journey.

In an added measure of care, the RPF post at Bhatkal was notified to follow up on the passenger’s well-being during her journey. The student, fortunately, reached her destination without further incident.

The heroic rescue was captured on CCTV and has since gone viral on social media, earning widespread praise. In recognition of her bravery, Regional Railway Manager (RRM) Karwar awarded Constable Aparna a cash reward of ₹5,000, commending her quick action that averted a potentially tragic accident.

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