INDIA: Indo Rama merger approved in principle
Textile company Indo Rama Synthetics India said its board has given an in-principle approval to the plan to merge with unlisted business Indo Rama Petrochemicals Ltd (IRPL).
The planned merger is hoped to save costs, Rama previously said.
IRPL is currently commissioning a 30-megawatt power project for Indo Rama at Butibori, near Nagpur in Maharashtra.
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