Business News

• HUL plans to demerge FMCG exports biz
• Whitebread to invest Rs. 535 crore in India
• ONGC to start KG basin production

HUL plans to demerge FMCG exports biz

Hindustan Unilever Ltd (HUL) on Tuesday said it will seek shareholders' approval to transfer certain assets, liabilities and properties of FMCG (fast moving consumer goods) exports business division of the company to Unilever India Exports Ltd

Whitebread to invest Rs. 535 crore in India

UKbased hospitality firm Whitbread Plc. on Tuesday said it will invest £75 million (over `535 crore) in India by 2020 to fund its hotels business in the country.

The company, which owns and runs two `Premier Inn' hotels in India, has plans to operate over 80 properties in the 10 years. “Whitbread has earmarked an investment of £75 million for the next 10 years with a plan to operate over 80 properties in India”, Premier Inn India Pvt. Ltd director (brand and operations) Shwetank Singh said.

ONGC to start KG basin production

Staterun Oil and Natural Gas Corp. Ltd (ONGC) is all set to start production of natural gas and oil from its offshore blocks, G1 and GS15, in the KG basin by month end and is awaiting a nod from the Prime Minister's Office for formal inauguration, sources said.

As this is the first offshore block of the public sector unit in the Krishna Godavari basin being put into production, it is apt for Prime Minister to inaugurate the facility, a senior official, who did not want to be quoted