Steelmaker JVSL finds fault with ally Praxair's gas sales to joint venture.
Economic Times (New Delhi, India), February, 2005
Byline: Suresh Nair
Feb. 17--MUMBAI, India -- A dispute has erupted between partners Jindal Vijayanagar Steel (JVSL) and Praxair, the US-based industrial gas major. JVSL has alleged irregularities in the sale of products from Jindal Praxair Oxygen (JPOCL) to Praxair India (PIPL) -- a wholly owned subsidiary of Praxair and customer of JPOCL.
JPOCL is a 74: 26 joint venture between Praxair and JVSL. Praxair, which has complete management control of JPOCL, runs the world's largest oxygen plant at Bellary in Karnataka. It sells oxygen and other gases such as argon to JVSL's integrated steel making facility.
JVSL has alleged that majority stakeholder Praxair committed significant irregularities and improprieties in relation to concessional pricing...
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