Approval for B.H.P. plans
(N.Z. Press Assn—Copyright) MELBOURNE
The directors of the Broken Hill Proprietary Company, Ltd, have given approval for at least one of the company’s planned investments in Saudi Arabia.
Company executives will fly to Arabia in April for discussions with the Government on the proposed joint venture ferro-alloy development.
The latest copy of the company’s newsletter says that a feasibility study of the project has been completed. During the visit further discussions will be held on the possible Saudi Arabian rolling mill development.
The key to B.H.P.’s interest in Saudi Arabia is the ready supply of natural gas in that country. The gas is burnt as a waste product. B.H.P. began negotiations with Saudi Arabia when the company’s chairman (Sir lan McLennan) visited the country last May. In September B.H.P. signed letters of intent with a Saudi Arabian company, Petromin.
Millaquin “don't sell”
The Millaquin Sugar Company, Ltd, seems certain to reject the Bundaberg Sugar Company, Ltd’s, take-over offer of about s3sm. The directors of Millaquin avoided an outright rejection statement but strongly recommended shareholders not to sell their shares. 1
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Bibliographic details
Press, Volume CXV, Issue 33803, 27 March 1975, Page 21
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184Approval for B.H.P. plans Press, Volume CXV, Issue 33803, 27 March 1975, Page 21
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