World Bank aids Russian oil projectIn one of the biggest...

BUSINESS DIGEST

April 24, 1993

World Bank aids Russian oil project

In one of the biggest Western efforts to assist Russia's oil industry, the World Bank announced yesterday that it had reached an agreement to help finance a $1 billion project to increase Russia's oil output.

The World Bank said it would provide more than $500 million in loans for the plan, which aims to boost output by $1.5 billion a year by reopening 1,200 oil wells that have been closed because of a lack of spare parts, inadequate maintenance and other problems.

Auto sales climb in mid-April

Car sales continued to strengthen in mid-April, helping domestic automakers to report that their overall vehicle sales rose a healthy 19.5 percent during the period. The 16.3 percent advance in mid-April reported yesterday followed gains of 10 percent and 8 percent in early April and late March.

CSX nears pact to cut Md. crews

CSX Transportation Inc. said it reached a tentative agreement with a union to reduce the crews on its Maryland-area trains to two workers from three. The Jacksonville, Fla.-based company said the United Transportation Union had agreed to eliminate brakemen on all former Chesapeake & Ohio and Baltimore & Ohio lines. A company spokesman said 3,500 workers would be affected by the agreement, but that no details had been worked out.

No munitions at old Elkton plant

A former munitions plant at a Thiokol Corp. industrial park in Elkton, which is under investigation for ground water pollution, contains no buried ammunition, officials said. Officials with the U.S. Army Corps of Engineers and the state Department of the Environment said no testing was done there, no firing range was on the site and no buried munitions were found.

Sondheim interim head of GBC

Walter Sondheim, former head of Baltimore's leading economic development agency, has been named interim president of the Greater Baltimore Committee, a private-sector economic development group led by heads of the region's major companies. Mr. Sondheim replaced Robert Keller, who resigned last week to take a similar job in Detroit after 11 years at GBC.

Potomac Edison seeks 2% rate rise

The Potomac Edison Co. has asked regulators for a 2 percent rate increase. Residential customers of the Hagerstown-based utility who use 1,000 kilowatt-hours of electricity each month would pay $64.88, compared with a current $63.71, if the state approved the increases. Public Service Commission hearings are scheduled for June 2.

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