Renewable energy firm ACME Solar Holdings has filed preliminary papers with Sebi to raise Rs 2,200 crore through an initial public offering, according to draft papers filed with the markets regulator. Funds raised through the issue would be used to pay debt and to finance the company’s 200 MW solar power project in Rajasthan and […]
Month: September 2017
IGL steps on the gas, to put in Rs 600 crore for expansion
Indraprastha Gas Ltd will invest Rs 600 crore this fiscal to expand operations, including starting CNG and piped cooking gas retailing in three cities of Haryana. IGL, the sole supplier of CNG to automobiles and piped natural gas (PNG) to households in the national capital and adjoining cities of Noida, Greater Noida and Ghaziabad, is […]
Oil mixed but set for weekly gain on improving market outlook
Oil prices were mixed on Friday, but both Brent and U.S. crude were set to chalk up another weekly gain as investors bet that efforts to cut a global glut are working and that the demand outlook is improving. U.S. crude was down 8 cents at $51.48 a barrel at 0641 GMT, after earlier rising […]
Tech Mahindra, Power Ledger to test MaaS-based electricity solution
IT firm Tech Mahindra, in collaboration with electricity trade platform provider Power Ledger, on Friday announced a series of trials to develop a new mechanism of electricity production through ‘Microgrid-as-a-Service’ (MaaS). MaaS is an integrated platform incubated by Tech Mahindra to create a new model in the electricity market which will enable building owners, campuses, […]
NHAI’s projects to generate approximately 50 Crore man-days employment over next four years
The ongoing and targeted projects of National Highways Authority of India (NHAI) would generate estimated employment of approximately 50 crores man days over the next four years on a seasonal basis. This would be averaging to nearly 12.5 crore man-days yearly from 2018-2022. Of this, about 1.0 crore will be professional man-days, 3.5 crore skilled […]
ADB Expands Clean Energy Project in India with AIIB Co-financing
The Asian Development Bank (ADB) has agreed to finance additional power transmission network components with co-financing from the Asian Infrastructure Investment Bank (AIIB) that will connect with an ADB-financed Green Energy Corridor and Grid Strengthening Project in India. In support of the Indian government’s Green Energy Corridor initiative, ADB’s Board of Directors approved in December […]
Oil steadies as North Iraq, Kurdish pipeline stays open
Oil prices steadied on Thursday, taking a breather after gains spurred by rising tension in northern Iraq following the semi-autonomous Kurdistan region’s vote for independence in a referendum. Brent crude oil was unchanged at $57.90 a barrel by 0850 GMT. It hit a more than two-year high of $59.49 on Tuesday after Monday’s referendum vote […]
RIL outbids rival GAIL to buy its own coal-bed gas until March 2021
Reliance Industries has outbid rivals, including state-owned GAIL India, to buy the entire volume of natural gas from its own coal seam blocks until March 2021. In May, RIL had become the first buyer of gas it produced from its own coal bed methane (CBM) block in Madhya Pradesh after agreeing to pay the highest […]
ONGC may sell IOC, GAIL stakes to fund HPCL acquisition
State-owned Oil and Natural Gas Corp may sell some of its stake in Indian Oil Corp and gas utility GAIL India to part fund its over Rs 32,000 crore acquisition of refiner HPCL, Chairman DK Sarraf said. ONGC holds 13.77 per cent stake in India’s biggest refiner IOC, which at today’s market price is worth […]
Budget airline Thai Lion Air connects Mumbai with Bangkok
Budget carrier Thai Lion Air launched flights connecting Mumbai with Don Mueang International Airport in Bangkok on Thursday, an official said. The inaugurated flight arrived here at 5.40 a.m. Initially, the carrier will operate two flights a week with Boeing 737 aircraft with plans to increase the frequency to thrice a week, said an official […]
Airports Authority of India Released National Register, 2017
The Airports Authority of India (AAI) which is managing 126 airports (including Civil Enclaves) have taken up the onerous task of preparing a comprehensive National Register containing details of all Civil Airports and Airstrips in the country and the work carried out is first of its kind. The National Register 2017 contains details pertaining to […]
India needs to double refining capacity by 2040 to meet fuel demand growth
India needs to double its refining capacity by 2040 to meet rising fuel demand as an expanding middle class buys more passenger vehicles and its economy grows, a top refinery official said on Wednesday. India’s refining capacity must increase to 465 million tonnes by 2040, from about 230 million tonnes currently, and investments are already […]