Oil regulator PNGRB has terminated GAIL India Ltd’s licence to build a Rs 10,000 crore natural gas pipeline from Surat in Gujarat to Paradip in Odisha, saying the state-owned firm hadn’t started work on the project even after six years. The Petroleum and Natural Gas Regulatory Board (PNGRB) also ordered encashing the company’s entire performance […]
Day: March 15, 2018
INTUC to move Supreme Court on govt decision to let private players in coal
One of the largest trade unions in India has decided to approach the Supreme Court to contest the government’s decision to allow private companies in the coal sector, saying the move will lead to job losses, lower salaries and loss of market share for Coal India. The Indian National Trade Union Congress said it won’t […]
Global oil demand picks up but still lags rising supply – IEA
Global oil demand is expected to pick up this year but supply is growing at a faster pace, leading to a rise in inventories in the first quarter of 2018, the International Energy Agency (IEA) said on Thursday. The IEA raised its forecast for oil demand this year to 99.3 million barrels per day (bpd) […]
Syska eyes up to Rs 5,000 cr turnover in 4-5 years
Home grown Syska group, which has diversified itself into segments ranging from LED-based lighting solutions to personal care products, is aiming to become a Rs 4,000 crore-Rs 5,000 crore company in the next 4 to 5 years, said a top company official. Besides, the company has also plans to go for listing on stock exchanges […]
Power ministry calls up sector honchos to discuss ‘stress’ in supply chain
Battling stress across the supply chain, the power ministry has called a meeting of all leading power sector companies to be represented by their respective chairmen along with finance ministry officials and sector lenders. The meeting comes in the wake increasing insolvent projects in the power sector, tepid demand growth, and coal scarcity. Among the […]
TN expects green energy corridor to expedite investment worth Rs 110 bn
The Tamil Nadu government is in talks with the central government to set up a dedicated Inter-State Green Energy Corridor to transmit the surplus wind energy to energy deficit states, to expedite the investments of around Rs 110 billion in renewable energy sector in the next three years. The net loss of the State discom […]
BHEL commissions 600 MW TPP in Andhra Pradesh
State-run power equipment maker BHEL today announced commissioning of a 600 MW coal-based thermal power plant in Andhra Pradesh. The unit has been commissioned at Rayalaseema Thermal Power Project of Andhra Pradesh Power Generation Corporation (APGENCO) in Cuddapah district, a company statement said. BHEL’s scope of work for the project includes designing, engineering, manufacturing, supply, […]
TN govt to focus on aerospace, defence sectors to get Rs 100 bn investment
The Tamil Nadu government will give special emphasis to establish an Aero Space Park and a defence manufacturing corridor in the state, which is expected to attract around Rs 100 billion investment. The state government will continue to offer structured package assistance for large investments on a case by case basis depending on the investment […]