Daily Archives: July 11, 2018

Bajaj Hindusthan to sell 17.51% stake in group’s power firm LPGCL

Bajaj Hindusthan Sugar plans to sell its entire 17.51 per cent stake in the group firm Lalitpur Power Generation Company Ltd (LPGCL), estimated to be worth Rs 11 billion. The company had invested Rs 7.7 billion in LPGCL and now needs to divest non-core assets as per the debt restructuring scheme approved by the lenders.

Oil falls on trade fears after Trump’s tariff threat

Oil prices fell on Wednesday, with Brent dropping by more than $1 at one point, after U.S. President Donald Trump threatened to levy new trade tariffs on China. The spectre of tariffs on a further $200 billion worth of Chinese goods sent commodities lower along with stock markets, as trade tensions between the world’s two

Tata Power arm to develop 250 MW solar project in Karnataka

Tata Power Renewable Energy (TPREL) has bagged an order from Karnataka to develop 250 MW solar project in the state’s Tumkur district. The project will be set up at Pavagada Solar Park in Tumkur and the energy will be supplied to the state discoms under a power purchase agreement (PPA) valid for 25 years, Tata

IOCL to invest Rs 36.63 billion to lay pipelines in eastern sector

Oil major Indian Oil Corporation Limited (IOCL) will invest Rs 36.63 billion for laying two pipelines originating from Odisha under the aegis of South Eastern Region Pipelines (SERPL). The oil PSU will lay the Paradip – Hyderabad pipeline line (PHPL) to evacuate products like motor spirits, high-speed diesel, kerosene and aviation turbine fuel (ATF) from

Over 3.8 mn register for MP subsidised power, bill waiver scheme in 10 days

Within 10 days of the launch of the Madhya Pradesh government’s subsidised power scheme and outstanding power bill waiver scheme, over 3.8 million people have registered themselves to avail the benefits, an official said on Wednesday. According to the Mukhyamantri Jan Kalyan (Sambal) Yojana 2018 (subsidised power scheme), labourers falling under the unorganised sector in

GMR sans SkyTrax rating disqualified for Philippines airport

GMR group, which is looking to bid for operations and Maintenance contract of Clark International Airport in the Philippines has been disqualified as it does not have required ranking by SkyTrax, an international air transport rating organisation. GMR along with its Philippines partner Megawide Construction Corporation won the EPC contract for the Clark Airport. “We

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