Monthly Archives: October 2018

Bihar, West Bengal, Telangana, TN to buy power from stressed projects

Under the first pilot scheme for reviving stressed thermal power projects without power sale contracts, four states namely Bihar, West Bengal, Telangana and Tamil Nadu have agreed to procure power for medium term (3 years) from these projects. The ministry of power in April this year launched a pilot scheme for procurement of aggregate power

CIL maintains 652mn tn output aim in FY19; govt’s OFS opens

Coal India Ltd on Wednesday maintained that its production target would be 652 million tonne for fiscal 2018-19, even as the government embarks on an OFS programme to sell 3 per cent stake in the mining behemoth. The Centre’s two-day offer for sale (OFS) at a floor price of Rs 266 a piece opened for

Despite Q3 profit, Airbus cautious on jet delivery target after snags

European planemaker Airbus maintained its key target for jet deliveries on Wednesday, but warned reaching it would be a “greater stretch” after a sequence of industrial problems. The cautious tone on deliveries, which drive revenues and profits, came despite higher than expected third-quarter core earnings at Europe’s largest aerospace group. The maker of jetliners, satellites

IL&FS to withdraw plea by previous board seeking restructuring option

An earlier plea moved by the beleaguered Infrastructure Leasing and Financial Services (IL&FS) for restructuring under the Companies Act will be withdrawn in the coming days. On Wednesday, the National Company Law Tribunal (NCLT) in Mumbai granted permission to IL&FS to withdraw its petition moved under Section 230 of the Companies Act on September 25.

India will need USD 4.5 trillion till 2040 for infra development: Kant

India will need around USD 4.5 trillion till 2040 for development of infrastructure sector in the country, Niti Aayog CEO Amitabh Kant said Wednesday. Kant further said that there is an urgent need to restructure entire existing public private partnership (PPP) framework as there are delays in completion of infrastructure projects due to disputes. “India

Oil rises 1 percent ahead of U.S. sanctions on Iran

Oil prices rose more than 1 percent on Wednesday as markets braced for the imposition of U.S. sanctions on Iran next week and as stock markets clawed back some of their recent losses. Benchmark Brent crude oil was up 80 cents at $76.71 a barrel by 0840 GMT. The contract fell 1.8 percent on Tuesday,