The government has decided to join the arbitration initiated by British oil explorer Cairn Energy plc over a Rs 10,247 crore tax demand and will soon appoint its arbitrator. This follows Cairn, which had on March 10 slapped an arbitration notice against the tax being raised on a 2006 internal business reorganisation, moving The Hague […]
Month: September 2015
Inox Wind bags 50 MW wind power project from GMDC
Energy solutions provider Inox Wind today said it has bagged a 50 MW wind power project in Gujarat from a major minerals and lignite mining company GMDC. “As part of the turnkey order, Inox will supply and install 25 units of its advanced 2MW DFIG 100 rotor dia Wind Turbine Generators (WTGs) for Gujarat Mineral […]
Big tourism boost for Guwahati: Airport gets Rs 1,200-cr revamp, to become a heli hub
In a major boost to the tourism sector in Northeast region, Minister of State for Culture & Tourism (Independent Charge) Dr Mahesh Sharma on Wednesday said that the Guwahati airport is being revamped at an investment of Rs 1,200 crore to improve connectivity in the region. Planning to make Guwahati a hub to provide better […]
Domestic gas price set to drop 18.14% to $4.24 per unit from Oct 1
The price of natural gas from domestic fields would drop by 18% to $4.24/mBtu from October 1. Till now, the price is $5.18/mBtu. The price would be valid for the next six months. The price of domestic natural gas is decided based on a formula approved by Modi-government in October last year, which is linked […]
L&T Construction wins Rs 1,376 cr contracts
Engineering and construction major Larsen & Toubro today said its construction arm has won contracts worth Rs 1,376 crore in power transmission and distribution business in domestic and international markets during this month. “In the domestic market, the Solar Business has bagged multiple orders from a reputed solar power developer for the engineering, procurement and […]
Asian imports of Iran oil rise 10% in August
Asian imports of Iranian oil rose almost 10 per cent from a year ago in August following a landmark agreement on Tehran’s disputed nuclear programme that sets the stage for a significant increase in the OPEC member’s crude shipments next year. Imports by Iran’s four biggest buyers – China, India, Japan and South Korea – […]
China Eastern to sell off 5% stake in loss-making Joy Air
China Eastern Airlines is seeking buyers for its remaining 5 percent stake in loss-making Joy Air, a small domestic airline that has been blighted by safety concerns over its propeller-powered planes. China Eastern is asking for 35 million yuan ($5.51 million) for the stake. In February 2009, it sold a 35 percent stake in the […]
Most of Rs 3.8 lakh crore stuck highways projects roll out on corrective steps: Nitin Gadkari
Corrective steps by the Modi government have led to roll out of majority of the Rs 3.8 lakh crore stuck highways projects, Union Minister Nitin Gadkari said today. Fast-tracking of projects could be made possible because of expediting decision-making process as well as policy interventions, the Road Transport and Highways Minister said. “There were 283 […]
India favours pooling of safety regulators for South Asian region
Faced with the shortage of air safety experts and funding issues, India today mooted the idea of pooling of safety regulators for the South Asian region. At a meeting of cooperative development of operational safety and continuing airworthiness programme for South Asia, Civil Aviation Secretary R N Choubey also asked countries to take advantage of […]
Oil prices rise as tighter U.S. market offsets Asia economy woes
Oil prices edged up on a tightening U.S. market on Tuesday but the outlook remained weak as concerns over Asia’s economic health mounted and production remained high. Shares in commodity trading firms, such as Glencore and Noble Group, were hit hard and a Japanese shipper filed for bankruptcy, in the latest signs that tumbling energy […]
Suzlon completes commissioning of wind power turnkey project
Wind turbine maker Suzlon Energy today said it has completed the commissioning of 100.8 Mw wind power turnkey project for CLP India. The project is located at Tejuva, Jaisalmer in Rajasthan. “The project will provide electricity to over 50,000 homes and curb 0.21 million tonnes of carbon-di-oxide emissions annually. Suzlon will offer operations and maintenance […]
Widening of NH-126 in Maoist hit area to start soon
The much-awaited Rs 277 crore widening work of the 86-km road on NH-326 between Boipariguda in Koraput district and Malkangiri town in Odisha will start soon. The state government entered into an agreement for the project with a Hyderabad-based company on September 14. The project will be completed in the next two years, officials said […]