In a bid to utilise the provisions of the Indus Waters Treaty to the full, India is planning speedy construction of eight hydroelectric projects in Jammu and Kashmir. They will have a total installed capacity of 6,352 MW at a projected cost of Rs 56,700 crore (about $9 billion). These projects are Sawalkote (1,856 MW), […]
Month: July 2017
Govt may lease out infrastructure projects to private operators: Niti CEO
The government needs to exit infrastructure projects and even look at handing over jails, schools and colleges to the private sector as happens to be the case in countries like Canada and Australia, NITI Aayog CEO Amitabh Kant said today. At the same time, he was highly critical of India’s private sector, terming it as […]
NCLT appoints IPR for insolvency of Nagarjuna Oil Corporation
The National Company Law Tribunal’s (NCLT) Chennai bench has appointed an Insolvency Resolution Professional (IRP) for Nagarjuna Oil Corporation (NOCL) based on an application filed by one of its creditors, the company informed BSE on Wednesday. The insolvency petition was filed under the Insolvency and Bankruptcy Code, 2016. Hyderabad-based Nagarjuna Oil Refinery (NORL) holds 46.78 […]
DGCA calls on airlines to carry ‘Hindi’ newspapers on board
The Directorate General of Civil Aviation (DGCA) has issued an advisory to airlines directing them to carry Hindi newspapers and magazines. The notice has been issued to ensure that reading material in both English and Hindi languages are offered to the passengers. “Not providing Hindi reading material on board is against Indian government’s policy for […]
Saudi Arabia hires Goldman for Riyadh airport stake sale – sources
Saudi Arabia has hired Goldman Sachs to manage the sale of a stake in Riyadh airport, the first major privatisation of an airport in the kingdom, three sources familiar with the matter said. The Saudi Civil Aviation Holding plans to sell a minority stake in Riyadh’s King Khalid International Airport, the sources said, without providing […]
IIM Lucknow signs MoU with HPCL to promote energy start-ups
Indian Institute of Management, Lucknow (IIM-L) and Hindustan Petroleum Corporation Limited (HPCL) have signed a Memorandum of Understanding (MoU) for incubating innovative ideas and business start-ups in the domestic energy sector. Under the tie-up, the selected start-ups would be provided with seed funding and incubated at IIM-L Enterprise Incubation Centre (L-INCUBATOR). The MoU was signed […]
Welspun Enterprises to buy 49% stake in 2 NHAI road projects from MBL Group
Infrastructure firm Welspun Enterprises Ltd (WEL) today announced acquisition of 49 per cent stake in two road projects of NHAI from MBL Group for Rs 23 crore. The company also said that its board has approved the proposal of its subsidiary – Welspun Financial Services Limited (WFSL) – to apply to RBI for NBFC licence. […]
Dassault Systemes says its deal with Boeing is the biggest in its history
French industrial software company Dassault Systemes announced today it has reached a deal with US aerospace giant to modernise its production system, in what it said was its biggest ever contract. “Boeing will expand the deployment of products developed by Dassault Systemes,” the company said in a statement, confirming information published by French newspaper Le […]
HPCL to retain its brand identity post ONGC deal, says Pradhan
State-run Hindustan Petroleum Corporation (HPCL) will retain its cultural uniqueness and brand identity even after the strategic sale of 51.11 per cent government equity in the company to the Oil and Natural Gas Corporation (ONGC), Petroleum Minister Dharmendra Pradhan informed the Lok Sabha on Monday. The Cabinet Committee on Economic Affairs had given its in-principle […]
Coal India invites power producers for linkage auction
State-run Coal India Ltd (CIL) has invited applications from independent power producers to take part in the auction of coal linkages under the Scheme for Harnessing and Allocating Koyala Transparently in India (Shakti), a notice said on Monday. The miner asked “interested entities” to register on the website of auction firm MSTC Ltd “on or […]
IndiGo, Jet introduce additional flights to Doha, Mumbai from Kozhikode
IndiGo and Jet Airways have introduced additional flights to Doha and Mumbai on a daily basis from Calicut International airport. According to a release from the Director of Calicut Airport today, IndiGo Airlines’ flight would leave Calicut at 12.10 hrs to Doha while it would arrive at Calicut 10.35 hrs in the return direction each […]
Oil prices dip as prospect of deeper OPEC output cut dims
Oil slipped to one-week lows Monday, as several OPEC and non-OPEC ministers met to discuss a pact to curb oil output but the prospect of the group delivering deeper cuts grew more distant. Brent September crude futures fell 18 cents on the day to $47.88 a barrel by 0850 GMT. The price fell 2.5 percent […]