ACME Solar has been granted, through international competitive bidding, a 250-megawatt (Mw) solar power project within the 750-Mwac Rewa Ultra Mega Solar Park (solar park) in the Rewa district of Madhya Pradesh. IFC plans to invest up to $50 million in the company, besides helping it mobilise $100 million. The estimated project cost is around […]
Month: August 2017
10th National Coal Wage agreement likely to be signed today
The 10th National Coal Wage Agreement is likely to be signed today at the final drafting committee meeting of the Joint Bipartite Committee for the Coal Industry. The pay revision will be applicable to employees of Coal India and Singareni Collieries Company Limited. The meeting is being held between the trade unions and CIL officials […]
NTPC signs Rs 3,000 cr term loan agreement with ICICI Bank
State-owned NTPC today said it has signed a term loan agreement for Rs 3,000 crore with ICICI Bank for partially funding its capital expenditure. “A term loan agreement for Rs 3,000 crore was signed with ICICI Bank Ltd on August 29,” NTPC said in a statement. The loan which has a door-to-door tenure of 15 […]
Inox Wind bags 100 MW project from Adani Green Energy
Wind turbine maker Inox Wind today said it had bagged an order from Adani Green Energy to develop a 100 MW wind power project in Gujarat. “The company has closed a deal for developing a 100 MW wind power project for Adani Green Energy, a part of the Adani group at Kutch in Gujarat,” Inox […]
Second auction of wind power projects: Tariff tumbles to Rs 3.42 a unit
Six months after the first auction of projects, the second one has seen wind power tariff falling to a record low of Rs 3.42 per unit. The three companies that have qualified in the bidding, held by Tamil Nadu for 500 Mw of wind power projects, would now set up 900 Mw of wind power […]
No relief: Government rules out excise duty cut on petrol and diesel
Oil Minister Dharmendra Pradhan has ruled out a reduction in excise duty to bring relief to petrol and diesel consumers after prices sharply rose in the past two months. Petrol and diesel prices have risen Rs 6.03/litre and Rs 3.68/litre respectively since July 1 in Delhi. Petrol is priced at Rs 69.12/litre and diesel Rs […]
MRPL delays full start-up of coker due to tech snag: sources
Mangalore Refinery and Petrochemicals Ltd has delayed full-scale start-up of a 3 million-tonne-a-year coker due to technical snag, two company sources said. MRPL had shut the coker, a 60,000-barrels-per-day crude unit, a diesel hydro treater and a hydrocracker in phases at its 300,000-bpd refinery in Southern India from the second week of August, its spokesman […]
Bharat Road IPO price band at Rs 195-205; eyes Rs 600 cr
Bharat Road Network, a Srei Infrastructure Finance initiative, today fixed a price band of Rs 195-205 per equity share for its initial public offer through which it aims to raise Rs 600 crore. The IPO will open for public subscription from September 6-8. The company said in a statement that it “will be launching its […]
Jaitley hints at expeditious decision on AI stake sale
Finance Minister Arun Jaitley today indicated that an expeditious decision would be taken on Air India disinvestment, with at least two parties having formally expressed interest in buying stake in the national carrier. A group of ministers, headed by Jaitley, is working on the modalities of the strategic disinvestment of debt-laden Air India, which has […]
One Kudankulam n-power unit restarts generation
The first 1,000 MW atomic power unit at the Kudankulam Nuclear Power Project (KNPP) restarted generation after completion of refuelling on Tuesday, said an official. “The first 1,000 MW atomic power unit was synchronised with the grid between 6.30 a.m and 7 a.m. today (Tuesday). The power generation is around 300 MW,” the official told […]
No new roads until clearance secured for all due projects: Nitin Gadkari
New road projects will be launched only after securing all due clearances so that they are not held up, Union Road Transport and Shipping Minister Nitin Gadkari said here on Tuesday. “Infrastructure projects will not get stuck now as all future road projects will be inaugurated only after getting all due clearances first such as […]
IDBI takes Lanco Infratech to NCLT
On August 9, 2017, the Hyderabad bench of the National Company Law Tribunal (NCLT) approved the insolvency proceedings against Lanco Infratech following an application by IDBI Bank under the Insolvency and Bankruptcy Code (IBC). The tribunal has appointed Savan Godiawala as the interim resolution professional (IRP) and posted the case to August 31. Lanco Infratech […]