Creditor banks of Jaiprakash Power Ventures Ltd are seeking bidders to buy a stake of at least 30 percent in the Indian power producer, the majority of which they jointly own, a banker involved in the sale told Reuters on Monday. A document on the website of SBI Capital Markets showed an unidentified creditor group […]
Day: August 28, 2017
L&T Construction secures job orders worth Rs 1,975 cr
L&T Construction, an arm of infrastructure major Larsen and Toubro (L&T), has won orders worth Rs 1,975 crore across business segments. The orders have been secured across the Middle-East for turnkey construction of various sub-stations and cable feeders, the parent company said in a statement today. “The construction arm of L&T has won orders worth […]
Rs 48,000 crore renewable projects in crisis due to tariff revision: CRISIL
As more states take the route of revision of tariffs for renewable energy projects as recent bids have gone ultra low, the sector could see a major shakeup with close to 7 GW under pressure. Rating agency CRISIL expects Rs 48,000 crore worth of project capacity under threat. Many discoms have openly voiced their reservations […]
Oil markets roiled as Harvey hits U.S. petroleum industry
Oil markets were roiled on Monday after Tropical Storm Harvey wreaked havoc along the U.S. Gulf Coast over the weekend, crippling Houston and its port, and knocking out numerous refineries as well as some crude production. U.S. gasoline prices hit two-year highs as massive floods caused by the storm forced refineries in the area to […]
Adani says to start Australian coal mine with own funds
India’s Adani Enterprises said on Monday it will start work in October on its Carmichael coal project in Australia using A$400 million ($317 million) of its own funds, even as it looks to lock in financing for the controversial mine. Adani, which has said previously it needed to borrow under A$2 billion to get the […]
IndiGo to look at GE engines for A320 neo planes: Ghosh
IndiGo will also look at GE engines for its planned 280 A320 neo planes, its President Aditya Ghosh said today amid the airline grounding some of its neo fleet due to the Pratt & Whitney engine issues. Addressing shareholders at the annual general meeting here, he also said the airline expects to have 20 turbo […]
Air India not to be sold to foreign carriers: FDI policy
The Modi government is unlikely to sell Air India to a foreign carrier and has clarified it in the consolidated Foreign Direct Investment policy, released today. It has said that the rule allowing foreign carriers to own up to 49% in Indian carriers do not apply to Air India. “The policy mentioned at para (c) […]