State-run ITI Ltd has emerged as the lowest bidder for 50 lakh smart meters quoting a rate of Rs 2,503 per unit, followed by Genus Power and KEONICS in a reverse auction by EESL. Earlier this month, L&T had quoted the lowest price for smart meters at Rs 2,722 per unit, which was 40-50 per […]
Day: October 24, 2017
Cabinet approves mega Rs 7-lakh crore project to develop 83,000 km highways in 5 years
In its efforts to give spending push to infra sector and create more jobs, the Union Cabinet today approved mega highway plan to develop about 83,000 km of roads at an investment of Rs 6.9 lakh crore in next 5 years. According to reports, Finance Minister Arun Jaitley is likely to make an announcement regarding […]
Oil prices inch up, support from drop in southern Iraq exports
Oil prices inched up on Tuesday, getting support from a decline in oil exports from OPEC’s second-biggest producer Iraq and a projected extended fall in U.S. commercial oil stocks. London Brent crude for December delivery was up 10 cents at $57.47 a barrel by 0651 GMT after settling down 38 cents on Monday. U.S. crude […]
Pratt & Whitney inks pact with IndiGo for ATR engine maintenance
Global engine maker Pratt & Whitney (P&W) today said it has entered into an agreement with IndiGo under which it will provide maintenance services to the budget airline’s ATR 72-600 planes’ engine fleet, to be used for regional operations. The two partners signed the pact in August, P&W said in a statement today. The ‘Fleet […]
Saudi Aramco listing on track for 2018, says sovereign wealth fund
Saudi Aramco’s initial public offering is on track to take place next year, Saudi Arabia’s top sovereign wealth fund said on Tuesday. “Everything is on track. 2018 is our target. There is nothing that I know about that can take us off track,” Public Investment Fund Managing Director Yasir al-Rumayyan told a major investment conference […]