Reliance Infrastructure has entered into a period of exclusivity with Adani Transmission for proposed sale of its integrated business of generation, transmission and distribution of power for Mumbai. In a regulatory filing on Tuesday, Reliance Infrastructure said, “It has entered into a period of exclusivity until January 15, 2018, in relation to discussions for the […]
Month: October 2017
IndiGo says shifting partial operations to IGI Terminal 2 ‘unworkable’
Budget passenger carrier IndiGo has termed the proposal of Delhi International Airport Limited (DIAL), the operator of IGIA here, to shift part of several airlines’ operations from Terminal 1D, as “unworkable”. The airport operator had proposed to shift part of IndiGo, GoAir and SpiceJet’s operations to Terminal 2 (T2) from Terminal 1D (T1D) which will […]
Tripura toughest for gas exploration with best success ratio: Top ONGC official
Despite Tripura being the toughest zone for gas exploration in the world, the success ratio here is the best, a top ONGC official said. The Oil and Natural Gas Corporation has drilled 225 wells in Tripura so far, of which 116 were found to be gas-bearing. “Due to high pressure of gas and unusual formation […]
64 years after Air India’s nationalisation, Tata Group wants to fly its bird back home
The Tata Group, which founded Air India 85 years ago and was then forced to relinquish control, is interested in bidding for the airline put up for sale by the government. If it acquires Air India, it will be 64 years after its nationalisation. The history will come full circle with the move, underlining not […]
Funding required for airport infrastructure to counter growing air traffic: ICRA
Amid growing air traffic, India would need to treble its airports capacity (terminal building capacity) at an estimated capital expenditure (CapEx) of Rs. 2.4 lakh crore in the next ten years, much higher than around Rs. 52,000 crores incurred over the last decade, credit-rating body ICRA opined. The airports infrastructure sector in India is increasingly […]
India, EU stress for connectivity initiatives based on international norms
India and the European Union (EU) today emphasised that connectivity initiatives must be based on universally recognised international norms, transparency and equality, seen as an apparent reference to China’s OBOR project. Prime Minister Narendra Modi after a meeting with Donald Tusk, the president of the European Council, and Jean Claude Juncker, the president of the […]
Inox Wind gets 250 MW project in Gujarat
Wind turbine maker Inox Wind today said it has bagged a 250 MW project in the SECI-II auction. “The company has won 250 MW in the SECI-II auction representing a 25 per cent market share. The bid was won at a fixed price of Rs 2.65/unit for 25 years,” Inox Wind said in a BSE […]
Maharashtra may cut VAT on petrol, diesel, suffer Rs 2,600 cr revenue loss
After Gujarat, the Maharashtra government may opt for a Rs 2 per litre cut in value-added tax (VAT) on petrol and diesel, adding to the losses of the debt-ridden state. BJP-ruled Maharashtra levies 46.52 per cent VAT (47.64 per cent in Mumbai) on petrol, the highest in the country. Moreover, a surcharge of Rs 11 […]
Despite duty cut, Centre’s oil revenue set to rise 13%
Despite the cut in excise duty on petrol and diesel, the Centre can still hope to rake in Rs 2.73 lakh crore from petroleum, oil and lubricants (POL) this year, the Central Board of Excise and Customs (CBEC) has estimated. The reduction will cost the exchequer around Rs13,000 crore during the second half of the […]
Skewed coal stocks to hit power availability and prices
Coal supply across the country is in a dire state with the average stock of six days at power plants. This includes close to 70 power plants with less than three days of coal. In 2016, the average coal stock was close to 28 days during peak demand months. Coal deficit, coupled with low hydro […]
Bringing jet fuel under GST will boost growth: SpiceJet chief at WEF
Ajay Singh, owner of low-cost carrier Spicejet, on Friday, pitched for bringing aviation turbine fuel (ATF) under the ambit of goods and services tax (GST) to lower cost. The move will help bring down fares and boost the aviation sector’s growth, Singh said at the World Economic Forum’s India Economic Summit. Bringing fuel under GST […]
India gets Lowest Wind Tariff of Rs 2.64 per kWh in second Wind Auction of 1000 MW
The wind tariff in India touched lowest level of Rs.2.64 per kWh in the second wind auction conducted by the Solar Energy Corporation of India (SECI) on behalf of Ministry of New & Renewable Energy, Government of India yesterday. The tariff discovered is much lower than first wind auction concluded at Rs. 3.46 per kWh […]