ADB’s financing package includes loans and partial risk guarantees for the power generation facility, as well as for the LNG terminal. The total project cost is approximately $1 billion. “ADB’s partnership with Reliance Power will help Bangladesh scale up its energy infrastructure to sustain and support the country’s economic growth.” Michael Barrow, director-general of ADB’s […]
Month: December 2017
Rs 7,500 crore Bandra-Versova sea link plan cleared
The Maharashtra government today accorded administrative approval to the Versova-Bandra sea link (VBSL) project, eight years after the state cabinet committee on Infrastructure (SCCI) cleared it. In a Government Resolution, the state has pegged the project cost to be around Rs 7,502 crore and its length is estimated to be about 17.17 kms. The SCCI […]
Bhel to renovate ESP package at Kahalgaon plant for Rs 215 Cr
State-owned power equipment maker Bhel said today that it has secured an order worth Rs 215 crore for renovation and modernisation of electrostatic precipitators (ESPs) at Kahalgaon Super Thermal Power Station (STPS) in Bihar. Originally supplied along with the four units (4X210 MW) by Bhel, the ESPs have been in operation for more than 25 […]
Want to make Air India vibrant: Raju
Civil aviation minister Ashok Gajapati Raju today said the government wants to make Air India vibrant for which plans on an ‘alternative mechanism’ was being worked out. The national carrier, entirely funded by government, was making losses and was now in a debt trap due to interest burden. “We want to make Air India a […]
Global airlines’ industry profit to hit $38.4bn in 2018: IATA
The global airlines’ industry is projected to record a higher net profit of USD 38.4 billion in 2018, primarily bolstered by strong demand, industry grouping IATA said today. The International Airport Transport Association (IATA) said the expected net profit is more than USD 34.5 billion projected for this year. The figure for 2017 was revised […]
China temporarily stops funding CPEC road projects over corruption reports
China has decided to temporarily stop funding at least three major road projects in Pakistan, being built as part of the $50 billion China-Pakistan Economic Corridor, following reports of corruption, a decision that has left officials in Islamabad “stunned”, a media report said on Tuesday. The decision by the Chinese government is likely hit over […]
China’s top two banks refuse to fund Adani’s $12.5-bn Carmichael coal mine
China’s two biggest banks said they do not plan to finance a controversial Australian coal mine, in the latest blow to Indian conglomerate Adani Enterprises’ long delayed project. Industrial and Commercial Bank of China (ICBC) and China Construction Bank said in separate statements they were not working on the project, after media recently reported that […]
UDAAN: Rajasthan to connect all districts with air services
The Rajasthan government looks to provide air connectivity to all districts either through its inter-state air services or the central scheme UDAAN, a senior official said. While the Centre is pushing ahead with the ambitious regional air connectivity scheme UDAAN, the Rajasthan government’s intra-state air services initiative has been operational for little over a year. […]
Oil prices rise after Opec, allies agree to extend output cut until 2018
Oil futures rose on Friday after OPEC and other major producers agreed to extend their production curbs in a widely expected move aimed at ending a persistent glut in global supplies. The Organisation of the Petroleum Exporting Countries (Opec) and non-Opec producers led by Russia on Thursday agreed to maintain the output cuts until the […]
Exempt electricity duty to boost investments in state: Assocham to Odisha
Industry body Assocham has requested Odisha government to exempt electricity duty for ferroalloy plants to encourage investment for setting up of metallurgical plants across the mineral-rich state. Metallurgical sector not only provides employment opportunities to unskilled, semi-skilled and skilled people but it also holds the potential to fill state coffers as increase in capacity utilisation […]