Mahindra Aerospace and Canada’s Viking Air have signed a memorandum of understanding to form a strategic alliance for making smaller aircraft to support regional air connectivity in India. The pact was signed during the ongoing India visit of Canadian Prime Minister, Justin Trudeau, to India. “Under this alliance, Mahindra Aerospace and Viking will work together […]
Month: February 2018
PNC Infra gets Rs 60 cr bonus for early completion of road project
Infrastructure firm PNC Infratech today said it has received an amount of about Rs 60 crore as bonus from the Uttar Pradesh government for early completion a section on Agra-Lucknow expressway. The scheduled date to complete the 56 km Agra to Firozabad section on the highway was January 28, 2018, PNC Infratech Managing Director Yogesh […]
Road contract monetisation: Firms submit bid for toll-operate-transfer plan
As many as four firms have submitted their bids for the first batch of toll-operate-transfer projects, kick-starting the Union government’s road contract monetisation plan. MAIF 2 Investment India 2 Pte Ltd, Singapore, IRB Infrastructure Developers Ltd, Mumbai, Spice Holding I Pte Ltd, Singapore, and a consortium of Roadies Concessions Infrastructure Holland BV, Netherlands & NIIF […]
Malaysia’s Petronas signs first term agreement for LNG supply in India
Malaysian state energy firm Petroliam Nasional Berhad, or Petronas, said on Thursday it has signed its first term agreement to supply liquefied natural gas (LNG) in India. Petronas has signed a sale and purchase agreement to supply LNG to H-Energy Mideast DMCC (HEMD), it said in a statement. The value of the deal and the […]
Oil prices fall on firmer US dollar
Oil prices fell on Thursday, pulled down as a firmer dollar outweighed a report of a decrease in US crude inventories. US West Texas Intermediate (WTI) crude futures were at $61.15 a barrel at 0748 GMT, down 53 cents, or 0.9 percent, from their last settlement. Brent crude futures fell 48 cents, or 0.7 percent, […]
RInfra bags Rs 36.4 billion contract for thermal power plant in TN
Reliance Infrastructure (RInfra) today said it has won a Rs 36.4 billion contract from Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) for work related to Uppur Thermal power project. “RInfra has won a prestigious engineering, procurement and construction (EPC) contract for Rs 36.4 billion from TANGEDCO for the balance of plant (BoP) package and […]
Odisha sanctions 29 roads in LWE hit districts
Odisha government has sanctioned 29 road projects to upgrade connectivity in the left wing extremism affected Malkangiri and Koraput districts, official sources said. The projects at an estimated cost of Rs 350.52 crore were sanctioned in the first governing body meeting of the newly constituted Odisha State Rural Connectivity Project Agency (OSRCPA) held under the […]
State oil refiners see strong margins for 2018
State refiners expect their profit margins to hold their strength this year as demand growth accelerates for fuel products amid a record $93 billion spent on infrastructure and stable crude oil prices, company executives and analysts said. India’s sales of cars and especially motorbikes are forecast to rise rapidly, even as the development of a […]
Adani may sell stake in Australia Carmichael Coal mine amid funding delay
The battle to build one of the world’s biggest coal mines has suffered a fresh setback after Adani Enterprises Ltd. conceded it would fail to meet a March deadline to arrange A$3 billion ($2.3 billion) in financing for the project. The December decision by the Queensland government to veto Adani’s A$900 million funding bid for […]
Will ensure supply of Euro-VI fuel in Delhi by April 1: Centre to SC
The Centre on Wednesday informed the Supreme Court that it will advance by two years the deadline for supply of Euro-VI petrol and diesel and start supplying these in Delhi from April 1, considering the “serious pollution levels” in Delhi and adjoining areas. The government in an affidavit filed by the Ministry of Petroleum and […]
Export credit agencies: Potential partners for Indian infrastructure
Export credit agencies (ECAs) have globally played a significant role in promoting trade and investments by providing insurance and funding. It is important for global infrastructure investors and the Indian government to look at ECAs as a significant enabler of much-needed infrastructure investments in India. This is especially true for new infrastructure projects, or greenfield […]
BHEL bags Rs 1,034 cr order from HPCL
State-run power equipment maker Bharat Heavy Electricals Ltd (BHEL) today said it has bagged a Rs 1,034 crore gas turbine-based captive power plant order from HPCL. In a regulatory filing, BHEL said it has “won a prestigious contract for setting up a gas turbine based captive power plant on lumpsum turnkey (LSTK) basis under International […]