Russian oil firm Rosneft, the biggest foreign investor in India’s energy sector, Friday criticised taxation policy in the country saying it was a major hurdle in its expansion plans. Rosneft and its partners had in August last year completed a USD 12.9-billion acquisition of Essar Oil to enter the world’s fastest-growing energy market, but have […]
Day: October 5, 2018
CARE Ratings reaffirms stable outlook credit rating of A- for Jindal Power
CARE Ratings has reaffirmed stable outlook credit rating for Jindal Power, a subsidiary of Jindal Steel and Power Ltd (JSPL). “CARE has reaffirmed stable outlook credit rating of A- (Single A minus) to Jindal Power which operates the 3,400 MW OP Jindal Super Thermal Power Plant at Tamnar, Chhattisgarh,” JSPL said in a statement Friday. […]
India, Russia sign pact to implement new civil nuclear projects
India and Russia on Friday signed a document for cooperation to implement new nuclear power project (NPP). The document was signed following the discussions between Indian Prime Minister Narendra Modi and Russian President Vladimir Putin during the 19th India-Russia Annual Bilateral Summit in New Delhi. The document called an ‘Action Plan for Prioritisation and Implementation […]
Infrastructure companies need to work on innovative instrument to attract global funds, says Suresh Prabhu
Stating that there is no dearth of funds, Commerce and Industry Minister Suresh Prabhu Friday said there is a need to work on innovative instrument and structure to attract global money for investment in infrastructure sector. The government is in talks with various global funds to sell India growth story, he said. “I have talked […]
Dwarka Expressway: NHAI to start work on Gurgaon section of the much-delayed project soon
The much-delayed Dwarka Expressway project will be now taken up by the National Highways Authority of India (NHAI) this November. The expressway project has been caught in an unending loop of delays over the last decade. According to a TOI report, the NHAI is ready to start work on the expressway’s Haryana section and the […]
Kannur International airport to be commissioned on December 9
Kannur International Airport, the second greenfield airport set up under the public-private partnership (PPP) model, near Mattannur in Kannur district would be inaugurated on December 9. The date for the inauguration was fixed as the Director General of Civil Aviation has accorded commercial flight operation licence to the airport, a release from the office of […]
MPUVN rooftop solar gets lowest ever tariff of Rs 1.38 per unit
Madhya Pradesh Urja Vikas Nigam (MPUVN) Friday announced that it has achieved historic low tariff of Rs 1.38 per unit for central government buildings in its RESCO II rooftop solar tender, an official statement said. State government medical colleges, also a beneficiary in the tender, have got a rate of Rs 1.63 per unit for […]
No instant fix to the IL&FS mess: Another $4.6-mn debt payment default
Infrastructure Leasing & Financial Services Ltd. is missing more debt obligations, even as the Indian government pledged to prevent further defaults, underscoring the challenges its new board faces in fixing the firm’s mounting debt problems. IL&FS failed to service principal and interest on loans from banks, inter-corporate deposit and commercial papers totaling 339 million rupees […]
Oil rises ahead of U.S. Iran sanctions, but outlook for 2019 less certain
Oil prices rose on Friday as traders anticipated a tighter market due to U.S. sanctions against Iran’s crude exports, which are set to start next month. International benchmark Brent crude oil futures were at $85.05 per barrel at 0653 GMT, up 47 cents, or 0.6 percent from their last close. U.S. West Texas Intermediate (WTI) […]
Petrochemicals set to account for a third of global oil demand growth: IEA
Petrochemicals are set to account for more than a third of the growth in world oil demand to 2030, and almost half the growth to 2050, adding nearly seven million barrels of oil a day by then, the International Energy Agency (IEA) said on Friday. This means oil demand growth is shifting to petrochemicals, away […]
Say goodbye to boarding passes at airports! Domestic passengers to get paperless entry with new technology
Soon, you will no longer need a boarding pass to board a domestic flight in India! In a bid to provide paperless entry into airports for domestic flights, the government has zeroed in on facial recognition system, which will be used as biometric identification for air passengers. According to a TOI report, this is likely […]