French energy major Total SA is in talks to acquire up to 50% stake in Adani’s Gujarat LNG (liquefied natural gas) projects and in an under-construction LPG import facility in Odisha, the PTI reported citing sources. Adani group, which owns the crucial downstream infrastructure in India, could be a good fit for Total SA, which […]
Day: October 15, 2018
Big relief for IL&FS and its 348 subsidiaries: NCLAT stays proceedings against company over default
In a big relief to crisis-hit Infrastructure Leasing and Financial Services (IL&FS), the National Company Law Appellate Tribunal (NCLAT) on Monday stayed all legal proceedings against the company and its 348 subsidiaries over any past or future loan defaults ’till further order’. The company may have faced 70-80 legal suits had the moratorium not been […]
Crude oil storage tanks by Punj Lloyd enter ‘Malaysia Book of Records’
Punj Lloyd-designed crude oil storage tanks for Petronas have made it to the listed in the Malaysia Book of Records. Diversified EPC conglomerate Punj Lloyd was awarded a contract worth Rs 35.15 billion (about $581 million) for the storage tank project from a subsidiary of Petroliam Nasional Berhad (Petronas) group. The order entailed construction of […]
Delhi-Meerut Expressway: New 8-km stretch between UP Gate and Vijay Nagar likely to open by March 2019
Delhi-Meerut Expressway: The 8 kilometre long stretch of the Delhi-Meerut Expressway from UP Gate to Vijay Nagar is likely to be opened by the month of March next year. The stretch from UP Gate to Vijay Nagar is a part of the 20-km long highway between UP Gate and Dasna, that the National Highways Authority […]
IMF should evaluate CPEC projects objectively while granting bailout package to Pakistan: China
As cash-strapped Pakistan approached the IMF for a bailout agreeing to share the details of huge Chinese loans obtained for the CPEC, a wary China on Monday said the global lender should “objectively and professionally” evaluate its investments and ensure that any financial package does not affect close ties between Beijing and Islamabad. Pakistan Finance […]
India hopes to finalise partners for strategic oil reserves within a year
India hopes to forge partnerships with private players to build out its strategic petroleum reserves within the coming year, the head of Indian Strategic Petroleum Reserves Ltd (ISPRL) said on Monday. India’s government approved two strategic petroleum reserve (SPR) sites with a total capacity of 6.5 million tonnes in June. H. Ahuja, the chief executive […]
India to achieve 76% of renewable energy target by 2022: Wood Mackenzie
India may achieve about 76 percent of the target of having 175 gigawatts of renewable power generation capacity by the scheduled date of 2022 as it faces myriad challenges, Wood Mackenzie said Monday. India is targetting 100 GW of solar capacity and 75 GW of wind power by 2022. “Even with significant cost declines, Wood […]
Interesting eco-friendly move! 150-km national highway stretch to be built from waste materials
Imagine a national highway built from waste materials! If the Modi government is able to see this through, the project will be an interesting infrastructure initiative for sure! In a step towards environment conservation, a pilot project to build approximately a 150-km of national highway using different types of waste materials such as plastic and […]
Saudi, Iraq to India’s rescue, to make up for oil shortfall from Iran
Indian oil companies like IOC have optional volumes built in their annual crude oil purchase contracts with suppliers like Saudi Arabia and Iraq that will be more than enough to make up for any shortfall in supplies from sanctions-hit Iran, senior officials said Monday. India had contracted to import about 25 million tonnes of crude […]