The Expert Appraisal Committee under the Environment Ministry has given “green signal” to Indian Oil Corporation Ltd for setting up a grass root petroleum storage and distribution terminal in Telangana. According to the minutes of the meeting held recently, the proposal involves setting up petroleum storage and distribution terminal comprising 28 tanks with combined capacity […]
Day: February 18, 2019
Opec-plus-oil deal wobbles as Saudi exceeds output cut goals, Russia lags
Saudi Arabia is bearing a greater burden for production cuts, while Russia is nowhere near the reductions it promised. That arrangement can’t last. I know a little bit about standing on one leg; my daughter has encouraged me to learn to water ski. It’s not easy at my age, in England, in winter. OK, I’m […]
Anil Ambani group lenders not to sell pledged shares till September
Promoter entities of the debt-heavy Anil Ambani-led Reliance group have reached an in-principle understanding with a little more than 90 per cent of its lenders. The latter have agreed not to sell pledged shares in the group till September. And, the group informed the lenders that it had appointed investment bankers to sell up to […]
EVI plans investment of Rs 100 crore to set up 20,000 EV charging stations
Electric vehicle charging infrastructure provider EVI Technologies plans to invest around Rs 100 crore in the next one and a half years to set up 20,000 charging stations across the country, a senior company official said. The firm, incubated at the Electropreneur Park funded by the Ministry of Electronics and Information Technology, has also tied […]
AP power discoms want regulator to cut wind power tariff in existing PPAs
Despite being signatories, Andhra Pradesh power utilities have challenged the PPAs of wind power developers in a bid to reduce the agreed preferential tariff in the light of lower prices being quoted by some of these and other developers for the projects awarded through open bidding route in the country. The Southern Power Distribution Company […]
Flight Lieutenant Hina Jaiswal becomes IAF’s first woman flight engineer
Breaking the glass ceiling, Flight Lieutenant Hina Jaiswal has scripted history by becoming the first woman flight engineer to be inducted into the Indian Air Force. Till last year, the Flight Engineer branch was exclusively the men’s domain. On Friday, the Chandigarh-native covered herself with glory by successfully completing the six-month course at the 112 […]
Pawan Hans sale: Shortlisted bidders to soon get final share purchase pact
The final share purchase agreement will be shared soon with shortlisted bidders of Pawan Hans for selling the government and ONGC’s stake in the helicopter service provider, an official said. A meeting of the Alternative Mechanism on strategic disinvestment headed by Finance Minister Arun Jaitley and comprising Civil Aviation Minister Suresh Prabhu would be called […]
AgustaWestland case: Delhi court denies bail to Christian Michel
A Delhi court Saturday dismissed the bail plea of Christian Michel, arrested in connection with an alleged scam in the Rs 3,600-crore AgustaWestland VVIP chopper deal. Special judge Arvind Kumar rejected Michel’s plea in the cases filed by the CBI and the Enforcement Directorate. Michel, extradited from Dubai, was arrested by the Enforcement Directorate (ED) […]
Infrastructure companies eye litigation funding to settle claims
Litigation funding, or monetisation of pending claims through a third party, is finding its feet in India. A common practice globally, the Indian version of the funding comes with a catch. As Indian infrastructure companies struggle with stressed assets and huge pending claims, there is the case of Patel Engineering, which has been successful in […]