NEW DELHI: Rural Electrification Corporation (REC) has offered to pay hefty charges to prevent its US bondholders from redeeming their bonds or exercise options over “change of control” when the Power Finance Corporation buys out the government stake. To make bondholders accept the revised terms post change of control, REC has offered to pay $15 […]
Day: February 22, 2019
India’s 1st self-made fighter jet, LCA Tejas, formally joins Air Force
Bengaluru: India’s first self-made fighter jet Light Combat Aircraft Tejas or LCA Tejas is finally ready to be used in operations by the Indian Air Force. LCA Tejas received the final operational clearance for induction into the IAF as a fully-weaponised fighter jet. At a special ceremony at the Aero India 2019 – India’s biennial […]
‘Hope to get new squadron of Sukhoi-30 fighter jets soon’: HAL
Bengaluru (Karnataka): Hindustan Aeronautics Limited (HAL) on Thursday said that it has proposed to the Defence Ministry to procure a new squadron of Sukhoi-30 fighter jets. “We have put up a proposal and we hope to get a new squadron of Sukhois (Sukhoi-30 fighter jets) in the future,” HAL Chairman and Managing Director (MD) R […]
Army chief flies in India-made Tejas fighter jet at Aero India show
Bengaluru: In a first, Army chief General Bipin Rawat took off in Tejas fighter jet for a sortie during Aero India 2019 show in Bengaluru on Thursday. General Rawat occupied the seat behind the pilot in the two-seater trainer variant of the Tejas. “It’s a wonderful aircraft. If aircrafts like this get added to the […]
Bengaluru: Home-made ‘Tejas’ to go places literally!
Bengaluru: A day after it was declared combat ready, and General Bipin Rawat described it as a “wonderful aircraft” at the end of a 40-minute sortie, Hindustan Aeronautics Ltd (HAL) said it would explore the $multi-billion global market for exporting the military jet as some enquiries have arrived from countries in South-east Asian region and […]
Bengaluru: Drone Olympics a big draw
Bengaluru: The first ever Drone Olympics held by the ministry of defence to encourage the UAV industry to connect with potential buyers and business partners in the country, concluded on Thursday with Sagar Defence, Drovengers Quad, Team Daksha, Thanos Technologies and the UAS Delhi Technical University walking away with the awards. The applicants were judged […]
BEML inks pact with Lockheed Martin
Bengaluru: Opening up new avenues for collaboration , defence public sector unit BEML Ltd on Thursday entered into a partnership with US defence major Lockheed Martin Aeronautics Company during the ongoing Aero India 2019. The ‘Certificate of Partnership’ was signed by BEML Chairman and Managing Director Deepak Kumar Hota and Lockheed Martin’s Vice President (Business […]
Visakhapatnam: Harnessing power tough, says Gitam chief
Visakhapatnam: India’s power needs continue to grow due to modernisation and economic growth, but the absence of a distribution system without storage techniques means that the country will face big challenges in the coming years, observed Gitam president M. Sribharath on Thursday. Delivering a key note address during a national-level workshop on “Transition of Power […]
Gandhipuram to be key station in coal area
Kothagudem: Gandhipuram Railway station in Karepalli mandal will be made a key junction after completion of Kovvur-Bhadrachalam Road railway line. The Union Railway Ministry is very particular on the proposals sent by Telangana on providing railwat circuit connecting all SCCL mining areas. SCCL is ready to extend all assistance to the railway circuit of coal […]
Crisil sees gas demand rising by 3.5 per cent annually till FY23
Mumbai: Gas demand is expected to post a 3.5 per cent CAGR between 2018 and 2023 fiscals to 191-193 MMSCMD mainly on the back of the incremental demand expected to come from the fertiliser and city gas distribution (CGD) sectors, says a survey. According to Crisil, the conversion of naphtha-based urea plants, commissioning of new […]
Boeing to partner with HAL, Mahindra for manufacturing F/A-18 Super Hornet fighters
Bengaluru: Aerospace major Boeing on Thursday announced a public-private partnership with government-owned Hindustan Aeronautics Limited (HAL) and diversified Indian multinational Mahindra to produce next-generation F/A-18 Super Hornet fighters in a new ‘factory-of-the-future’ in India. Sunil Velagapudi, Acting President of Boeing India, presented company plans for ‘Make in India’ and offered advanced capabilities to Indian armed […]
Jet Airways rescue failure could lead to a Kingfisher-like situation for banks
For Jet Airways India Ltd., it’s always only about one rupee. As I wrote last month, the troubled full-service carrier needed to garner an additional 1 rupee (1.4 cents) per available seat kilometer to make up for its cost disadvantage against no-frills rivals. Cutthroat price competition denied it that opportunity, and now banks are picking […]