Adani Enterprises Ltd has won the rights to run five of the six airports, the operations of which are being privatized, beating rival bidders by a steep margin and overnight turning into India’s largest airport operator outside government control. The Airports Authority of India (AAI), the current owner and operator of Ahmedabad, Jaipur, Lucknow, Thiruvananthapuram […]
Day: February 26, 2019
State power ministers to debate 24×7 power, poor discom health and UDAY-II today
New Delhi: Supplying 24×7 power to all, poor financial health of state electricity distribution companies (discoms), late payments and a less carbon-intensive economy are some of the issues that are likely to come up at the state power ministers conference today, according to government officials. The meeting of power and renewable energy ministers of states […]
EID Parry in talks with Indian Oil to start Compressed Biogas production
EID Parry, the sugar manufacturing company under Murugappa Group, is in talks with Indian Oil Corporation and other firms to explore opportunities in producing Compressed Biogas (CBG), following the central government’s announcement in October to start 5,000 CBG plants to curb oil imports. It may require a long-term contract with the oil marketing firm and […]
Trump calls on Opec to ‘relax and take it easy’, oil prices tumble
US President Donald Trump resumed his attacks on OPEC, saying the global economy is too fragile to handle a price hike and urging the cartel to “relax and take it easy.” Trump’s war of words with the Organization of Petroleum Exporting Countries punctuated big price swings last year, as he pressured the group to keep […]
Adani wins bid to redevelop Ahmedabad, Trivandrum, three other airports
New Delhi: The Adani Group has emerged as the highest bidder for developing five out of the six airports for which the Airports Authority of India (AAI) has sought bids. The concession period is for 50 years. The airports for which the group has emerged the highest bidder—in terms of revenue per passenger to be […]
Lenders expect resolution of Essar Steel, Bhushan Power by end of March
By the end of next month, lenders expect to close the resolution of at least two names in the Reserve Bank of India’s (RBI’s) first list of major non-performing assets. These two are Essar Steel and Bhushan Power & Steel. Not enough to fulfill the central government’s earlier target of closing the remaining eight cases […]
Congress to put former Chhattisgarh govt’s zero power cut status under lens
Chhattisgarh’s much-publicized zero power cut claim had come under the lens of new Congress government which says it plans to examine the status. The previous Bharatiya Janata Party (BJP) government had showcased the zero power cut claim as one of its biggest feats during its 15-year rule. The then Chief Minister Raman Singh had asserted […]
Jet pilots to stick to roster hours from 1 March; operations to be hit
MUMBAI: Jet Airways’ operations are likely to be hit from next month with its pilots’ union NAG deciding to adhere to the duty roster from 1 March over non- payment of salaries, union sources said on Monday. Members of the National Aviator’s Guild will not fly over and above roster hours from 1 March, they […]
Jet Airways will re-emerge as viable & robust airline, say Naresh Goyal, Etihad CEO
NEW DELHI: Jet Airways and Etihad Airways on Monday said they along with key financial stakeholders are working towards finalisation of bank-led provisional resolution plan for the debt-laden domestic airline. In a joint statement, the two carriers expressed confidence that once the plan is implemented, the Jet Airways would “re-emerge as a viable and robust […]
Fighter jets destroy terror camp across LoC: Report
NEW DELHI: A fleet of 12 Mirage jets conducted a cross-LoC (Line of Control) raid early on Tuesday and destroyed a major terrorist camp, a news report quoting unnamed Indian Air Force officials said. There was no official confirmation so far from India’s defence ministry, but a Twitter post from Congress party chief Rahul Gandhi […]
GVK Power extends rally on stake hike in Mumbai Airport; up 61% in one week
Shares of GVK Power & Infrastructure rallied 16 per cent to Rs 8.59 apiece on the BSE in intra-day trade on Monday, after the company announced that GVK Airport Holdings will acquire an additional 13.5 per cent stake in Mumbai International Airport Ltd (MIAL) from South Africa’s Bidvest Group for Rs 1,247.40 crore ($175 million). […]
Why five airports won by Adani could be a goldmine for the group and AAI
The Adani group has won five out of the six airports being privatised by the Modi government. On Monday when the financial bids were opened, the Adani group outbid its competitors to win Lucknow, Ahmedabad, Trivandrum, Mangalore and Jaipur. The bids for Guwahati airport haven’t yet been opened due to legal reasons. Adani Enterprises’ winning […]