Gas Authority of India Limited (GAIL) has offered up to 10 liquefied natural gas (LNG) cargoes for loading in the United States (US) over early 2020 to early 2021, two industry sources said on Thursday. The cargoes are being offered through its Singapore subsidiary on a free-on-board (FOB) basis from the Sabine Pass and Cove […]
Day: December 5, 2019
L&T bags orders worth ₹2,500 crore for its Transmission and Distribution and Transportation business
L&T Construction, an arm of L&T has bagged orders for its Transmission and Distribution and Transportation Infrastructure business. L&T said that these deals were in the range of ₹1,000-2,500 crore. In the power transmission segment, it has bagged a contract to provide off-grid DC solar photovoltaic water pumping systems with standalone lighting systems for farmers […]
Re-negotiation of contracts with renewable energy players discourages investment in sector: WWF-India report
The renegotiation of contracts with renewable energy players is impacting the viability of investments in the sector according to a report by WWF-India. The report titled, “The Rise of Renewables: Are You REDE?” said, “The fall in Renewable Energy (RE) prices, as a result of economies of scale and reverse bidding led to a series […]
Sembcorp to buy out Gayatri Energy’s stake in India venture
Sembcorp Industries (Sembcorp) will buy out Gayatri Energy Ventures Pvt Ltd’s (GEVPL’s) stake in Sembcorp Energy India Ltd (SEIL). The proposed acquisition is expected to be completed by the end of the year. A company statement said Sembcorp Utilities has entered into a non-binding term sheet with its local Indian partner, GEVPL, a wholly-owned subsidiary […]
Chennai Airport’s integrated terminal building to be ready by Sept 2020
The new T2 integrated terminal building at the Chennai airport is expected to be ready by September 2020 to handle international passenger traffic movement, according to CV Deepak, Officiating Airport Director, Airports Authority of India (AAI), Chennai International Airport. The biggest challenge during the construction was that it was carried out in between two terminals […]
OPEC nations grapple with oversupply of oil
The world may be heading for an even greater oversupply of oil, and that possibility — which could drive down fuel and energy prices — is hanging over members of the OPEC cartel as they head into negotiations Thursday. The oil-producing nations will decide whether to stick with production cuts they’ve endured for the past […]
Taking wings! Vistara gets Rs 600-crore boost from promoters
Vistara has received infusion of Rs 600 crore from its promoters — Tata Sons and Singapore Airlines — at a time when the carrier is planning rapid international expansion and domestic yields are under pressure due to a fare war. The airline’s board approved the allotment of 600 million shares of `10 each to the […]
Sembcorp buys remaining stake in Sembcorp Energy India for Rs 406 crore
Singapore-based Sembcorp Industries said on Wednesday that it is taking over complete ownership of its India business unit, Sembcorp Energy India (SEIL), by acquiring its remaining 5.95% stake from Gayatri Projects (GPL) for Rs 406 crore. SEIL has more than 4,300 MW of operational and under-development coal-based and renewable energy power generation assets in the […]
IndiGo says PW engine issue likely to have impact on future capacity
Budget carrier IndiGo has further reduced its capacity guidance for FY20 due to Airbus A320 Neo engine troubles, the airline told investors on Wednesday. The Gurugram-based carrier said its capacity would grow at 22-23% year-on-year in FY20 from 25% announced in October 2019. At the beginning of the financial year, the largest domestic carrier had […]
SC rejects JSPL plea to sell illegally extracted iron ore
The Supreme Court on Tuesday refused to allow Jindal Steel & Power to sell and transport 12 million tonne of illegally-extracted iron ore worth Rs 2,000 crore from Sarda mines in Odisha. A Bench led by Justice S Abdul Nazeer while refusing interim relief said: “Sarda is mined illegally. How can we allow it…just because […]
Gayatri Projects up 5% as subsidiary to sell stake in Sembcorp Energy
Shares of Gayatri Projects hit 5 per cent upper circuit at Rs 73.40 on the BSE on Thursday, after its subsidiary Gayatri Energy Ventures Pte Ltd (GEVPL) signed an agreement to sell the remaining 5.96 per cent stake in Sembcorp Energy India Limited (SEIL) to Sembcorp Utilities for Rs 406 crore. According to Gayatri Projects’ […]
Govt garnered Rs 2.03 trn revenue from Coal India in last 6 fiscals: Joshi
The government has collected Rs 2.03 trillion in revenue from state-owned Coal India in the last six financial years, Parliament was informed on Wednesday. Of the total revenue received, the maximum of Rs 44,826.43 crore was mopped up in 2018-19. “The government has collected Rs 2,03,221.12 crore in revenue from Coal India in the last […]