Chennai-based Tamilnadu Petroproducts Limited (TPL), an arm of the AM International Group, announced it plans to invest around Rs 435 crore for capacity expansion and modernization. The expansion plans include capacity augmentation of Liner Alkaline Benzene (LAB) division, revamp of caustic soda facilities and setting up a propylene recovery unit (PRU). It said that the […]
Month: March 2021
Sterling and Wilson Solar’s US subsidiary bags Rs 890 crore order
Sterling and Wilson Solar on Wednesday said that its US arm has bagged Rs 890 cr order in the pacific north-west region of the US. “Sterling and Wilson Solar Solutions, Inc (SWSS), the US subsidiary of Sterling and Wilson Solar Limited (SWSL), has signed an order worth USD 121.7 million (Rs 890 crore) in the […]
SpiceJet ties up with Avenue for sales and lease-back of up to 50 aircraft
Budget carrier SpiceJet on Wednesday said it has signed an initial pact with New York-based global investment firm Avenue Capital Group for financing, acquisition and sales & lease-back of up to 50 new aircraft to be ordered by the airline. The memorandum of understanding, signed between the two partners, sets out the next steps and […]
Kalpataru Power Transmission bags new orders worth Rs 625 cr
Kalpataru Power Transmission Ltd (KPTL) on Wednesday said it has secured new orders worth Rs 625 crore in domestic and overseas markets. The company said it has won orders in power transmission and railways business. In a regulatory filing, Kalpataru Power Transmission said it has secured new orders/notification of award of about Rs 625 crore. […]
HPCL acquires balance 50 per cent stake in Chhara LNG Terminal
Hindustan Petroleum Corporation Limited (HPCL) has acquired the balance 50 per cent equity stake in HPCL Shapoorji Energy Private Limited (HSEPL) from SP Ports Private Limited. Post acquisition, HPCL’s stake in HSEPL gets enhanced to 100 per cent, making HSEPL a wholly-owned subsidiary of HPCL. HSEPL is constructing a five million tonnes per annum (MTPA) […]
GE to provide maintenance services for 718-MW plant in Bangladesh
GE on Wednesday said it will be providing maintenance services and a suite of digital solutions for the upcoming 718-megawatt (MW) power plant at Meghnaghat, in Bangladesh. The plant is owned by Reliance Bangladesh LNG & Power Ltd, a joint venture between India’s Reliance Power Limited and Japan’s JERA Co Inc. “GE’s proven track record […]
China’s mega-refineries throttling other Asia oil processors amid pandemic
The rise of China’s mega-refineries was always going to make life tougher for their competitors across Asia. But the fallout from Covid-19 is hastening the impact and accelerating consolidation across the region. A frenzy of refinery building in China is set to make the nation the world’s largest crude processor this year. At the same […]
ADB approves $300 million loan for hydropower plant in Pakistan
The Asian Development Bank (ADB) on Tuesday announced that it has approved a $ 300 million loan to finance the construction of a 300-megawatt hydropower plant in north-western Pakistan. It will help boost clean energy and improve the country’s energy security. The project will be undertaken on the Kunhar river near Balakot city in Khyber […]
Passengers departing from Mumbai airport to continue paying development fees
People flying out of Mumbai will have to continue paying development fees for another year. This process was to end on Wednesday, March 31, but passengers departing from Mumbai’s Chhatrapati Shivaji Maharaj International Airport (CSMIA) will now be paying ₹120 for domestic and ₹720 for international destinations till March 31 next year. The implementing authority, […]
Starting April, Vistara to roll back pay cuts for non-management staff
Vistara will be rolling back pay cuts for a few categories of employees, starting April. These pay cuts were implemented last year due to the Covid-19 pandemic leading to severe financial issues for the aviation industry. An internal email by the airline’s chief executive officer (CEO) Leslie Thng to its employees said that pay cuts […]
DGCA approves 18,843 flights per week from 108 airports for summer schedule
Aviation regulator DGCA on Tuesday said it has approved 18,843 flights per week from 108 airports for the summer schedule, which begins on the last Sunday of March and ends on the last Sunday of October. The number of flights for this year’s summer schedule has been approved keeping in mind that airlines are permitted […]
Indonesia recovers cockpit voice recorder of crashed Sriwijaya Air jet
Indonesia’s transport ministry said on Wednesday it had recovered the cockpit voice recorder (CVR) of a Sriwijaya Air jet that crashed into the Java Sea shortly after take-off on Jan. 9, killing all 62 people on board. A news conference to discuss the find will be held at 1100 local time (0400 GMT), according to […]