Reliance Infrastructure Ltd, a part of Anil-Ambani-lead Reliance Group, has received the Letter of Award (LoA) from the Airports Authority of India (AAI) for construction of a greenfield airport at Hirasar in Rajkot district of Gujarat. The engineering, procurement and construction (EPC) contract is worth Rs. 648 crore, the company said on Tuesday. The airport […]
Category: Business Line
Business Line
14 ex-directors of IL&FS arm face money laundering charges
IL&FS Group, which operates at least 24 direct subsidiaries, 135 indirect subsidiaries, six joint ventures and four associate companies, is sitting on debt of Rs 94,000 crore The new government-appointed board of IL&FS has charged 14 former directors of group firm IL&FS Financial Services Ltd (IFIN) of facilitating money laundering, sanctioning loans in violation of […]
Coal India’s output up 6.6% so far this fiscal
Coal India Ltd witnessed a 6.6-per cent growth in production at 527.70 million tonnes (mt) so far during this fiscal (April-February), compared with 495.08 mt during the same period last year. Coal offtake by CIL during the first 11 months of the current financial year was up nearly 4.5 per cent at 548.48 mt (525.04 […]
AG&P to invest $1.3 billion in city gas distribution
AG&P (Atlantic, Gulf and Pacific Company of Manila), which has won the rights to create a network and deliver natural gas in 28 districts in India, foresees investments close to $1.3 billion. “Investment by AG&P will be substantial and in a phased manner as construction of the infrastructure gets underway, with a projected investment of […]
Oil exploration will remain a challenge for govts
India’s hydrocarbon space will test the patience and policy consistency of the government of the day in the coming years as the country’s exploration policy enters a transition phase. Life of the New Exploration Licensing Policy (NELP) regime may remain only for the next 10-15 years, as the country’s entire oil and gas exploration as […]
Schlumberger is sole bidder for enhancing production from ONGC’s ageing fields
American oilfield-service company Schlumberger Ltd’s lone bid for boosting production from Oil and Natural Gas Corporation’s (ONGC’s) older oil fields will have to meet certain parameters before getting a final nod. “Schlumberger is the lone bidder for the Geleki field (Assam). This is not the first time we will be working with a single bidder…The […]
Adani ventures into solar-panel retailing
Adani Group’s solar arm, Adani Solar, will enter the retail business of solar panels through channel partners. The company is currently engaged in renewable power generation using solar technology. Adani Solar plans to collaborate with a channel partner in every State to expand its retail footprint across the country. Adani claims to be the only […]
Lead-sheathed underground cables here to stay, says Power Ministry
The Centre has declined to ban Indian power and transmission utilities from using high-voltage power cables containing toxic chemical — lead — while laying the underground transmission lines. The CII had, in December last year, called for the Power Ministry’s intervention as the practice led to environmental degradation and caused health problems. In its response […]
Adani Group’s power SEZ gets Centre’s nod, post norms tweak
Less than two months after amending the power sector guidelines for special economic zones (SEZs) enabling standalone power plants to qualify as SEZs and be eligible for tax sops, the government has approved Adani Power’s request to set up a power sector SEZ in Jharkhand. “Adani Power’s renewed request for a sector-specific SEZ for power […]
High cost of power purchase stifles Discoms across country
State governments are struggling with high costs of power purchase, putting pressure on power distribution companies. The higher costs are due to an increase in price of coal, rail freight, rise in electricity demand, and an increase in short-term purchase costs, among others. According to data compiled by the Ministry of Power, the average cost […]
KSIDC moves to block ‘inexperienced’ Adani arm from airport deal
The Kerala State Industrial Development Corporation Ltd (KSIDC), which has never run an airport, and lost the bid to run the one in Thiruvananthapuram, has sought court intervention to block Adani Enterprises, which placed the winning bid, from taking over operations. It cited, among other things, Adani’s lack of experience in operating airports. Adani Enterprises […]
GMR Hyderabad airport divests stake in flight training academy
GMR Hyderabad International Airport Ltd (GHIAL), a subsidiary of GMR Infrastructure Ltd, has divested its 100 per cent stake in Asia Pacific Flight Training Academy Ltd (APFTAL), a subsidiary, to a third party, for a token consideration. APFTAL is engaged in the business of providing flight training. As per the latest unaudited financial statements for […]