11844 stories by IPA Staff
Gujarat Gas Awaits Exclusivity Rights
NEW DELHI: The valuation of Gujarat Gas, the BG Group company on the block, depends on the outcome of the Petroleum and Natural Gas Regulatory Board’s decision on granting exclusivity rights for city gas distribution in its operating areas. PNGRB recently awarded authorisation to the BSE-listed company for city...
Reliance Completes 4.4% Of Announced Buyback
MUMBAI: Reliance Industries (RIL), the country’s biggest company, has completed 4.4% of its announced buyback programme that began in the first week of February. The company has bought back more than 52.6 lakh shares in the last two months, against an announced buyback of 12 crore shares, which equals...
D-6 Output Woes May Pressure Reliance Industry's Q4 Show
NEW DELHI/CHENNAI: Reliance Industries woes on declining production in the gas fields of D6 block are expected to cast a long shadow on its high-margin oil and gas business. Gas production from the fields has been declining continuously. Uncertainty about the D6 gas-fields’ output and the strain on the...
GDF Suez To Take 26% Capacity In LNG Import Facility At Andhra Pradesh Coast
NEW DELHI: French power firm GDF Suez SA will take 26 per cent capacity in the 3.5 million tonne a year floating LNG import facility being set up off the Andhra Pradesh coast. Andhra Pradesh Gas Distribution Corp Ltd, a 50:50 joint venture of GAIL Gas Ltd and Andhra...
Oil Prices Up, Focus On Spanish Bond Sale
SINGAPORE: Oil edged higher in Asian trade today but prices were capped ahead of a Spanish government bond auction amid fears anaemic demand could reignite jitters over the euro zone debt crisis. Prices were supported by renewed concerns over West Asia supply owing to the standoff between key producer...
CEA Team To Undertake Field Visit For Second UMPP In Odisha
KOLKATA/BHUBANESWAR: The site for the second Ultra Mega Power Project (UMPP) in Odisha, to come up in the western part of the state, is expected to be finalized soon. A team of the Central Electricity Authority (CEA) will visit possible sites in Kalahandi and Bolangir districts during April 24-25...
NTPC's Korba Plant Records 8030.297 Million Units Production In 2011-12
KOLKATA/RAIPUR: The damaged ash dam did not distress the power production in the Korba station of the National Thermal Power Corporation (NTPC) as the fiscal 2011-12 ended with a good note. The station produced 18030.297 million units (MUs) of power in the financial year 2011-12 despite most of its...
India Seeks Exclusive N-Clubs' Memberships
NEW DELHI: Three weeks after the prime minister suggested to world leaders at a nuclear summit in Seoul that India should get membership in the world’s four major export control regimes, foreign secretary Ranjan Mathai on Wednesday fleshed out that statement into a detailed case. Addressing a gathering of...
Coal Ministry May Issue Notices To 58 Companies This Week
The Coal Ministry is likely to begin this week the process of issuing show-cause notices to 58 captive coal block holders, including PSUs, which have not started the development work of mines in stipulated time. “The coal ministry is likely to issue show-cause notices to 58 coal block holders,...
Coal Ministry Deals Blow To OPGC's Expansion Plan
KOLKATA/BHUBANESWAR: In a setback to the expansion plan of state owned Odisha Power Generation Corporation (OPGC), the Ministry of Coal has ruled out the possibility of offering tapering coal linkage for the 1,320 MW project at Banharpali near Jharsuguda. The expansion project which involved adding two units of 660...
CIL Board Divided On FSA Scope, Agrees To Abide By Presidential Directive
KOLKATA: Coal India’s board remains divided over fuel supply agreements (FSAs) with private power producers for plants being commissioned after December 2011 although its has agreed to abide by the Presidential Directive to sign agreements with older plants, company sources said. In its meeting last week, discussions about plants...
Colonel Jailed Wrongly, To Be Reinstated
GCM vitiated, charges could not be proved: AFT CHANDIGARH: After having spent a year in jail on conviction over charges which “were never proved beyond doubt”, a Colonel has been honourably acquitted, with the army being directed to reinstate him in service in the post and rank from where...
Defence Preparedness
Action needed to end critical deficiencies by Gurmeet Kanwal The Army Chief’s leaked letter to the Prime Minister and the CAG’s recent report have revealed that the state of defence preparedness is a cause for serious concern. The Chief’s letter has brought into the public domain what has been...
Pak Army Chief Urges Less Spending On Defence
Pakistan’s powerful army chief on Wednesday said he would like to see Pakistan spend less on defence, arguing that national security depended on development as much as on protecting borders. Chief of the Army Staff, General Ashfaq Kayani, said “peaceful co-existence” with arch-rivals India was vital to both countries...
Bombardier To Expand Its Engineering Service Office
CHENNAI/BANGALORE: Bombardier, the Canada-based aircraft manufacturer and world’s third largest commercial aircraft maker, has started an engineering service office (ESO) in Bangalore with 20 engineers. The company, while refusing to share investment details for the facility, said the Bangalore facility will provide the engineering design, structural analysis and stress...
Agni-V, India's First ICBM Test-Fired Successfully
NEW DELHI: India on Thursday test-fired for the first time its most-ambitious strategic missile, the over 5,000-km range Agni-V, in a bid to join the super exclusive ICBM (intercontinental ballistic missile) club that counts just US, Russia, China, France and UK as its members. The solid-fuelled Agni-V, which will...
Ruias in talks to sell $1 billion Aegis BPO
MUMBAI: Diversified conglomerate Essar Group is considering a sale of its billion-dollar business process outsourcing (BPO) company Aegis, after receiving non-binding offers from private equity giants. Bain Capital and Kohlberg Kravis Roberts & Co (KKR), among others, have been in discussions to buy out Aegis, which is the second...
ECB Norms For Power Companies Eased; RBI To Issue Guidelines In 7 Days
New Delhi: Government has allowed power companies, such as NTPC and Reliance Power, to use 40% of the funds raised through external commercial borrowings (ECBs) route for refinancing rupee debt, raised from Indian financial institutions and banks. The rupee refinancing window would be allowed only if the balance 60%...
