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SINGAPORE: Brent crude oil traded above $125 on Monday as tension over Iran’s nuclear programme supported prices, offsetting an increase in oil exports from Libya and a rise in production by Saudi Arabia. The threat of military action against Iran, the world’s fifth largest oil exporter, has unnerved energy...
NEW DELHI: The Power Ministry is likely to move its proposal to levy 19% duty on imported electricity equipment for large projects to the Cabinet. Earlier, the ministry had withdrawn a proposal in this regard. “We may not make any changes in the proposal and send it to the...
As many as 18 power plants in the country are faced with critical level of coal shortage, Minister of State for Power K C Venugopal informed the Rajya Sabha today. Of the 89 thermal power projects being monitored, 34 had fuel (coal) stock less than seven days and 25...
MUMBAI: Tata Power on Monday synchronised the second unit of its Maithon power project in Jharkhand. With this 525 megawatt (Mw) unit, the company has a total power generation capacity of 5,297 Mw, making it the country’s largest private sector power generating firm. The Maithon project’s first unit was...
State Cabinet Also Clears Rs 500-Crore Package For Development Around Site Housing 2,000-MW Unit CHENNAI: The Tamil Nadu cabinet on Monday gave the nod for the 2,000-Mw Kudankulam Nuclear Power Plant by giving site clearance, which will allow in continuation of construction at the site. The Cabinet headed by...
MUMBAI: Nuclear Power Corporation (NPC) would soon approach Atomic Energy Regulatory Board to load fuel in the first unit, and start sourcing additional investment. The chairman and managing director, S K Jain, of the state-run entity said: “NPC will in the next two months approach Atomic Energy Regulatory Board...
CHENNAI: The Kudankulam Nuclear Power Project’s (KNPP) first 1,000 MW unit will be ready for the atomic energy regulator’s clearance for fuel loading in two months’ time and the Nuclear Power Corporation of India Ltd (NPCIL) is gearing up for it, said a top official. NPCIL chairman and managing...
KOLKATA: Under pressure to step up production, Coal India Ltd (CIL) has sweetened its offers for land acquisition. The new rehabilitation and resettlement (RnR) policy was recently approved by the CIL board. According Mr R. Mohan Das, Director (personnel and IR), in addition to price of land, the Indian...
MUMBAI: In its bid to deepen the equity and debt markets by attracting overseas funds, the Reserve Bank on Monday allowed foreign venture capital investors to invest in securities through private arrangements or purchase from a third party. “It has now been decided to allow foreign venture capital investors...
NEW DELHI: The government, which has extended help to the crisis-ridden power sector by removing duty on imported fuel and opening access to cheap overseas funds, is likely to whittle down the benefit with an impost on imported equipment for mega power projects. A duty of 20.94% will be...