(AA) Pitching India before global investors as a lucrative business destination at the Vibrant Gujarat summit in Gandhinagar, Prime Minister Narendra Modi on Wednesday said that India is “an engine of growth in the global economy, a technological hub for finding solutions, a power house of talented youth and a democracy that delivers”. Highlighting his government’s achievements during the past decade, Mr Modi said, “The world looks at India as an important pillar of stability,” adding that India’s “efforts and hard work make the world more secure and prosperous” and it is a “friend who can be trusted”. At the…
Author: Aruna Sharma
Navratna company ONGC Videsh Ltd. (OVL) has incorporated a wholly owned subsidiary OVL Overseas IFSC Ltd. (OOIL) in GIFT City, Gujarat. This GIFT city entity will function as the Global Treasury Centre to cater to the treasury activities of OVL and its 25 subsidiaries (including step-down subsidiaries) spread across 15 countries. Given the business-friendly regulatory environment in GIFT City, OOIL expects to efficiently consolidate funds available with the group in various countries and raise additional funds needed to achieve the ambitious target of producing 40 Million Metric Tonnes Oil & Oil equivalent (MMToe) by 2040 from overseas assets. Incorporation of…
The 63rd Network Planning Group (NPG) meeting was convened on January 4, 2023 at Vanijya Bhawan, New Delhi chaired by Special Secretary (Logistics), DPIIT, Smt. Sumita Dawra. The meeting witnessed active participation from key Ministries and Departments including Ministry of Road, Transport & Highways (MoRTH), Ministry of Civil Aviation (MoCA), Ministry of Railways (MoR), Ministry of Ports, Shipping and Waterways (MoPSW), Department of Telecommunications (DoT), Ministry of New and Renewable Energy (MNRE), Ministry of Power (MoP), Ministry of Defence and NITI Aayog. During the meeting, NPG discussed three projects pertaining to MoR (1) and MoRTH (2), with an aggregate project…
(FE) Oilmax Energy, a privately-held oil and gas company, plans to spend more than $100 million in the next three years in order to expand its operations, the company’s founder, chairman and managing director Kapil Garg told FE. The company also expects its gas field in Duarmara, Assam, to begin production by September, thus adding to the domestic gas output of the country. “In the next three years, we are looking to spend more than $100 million as capex. So, for the current expansion plans as of now, we are fully funded,” said Garg. Other than Duarmara, the company owns two more…
Coal India Limited (CIL), a Maharatna PSU is committed to sustainable and socially responsible practices. Under its Corporate Social Responsibility (CSR), CIL actively engages in initiatives to uplift the education sector and empower the residents of its mining command areas through it. As incorporation of ICT (Information and Communication Technology) based learning is being increasingly adopted as the modern means of pedagogy today, CIL has entered into a MoU with EdCIL (India) Limited for “Digitizing Education in eleven districts of Jharkhand” on 03.01.2024 at New Delhi. The MoU was signed in the presence of Ms. Rupinder Brar, Additional Secretary, Ministry…
(AU) मुख्यमंत्री पुष्कर सिंह धामी ने शुक्रवार को देहरादून में पांच दिवसीय राज्य स्तरीय युवा महोत्सव का शुभारंभ किया। इस अवसर पर मुख्यमंत्री ने राज्य के विकास खंड कार्यालयों में युवाओं के कौशल विकास के लिए विवेकानंद यूथ कौशल विकास सेल बनाए जाने और युवक मंगल दल/महिला मंगल दल के प्रभावी उपयोग के लिए यथा आवश्यक संसाधन उपलब्ध कराएं जाने की घोषणा की। मुख्यमंत्री ने कहा कि इस वर्ष युवा महोत्सव की थीम यूथ एज़ जॉब क्रिएटर रखी गई है, जो राज्य के युवाओं पर सटीक भी बैठती है। हमारे युवा अब रोजगार पाने के साथ-साथ रोजगार देने वाले भी…
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the signing of Memorandum of Understanding (MoU) between the Ministry of Petroleum & Natural Gas, Government of India and the Ministry of Natural Resources, Republic of Guyana on cooperation in the hydrocarbon sector. Details of the MoU: The proposed MoU covers the complete value chain of hydrocarbon sector including sourcing of crude oil from Guyana, participation of Indian companies in Exploration and Production (E&P) sector of Guyana, cooperation in the areas of crude Oil refining, capacity building, Strengthening bilateral trade, collaboration in natural gas sector, collaboration in…
(FE) In a mega M&A deal in the telecom tower space, Brookfield Asset Management on Friday said that it will acquire 100% stake in American Tower Corporation’s (ATC) India business for $2.5 billion (Rs 21,000 crore), which includes $2 billion (Rs 16,500 crore) enterprise value along side a ‘ticking fee accruing from October 1, 2023. Earlier, Miami-based infrastructure investment group, I Squared Capital was in talks to acquire ATC’s tower assets in India at an enterprise value of around $1.5-$1.75 billion. The acquisition, which Brookfield is doing via its affiliate Data Infrastructure Trust (DIT), will make it the largest telecom tower…
(FE) Swan Energy Limited announced that it has received the formal handover of management control of Reliance Naval and Engineering Limited (RNEL) from the National Company Law Tribunal (NCLT)-appointed Monitoring Committee. “The Monitoring Committee has handed over the management control with the approval of all the Committee of Creditors members and the committee now stands dissolved with effect from January 4, 2024,” the company said in a statement. Swan Energy has set up the board with its Managing Director Nikhil Merchant, Executive Director Paresh Merchant and Bhavik Merchant and Vivek Merchant, among others, as members. SEL will finalise plans to put in place…
(FE) Dharmendra Pradhan, union minister of skill development and entrepreneurship, launched the ‘Kaushal Rath’, a bus providing skills on wheels. The initiative, led by NSDC, aims to provide accessible and hands-on skill training to foster growth and innovation, as per official announcement. These specialized mobile buses are designed to provide skill training and certification to aspiring candidates across Odisha’s Sambalpur, Angul and Deogarh districts, it added. Equipped with new tools, facilities and certified trainers, these buses aim to offer training and certification across course modules including Digital Literacy, Financial Literacy, Retail and Entrepreneurial Skills, amongst others. All these courses can be…