(PTI) Infrastructure company Larsen & Toubro on Tuesday said the power transmission and distribution business of L&T Construction has bagged significant orders in India and overseas. In Bangladesh, the business has won a turnkey order for design, supply, installation and commissioning of power transmission infrastructure for the 800 MW Rupsha power plant, it said in a statement.An order to build 220kV substations in Nepal has been received, it said, adding that an order to establish 380kV and 230kV transmission line corridors in the Kingdom of Saudi Arabia has also been bagged. On the domestic front, the business has won an order to design and construct a 50 MW Solar Photovoltaic Plant in…
Author: Aruna Sharma
(ET) The global health emergency posed by the spread of the novel coronavirus, is coming to country’s advantage, at least, in the oil sector. India’s oil imports bill is expected to fall by a sharper 10 per cent in FY20 as the increasing spread of coronavirus has depressed the crude oil prices to below $50 a barrel now against a high of over $70 a barrel in September and again in January this year. According to the Oil Ministry’s Petroleum Planning and Analysis Cell (PPAC), the country’s oil imports are projected to fall to 225 million tonnes (mt) in FY 20 against 227 mt in…
(ET) Coal India is likely to produce 600-610 million tonnes and sell 590-600 million tonnes this year, about the same as last year, company executives said. The company needs to raise output by 400 million tonnes to meet its target of 1 billion tonnes by 2024. This requires its compounded annual growth rate to accelerate to 14 per cent from the much slower 3.1 per cent it achieved in the past four years. “This would be a mammoth task, requiring extensive planning and synchronisation by Coal India and various central and state departments including railways. The company will also require speedy environment and forest…
(ET) LONGi Group, China’s solar power major, is looking at the possibility of setting up a production facility in India for which it has already carried out some preliminary preparations, the company’s director told. At present, the solar technology firm has a branch in India, which is mainly engaged in the sales of the module. It has also been in cooperation with companies such as Sumant Sinha-led ReNew Power. “LONGi has been comprehensively assessing the possibility of setting up a production base in India, with some preliminary preparations done. As for further development, we need to think of the international trade context and the domestic market…
(LiveMint) Central and state governments collected Rs.1.05 trillion in Goods and Services Tax (GST) revenue in February, a tad lower than the Rs 1.1 trillion mopped up in the previous month, official data showed. Collections in February represents an 8.3% growth over receipts in the same time a year ago. This is the fourth consecutive month of GST receipts remaining above the ₹1 trillion mark this financial year after collections had shown a contraction in October and November from the comparable period a year ago. The improvement in GST receipts comes in the wake of efforts by Central and state government…
(ET) Indian Oil Corporation Limited is ready to launch BS6 fuel across the nation, especially in Tamil Nadu, from April 1, said chairman Sanjiv Singh. Speaking to the media on the sidelines of the LPG conclave in the city, Singh allayed fears of the price hike expected during the launch of the less polluting fuel. While he did not specify the quantum of the hike, he said the hike would be marginal. “There will be an increase in retail prices of fuel from April 1. The price is expected it to increase by 1% to 1.5%,” he said.Indian Oil officials said with the new…
(PTI) Reliance Industries on Saturday said it has acquired 37.7 per cent stake in textile manufacturer Alok Industries Ltd for Rs 250 crore. Reliance had jointly with JM Financial Asset Reconstruction Co Ltd bid for acquiring Alok Industries that was auctioned under the insolvency and bankruptcy law by lenders to recover their unpaid loans. The Ahmedabad bench of the National Company Law Tribunal (NCLT) had last year approved the joint bid. “Please note that in accordance with the approved Resolution Plan, ALOK has today allotted 83.33 crore equity shares of Re 1 each at a premium of Rs 2 per equity…
(ET) Himachal Pradesh Chief Minister Jai Ram Thakur on Sunday met Union Minister Dharmendra Pradhan and held a discussion regarding the development of Himachal Pradesh.”Met Union Minister for Petroleum and Natural Gas in Delhi today. I discussed with him the topics related to the development of Himachal and looked forward to the cooperation. He has assured all possible help from the Centre,” Thakur tweeted earlier today (roughly translated from Hindi). Pradhan also took to Twitter and wrote that both of them held talks regarding various ongoing oil and gas projects in Himachal Pradesh. “I have assured Chief Minister of all possible efforts towards the all-round development of Himachal Pradesh on behalf…
(BS) The price of non-subsidised liquefied petroleum gas (LPG) cylinder was reduced on Sunday to Rs 805.5 in New Delhi, with effect from March 1. The price of a non-subsidised LPG cylinder was Rs 858.5 earlier. The government gives subsidy for 12 refills of 19 kg cylinder to those to those with annual income of more than Rs 10 lakh. The price of 14.2 kg non-subsidised LPG cylinder in Delhi, Mumbai, Kolkata, and Chennai will be Rs 805.50, Rs 776.50, Rs 839.50, and Rs 826, respectively, from March 1. For the 19 kg commercial cylinder, the new prices will be…
(PTI) Indian Oil Corporation, equity partner in the proposed mega West coast refinery, has held many rounds of talks with the new Maharashtra government and is hopeful of the project coming on-stream, a top company official said. The statement from Indian Oil Chairman Sanjiv Singh comes amidst local media reports that people in the Nanar region, where the USD 60 billion-plus project was originally planned and then shelved following opposition from the Shiv Sena when it was part of the previous BJP government, are demanding the refinery come up in their area now. Shiv Sena leader and Chief Minister Uddhav Thackeray has shelved many…