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Friday, November 16, 2018

Daily News Updates In Energy And Infrastructure From EnergyInfraPost.com

EDITOR'S PICK

Reliance Jio and Uber Announce Strategic Partnership

Reliance Jio and Uber Announce Strategic Partnership

Reliance Jio Infocomm Ltd (‘Jio’), the world’s fastest growing digital services company and Uber, the country’s preferred ridesharing app, have announced a strategic partnership aimed at bringing the benefits of Jio Digital Life ecosystem to their users.

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POWER/COAL/MINES/RE

Capacity Building for Integrated Power Development Scheme

Capacity Building for Integrated Power Development Scheme

For capacity building of distribution utility personnel at various levels under Government of India’s priority initiative “Integrated Power Development Scheme” (IPDS) which has a critical role in improving the health of urban power distribution sector , a Memorandum of Understanding (MoU) has been signed today between NTPC Ltd.’s Power Management Institute (NTPC-PMI) and Power Finance Corporation Ltd. (PFC).

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Coal imports decline by 22% to 14 MT in January

Coal imports decline by 22% to 14 MT in January

Coal imports declined by 21.7 percent to 14.31 million tonnes in January as the power utilities did not lift much fuel due to abundant stock available with them.

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Western Coalfields gets green nod for Rs 263 crore expansion project

Western Coalfields gets green nod for Rs 263 crore expansion project

State-run Coal India arm Western Coalfields has received the environment clearance for its Rs 263 crore expansion project in Nagpur district, Maharashtra.

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JSPL to optimise assets, sell off non-core ones

JSPL to optimise assets, sell off non-core ones

Jindal Steel and Power Ltd (JSPL), seeking to reduce its debt and reverse past two years of losses, will commission the blast furnace at its greenfield Odisha plant next month, three years after a Supreme Court order striking down a linked coal mine had stalled the progress of the estimated Rs 35,000-crore project.

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MK Goel appointed as JERC chairperson

MK Goel appointed as JERC chairperson

Former chairman of Power Finance Corp MK Goel has been appointed as chairperson of Joint Electricity Regulatory Commission (JERC) for Goa and Union Territories.

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Havells enters AC, washing machine space with Rs 1,600-cr Lloyd buyout

Havells enters AC, washing machine space with Rs 1,600-cr Lloyd buyout

Havells India Limited, a leading electrical appliances and components company, on Sunday announced that its board has approved the acquisition of Lloyd Consumer Durable Business Division (Lloyd Consumer).

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Vedanta Group Q3 EBIDTA jumps 79% to $882 million

Vedanta Group Q3 EBIDTA jumps 79% to $882 million

Vedanta Resources Group’s operating profit almost doubled to USD 882.3 million for the quarter ended December, while revenue rose 26 per cent to USD 3.06 billion on the back of higher production volumes mainly zinc.

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Electricity regulator's ultimatum to Andhra power discoms on new tariff proposal

Electricity regulator's ultimatum to Andhra power discoms on new tariff proposal

Coming down heavily on the discoms for not filing their tariff proposals on time despite availing three extensions, the Electricity Regulatory Commission (ERC) on Saturday gave an ultimatum to the power utilities to do the job by February 23. 

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JSW Energy’s buyout plans for Bina power plant stuck

JSW Energy’s buyout plans for Bina power plant stuck

JSW Energy Ltd’s plan to buy the 500 mega-watt (MW) Bina thermal power plant from Jaiprakash Power Ventures Ltd may come unstuck as the latter’s lenders have invoked strategic debt restructuring (SDR), according to two people familiar with the discussions.

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State Power Co To Seek Forest Land Land Diversion

State Power Co To Seek Forest Land Land Diversion

The Chhattisgarh State Power Generation Company Ltd (CSPGCL) will seek diversion of forest land of Gidhmuri and Paturia captive Coal Block in Korba district.

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LNJ Bhilwara Group appoints Yes Bank for wind energy portfolio sale

LNJ Bhilwara Group appoints Yes Bank for wind energy portfolio sale

In an indication of growing consolidation in the Indian wind energy sector, Ravi Jhunjhunwala’s LNJ Bhilwara Group has put up its wind energy portfolio for sale and hired Yes Bank Ltd to run the process.

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Subsidy extension unlikely for gas-based power plants  

Subsidy extension unlikely for gas-based power plants  

The government is unlikely to extend the subsidy support scheme for stranded and under-utilised gas-based power stations.

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View: New auction lights the way to Modi's green target, dims coal

View: New auction lights the way to Modi's green target, dims coal

Record low Indian solar tariffs tendered at a groundbreaking auction may catalyze green investments and help tip the balance of new power to renewables and away from fossil fuels.

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Power scenario in India set for major change, India-Ratings assigns ‘AA’ to Rs 10,000 cr UPPCL bond, may light up UDAY in UP

Power scenario in India set for major change, India-Ratings assigns ‘AA’ to Rs 10,000 cr UPPCL bond, may light up UDAY in UP

In a significant step that can change the power scenario in the country and signal the success of the Ujwal Discoms Assurance Yojana (UDAY) in Uttar Pradesh, India Ratings and Research (Ind-Ra) has assigned UP Power Corporation (UPPCL)’s proposed R10,000-crore bond a provisional ‘IND AA(SO)’ rating with a stable outlook.

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Northeast region adopts renewable energy to overcome power crisis

Northeast region adopts renewable energy to overcome power crisis

A 40 kilowatt solar power plant was recently inaugurated in Assam’s Jorhat city with an aim to utilize the energy resources.

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OIL AND GAS

India looks to expand energy ties with Myanmar

India looks to expand energy ties with Myanmar

India plans to sell refined crude oil products to Myanmar as part of New Delhi's efforts to deepen ties with its eastern neighbour, which is expected to see strong demand for fuels as it builds new roads, factories, utilities and airports.

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Oil edges up, but US drilling drags on prices

Oil edges up, but US drilling drags on prices

Oil prices rose on Monday, but gains were minimal as investors gauged whether an increase in US drilling and record stockpiles would undermine efforts by producers to cut output and bring the market into balance. 

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Indian Oil Corporation threatens relook at Rs 52K cr Odisha investment

Indian Oil Corporation threatens relook at Rs 52K cr Odisha investment

State-owned IOC has threatened to reconsider plans to invest Rs 52,000 crore on expansion of Paradip refinery in Odisha and setting up a petrochem project as the state government is withdrawing tax sops.

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LNG Fights a Losing Battle in India as Taxes Weigh on Demand

LNG Fights a Losing Battle in India as Taxes Weigh on Demand

A province governed by India’s Prime Minister Narendra Modi for 13 years is impeding his plans to promote clean energy.

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Indian Oil to invest Rs15,750 crore to grow pipeline network

Indian Oil to invest Rs15,750 crore to grow pipeline network

State-owned Indian Oil Corp. Ltd is set to invest heavily in logistics that will see the bulk of its petroleum product transport go off roads and railway lines into long-distance pipelines.

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Bharat Petroleum may set up petrochemicals unit in Bina

Bharat Petroleum may set up petrochemicals unit in Bina

State-run Bharat Petroleum Corp. Ltd (BPCL) plans to set up a petrochemicals unit at its Bina refinery in Madhya Pradesh as part of its Rs25,000-crore expansion plan for the refinery, two company officials aware of the development said.

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Debt pain of Indian energy giants eases as fuel reforms pay off  

Debt pain of Indian energy giants eases as fuel reforms pay off  

Lower oil prices and the scrapping of fuel subsidies have allowed India’s biggest energy companies to slash borrowings to the lowest in at least eight years.

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Vedanta to invest $10 bn on expanding business across verticals

Vedanta to invest $10 bn on expanding business across verticals

Metals and mining conglomerate Vedanta will invest USD 10 billion in 3-4 years on expanding business across verticals, company's Chairman Anil Agarwal said.

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INFRASTRUCTURE

Niti Aayog nudges Railways to bring all districts under its network

Niti Aayog nudges Railways to bring all districts under its network

Government think-tank Niti Aayog wants the Railways to prepare a plan similar to Pradhan Mantri Gramin Sadak Yojana (PMGSY) and National Highways Development Programme (NHDP) to link districts which are not on rail map.

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FinMin kickstarts listing process of 3 rail PSUs

FinMin kickstarts listing process of 3 rail PSUs

Within three weeks of Budget announcement, the Finance Ministry today started the process of listing three rail PSUs — IRCTC, IRFC and IRCON.

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IRCTC, Ircon, IRFC listing process kickstarted as merchant banker bids invited for IPO

IRCTC, Ircon, IRFC listing process kickstarted as merchant banker bids invited for IPO

The government has kickstarted the process of listing three rail PSUs IRCTC, Ircon and IRFC by seeking initial bids from merchant bankers for their respective IPOs (initial public offer) in just less than three weeks of Finance Minister Arun Jaitley’s announcement regarding the disinvestment of these companies. 

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South Korea to redevelop New Delhi Railway Station: Here’s how world class NDLS will look like

South Korea to redevelop New Delhi Railway Station: Here’s how world class NDLS will look like

Indian Railways’ modernisation plan has taken shape and there are some spectacular overhauls on the cards at the New Delhi Railway Station as South Korean Railways has proposed to redevelop the station into a world class junction at an estimated cost of 10,000 crore. 

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Direct Benefit Transfer leads to Rs 50,000-crore savings for government in 3 years

Direct Benefit Transfer leads to Rs 50,000-crore savings for government in 3 years

Savings due to Direct Benefit Transfer (DBT) over the last three years have touched Rs 50,000 cr as on December 31, 2016, as per latest government figures.

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Suresh Prabhu orders extra goods train for Nashik onion farmers

Suresh Prabhu orders extra goods train for Nashik onion farmers

Thanks to a bumper onion crop this time, the railways will be providing one extra goods train, in addition to existing three, to dispatch onions from Nashik to five destinations. 

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Performance a must for top railways babus as govt starts zonal ratings

Performance a must for top railways babus as govt starts zonal ratings

Eying to maintain quality and improvement in the Indian Railways, the ministry has come out with a novice initiative. The railway board has started rating its 16 zones.

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Railways freight earnings fall, will junk annual target

Railways freight earnings fall, will junk annual target

With earnings from freight at an all time low, the Indian Railways has decided to let go of its annual target of commissioning of tracks as track laying slows down the speed of trains, thus affects the movement of freight.

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In Uttarakhand, Nitin Gadkari sees Davos-like city

In Uttarakhand, Nitin Gadkari sees Davos-like city

Road transport and highways minister Nitin Gadkari has floated an idea of developing a Davos-like city in Auli in Uttarakhand.

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India proposes Kathmandu to Delhi, Kolkata rail links

India proposes Kathmandu to Delhi, Kolkata rail links

India has expressed interest to link Kathmandu with two Indian cities, New Delhi and Kolkata, using direct railway lines in a bid to strengthen cross-border connectivity and facilitate movement of people between the two countries.

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Warm Regards,

Team EnergyInfraPost

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