Steel giant ArcelorMittal has proposed a resolution offer of Rs 4,800 crore to lender of stressed Essar Mahan power project, over 37 percent higher than offered by the promoter Essar Group.
Public sector NLC India Ltd Saturday said a 100-MW unit of its Thermal Power Station-I in Tamil Nadu has been retired as part of its planned phase-out process.
GE Power India said a consortium comprising the company, GE Hydro France, GE Renewable Malaysia and Sinohydro Corporation has bagged electrical and mechanical works order in Malaysia by SEB Power for a total value of approximately Malaysian Ringgit 595 million and USD 159 million.
After three months of decline, short-term power prices increased in September, mainly driven by higher demand and lower generation from renewables, said India Ratings and Research (Ind-Ra) in its report on Tuesday.
Satellite-based broadband services firm Hughes India has bagged an order to the tune of Rs 200 crore for a five-year period from oil marketing firms Indian Oil (IOCL), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL) to upgrade connectivity across their 19,000 retail points, a senior official of the company said.
India has announced that it would extend a USD 310 million loan to Zimbabwe to finance a rehabilitation project for a thermal power plant that would entail upgrading the station and extending its lifespan.
Power firm Adani Transmission has signed an agreement to buy entire stake in KEC International’s Rajasthan-based power transmission arm at an enterprise value of Rs 227.5 crore.
India’s information technology and infrastructure sectors will be central to its journey of becoming a USD 10-trillion economy by 2030, according to a new report released in London.
In a move to push the distribution of LPG connections in rural areas, oil marketing companies (OMCs) Bharat Petroleum, Indian Oil and Hindustan Petroleum on Saturday authorised Common Service Centres to book and distribute gas cylinders.
The US decision to let India keep buying oil from Iran after reimposition of sanctions on the Persian Gulf nation is a reassertion that interests of consuming nations can not be ignored, Oil Minister Dharmendra Pradhan said Saturday.