Led by India, South Asia will continue to be the fastest growing economic area despite new trade tensions in Asia and Pacific region, Asian Development Bank (ADB) said in a new report today.
Prime Minister Narendra Modi today blamed earlier governments, particularly then Congress President Sonia Gandhi, for not fulfilling the promise of electrifying all households by 2009.
The government is looking to sell successfully running public sector infrastructure projects such as power and steel plants to private companies in a bid to boost green-field investment and create fresh capacity.
In line with Government of India’s vision to achieve 100 per cent e-mobility by 2030, Tata Power, India’s largest integrated power company, on Wednesday announced setting-up of three fast charging Electric Vehicle (EV) stations at the Hyderabad campus of leading IT firm Cognizant.
As many as 245 projects have shown time overrun, while cost escalation has been found in 345 cases — out of 1,315 infrastructure projects monitored by the government, Parliament was informed.
The Allahabad High Court on Wednesday refused to stay the Reserve Bank of India’s February circular that had mandated early detection and time-bound resolution of stressed assets, sources said.
With the cost of imported coal touching a six-year high and rupee weakening against the US dollar, power generation companies are witnessing a crisis of sorts, with Essar group shutting down its 1,200-megawatt (MW) power project and the Adani group utilising only part of its installed capacity in Mundra, Gujarat.
As the debt resolution of Essar Steel drags, Bank of Baroda (BoB), Federal Bank, IDBI Bank and Jammu & Kashmir Bank have sold part or all their loans to the Ruias-promoted steel company,
There is no one-solution-fits-all approach to power sector stress: c, Chairman & MD, Power Finance Corp
India’s largest financier to the power sector, Power Finance Corp (PFC), has initiated resolution proceedings against defaulting power projects as per a Reserve Bank of India circular and has received bids for some of those where change of management is being envisaged.
L&T Hydrocarbon Engineering has bagged an onshore EPC contract from HPCL-Mittal Energy for setting up cracker furnaces at their Bathinda Refinery in Punjab.