Adani Group today announced foray into transport infrastructure with a Rs 1,140-crore highway project won by a consortium led by its holding firm in Chhattisgarh from the National Highways Authority of India (NHAI).
A fresh crisis seems to be brewing for coal-fired power stations in the country as a sharp increase in the price of the dry fuel in prime import market of Indonesia is fast making projects run on overseas coal redundant.
Shareholders of billionaire Anil Ambani-led Reliance Infrastructure Ltd have approved sale of the firm’s Mumbai power business to Adani Transmission Ltd for Rs 18,800 crore.
The Indian conglomerate trying to build one of the world’s largest coal mines has already had its own funding bid for a rail line stymied by the Queensland state government.
The bidding process for Jaypee InfratechBSE 2.38 % has received bids from nearly 20 big names including JSW Group, Adani Group, Sudhir Valia-owned Suraksha Realty, Deutsche Bank and a Chinese company, according to two sources involved in the proceedings.
A 5 million-tonne-per-annum LNG import terminal at Mundra in Gujarat state on the west coast of India, part owned by the Adani Group, will likely be operational in April or May, a senior company official said on Wednesday.
Adani Group, Waaree Group, Vikram Solar and Tata Power Solar are among the top few domestic solar manufacturers who would stand to benefit from the abolition of 5% customs duty on solar tempered glass as announced in the budget.
At least four firms, namely Greenko Group, Tata Power, Adani Group and Torrent Power, have evinced interest in acquiring Central Electricity Supply Utility of Odisha (CESU), said two people aware of the development.
Adani Power, JSW Energy and Tata Power have submitted bids to acquire a majority stake in GMR Infrastructure 1,370-mw power plant in Chhattisgarh. Sources said state-run Neyveli Lignite did not submit its bid for the project. Neyveli had earlier held talks with the lenders for acquiring acontrolling stake in the project.
India’s Adani said on Monday it had cancel Led plans with Downer EDI Ltd to help develop and run its Carmichael coal mine in Australia after failing to secure a cheap government loan for the A$16.5 billion (US$13 billion) project.