Billionaire Gautam Adani’s gas retailing unit is among firms that submitted 400 bids for the 86 areas the Indian government offered in its latest auction for city-gas licenses. Adani Gas Ltd bid for 32 licenses, chief executive officer Rajeev Sharma said on Wednesday, while its joint venture with Indian Oil Corp. (IOC) bid for 20.
Billionaire Gautam Adani’s gas retailing unit is among firms that submitted 400 bids for the 86 areas the Indian government offered in its latest auction for city-gas licenses. Adani Gas Ltd. bid for 32 licenses, Chief Executive Officer Rajeev Sharma said Wednesday, while its joint venture with Indian Oil Corp. bid for 20.
India’s biggest city gas distribution auction ends: Adani largest bidder, eyes 52 cities; check others
Even as RIL-BP JV withdrew from bidding at the last moment, the ninth and biggest round of auction for city gas distribution (CGD) licenses in 86 cities saw over 400 bids with potential investment of Rs 70,000 crore.
The Gujarat government has set up a panel to suggest within two months a rescue plan for three large generation projects belonging to the Tata, Adani and Essar groups in the state, with combined PPA (power purchase agreements) for over 8,000 MW and outstanding debts in excess of Rs 22,000 crore.
Adani-NMPT MOU: Rapid Coal Loading on Rail Wagons at 1 wagon/minute on a 3.60km length Rail Siding possible
Adani owned UPCL, which is operating 2 units of 600 MW thermal power plant at Yellur village, signed and executed a concession agreement with New Mangalore Port Trust (NMPT) for additional land of 4.99 Hectares of NMPT for the purpose of UPCL’s project expansion.
The Gautam Adani-led Adani Group said on Sunday it plans to raise Rs 5,000-6,000 crore of equity through a combination of primary issuances and secondary monetisation of its stake in some of its subsidiaries.
The opening up of private investment in general-purpose wagons (GPWS) by the railways has invoked interest from at least eight big companies. These are from cement, steel, iron ore and aluminium sectors.
At least four bidders have expressed initial interest in buying a controlling stake in Jhabua Power Ltd (JPL), a unit of Avantha Power and Infrastructure, two people aware of the development said.
Adani’s coal-fired power business has reported more heavy losses, prompting the Indian conglomerate to announce it would shift away from using expensive imported coal.
Adani Power today reported narrowing of its consolidated net loss to Rs 667.48 crore in the quarter ended March 2018 on account of lower expenses.