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.
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.