Four power producers, including Jindal Power and JSW Energy, are set to supply 1,000 MW power collectively to three south Indian States at a tariff of ₹4.41 per unit for short-term under a pilot scheme to bring back stressed power assets on stream.
Mumbai, 28 August 2019: Essar Shipping Ltd (ESL) today announced that seven of the 12 vessels in its fleet have been recognised by the United States Coast Guard’s Automated Mutual Assistance Vessel Rescue (AMVER) System Programme for their outstanding commitment to safety at sea. The award ceremony was held in Mumbai on 22 August 2019.
Indian commodities conglomerate Essar Group is looking to buy six cargoes of liquefied natural gas (LNG) for delivery from September 2019 to January 2020, two sources said on Wednesday.
ArcelorMittal has offered lenders Rs 4,800 crore for Essar’s 2×600 MW Mahan thermal power project in Madhya Pradesh, surpassing the Essar promoters’ one-time settlement offer of Rs 3,500 crore, a senior PFC official told FE.
The National Company Law Appellate Tribunal (NCLAT) on Thursday asked the NCLT Ahmedabad bench to expeditiously decide on the Essar Steel insolvency case, in which ArcelorMittal has emerged as the highest bidder.
Asserting that the “early harvest” through the Insolvency and Bankruptcy Code (IBC) has been “extremely satisfactory”, Finance Minister Arun Jaitley has said that he expects 12 big cases such as Bhushan Power
Bringing relief to thermal power plants owned by Tata, Adani and Essar groups, the Gujarat government Saturday passed an order to allow pass-through of higher cost of coal to end consumers, a source said.
The lenders of bankrupt Essar Steel on Wednesday told the Ahmedabad bench of the National Company Law Tribunal (NCLT) that the last-minute offer by the company’s promoters to pay Rs 54,389 crore should be dismissed as it is “not maintainable”.
After GAIL (India) and Gujarat Energy Transmission Corporation (GETCO) last week approached the National Company Law Tribunal (NCLT) to recover their dues from Essar Steel, more operational creditors are expected to follow suit this week.
The Supreme Court on Monday extended a lifeline to the three troubled imported-coal-based power plants of Tata, Adani and Essar in Gujarat by allowing the Central Electricity Regulatory Commission (CERC) to amend their power purchase agreements (PPAs) to facilitate pass-through of future fuel price escalation subject to a cap.