Essar Steel’s insolvency resolutionprocess is poised at a crucial juncture with fresh bids likely to be invited for the steel company, but the Tata and Vedanta groups are unlikely to join the bidding fray.
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.
The Congress recently alleged that the BJP government in Gujarat had let four private companies -Adani, ESSAR, Tata and China Light Power – to “squander” Rs 26,000 crore of the public exchequer. The Opposition claimed that the ruling party had purchased electricity from these four companies at “unimaginably high rates” in a “huge power purchase scam”.
Gujarat BJP Government Squandered Rs 26,000 Crore By Buying Electricity At High Rates From Adani, Essar, Tata And China Light Power: Congress
The Congress on Thursday alleged that the BJP government in Gujarat had let four private companies — Adani, ESSAR, Tata and China Light Power — to “squander” Rs 26,000 crore of the public exchequer by purchasing electricity from them at “unimaginably high rates” in a “huge power purchase scam” in the state.
Between the 11th Plan period (FY07-12) and the 12th Plan (FY13-17), infrastructure investment was projected to rise 2.3 times, from Rs 23.8 lakh crore to Rs 55.7 lakh crore.
The stressed imported-coal based power plants of Tata Power and Essar Power in Gujarat are fit to be taken over and can be operated without technical glitches, state-run NTPC has found in its technical assessment.
The biggest rescue package being stitched together for distressed power plants could see lenders take over three imported coal-fired generation stations of the Tata, Adani and Essar groups, involving an estimated investment of over Rs 40,000 crore, and transfer 100% equity for Re 1 to consumers states, including Gujarat where these plants are located.
Report by Kishore Dash; Bhubaneswar: As many as 110 remote villages in Naxal-affected cut-off area, on the other side of the vast Chitrakonda reservoir in the district which have no electricity supply since long will soon be illuminated thereby opening a new window for the development of the region to where right now there is no on road connectivity