In a case of domestic coal being utilised for feeding power into a neighbouring country, India has allowed NTPC-Damodar Valley Corporation (DVC) combine to export 300 megawatt (Mw) power each, on long-term and short-term basis to Bangladesh.
India’s fuel product consumption or sales increased 7.4% to 17.06 mt in July 2018 over a year ago. Naphtha sales jumped 60.7% to 1.14 mt, diesel 4.9% to 6.61 mt, petrol 7.8% to 2.31 mt, LPG 6.0% to 2.04 mt and bitumen 52.9% to 0.32 mt.
The Ministry of New and Renewable Energy (MNRE) has written to various state governments, asking them to ease up procedures for implementation of renewable energy (RE) power projects.
Tata Steel, the country’s oldest steel producer, saw it’s bottom line more than double as it reported a consolidated net profit at Rs 19.34 billion for the quarter ended June 30.
Sales rise 169.41% to Rs 2.29 crore. Net profit of Sinner Energy India rose 90.00% to Rs 0.19 crore in the quarter ended June 2018 as against Rs 0.10 crore during the previous quarter ended June 2017.
The Indian banking system, which is already struggling with large non-performing assets (NPAs) from the infrastructure and power sector, is likely to see further additions in 2018.
Insolvency concerns might have caused further distress in a large number of infrastructure companies but the power sector is being dealt with by the government differently.
India has launched an investigation into subsidised production and export of welded stainless steel pipes and tubes from China and Vietnam, an official notification said.
GAIL India Ltd, the country’s largest natural gas marketer, on Friday reported a 23 per cent rise in its April-June quarter net profit on better margins in gas trading and petrochemicals business.
The National Highways Authority of India (NHAI) has started the process to raise about Rs 40 billion through a bond issue in the domestic market, the process for which has already begun with the selection of lead bankers, including Axis Bank and SBI Caps.