BP is looking to sell 8.5 per cent stake in Indian subsidiary Castrol India through a block deal worth Rs1,750 crore. The share sale is happening at an indicative range of Rs 408 - Rs 422.50 per share. Shares of Castrol India declined 4.5 per cent to Rs 422.45 after the announcement.
Author: admin (Infratructure Today)
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Madhya Pradesh gears up for Green Energy Corridor Project
Madhya Pradesh has readied its blueprint for the Rs 4000 crore worth Green Energy Corridor project spearheaded by Power Grid Corporation (PGCIL), as next the five years would add another 6,000 MW of renewable energy projects in its installed capacity. This will also include a mega solar power project of 750 MW capacity, reports the Business Standard.
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Spectrum auction nets Rs 14,000 crore as deposits
Seven telecom operators have deposited Rs 14,653 crore as earnest money for the largest spectrum auction from October 1. The Department of Telecommunications (DoT) has said that Reliance Jio, Bharti Airtel, Idea Cellular and Vodafone can bid in any spectrum band in any of the telecom circles in the country.
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OVL seeks oil in lieu of $537 million due from Venezuela
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), is seeking $537 million worth of crude oil in lieu of cash due for its share of sales from a Venezuelan oilfield. OVL owns 40 per cent of the San Cristobal field and had invested about $190 million in the project in 2008.
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JSW Energy-Jaiprakash deal for 500 MW plant gets CCI nod
The Competition Commission has approved Sajjan Jindal-promoted JSW Energy’s purchase of the 500 MW Bina thermal power plant from Jaiprakash Power Ventures. Under the deal, announced in July, JSW Energy will buy 100 per cent stake in the special purpose vehicle (SPV) — Bina Power Supply Ltd (BPSL) — to which the 500 MW power plant is to be transferred.
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States to get Central support for free power scheme
The Centre will extend financial support to states to enable them to offer new electricity connections free of cost to everyone.
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States to get Central support for free power scheme
The Centre will extend financial support to states to enable them to offer new electricity connections free of cost to everyone.
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Gadkari lays foundation stones for 12 National Highway projects
Punjab witnessed a major step towards world class road connectivity in all major cities as Union Minister for Road Transport, Highways & Shipping Nitin Gadkari laid the foundation stones of 12 major National Highway projects worth Rs 10,596.19 crore at Ropar, Samrala and Jalandhar in the state.
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PwC consortium will be transaction advisors for Dholera airport
PricewaterhouseCoopers Pvt Ltd, in consortium with Airport Planners and Design Consulting Pvt Ltd, and SPA Legal, has been roped in by the Delhi-Mumbai Industrial Corridor Development Corporation (DMICDC) as transaction advisors for the greenfield Dholera airport in Gujarat, according to a report in the Business Standard.
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Auto manufacturing will be main driver of ‘Make in India’ initiative
Girish Shankar, Secretary, Ministry of Heavy Industries and Public Enterprises has said that the Government of India aims to make automobiles manufacturing the main driver of ‘Make in India’ initiative, as it expects the passenger vehicles market to reach 9.4 million units by 2026, as highlighted in the Auto Mission Plan (AMP) 2016-26.