Indian Oil Corp, Oil India and a unit of Bharat Petroleum Corporation (BPCL) will buy a 29.9 per cent stake in the Taas-Yuryakh oilfield in East Siberia for $1.12 billion and another 23.9 per cent in Vankor oilfield for $2.02 billion.
Author: admin (Infratructure Today)
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Committee on greenfield airports clears four projects
The Steering Committee on Greenfield airports headed by Secretary, Civil Aviation has considered four new airport projects. The Committee recommended ‘in-principle’ approval to three projects in Andhra Pradesh, viz., Bhogapuram, Dagadarthi (Nellore) and Orvakallu (Kurnool).
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Petrol consumption to grow 6% in FY 2017-18
India's petroleum consumption will grow at 6 per cent in financial year (FY) 2017-18, double the rate at which fuel demand in China is projected to grow, according to Moody's Investors Service.
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Land allocation for $100 bn DMIC project to begin in October
The $100-billion Delhi Mumbai Industrial Corridor will kick off land allotments next month and those eyeing plots are said to include big global investors like Ikea, Kia Motors and China Railway Construction Corp, reports the Economic Times.
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ONGC approves stake in GSPC gas block
The board of state-owned Oil and Natural Gas Corp (ONGC) has approved signing of a preliminary agreement for buying a stake in Gujarat government firm GSPCÂ’s KG basin gas block, reports Business Line.
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Navi Mumbai general body turns down Smart City proposal
The general body members of the Navi Mumbai Municipal Corporation (NMMC) have rejected the Smart City proposal for the third time, reports the Times of India. The conditions cited to be included in the Smart City list are “unacceptable and not in the best interest of the city”, these members said.
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Oracle, Maharashtra join hands for citizen services
Oracle has signed a Memorandum of Understanding with the Maharashtra government in San Francisco for the creation of a Center of Excellence, a research platform for designing, developing, and testing new capabilities for delivering better governmental services to citizens and business entities.
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Office space supply of 8.5 mn sq ft expected in Mumbai through 2016 | JLL India
Mumbai figures in top three cities globally that will add the maximum supply of Grade-A office space through 2017, according to a recent finding by JLL. Shanghai tops the list among major global markets and is followed by Mexico City, Mumbai, Beijing, Singapore, Sao Paulo, Tokyo, Moscow, San Francisco and London in the top 10, as of 1H2016, according to Ashutosh Limaye, National Director – Research, JLL India.
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National Civil Aviation Policy to develop infra, boost tourism
Ashok Gajapathi Raju Pusapati, Minister of Civil Aviation, has said that the government has taken a number of initiatives to make tourism affordable and accessible to the international traveller. He was speaking at a plenary session on ‘Core Infrastructure for Tourism’ at the Incredible India Tourism Investors’ Summit organised by the Ministry of Tourism in partnership with the Confederation of Indian Industry and the Tourism Finance Corporation of India.
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IWAI signs contract with DST for NW-1 special vessels
With its objective of providing safe, environment friendly and economical mode of transportation through National Waterway-1 (NW-1), the Inland Waterways Authority of India (IWAI) has signed a contract with DST, Germany to design vessels, especially suited to navigate the 1,620 km stretch of NW-1.