A new technique that produces gasoline-like fuels from farm and forestry waste could open up new markets for plant-based fuels beyond existing diesel substitutes, scientists say. The process developed by chemists at the University of California, Davis makes gasoline-like fuels from cellulosic materials such as farm and forestry waste using a new process.
Author: admin (Infratructure Today)
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IDFC to raise $300 mn
Infrastructure Development Finance Company (IDFC) is planning to raise $300 million through foreign loans. Earlier, in the third quarter (Q3) of the current financial year, the company raised $150 million through international loans with a five-year maturity. IDFC posted a 10 per cent rise in consolidated net profit at Rs 501 crore for Q3, compared with Rs 455 crore in the corresponding period last year.
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More gas reserves in Jaisalmer
Focus Energy has discovered new gas reserves in Jaisalmer in the same block where it had found new reserves in October 2012. According to officials, the company found gas in nine wells in SJL field in RJON/06 in Bachia, Lohar village in Shahgarh Bulj area.
The gas reserve was discovered at 3,465 m depth and is stretched up to five km area. Study and experiment has started to ascertain the exact quantity of oil in those wells.
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Essel Finance to diversify
Essel Finance Advisors and Managers is planning to add three more verticals to its portfolio in the coming months. The company already has a real estate private equity business and will add a non-banking financial company (NBFC), investment banking (IB) advisory and another vertical that will focus on fundraising for corporates. The overall plan of the company is to set up all the verticals in financial services business over the next 3-5 years.
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FIIs investment limit in PowerGrid
The Reserve Bank of India (RBI) has raised the Foreign Institutional Investors (FIIs) investment limit in the Power Grid Corporation to 30 per cent of its paid up capital. The RBI said that FIIs, through the primary market and stock exchanges, can now purchase up to 30 per cent of the paid up capital of Power Grid Corporation of India under the Portfolio Investment Scheme.
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Tiger Globals new VC fund
Tiger Global Management LLC has kicked off process to raise its eighth venture capital fund focused on later-stage, privately-held technology companies, as per reports. At present it has seven VC funds with assets of over $6 billion which will rise to over $7.5 billion if the plans for new fund turns out to be true. It had raised nearly $1.5 billion in its seventh VC fund in 2012.
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RBI hikes repo rate
The Reserve Bank of India (RBI) hiked its repo rate by 0.25 per cent to 8 per cent. The move according to the RBI is to dampen inflation, saying it was now better prepared to deal with the risk of major capital outflows roiling emerging economies. RBI, however, said that if retail inflation eases as projected, it does not foresee further near-term monetary policy tightening.
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Rajasthan project gets WB fund
The World Bank (WB) has funded Rs 1,362 crore for modernisation of roads which includes rural road connectivity programme. In this, 1,056 revenue villages having population 250-499 (as per census 2001) in 21 districts shall be connected by all-weather roads in Rajasthan. The major components of the projects are road section modernisation and performance enhancement.
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PE investments jump to $9.1 bn
Private equity (PE) investments in the country surged over 20 per cent to $9.1 billion last year even as deal volumes declined during the same period, says a report. According to Ernst & Young, PE activity in the country has been range bound with an average of $8.5 billion across 400 deals in each of the last four years. Total number of deals were higher at 415 in 2012.
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Steady outlook on banking sector
Banks in the country would largely remain resilient to the cyclical downturn on improvement in loan loss reserves and common equity injections in 2014, says an India Ratings and Research report. The report underlines a stable outlook for the sector in 2014. However, banks continue to face credit quality pressures from loan concentration, borrowers´ over-leverage and the prevailing economic slowdown. The portfolio of stressed assets is expected to grow from about 10.25 per cent at the end of Sept