Actuant India announced the launch of its manufacturing facility in Bangalore. The facility will support the company globally by offering value-added capabilities to drive business growth and accelerate operational excellence.
Author: admin (Infratructure Today)
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GAIL to set up LNG terminal at Paradip Port
For setting up an offshore LNG terminal at Paradip Port in Orissa coast at a cost of Rs 3,108 crore, India's largest state-owned natural gas distributor GAIL (India) has entered into a memorandum of understanding with Paradip Port Trust (PPT). The proposed 'Floating Storage Regasification Unit' will have an initial capacity of four million tonne per annum (mtpa).
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OVL to buy stake in Brazil
To buy an additional 12 per cent participating interest in block BC-10 in Brazil's Campos Basin, ONGC Videsh (OVL) has signed definitive agreements. Post the deal, OVL's share in the acreage would increase to 27 per cent. In the deep water block, this is part of the sale of 35 per cent share made by Petrobras. In 2006, OVL had acquired 15 per cent interest in the Campos Basin.
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Cairn India ranked worlds fastest growing energy firm
Cairn India has been ranked as the fastest growing energy company in the world while Reliance Industries is the top ranked Indian energy firm in the global ranking. With a compound growth rate of 121 per cent in past three years, Cairn was ranked the fastest growing energy company in the world ahead of Cnooc of China, Valero Energy of the US, PetroChina, Essar Energy and Russian Rosneft, according to the Platts Top 250 Global Energy Company Rankings.
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Power cos violating coal block norms
Many private power companies in the country were violating the terms and conditions of coal block allocation, the Central Bureau of Investigation (CBI) under the jurisdiction of Supreme Court (SC) and the Union Power Ministry (MoP) have found in their probe. The Ministry suspects that these companies have no intention to sell power to discoms but want to sell it to industries or at exchanges at higher rates.
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Orissa plans rail corridor for Rampia coal block
The Orissa government will develop rail corridor facility in the Rampia coal block on the lines of the already planned common rail corridor for the Angul-Talcher-Chhendipada belt. The common rail corridor is proposed to be developed with equity participation from Odisha Industrial Infrastructure Development Corporation (Idco) and Mahanadi Coalfields (MCL).
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Oil Min can save fuel
The Union Petroleum Minister M Veerappa Moily said that his ministry alone can save about 600 litre of petrol and diesel worth over Rs 40,000 by travelling by public transport. Fuel conservation is a necessity, it is an attitude and this is the message the Minister wanted to give to people. The minister had announced last month that he would travel by bus or metro every Wednesday starting October 9 and all officials will follow the suit.
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CIL production increases
In the last July-September quarter, Coal India (CIL) has achieved a 10.5 per cent growth in production to 98.5 million tonne against the same period last year. Supplies to consumer or offtake grew by
7.5 per cent to 109 mt. CIL reported 0.4 per cent growth in production and two per cent growth in offtake during April-June 2013.
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L&T wins projects in Gulf
L&T said that it won an EPC project from Takreer, a unit of State-owned Abu Dhabi National Oil Company (ADNOC) for the new aviation fuel terminal at Abu Dhabi International Airport for developing storage and delivery of JET A-1, special purpose aviation turbine fuel.
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Cairn India eyes acquisitions
To strengthen its exploration and production portfolio, Cairn India is exploring opportunities to buy gas and oil blocks. The acquisitions would be funded by the earnings from its Rajasthan assets. By 2015-16, the company plans to spend $3 billion and is hopeful of a production of 225,000 boepd overall by 2013-14.