Till July 2013, state-run firm Steel Authority of India (SAIL) invested Rs 42,101 crore out of the proposed Rs 61,870 crore it plans to spend on modernisation and expansion of its existing facilities. Through this investment, the company plans to raise its crude steel production capacity to 21.4 million tonne per annum (mn tpa) from 12.8 mn tpa now
Author: admin (Infratructure Today)
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OMCs float tender for 133 cr litre Ethanol
The Union Minister of Petroleum & Natural Gas Marpadi Veerappa Moily informed the Lok Sabha in a written reply recently that the government has further decided on last July 3 that Oil Marketing Companies (OMCs) will procure ethanol from domestic sources to achieve the mandatory requirement of 5 per cent ethanol blending with petrol by October, 2013 in areas/parts of the country where sufficient quantity of ethanol is available.
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Oil India mulls to diversify into refining biz
As part of its diversification strategy, government-owned hydrocarbon explorer Oil India plans to diversify into building and operating refineries in the country and is looking for a partner, said the company Director, Finance, TK Ananth Kumar. For now the company's plans are India-specific, he added.
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ONGC to buy stake in Mozambique gas block for $2.64 bn
US oil company Anadarko Petroleum Corp is to sell a 10 per cent stake in a Mozambique gas field offshore to a unit of Oil & Natural Gas Corp (ONGC) for $2.64 billion. aNADARKO wanted to focus more on its domestic assets.
By the end of this year, the deal for the Mozambique's offshore Area 1 is expected to close, the US company said.
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BP India says $4.2 gas price unviable
UK major BP Plc's India unit has made a strong pitch for market determined prices for natural gas. Most of gas discoveries in India are unviable at the current rate of $4.2, says the company.
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Oil-rich South Sudan looks to India to up its agri-production
To improve its agricultural and food security practices, South Sudan is looking to India. The oil-rich African country hopes the New Delhi visit of Salva Kiir Mayardit, the president of the world's youngest nation, will lay a solid foundation to further promote bilateral relations with India. Mayardit is to be in India from August 26-28.
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Delay in dredging of approach channel in Vizag port
Some of the government-owned ports are bringing revenue losses to the government as they are not fulfilling their obligatorty tasks on contracts signed with private cargo handling firms, delaying their implementation and hurting the ability of these facilities to operate at full potential.
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Anti-bifurcation stir hits fertiliser movement at AP ports
In Andhra Pradesh the ongoing anti-bifurcation agitation in the coastal Andhra Pradesh is causing huge loss to ports in the state. Fertiliser handlers at seaports, particularly in Visakhapatnam port, are incurring huge demurrage (a charge payable to the owner of a chartered ship in respect of failure to load or discharge the ship within the time agreed.) losses over the last three weeks due to the agitations.
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NHAI to scrap 6 projects due to land acquisition issues
The National Highways Authority of India (NHAI) has decided to scrap six projects worth Rs 4,000 crore due to land acquisition hurdles. NHAI's move comes while the Union Ministry of Road Transport has been trying to revive interest in the road sector through a slew of measures including amendments in the exit policy for private developers and rescheduling the premium that the developers owe the NHAI.
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Goa to take up road repairs from Sept 15
The Goa government will take up road repairs from September 15. Roads battered by rains will be taken up for repairs and those road contracts with three-year warranty period will be repaired by the contractors concerned at their cost. The State Public Works Department (PWD) will undertake temporary repairs as soon as the rains recedes.