Commerce and Industry Minister Anand Sharma welcomed French government and companies to invest in infrastructure, transport, high technology, energy and other sectors in India. He discussed mutual cooperation in the field of economy and business during his meeting with French Minister for Foreign Trade Nicole Bricq in Paris. Sharma also requested the French Minister to enco
Author: admin (Infratructure Today)
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CCI clears projects worth over $27 bn since January
According to government data, the Cabinet Committee on Investments (CCI), which is headed by Prime Minister Manmohan Singh, helped clear projects worth investments of over $27 billion since it was set up in January. Some observers want the CCI to focus on all the projects instead of focusing on only selected projects. In an interview to a leading media, Naina Lal Kidwai, President of FICCI said the committee must shed its curre
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Govt to raise steel capacity 3 fold by 2025
In the next eight weeks, union steel ministry would prepare a road map with time lines for attaining the government's target of trebling steel production capacity to 300 million tonne by 2025. Government aims to raise the production capacity of steel by three-fold in order to support manufacturing sector in the country
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Govt considering ore license for $12 bn steel project
Unconfirmed reports indicate that the union government is considering to provide an iron ore exploration licence to South Korean firm POSCO for its planned $12 billion steel plant in Jagatsinghpur, Odisha. Granting of this license may expedite the long-delayed steel project, which is said to be the largest forei
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IMG to shortlist bankers to manage stake sale in IOC
The inter-ministerial group (IMG), headed by Disinvestment Secretary Ravi Mathur, would shortlist five merchant bankers for managing the 10 per cent government stake sale in Indian Oil Corporation (IOC). The five merchant bankers would be shortlisted from among 17 banks, who would make presentations to the IMG
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OMCs oppose finance ministry proposal on pricing method
Public sector oil marketing companies (OMCs) like Indian Oil (IOC) opposed the proposal of the finance ministry to adopt export pricing method for calculating under-recoveries on cooking gas and diesel. State-run OMCs argue that if the finance ministry's proposed formula for subsidy sharing is accepted, they stand to lose out on compensation and it will also impact their investment and expansion plans
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Govt sticks to formula rather than any fixed price
Even as the union cabinet recently approved the hike in domestic natural gas price to $8.4 million metric British thermal unit (mmbtu) from April 2014, the government does not stick to any fixed price, some media reports indicate. According to these reports, the government has left the market condition to fix the price based on the formula proposed by the Rangarajan committee
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Department suggests cap on gas pricing under new regime
The department of expenditure of the union finance ministry suggested the oil ministry to fix a ceiling price for domestic natural gas under the Rangarajan formula. On June 27, the Cabinet Committee on Economic Affairs cleared the adoption of the Rangarajan pricing formula for domestic natural gas from April 2014. But while adopting this formula, the expenditure department suggested that gas producers should not be allow
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GAIL plant does not receive gas from KG-D6
Liquefied Petroleum Gas (LPG) plants of GAIL has reportedly stopped receiving natural gas from Reliance Industries' KG-D6 block because of falling output in the area. Supply to the plant was stopped because gas output at KG-D6 declined to just over 14 mmscmd which is enough to met the requirement of fertiliser plants. Fertiliser plants are given top priority in gas supplies
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India to cooperate with Iraq on various sectors
At a bilateral meeting with the leaders of Iraqi government, Union oil Minister M Veerappa Moily offered the participation of Indian companies with expertise in areas such as refineries, petrochemicals and fertilisers in various projects in the gulf nation. He recently visited Iraq to attend the 17th meeting of the India-Iraq Joint
Commission. Moily stressed on the need to strengthen the relationship between the two countries given that Iraq is the s