Media reports indicate that the Comptroller and Auditor General (CAG) would study the impact of the recent hike in the price of natural gas on the financial position of Reliance Industries (RIL). For natural gas sourced from RIL's KG D6 basin, the hike in the price would be effective from April 2014, when the contractual price agreement between the firm and the government expires
Author: admin (Infratructure Today)
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State-run OMCs raise diesel, petrol prices
State-run oil marketing companies (OMCs) raised the price of diesel by 50 paisa per litre, the sixth increase in rates since January 2013, when the government allowed these firms to raise the price once every month. Government allowed state-owned OMCs to raise diesel prices by up to 50 paisa per litre every month till entire losses on the fuel are wiped out
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Minister urges OMCs to expedite delivery of ethanol
The Minister of Petroleum & Natural Gas M Veerappa Moily directed PSU Oil Marketing Companies (OMCs), at a meeting of CMDs and Directors (Mktg) of OMCs and ISMA here today, to make all efforts for expediting delivery of already procured quantity of ethanol. He also asked them to procure expeditiously additional quantity of ethanol through fresh tenders to meet the requirement of 5 per cent mandatory Ethanol Blen
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MRPL wants to import oil from Iran again
Mangalore Refinery and Petrochemicals would take all necessary steps for recommencement of import or processing of Iranian crude oil in its refinery. This information was given by PP Upadhya, Managing Director of MRPL in a June 29 letter to Oil Secretary Vivek Rae, media reports suggest. The company stopped import of oil from Iran after local insurers said they could no longer cover plants that proc
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Panel head suggests major ports to expand capacity
Sitaram Yechury, who headed the Parliamentary Standing Committee on Transport, Tourism and Culture suggested major ports in the country to invest their surplus funds on modernisation and expansion projects. He said major ports must raise capacity to cater to the projected rise in traffic to 1,229.24 million tonne by the end of the 12th five year Plan from the present level of 545.67 million tonne
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Two PPP port projects under construction in Kerala
Kerala is constructing two port projects worth over Rs 6,200 crore under the public private partnership (PPP) route. The state government completed one port project worth over Rs 700 crore under PPP and it has been put to service delivery, a study conducted by the Associated Chambers of Commerce and Industry of India (Assocham) show
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CPT discusses royalty issue with consortium
Calcutta Port Trust (CPT) is said to be holding discussion with the consortium of Concast Infratech and Hyundai Engineering Construction over the royalty payment for the proposed Haldia Dock II project at Salukkhali in East Midnapore. The consortium, which was the sole bidder for the south part of the port project, offered to share only 1 per cent of the gross revenue as royalty. However, this was not agreeable to the port management and hence both
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MPT to offer sops to exporters
In order to attract container traffic business from the neighbouring states, Mormugao Port Trust (MPT) plans to offer operational sops to exporters. The port has been trying to diversify its cargo handling ever since the iron ore mining ban in Goa affected export of the mineral and thereby the port's main cargo traffic. The port is willing to offer one-to-one service so that the consignment can be loaded onto the ship till the last minute. There is no cutoff time for loading the con
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CPT to promote its facilities for attracting traffic
On July 19, Chennai Port Trust (CPT) has organised a trade show in Hyderabad to showcase various facilities available with the port and how it would be useful to importers and exporters. The port decided to hold the event as it realised that a lot of cargo from CPT goes to Andhra hinterland. Industry watchers warn that CPT must improve its marketing or else traders would slowly move towards newe
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Firms respond to RfQ for Rs 80 bn terminal project
Several firms have responded to the request for qualification (RfQ) sought by the Jawaharlal Nehru Port (JNPT) for the Rs 8,000 crore fourth container terminal project. The port authority would soon conduct a pre-bid meeting for the project, after which the number of actual bidders would be known. Among the firms responded to the RfQ are DP World, Dubai, APM Terminals, Adani Group. It may be recall