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.
Tag: 2014
Post
Post
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.
Post
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.
Post
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
Post
Uttarakhand project gets MoEF clearance
A 300-MW hydroelectric power project in Uttarakhand received environmental clearance from the Ministry of Environment and Forests (MoEF). The project is located in the Upper Yamuna River Basin in Dehradun district. It will produce 612.93 million units of electricity every year. The project will also provide drinking water, water for irrigation, and water for industrial use.
Post
L and T power plant operational
Larsen and Toubro (L and T) has begun commercial operations of its first 700 MW unit of the 1,400 MW supercritical thermal power plant at Rajpura in Punjab. The plant was constructed on a turnkey basis by L and T Power, with more than 90 per cent of the equipment sourced from group companies of L and T. The supercritical boiler and turbine were manufactured by L and T´s joint venture companies with Mitsubishi Heavy Industries (MHI).
Post
JSPL acquires Kineta Power
Jindal Steel and Power (JSPL) has acquired 100 per cent stake in Kineta Power, a 1,980 MW privately-owned coal-based power plant in Nellore district of Andhra Pradesh. The deal would be executed in phases and the project cost would be around Rs 10,000 crore. JSPL has plans to run the plant on imported coal from its mines in Indonesia and would blend it with the thermal coal produced at its mines in Mozambique.
Post
Jaypee Group to sell power assets
Jaypee Group is planning to selling a majority stake in two of its hydro-electric power plants in north India for about $1 billion, according to reports. The group had expanded aggressively into power production and construction during the boom in the Indian economy post 2006. However, the global financial downturn in 2008 and a slowdown in economy has hurt its expansion plans.
Post
TUV SUD to help modernise power plants
TUV SUD, the global testing, certification, inspection and training provider will contribute to the modernisation and efficiency improvement roadmap for Indian power plants. The company would also support power plant owners in India in modernising their installations. The Central Electricity Authority (CEA) has empanelled the international provider of testing and certification services as a renovation and modernisation (R&M) consultant for thermal power plants.
Post
Hindustan Power embarks on major investment plan
Hindustan Power Projects, formerly known as Moser Baer Projects, is embarking on Rs 32,000-crore investment plan to have 5,300 MW of capacities in its portfolio in the next three years. The Delhi-based company has already made an investment of around Rs14,500 crore across its projects in solar, coal-thermal and hydro power, according to the company. ?