Disinvestment of 10 per cent paid-up equity in the Indian Oil Corporation (IOCL) has been approved by the Cabinet Committee on Economic Affairs, as per the government's disinvestment policy.
Tag: August
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IOC to invest Rs 50 bn on gas project
Indian Oil Corporation (IOC) chose Dhamra coast in Orissa's Bhadrak district for setting up a natural gas terminal at an investment of Rs 5,000 crore. In future, IOC plans to raise the capacity of the terminal by above 10 million tonne per annum.
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ONGC to double its output in Assam
ONGC Assam asset plans to comĆĀ”ĆĀ”pĆĀ”lete projects on time so as to double its production by 2030 from the current level of 1.21 million tonne per year. More wells need to be drilled with the latest technology, emphasis has to be laid on opening up new horizons by strengthening exploration activities
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CIL to raise efficiency by installing GPS system
By March 2014, Coal India (CIL) plans to install GPS-based system for tracking transportation of coal and thereby improve efficiency at its major mines. The system is intended to prevent theft of coal and increase productivity.
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EPL to raise Rs 500 crore via bonds
Ennore Port (EPL) plans to raise only Rs 500 crore through tax-free bonds instead of the earlier plan of mopping up Rs 1,000 crore. The port is awaiting government notification and it hopes that it would get the same in next two to three months.
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Debt instruments preferred
Promoters of Indian companies are increasingly preferring to raise funds through debt and investors are also willing to offer it through structured deals or their NBFC arms that could either be a part of their investment group
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ECB norm relaxation
EAfter holding consultation with Indian companies, especially in the infrastructure sector, the government may relax guidelines for accessing funds through external commercial borrowing (ECB).
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PGCIL stake sale
The board of Power Grid Corporation of India (PGCIL) cleared a proposal to sell 15 per cent stake through Follow on Public Offer in order to raise funds for its investment plans.
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L&T to go for Rs 1,000-cr ECB deal for Hyderabad Metro
For the Hyderabad metro rail project, L&T is close to striking a Rs 1,000-crore external commercial borrowing (ECB) deal with India Infrastructure Finance Co (IIFCL).
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Lanco to recast Rs 90 bn debt
In view of the challenging economic condition, Lanco Infratech approached corporate debt restructuring (CDR) cell to recast its Rs 9,000-crore debt. Of the Rs 9,000-crore debt, Rs 4,000 crore is fund-based exposure and Rs 5,000 crore non-fund-based.