Indraprastha Gas (IGL) raised the retail price of PNG (piped natural gas) and the compressed natural gas (CNG) owing to the recent steep appreciation of the dollar vis-a-vis rupee. The firm raised the price also because of the increased dependence on imported LNG, which raised its input cost of gas and necessitated the increase in retail prices of CNG and PNG. IGL said there has been a sharp depreciation of the rupee vis-vis dollar in the last one month
Tag: Cost
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NHPC cautious of clearing cost escalation in projects
Media reports indicate that the National Hydroelectric Power Corporation (NHPC) has been cautious of clearing cost escalation for various hydel projects anticipating adverse comments from the comptroller and auditor general (CAG) of India. NHPC officials are dragging their feet in clearing cost escalations, which is a common trend in hydropower projects, fearing CAG
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Land ports to be developed jointly by Bangladesh, India
In order to ensure cost-efficiency and expeditious trading between the two countries, India and Bangladesh decided to develop their land ports. This decision was taken at a recent meeting of the Joint Working Group. Officials from both the countries held the 8th meeting of the India-Bangladesh Joint Working Group on Trade. As part of this plan, India will spend Rs 4.67 bn to develop seven import tax stations at Agartala, Petrapole, Dhok
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272 projects across various sectors face delay
Data released by the Ministry of Statistics and Programme Implementation (MoSPI) shows 272 projects out of a total 558 projects costing at least Rs 150 crore are running late as on March 31, 2013. As many as 59 of these projects reported delays just in March 2013 (additional delay
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Plan panel to decide on Rs 42.6 bn rail project
The Planning Commission would decide on whether whether to clear the Rs 4266.88 crore railway line project between Karnataka and Kerala. Of the estimated cost Rs 4266.88 crore, the cost of laying 72-km railway line between Nanjangud and Sulthan Bathery is estimated at Rs 764 crore. The Nilgiris-Wayanad National Highway and Railway Action Committee (NWNHRAC) has updated the earlier survey on the 236-km rail line project and has sent the repo
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Ministry sets up panel to make financial sector competitive
Union finance ministry set up a council of experts headed by the Economic affairs secretary to suggest measures to enhance the competitiveness of India's financial sector. For this purpose, the ministry constituted the Standing Council of Experts whose members include Chief Economic Adviser (also Alternate Chair), Prithvi Haldea (Chairman, Prime Database), Nachiket Mor (Cha
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Gujarat Gas may face low gas volume
Some analysts feel that the gas volume of Gujarat Gas Co. may be muted in the coming months because of falling domestic output of natural gas. The company may hesitate to import regassified liquefied natural gas (RLNG) as it is costlier than domestically produced gas. Also, most of Gujarat Gas consumers are from the industrial segment and this limits the companyÂ’s ability to increase costs, some analy
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Big solar projects to cut cost of solar power: Govt
To cut the cost of solar power in the country the Union government is planning to roll out large megawatt size solar power projects. The Union Ministry of New and Renewable Energy (MNRE) is planning to roll out 500 mw and above large size solar power projects, said the Ministry's Joint Secregary Tarun Kapoor.
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Rupee weakness to hit infra projects funded via ECBs
India Ratings & Research (Ind-Ra) said the ongoing depreciation of rupee against the dollar is eroding the cost advantage of external commercial borrowing (ECB) for domestic infrastructure projects. companies preferred to raise funds through ECB as interest rate charged on such loan is cheaper that credit in the local market
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Essar Oil to replace rupee debt with dollar loans
Essar Oil plans to to replace its rupee borrowings with dollar borrowings in order to reduce interest cost and extend the maturity period of its debt. The reduction in interest cost is expected to boost returns from the refinery business of the firm. The company increased borrowing to finance its refinery expansion project, which was completed in March 2012. It raised its refinery capacity to 20 million tonne per annum and complexity to