The government will be signing Open Acreage Licensing Policy (OALP) round-1 contracts for 55 oil and gas exploitation areas.
Amidst the chaos seen in the power sector, with 22,000 MW thermal power projects lying idle for the need of coal or gas and lenders taking power generating assets to National Company Law Tribunal (NCLT) to recover dues, the transmission sector- with longer life cycle and lower risks- has exhibited the only ray of hope for investors and developers alike.
In order to consolidate and accommodate this mass migration, the Government of India has undertaken several initiatives which have given a way to the mega projects, nucleated around the development of industrial clusters, connectivity and increasing India's exports.
With the adverse effect of demonetisation still looming over the country, the New Year will witness industry bigwigs - both international and homegrown Ã¹ queuing up to invest in IndiaÂ´s most industrially developed state, Gujarat. The occasion, Vibrant Gujarat (in its 8th edition), is all geared up to welcome the investors from all across the world.
The Petroleum Ministry will set up four new terminals with a capacity of 50 million tonnes across the country for processing and supply of natural gas to ensure better availability of the gas to the industries, Dharmendra Pradhan, Minister of State (independent charge) for Petroleum and Gas has said.
The government has rejected Cairn IndiaÂ´s plea to renew the contract for the prolific Rajasthan block with the existing terms and conditions and has asked for the investment plan for the renewal period to assess the extent to which the stateÂ´s share of profit can be raised.