Metal Container Manufacturers' Association suggested the union finance ministry to reduce the import duty on prime tinplate from 7.5 per cent to 5 per cent. The association said this in a pre-Budget memorandum. It argues that the industry has not been able to make major investments for modernisation as the fund
Tag: import
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US sanction to make payment for Iran difficult
From February 6, Indian banks would not be able to transfer money to Iran for the oil imported by India from the gulf nation. This is because a new US treasury sanction, which bars banks from transferring IranĆās oil revenues from importing nations to Tehran, comes into effect from February 6. So far, India has been making 45 percent of the payment to Iran for its crude oil in rupees through the Kolka
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Adani Gas depends on imported natural gas
Reports suggest that compressed natural gas (CNG) is costlier in Ahmedabad than in Delhi, Mumbai, Pune because Adani Gas, which distributes gas in Ahmedabad, is entirely dependent on imported gas. The company has to depend on imported gas because it does not have access to domestically produced gas, while companies in Delhi, Mumbai and the othe
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Cairn India awaits nod for exploration
The management committee that overseas the production of crude oil by Cairn India in the Rajasthan oilfields is expected to meet soon. Cairn India is awaiting the approval of the committee for exploration in the delineated area in the Rajasthan oil field so that it could raise oil production. Once approved, the company would be able to raise prod
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Board of Petronet clears Rs 50 bn terminal project
Petronet LNG, which proposes to set up a five million tonne per annum LNG terminal at Gangavaram, Andhra Pradesh at a cost of about Rs 5,000 crore, received final approval from its board for the investment. The firm, which expects to complete the project by end-2016, has finished several pre-project activities and it is working towards short-listing of potential cont
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Centre receives plea to remove custom duty on ship breaking
Union Finance Minister P Chidambaram received a request from the Gujarat government to reduce custom duty on import of ships being brought for breaking from 5 per cent to zero. Gujarat Finance Minister Nitinbhai Patel put this request at the pre-budget meeting convened by Chid
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Experts urge oil firms to step up production
Experts and industry observers urge oil and gas companies to accelerate engineering and production activities in order to bridge the demand-supply gap in crude oil. The country depends on import for over 70 percent of its crude oil requirement and this puts huge pressure on India's import bill
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Petronet LNG expands Dahej terminal in 2 phases
Media reports suggest that Petronet LNG is expanding its Dahej LNG terminal in two phases. In the first phase, it is building second LNG jetty which will get completed by the end of December 2013 or early 2014. This would improve its facility by increasing unloading capacity and also give more flexibility. The company expe
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Mercator gives tanker to ferry Iranian oil
Mumbai-based Indian shipper Mercator gave a crude oil tanker to the National Iranian Tanker Company (NITC) for carrying crude oil from the gulf country to India in December. This is the first time that the Iranian firm chartered an Indian vessel covered under an insurance scheme arranged by New Delhi through state-run insurers, rep
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ABG files SLP with SC against HC order
Against the earlier order of Calcutta High Court, ABG Ports has filed a special leave petition (SLP) with the Supreme Court (SC) seeking approval to remove its equipment out of Haldia Dock Complex (HDC) in Kolkata Port. Earlier, the Calcutta High Court ordered the firm not to take the equipment out of India, and also said that special officers, along with