Manoj Kumar Upadhyay, Founder, Chairman and Managing Director of ACME Group is responsible for strategic growth and expansion of the company in India and abroad. He has over 18 years of experience in the power and telecom sectors.
Tag: India
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CIL achieves 3.2 per cent growth
Coal India (CIL) has produced 366.6 million tonne of coal in the first 10 months of 2013-14, fulfilling 75 per cent of its annual target, while clocking a 3.2 per cent growth rate. During these 10 months, while Eastern Coalfields, considered a laggard, clocked a 10.4 per cent growth rate, Western Coalfields went negative, mining an output which was 7.7 cent lower than the same period in 2012-13.
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Petronet to let out Kochi facility
Petronet LNG is planning to let out its liquefied natural gas (LNG) storage facility at Kochi to an international operator to improve utilisation. The 5-million-tonne-a-year terminal is operating at just 5 per cent of its total capacity posing a heavy burden to the company, as it is not connected with pipelines´ network.
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Panel to review on coal linkages
An inter-ministerial panel will meet on 19 February to review the status of existing coal supply arrangements to the power and other sectors. The Cabinet Committee on Investment had earlier said timelines for signing fuel supply pacts for power projects of 78,000 MW capacity should be met.
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IOC LPG unit near Kochi
Indian Oil Corporation (IOC) has set up a Rs 600-crore import facility at Puthuvypeen near Kochi with a capacity to handle 0.6 million tonne a year to meet the requirements of Kerala and neighbouring states.
The company has also received approval for a 400-km cross-country LPG pipeline from the import terminal to BPCL Kochi Refinery and to Salem via Coimbatore.
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New technology to produce biofuel
A new technique that produces gasoline-like fuels from farm and forestry waste could open up new markets for plant-based fuels beyond existing diesel substitutes, scientists say. The process developed by chemists at the University of California, Davis makes gasoline-like fuels from cellulosic materials such as farm and forestry waste using a new process.
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IDFC to raise $300 mn
Infrastructure Development Finance Company (IDFC) is planning to raise $300 million through foreign loans. Earlier, in the third quarter (Q3) of the current financial year, the company raised $150 million through international loans with a five-year maturity. IDFC posted a 10 per cent rise in consolidated net profit at Rs 501 crore for Q3, compared with Rs 455 crore in the corresponding period last year.
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Essel Finance to diversify
Essel Finance Advisors and Managers is planning to add three more verticals to its portfolio in the coming months. The company already has a real estate private equity business and will add a non-banking financial company (NBFC), investment banking (IB) advisory and another vertical that will focus on fundraising for corporates. The overall plan of the company is to set up all the verticals in financial services business over the next 3-5 years.
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FIIs investment limit in PowerGrid
The Reserve Bank of India (RBI) has raised the Foreign Institutional Investors (FIIs) investment limit in the Power Grid Corporation to 30 per cent of its paid up capital. The RBI said that FIIs, through the primary market and stock exchanges, can now purchase up to 30 per cent of the paid up capital of Power Grid Corporation of India under the Portfolio Investment Scheme.
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RBI hikes repo rate
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.