In order to address the concerns of all stakeholders, Meghalaya government decided to reconsider the state Mines and Minerals Policy, 2012 and implement it after holding wide consultations with them. It may be recalled that the state Mines and Minerals Policy, 2012 allows miners to continue with rat-hole coal
Tag: investment
Post
Post
Steering group finalises deadline for infra projects
A meeting of the Steering Group appointed by the Prime Minister to accelerate Infrastructure Investment in its first meeting has finalized deadlines with time lines for the intermediate steps for key infrastructure projects. The progress on the intermediate steps will be monitored on a regular basis. The deadlines will ensure that Ministries or Departments are clear about not just the over
Post
Cabinet to decide on Rs 372 bn refinery project
Media reports indicate that the union cabinet would soon decide on clearing the Rs 37,230 crore refinery project at Barmer, Rajasthan. It is learnt that the central government prepared a note for the cabinet on this project, which is promoted by the state-run Hindustan Petroleum Corporation (
Post
Basel-III norms may require Rs 2.3 trillion additional capital for SBI
In order to meet the additional capital requirement under the Basel-III norms, State Bank of India (SBI) would need about Rs 230,000 crore up to 2018. This includes Rs 150,000 crore of tier-I capital and Rs 80,000 crore of tier-II capital, agency reports indicate.
It is learnt that SBI may raise some of the required capital through internal accruals and some part from the mark
Post
Kalyani Forge mulls Rs 2 bn investment to upgrade unit
In the coming five years, Pune-based Kalyani Forge
would deploy around Rs 200 crore on upgrading its current facility and key areas of operations. The Pune-based maker of precision forgings would use part of the investment for low-cost automation to increase productivity. It is learnt that the firm has a lot of u
Post
Foreign firms eye refinery, LNG projects in India
According to media reports, British Gas and British Petroleum are interested to set up oil refineries and LNG terminals in India. It may be noted that recently, government allowed 100 per cent FDI in oil refineries throÂugh the automatic rouÂte and this removes the need for a foreign company to tie-up w
Post
BPCL to deploy Rs 9 bn more on Kochi project
Prasad K Panicker, Executive Director of Bharat Petroleum Corporation (BPCL) Kochi Refinery informed that the firm would spend Rs 900 crore on a new LPG pipeline project and storage capacity project. While the state-run oil refiner would invest Rs 600 crore to set up a 229-km pipeline in Kochi Refinery, it would spend another Rs 300 crore at its Irumpanam unit to raise
Post
Govt gives 2,000 acre land for Rs 300 bn steel project
For implementing its proposed 6-million tonne-per-annum (mn tpa) steel plant, the Karnataka government granted over 2,000 acre land to ArcelorMittal at Kuditini, Bellary district. The state government and the global steel giant entered into a memorandum of understanding (MoU) for the Rs 30,0
Post
Essar Power issues bonds to refinance debt
In order to refinance its existing debt, Essar Power mopped up Rs 750 crore by issuing rupee denominated bonds. The company, which is part of the London-listed Essar Energy, has a total debt of around Rs 16,500 cr. The bond offering would increase the maturity timeframe of its debt and also enable the firm save on inter
Post
Industry bodies welcome FDI relaxation in key sectors
Industry bodies like Assocham and Confederation of Indian Industry (CII) welcomed the government's move to attract more foreign direct investment (FDI) in certain sectors. The government recently allowed 100 per cent FDI in telecom, hiked FDI limit in insurance sector to 49 per cent and took steps to promote foreign capital inflow in defen