India will see an investment of about $20 billion in gas field development in the next 5-7 years and is looking to boost usage of the green fuel and double consumption, Oil Minister Dharmendra Pradhan has said.
Tag: investment
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OVL wants oil in lieu of $537 million cash due from Venezuela
ONGC Videsh Ltd (OVL), the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), wants $537 million worth of crude oil in lieu of cash due for its share of sales from Venezuelan oilfield. OVL owns 40 per cent of the San Cristobal field and invested $190 million in 2008.
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National Civil Aviation Policy to boost tourism
Ashok Gajapathi Raju Pusapati, Minister of Civil Aviation, has said that the government has taken a number of initiatives to make tourism affordable and accessible to the international traveller.
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India to develop coal fields in Russia
India plans to further enlarge the scope of investment in the Russian commodity market to fuel its industries for coming decades. As part of this strategy India has offered to jointly develop coal fields and mines in Russia.
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Govt to open automobile clusters near ports
Union Minister for Road Transport, Highways and Shipping, Nitin Gadkari has said that the government is planning to develop automobile clusters near port areas. He said that port-led development under the Sagarmala project is expected to attract Rs 12 lakh crore worth of investment.
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Essar bulk terminal to hike capacity by 20 MT
The Essar bulk terminal at Hazira is all set to expand from the current 30 mtpa to 50 mtpa, up by 67 per cent, by this year end. Company officials say that the terminalÂ’s current 550 metre berth will be expanded by a further 1,100 metre. Post completion, the port will have capability of simultaneously handling seven vessels at any point of time.
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Leh airport to get new terminal for Rs.200 cr
A new terminal will be constructed at Leh airport with an investment of around Rs.200 crore which will increase the passenger handling capacity. With the new terminal, the peak hour passenger capacity is expected to go up to 800 from current level of 250.
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Essar Ports invests in expanding Hazira
Essar Port is investing Rs.750 crore to enhance the capacity of its Hazira terminal to 50 million ton per annum from 30 million tons.
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Rs.16,641 cr investment in affordable housing
The Central government has approved an additional investment of Rs.16,641 crore for affordable housing for construction of 2,44,267 houses for urban poor under the Pradhan Mantri Awas Yojana (Urban) during the first four months of this financial year.
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Telecom operators to invest Rs.20,000 cr
Telecom operators assured the government that they would install 1 lakh new towers in the next 12 months, entailing an investment of Rs.20,000 crore, to rein in the call drop menace and give a fillip to the Digital India campaign.