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Delhi govt to set up infra facilities

Delhi govt to set up infra facilities

Delhi government would set up civic amenities like hospitals and schools in over 1,600 unauthorised colonies, where it plans to ease development guidelines. The necessary infrastructure facilities to all the 1,639 unauthorised colonies would be provided by the state gov

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RIL denied approval for $3.5 bn development plan

RIL denied approval for $3.5 bn development plan

Owing to the absence of Drill Stem Tests (DSTs) to confirm the finds, the Directorate General of Hydrocarbons (DGH) refused to take forward the development plan of Reliance Industries' (RIL) in block NEC-25. RIL failed to conduct the above tests to confirm discovery in the NEC-25 block, off the Odisha coast. The firm made discoveries in D-32, D-40, D-9 and D-10 in the Block NEC-OSN-97/2 (NEC-25) and it sub

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Cabinet clears Rs 10 bn outlay for industrial infra projects

Cabinet clears Rs 10 bn outlay for industrial infra projects

The Cabinet Committee on Economic Affairs approved the Modified Industrial Infrastructure Upgradation Scheme (MIIUS) with an approved outlay of Rs 1,030 crore for the 12th Five Year Plan period. The outlay consists of Rs 450 crore for committed liability and the remaining Rs 580 crore for taking up 14 to 16 new projects including a minimum 2 projects in the N

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CSL mulls Rs 20 bn investment to raise capacity

CSL mulls Rs 20 bn investment to raise capacity

Media reports indicate that Cochin Shipyard (CSL) would invest almost Rs 2,000 crore towards its capacity expansion plan in the coming years by raising funds through an initial public offering (IPO). The company would raise part of the funds needed for this investment through the proposed IPO. The capacity expansion plan of the firm is part of its ambition to become a leading international shipbuilding and repair yard.

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RIL asked to clarify certain things in revised plan

RIL asked to clarify certain things in revised plan

Minister of State for Petroleum & Natural Gas Panabaaka Lakshmi informed Rajya Sabha that the government sought clarifications from Reliance Industries (RIL) on the revised field development plan (RFDP). It may be noted that the company submitted RFDP for D1 & D3 fields, the main gas producing fields in the eastern offshore KG-D6 block, with downward revision in reserves

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House panel asks SCI to review fleet plan

House panel asks SCI to review fleet plan

The Parliamentary Standing Committee on Transport, Tourism and Culture asked the state-run Shipping Corporation of India (SCI) to review its fleet acquisition orders already placed. SCI decided to acquire 62 vessels based on the resources available for such a huge procurement rather than based on need, the committee said. The committee feels that SCI's fleet acquisition order may lead the firm into financial trouble like Air India. While the company intended to buy 62 vessels during the

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Goa govt prepares draft investment policy

Goa govt prepares draft investment policy

Goa government prepared a draft investment-cum-industrial polic, which laid a special thrust on development of Special Investment Regions (SIRs). The SIRs will attract large investments, economies of scale and world class infrastructure arrangements. SIRs involves special areas demarcated for development with their own industrial, social and urban infras

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JSW Steel delays expansion plan

JSW Steel delays expansion plan

According to media reports, JSW Steel halted its expansion plan of its 10 million tonne Vijayanagar plant in Karnataka to 12 million tonne until such time the iron ore supply improves in the state. The company was to invest Rs 2,695 crore on the expansion project in 2013-14 by borrowing Rs 1,750 crore and using its cash reserves for the remaining about Rs 945 crore

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Ministry takes steps for growth of steel sector

Ministry takes steps for growth of steel sector

Union Minister of Steel Beni Prasad Verma informed Parliament that his ministry routinely consults the steel industry to be apprised of the constraints to growth and recommends necessary corrective measures as and when necessary, to other concerned ministries. He said the government has taken the following steps to support the competitive production and capacity growth of the steel