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Indian steel output growth lower than world average

Indian steel output growth lower than world average

In September, India's steel production growth fell short of the world average with the country clocking 4.7 per cent growth compared to the world average of 6.1 per cent. The World Steel Association (WSA) said India's steel output grew to 6.54 million tonne (mt) in September from 6.24 mt during the same month last year.

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Indian shipping hopes for better as volumes up

Indian shipping hopes for better as volumes up

In September, Indian shipping industry saw a slight rise with an increase in shipment volumes, driven by an increase in iron ore import by China and economic recovery in the US and Europe. Shipment volumes, across dry bulk, tanker and container carriers, have suffered in the last two years due to excess capacity and a fall in international trade.

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Infra trust fund on its way

Infra trust fund on its way

Under the finance ministry's new announcement, the revenues of a project will be transferred to the trust, which will then issue units to investors. Shilpi Aggarwal says the government is seeking innovative financing solutions for infrastructure.

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Coal India to Develop Coal bed Methane Reserves

Coal India to Develop Coal bed Methane Reserves

Union Minister of State for Coal Pratik Prakash Bapu Patil has said that Coal India CIL is pursuing development of coal bed methane (CMM) from its mining areas as it would be beneficial on mine safety as well as environment.

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Free Zone Lures Indian Investors

Free Zone Lures Indian Investors

As Middle Eastern ports vie for Indian transhipment trade, UAE-based Ajman Free Zone (AFZ) has recently expanded its footprint into India in alliance with AFZA International Pvt Ltd. Free Zones in the UAE and the neighbouring region have been luring Indian companies to establish trade hubs in their tax-free economic zones attached to ports.

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Cairn India Hopeful of Securing Nod

Cairn India Hopeful of Securing Nod

Cairn India, which plans to invest $1.6 billion (around Rs 9,500 crore) over the next three years, is hopeful of securing mandatory clearances for additional exploration and production in its Rajasthan oil and gas fields.

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Port Modernisation

Port Modernisation

The Union Government has taken up modernisation and expansion of 43 port projects at a cost of Rs 12,000 crore to add about 220 million tonne capacity to the ports. The capacity of all major ports was 744.91 million tonne per annum as on
31 March 2013.

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Coal Imports Jump

Coal Imports Jump

In the first four months of this fiscal, India's coal imports jumped 32 per cent. India imported 58.3 million tonne of coal between April and July, against 44.2 million tonne in the corresponding period last year.

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Essar, TPG Capital in Race for Karaikal Port

Essar, TPG Capital in Race for Karaikal Port

To acquire a majority stake in Karaikal Port in Tamil Nau, Essar Ports and US private equity giant TPG Capital are in the fray to acquire a majority stake in
Karaikal Port. The port is a subsidiary of debt-ridden Chennai based Marg Group.