By the end of 2013, Indian Oil Corp (IOC) plans to begin work on its liquefied natural gas (LNG) terminal project at Ennore near Chennai.
FlashNews:
Whoever controls Antariksha (outer space) will rule Prithvi (the world)”: Dr. Subba Rao Pavuluri
Electricity futures key to managing power price volatility”: NSE’s Sriram Krishnan
InfraPandit Awards to Honour Doctoral Excellence in Infrastructure
REC Wins Leading CSR and Sustainability Award for Healthcare Support
HAL Set to Enter New Global Space Race with SSLV Contract Win
Multimodal Logistics: Optimising Assets, Strengthening Supply Chains
Gadkari Announces FASTag Annual Pass to Ease Private Vehicle Movement from Independence Day
Air India 171 Crash: A Definitive Inflection Point for Indian Aviation
REC Reports Strong Profit Growth
GAIL Reports Record Profit Surge
India Calls for Inclusive Energy Governance at BRICS Meet
Mumbai-Ahmedabad Bullet Train’s 300 km Viaduct Milestone
India Revokes Security Clearance to Turkish Firm Çelebi
Major Ports Handle Record Cargo Throughput in FY2025
India Committed to Unlocking Energy Potential: Puri
Gaganyaan Scheduled for 2027 Launch
Defence Budget Set for Rs.500 Billion Top-up
Operation Sindoor: The Indigenous Edge
Securing India’s New Crown Jewels
CIL to Adopt Modern Technology for Mining
Coal India (CIL) is on its path of modernisation. It has adopted modern technologies for coal mining and proposed to further modernise mining operations in its mines.
CMPDI Drills Mines for Coal Exploration
Till July 2013, the Central Mine Planning & Design Institute (CMPDI) carried out 2.16 lakh m of drilling for coal exploration compared to government's set target of 9 lakh m.
Ministry Allows Sovereign Funds to Invest in Tax-free Bonds
Reports indicate that the Finance Ministry allowed sovereign wealth funds to invest in debt instruments floated by state-run companies. It may be noted that the government allowed 13 state-run firms to raise around Rs 48,000 crore by selling tax-free bonds in 2013-14
Banks Wary of Lending to NBFC Sector
In the 12 months to June 2013, growth of bank lending to non-banking finance companies (NBFCs) declined to 1.9 per cent compared to 44 per cent in the year-ago period. Banks are said to be wary of lending to NBFCs following stricter guidelines issued by Reserve Bank of India (RBI).
Ficci sees $906 bn Investment
Indian construction industry is expected to see investments of over $906 billion this Plan period, according to the Federation of Indian Chambers of Commerce and Industry (Ficci) Deputy Director Jasmeet Singh
ADB Lends $300 m for Highway Project in Bihar
The Asian Development Bank (ADB) and the Central Government signed an agreement for $300 million in additional loan to upgrade 254 km of severely deteriorated highways in northern and southern Bihar.
Srei Hikes Lending Rate
Considering the rise in the cost of funds for the infrastructure sector, Srei Infrastructure Finance raised benchmark lending rate by 50 basis points. Thus, the new benchmark rate stands at 18 per cent per annum effective from September 1, 2013 compared to the earlier rate of 17.50 per cent.
IFC Mulls new Bank Licence
The private sector investment arm of World Bank, International Finance Corporation (IFC) is looking out to partner with aspirants for new bank licences, as it increases its investment in India to $2 billion this year.
Economic Growth Recovery Later in FY14
In its Annual Report 2012-13, Reserve Bank of India (RBI) said the economic growth may recover later in 2013-14 if government delivers better administration, eases supply constraints and maintain stability.