The Union government has allowed Mukesh Ambani owned by Reliance Industries to surrender its special economic zone (SEZ) in Haryana. The decision to de-notify Reliance Haryana SEZ, a unit of RIL, was taken by Board of Approval (BoA), headed by Commerce Secretary SR Rao, in its meeting on June 12.
Tag: Union government
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World Bank’s loan of $216 mn to improve Kerala roads
To improve road conditions and safety in Kerala the Union government has signed a pact with the World Bank for $216 million loan for the State Transport Project. The loan and project agreements for World Bank assistance of $216 million for Kerala State Transport Project were signed between the Central government, Kerala government and World Bank on June 19, an official statement said.
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Centre okays 16 FDI proposals worth Rs 1,646 cr
The Union government on June 18 stated that it has cleared 16 foreign direct investment (FDI) proposals worth Rs 1,646.87 crore. Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on May 10, 2013, the government has approved the 16 proposals of FDI. The largest money flow of Rs.961.74 crore is related to acquisition of stakes by foreign promoters in Chennai-based Vijay Television.
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Govt’s new gas policy may bring an end to power woes
The Union government has taken initiative to generate power from gas-based power projects. With this, an end to the power woes is expected in the country. The government is expected to take several major administrative decisions this month, which will give a new lease of life to around 26,800 mw of stranded and ready-to-be commissioned gas-based power projects. The Cabinet Committee on Investment (CCI) is expected to give a go-ahead for according priority to gas allocation for the power sector,
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Big solar projects to cut cost of solar power: Govt
To cut the cost of solar power in the country the Union government is planning to roll out large megawatt size solar power projects. The Union Ministry of New and Renewable Energy (MNRE) is planning to roll out 500 mw and above large size solar power projects, said the Ministry's Joint Secregary Tarun Kapoor.
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Govt evaluating foreign airlines’ demand of traffic rights
India is evaluating demands by various foreign airlines to enhance bilateral air traffic rights in the wake of a massive hike granted to Abu Dhabi following the Jet-Etihad deal. The Union government is planning to evaluate India's international passenger growth and will also see how the existing bilateral rights are being used by Emirates before taking a call on their request, said Union Civil Aviation Minister Ajit Singh in London.
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Govt to develop 16 coal-based ultra mega power projects
The Union government has launched an initiative for the development of coal-based Ultra Mega Power Projects (UMPPs) each with a capacity of 4,000 mw. Sixteen UMPPs have been identified in various parts of the country. Out of these, two UMPPs are identified for being located in Tamil Nadu.
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Centre gives nod to road development works in Arunachal
The Union government has given its approval for the
four-laning of the road from Itanagar to Banderdewa and double laning from Itanagar to Jote for better connectivity with Itanagar, the Arunchal Pradesh state capital. The development came when Vijay Chibber, Secretary of Union Ministry of Road Transport and Highways (MoRTH), met Arunachal Pradesh Chief Minister Nabam Tuki and gave his in principle approval for the road works in the state.
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Highway developers may get exit option
Cash-strapped highway developers may be permitted by the Union government to exit projects at any stage after financial closure if lenders agree to change the concessionaires at the request of the existing developer. The Surface Transport Ministry feels that this could be a shot in the arm for stalled highway projects since equity released from old projects can be used to develop new ones, and companies with relevant expertise can take over the construction or operation and maintenance of the ex
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AP CM to put forth demands at Delhi power meet
The Andhra Pradesh government will explain the Centre the ground realities of the power crisis in the state and what it requires from the Union government to tide up the situation at a high-level meeting on fuel crisis, likely to be held in Delhi in the third week of June.