Oil and Natural Gas Corp (ONGC) will decide whether to bid for the West Bengal government's 40 per cent stake in Haldia Petrochemicals (HPL) It may be recalled that the state government invited expressions of interest (EoIs) through West Bengal Industrial Development Corporation for selling its stake in
Tag: West Bengal
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TCG asserts right over shares of state govt in HPL
West Bengal government's plan to offload its 39.99 per cent stake in Haldia Petrochemical (HPL) suffered setback with the group companies of The Chatterjee Group (TCG), claiming part of the stake sale. TCG, holds stake in HPL through its group firms Chatterjee Petrochem (Maurtius) Company and Chatterjee Petrochem (India
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Proposed port in AP to boost cargo volume from east coast
Industry chambers feel that the proposed Rs 8,000 crore major port in at Dugarajapatnam in Vakadu 'mandal' or block of Andhra Pradesh may boost export and import from the east coast and contribute to the economic progress of the state. It may be noted that the Cabinet Committee on Economic Affairs recently cleared the proposed port project, which is coming up on a 5,000 acre land in the stat
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CCEA clears two major port projects
The Cabinet Committee on Economic Affairs (CCEA) approved the setting up of two major ports, one each in West Bengal and Andhra Pradesh. The ports would be set up in at Sagar Island, West Bengal and at Dugarajapatnam in Andhra Pradesh on Public Private Partnership (PPP) mode. According to a government press release, the existing port facilities at Kolkata and Haldia are riverine ports and are f
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IL&FS ties-up with NHAI for Rs 1,665 cr project in 2 states
Infrastructure firm IL&FS Transportation on May 9 said it has signed a pact with National Highways Authority of India (NHAI) for Rs 1,665 crore road project in Jharkhand and West Bengal. The company said that the concession agreement for six-laning of Barwa-Adda-Panagarh section of NH 2 was signed between NHAI and Barwa-Adda Expressway, a subsidiary of the company incluidng Panagarh bypass.
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CCEA may clear Andhra, West Bengal port projects
The cabinet committee on economic affairs (CCEA) is likely to clear the two major port projects in Andhra Pradesh's Ramayapatanam and West Bengal's Sagar. The two projects are part of the centre's plan to award as many as 30 ports worth Rs 24,600 crore during the current year and enhance the cargo handling capacity by 288.48 million tonne
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West Bengal’s land policy hits its wind project
West Bengal Chief Minister Mamata Banerjee’s ‘no land acquisition’ policy has already impacted investment into West Bengal. Now, her policy to allocate State-held land through competitive bidding may prove to be a stumbling block in attracting investments in the Eastern region’s largest wind-farm project.
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ADB’s $252 mn loan for rural roads in five states
The Government of India and Asian Development Bank (ADB) have signed a $252 million loan to continue improving rural roads in Assam, Chhattisgarh, Madhya Pradesh, Odisha, and West Bengal. The ADB's loan represents the first tranche of a $ 800 million financing facility under the Rural Connectivity Investment Programme.
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Terminal project in WB to benefit from Rs 38 bn plan
RPS Kahlon, Chairman of Kolkata Port Trust (KoPT) informed that the proposed container terminal project at Diamond Harbour in West Bengal would benefit from the proposal of the Railway Ministry to invest Rs 3,800 crore on port connectivity projects. He said KoPT welcomes the proposal as it will help the cargo evacuation and linkages in the proposed Diamond Harbour Container Terminal and Sagar
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IOC seeks clarity before raising stake in HPL
Indian Oil Corporation (IOC), which holds nearly nine per cent stake in Haldia Petrochemicals (HPL), would decide on raising its stake once clarity emerges, RS Butola, Chairman of IOC informed. The firm is expecting clarity on the first right of refusal by another promoter, The Chatterjee Group (TCG), on the stake