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Thursday, December 4, 2014

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NTPC considers expansion of 1600 MW for Telangana
NTPC is considering expansion of its capacity of 1600 MW for its Telangana's Ramagundam power plant which is a part of the 4000 mw power plant project proposed to be set up in Telangana state. Cost of the Project would be between Rs5.5 crore to Rs6 crore per MW.

PMO proposes Oil ministry for sharing LPG and Kerosene
PMO proposed Oil ministry for sharing LPG and Kerosene subsidies between government and oil companies in 50:50 ratio.The policy could bring long awaited clarity in the subsidy sharing formula; which would be sentimentally positive for all the OMCs (BPCL/HPCL/IOC)
and subsidy bearing upstream companies (ONGC/OIL/GAIL).

M&M is race to buy Swedish car maker Saab’s holding company
India  raised factory gate duties on petrol by Rs2.25 ($0.04) per litre and on diesel by Rs1 rupee per litre with immediate effect, the finance ministry said in a statement to parliament.
The increases, which follow similar hikes in mid-November, seek to take advantage of a slump in world oil prices to shore up government revenues without stoking inflation.

Apollo Tyres launches India's largest loader tyre at IMME
Apollo Tyres launched AWL 822, the largest loader tyre produced in India, at the ongoing 12th International Mining and Machinery Exhibition (IMME) 2014 in Kolkata. The company also introduced ALT 188 TX tyre with the industry's first traction tread design at the exhibition. AWL 822, used for loaders and dozers in high-abrasion conditions, is manufactured using 1300 kg Rubber, 700 kg Carbon Black & Silica, 200 kg Nylon Fabric and 300 kg of other rubber chemicals. With a size of 45/65-45 L5, the tyre has a special tread design with stone ejectors for protection & trouble free service and side protector for improved resistance to shoulder and sidewall cuts.

Bajaj Electricals secures new order from Odisha Power
Bajaj Electricals announced that the Engineering & Project Business Unit of the Company has bagged a new order for EHV sub-station and associated transmission line from Odisha Power Transmission Company (OPTCL) worth Rs31.35 crore.

Fin Min is stepping up efforts to sell stake in Hindustan Zinc
The  finance ministry is stepping up efforts to sell the residual stake the government holds in Hindustan Zinc, majority owned by the Vedanta Group.The ministry indicates that there is no legal hurdle and the finance ministry has already initiated the process of the remaining stake and the sale could be completed within the financial year.

Oil Min disallows development costs of $2.376 billion for RIL
Oil ministry disallowed development costs of $2.376 billion for RIL, leading to additional profit petroleum liability of $195.3 million for 2013-14; negative for RIL The Minister of State for Petroleum & Natural Gas informed in Rajya Sabha that the ministry had disallowed development cost based on the cumulative shortfall in production of gas vis-a-vis production estimates under the approved AIDP (Addendum to Initial Development Plan) for corresponding years incurred by the Contractor, RIL.

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