Reliance Industries Ltd has decided not to use its allocation of gas from the Krishna-Godavari basin's D6 field for petrochemical production; it will, instead, swap it with gas available from other sources. It will use D6 gas only for power generation.
Put plans on hold after HK caps expansion, Singapore orders stricter asset norms.
The government may consider a public-private partnership (PPP) mode for setting up national gas highways to ensure distribution across the country.
Putting an end to the fierce scramble for India's iron ore resources, the government has decided to split the Chiria iron ore mines in Jharkhand into two and give at least half the reserves to Steel Authority of India Ltd for its expansion plans. The other half will be kept for development by the private sector later, said informed sources.
A year later, land prices are less than half the peak levels of Rs 20 lakh an acre.
The department had earlier also examined the option of a direct equity sale but opted for a PPP model because it offered revenue sharing opportunities, fertiliser secretary Atul Chaturvedi said. Chaturvedi explained that whereas the outright sale of equity will mean the government will have to wait for the plants to make profits to get a share of revenue, the PPP mode will help it do so in the first year.
Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenfield slag-based cement manufacturing units with a total capacity of 3 million tonnes through a joint venture.
Government-owned Oil and Natural Gas Corporation, the country's largest petro exploration company, wants to hire an ultra deep-sea drill rig, the daily cost of which is about Rs 5 crore.
Since September-October last year, when the real estate market was in deep recession, several developers had started offering gifts like a car or a parking space with flats. For example, Kolkata-based real estate developer RDB Group had decided to give a Nano car with flats at its residential project in Sonarpur, South 24-Parganas.
With production hitting a three-year low of 14.7 million tonnes in this sugar season (October to September), the government is also expected to double the levy quota for the PDS from 10 to 20 per cent to tide over shortages. The levy price and quota act as a notional benchmark for open market sugar prices, which have doubled to Rs 34 to Rs 35 a kg since last September, owing to a global shortage. The price of levy sugar is half that of the open market price.
As Cairn India began to pump crude oil on Monday from its Mangala oilfield here.
RIL's KG basin started pumping gas in April and is currently producing 37-38 mscmd.
Currently, OMCs provide A-I a two-month credit. "There was a request from the committee of secretaries to extend the credit on ATF to three months from the existing two months to help Air India.
The purpose is to strengthen the ability of policymakers in the developing world to respond quickly and adequately to dynamic developments in the world food system. The portal will contain information regarding food crisis response on its 20 partner countries (mostly in Sub-Saharan Africa, but also in Asia and Latin America and the Caribbean).
Govt's divestment plans encourage funds to bet big on state-owned firms.
According to a Cabinet minister, the UPA's focus during the remaining period of the Budget session will be on passing the Right to Education Bill. Apart from this, the government is planning to bring a Bill to amend the Rubber Act and the National Commission for Heritage Sites Bill. The government will be occupied till July 27 with the General Budget, as contained in the Finance Bill. It will actually not get more than seven days to deal with other legislative business.
The minister said at a time when banks in the US and Europe needed government support for survival, banks in India were strong enough to sustain on their own.
India has managed to create ripples in the global commodities market with countries like the US and China set to follow its benchmark price for potash, a fertiliser widely used in the country. Breaking a well-entrenched global cartel, government-owned Indian Potash Ltd has managed to negotiate a potash deal with Russian company Silvinit at $460 a tonne
Development plan for K-G basin runs for 12 years, so can't supply to RNRL for 17 years, says RIL.
Anil Ambani's Reliance Natural Resources Ltd is laying claim (through a family agreement prior to the group's split) to gas from estranged brother Mukesh Ambani's Reliance Industries Ltd at a fixed price of $2.34 per mBtu
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