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.
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.
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.
The high court in Chennai granted the owner of bharatmatrimony.com an interim order, restraining Google India from using its ads on the former's platform to sell space to the petitioner's competitors.
Latest in generational change trend in South Indian majors.
The company would focus only on expanding its existing facilities at an investment of around Rs 600 crore (Rs 6 billion), said S Gopalakrishnan, chief executive officer and managing director.
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.
Neyveli Lignite Corporation Ltd is planning to invest Rs 10,000-12,000 crore in setting up power projects. It is also planning to foray into renewable energy, by setting up wind energy farms and solar units.
The Chennai facility will continue to service Indian and non-European markets. In July 2009, Hyundai India's managing director H S Lheem had said the company was planning to move production to Turkey, the Czech Republic or Slovakia.
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.
Lakshmi Venu's induction on Sundaram Clayton's board is part of the TVS Group's larger succession plan to make way for the women in the family.
According to the Society of Indian Automobile Manufacturers' (Siam's) data, Ford India between April and June produced 6,752 cars, of which 219 units were exported, through containers in different shipments.
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).
The Chennai-based retail chain ran out of money several months earlier and has suspended operations since then. Subhiksha's founder-promoter, R Subramanian, said he was optimistic of a settlement and early resumption of operations.
The earlier deadline given for a Corporate Debt Restructuring scheme was July 31. According a senior counsel who is close to the development, Cash and Carry has requested for a meeting with secured and unsecured creditors to work out the compromise. C&C was a firm promoted by R Subramanian, promoter and managing director of Subhiksha. Subramanian was not available for a comment and he did not respond to an e-mail sent by Business Standard.
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