Work on disinvesting government holdings may gather pace after the first week of August. Administrative ministries of around 15 Public Sector Undertakings have been asked to give feedback on the feasibility of coming out with initial public offers by then.
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
The Union government's six-year initiative to unbundle state electricity boards into separate entities for power generation, transmission, distribution and trading businesses is set to be delayed further, with seven states still to do so, even as the Centre's latest time-limit expired on June 30. After 6 years of pushing, just 14 states have turned these into separate units.
With deficient monsoon reducing hydropower generation in the country by around 40 per cent, the power ministry has started stressing more on power from coal and natural gas.
Sources said the company was likely to be incorporated with the four government companies holding equity in proportion to their profits, implying that the bigger the profit size, the larger their holding. The combined holding is likely to be in the range of Rs 325 crore (Rs 3.25 billion).
the terminal will not be used to run the Dabhol power plant and would be supplied entirely to other domestic companies
Prime Minister Manmohan Singh has asked the Cabinet Committee on Economic Affairs to decide on a Planning Commission proposal to allocate a portion of power generated from Centrally-owned utilities for open access to large consumers.
The company has four lenders -- State Bank of India, IDBI, ICICI and Canara Bank. According to the Reserve Bank of India norms, these loans would be declared as NPAs if the project is not financially restructured by March 31, 2009. The restructuring exercise includes a 50 per cent hike in the tariff for sale of power from the project, to be allowed by the Central Electricity Regulatory Commission. The project is expected to become viable after this.
The Maharashtra government has offered some respite for the troubled Dabhol Power Project by agreeing to provide a guarantee for a Rs 300 crore
Planning Commission to ask Prime Minister's Office to intervene.
This supply is likely to start in the next few weeks. A proposal to hive off the terminal was turned down by the government last year after it was opposed by NTPC Ltd and Gail, which hold 28 per cent each in the project. The terminal has an LNG regassification capacity of five million tonnes per annum. It will, however, be fully operational only after the completion of the breakwater facilities in 2011.
The government may revive a proposal limiting the number of Ultra Mega Power Projects awarded per developer.
The Tilaiya project is a part of the government's showcase UMPP scheme under which a power generation capacity of around 50,000 Mw is planned to be created through 13 of such mega projects, which will come up mostly in the Twelfth Plan period.
Anil Ambani-promoted Reliance Power is likely to announce the financial closure of its 3,960-Mw Sasan ultra mega power project (UMPP) in a few weeks.
Amid concerns expressed by short-listed bidders over the ongoing financial crisis, the bids for the 4,000-Mw Tilaiya Ultra Mega Power Project in Jharkhand will be opened on December 29. "The bidding will take place as announced," said Power Secretary Anil Razdan.
Fresh addition of power capacity in the first half of the 2008-09 financial year has fallen short of target by nearly two-thirds because of delays in supply of critical components for thermal projects and non-availability of fuel for a nuclear project.
The government had earlier said it would give incentives of around Rs 12 per unit of solar power sold. Companies have, however, already lined up capacities to the tune of 3,000 Mw involving investments of around Rs 48,000 crore (Rs 480 billion). This means that of the total planned solar power capacity, only 50 Mw will be incentivised, while the rest will continue to be very expensive.
Company officials admitted that they had juxtaposed the emission data for 2005-06 with the generation data of 2007-08 to arrive at such a conclusion. This was in response to a report by Washington-based Centre for Global Development, which said NTPC was the world's third-largest polluting power producer.
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