State-owned Coal India Ltd (CIL) and ArcelorMittal Nippon Steel India (AMNS) have signed an MoU to explore setting up a coal gasification plant near AMNS's Paradip pellet plant in Odisha. This initiative aims to produce synthesis gas for cleaner steel production, reduce reliance on imported fuels, and align with India's goal of gasifying 100 million tonnes of coal by 2030, supported by a Rs 37,500-crore government incentive scheme.
Finance Minister Nirmala Sitharaman on Sunday proposed to reduce the tax collection at source (TCS) rate to 2 per cent for education and medical purposes under Liberalised Remittance Scheme (LRS) as well as on sale of overseas tour program package.
The Centre has proposed allowing captive mine owners to sell minerals in the open market after meeting the requirement of their linked end-use plants, as part of a broader overhaul of mineral concession rules aimed at easing operational restrictions and encouraging deeper mineral exploration.
Neyveli Lignite Corporation Ltd decided to close fertiliser unit.
Power generation and lignite mining, which were totally paralysed due to the strike, commenced at 9:30 pm.
Operations in the Neyveli Lignite Corporation remained paralysed as the indefinite strike by its workers protesting the Centre's decision to disinvest 10 per cent shares in the public sector company entered the third day on Thursday.
Neyveli Lignite Corporation Ltd's board will meet on January 28 to consider unaudited financial results for the quarter ended December 31, 2002.
Neyveli Lignite Corporation Ltd has posted a net profit of Rs 1860.90 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 1966.50 million in the quarter ended December 31,2001.
The notification issued by the Union Environment Ministry also exempts projects pertaining to the expansion of terminal buildings at airports (without an increase in the existing area of the airport) from seeking green nod.
This includes distancing themselves from the new and emerging super-critical technology.
It aims at tackling issues such as child labour, mistreatment of workers, and denial of basic wages, among others. There will also be penalties for non-compliance.
Tata Steel has built an iron ore chest of nearly 600 million tonnes (mt) and will look for more as it prepares for life beyond 2030 when its legacy captive mines come up for auction. The lease for four of its existing iron ore mines -- Joda East, Noamundi, Katamati, and Khondbond -- that feed the domestic operation with low-cost iron ore is going to expire in 2030, following changes in mining regulations. The year will also coincide with Tata Steel's ambitious target of doubling steelmaking capacity in India to 40 mt, increasing the need for iron ore. The company is pushing the pedal to ensure that it has enough resources to meet enhanced needs.
The Union Government on Thursday said that 5.9 million tonnes of lithium reserves have been found for the first time in the country in Jammu and Kashmir. Lithium is a non-ferrous metal and is one of the key components in EV batteries. "Geological Survey of India for the first time established Lithium inferred resources (G3) of 5.9 million tonnes in the Salal-Haimana area of the Reasi district of Jammu and Kashmir," the ministry of mines said on Thursday.
India offers policy stability, transparency and consultative process of governance to incubate investment, Finance Minister Nirmala Sitharaman said on Thursday as she invited investments in prospecting energy resources in the country. Stressing that there is a need for investments in coal, she said, "We need greater investments also to help in gasification of coal. I invite all of you to energetically participate in the (sixth round of commercial mines) auction processes which have been launched today and keep your options also further extended for greater extraction of minerals in India." During this 'Amrit Kaal', India needs all the basic minerals as the country is in the process of rapid growth, she added.
Lignite contributes large part of total royalty income in the state. Lignite production in Gujarat is estimated to be decline by 10 lakh tonnes this year on account of closure of Panandhro mines, according to government sources. Last year, the lignite production in the state stood at 99 lakhs (9.9 million) tonnes resulting into a royalty income of appoximately Rs 50 crore (Rs 500 million).
In a bid to boost agriculture infrastructure, the government on Monday announced a cess on certain items, including petrol, diesel, gold and some imported agricultural products. While proposing the Agriculture Infrastructure and Development Cess (AIDC), Finance Minister Nirmala Sitharaman also said that care has been taken not to put additional burden on consumers on most items. There is an immediate need to improve agricultural infrastructure so that we produce more, while also conserving and processing agricultural output efficiently, the minister said in her Budget Speech in Lok Sabha.
The much-anticipated cryptocurrency bill, however, is missing from the list, reports Shrimi Choudhary.
Local head of a farmers' group alleged that the police manhandled the protesters, including women and children, and in the process at least five people were injured.
Since January this year, Indian exporters have begun to dread the shipping news. That's because most of it would be about another lot of shipping companies deciding to avoid Indian ports on account of delays.
The mishap occurred at the fifth unit of the thermal power station-II (210 MW x 7) when workers were in the process of resuming operations on Wednesday morning.
Marumalarchi Dravida Munnetra Kazhagam leader Vaiko was arrested in Neyveli, Tamil Nadu, when he and party workers tried to picket the Neyveli Lignite Corporation office, demanding that the public sector unit stop power supply to Karnataka, which has stopped release of Cauvery water to Tamil Nadu.
The massive electricity grid failure earlier this week, that left a majority of India in darkness, has impacted the volumes of power generation companies. The worst power black-out in the world hit their revenues by an estimated Rs 550 crore (Rs 5.5 billion) in two days.
After a 10-month probe, the Central Bureau of Investigation has decided to file a closure report in the coal block allocation case involving industrialist Kumar Mangalam Birla and former Coal Secretary P C Parakh as the agency could not find any evidence in this matter.
The government on Friday approved sale of its minority stakes in four public sector firms -- Hindustan Copper, Oil India, MMTC and Nalco-- to raise up to Rs 15,000 crore.
The lands of some 174 families of Barsingsar village had in 1987 been acquired by the Neyveli Lignite Corporation Limited for establishing a power project.
The government on Thursday decided to sell 10 per cent shares in Nalco and Neyveli Lignite Corporation.
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 agreement formalises the US Trade and Development Agency's programme with Indian public sector undertakings and cover activities like project preparation, trade capacity building, investment analysis and sectoral development.
Mukherjee and Gandhi arrived in Barmer by a special Indian Air force aircraft and were making aerial survey of Budaberi and Malwa villages in the frontier Barmer district.
Aditya Birla flagship Hindalco Industries on Monday said it has entered into a joint venture with Mahanadi Coal Ltd (MCL) and Neyveli Lignite Corporation (NLC) for carrying out mining activities.
In an earlier analysis for the period till April 26, it had been found that of the 365 items in the WPI, the index for as many as 166 items had not been revised for more than four months. The latest analysis as of June 21 shows that the index for around 55 of these 166 items has been revised. In effect, only one-third of the items have seen an index revision. During this period, headline inflation has moved from 8.27 per cent to 11.63 per cent.
Post a correction 14,000 cannot be ruled out post March 2007 results.
A special court on Monday asked the Central Bureau of Investigation to clarify whether "rule of law" was followed in allocation of coal blocks to top industrialist Kumar Mangalam Birla's Hindalco.
In Chennai, rains are expected to start early Thursday morning and intensify gradually. Government schools in the city have been shut down for the next two days
Mining and power generation at the public sector Neyveli Lignite Corporation came to a standstill
Government headhunters Public Enterprise Selection Board selected Srinivasan after interviewing 11 candidates at its office in New Delhi on Tuesday.
