The company emerged successful in the revised evaluated bids for the project.
The first-phase of the three-phase project is to set up the trade tower on over 4 million sq. ft area. The second phase is to develop the business district on 30 acres in seven years. In the third phase the remaining 16.28 acres of the business district on would be developed.
Anil Ambani group firm Reliance Energy on Tuesday said it has bought shares worth over Rs 230 crore, representing nearly 30 per cent of the buyback offer.Reliance Energy bought back 81,680 equity shares on Tuesday, it added. The last date for the buyback would be March 4, 2009, a year from the date of the Board's approval for the offer.
A formal announcement of the name of the winner is expected to be made in a day or two, sources close to the development said. Other bidders in the race are believed to be infrastructure major Larsen & Toubro and a consortium led by GE.
The Anil Ambani group firm is the sole bidder for the engineering, procurement and construction contract for DVC's proposed 1,000 MW thermal power plant at Raghunathpur in Purulia district of West Bengal.
The power ministry is considering asking Reliance Energy to match the price offered by the Lanco Infratech-Globeleq consortium for power from the Sasan ultra mega power project.
The Reliance-Anil Dhirubhai Ambani Group on Friday announced a tentative schedule for merger of two firms transferred from Mukesh Ambani group.
Congress MPs Sanjay Nirupam and Priya Dutt on Monday led a protest morcha outside the Reliance Energy office in suburban Kandivli, seeking reduction in power tariffs in the metropolis.
Maharashtra chief minister Vilas Rao Deshmukh announced on Thursday sanctiong of Rs 2,356 crore for the first corridor of Varsova-Andheri-Ghatkopar rail project jointly to Anil Ambani group company Reliance Energy and MMRDA.
Reliance Energy Limited started work at the project site of 7,480 MW gas-fired Dadri power plant in Uttar Pradesh on Thursday.\n
Ambani-owned Reliance Energy is likely to bid for potential gas bearing blocks on offer under NELP-VI
Lanco Infratech has emerged as the lowest bidder for the 4,000 MW Sasan ultra mega power project, outsmarting its nearest rivals Reliance Energy and Tata Power as well as seven other contenders.
Finance Minister P Chidambaram on Friday took stock of the power ministry's ambitious plans to set up five ultra mega power projects of 4,000 MW each envisaging an investment of Rs 75,000 crore
In a major blow to Reliance Energy's plans to expand its business in power sector, the Central Electricity Regulatory Commission has rejected the application of the Anil Ambani-controlled company for a transmission licence.
Anil Ambani-owned Reliance Energy has approached state-owned gas utility GAIL (India) Ltd for transportation of gas to its proposed 4,000 MW power plant at Dadri.
Reliance Energy also said that a 'load management charge' will be levied on all consumers, whose consumption exceeds 500 units per month in the billing months of May and June.
As soon as the amended Atomic Energy Act is cleared, Reliance Energy would be the first company to come forward to set up nuclear power plants
The Reliance Group power utility BSES Ltd is to set up two new corporate entities to pursue opportunities in transmission and energy trading sectors.
A bench headed Justice Altamas Kabir, while pronouncing the judgement, refused Reliance Energy's contention that Tata Power had licence to supply power to only bulk customers.
The Sensex took less than two years to rally from the 10,000-mark it first hit in February 2006 to double that on that New Year's Eve.
The Union government has threatened to cancel coal block allocations of as many as 17 companies for failure to develop those allotted to them years before. These include big companies such as Tata Iron and Steel, Sterlite Energy, GMR Energy, ArcelorMittal India, Reliance Energy, GVK Power, Lanco Group and Rungta Mines.
The Enforcement Directorate, which is investigating possible violations of the Foreign Exchange Management Act by some former UBS employees, has written to the UK's Financial Services Authority, seeking details of the alleged misuse of accounts of Anil Dhirubhai Ambani Group-controlled Reliance Energy and Reliance Natural Resources.
Besides seeking vacation of the apex court's interim order, which stayed the electricity tribunal's judgement on May 14, Reliance also sought a direction to Maharashtra Electricity Regulatory Commission to allocate TPC's generating capacity as was done for financial years 2006-07 and 2007-08.
Saturday will be the last time the Mumbai Mirror will hit newsstands as a daily. Two Saturdays ago, its owners, the Times of India group, shocked the city by deciding to convert the Mirror into a weekly newspaper. Jyoti Punwani salutes the Mirror and its editor, Meenal Baghel, for its pathbreaking journalism.
Swiss bank UBS has been fined Pounds 8 million in the United Kingdom after four of its senior employees were found misusing funds of customers, including two companies of Indian industrialist Anil Ambani-led group.
That the Anil Ambani-owned Reliance Energy Limited (REL) will be affected by the Allahabad High Court's decision on the land acquired by it for its 7,500 Mw Dadri power plant is obvious since the entire process of inviting objections to the acquisition has to be initiated from scratch.
Indian business tycoon Anil Ambani is in talks to take English Premier League club Newcastle United, it was reported on Sunday. British weekly newspaper News of the World said Ambani, the sixth richest man in the world, is already in negotiations with club owner Mike Ashley for a reported 260 million pounds (US $ 510 million) takeover.
Reliance Industries has acquired 1,36,22,707 equity shares of Reliance Energy from Reliance Industrial Investments and Holdings, a wholly-owned subsidiary of the company, on June 30 2005.
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