New Delhi The government has decided not to sell the Dabhol power plant, which has been struggling thanks to huge debts it owes to the contractors.
The empowered group of ministers, however, decided to allocate the initial 40 million standard cubic metre per day of gas from KG-D6 basin to the existing power and fertiliser plants and proposed units like the captive power plant at Nagothane did not figure in the scheme of things. A company spokesperson confirmed the scrapping of the project.
Narendra Modi is India's most successful prime minister and the greatest global leader of current generation, billionaire Mukesh Ambani said on Wednesday as he flaunted his group Reliance Industries' Gujarati heritage and its over USD 150 billion (Rs 12 lakh crore) investment in last 10 years.
Hearing the petition by Tata Power against a decision of the Empowered Group of Ministers to allow use of coal from the captive mines for Sasan Ultra Mega Power Project to other projects, the Court did not give a stay and fixed the next date for hearing on February 24.
The government will not stop companies from filing fresh applications seeking permission to set up special economic zones. However, it will not process any fresh applications until it clears the backlog of over 360 pending proposals.
The empowered group of ministers, headed by External Affairs Minister Pranab Mukherjee, had imposed a 5000 hectare ceiling on SEZs last year following widespread protests over land acquisition. The meeting of the eGoM, scheduled for February 4 to review the land ceiling was cancelled.
Fresh notifications and approvals for setting up Special Economic Zones are being put on hold till an Empowered Group of Ministers looking into the matter takes a final view, Rajya Sabha was informed on Wednesday.
eGOM is likely to reconsider the 5000 hectre SEZ land ceiling limit in the coming month.
In another instance, a foreign partner of a notified SEZ had already procured equipment abroad for setting up the units but could not send them to India as all proposals were put on hold.
The government on Friday the proposals of telecom giants Motorola and Foxconn, and Singapore-based reality major Ascendas to join as partners in the Special Economic Zones coming up near Chennai.
The meeting of the empowered group of ministers on special economic zones could not reach any firm view on on Monday while the government will take the rehabilitation policy to the Cabinet next month.
Union Minister Nitin Gadkari on Tuesday launched the country's first crash testing programme Bharat NCAP aimed at improving road safety standards of motor vehicles up to 3.5 tonnes. Bharat New Car Assessment Programme (Bharat NCAP) is India's own crash testing programme and is cheaper than tests conducted abroad, Gadkari said, adding that the star ratings will help buyers understand the quality of the product and make an informed purchase decision. Bharat NCAP will be implemented from October 1, 2023.
The Adani group will have understood the fragility of investor trust in the group. The group needs to improve transparency including in areas like share-ownership (which they have long and mistakenly believed can be side-stepped) and related-party transactions, among others, Amit Tandon and Hetal Dalal point out.
"The letter approving a price of $4.20 per million British thermal unit (mBtu) for first five years of production from KG-D6 was issued by the Petroleum Ministry on Thursday," a source familiar with the development said.
The government has decided to scrap a plan to purchase wheat through a series of small domestic tenders in different parts of the country, fearing that private traders may corner most orders.
The eGoM, headed by External Affairs Minister Pranab Mukherjee, is likely to take up issues including demand from developers to revise the 5,000 hectare land ceiling for one SEZ.
CBI not to need prior approval to probe corrupt govt officials.
Maharashtra government, which is facing the heat over land acquisition for the special economic zones has written to the Centre asking it to clarify the scope of the term compulsory land acquisition.
The empowered goup of ministers on special economic zones (SEZs) on Thursday cleared 83 proposals
After violence in Nandigram, the Government has decided not to give further approvals for Special Economic Zones where acquisition of land is being resisted.
Reliance-ASA on Monday emerged as the highest financial bidder for the Delhi airport modernisation project, offering 46 per cent of revenue share to government for the work.
Airport employees have threatened to go on a nationwide strike the moment the empowered Group of Ministers opens the financial bids for the privatisation of the Delhi and Mumbai airports on Tuesday.
The government is set to exceed its 2009-10 disinvestment target of Rs 1,120 crore through the first company that is slated to go to the markets this year -- NHPC.
"Be prepared for a modest or moderate hike in the prices of petrol and diesel, after the meeting of the empowered Group of Ministers in the first week of January," M S Srinivasan, secretary, ministry of petroleum and natural gas, told reporters.
The government on Saturday said it is expected to take a decision on privatisation of Delhi and Mumbai airports at the meeting of the Empowered Group of Ministers on January 24.
The Empowered Group of Ministers on Ratnagiri Gas and Power Pvt Ltd on Wednesday decided to pool the price of gas for Dabhol
Four left parties on Wednesday asked the government to stop divestment of 35 public sector undertakings including BHEL, PowerGrid Corporation and Power Finance Corporation saying the move would adversely affect the development of PSUs and would also
The central leadership of the CPI(M) and chief ministers of the Left-ruled states of Kerala and West Bengal have discordant views on the question of a cap on the number of Special Economic Zones
The $3 billion Dabhol power plant in Maharashtra is likely to be completed by 2007-end, the Empowered Group of Ministers was informed on Thursday.
After a spirited eight-hour debate in which 60 members participated, the Lok Sabha passed the Constitution (128th Amendment) Bill, with 454 members voting in favour and two against it.
The empowered Group of Ministers, on Tuesday, recommended a hike in maximum permissible equity participation in the proposed joint venture companies -- for the airports of Mumbai and Delhi
Employees and officers of the Airports Authority of India on Friday staged a demonstration at major airports across the country to protest against the privatisation of Mumbai and Delhi airports, but flights and other operations remained unaffected.
The empowered group of ministers will take up tomorrow the modernisation plans of Delhi and Mumbai airports even as the government has cautioned low cost carriers on the present fare structure introduced by some of them.
The next six months may see the Centre notifying 100 special economic zones.
An empowered group of ministers had effected on April 5 major changes in SEZ rules, also setting the 5,000 hectare cap.
