Videocon group has signed an agreement with West Bengal government to set up a steel plant and a power project in the state with total investment of about Rs 15,000 crore.Videocon, which already has interests in oil and gas, plans to establish a three million tonne steel plant and a 1,200 MW thermal power project in Asansol-Durgapur area in Burdwan district.
Sasan Power Ltd, the special purpose vehicle floated by Power Finance Corporation for the 4,000 MW project, will on Wednesday issue the Letter of Intent to Reliance Power Ltd.
ONGC is considering selling up to 25 per cent of the equity shares in ONGC Petro-additions Ltd (OPaL), the special purpose vehicle formed for setting up the petrochemical complex at Dahej SEZ, a senior company official said. It plans to give 19 per cent equity stake in OPaL to state-run gas utility GAIL India, while another 25 per cent interest may be offered to Petronet LNG and Bharat Petroleum or a strategic partner.
The oil and gas major ONGC is likely to offload 34 per cent equity in its special purpose vehicle ONGC Petro-additions formed for the upcoming Rs 13,500-crore
Real estate private equity fund Indiareit will invest Rs 250 crore (Rs 2.5 billion) in the proposed 138-acre township promoted by the Pune-based Paranjape Schemes Construction Ltd.
Tata Steel said on Tuesday its Board will meet on April 17 to discuss plans for funding the $12 billion acquisition of Anglo-Dutch firm Corus Group Plc.
A V Metals -- the A V Birla group's Canada-based special purpose vehicle -- will infuse $3.5 billion to finance Hindalco Industries' proposed acquisition of the Atlanta-based aluminium downstream major Novelis Inc.
GAIL India will hold 28 per cent stake in the special purpose vehicle, being set up for the revival of $2.9 billion Dabhol power project.
Announcing the Cabinet Committee on Economic Affairs decision, Finance Minister P Chidambaram said a Special Purpose Vehicle would be set up for the project.
The acquisition will help JK Tyre gain access to the world's largest auto market in the United States in addition to some distant markets of central and south America.
The ideal way will be to sterilise the inflow, build reserves and push liquidity into system.
National Thermal Power Corp, Gas Authority of India Ltd and Indian lenders will contribute Rs 500 crore (Rs 5 billion) each as equity
The government on Monday said the financial system has a surplus liquidity of about Rs 1,00,000 crore (Rs 1 trillion) in the system due to huge foreign exchange flows.
'The ruling does not automatically mean that your house can be taken away, but suppose it blocks an expressway or a highway or such essential development, then it can be taken away as long as there is a law to support that action.'
India will develop underground natural gas storage facilities as an insurance against disruption and supply shortfall.
The bank has agreed to provide up to $1 billion to Tata Steel's special purpose vehicle, Tata Steel UK, to refinance $7.2 billion of bridge loans taken for the biggest buyout by an Indian company.
State-run Gail (India) Ltd on Friday approved Rs 500 crore (Rs 5 billion) investment in Ratnagiri Gas and Power Pvt Ltd, the special purpose vehicle created to restart Dabhol power plant in Ratnagiri, Maharashtra.
The Supreme Court on Wednesday put an end to the vexatious litigation between shareholders of Dabhol Power Corporation - GE and Bechtel - and the Maharashtra government following an out-of-court settlement.
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