Hemant Shivsaran lists the number of projects the Modi government has announced since August to woo Gujarat voters.
Apart from being the most successful cases under the IBC, Bhushan Steel and Essar Steel are among the best steel assets in the country. They also ended up helping their lenders get back a significant chunk of the money while allowing Tata Steel to consolidate its position and giving the world's two largest steel makers - ArcelorMittal and Nippon Steel - a strong foothold in India. A significant contrast was the pace at which these two cases were resolved under the bankruptcy code. In the annals of the Insolvency and Bankruptcy Code (IBC), Essar Steel may go down in history as the most noticeable resolution with the world's largest steelmaker, ArcelorMittal, and the incumbent, Ruia family, locked in an intense battle spanning more than two years and ultimately resulting in full recovery of the principal amount for the financial creditors.
A major fire broke out on Saturday at a petrol storage tank of state-owned Indian Oil Corp's Hazira terminal in Gujarat.
The presence of the private sector at a prestigious military training institution is an important acknowledgement of its growing capabilities in designing and manufacturing cutting edge aerospace and defence equipment, reports Ajai Shukla.
Production at India's largest gas fields Bassein and Panna/Mukta and Tapti in Mumbai offshore has been stopped, following flooding of Oil and Natural Gas Corp's processing plant at Hazira in Gujarat.
The fast interceptor craft delivered can patrol the coastline at a scorching speed of 45 knots.
The move comes days after the Indian Navy also warned of a possible terror attack from the sea side.
The blaze erupted around 7 am in the gas processing plant of the ONGC located in Uran area of neighbouring Navi Mumbai, an official said.
The case relates to alleged wrong classification of mixed xylene
The department of commerce may de-recognise the 247-hectare engineering special economic zone at Hazira, promoted by Essar Hazira SEZ Ltd.
'It has taken us 15 years to get to where we are. It obviously doesn't happen overnight.'
State-run Hindustan Petroleum Corporation Ltd on Wednesday said it was in advanced stages of talks with Shell India for picking up stake in its Hazira LNG terminal in Gujarat and a deal was possible this fiscal.
Two persons were killed in the major fire in storage tank number four of Indian Oil Corporation terminal in Hazira , Surat, which was contained after a 21-hour operation by the fire brigade team, officials said Sunday.
The company is building floating LNG terminal in joint venture Reliance Power.
The companies are in talks with Shell, Petronet LNG to book capacity
Ruias to sell Essar Steel stake to strategic partners.
Private sector engineering major Larsen & Toubro has said that China is systematically killing Indian manufacturing sector and sought 25 per cent anti-dumping duty on Chinese goods.
Engineering and construction major Larsen & Toubro would recruit nearly 10,000 people over the next three years for executing its various projects, company sources said on Friday.
Billionaire Mukesh Ambani's Reliance Industries has announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by selling stakes to global investors like Saudi Aramco.
Total, which had a few weeks back exited Royal Dutch Shell-led Hazira LNG import terminal in Gujarat, will join Adani in developing a 5 million tonnes a year import facility at Dhamra in Odisha. The two will also set up a joint venture to roll out a fuel retail network of 1,500 outlets, mostly on highways, in the next 10 years, Adani and Total said in a joint statement.
The government has already decided to accord priority to fertiliser and power units for allocation of gas from the Krishna-Godavari basin. According to sources, the empowered group of ministers on gas, which met last week, has made it clear it will be able to provide additional gas to steel firms only after meeting the requirements of the power and fertiliser units. Among the steel majors, Essar, Ispat and Vikram Ispat have gas-based units.
Mumbai High during normal days produces 2,42,000 barrel per day (bpd) of crude oil while another 70,000 bpd is contributed by Heera and Neelam fields. The rest comes from South Bassein field, all lying off the west coast. Natural gas production from these fields had fallen to almost nil, impacting supply to industry and city gas operations in Mumbai.
Shell had last imported LNG cargo at its Hazira Terminal in Gujarat on Oct 13, 2008 from Trinidad and Tobago at $20.5 per mmbtu. On the $9.06 per mmBtu import price, a five per cent custom duty will be levied, taking the landed cost to $9.4 per mmBtu.
This decision will come as a relief to Essar's multi-product port-based SEZ project in Hazira as well as of Adani Group's zone in Mundra, which the revenue department felt was not built on vacant land when it was notified, and hence it had violated the law. Both the zones are in Gujarat.
Dhirubhai may or may not have owned the government; it would seem his son wants to own the market, notes T N Ninan.
Petroleum Minister Murli Deora reviewed the impact of floods in Gujarat on oil installations and supply of products on Thursday.
For long, the Gujarat government has been hard-selling the sea of business opportunities that its 1,600-km long coastline offers.
Even as the SEZ Board of Approval meeting, held in New Delhi on Thursday, deferred taking a decision on Essar's request to link its steel-based zone at Hazira
Adani Group-led by billionaire Gautam Adani on Thursday pledged to invest Rs 20,000 crore in Madhya Pradesh during the next five years in various projects.
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.
"There is no change in situation. It may take a couple of days for the water to recede and restart of the facility," an ONGC official said.\n\n
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