The Rs 4,300-crore (Rs 43-billion) project -- marred by missed deadlines and cost overruns -- has finally started full scale test run last week between Ghatkopar and Versova and will open to public by mid-January.
Downstream oil sector regulator Petroleum & Natural Gas Regulatory Board had been pushing for cancellation of the authorisation given to RGTIL.
DMRC, Reliance Infra go for arbitration.
Mukesh Ambani-led Reliance Industries Ltd wants to merge four of its associate companies in real estate with its main property development subsidiary, Reliance Commercial Land and Infrastructure Ltd, under the scheme of amalgamation proposed before the Bombay High Court.
The project, located 65 km north-west of the Alpha township, will rely on the railway infrastructure of the Alpha Coal project to transport coal to the Port of Abbot Point, Bowen.
Valuation slips on rights cancellation; OIL pulls out, GAIL puts plan on ice.
The company said that the scheme of amalgamation has been approved by the Gujarat High Court and the merger has been effective from October 22.
The ministry refused to buy RGTIL's argument that the government has already allocated all of the projected mmscmd of gas output from the KG-D6 fields to customers in Andhra Pradesh, Maharasthra and other northern states, leaving no gas for transportation through its proposed pipelines from Kakinada to Howrah, Chennai, Tuticorin and Mangalore.
RIL holds 45.43 per cent stake in RIIL as its promoter.
Property of Rs 3,500 crore belonging to the company was seized by the EOW, a police official said.
Crisis-hit HDIL on Tuesday said that loans taken from banks including Punjab and Maharashtra Cooperative Bank were in normal course of business after providing adequate security cover and that it is ready to discuss with the bank to protect the interest of depositors.
The project holds strategic significance as Zojila Pass is situated at an altitude of 11,578 feet on the Srinagar-Kargil-Leh National Highway and remains closed during winters due to heavy snowfall.
After agreeing to sell 30 per cent stake in the 23 blocks in India to BP, Mukesh Ambani is reportedly looking for buyers for its gas transportation and marketing company.
BSE imposed a special margin of 25 per cent on Ocean Infrastructure Ltd with effect from Thursday.
Billionaire Gautam Adani's Adani group on Monday said it has reached an agreement to acquire GVK group's shareholding and control of Mumbai airport.
Bangalore-based infra major GMR Infrastructure Ltd has completed divestment of 50 per cent stake in global power generation company InterGen to China Huaneng Group (CHG), said the company.
Oil regulator PNGRB has approved the tariff that billionaire Mukesh Ambani-owned East-West pipeline will charge for transporting gas from fields off the east coast to users.
The consortium beat six others at an auction on Thursday
The company, which is bullish on its growth prospects, plans to double the gold coin sales from the current 1,000 kg by the end of the current financial year.
Oil regulator PNGRB on Monday approved the tariff that Mukesh Ambani-owned East-West pipeline will charge for transporting gas from Reliance Industries' eastern offshore KG-D6 fields to users.
The company is hopeful of acquiring 600 acres of land by January 2010.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
Tata Realty and Infrastructure Ltd, a 100 per cent subsidiary of Tata Sons Ltd, will invest Rs 3,500 crore (Rs 35 billion) in setting up an information technology Special Economic Zone at Taramani, Chennai. The project will have both commercial and residential projects.
It also demanded Prime Minister Manmohan Singh to clarify on supply of gas and its price from RIL-operated fields.
The board of directors have proposed a dividend of Rs 3.50 per share on the face value of Rs 10 per share to the shareholders.
R-Infra quoted Rs 42-crore (Rs 420-million) premium over the bids of rival companies such as GVK Power and Infrastructure Limited, GMR Infrastructure, B Sennaih and C&C, JMC Srei and Sadhbhav, sources told Business Standard.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Maytas Infrastructure Ltd, the listed company floated by the promoters of Satyam Computer Services, plans to raise Rs 800 crore to Rs 1,000 crore through asset sales plus loan and guarantees from banks to complete various projects, including the prestigious Hyderabad Metro, and to bid for some new projects that are coming up for auction.
Very little notice, however, has been taken of the fact that Reliance Gas Transportation and Infrastructure Ltd, which set up the pipeline network for transport of this gas which has had rival users clamouring for government priority, is no longer owned by RIL, but by the latter's chairman and managing director, Mukesh Ambani. The change took place three years earlier and went largely unnoticed, even though RGTIL is crucial for RIL's burgeoning gas business.
The company, which is bidding for 16 road projects worth Rs 10,000 crore (Rs 100 billion) this year from the National Highways Authority of India under the public-private-partnership model, intends to invest the money in the form of equity to set up special purpose vehicles to execute new road projects.
Tata Consultancy Services (TCS) is likely to delay its Rajarhat campus in West Bengal, as part of a string of cost-management initiatives to cope with the pangs of the global meltdown.
An 18-month to two-year delay is expected in the Mumbai airport slum rehabilitation programme to find alternative land to relocate and resettle approximately 80,000 slum-dwellers, who have encroached on 276 acres of airport land.
After the controversy over pricing of gas from the Krishna-Godavari basin, the Ambani brothers are locked in another court battle.
Billionaire Mukesh Ambani on Monday became the richest person in the world, surpassing American software czar Bill Gates, Mexican business tycoon Carlos Slim Helu and famous investment guru Warren Buffett, courtesy the bull run in the stock market.
A major chunk of this FDI would flow through induction of foreign stake in telecom infrastructure provider Aster Infrastructure Ltd. The Secunderabad-based company plans to hike foreign stake to 72.5 per cent for Rs 232.58 crore (Rs 2.32 billion).
The only company left in the race for the Rs 2,600-crore (Rs 26 billion) project is Mukesh Ambani-controlled Sea King Infrastructure Ltd as other bidders have withdrawn from the race.
"We have held talks with equipment as well as fuel suppliers and will firm up a plan in the next one years time," GMR Energy Executive Vice-President Avinash R Shah told reporters. GMR Energy is a unit of GMR Infrastructure Ltd. Shah said the company has hired very experienced people from state-owned Nuclear Power Corporation, including former Chairman and Managing Director M R Srinivasan, for its nuclear foray.
Housing Development Infrastructure Ltd (HDIL) on Monday said a 20-25 per cent price fall is likely in the country's real estate sector, but Mumbai may be slightly insulated as it may witness a 10-15 price correction in prices.
The Tamil Nadu government on Monday entered into a joint venture with Hyderabad-based GMR Infrastructure Ltd to set up a multi-product Special Economic Zone in the state's Krishnagiri district at a cost of Rs 2,300 crore (Rs 23 billion).
Anil Ambani-led company Reliance Communications appointed JP Morgan as the merchant banker on Monday to look for strategic buyers for its wholly-owned tower subsidiary Reliance Telecom Infrastructure Ltd.
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