Idea Cellular has completed the sale of its pan-Indian stand-alone tower business, by way of divesting its entire stake in ICISL, a wholly owned subsidiary, to ATC Telecom Infrastructure Private Limited (ATC). The transaction was […]
Larsen & Toubro (L&T) has inked a definitive agreement with a consortium comprising Schneider Electric SE and Singapore state investor Temasek Holdings Pte to sell its electrical and automation business worth $2.1 billion (Rs 140 […]
Tata Power Limited, Sterlite Power Transmission Limited, CLP India Private Limited and Edelweiss Financial Services have emerged as the top bidders for acquiring $1 billion worth of Essel Infraprojects Limited’s power transmission projects. Essel Infraprojects […]
The debt-ridden GVK Group is reportedly in talks to sell two of its gas-based power projects with a combined installed capacity of 684 MW to Andhra Pradesh power utilities in order to settle debt of […]
The Department of Telecommunications (DoT) has approved the merger of Telenor India with Bharti Airtel. The National Company Law Tribunal had approved the proposed merger on March 8, 2018. The merger will increase Airtel’s spectrum […]
The Hinduja Power Corporation has acquired Mumbai-based Kiran Energy Solar Power for an all-cash deal. The enterprise value of the deal has been pegged at Rs 9 billion-Rs 9.5 billion. The deal was facilitated by […]
Reliance Power Limited has sold its 3,960 MW Tilaiya ultra mega power project (UMPP) for Rs 1.12 billion to state-run Jharkhand Urja Vikas Nigam Limited. The company has transferred its entire holding of Rs 1.5 […]
The Uttar Pradesh government has signed an MoU with the Yamuna Expressway Industrial Development Authority (YEIDA), and the Noida and Greater Noida industrial development authorities to monitor and fast-track work on the proposed Jewar greenfield […]
Turkish ground-handling firm Çelebi Airport Services has been awarded the licence to run ground-handling operations at the Bengaluru international airport for a concession of 10 years. The concession, which will commence from August 2018, lets […]
The central government has failed to receive expressions of interest (EoIs) from bidders for buying out a 76 per cent equity stake in Air India. Not even a single bidder participated in the bidding process […]
The Airports Economic Regulatory Authority of India (AERA) has proposed a 74 per cent cut in the user development fee (UDF) on both international and domestic flights at the Kempegowda international airport. Currently, passengers are […]
The union cabinet chaired by the prime minister approved the National Policy on Biofuels, 2018, on May 16, 2018. The policy classifies biofuels into 1G, 2G and 3G to provide appropriate financial and fiscal incentives […]
The Directorate General of Hydrocarbons (DGH) opened the second round of auctions under the Discovered Small Field Programme – DSF-II – to investors on May 14, 2018. The auction offers 26 contract areas made up […]
India received the first consignment of 2 million barrels of crude oil for the strategic petroleum reserve at Mangalore from the United Arab Emirates (UAE) on May 15, 2018. This is expected to help the […]
The Oil and Natural Gas Corporation (ONGC) has started commercial oil and gas production from its Nagayalanka block in the Krishna-Godavari (KG) basin. ONGC owns a 51 per cent stake in the project, while Cairn […]
The government has received 13 EoIs from companies under the second round of Open Acreage Licensing Policy (OALP) auctions. The window for submitting EoIs was closed on May 15, 2018. India has adopted a new […]
The Uttar Pradesh cabinet has given its go-ahead to Green Gas Limited’s (GGL) proposal for setting up piped natural gas (PNG) connections in the state. Agra and Lucknow have been chosen as the first cities […]
Indraprastha Gas Limited (IGL) has signed an MoU with Petronet LNG Limited (PLL) for setting up liquefied natural gas (LNG) infrastructure in India and abroad. The two entities may also jointly bid for geographic areas […]
India received its first LNG shipment from Russia’s Gazprom at Petronet’s Dahej LNG terminal on June 4, 2018. As per the Ministry of Petroleum and Natural Gas, India will be importing $1.5 billion worth of […]
The Ministry of Shipping (MoS) has allowed relaxation under Section 407 of the Merchant Shipping Act, 1958, for the coastal movement of export-import (exim) transshipment containers and empty containers. It has allowed foreign flag container […]
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