BPCL to sell its stake in Numaligarh Refinery for Rs 9,880 cr; Engineers India, OIL to bid jointly

Public Sector Unit, Bharat Petroleum Corporation (BPCL) is planning to offload its entre holding in Numaligarh Refinery Ltd for Rs 9,878 crore ($1.3 billion) as part of its own privatisation process. The country’s second-biggest state-owned refiner will sell its 61.65% holding in Numaligarh Refinery to a consortium of Oil India Ltd. and Engineers India Ltd. […]

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Mismanagement by state-run energy firms cost India Rs 169 crore: CAG

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In a report tabled in the parliament, the Comptroller and Auditor General (CAG) noted that BHEL suffered a loss of 3.83 million euros (Rs 28.35 crore) as Turkey-based Electrik Uretim AS Genel Mudurlugu (EUAS) encashed BHEL’s performance bank guarantee after the state-run firm failed to submit the requisite documents on time. EUAS also terminated BHEL’s […]

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ATMA to invest Rs 1,100 crore to encourage rubber plantation in northeast India

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Industry body Automotive Tyre Manufactures Association (ATMA) will invest Rs 1,100 crore to undertake rubber plantation in additional 2,00,000 hectares of land in northeast India in the next five years. Union Commerce and Industry Minister Piyush Goyal, while participating in a virtual seminar, thanked ATMA for agreeing to invest Rs 1,100 crore for developing a plantation in […]

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NHPC to commission 2,000 MW hydropower project on Subansiri near Arunachal-Assam border by March 2022

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PSU major NHPC Ltd will finally be able to commission the 2,000 MW Subansiri hydropower project by March 2022, which has been stalled for nearly eight years due to intense protests by many groups in Assam.  Construction work of the ambitious project at Gerukamukh along the Assam-Arunachal Pradesh border on Subansiri river was halted from December 2011 […]

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