Fertiliser firms to enjoy priority in gas supplies
An empowered group of ministers (EGoM) decided that fertiliser plants will continue to receive top priority in natural gas supply. The EGoM headed by defence minister AK Antony debated a proposal to give equal status in natural gas allocation to both fertiliser and power sectors. This would have enabled a part of the fuel currently consumed by urea plants to be diverted to fuel-starved power plants. But the EGoM decided against it. The group will meet again on Thursday (July 25) to consider making available natural gas to power plants from sources other than Reliance Industries KG-D6 fields. It could also finalise fresh bidding norms for ultra mega power projects.
L&T Metro Rail in talks with IIFCL to raise Re1,000 crore
L&T Metro Rail (Hyderabad) is in talks with India Infrastructure Finance Co Ltd to raise R1,000 crore through the external commercial borrowing route to fund the Hyderabad metro project. L&T is developing the R16,500-crore project, which is the biggest urban infrastructure project taken up as a public-private partnership in India. The elevated metro rail project will have three corridors, covering a distance 71.16 km and 66 stations. Banks have lent over R11,000 crore as term loans. The Centre has also approved a viability gap funding of R1,458 crore. The advantage of ECB is that we get long-term loans ranging for 25 years, L&T Metro Rail (Hyderabad) Ltd CEO and MD VB Gadgil said.
Govt to slap show-cause notices on 27 coal block allottees
The coal ministry has decided to slap show-cause notices on allottees of 27 captive coal mines for delaying production and seek explanations from another 21 mine-holders for not developing the mines on time. The steps come on the heels of an inter-ministerial group recommending issue of show-cause notices to companies, including Jindal Steel and Power, Hindustan Zinc and Ultratech, for delaying production from around 40 mines.