Quick View : Essar Power plans foray into distribution business
Aiming to become an integrated power company, Essar Power plans to enter the electricity distribution business and has applied for licences in Maharashtra and Bihar. “Power distribution is an area we have been evaluating and while we have applied for a Mumbai licence, this process is in its preliminary stage and only after a detailed analysis of this opportunity will we make any binding commitment,” an Essar Group spokesperson said.
Brahmaputra Fert plans R3,600-crore expansion
The fertiliser ministry is looking for a joint venture partner for Brahmaputra Valley Fertiliser Corporation that plans to set up a brownfield urea plant in Assam at an investment of R3,600 crore. “We are in discussions with several companies, including Oil India, for financing the expansion project of Brahmaputra Valley Fertiliser through a joint venture,” a senior fertiliser ministry official said.
Kingfisher importing ATF is bad economics: Oil cos
As the government mulls allowing Kingfisher Airlines to import aviation turbine fuel (ATF) directly, oil companies have opposed the move saying the proposal was ‘bad economics’ for the beleaguered airline in view of high taxes and handling cost. In a detailed response to the application made by Kingfisher to import ATF directly, oil firms said that India is surplus in jet fuel and exports half of its production annually, official sources said. Allowing direct import of ATF may lead to avoidable simultaneous import/export of ATF and undue burden on port infrastructure in the country, the oil firms said.
NMDC-Minemakers deal likely by mid-Feb
State-run NMDC is
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