Search Result for : Electricity

By Abin Daya Change is an unavoidable part of life - and of doing business. One of the biggest changes to the way we do business happened last Friday, with the rolling out of the GST. Yes, there will be disruptions in the short term and the cost of compliance will go up. Also, many small businesses will lose the tax arbitrage that enabled them to price below that of the larger companies. It will also increase the financing cost of business, particularly for those engaged in foreign trade. Speaking of financing, even that is not going to be easy. While credit growth is down because of low credit demand driven by the leveraged position of corporates combined with muted demand, even where businesses ...

The Dollar Business Bureau China will ban the imports of coal from July 1 at small ports, according to a report by the state-run newspaper - China Securities Times on Wednesday. China, the world's largest coal consumer, tightens the supply of this fuel as part of its efforts to manage glut as well as smog. The move to ban coal imports is one of the latest attempts by the country to control the coal supply during summer and also to support the prices, which have fluctuated in the previous year in the wake of a series of regulations which are aimed to keep the prices of the fuel high enough so that they can support the miners.  The ban will only cover tier II ports that were set up with approvals ...

The Dollar Business Bureau One of the top major ports in the country, the VO Chidambaranar (VOC) Port and Tamil Nadu’s Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) inked an agreement today to increase the capacities of two coal jetties at the port four-fold to 24 million tonnes for Rs 800 crore. The pact will upgrade two coal jetties at VOC Port - Jetty I and II -- from 6.25 MTPA (million tonne per annum) to 24 MTPA. The Ministry of Shipping in a press a statement said: "The VOCP Trust signed a Memorandum of Understanding with Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) for the upgradation of Coal Jetty I and II.” The Minister for Shipping Nitin Gadkari said that coal ...

The Dollar Business Bureau The Office of the Economic Advisor and the Ministry of Commerce and Industry in India released the first compilation of Index of Industrial Production (IIP) taking the base year as 1937. They had covered 15 industries then. Subsequently, the base years underwent a revision twice, 1946 and 1951 With the commencement of the Central Statistical Organization in 1951, the task of compiling and publishing the IIP was entrusted in this office. Since then the IIP has been released monthly by the CSO. The initial general scope of the IIP included details of the Manufacturing, Mining, Electricity, Construction and Gas sectors. But due to challenges in obtaining data, the present IIP has details of the Manufacturing, Mining and Electricity sectors ...

By Abin Daya It is very rare that you will find a month in which all the 8 core sector industries have had positive growth. No, it did not happen in Feb 2017; but it happened a year back – in Feb 2016! Before that it happened in 2010 – that too, three months in a row! In the case of Feb 2016, what made the month even more special was that 4 out of 8 core sector industries grew in double digits! Understandably, when something like that happens, you expect a significantly high rate of growth for the sector. Core sector grew at 9.4% in Feb 2016. Compare that with the core sector performance a year later, in Feb 2017. Such a ...

The Dollar Business Bureau Lanco Infratech on Tuesday reported a net loss of Rs.813.66 crore during October-December 2016-17, dragged down by a decline in its operational income. The company had registered a net profit of Rs.35.48 crore during the same period in 2015-16. Lanco Infratech announced in a BSE filing that the company’s total operational income slumped to Rs.1,740.31 crore during the third quarter of the current financial year, from Rs.2,168.48 crore during a year ago period. Lanco Infratech has operations across five sectors: engineering procurement and construction (EPC), infrastructure and property development, natural resources, power and solar. The company’s power (66%) and EPC (12%) sectors together contribute to 78% of its gross revenues. Its total outstanding receivables were Rs.1,396.70 crore ...

The Dollar Business Bureau Hong Kong based electric power generation company, CLP Group, is planning to acquire Suzlon Energy’s 100 MW solar power project in Telangana. CLP India, the wholly-owned local arm of the company is in talks with Suzlon to buy stakes in the project, said a media release. According to the company, CLP India wants to diversify its clean energy portfolio in India. It is already a leading player in wind power generation with more than 1,000 MW capacity and is also one among the biggest foreign investors in the power sector of the country. This acquisition will strengthen the Indian solar power industry and also proves that global investors are interested in the secondary market whether the opportunity is in ...

The Dollar Business Bureau India is willing to import a minimum of 70-80 mmscm (million metric standard cubic metres) of natural gas from global exporters for its gas-based power plants, if the country is able to get long-term gas at ‘affordable’ rates, said Piyush Goyal, Minister of State for Power, Coal and Renewable Energy. “The Government of India is ready to procure at least 70 to 80 mmscmd of natural gas from worldwide suppliers if they are willing to supply long-term at affordable rates. This will enable the country to operate its idle gas-based power plants,” said Goyal, while speaking at a conference on ‘The Future of Electricity’ held in New Delhi. “We will adopt newer technologies to make our coal-based power creation cleaner and ...