UN lauds global progress in green energy, calls for more action
The Dollar Business Bureau It has been a little over one year since the Paris deal on Climate change was signed in December 2015, and only a few months since it came into effect after being ratified by around 130 nations. The UN Secretary General, Antonio Guterres, drew attention to the fast expanding clean energy revolution at a UN General Assembly event on March 25, 2017. The international peace-keeping mission leader emphasized India's long strides in augmenting renewable energy capacity, as he spoke about India's target to almost double renewable power capacity to 18GW in 2017. He mentioned that more than half of the new capacity in energy generation worldwide was being created in the green fuel sector. In Europe, the share is more than 90%. While there are ...
Industry 4.0 necessary to hike mfg share in GDP : Experts
The Dollar Business Bureau Indian industry cannot ignore adopting Industry 4.0 and it has to focus more on making use of green technologies and best practices followed the world over, experts opined. This reaction comes in the wake of the Indian government setting its sights to increasing the share of manufacturing from 17 to 25 percent of GDP. And the government intends to do so in order to create millions of jobs and to push the country’s economic growth. Speaking to the media about aiming for an increased economic share in GDP, Hospira Healthcare Managing Director, Srini Srinivasan said, “To achieve this target, Indian industry has to adopt Industry 4.0 as it is important to boost manufacturing,". He also added that adopting Industry 4.0 ...
Essel Highways gets loan of $85 mn from Goldman Sachs
The Dollar Business Bureau Essel Highways Ltd (EIL) on Friday said that it has secured a loan of $85 million from the investment banker Goldman Sachs for funding the new projects and planned acquisitions. “Essel Highways, a subsidiary of Essel Infraprojects Ltd, has secured the $85 million loan from the investment banker, which will be used to finance new projects and strategic acquisitions,” EIL said in a statement. The fresh funds will enhance the Essel’s ability to grow its portfolio of road projects and allow for additional planned acquisitions, said Ashok Agarwal, CEO and Whole Time Director, EIL. “The debentures subscription from a globally renowned institution such as Goldman Sachs will further enhance our position in the market and support us in our endeavour ...
ABB partners with IITM to cooperate in microgrids, energy projects
The Dollar Business Bureau Swiss power and automation technologies major ABB on Wednesday signed an MoU with Indian Institute of Technology Madras (IITM) to forge technical cooperation to develop microgrids and undertake joint R&D on rural electrification, natural non-fossil resources utilisation, battery energy storage and their connection to loads and main grid. As part of the agreement, IITM and ABB will jointly design, build and supply equipment for up to two microgrids in rural areas. With ABB equipment, the microgrid will have energy efficient DC devices such as LED bulbs, TV, cell phone charges, brushless DC motor based fans; all designed by IITM. IITM will manage the project till the transfer of the installations to the local distribution utility (DISCOM). ABB will help IITM’s ...
Govt. mulls withdrawal of import duty on used cooking oil
Imported fried oil is used in making bio-diesel. It is cheaper than petroleum diesel by Rs.3-4 per litre, and withdrawal of import duty will bring down its price down further by Rs.6-7 per litre, says Union Transport Minister Nitin Gadkari The Dollar Business Bureau In August last year, the Ministry of Petroleum and Natural Gas had allowed marketing of high-speed diesel blended with bio-diesel from select retail outlets in New Delhi, Vishakhapatnam, Haldia and Vijayawada In order to promote the use of bio-diesel and check pollution, the government is mulling withdrawal of import duties on used cooking oil, which is used as cheap fuel for transportation. “I have requested the Commerce and Industry Minister Nirmala Sitharaman to withdraw duties on ...
PM inaugurates new terminal at Chandigarh airport
Source: PTI Prime Minister Narendra Modi inaugurating the New Civil Air Terminal, at Chandigarh airport, Punjab on Friday. The Governor of Punjab and Haryana, Chief Minister of Punjab Prakash Singh Badal, Union Minister for Civil Aviation Ashok Gajapathi Raju Pusapati and other dignitaries are also seen. Prime Minister Narendra Modi on Friday inaugurated a swanky new terminal at Chandigarh airport which will handle both domestic as well as international flights, and said it will play a key role in the economic development of the region. Describing it as "magnificent" building, Modi dedicated to the nation the modern facility which is expected to boost the economic and industrial development in Punjab, Haryana and Himachal Pradesh. The ambitious Rs.939-crore project, which is being ...
'Use of bio-diesel can reduce Indias oil imports'
Sai Nikesh | The Dollar Business In an effort to reduce oil imports and bring down the effect of carbon emissions, the Ministry of Petroleum & Natural Gas launched the commercial sale of bio-diesel in the country. The Ministry, on Monday, announced marketing of High Speed Diesel (HSD) blended with bio-diesel in selected retail outlets of Oil Marketing Companies (OMCs) in New Delhi and Vishakhapatnam (by HPCL), Haldia (by BPCL) and Vijayawada (by IOCL). It’s a path breaking step in India’s retail sector for launching bio-diesel B5 (diesel blended with 5% non-edible oil extracted from palm stearin) blend to diesel consumers, the Ministry said in an official release. According to the Union Minister Dharmender Pradhan, bulk users like Railways, Defence and State ...
