HPCL’s capacity expansion takes off
Posted on 23rd October 2017 |
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| Prime Minister Narendra Modi laid foundation stone for Hindustan Petroleum Corporation Ltd’s MDPL Capacity Expansion and PVPL Extension Project in Vadodara on Sunday. The total approved project cost is Rs 1,879 crore out of which Rs 1,769 crore will be invested in Gujarat. The project is slated for completion by June 2020. This pipeline project of HPCL will facilitate uninterrupted supply of petroleum products to meet growing market demand for petrol, diesel etc in Gujarat, Eastern Maharashtra and other parts of central India. It will provide safe, environment friendly and cost efficient transportation of petroleum products to these areas. The project will provide direct/indirect employment to nearly 1200 persons during construction and 300 persons during operations and maintenance phase. The project consists of capacity expansion of existing Mundra Delhi Pipeline from 5 to 8 MMTPA by construction of additional booster pump stations at Bhachau, Palanpur in Gujarat and at Pindwara in Rajasthan. Further MDPL pipeline will be extended from Palanpur to Vadodara. The extension pipeline will be of 18” dia and 235 km length, and will pass through 8 districts in the state of Gujarat. A new green field marketing storage terminal with over 20 crore litre product storage and Rail/ Road loading facilities will be built in Asoj/ Pilol villages near Vadodara, adjacent to Savli Industrial area. Government of Gujarat has constituted a task force for speedy implementation of this project and facilitated the project by completing permanent acquisition of 144 acre land for new Vadodara marketing terminal, whose possession was given in September 17. The competent authority appointed from Gujarat state revenue, has completed 235Km ROU acquisition under P&MP Act, 1962. The project has received environmental clearance from MOEF on June 7 and is in possession of all major statutory approvals for pipeline laying from PNGRB, Gujarat State Pollution Control Board, PESO etc. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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