Indian Oil Corporation review meeting later this week

The next phase of rise in diesel prices seems, unlike earlier, to be a non-combined exercise from the three government oil marketing companies ( OMCs). On January 17, the government allowed Indian Oil Corporation ( IOC), Hindustan Petroleum Corporation (HPC) and Bharat Petroleum Corporation (BPC) to eliminate the loss on sale of diesel to bulk consumers at one go and do a gradual rise in prices at monthly intervals for retail outlets — the government had suggested a 45-50p/litre rise at a time. A month gets over this Sunday, since the decision

In the absence of transport network and faster envt clearances, benefits will be limited

After nearly 40 years of state ownership, the chorus of support for privatisation of coal mines is growing louder. With the economy ravenously short of coal to fire its power plants, and the state-owned Coal India Limited (CIL), which has a near monopoly in the sector, failing to meet the ever increasing demand from industry, the cause of privatisation is gathering strength.

This adds to the list of projects that left the state, whose industrial image has suffered

It is curtains for yet another large-scale project in West Bengal. The Videocon group on Tuesday said it was unlikely to go ahead with its Rs 20,000-crore steel and power plant project at Jamuria. There were speculations that the consumer electronics major might relocate the project amid land acquisition hurdles. The minimum land requirement for the project is about 1,800-2,000 acres.

As per the new regulations in the making, it will become mandatory for a company to spend 2% of net profit

Union corporate affairs ministry has put the onus of performing corporate social responsibility (CSR) on industry, as the Companies Bill is set to be tabled before the Parliament. “The government wants to have a hands-off approach as far as CSR is concerned. It is upon the companies to decide what they have to perform and can report that online also. If they fail to do so, they will have to show the reason,” said Sachin Pilot, Union Minister for Corporate Affairs, while speaking at a chamber meeting in Kolkata on Sunday.

Both nations were planning to strike a deal last year, to ship sand to Maldives, which risks being inundated if the sea level rises by even one metre

A plan that hailed Bangladesh as the “Good Samaritan” of Asia, rescuing more than 328,000 Maldivians from being climate refugees seems to be shelved by both the countries now. Both Bangladesh and the Maldives were planning to strike a deal last year, to ship sand to the island nation, which is facing a threat of being inundated if the sea level rises by even one metre.

The Rs 9,600-crore project would need about 1,030 acres

State-run NTPC has said it would go ahead with the 1,600 Mw (2x 800 Mw) Katwa project in West Bengal. It, however, added it had shelved plans to purchase the land directly. Earlier, NTPC had, for the first time, decided to buy land directly from farmers. However, owing to hurdles in the involvement of middlemen and the high prices quoted by farmers, the company decided against it. Now, NTPC has written to the state power department, urging it to acquire land for the company. The state government is yet to decide on NTPC’s request.

State-run power producer NTPC Ltd’s overseas plans are likely to take a new turn this year. According to sources, work on its Sri Lanka project is likely to start by year- end, while an environmental impact study is going on for its Bangladesh project.

Last year, both NTPC and the Ceylon Electricity Board (CEB) of Sri Lanka had incorporated a joint venture, Trincomalee Power Co, to set up a 2x250 megawatt (Mw) coal-based power project at Sampur in the Trincomalee region. The overall investment of the project was expected to be Rs 3,000 crore.

The Hiranandani Group has drawn up plans to invest about Rs 3,000 crore to set up four-million-tonne (mt) liquefied natural gas (LNG) terminal at Haldia in West Bengal, a move that will help the Mumbai-based group cater to the needs of the eastern India market.

In October last year, Business Standard had reported about the group’s plan to set up an LNG terminal in the east, but details of the project were not divulged at that time, as a feasibility study was going on. “Now, we have got the feasibility report in place for the terminal at Haldia in the middle of the ocean with a capacity of 4 mt. It will see an investment of about Rs 3,000 crore,”

Coal India Ltd (CIL) has said its focus, for now, would be on raising output, not on diversification.

The government-owned company, the country’s near-monopoly producer, had diversification plans on coal liquefaction (CTL) and gasification. Last year, Partha S Bhattacharya, former chairman and managing director (CMD), had indicated CIL might foray into production of shale gas.

Maharatna major NTPC’s maiden overseas venture at Khulna in Bangladesh has now run into an environment hurdle due to its proximity to the world’s largest mangrove forest Sunderbans.

Environmentalists in Bangladesh have already moved court asking the project to be scrapped as it comes within 14 kilometres of Sunderbans. The 1320MW (2X660MW) project is a 50/50 joint venture between NTPC and Bangladesh Power Development Board and both the parties have signed a memorandum of understanding recently.