Indian Oil Corp aims to invest Rs 40 billion ($600 million) in upgrading its newest refinery in Paradip, Odisha, after the government decided to fast track the introduction of road vehicle fuels which are compliant with Euro VI emission stan
“Are there only two options before us [for PSUs] – either disinvest or close down? There is a third way, corporatise it, change its culture, make it apolitical, bring in efficiency.” – Prime minister
The financial year 2014-15 was not a typically good year for the global economy – largely due to the weaker-than-expected global activity in the last quarter (January to March) of 2013-14 and a consecutive weak April-June quarter of 20
Meanwhile, Moody`s Investors Service has affirmed Oil and Natural Gas Corporation Ltd.`s (ONGC) Baa1 local currency issuer rating, Baa2 foreign currency issuer rating, and the Baa2 ratings on the senior unsecured bonds issued by ONGC Videsh Limite
Oil and Natural Gas Corporation (ONGC) is likely to start commercial production of coal-bed methane in Jharkhand from next year. Meanwhile it has approached coal-based industries in the state as well as outside to create a customers` base.
Attempts by the pension fund regulatory and development authority (PFRDA) to bring employees of public sector undertakings under the National Pension System (NPS) has hit a “tax hurdle”. There is no tangible movement in
There is a threat of slowdown in the world but the National Buildings Construction Corporation (NBCC) has seen no dearth of business. In the last month itself, it received orders of over Rs 5,000 crore. Not surprisingly, it has been a clear outper
Government`s disinvestment kitty has almost doubled this year and a strong lineup is ready for 2016. The government made over Rs 35,000 crore through PSU share sales, with some help by saviour LIC. Those coming up for sale next year are NTPC, Coal
India will soon have a single, simplified standard for quality across the country for all products, said union minister of consumer affairs, food and public distribution Ram Vilas Paswan, at Governance Now PSU awards ceremony held in December.
Public sector undertakings (PSUs) are scared of five Cs: namely, the central information commission (CIC), central vigilance commission (CVC), central bureau of investigation (CBI), comptroller and auditor general (CAG) and the courts.
India`s oil imports from Iran fell for the fourth straight month in November to touch an eight-month low, preliminary tanker arrival data obtained by Reuters shows, as its two biggest buyers cut purchases to meet annual targets. Wes
Nearly 18 months after it removed four UPA nominees on board of Indian Oil Corporation (IOC), the government has appointed three independent directors. In a regulatory filing, the nation`s biggest company by turnover said that with
National carrier Air India has roped in mini ratna company RITES to help it develop a business plan for its Nagpur MRO facility. AI has set up the facility in collaboration with the US aircraft maker Boeing. The central public secto
Government has no proposal to disinvest stake in BSNL and MTNL as part of their revival strategy. To a question whether the government has any proposal to disinvest BSNL and MTNL as part of their revival strategy, telecom minister R
The NTPC’s Solapur power plant has run into trouble with the Maharashtra government insisting that the company should use recycled water for the plant’s operation. A thermal power plant requires a consistent stream of pollution-free hi
Bharat Heavy Electricals Limited (BHEL) has secured orders, cumulatively valued at Rs 4,614 crore, for setting up two supercritical thermal power projects involving one unit each of the country’s highest rating 800 MW sets, in Andhra Pradesh
GAIL India has said it has launched satellite surveillance portal to monitor its 13,000 km of gas pipeline network with a view to address security concerns. It would use also drones and satellite imagery to map and monitor its pipeline netwo
Government will sell stake in some state-owned companies, especially those in metals business, only when market conditions improve, finance minister Arun Jaitley. Government has a pipeline of over 20 PSUs for offloading part stake d
Despite being a busy season, spends by the government and the country’s public sector corporations on infrastructure projects have risen just 8% year-on-year in October. Even more disappointing is the fact that the value of tenders floated f
There is a new thinking to make public sector units profitable and the trick lies in going to Africa. Under the plan, the centre will help the PSUs to set up subsidiaries or form joint ventures with state-owned enterprises in poor African countrie