SAIL aims higher market share on growing steel demand: CMD

SAIL chairman PK Singh

STEEL major SAIL aims to tap big into the steel demand in India, which is projected to become "the fifth- largest economy" this year, its Chairman P K Singh said.
Addressing the 45th annual general meeting (AGM) of the Steel Authority of India Limited (SAIL), Singh said the steel demand in India will witness a significant growth in future, given the current stage of development in Indian economy. The World Steel Association, in its short-range outlook, has forecast 6.1 percent growth in steel consumption for India in 2017, he added.
He said, “The domestic steel demand is improving...

IOC to invest Rs 32,000 cr to increase petrochemicals capacity by FY21: Report

IOC chairman Sanjiv Singh

TO MEET the growing demand for petrochemicals, especially plastics and polymers, Indian Oil Corporation (IOC) will invest Rs 32,000 crore to increase its output by fiscal 2021.
This investment is part of the overall Rs 1.8 trillion capex planned for the next five to seven years, IOC chairman Sanjiv Singh said.
The petchem business contributes a quarter of the most profitable PSU's profit, which rose to the highest at Rs 19,106 crore in fiscal 2017.
The Maharatna PSU has already executed petchem projects worth Rs 20,800 crore and is close to commission a Rs 3,150-crore polypropelene plant...

NTPC to add 24 GW at Rs 1.6 lakh crore

NTPC CMD Gurdeep Singh

AT A time when global economic scenario is uncertain, state run Maharatna PSU NTPC remains bullish about domestic electricity demand and has planned a total capacity addition of 24 GW entailing an investment of Rs 1.6 lakh crore. "Various projects of the company having an aggregate capacity of around 24 GW are under implementation at 23 locations...

NTPC Q1 profit up by 4% on higher power output

NTPC reported a 4-per cent year-on-year (YoY) increase in its standalone net profit at Rs 2,369.53 crore during the April-June quarter. This was possible due to higher power production and better utilisation of coal-based power plants. Gross sales during the period was up 11.34 per cent at Rs 18,940 crore.
State-owned power producer, which accounts for over one-fifth of country’s installed thermal capacity, recorded a 10 per cent...

Minority Report: PSU banks asked to increase lending to Muslims

THE government has asked public sector lenders to increase lending to minorities with a view to ensuring that they get loans in proportion to their population.

It was decided at a meeting called by minority affairs secretary Arvind Mayaram with bankers.

The percentage share of lending...

REC mulls its foray into green energy space

REC CMD Rajeev Sharma

RURAL Electrification Corporation Limited (REC), a Navratna PSU under ministry of power that finances power infrastructure projects is planning to enhance its presence in the green energy financing. The PSU will fund projects like solar, biomass, wind power that will help mitigate the problem of power scarcity, carbon emissions...

ONGC invests over Rs 81,800 crore for new oil fields

ONGC chief DK Sarraf

STATE-owned Maharatna PSU Oil and Natural Gas Corp (ONGC) has invested over Rs 81,800 crore in bringing new discoveries into production and check the decline in output from ageing fields. The Maharatna explorer is all set to finalise...

NRL to commission wax project; DRP for capacity expansion underway

NRL chairman S Varadarajan

STATE-owned oil marketing PSU Bharat Petroleum Corporation Ltd's Assam-based refinery NRL will soon commission its wax project. With the commissioning of the project, NRL would emerge as a leading wax producer in the country, the PSU stated in a statement after the...