Matthias's Feed
Jun 16, 2013

India’s main opposition alliance splits ahead of election

NEW DELHI (Reuters) – A powerful Indian regional party pulled out of the main opposition alliance on Sunday, a split that could hobble the rise of a controversial Hindu nationalist leader who hopes to oust the ruling Congress party in elections due by May 2014.

The Janata Dal (United) party, based in the eastern state of Bihar, announced it would end a 17-year-old alliance with the Bharatiya Janata Party (BJP) after the BJP promoted firebrand leader Narendra Modi to lead its election campaign.

Jun 5, 2013

L&T wins $300 million gas project in Saudi Arabia

NEW DELHI (Reuters) – Larsen & Toubro (L&T)(LART.NS: Quote, Profile, Research) won an infrastructure contract worth nearly $300 million from Saudi Aramco as India’s biggest construction and engineering firm chases overseas projects to offset a slowdown at home.

L&T has steadily expanded its global footprint, recently winning a construction project at the Abu Dhabi airport. The firm is further bidding for about $3 billion worth of projects in the region, including more construction work for Aramco and an oil refinery in Oman, its CEO told Reuters.

Jun 5, 2013

India’s L&T wins $300 mln gas project in Saudi Arabia

NEW DELHI, June 5 (Reuters) – Larsen & Toubro Ltd (L&T)
won an infrastructure contract worth nearly $300
million from Saudi Aramco as India’s biggest
construction and engineering firm chases overseas projects to
offset a slowdown at home.

L&T has steadily expanded its global footprint, recently
winning a construction project at the Abu Dhabi airport. The
firm is further bidding for about $3 billion worth of projects
in the region, including more construction work for Aramco and
an oil refinery in Oman, its CEO told Reuters.

May 29, 2013
via India Insight

Tata Power scouts for opportunities abroad

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(Any opinions expressed here are those of the author and not necessarily of Reuters)

Tata Power Company Ltd, part of the salt-to-steel Tata conglomerate, is India’s largest integrated power producer. It aims to generate some 20,000 MW by 2020, up from more than 8500 MW now, and is scouting for opportunities abroad as well as building its thermal and renewables business at home.

May 28, 2013

Tariff case stalls Tata Power’s investment plans

NEW DELHI (Reuters) – Tata Power Co will hold off on major investments until it clarifies the fate of a regulatory decision to raise tariffs, a company executive said on Tuesday.

The electricity regulator allowed Tata Power, a unit of the Tata conglomerate, to raise tariffs for power generated at its Mundra plant in Gujarat.

May 28, 2013

India tariff case stalls Tata Power’s investment plans

NEW DELHI (Reuters) – Indian utility Tata Power Co Ltd (TTPW.NS: Quote, Profile, Research, Stock Buzz) will hold off on major investments until it clarifies the fate of a regulatory decision to raise tariffs, a company executive said on Tuesday.

India’s federal electricity regulator allowed Tata Power, a unit of the Tata conglomerate, to raise tariffs for power generated at its Mundra plant in the state of Gujarat.

May 16, 2013
via India Insight

Counting the cost of India’s blackouts

Photo

(Any opinions expressed here are those of the author and not necessarily of Reuters)

Is it better to pay more money for more electricity, or keep prices low and look forward to blackouts that will conk out offices, factories and homes in India? That is the question that lies at the heart of an ongoing debate about whether authorities should allow utilities Adani Power Ltd and Tata Power Co Ltd to raise their tariffs on existing contracts to clients, to compensate the companies for the domestic coal supply shortages and the rising cost of buying coal from overseas.

May 15, 2013

Haryana challenges ruling allowing higher power tariffs

NEW DELHI (Reuters) – Haryana is challenging in court a decision by the power regulator to allow utility Adani Power Ltd(ADAN.NS: Quote, Profile, Research) to raise tariffs, dealing a potential blow to a key sector struggling with chronic losses and erratic fuel supplies.

The case filed by Haryana underscores the ability of local politics to derail a regulator decision that was hailed by power companies as a step toward ending electricity shortages that sap the competitiveness of businesses in India, hobbling economic growth.

May 15, 2013

Indian state challenges ruling allowing higher power tariffs

NEW DELHI, May 15 (Reuters) – An Indian state is challenging
in court a decision by the federal power regulator to allow
utility Adani Power Ltd to raise tariffs, dealing a
potential blow to a key sector struggling with chronic losses
and erratic fuel supplies.

The case filed by the northern state of Haryana underscores
the ability of local politics to derail a federal decision that
was hailed by power companies as a step toward ending
electricity shortages that sap the competitiveness of businesses
in India, hobbling economic growth.

May 14, 2013

“Coal Mafia” stokes India’s power crisis

DHANBAD (Reuters) – Seven shots rang out at a wedding reception in this sooty city in eastern India, and Suresh Singh, India’s “Coal King”, fell fatally wounded.

He was a wealthy coal trader, a politician and, police say, a crime boss. At the time of the shooting, Singh had 14 criminal charges against him, including one for homicide. His career and murder are emblematic of one of India’s most nagging economic problems: the corruption that cripples the crucial coal industry.