Mumbai: The central government has declared that it can regulate the contract between Reliance Industries Ltd (RIL) and Reliance Natural Resources (RNRL) which belongs to Anil Ambani.

New Delhi: Public sector oil companies have for the first time in more than a year started making profit on sales of petrol and diesel, strengthening the case for a fuel price cut soon. 

Kalka: Indian Railways dedicated the Kalka-Shimla railway line to the nation as world heritage track after being declared by United Nations Educational, Scientific and Cultural Organization (UNESCO) as a World Heritage.

Mumbai: A consortium led by Larsen & Toubro with Scomi Engineering Bhd, Malaysia has bagged a Rs2460-crore order from the Mumbai Metropolitan Region Development Authority (MMRDA) to implement the country’s first Monorail System in Mumbai.

 

Mumbai: Despite the current economic downturn, India’s real estate is said to be worth about $16 billion and is estimated to post annual growth rate of 30 percent to reach $60 billion by 2010 according to research outfit ‘Çityscape Intelligence’.

Chennai: Eredene Capital Plc will invest $300-million in India’s infrastructure sector next year. The fund will be raised from investors in Europe and the Middle East, among other places. The company is planning to acquire at least 26 percent stake in a venture and also a board seat.

Hyderabad: DLF Homes launched its residential projects in Hyderabad. The endeavor is to provide quality housing to the home buyers there. 

New Delhi: Highway construction and infrastructure projects worth over Rs10,000-crore hang in the balance with companies struggling to achieve financial closure after banks began raising interest rates to 14-16 from 9-11 percent. These ventures account for about 40 percent of projects worth Rs25,000-crore that have been sanctioned by the National Highways Authority of India (NHAI), according to data from the National Highway Builders Federation (NHBF), which represents highway construction companies.

New Delhi: More trouble has surfaced for the controversial Ratnagiri Gas and Power Pvt. Ltd, or RGPPL, formerly known as Dabhol Power Co, with one of the project’s insurers declining to pay Rs212-crore claimed as compensation for delays in its commissioning. 

Bangalaru: GMR Infrastructure, which has interests in power generation, airports, roads and urban infrastructure, is set to acquire a coal mine in Indonesia for Rs490-crore. The mine is understood to have reserves of 110 million tonnes. This move comes close on the heels of GMR acquiring a five percent stake in a South African mining firm for $15-million.