Royal Dutch Shell Plc plans to double the capacity of its liquefied natural gas import facility at Hazira on India's west coast to 10 million tonnes a year, a top company executive said on Friday.
"The pilot project involved adoption of TMW's twin offering -- the smartphone-based TMW app and the Mastercard-enabled TMW and RBL Bank co-branded pre-paid card, which has almost universal acceptance at all outlets and billers that accept Mastercard in India," Essar Steel said in a statement.
The company said commissioning was done in a record 53 days - from IBR hydrotest to final synchronisation - making it among the swiftest in the industry. The first unit was commissioned in July last year.
"This is the second unit of the 4x93 MW steam turbine-based CPP, being set up by BHEL for RIL at Hazira," BHEL said in statement today.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com shared his reading and outlook on the market.
Adani Ports' first quarter (April-June) consolidated profit may increase 2 percent year-on-year to Rs 653 crore and revenue is seen rising 3 percent to Rs 1,806 crore, according to average of estimates of analysts polled by CNBC-TV18.
Souces have told CNBC-TV18 that the 1000 MW plant in Hazira is set to open in the next two months and Essar Power is in talks with Shell, GAIL and Russian LNG for supply of liquefied nitrogen gas (LNG).
After turning profitable in the last fiscal year, Essar Power Gujarat Ltd (EPGL) is confident of maintaining this momentum and has reported a good set of earnings numbers for the first quarter of FY17.
The LNG importer's Dahej terminal had maximum capacity utilisation for the fourth quarter, and will continue to clock 120 percent going forward, says RK Garg Director-Finance, Petronet LNG. He adds that Dahej and Hazira terminals will be the only terminals operating for 6 months.
Retail tur dal prices today shot up to Rs 200 per kg despite the government's steps to boost supply and check prices, aggravating consumers' woes. Till last week, tur was available at Rs 185 per kg in the retail market.
GSPL rallied 9 percent intraday as brokerage house Citi feels the natural gas transmission company could be the biggest beneficiary from new gas policy given its high operating leverage and connectivity to the Hazira regas terminal which is still running at 50 percent of its around 5 MMTPA capacity.
The capital infusion by the promoters will also help the company in reducing strain on its balance sheet as its consolidated net loss had widened by over 2.5 times in the last fiscal to Rs 5,105 crore.
Two people were killed by a fire at a fuel storage terminal of state-run Indian Oil Corp in Hazira in Gujarat on Saturday.
Roger Manser, Consultant to Steel Business Briefing sees steel price moving northwards in the January-June period in Asia. He also predicted slight improvement in Chinese demand for steel in the second quarter.
Essar Steel said it has commissioned its compact strip production mill (CSP mill) in Hazira with a capacity of 3.5-MTPA. This is a key part of Essar Steel''s plans for expanding its steel production capacity at its Hazira complex from 4.6 MTPA to 10 MTPA.
Rajiv Agarwal, CEO and MD, Essar Shipping, in an interview with CNBC-TV18’s Anuj Singhal and Latha Venkatesh, spoke about the latest happenings in his company and the road ahead.