High energy costs, long a drag on India's manufacturing competitiveness, are finally easing. Power and fuel expenses accounted for 1.98 per cent of net sales in 2024-25, the lowest level in data compiled by the Centre for Monitoring Indian Economy (CMIE) over the past two decades.
The empowered group of ministers, however, decided to allocate the initial 40 million standard cubic metre per day of gas from KG-D6 basin to the existing power and fertiliser plants and proposed units like the captive power plant at Nagothane did not figure in the scheme of things. A company spokesperson confirmed the scrapping of the project.
More than half of all new project announcements in the June 2025 quarter came from the manufacturing sector. Manufacturing projects worth around Rs 2.3 trillion were announced in the three-month period, accounting for 54 per cent of total new projects, according to data from the Centre for Monitoring Indian Economy (CMIE).
Ushering in reforms, Union Finance Minister Nirmala Sitharaman on Saturday proposed to open up the nuclear power sector for private players and announced a Rs 20,000 crore Nuclear Energy Mission for research in the field, with an aim to set up five small and modular reactors by 2033.
Reliance Energy Limited has signed a Memorandum of Understanding with the Maharashtra Industrial Development Corporation to set up two group captive power plants at Butibori in Nagpur and Thane-Belapur belt near Mumbai.
Strong performance by its US subsidiary Novelis and better returns in the copper business helped Hindalco Industries post consolidated revenue growth of 2 per cent quarter-on-quarter (Q-o-Q) to Rs 54,100 crore in the July-September quarter of 2023-23 (Q2FY24). Novelis' Flat Rolled Products (FRP) volumes grew 6 per cent Q-o-Q to 933,000 tonnes (down 5.2 per cent Y-o-Y) on better North American and European volumes. The consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) declined 2 per cent Q-o-Q to Rs 5,610 crore despite lower input costs in India and better Novelis performance.
Anil Agarwal-led Vedanta's Sterlite Copper on Monday came out with an advertisement inviting expression of interest (EoI) for carrying out plant "restart activities" at its Thoothukudi unit in Tamil Nadu, that got closed more than five years ago following an order issued by the Tamil Nadu Pollution Control Board (TNPCB). The EoI for restart comes when the company is still awaiting the final judgement on the issue, and the court has only allowed it to do maintenance work. "We have initiated the upkeep and maintenance activities at the plant as allowed by the Supreme Court vide its order dated May 4, 2023, in coordination with the district authorities.
At the review meeting, chaired by cabinet secretary Rajiv Gauba in New Delhi, the IMD said above normal maximum temperatures are likely over most parts of northeast, east and central India and some parts of northwest India.
Arvind, Electrotherm, Shah Alloys have surplus power to sell. Ahmedabad-based stainless steel manufacturer Shah Alloys, denim maker Arvind Ltd and electric two wheeler producer Electrotherm are currently producing surplus power from their CPPs and they are looking at selling it.
While the country's power sector faces an increased demand for electricity, industries in power-starved Maharahstra are exploring the option of using their own captive power plants to dilute the crunch.
India's largest oil firm IOC will build the nation's first 'green hydrogen' plant at its Mathura refinery, as it aims to prepare for a future catering to the growing demand for both oil and cleaner forms of energy. Indian Oil Corporation (IOC) has drawn a strategic growth path that aims to maintain focus on its core refining and fuel marketing businesses while making bigger inroads into petrochemicals, hydrogen and electric mobility over the next 10 years, its chairman Shrikant Madhav Vaidya said. The company will not set captive power plants at all its future refinery and petrochemical expansion projects and instead use the 250 MW of electricity it produces from renewable sources like solar power, he told PTI in an interview.
The chief minister of Odisha had reiterated this position assigning topmost priority to the allocation of Talabira-II in favour of Hindalco.
Of the 1.4 billion people of the world who have no access to electricity in the world, India accounts for over 300 million.
Initiating the process of allocation of coal mines, the government on Monday invited proposals from PSUs for alloting 17 blocks to them, mostly for captive power plants.
After putting the project on hold last year, Union Environment Minister Jairam Ramesh on Monday granted conditional clearance for South Korean major Posco's $12 billion steel mill project in Orissa.
Exemption of excise and customs duty on liquid fuels, abolition of service charge, rescheduling of loans for all textiles and clothing units will reduce pressure on the industry and will help to improve liquidity.
The Indian Textile Industry is currently one of the largest and most important industries in the Indian economy in terms of output, foreign exchange earnings and employment.
The Anil Agarwal promoted Vedanta Aluminium (VAL) plans to invest a whopping Rs 60,000 crore in aluminium, alumina and power sector in Orissa by 2013.
Some chlor alkali producers using naphtha as feedstock for captive power plant will benefit from cut in the excise duty on naphtha from 16% to 14%.
With the country facing a massive electricity shortage, government asked the states on Tuesday to pull out all stops to setting up captive power plants -- surplus from which could be diverted for public consumption.
The new semiconductor plants will be up against India's age-old Achilles' heel, inadequate infrastructure
Reliance Industries will set up two gas-based captive power plants to generate a combined 1100 MW for its special economic zone in Maharashtra and also its malls and other projects.
For a state so rich in mineral wealth, the tribal parts of Chhattisgarh have had remarkably little investment in the last two years.
The mines ministry has sought Prime Minister Manmohan Singh's intervention in bailing out aluminium giant Nalco of the acute paucity of coal, which has forced the PSU to close down two of its captive power plants.
Indian Railways on Tuesday entered into a joint venture agreement with the NTPC for setting up 1000 MW captive power plant at Nabinagar in Bihar, a move that can help the exchequer save Rs 400-600 crore (Rs 4-6 billion) annually on power purchase from state electricity boards.
Tata Steel Ltd said on Wednesday it has signed joint venture agreement with Tata Power Co Ltd to set up captive power plants in Chhattisgarh, Orissa and Jharkhand.
The LN Mittal-owned Arcelor-Mittal, the largest producer of steel in the world, is set to sign a memorandum of understanding with the Orissa government for its proposed 12 million tonne steel plant this week.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
It's been months since Jindal returned the private land to the state government, free of cost, but not a cottah has been distributed
Rosneft bought a 49 per cent stake in Essar Oil's refinery port and petrol pumps, while Netherlands-based Trafigura Group Pte, one of the world's biggest commodity trading companies, and Russian investment fund United Capital Partners split another 49 per cent equity equally.
'That was triggering stone-throwing.' 'So if the cops were not so visible, the chances of any violence is reduced.'
JSPL is under CBI lens for giving wrong information about its land, water supply and previous allocations to get coal block in Jan 2008.
Salboni, in West Medinipur district, is where JSW Steel in 2007 said it would be putting up a 10 million tonne a year steel factory, plus a big captive power plant.
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