JNPT signs MoUs worth around 27,000 crore, to strengthen port-led industrialization in India
NEW DELHI: Jawaharlal Nehru Port Trust (JNPT), India’s premier container port, today announced that it signed over 30 MOUs (Memorandum of Understanding) with potential investors for port projects, technology transfer and development of plots in JNPT SEZ for an amount of around 27000 crore in line with the Maritime India Summit 2021 to be held […]
Modi government invites EoI for strategic sale of Shipping Corporation
NEW DELHI: The Narendra Modi government (Centre) has expanded its strategic disinvestment plan for current fiscal initiating the sell-off plan for Shipping Corporation of India Ltd (SCI) by inviting expression of interest from potential interested parties. The government proposes to sell its entire shareholding of 63.75 per cent in the listed entity to a buyer […]
Vedanta submits preliminary EoI for BPCL, terms bid as ‘exploratory’
NEW DELHI: Anil Agarwal-led Vedanta has said that it has submitted an expression of interest (EoI) for the privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) and termed the bid as “exploratory” in nature. Vedanta is among the three to four companies which have submitted bids for the state-run oil major. “Vedanta’s EoI for BPCL is to […]
Several EoIs received for BPCL sale, giants RIL, Aramco, BP not in race
NEW DELHI: The much-anticipated privatisation process of the Bharat Petroleum Corporation Ltd (BPCL) completed its first phase on Monday with several suitors submitting Expressions of Interest (EoIs). However, sources said that major energy giants including Reliance Industries, Saudi Aramco and UK’s BP have not placed bids for the state-run oil major. The transaction will move […]
BPCL pays for defaulting Videocon in Brazil oil block
NEW DELHI :State-owned Bharat Petroleum Corp Ltd (BPCL) has been forced to pay for its defaulting partner Videocon Industries Ltd after it had relied on a rarely used model to acquire stake in five oil blocks in Brazil, sources said. In September 2008, BPCL and Videocon Industries had formed a 50:50 joint venture to acquire […]
India plans to sell BPCL, Concor, Air India by March 2020: Report
NEW DELHI: India aims to sell two or three state-owned firms to local or foreign firms to raise up to Rs 60, 000 ($8.5 billion) by March 2020, a senior Finance Ministry official said on Monday. The government planned to sell Bharat Petroleum Corp Ltd, logistics firm Container Corp of India Ltd and debt-laden Air […]