- CORPORATE ONGC nod to buy ADB's Petronet stake
- ENERGY Koodankulam: Kalam for R200 cr plan
CORPORATE ONGC nod to buy ADB's Petronet stake
After GAIL (India) Ltd, Indian Oil Corp. Ltd (IOC) and Bharat Petroleum Corp. Ltd (BPCL), the board of state owned Oil and Natural Gas Corp. Ltd (ONGC) has approved the acquisition of Asian Development Bank's (ADB) stake in Petronet LNG Ltd.
ADB had on 23 August offered to sell its 5.2% stake in Petronet, in which the four stateowned oil and gas companies hold 12.5% stake each, sources aware of the development said.
Gas utility GAIL and refiners IOC and Bharat Petroleum have already informed ADB of their decision to exercise their right of first purchase/refusal on the multilateral lending agency's stake.
ONGC board on 4 November approved the share acquisition, the sources said, adding that the four state owned firms would need government approval for buying ADB stake.
ENERGY Koodankulam: Kalam for R200 cr plan
A `200 crore 10point action plan for the development of the area around the Koodankulam nuclear project was mooted by former president A.P.J.
Abdul Kalam as he appealed to people not to have even a “nano sized doubt“ over the power plant's safety.
The creation of 10,000 jobs and building a fourlane highway and a world class hospital have been envisaged under the “Koodankulampura“ project plan submitted to the Tamil Nadu gov ernment for implementation by the cen tre before 2015.
Vouching for the safety of the controversial project hit by protests, Kalam, who visited the site in Tirunelveli district on Sunday, said the project met all the four safety aspects--nuclear criticality, radiation, thermal hydraulic and struc tural integrity safety.
Terming the protests against the plant as “unfortunate“, Russia on Mon day said it hopes that authorities will take steps to pacify the situation.
“We appreciate the opinion of your former President...We hope that authori ties can take steps to pacify the situation,“ senior counsellor Sergey Karmalito in the Russian Embassy said.
“What is happening in Koodankulam is unfortunate. We have implemented all our commitments. All safety norms are in place. Now it is up to India to ensure commissioning of the plant,“ he said.
(Source -: mintlive.com)