Nayara Energy Confirms Rs 700 Bn Investment, Slams EU Sanctions
Nayara Energy, backed by Russian oil major Rosneft, reaffirmed its plan to invest Rs 700 billion in downstream projects while criticising the European Union’s sanctions against it as unjust and contrary to India’s interests.The company operates a 20 MTPA refinery in Vadinar and manages over 6,750 fuel stations. In its statement, Nayara accused the EU of double standards, citing continued Russian energy imports by European nations.“The EU’s sanctions jeopardise India’s energy security and disrupt supply to 1.4 billion citizens,” the company said. “We are pursuing all legal means t..
ADB Approves Rs 9.75 Bn Loan for Tripura’s Industrial Zones
The Asian Development Bank (ADB) has sanctioned a Rs 9.75 billion loan for infrastructure development in nine industrial zones in Tripura, announced TIDC Chairman Nabadal Banik.Projects include industrial sheds, power substations, fire stations, and 34 roads. New zones at Santirbazar and Fatikroy are being developed, with demarcation already underway.TIDC has reclaimed 28 acres from dormant units to encourage active entrepreneurship. Banik added that the corporation is promoting rubber wood-based plywood manufacturing, with seven new units in the pipeline.Tripura has over 1.1 lakh hectares of ..
MSRDC Plans Dam Project to Support 71 Villages Near Expressway
The Maharashtra State Road Development Corporation (MSRDC) is preparing a detailed project report (DPR) for constructing a new dam near Khandala to support 71 villages along the Mumbai-Pune Expressway.The 186 sq km zone was previously under the Navi Mumbai Airport Influence Notified Area (NAINA). Now, under MSRDC's Special Planning Authority, the region is undergoing rapid infrastructure planning.Given the unreliable water supply from nearby sources like Morbe Dam and the Patalganga River, the new reservoir is intended to support future residential and industrial development.The project area f..
Latest Updates
