Nayara Skips Naphtha Tender After EU Sanctions
Russia-backed Indian refiner Nayara Energy, recently sanctioned by the European Union, has withheld awarding a spot naphtha export tender after altering its payment terms, according to three trade sources on Wednesday.This marks the first time the private refiner has not awarded a tender since the European bloc introduced its 18th sanctions package last week, which named Nayara Energy—part-owned by Russia’s Rosneft. The company, which operates a 400,000 barrels-per-day refinery in Gujarat, had changed its terms, seeking either advance payment or a letter of credit for the sale of a 33,000â..
DMR, Fichtner to Draft DPR for 1,950 MW Aruna PSP
DMR Hydroengineering & Infrastructures, in collaboration with Germany-based Fichtner, has secured the consultancy contract to prepare the Detailed Project Report (DPR) for the Aruna Pumped Storage Project (PSP) in Maharashtra. The contract, awarded by THDC India, envisions a capacity of 1,950 MW and is expected to play a key role in supporting Maharashtra’s renewable energy ambitions.The total consultancy assignment is valued at Rs 88 million and must be completed within 13.5 months from the date of award. DMR Hydroengineering is leading the project, while Fichtner contributes its global..
India Backs Steel Sector with Policy, PLI, and Recycling Push
Steel is a de-regulated sector, and the Indian government serves as a facilitator by creating a supportive policy framework to drive its development. In a written reply to the Lok Sabha, Minister of State for Steel and Heavy Industries, Shri Bhupathiraju Srinivasa Varma, outlined multiple initiatives undertaken to support the sector's growth and sustainability.To boost domestic manufacturing, the Domestically Manufactured Iron & Steel Products (DMI&SP) Policy was introduced to promote the use of ‘Made in India’ steel in government procurement. Additionally, the Production Linked In..
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