Adani in Talks for $600M Loan for Gas Unit

Adani Energy Acquires Essar's Transmission Assets

Adani Energy has finalised the acquisition of Essar's Mahan and Sipat transmission assets for a sum of Rs 1900 crore. This significant move underscores Adani's strategic expansion within the energy sector and consolidates its position as a key player in India's power transmission domain.

The acquisition of Essar's transmission assets represents a strategic investment for Adani Energy, enabling the company to augment its infrastructure and bolster its transmission network. With the addition of these assets, Adani strengthens its operational footprint, enhancing its capacity to deliver r..

Adani Enterprises' Massive Investment

Adani Enterprises, led by billionaire Gautam Adani, is set to invest ?80,000 crore in the current fiscal year. A significant portion of this investment, approximately ?50,000 crore, will be allocated to Adani New Industries Ltd (ANIL) and airport projects. ANIL is focused on producing solar modules and green hydrogen, aiming to manufacture 10 gigawatts of solar modules and 3 gigawatts of wind turbines.

The investment plan includes ?12,000 crore for road development, particularly for the Ganga Expressway, ?10,000 crore for a new PVC project, and ?5,000 crore for data centres. This subst..

Adani Port Talks Remain Stalled

Negotiations between Adani Ports and striking workers at the Gangavaram Port in Visakhapatnam have reached a stalemate. The workers, who have been protesting for better wages and working conditions, continue to hold out for their demands.

The striking workers, primarily from local fishing communities, have not seen a salary increase in 14 years, despite the port's substantial profits. Their main demands include a minimum monthly wage of ?36,000, health benefits, and better job security. They argue that their current wages, which range from ?3,700 to ?18,000 per month, are insufficient,..

Indian Government Reduces Windfall Tax on Crude Petroleum

The Indian government has decided to reduce the windfall tax on crude petroleum, lowering it to Rs 5,700 per metric ton effective from May 16. This decision comes amidst efforts to balance revenue generation with the need to mitigate the impact of high global crude oil prices on domestic consumers and industries.

The windfall tax reduction follows a period of sustained increase in global oil prices, which have posed challenges for India's economy and inflationary pressures. By revising the tax rate downwards, authorities aim to provide relief to consumers while ensuring a stable environ..

Cairn Oil & Gas Reserves Surge

Cairn Oil & Gas, a subsidiary of Vedanta Resources, has reported a significant 19% increase in its oil and gas reserves, now totalling an impressive 1.4 billion barrels of oil equivalent. This notable growth underscores Cairn's robust exploration and production capabilities, solidifying its position as a leading player in India's energy sector.

The increase is attributed to successful exploration activities and efficient reservoir management, which have optimised recovery rates. Cairn's CEO, Nick Walker, highlighted that this achievement aligns with the company's strategic goal..