CG Awarded $25 Million Contract by Ministry of Electricity, Iraq
Business Wire India
September 24th, 2014
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Mumbai, Maharashtra, India- Business Wire India
 
  • 16 mobile substations for Iraq, before September 2015
  • For interim grid connections and temporary power supplies
  • Integration and assembly in Belgium
Avantha Group Company CG announced a $25 million new contract win for the design, construction and delivery of 16 mobile substations. The order was placed by the General Directorate for Transmission, Upper Euphrates Region, Ministry of Electricity in Iraq. The key deliverables are engineering and supply of 16 mobile substations containing 31.5 MVA transformers delivered by CG’s Power Transformer factory in Hungary, auxiliary/earthing units manufactured in the Distribution Transformer factory in Belgium and control and protection equipment provided by CG’s Automation arm ZIV. Integration and assembly work for the project will be concluded at the CG factory in Belgium. The suite

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Coal block verdict impact: JSPL hits 5-year low, Coal India up 5%
Amit Antil
September 24th, 2014
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Jindal Steel and Power (JSPL) has dipped 15% to Rs 180, its lowest level since March 2009 on the National Stock Exchange (NSE), after the today cancelled all allocations except for government-run blocks that operate on a non-JV (joint venture) basis. A penalty of Rs 295/tonne will also be imposed on all cancelled block holders, the Supreme Court order says. The stock opened at Rs 207 and touched a high of Rs 218 in early morning deals on NSE. A combined 21.42 million shares changed hands on the counter so far on NSE and BSE.... Source Business

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Coal scam: SC cancels all coal block allocations except four
Amit Antil
September 24th, 2014
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New Delhi: The Supreme Court on Wednesday cancelled 214 coal block allocations between 1993 and 2008 except for four, which are government-run non-joint ventures. The coal blocks exempted include Sasan, UMPP, NTPC and SAIL. The court said that the allocations are arbitrary and that there were no basis for the allocations. The Centre is free to auction all cancelled blocks after March 2015.....source CNN

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Government Delegation from India Visits Infineon’s HQ in Munich – Board Member Mittal Invited to Continue Dialogue in India
Business Wire India
September 23rd, 2014
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Neubiberg, Germany
Led by Mr.Ravi Shankar Prasad, Indian Minister for Communication and Information Technology, a delegation of 15 members comprising of  Indian government and industry representatives met with Arunjai Mittal, Member of the Management Board of Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY). The visit emphasized the Indian government's interest in the products and development activities of Infineon. Major infrastructure measures such as the expansion of the power network, construction of high-speed rail connections and the introduction of secure personal documents inevitably results in mutual points of interest. The delegation listened attentively to Mr. Mittal's presentations, which described Infineon's technology leadership in power electronics and security applications.        In response, Minister Mr.Ravi Shankar Prasad described the positive investment conditions to be found in India, emphasized India's constant market

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‘CM’s Push Shrinks Power Supply Deficit to 3% in State’
Business Wire India
September 23rd, 2014
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'CM's Push Shrinks Power Supply Deficit to 3% in State'
Mumbai, Maharashtra, India- Business Wire India
Over the last five years, with the gap between demand and supply having reduced from 18 percent to 3 percent Maharashtra is able to supply power to everyone and is on its way to becoming a zero load-shedding State. 82 percent of Maharashtra is already free of power cuts. Commenting on the efforts taken by the government, Maharashtra Chief Minister Shri Prithviraj Chavan said “I firmly believe that having a strong power sector will ensure all-round and balanced development to the state. Through the efforts of my government, uninterrupted power supply will soon become a reality in Maharashtra”  Major reforms in capacity addition include loss reduction, improvement in demand-side management

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