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India weighs hybrid annuity model for East-West freight corridor
The East-West Dedicated Freight Corridor may use a Hybrid Annuity Model for development. This financing framework was discussed at a conference organized by DFCCIL. The proposed corridor will connect Surat in Gujarat to Dankuni in West Bengal. Many infrastructure investors and financial institutions attended the important deliberations. This reflects strong investor confidence and broad stakeholder interest in the project.
Indian Navy secures safe passage for crude tanker Omega Trader through Hormuz
India and the Indian Navy have secured the safe passage of the Omega Trader tanker. This vessel carries 23 crew members, including 15 Indian nationals, to Sikka in Gujarat. The development occurs amid heightened security concerns in the Strait of Hormuz region. Recent attacks on commercial vessels have escalated tensions in this vital waterway. The United States launched strikes against Iran in response to these shipping incidents.
Coal India to invest $201 million in research and development by fiscal 2030
Coal India is set to invest a substantial 19 billion rupees in research and development by 2030, focusing on clean coal, net-zero technologies, and mineral recovery. The state-run miner has already committed significant funds to Indian Institutes of Technology and is overseeing numerous R&D projects. This strategic investment marks a fourfold increase in R&D expenditure for fiscal year 2025, signaling a strong commitment to innovation.
Advait Energy arm signs battery energy storage pact with Gujarat Urja Vikas Nigam
The agreement is for the development of a standalone battery energy storage system (BESS) project with an aggregate capacity of 150 MW/300 MWh. Shares of Advait Energy Transitions Ltd ended at ₹1,975, up by ₹30.95, or 1.59%, on the BSE today, June 2.
GMDC to develop India’s first AI-powered rare earth supply chain observatory with £600,000 investment
Gujarat Mineral Development Corporation Ltd is partnering with the University of Cambridge to create India's first AI-powered rare earth supply chain observatory. This initiative will track the entire rare earth elements value chain in real time. It aims to enhance India's position in rare earth supply chain resilience. The project will provide crucial intelligence for policy and strategic decisions.
KPI Green Energy arm executes BESPA with Gujarat Urja Vikas Nigam
For development of standalone BESS project of 120 MW / 240 MWh
Union mines ministry launches 2nd tranche of e-auction for 12 limestone blocks in Jammu & Kashmir
The Union Ministry of Mines has launched the second phase of e-auctions for twelve limestone blocks in Jammu and Kashmir. This initiative aims to boost mineral development and economic growth. The blocks are located in Anantnag, Rajouri, and Poonch districts. Tender document sales begin May 18, with a pre-bid conference on June 5.
Akasa Air establishes aircraft leasing unit at GIFT City, boosting India's aviation finance hub
Akasa Air has set up an aircraft leasing unit at Gujarat International Finance Tec-City. This move supports fleet expansion and aims to keep leasing business within India. Akasa joins other Indian carriers in utilizing GIFT City. This development is part of India's effort to build a domestic aviation finance ecosystem. The unit will finance a majority of Akasa's fleet.
Coal India commissions 100 MW solar power project in Gujarat
State-owned Coal India Limited has commissioned a 100 MW solar power project in Gujarat. This marks a significant step in the company's renewable energy expansion. The project received its commissioning certificate from Gujarat Energy Development Agency. This development comes as Coal India aims to increase its solar capacity. The company is working towards becoming a Net Zero energy entity.
GMDC shares rocket 18% to new 52-week high. What’s triggering the sharp surge?
Gujarat Mineral Development Corporation (GMDC) share price surged 18% to a new 52-week high of Rs 736, driven by robust trading volumes exceeding Rs 2,400 crore. The company, a major lignite producer, also announced a collaboration with NMDC to explore Rare Earth Elements in Gujarat. Despite a slight dip in Q3 profit, GMDC's stock has shown remarkable long-term growth.
KPI Green Energy secures Rs 949 cr sanction from Canara Bank
KPI Green Energy has secured a sanction of Rs 931 crore from Canara Bank in the form of a Fresh Rupee Term Loan and Rs 48 crore in the form of a Bank Guarantee, to finance the development of its 150 MW wind power project in Gujarat.
Gujarat Gas shares plunge 4% after 50% supply cut to industrial users amid Middle East conflict: Report
Gujarat Gas has slashed industrial gas supplies by 50% due to disruptions linked to the US-Iran conflict impacting regasified LNG availability. The company declared a Force Majeure event, citing circumstances beyond its control, as Qatar Energy's LNG production halted. This development significantly affects Gujarat Gas, which relies heavily on imports, particularly from Qatar.