Oil India Limited said that it has transferred around 2.28 crores of equity shares of Numaligarh Refinery Limited (NRL) to the Assam government for INR 217.75 per share or a total of INR 4.96 billion ($68 million). Following the transfer of the shares, Oil India Limited has reduced its equity shareholding in the Numaligarh oil […]
Engineers India Limited and Oil India Limited have entered into share purchase agreements (SPAs) for acquiring the stake of 61.65% held by Bharat Petroleum Corporation Limited (BPCL) in the Numaligarh Refinery in Assam. As per the SPA, Engineers India will independently acquire more than three crore equity shares from BPCL in the Numaligarh oil refinery […]
India Grid Trust (IndiGrid) has agreed to acquire the NER-II transmission project from Sterlite Power for about INR 46.25 billion ($630 million) in cash. The NER-II power transmission project spans the states of Tripura, Assam, and Arunachal Pradesh. The project provides interconnection between Assam and Arunachal Pradesh and gives an additional source of power to […]
Bharat Petroleum Corporation Limited (BPCL) said that its board of directors has approved the sale of the company’s stake of 61.65% in the Numaligarh Refinery for INR 98.75 billion ($1.34 billion) to a consortium of Oil India Limited and Engineers India and to the Assam government. According to BPCL, the sale will be done to […]
Baba Ramdev’s Patanjali Food Park in Assam is in trouble after the Assam Forest Department filed an FIR against its builder today for indirectly causing harm to wild elephants. The FIR was registered in the Sonitpur district where Patanjali’s Mega Herbal and Food Park is coming up at an investment of INR 1,300 crore. Salanibari […]