Financial Daily from THE HINDU group of publications
Wednesday, Dec 03, 2003
Financial Daily from THE HINDU group of publications Wednesday, Dec 03, 2003 |
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Policy Industry & Economy - Power Government - Policy Cabinet panel okays PowerGrid proposal Our Bureau
New Delhi , Dec. 2 THE Cabinet Committee on Economic Affairs (CCEA) today approved a proposal of Power Grid Corporation of India Ltd to set up the power evacuation system for National Thermal Power Corporation's proposed 1980 MW Seepat power project. The transmission project will evacuate power to the western regions of the country and is being set up at a cost of Rs 1672.98 crore. The Cabinet today also approved award of exploration blocks under the fourth round of the New Exploration Licensing Policy. According to sources, ONGC has bagged 15 of the 24 oil and gas exploration blocks on offer. Cairn Energy won an on-land block on its own strength and one in association with ONGC. BPCL bagged three blocks in partnership with ONGC. Meanwhile, HPCL bagged two blocks in consortium with ONGC. Gujarat State Petroleum Corporation bagged three on-land blocks - one in partnership with Jubilant Enpro Ltd and GeoGlobal Resources, another with Jubilant Enpro, GeoGlobal and Price Petroleum and the last with Enpro Finance and GAIL (India) Ltd. RIL, which teamed up with Hardy Oil of UK to bid for eight of the 12 deepwater blocks on offer, bagged one block.
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