For the Rs 16,375 crore project, the equity will be Rs 3,439 crore, a consortium of banks will provide loans of Rs 11,478 crore and the government grant in the form of viability gap funding will be Rs 1,458 crore.
Due to protests against land acquisition by the local villagers in Orissa, Posco has not been able to get the required land for development of its tax-free zone and the issue has been pending for several years.
Earlier, five directors of the company had already stepped down from the board. They are Sanjeev Kumar Jindal, Shobhit Mahajan, Atul Ashok Galande, S Shabbeer Pasha and Vijendra Singh Jafam.
Suzlon Energy today said its UK-based unit REpower has signed two contracts for supplying turbines for a new wind farm in England.
FMCG firm Marico today said its board has approved restructuring of the company's businesses and corporate entities with effect from April 1.
Bharti Infratel said Khurana will be a member of the core executive council team of Bharti Infratel and report to the CEO Devender Singh Rawat
Telecom tower firm Bharti Infratel today announced it is has appointed Sunil Khurana as Chief Operations Officer (COO) of the company.
JSW Steel has increased prices by about 2 percent or about Rs 750 per tonne across all categories for the current month.
Drug firm Dr Reddy's Laboratories today said it has launched it's generic Finasteride tablets used for treating male pattern hair loss in the American market.
Air India's revenue also posted an increase of 6.5 percent during April-September this year at Rs 4,757 crore.
The forum, however, refused to grant the claim of over Rs 48,000 sought by the flier.
HDFC Bank has decided to cut its benchmark lending rates by 0.1 percent, making loans cheaper for its borrowers in the new year.
India's third-largest cement maker, Ambuja Cements Ltd., plans to invest Rs 2,000 crore for a five million tonnes integrated cement plant in Rajasthan and the northern region of the country, a top company official said Friday.
Federal Bank today said it has granted Employee Stock Options worth around Rs 114 crore to its employees this year.
All through the night the visibility did not dip below 1,100 metres on all three runways when airport witnessed moderate fog.
Flight operations were badly hit at the IGI Airport due to dense fog for past three days leading to delay in schedules of hundreds of aircraft.
Vedanta Group firm Sesa Goa today said it has acquired remaining 49 percent stake in Liberia's Western Clusters project for $33.5 million (about Rs 185 crore).
GMR, which is developing 900 MW Upper Karnali Project had requested the government to extend the license after it expired recently.
State-run Power Grid Corp today said its board has approved investments worth Rs 252.31 crore for two transmission projects.
In September this year, the company's board had passed a resolution asking Corporate Debt Restructuring cell to rejig its existing debt. The total exposure of banks to Deccan Chronicle Holdings stands at around Rs 5,000 crore
Essar Shipping has said that it is planning to convert around Rs 800 crore of total Rs 5,500 crore debt into dollar loans to bring down the interest burden.
Tata Power expects to complete modernisation work of one of the 500 MW units at its long-running Trombay thermal plant, that would allow use of coal as a fuel for electricity generation, by early 2015.
Mahindra & Mahindra, India's largest maker of sports utility vehicles, is planning to set up its small car plant in Andhra Pradesh.
Private sector ship-builder ABG Shipyard today said it has bagged a Rs 485 crore order to build a cadet training vessel for the Navy.
NIIT today said it has tied-up with Ireland's Digital Marketing Institute (DMI) and aims to train 25,000 students over the next three years in the digital marketing course.
KEC International, an RPG Group company in the engineering, procurement and construction segment, said it has secured orders worth Rs 612 crore in last one month from various customers across the world.
IT major Infosys plans to roll out in about two years, its Rs 700-crore project that would help India Post transform its banking and insurance operations cross 150,000 post offices in the country.
The International Finance Corporation (IFC), part of the World Bank Group, today said it is open to the idea of partnering with Religare Enterprises in its proposed banking foray.