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Business Economy


Construction work for world's largest LPG pipeline connecting Gujarat to UP to start in 8 to 10 months

Ahmedabad, Aug 13 (UNI) The construction work for the world's longest LPG pipeline to connect Kandla port in Gujarat to Gorakhpur in Uttar Pradesh covering a distance of 2757km across three states including Madhya Pradesh would start in 8 to 10 months, a highly placed source in the IndianOil which hold 50% stake in the Rs 10,000 crore joint venture project with two other oil and gas PSUs BPCL and HPCL, said on Tuesday.
"The first bid meeting for the same had taken place in the last week of July and after completion of other formalities and processes, the construction work for the pipeline that would supply LPG to the 22 bottling plants directly from the import terminal in Kandala, Indian Oil refinery in Koyali and BPCL refinery in Bina, would start in 8 to 10 months. The Joint Venture for the purpose (BPCL and HPCL having 25% stake each) was formed in June this year,' the source told UNI.

"Once the work starts, the deadline for completion was 36 months. The pipeline in addition to having direct links to 3 bottling plants in Gujarat, 6 in MP and 13 in UP, will also supply gas to 21 other bottling plants in Gujarat, Rajasthan, Madhya Pradesh, Maharashtra and Uttar Pradesh through road-bridging," he said.

He said that the this pipeline alone could supply 8.25 million tonnes of LPG per year, which amounts to about 25 per cent of the country's current LPG demand.
UNI RAJ SHK1856
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CEAT Limited launches second Truck Service Hub in AP

24 Aug 2019 | 7:11 PM

Kadapa, Aug 24 (UNI) CEAT Limited, a leading Indian tyre manufacturer has launched its second Truck Service Hub (TSH) in this district of Andhra Pradesh.

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Govt withdraws enhanced surcharge on tax payable on transfer of certain assets

Govt withdraws enhanced surcharge on tax payable on transfer of certain assets

24 Aug 2019 | 3:46 PM

New Delhi, Aug 24 (UNI) Tax payable on gains arising from the transfer of derivatives (Future & options) by foreign portfolio investment (FPI) which are liable to special rate of tax under section 115AD of the Act will be exempted from the levy of the enhanced surcharge, government said on Saturday.

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Bullion Market Closing rates

24 Aug 2019 | 3:12 PM

Chennai, Aug 24 (UNI) Following is the bullion markets
closing rate here today.

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BUSINESS-KERALA-RUBBER CLOSING

24 Aug 2019 | 2:46 PM

Kottayam, Aug 24 (UNI) Following were the rubber rates announced
by the Rubber Board here today per quintal
Kottayam
RSS FOUR 14000
RSS FIVE 13600
Kochi
RSS FOUR 14000
RSS FIVE 13600.

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Kozhikode Coir Market

24 Aug 2019 | 2:44 PM

Kozhikode, Aug 24 (UNI) Following were the rates in the
Kozhikode Coir Market today per quintal.

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