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ICICI, HDFC to buy stake in HPCL venture
Hindustan Petroleum Corporation Ltd's (HPCL) upstream diversification plan has picked up steam with the inclusion of financial institutions (FIs) in the equity structure. The FIs, including the likes of ICICI and HDFC, have signed memoranda of understanding (MoUs) with HPCL for picking up a 50% stake in HPCL's exploration and production venture.
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Bid to fix coal price for Bhadravati project
The dispute between the Ispat group and Coal India over valuation of fuel supply linkages for the 1082 MW Bhadravati power project has forced the Union finance ministry to intervene in the matter. The ministry has appointed ICICI to work out a compromise coal price for the project, in collaboration with the Bureau of Indian Cost and Prices.
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ONGC Videsh puts Vietnam projects on hold
ONGC Videsh Ltd (OVL) has deferred all exploration work in Vietnam following its conflict with the Vietnamese authorities over certain issue. The unresolved issues pertain to pricing and equity stakes in OVL's three trillion cubic feet gas find in Vietnam.
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Hyundai's "Santro" by Oct
Korean car maker, Hyundai is poised to launch its small car in India. The model, christened Santro, and priced at around Rs 3 lakh will hit the Indian roads in October this year.
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