Awards Galore For Indian PSUs

Power Finance Corporation

CMD Receives Leading Energy Personality Award

Satnam Singh, CMD, Power Finance Corporation, was conferred with the ‘Leading Energy Personality – Finance’ Award by the Council of Power Utilities during the 5th India Power Awards held on 29th November, 2012 at a function organised in New Delhi. This award to Satnam Singh was unanimously decided by the jury for his outstanding contribution to the power sector.

Power Finance Corporation has also been conferred with India Power Award 2012 in the Institutional category of ‘Large Financial Institution’.

Both these awards were received by Satnam Singh, CMD, PFC from Dr M R Srinivasan, Member, India Atomic Energy Commission at a function organised by the Council of Power Utilities on 29th November, 2012.

Rural Electrification Corporation

Receives 'IPE - CSR Corporate Governance Award'

Rural Electrification Corporation (REC) has received the 'IPE - CSR Corporate Governance Award' in recognition of its best practices in CSR and the contribution made by the organisation, which has brought about a positive change to the people and the community at large. C P Bhatia, Zonal Manager, REC Western Zone, Mumbai, received the award on behalf of REC from Professor S Mahendra Dev, Director, Indira Gandhi Institute of Development Research, Delhi, in the presence of Professor R K Mishra, Director, Institute of Public Enterprise (IPE), Hyderabad. The IPE-CSR awards are endorsed by the World CSR Congress, CMO Asia & Asian Confederation of Business.

BHEL

Set To Invest Rs 2000 Crore For Solar Gear Making Plant

BHEL plans to invest upto Rs 2000 crore for setting up a solar equipment manufacturing facility having a capacity of 600 MW. BHEL, grappling with persisting headwinds in the power sector, is betting on business diversification spread across various areas including the solar energy and defence sectors. Solar equipment from some countries is coming into India at prices lower than their market value. Currently, there is no customs duty on imported solar power equipment.

Oil India

Government To Float OIL's Rs 2500 Crore Issue

The government has decided to sell a 10 per cent stake in oil explorer and producer Oil India (OIL) by January 15, 2013 after some government and industry officials said that it would be difficult to hold effective road shows abroad because of the Christmas-New Year break. This is the first time the government has given a formal time-frame for OIL's offer for sale that aims to raise Rs 2500 crore.