Powering Up The Power Sector

Powering Up Finances

One of the most critical elements of a infrastructure project especially in the power sector is the financial side. The financial closure of a project is the most important stage in the execution of such projects. NTPC has tied up foreign currency loans to the tune of USD 430 million for its Kudgi and Auraiya projects, which is a step towards the financial closure of both of these projects. The two separate loans have been granted by Japan Bank for International Co-operation (JBIC), a policy based financial institution of the Japanese Government. The public sector power producer signed up a term loan of USD 350 million with the JBIC to finance the supplies and services from Japan as well as India for the first stage of 2400 MW Kudgi Super Thermal Power Project Stage-I (3x800 MW) located in Karnataka. The remaining of the loan amount is meant for the Auriya project, details of which are presently not av available. 

Pain Management A Sweet Spot

Developed markets are money minting machines for pharma companies. Cadila Healthcare has received the US health regulator's nod to market Etodolac extended release tablets, used in the treatment of arthritis, in the American market. The company has received the final approval from the USFDA to market this drug prescribed for the treatment of juvenile arthritis, rheumatoid arthritis and osteoarthritis which will certainly bring in good amount of revenues for it going forward.

Exploring Co-operation

Oil & Natural Gas Corporation (ONGC) has signed an agreement with Japanese conglomerate Mitsui & Co wherein it will work closely with it in oil and gas exploration activities. This is the third pact between the two firms since 2012. The Memorandum of Understanding (MoU) provides for co-operation in exploration and production of conventional and unconventional petroleum and natural gas in India and other third-world countries. The agreement would pave the way for opportunities such as setting up of a re-gasification terminal at Mangalore or any other mutually identified locations, including marketing of re-gasified LNG. Both companies would seek to collaborate on new LNG transportation technologies and gas demand creation in various areas, including household LNG and gas-based plants.

Sell To Shape Up

The largest mobile telephone operator, Bharti Airtel is looking at hiving off its South Asian towers business. Reports suggest that the company is likely to sell about 70 to 80 per cent in the tower arm. Talks about the possible sale of stake have gained momentum after the interest shown by some prospective buyers. Among the companies that have displayed interest in the business are American Tower Corporation (ATC), PE firm Carlyle and Blackstone. Bharti's South Asian business geographically includes Bangladesh and Sri Lanka and is currently valued at USD 400 million.

Injecting Growth

Drug major Lupin recently announced the acquisition of Netherlands-based Nanomi BV for an undisclosed amount. With this the company has forayed into the technology-intensive injectables space and the acquisition will help it to make significant inroads in the niche area of complex injectables.