January 17, 2021
A file picture of Kakinada Port×
For Aurobindo Pharma promoters, this is the second port investment in four months. Hyderabad-based Aurobindo Realty and Infrastructure Pvt Ltd will acquire a 41.12% stake in Kakinada Seaports Ltd, the second port investment in four months by the real estate and infrastructure venture formed by the promoters of Mumbai-listed Aurobindo Pharma Ltd.
Aurobindo Realty and Infrastructure will buy the stake from Kakinada Infrastructure Holdings Pvt Ltd, one of the original promoters of Kakinada Seaports, multiple sources said.
BusinessLine could not ascertain the value of the deal.
The acquisition will make Aurobindo Realty and Infrastructure the single largest shareholder in Kakinada Seaports. Other shareholders in the port operating company, includes VR Investments Pvt Ltd (30.40%), Konsortium Ports Pte Ltd (17.35%) and South India Infrastructure Development Company Pvt Ltd (11.13%).
Single window, online approval launched for commercial coal mining firms
January 11, 2021
58% of the primary energy requirement is met by coal, 2% through renewable sources Companies that have won the rights to commercially mine coal blocks will now get approvals (required to operationalise mining operations) online instead of having to physically approach various departments, with the launch of a unified platform.
The government on Monday launched a single window clearance portal where the approvals will be given in phases, as it signed agreements with several companies for commercial development of coal blocks. Companies require about 19 clearances from different departments before starting commercial mining, said Coal and Mines Minister Pralhad Joshi.