Multinational conglomerate General Electric Co. intends to proceed with its project to construct a manufacturing site near a port in Rio de Janeiro. The port is being built by LLX Logistica, which was formerly run by Brazilian petroleum titan Eike Batista.
Energy
State-owned Power Grid Corporation to raise up to INR7,600 crore in FPO
State-backed Power Grid Corporation is looking to raise as much as INR7,600 crore by selling 84.71 crore shares in a follow-on public offering. Shares will be priced at INR85 to INR90 apiece.
SunFarmer to build solar power project in Nepal with SunEdison grant
SunFarmer, a non-profit developer of solar power in impoverished areas, will construct its first solar power project in Nepal using a USD2 million grant from SunEdison Inc. SunFarmer is seeking donations to build 100 solar projects in the country.
Lukoil in talks with international oil players to sell stake in Venezuelan gas project
Russia's No. 2 oil producer Lukoil is looking to put up for sale its 20% stake in a Russian consortium developing a large oil project in Venezuela. Lukoil is in talks with international players after Rosneft offered a price lower than what Lukoil had asked.
Chevron's USD6.4 billion gas project in China faces another setback
Seven years after petroleum companies Chevron Corp and PetroChina entered into a joint venture agreement, the USD6.4 billion Chuandongbei gas project faces further delay. It is now expected to deliver gas in the second half of next year.
Latest News
New Orleans-based offshore service vessels provider Tidewater Inc is investing USD30 million to start its subsea operations business, Tidewater Subsea, located in the Gulf of Mexico.
Glencore Xtrata PLC, led by its chief executive officer Ivan Glasenberg, will be committing more capital in thermal coal than rivals BHP Billiton Ltd., Rio Tinto Group and Anglo American PLC.
General Motors (GM) is investing USD11 million to build a new source of energy for its Fort Wayne Assembly Plant, a move that will save the company USD5 million a year.
NRG Yield Inc, a unit of NRG Energy Inc, has agreed to purchase the assets of Nebraska-based Energy Systems Company for USD120 million in cash.
A report from the Straits Times debunked the perception that Chinese firms were facing growing hurdles in the US, citing data that China's investments in the US had nearly tripled this year.
Russian businessman Alexei Khotin could make a takeover offer for London-listed Exillon Energy Plc, a company controlled by Khotin said, setting the stage for a possible bidding war with the oil producer's second-largest investor.
The following bids, mergers, acquisitions and disposals were reported on tuesday including Adcock Ingram, Energa, Nordea Bank, Alitalia, Ben Venue, TIM Participacoes, Douglas, Mercator, Novartis, OncoMed, Kerning and Malaysia Airports
Repsol Chairman Antonio Brufau insisted on Tuesday that the government of Argentina should offer a compensation package that will convince the Spanish oil firm to settle the expropriation of its stake in energy firm YPF.
As the second-biggest mining company in the world, Rio Tinto Group, struggles against the drop in mineral prices, the company resolved to reduce its capital spending to around USD8 billion in 2015.
