Month: January 2011

Japan is financially backing its companies that are seeking to build green cities ” communities with low pollution and renewable energies in India and elsewhere, a report said Thursday. The public-private Innovation Network Corp. of Japan plans to invest up to 130 billion yen ($1.5 billion) in such eco-community projects, more of which are planned for China and Southeast Asia, the Nikkei daily said. The Ministry of Economy, Trade and Industry has set aside 40 billion yen in funds within its investment and loan programme for fiscal 2011 to cover…

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NEW DELHI: The government today approved a new policy for allocation of power to be generated by upcoming state-run thermal power plants , earmarking 50 per cent to the home states, while also fixing an overall target generation capacity of 1 lakh MW for the 12th Five Year Plan (2012-17). “The proposal is for allocation of 50 per cent power to the ‘home’ states, where the projects are located, 35 per cent to the other constituents of the region and 15 per cent power as unallocated power at the disposal…

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TEHRAN: The National Iranian Oil Company’s managing director said that Iran’s oil exports to long-time trading partner India had continued despite a dispute over the method of payment. “There has been no disruption in the sale and exports of oil to India in recent days,” he said on Sunday. India buys about 400,000 barrels per day of Iranian crude, Reuters reported. Qalebani said the two countries were determined to carry on cooperating despite problems agreeing a new payment method, after India said last week it would no longer use a…

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