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PMO seeks whitepaper on OVL, future strategy

Sunday, December 9, 2018, 3:34 PM

After looking to sell oilfields of Oil and Natural Gas Corp (ONGC), the Prime Minister's Office (PMO) has sought a whitepaper on status and future strategy for the state-owned firm's overseas arm ONGC Videsh Ltd, sources with knowledge of the development said. At the meeting, Kutty gave a presentation on the status of oil and gas exploration and production in India.
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Govt Eyes Rs 9,000 Crore From Sale Of Land, Realty Assets Of Air India

Tuesday, December 4, 2018, 3:38 PM

The government is looking to raise around Rs.9,000 crore from the sale of debt-laden Air India's land and real estate properties. The sale aims to trim the Rs.55,000-crore debt of the national carrier and fetch a better valuation when there is a strategic sale again. Last week, government approved transfer of debt worth Rs.29,000 crore to a special purpose vehicle.
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Government okays plan to halve Air India's Rs 55,000 crore debt

Thursday, November 29, 2018, 8:26 PM

The government has cleared a plan to transfer about Rs.29,000 crore of its Rs.55,000 crore debt to a SPV that will help reduce airline's annually interest outgo substantially, a top aviation ministry official said. This was reported by ET first on November 5, 2018. According to the plan, The government is transferring the airline's working capital debt of about Rs.29,000 crore to AIAHL.

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