The US senate has, finally, approved the much hyped Indo-US nuclear deal. Many industrial associations and commerce bodies have greeted the government on its success. CII, Ficci and Assocham said that the deal would terminate nuclear isolation of the country and provide energy security to India.

Speaking to the media on his way back to the Country, the PM was calm and composed. After successfully pulling off the Nuclear deal with France and positive response from the President of Pakistan on all issues, Mr. Singh said, “We have given this country a purposeful government, a government which by-and-large has the support of all constituents of our coalition”. 

The PM spoke on various issues ranging from the nuclear deal to land acquisition case in Singur to the terrorist blasts and attacks on Christians. 

Steel Authority of India (SAIL) and engineering & construction firm Larsen & Toubro (L&T) have signed a memorandum of under standing (MoU) for setting up a joint venture (JV) company to develop, manage and own captive and independent power plants, to meet the future power requirements of SAIL.

The JV company will develop a 1,600 mw (2 X 800 mw) greenfield coal- based power plant using super critical technology. In addition, the companies will keep the option to further expand capacity by 800 MW/1600 MW at the same or some other location.

After its failed persuasion to seek the Nuke deal like India with the US, Pakistan resorted for a different route when it planned to seek the same though this time from a different source. China seems to come to Pakistan’s aid this time with its bid to set up10 new atomic power plants in the forthcoming two decades.

State-run Power Finance Corporation has informed that the Board of Directors of the Company at its meeting has given approval to participate in the equity of Power Exchange India Ltd (PXI) up to 7% share capital of PXI not exceeding Rs 1.75 crore.

PXI is a company promoted by NSE and National Commodity and Derivatives Exchange (NCDEX), for setting up power exchange to provide electronic, transparent and neutral platform for trading of electricity.

Apart from this, PFC may also participate as a Professional Clearing Member in PXI.

Tata Power Company (TPCL), India's largest private sector utility power provider, has signed an agreement with State-run electricity major Damodar Valley Corporation
(DVC), to jointly explore options for capacity expansion, coal mining and establishing a research and development (R&D) facility.

Both firms also plan to increase the capacity of Maithon Power Limited (MPL) by over two-fold.

MPL is a joint venture between Tata Power and DVC, with Tata holding 76% stake.