Contract changes hold up NELP VII

Contract changes hold up NELP VII
Oil and gas slowdown
Subtraction in blocks on offer due to security concerns
SPECIAL CORRESPONDENTMumbai
The launch of the seventh round of the New Exploration Licensing Policy (NELP VII) has been deferred due to changes in contractual terms. The delay is hugely on account of the government's insistence that law ministry mandarins should vet the changes before the round is formally announced. It is learnt that the revision, which is of a significant nature, is intended to clear hurdles in the way of attracting foreign and private investment in the oil and gas sector. The changes as per the suggestions by the empowered group of ministers (E-GoM) constituted to resolve the natural gas pricing and its allocation issues relate to the bid evaluation criteria (BEC) and a model production-sharing contract (PSC) for the future. Industry sources aver that the price discovery process on arms-length basis will be adopted in future NELP contracts only after the government approves the price formula.

The Empowered Committee has approved amendments which state that until such time as the total availability of natural gas from petroleum production activities in India meets the total national demand as determined by the government, each company comprising the contractor, should sell in the domestic market in India all of the company's entitlement to natural gas from the contract area.

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Dr. Subbrami Reddy Presents the Much Awaited Construction World NICMAR Awards 2007

Top 60 Companies Receive Awards Across12 Different Categories.Winners include Maytas Infra, Subhash Projects, Era Infra, Essar Constructions, Navayuga Engineering, Lanco Infratech, L&T, BEML, ECEL, ACE, Atlas Copco etc.

The much awaited annual largest event: Construction Awards "Construction World NICMAR Awards 2007" were held on a very grand scale held at ITC Maratha on 30 th October, 2007. Construction World, the largest circulated construction magazine across India and the Gulf with independent editions, declared its 5th annual awards "Construction World NICMAR Awards 2007".
Mr. Pratap Vijay Padode, MD, ASAPP Media Information Group informed "Construction stocks are ruling the stock markets too and we have added new categories of real estate in our model for evaluation of growth. We are happy that we have been able to bring this sector into limelight by defining new standards of professionalism and achievement".

The awards were presented by Chief Guest Dr. T. Subbrami Reddy, Union Minister of State for Mines and Guest of honor Shri. M.Venkata Ramana Rao, Minister of infrastructure & investment, ports, airports & natural gas, Government of Andhra Pradesh . Around 500 top level corporate captains of large corporates from across India were present to attend this function. Also present were Atul Tandon, Chairman, ASAPP Media, Dr. A Ramakrishna, Ex MD L&T and filmmaker Ashok Pandit.

There are overall 60 awards. The categories for which are 1) India's most admired companies 2) Fastest Growing Construction Companies 3) Fastest Growing Construction Equipment companies 4) Fastest Growing Building Material companies 5) Fastest Growing Real Estate companies

The list of the panelists who had short listed the names of the companies for above categories for awards includedList of Advisory Panel in 2007

1) S. A. Reddy, Deputy Managing Director, Gammon India Ltd.,
2) Vikram Sud, Group Chief Operation Officer, Kotak Mahindra Bank
3) Niranjan Hiranandani, Managing Director, Hiranandani Developers Pvt. Ltd.
4) Dr. Mangesh Korgaonkar, Director General, NICMAR
5) Daksesh Parikh, Executive Editor, Business India
6) Sunil Damania, Executive Editor, Dalal Street Journal
7) Ashish Raheja, Managing Director, K Raheja Universal Pvt. Ltd
8) Anil Singhvi, Managing Director ICAN Investment Advisors Ltd.
9) Chetan Shah Director Mergers & Acquisitions Vice Chairman's Office The Indian Hotels Company limited.


For more information:
ASAPP Media Pvt. Ltd.
A-303, Navbharat Estates, Zakaria Bunder Road, Sewri (West), Mumbai 400 015, INDIA. Tel: 91-22-2419 3000 (Board Line), Fax: 24175734

A Vote of Thanks by Mr. N K Nag

Mr. N K Nag, Executive Director (M&A), MBA, proposes a vote of thanks.

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Mr. Atul Tandan, Chairman, ASAPP Media informing about group future plans

Mr. Atul Tandan, Chairman, ASAPP Media Information Group informs the audience about the group’s future plans at the Construction World Awards 2007.

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A Vote of Thanks by Falguni Padode at CW Awards 2007

Falguni Padode, Managing Editor, CW, sums up the proceedings with a vote of thanks.

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Dr A Ramakrishna, Larsen and Toubro at CW Awards 2007

Dr A Ramakrishna, Advisor, Larsen and Toubro, presented the industry’s envisioned future in his keynote address.

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Essar Constructions awarded at the CW Awards 2007

Mr. V N Paradkar, CEO, Essar Constructions, receives the award for the Third Fastest Growing Construction Company in the Large Category.

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