Reliance Industries Ltd (RIL) has pocketed two oil blocks in Iraq’s Kurdish region.
RIL has signed up a deal for the blocks ‘Rovi’ and ‘Sarta’ in northern Iraq with the autonomous Kurdish Regional Government (KRG).
The blocks measuring 450-500 sq km have an oil-bearing structure of around 80%, and Reliance is confident of making a discovery soon. RIL paid a signing amount of $15.5-17.5 million for the two blocks.
According to the deal, the RIL’s wholly owned arm Reliance Exploration and Production DMCC would be served as an operator.

Due to strong demand, large volumes of CTC tea were sold at high rates, during last week, in Coonoor.

Mumbai: The fruits and vegetables processing firm, Temptation Foods has announced that it has bought ‘Everfresh,’ the food processing division of Chambal Fertilisers and Chemicals (CFCL).

The financial details of the deal were not disclosed yet.

The company will fund the recent acquisition from the amount (Rs 114 crore) lifted through its recently completed QIP (qualified institutional promoters) issue.

New Delhi: Caisse de Depot et Placement du Quebec (CDPQ), Canada’s biggest public pension fund is all set to make investment in the prospering Indian realty segment.

The pension fund, set up in 1965, plans to invest around $1.7 billion by 2012.

This would be CDPQ’s initial investment in India.

The company sources said that CDPQ’s Chief Executive Officer (CEO), Mr. Paul Campbell, will came to India to fulfill the obligatory conditions related to the deal.

CDPQ would concentrate on building up real estate opportunities in Mumbai, Delhi, Bangalore and Hyderabad, the sources added.

CDPQ would make Indian investment under its SITQ division that specializes in the investment and management of office buildings.

Mumbai: Private equity firm Blackstone Group has invested $65 million to get hold of 26% stake in Indian engineering company MTAR Technologies Pvt Ltd.

The Hyderabad-based MTAR makes critical components and products used for aerospace and defense applications. The funding will be a mix of primary and secondary equity.

Akhil Gupta, chairman of Blackstone Advisors India Pvt Ltd said, “We are very enthusiastic about this investment as we foresee a huge growth opportunity for MTAR both in domestic and global markets.”

Reliance Retail has unveiled their latest brand of retail stores, which has been named as ‘Reliance Footprint’.