Business Bytes

Rs 6,000 crore for Bangalore suburban rail project

The Ministry of Railways has sanctioned Rs 6,030 crore towards Bangalore suburban railway project. The promise has been made in the pink book, which details the budgetary allotment to railway projects, which was tabled in Parliament recently. It has also indicated its agreement over sharing the project cost at 50:50 ratio, with the state government bearing the other half of the 142-km Rs 12,000-crore project.

A half of the proposed railway network would be elevated, Railway Minister Piyush Goyal has said and agreed to fund half of the project cost with a condition: that the state government should sanction five times the floor area ratio for the railway land.

Recently, the state government sanctioned Rs 349 crore and accorded administrative approval to form a special purpose vehicle.

 

Odisha rail projects get Rs 5,252 crore

The Centre has allocated Rs 5,252 crore in the Union Budget 2018 for different railway projects in Odisha. It is the highest budgetary allocation to the State till date.

This year, the railway has focused on speedy construction of old projects. In view of this, it has sanctioned the highest amount of Rs 625 crore for the old and much-touted project, 289-km long Khurda-Bolangir new line. This project sanctioned in 1996-97 will connect western part of the state to coastal Odisha. It also sanctioned Rs 300 crore for Talcher-Bimalagarh new line, Rs 200 crore for Angul-Sukinda new line and Rs 200 crore for Haridaspur-Paradeep new line.

Other important new projects like Jeypore-Nabarangpur (38 km) and Jeypore-Malkangiri (127 km) new lines received Rs 150 crore and Rs 95 crore respectively. Railways sanctioned Rs 220 crore each for Sambalpur-Talcher doubling and Budapank-Salegaon doubling projects.

 

Work to commence soon on Udangudi plant

Work on the much awaited 1,320-MW supercritical thermal power project (TPP) at Udangudi in Thoothukudi district, proposed with financial support from the Centre, will commence soon, as per reports. The proposed 2 x 660 MW coal-based supercritical thermal power project will improve the power infrastructure of the State utility.

The Rural Electrification Corporation (REC), a public infrastructure finance company in India’s power sector, has come forward to provide a loan of Rs 1 lakh crore to Tamil Nadu Generation and Distribution Corporation (Tangedco) to augment production by setting up new projects. A loan agreement was signed last May. The REC recently sanctioned a loan of Rs 10,000 crore for the first phase of Udangudi TPP.

 

JSW Cement inaugurates unit at Salboni

JSW Cement has inaugurated its 2.4 million tonne per annum (mtpa) manufacturing unit at Salboni in West Bengal.

The state-of-the-art manufacturing unit will produce eco-friendly PSC cement for Eastern markets. The inauguration of JSW Cement's Salboni unit underscores JSW Group's commitment to West Bengal's economic growth and the state's emergence as India's leading manufacturing and business hub, says a report.

The Salboni unit will service JSW Cement's customer requirements in West Bengal, Jharkhand, Bihar, northern parts of Orissa etc.

JSW Cement has commenced despatches of Concreel HD cement from the Salboni unit to eastern markets. Concreel HD is a unique cement variant innovated by JSW Cement. It provides exceptional strength and sets quickly, thereby making it ideal for strength-bearing applications such as beams, columns, slabs and foundations.

 

Airport bids to get attractive; govt decides to fix fees first

Developers of new airports will have certainty on the aircraft landing and parking fees they can levy, as the government has decided to fix the rates before inviting bids, as per reports.

The decision will help attract foreign investment as it will eliminate a major regulatory uncertainty that discouraged investors to vie for airport projects in India, add reports. Airline executives also welcomed it, saying they will have more visibility on a key recurring cost.

The proposed rule will be prospective in nature, and AERA will continue to decide tariffs at airports that are currently in operation or where the projects have already been awarded, add reports.

 

SANY India hands over Piling Rig for Mumbai Metro project

SANY India has handed over a SANY SR285 Piling Rig to J. Kumar Infraprojects to be used for the Mumbai Metro project. 

 

Deepak Garg, CEO - SANY India handed over the piling rig to Nalin Gupta, Director, J. Kumar Infraprojects and Dharmendra Tiwari, Piling Unit Head, J. Kumar Infraprojects near Samata Nagar Bus Stop Malad East, Mumbai. The Piling Rig is designed to deliver excellent results and offers a maximum pile depth of 94m and maximum pile diameter of 2500mm.

 

Deepak Garg, CEO – SANY India said, “To ensure and guarantee the performance of our SANY Piling Rig SR285, we have a very strong service team based in Mumbai especially for the Mumbai Metro project with specialists for Piling Rig.  Any parts that may be required will be available at any time and would be delivered within few hours from Pune. We have also stationed a service vehicle for this highway that will be here throughout the year to service the piling machine and other SANY equipment. I want to assure you that whatever is expected out of SANY, we try and surpass those”          

 

Nalin Gupta, Director, J Kumar Infraprojects, said, “I would like to praise the whole SANY India team. The performance of the machine given to us on trial basis has been really good and we hope that this machine will also perform just as well.” 

 

The SANY India SR285 will be used for line 7 of the prestigious Mumbai Metro project near Malad east station.

 

MIAL gets nod for Navi Mumbai airport project

The Maharashtra Cabinet has given a formal approval to Mumbai International Airport Pvt. Ltd (MIAL) of the GVK Group for the construction of the Navi Mumbai international airport project. MIAL is a joint venture between the GVK Group and Airports Authority of India.

 

The project is expected to be completed by December 2019. The Greenfield project would be spread over 1,160 hectares and it would be built on PPP basis.

 

By 2034, Mumbai Metropolitan Region (MMR) will have a traffic of 100 Million Passenger Per Annum (MPPA). Forecasts suggest that passenger traffic for MMR is set to cross 45 MPPA by fiscal 2018. Mumbai airport has already handled 42 million passengers in fiscal 2016. The new airport at Navi Mumbai will take care of the additional traffic.

 

The statement said that four applicants had shown interests in building the airport but MIAL won the final bid based on security considerations and agreeing to share 12.5 per cent of the total project revenue to CIDCO.

 

Bangalore Metro project gets EUR 300 million from European Investment Bank

India will get EUR 300 million from European Investment Bank (EIB) for financing Bangalore Metro Rail Project Phase II- Line R6, according to finance ministry. Bangalore Metro Rail Project Phase II is to be jointly financed by the European Investment Bank (EUR 500 million) and Asian Infrastructure Investment Bank (EUR 300 million). The first tranche of EUR 300 million was signed recently.

 

The project is to be completed in five years from the date of commencement of work. The finance ministry stated that the project aims to ensure modern transport facility for the commuters, as per reports.

 

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