A report by brokerage firm Bank of America Merrill Lynch shows that government may get an additional revenue of $2.2 billion owing to its decision to double domestic natural gas price. The government would use this additional revenue, which it may get through higher taxes and profit, to fund rise i
Author: admin (Infratructure Today)
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ONGC set to award vessel contract to Cochin Shipyard
Media reports indicate that ONGC is in the process of giving a contract to Cochin Shipyard for manufacturing a seismic ship. A seismic vessel carries equipment that sends down sound waves to the sea-bed and capture their reflections. Cables (called ĂâstreamersĂâ) several kilometre long are laid is the water and an airgun is fired from the vessel. ĂâHydrophonesĂâ on the cables, which lie at regular inter
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Weakening rupee may hit finances of OMCs
The financial position of state-run oil marketing companies (OMCs) may be adversely affected because of the depreciation of rupee against the dollar. Rupee's depreciation would put strain on the working capital of oil companies. Some reports indicate that the borrowing of oil companies, which was in the range of Rs 1.5 lakh crore, may rise further if they don't raise domestic fuel prices to compensate for the rise in import cost.
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OMC underecovery on the rise due to rupee weakness
Media reports indicate that state-run oil marketing companies (OMCs) are incurring an under-recovery of Rs 8.60 for per litre sale of diesel because of the sharp depreciation in rupee. This may be compared to the under-recovery of just Rs 2.62 in March. Owing to the decline in the rupee value against dollar, losses on diesel rose to 8.60 per litre and after adding local sales tax or VAT, the desired increase in retail
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Cargo handling rises 12% in New Mangalore Port
During Apr-June 2013, New Mangalore Port handled a total of 9.66 million tonne of cargo and this is 12.2 percent higher than 8.61 million tonne handled during the year-ago period. The growth in the cargo volume is led by crude oil and coal, media reports suggest. The port traditionally handles crude oil and petroleum products of Mangalore Refinery and Petrochemicals (MRPL). Also, it handles a considerable amo
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TAMP can ask CCI to probe possible anti-trust behaviour
Tariff Authority of Major Ports (TAMP) may seek the service of the Competition Commission of India (CCI) to probe anti-competitive practices of terminal operators or port companies in future. With the shipping ministry set to liberalise tariff regime in the port sector, the possibility of cartelisation and other anti-competitive behaviour
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Cargo volume at PPT rises 45% in June quarter
During Apr-Jun 2013 quarter, cargo volume at Paradip Port Trust (PPT) rose 45 per cent to 17 million tonne (mn t) from 11.74 mn t in the year-ago period. In an official statement, the only major port in Odisha said the cargo volume during the quarter exceeded the target set for the period by 5.79 per cent.Among all major ports in the country, the port is ranked at second position in terms of both volume and percentage growth in traffic. In June alone, the throu
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Department organises workshop
The Ports Department of Kerala government organised a workshop on coastal shipping with a thrust on the improvement of the Kollam cargo port on July 5. Participants in the workshop would discuss coastal environment security, shipping channels, a master plan for Kollam port, international shipping rules, rights of the fishing community and the employment opportunities arisin
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Railways invite RfQ for Rs 320 bn projects
Media reports indicate that the Indian Railways invited requests for qualification (RfQ) from domestic and foreign firms for setting up two locomotive factories at an investment of Rs 32,000 crore. The Railways expects to award these two projects, which include setting up diesel locomotive factory and a electric locomotive factory, by December. The Railways planned to set up an electric locomotive factory at Madhepura and a diesel locomotive factory at Marh
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Land to be acquired for Rs 5,000 cr Surat Ring Road
For the Rs 5,000 crore Surat Outer Ring Road project, land acquisition would begin by Diwali. Surat Municipal Corporation (SMC) and Surat Urban Development Authority (SUDA) are ready with 11 draft TP schemes for development of the proposed 500 square metre of area on both sides of the road.