Project owner or contractor-who should be buying the insurance? Vikash Khandelwal explains. On a recent flight back to Delhi, I bumped in to a builder friend, who told me that in most of his projects, he asked his various contractors to buy insurance policies on their contracts.
Category: ECONOMY & POLICY
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HSBC global trade forecast
India is set to topple USA as the biggest importer of goods for infrastructure (materials needed for infrastructure projects) in the world by 2020. It will continue to hold this position till 2030, as it builds civil infrastructure, bolstering demand for overseas goods, according to HSBC´s latest Trade Forecast report.
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Israel Ambassador visits IDE plant
During his recent visit to Chennai, Ambassador of Israel Alon Ushpiz took a visit to IDE´s 100 million liters per day (MLD) Nemelli desalination plant. The plant, designed by MECON, was built by IDE Technologies (Israel) together with local Indian partner on EPC basis with a seven years operation and maintenance contract awarded by end client CMWSSB to IDE consortium.
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Actuant mfg facility in Bangalore
Actuant India announced the launch of its manufacturing facility in Bangalore. The facility will support the company globally by offering value-added capabilities to drive business growth and accelerate operational excellence.
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High Speed Rail Corporation inaugurated
The Union Railway Minister Mallikarjun M Kharge formally launched the High Speed Rail Corporation of India (HSRC), a subsidiary of Rail Vikas Nigam (RVNL) in Delhi. He also revealed the logo of HSRC that has been designed by National Institute of Design, Ahmedabad.
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Govt to launch IPDS at Rs 500 cr
During the 12th Five Year Plan, the Union Cabinet Committee on Economic Affairs has approved the launching of a new Integrated Processing Development Scheme (IPDS) with a total cost of Rs 500 crore and to establish four to six brown field projects and three to five green field projects addressing the environmental issues faced by textile processing units.
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Xylem bags order in Gujarat
Essar Projects India has awarded a contract to Xylem Inc to install its Sanitaire ICEAS biological treatment system in a waste water treatment plant in Jamnagar of Gujarat.The new plant planned will treat all the municipal waste water in Jamnagar.
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Punj Lloyd secures Rs 2.75 bn contract
Punj Lloyd has bagged a cross country pipeline contract worth Rs 2.75 billion. The company received the order for setting up of various infrastructure facilities. The contract includes civil, structural, mechanical, electrical & instrumentation, piping, cross country pipelines, horizontal direction drilling, equipment assembly, fabrication and erection, marine work, tankages work and electrical and other associated and miscellaneous works and rectification of defective works at a leading refiner
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IL&FS bags UP rural electrification project
In Bulandshahr district of Uttar Pradesh, IL&FS Engineering and Construction Company has received an order from Paschimanchal Vidyut Vitran Nigam for rural electrification (RE) works. Under the central government's Rajeev Gandhi Grameen Vidyutikaran Yojana scheme, the turnkey project has been awarded to IL&FS and is valued at Rs 149.68 crore.
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Indo-Tibetan Border Police to get Rs 12.6 bn
Union Minister of State for Home RPN Singh has said that the government is to sanction Rs 12.6 billion for construction activity at Indo-Tibetan Border Police (ITBP) posts at various places. The construction activity includes accommodations for ITBP jawans, the Minister said at the 52nd ITBP Raising Day parade in Delhi.