The Union Commerce Ministry has decided that exporters who import goods and ship them to Iran after value-addition will not be required to produce 'goods of Indian origin' certificate for making rupee payments. The government has directed UCO Bank, entrusted with handling rupee payment to Indian exporters to Iran, not to insist on the 'Goods of Indian Origin' certificate.
Category: Ports & Shipping
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GAIL to set up Rs 3,108 cr LNG terminal at Paradip port
For setting up an offshore LNG (liquefied natural gas) terminal at Paradip Port in Odisha coast, India's largest State-owned natural gas distributor GAIL (India) has entered into a memorandum of understanding with Paradip Port Trust (PPT) at a cost of Rs 3,108 crore.
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Ennore Port to build one more coal berth at Rs 270 cr
By deciding to construct an additional coal berth at a cost of Rs 270 crore, the Ennore Port (EPL) has decided to take on the competition from the Krishnapatnam and Karaikal ports on the eastern coast of India. To handle about 12 million tonne per annum (mtpa) EPL has two coal berths.
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Centre gets petitions over Vizhinjam port project
Over the multi-crore proposal Vizhinjam international seaport project in Kerala, a battle of petitions is going on right before the Unin Ministry of Environment and Forests (MoEF) expert panel. While some petitions are advocating for the project, some are pleading against the same project.
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Now speedy clearance of exports in Kohi port
An export processing centre and Gate Module have been launched by the Customs Department at ICTT Vallarpadam for speedy export clearance. The ‘Customs Export Processing Centre’ (CEPC) and Gate Module of the Indian Customs EDI System (ICES) were inaugurated by JM Shanthi Sundharam, Member, Central Board of Excise and Customs (CBEC), at a function in Kochi.
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Kandla Port Trust takes over ABG’s KCTPL
Kandla Port Trust (KPT) has secured the Kandla Container Terminal's (KCTPL) Rs 110 crore debt lent by Axis Bank and UCO Bank. The takeover has been done in the proceedings before the Gujarat High Court. Kandla Container Terminal is a subsidiary of ABG Infralogistics.
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GAIL, Paradip Port to set up Rs 3,108 cr LNG terminal
For setting up an offshore liquefied natural gas (LNG) terminal at Paradip Port in Odisha, GAIL (India) and Paradip Port Trust have on October 26 signed a memorandum of understanding for an estimated cost of Rs 3,108 crore.
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Adani Ports net profit up at Rs 342 cr
For the quarter ended September 30, 2013, Adani Ports and SEZ on October 26 reported over 24 per cent jump in consolidated net profit at Rs 341.83 crore. The firm had reported a net profit of Rs 275.56 crore in the July-September, 2012-13 fiscal.
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New wage settlement signed for port & dock workers
For port and dock workers, a new wage settlement was signed on October 25 in New Delhi before the Chief Labour Commissioner. The settlement was signed between the five major port and dock workersÂ’ federations and the Indian Port Association, the governing body of major ports. The settlement would come into force from January 1, 2012.
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Rains hit cargo handling at Vizag port
After the 'Samaikhyandhra' protests, now cargo handling operations at Visakhapatnam port have been hit by incessant rains over the last three to four days. At least eight berths have been hit at the Visakhapatnam Port Trust (VPT) due to the incessant rains, say media reports.