The hike in export duty on iron ore, increase in railway freight rates for export cargo of ore and the ban on illegal ore mining affected exports of the raw material. Gangavaram Port exported only 271,000 tonne this year as against 2.1 million tonne last fiscal. Other ports in Andhra Pradesh Visakhapatnam and Kakinada deep water ports lost 30 per cent in iron ore cargo traffic during 2012-13. In 2011-12, Kakinada Port
Tag: Andhra Pradesh
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AP govt takes steps to expedite project at Gangavaram Port
Andhra Pradesh government is taking steps to evolve a time-bound action plan to implement the Rs 4,500-crore LNG terminal project at Gangavaram Port. The proposed terminal, which is being jointly set up by the Gangavaram Port, and the Petronet LNG, will have an initial capacity of 5 million tonne per year. Work on th
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Court allows SKS Microfin to resume business in AP
In an interim order, the Supreme Court allowed SKS Microfinance to resume microlending operations in Andhra Pradesh without securing a no-objection certificate from the state government. MFI operations in the state, by and large, came to a standstill after the state government introduced the Andhra Pradesh Micro Finance Institution (Regulation of Money Lending) Ordinance 2010
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Credit Suisse expects better prospect for cement firms
In the next two years, prospect of cement companies may improve as supply pressure eases and demand rises, a research report by Credit Suisse shows. Cement firms have been battling supply glut because of excess capacity, which was built in anticipation of strong demand from the infrastructure projects
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AP govt to convince Krishnapatnam port for new port project
Andhra Pradesh government said it would take efforts to convince Krishnapatnam port to allow the state to construct a port at Ramayapatnam, which is less than 100 km from Krishnapatnam. The Krishnapatnam port, located in Nellore district, raised objections over the proposed port in Ramayapatnam on the ground that it would fall within the exclusive zone of 100
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Alcatel-Lucent bags Telenor order
Telecom equipment firm Alcatel- Lucent said Telenor has appointed it to provide operational support and business transformation services for three circles of Gujarat, Maharashtra and Andhra Pradesh.
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Road infra cos face problems as banks are wary of lending
Hyderabad-based IVRCL won a contract from the National Highways Authority of India (NHAI) on March 31 last year, to develop a 121-km stretch of road between Rajahmundry and Gundugolanu in Andhra Pradesh. Almost a year later, the company has still not managed to arrange bank loans for the Rs 1,617 crore project.
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AP’s solar tenders oversubscribed, TN stumbles
While Tamil Nadu's solar tender for 1 gigawatt — one of the biggest in the country — received bids for only half the capacity on offer, a similar tender by Andhra Pradesh has been oversubscribed by 34 per cent. The tender is Andhra Pradesh's push to mitigate a power crisis by adding capacity through the solar route. Both the southern states are facing huge power deficits.
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Road works in Vijayawada slowed due to land acquisition
In Andhra Pradesh, the delay in land acquisition process in seven villages has become a bottleneck for widening the Vijayawada-Machilipatnam highway into four-lane road. District Collector Budhaprakash M Jyothi asked the revenue divisional officials to speed up the process to hand over the land to the contractors so as to start the work.
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Road works in Vijayawada slowed due to land acquisition
In Andhra Pradesh, the delay in land acquisition process in seven villages has become a bottleneck for widening the Vijayawada-Machilipatnam highway into four-lane road. District Collector Budhaprakash M Jyothi asked the revenue divisional officials to speed up the process to hand over the land to the contractors so as to start the work.