The report of the Comptroller and Auditor General (CAG) of India on the public private partnership (PPP) port projects implemented by the Andhra Pradesh government was tabled in the State Legislative Assembly recently. The report identified some key faults on the part of the state government in designing the contracts
Tag: India
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Federal Bank to set up 15K ATMs, hires Tata firm
To install 15,000 White-Label ATMs (WLAs) across India, private sector lender Federal Bank has tied up with Tata Communications, the Bank said on June 24. White-Label ATMs are to be set up by non-banking entities on behalf of 'sponsor banks' but they would not carry the brand label of any bank, and would be accessible to card-holders of all the banks for a fee.
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Facilitation of harmonious substitution of Concessionaire in the ongoing and completed National Highway Projects
The Cabinet Committee on Economic Affairs today approved the proposal to facilitate harmonious substitution of Concessionaire in ongoing and completed National Highway Projects.
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DP World to invest $200 mn to build JNPT terminal
To build a new container terminal at Jawaharlal Nehru Port in India, DP World will invest about $200m., DP World has said. The world's third largest port operator will build the terminal next to the Nhava Sheva International Container Terminal (NSICT), which DP World currently operates. The new 330-metre berth with 27 hectares of yard will add 800,000 TEUs (twenty foot equivalent container units) of container capacity and help ease congestion at Jawaharlal Nehru Port.
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Land ports to be developed jointly by Bangladesh, India
In order to ensure cost-efficiency and expeditious trading between the two countries, India and Bangladesh decided to develop their land ports. This decision was taken at a recent meeting of the Joint Working Group. Officials from both the countries held the 8th meeting of the India-Bangladesh Joint Working Group on Trade. As part of this plan, India will spend Rs 4.67 bn to develop seven import tax stations at Agartala, Petrapole, Dhok
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HDPEL to rope in a firm to revitalize business
Hooghly Dock & Port Engineers (HDPEL), situated at Kolkata, is one of the oldest shipyards in India, which is in the business of ship building and shop repairs.
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Fitch upgrades India’s rating outlook
Global ratings agency Fitch Ratings upgraded the outlook on India's sovereign rating to "stable" from "negative" noting the government's steps to reduce fiscal deficit. The rating agency said the Indian authorities have been successful in containing the upward pressure on the Union Budget deficit in the face of a weaker-than-expected economy
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Bangladesh govt refuses access to Chittagong port
Bangladesh government refused to allow India to access Chittagong port unless the latter resolves Teesta river issue. Giving access to Chittagong would benefit trade and development in IndiaÂ’s northeast region, as well as to Bangladesh. India had been asking for access to this port for over a decade. An agreement to this effect was supposed to be signed during Prime Minister Manmohan SinghÂ’s visit to the country in September. But this could not happen because West
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Govt evaluating foreign airlines’ demand of traffic rights
India is evaluating demands by various foreign airlines to enhance bilateral air traffic rights in the wake of a massive hike granted to Abu Dhabi following the Jet-Etihad deal. The Union government is planning to evaluate India's international passenger growth and will also see how the existing bilateral rights are being used by Emirates before taking a call on their request, said Union Civil Aviation Minister Ajit Singh in London.
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Dighi Port to invest upto Rs 18 bn to develop infrastructure
Dighi Port, the first and the largest greenfield port of Maharashtra, is located at a distance of 42 nautical miles (NM) from Mumbai Port and 170 km south of Mumbai by road.