An Environment Ministry panel has reportedly cleared a proposal to develop and modernise facilities at the Pipavav Port in Gujarat. The port works would cost an estimated Rs 1,100 crore. The expert appraisal committee examined the proposal at its meeting held previous month and recommended clearance. The project is likely to significantly boost cargo handling capacity at India´s 1st private sector port.
Tag: India
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DCIs Dubai proposal evokes less interest
Dredging Corporation of India´s (DCI) proposal to deploy its fleet in Dubai has not evoked much interest within the Union Shipping Ministry. The DCI has been advised to concentrate on dredging within India before venturing into foreign countries.
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Australian nod to GVK for port work
For its Abbot Point port capital dredging programme, GVK Power and Infrastructure has received the Australian government´s approval. The Australia government has finalised the ministerial environmental approvals for its Galilee basin coal assets and associated infrastructure.
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India targets 2,493.10 MTPA port capacity
The capacity of Indian Ports was 1,245.30 million tonne per annum (MTPA) at the end of 11th Five Year Plan. The target is to increase the port capacity to 2,493.10 MTPA by the end of the 12th Plan with the major ports accounting for about 50 per cent of this capacity. In 2013-14, 30 projects have been targeted for award involving an additional capacity of 282 MTPA with an investment of Rs 24,959 crore. As on 30 November 2013, 13 of these projects have already been awarded entailing an investment
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Vizag Port to expand at Rs.641crs
The Visakhapatnam Port is to take up expansion and development works worth Rs 641 crore. The port is to take up as many as eight berths for capacity augmentation and modernisation through public-private partnership (PPP) operators. Visakhapatnam Port has awarded the project to dredge the outer harbour approach channel, outer turning circle; ore berth area, general cargo berth approaches, and construction of mooring dolphin at ore berth at an estimated cost of Rs 139.88 crore to International Sea
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Thermal coal imports via major ports up
The major ports in the country handled around 5.5 million tonne (mt) of imported thermal coal, which is up by 10 per cent on the year, while coking coal imports rose 21 per cent to 3.4 mt, says latest data by Indian ports Association (IPA). The 12 ports handled 47.8 mt of imported thermal coal during April-November, up 35.7 per cent from 35.2 mt from the same period a year ago.
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SEFC to raise Rs.200 cr
From private equity (PE) investors, Shriram Equipment Finance Company (SEFC) is mulling to raise about Rs 150-200 crore and rope in strategic investors.
SEFC is a subsidiary of Shriram Transport Finance Corporation, which has an asset base of about Rs 56,000 crore. The company expects to grow at a compounded annual rate of 15 per cent and require Rs 150-200 crore, the company said.
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Power System Development Fund approved
The government approved the proposal of the Ministry of Power for operationalisation of the Power System Development Fund (PSDF). This will be utilised for creating necessary transmission systems of strategic importance based on operational feedback by Load Dispatch Centers for relieving congestion in Inter-State Transmission Systems, according to Finance Minister P Chidambaram.
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CIL to earn Rs.2,119 cr more via price revision
On account of revision in dry fuel prices, Coal India (CIL) is likely to get an extra revenue of Rs 2,119 crore in this fiscal. CIL has revised and rationalised the basic notified prices of all the grades of non-coking coal except GI, G2 and G5. The estimated additional revenue due to revision of basic notified price for the current financial year is Rs 2,119 crore.
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Coal and Oil gets Rs.1,600 cr bank fund
To complete its 1,200 MW independent power plant (IPP), presently under construction in Tuticorin, Dubai-based Coal and Oil (C and O) Group has secured additional funding of approximately Rs 1,600 crore from Indian public sector banks including the State Bank of India. The power project, which is being developed at a cost of around Rs 6,800 crore is developed by Coastal Energen, the power generating flagship company of the Coal & Oil Group.