Reliance Industries (RIL) agreed to share its infrastructural facility on the East Coast of the country with Oil and Natural Gas Corporation (ONGC). Both the companies recently entered into a memorandum of understanding (MoU) in this regard. According to the MoU, both the firms would work out the mod
Tag: infrastructure
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DCI plans to spend Rs 19 bn in 5 yrs
In the 12th five year plan (2012-17), Dredging Corporation of India (DCI) has planned a capital expenditure of about Rs 1,972 crore. This includes placing order for two more 9,000 cubic metre capacity dredgers. In the next four to five years, the state-run firm expects to procure these dredgers which may facilitate the company to handle up to 80 per cent of the annual maintenance dredging works of Indian ports. The balance wou
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Cargo volume rises in Halifax port
Data released by the Halifax Port Authority (HPA) in Canada shows general cargo volume rose 0.5 per cent during the quarter ending June 30, 2013. It shows volume of bulk cargo, such as oil and grains, declined 11.5 per cent when compared to the same period last year. Total cargo tonnage in the second quarter rose 0.6 per c
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Foundation stone for Rs 33 bn worth projects laid in UP
Uttar Pradesh Chief Minister Akhilesh Yadav laid foundation stone for infrastructural projects worth over Rs 3,300 crore. These include Rs 2,200 crore roads and bridges projects, besides power transmission and distribution projects worth over Rs 1,100 crore. Speaking to reporters after laying foundation, Yadav promised that his government would go full throttle in
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Steering group finalises deadline for infra projects
A meeting of the Steering Group appointed by the Prime Minister to accelerate Infrastructure Investment in its first meeting has finalized deadlines with time lines for the intermediate steps for key infrastructure projects. The progress on the intermediate steps will be monitored on a regular basis. The deadlines will ensure that Ministries or Departments are clear about not just the over
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Steel production rises marginally by 0.9% in June
In June 2013, steel output in India rose a mere 0.9 percent to 6.45 million tonne (mn t) from 6.39 mn t in the year-ago month. It is learnt that during the month, India's rate of growth in steel production declined below the world average. Data from World Steel Association (WSA) shows global steel output touched 132 million tonne in June 2013, a 1.9
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VPT faces delay in implementing key projects
Visakhapatnam Port Trust (VPT) may find it difficult to achieve its planned capacity increase to 150 million tonne by 2020 as several port projects are facing delay. The company planned to achieve this capacity expansion through an estimated investment of Rs 14,000 crore. The port authority is facing implementation delay for thre
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PSUs invest Rs 1.2 trillion in FY13
Speaking at the annual general meeting of the industry chamber Associated Chambers of Commerce and Industry (Assocham), Prime Minister Manmohan Singh said major state-run firms invested about Rs 120,000 crore in 2012-13. He said this to dismiss the popular notion that public sector undertakings (PSUs) werenÂ’t investing despite sittin
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EPL to raise Rs 5 bn via bonds
Ennore Port (EPL) plans to raise only Rs 500 crore through tax-free bonds instead of the earlier plan of mopping up Rs 1,000 crore. This information was given by MA Bhaskarachar, Chairman and Managing Director of the country's first corporate port set up by the Government of India. The port originally planned to raise Rs 1,000 crore through tax-
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Chidambaranar Port loads record tonnage of salt
VO Chidambaranar Port Trust in Tuticorin, Tamil Nadu loaded the highest tonnage of 13,200 mn t salt in bulk in the vessel MV Great Gain. S Natarajan, Chairman of the major port said in a press release that this was the record handling of salt in bulk by the port in a single