Shipping companies worldwide are suffering from overcapacity or excess fleets and this depressed freight rates in the sector, reports indicate. At the end of 2012, worldwide fleet of bulk carriers rose to 679 from 393 in 2007. Further, this is expected to see growth of 10 per cent and 5 per cent in the next two years, respectively, before it tapers to 2 per cent in 2015, reports indicate
Tag: infrastructure
Post
Post
PM clears Rs 450 bn plan of steel ministry
At a recent meeting of the high-level committee on manufacturing, Prime Minister Manmohan Singh cleared
a Rs 45,000 crore investment plan of the steel ministry. Singh approved the investment proposal for ultra mega steel plants (UMSP) considering that the expanding infrastructure sector would raise demand for steel in the country. However, Planning Commission and the ministries of coal and mines objected to the approval given by the Prim
Post
India may ask Iran to give right to develop port
Some media reports hint that the Indian government may ask Iranian government to assign it long-term rights of 60 to 90 years to develop and operate Chabahar Port. As an initial step to the phased development of the port, the existing facility can be modernised, and subsequently its capacity can be expanded
Post
PPP policy must aim to allot risks optimally
Experts feel that the objective of the public private partnership (PPP) policy of the government should be to share the project risks optimally, rather than transfer them wholesale to the private sector. Experts and policy makers are debating the fate of PPP projects in the country in the wake of some private contractors exiting key infrastructure contracts like metro rail, highway etc
Post
Experts favour renegotiation of PPP contracts
Some experts of the public-private partnership (PPP) model feel that the government must make provision for tweaking the contractual agreements in the course of a contract for mega infrastructure projects with a fairly long concession period. They argue that the initial projections or assumptions made by the concessionaire in case of a road or metro rail project may go wrong in the course of the concession period
Post
Inkel to rope in private firms for tower project
A Kerala government-led body Inekl is in the process of roping in investors, developers, companies and individuals for setting up a tower on 2.45 acre of land at Angamaly. The proposed tower is very close to Cochin International Airport and 35-km from the seaport at Vallarpdam. A dedicated 750-metre approach road is being laid to the site from NH 47. Angamaly Railway station is only 700-metre from
Post
JNPT relaxes norms to attract more bidders for Rs 82 bn project
In order to attract more bidders for its proposed Rs 8,200 crore fourth container terminal project, the Jawaharlal Nehru Port Trust (JNPT) relaxed selection norms for contractors. The port authority invited initial bids for constructing the terminal with a capacity to load 4.8 million standard containers a year. That will make it India
Post
CICT starts operation in deep water terminal
Colombo International Container Terminals (CICT) completed a greenfield deep water container terminal project within 28 months as against the original timeframe of 60 months. Work on the terminal began in December 2011. In the course of time, the terminal operator or CICT revised the plan and expedited the project to complete it within 28 months
Post
Surat corporation wants govt to clear TP schemes
Surat Municipal Corporation (SMC) requested the state government to clear all its town planning (TP) schemes in a time-bound manner to enable planned development of the city. There are 128 TP schemes for the city of Surat that are on different stages of implementations. Of these, only 28 received the final approval so far and 30 are on preliminary stage. Further, 60 are on sanctioned draft TP scheme stage, 7 on draft submitted to government stage and
Post
Punjab govt allots Rs 25 bn for various projects
In order to implement various projects in the sewerage, water supply, road, housing and other sectors in Ludhiana, Punjab government allocated Rs 2,499.74 crore. The amount includes Rs 1,352.20-crore to upgrade road infrastructure, including 8 laning of Ferozepur Road from Sidhwan Canal to MC limit, among others. The government allotted Rs 398.35 crore for upgrade of Ham