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
Tag: Logistics
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Ministry aims to award 30 port projects
During 2013-14, union shipping ministry plans to award 30 port projects worth around Rs 25,000 crore investment. Union Shipping Minister GK Vasan informed media persons that these projects would bring in an additional capacity of 288 million tonne per annum at an estimated investment of Rs 24,633 crore
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Railways carry 171 mn t traffic in 2 months
During April-May 2013, Indian Railways carried 171.91 million tonne of revenue earning freight traffic . The freight carried shows an increase of 7.53 million tonne over the freight traffic of 164.38 million tonne actually carried during the corresponding period last year, registering an increase of 4.58 per cent. During the month of May 2013, the revenue earning freight traffic carried by Indian Railways was 88.19 million tonn
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Plan panel to decide on Rs 42.6 bn rail project
The Planning Commission would decide on whether whether to clear the Rs 4266.88 crore railway line project between Karnataka and Kerala. Of the estimated cost Rs 4266.88 crore, the cost of laying 72-km railway line between Nanjangud and Sulthan Bathery is estimated at Rs 764 crore. The Nilgiris-Wayanad National Highway and Railway Action Committee (NWNHRAC) has updated the earlier survey on the 236-km rail line project and has sent the repo
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Gujarat govt sets up SPV to implement Rs 50 bn project
The Gujarat government set up a special purpose vehicle with an initial authorized capital of Rs 200 crore to implement a dedicated regional rail system project. State-run RITES is learnt to have submitted to the Gujarat government, the final feasibility report for the project, which is expected to cost Rs 5,000 crore at the current price. Initially, the estimated cost of the project was Rs 2,500 crore in
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JNPT, ministry discuss Rs 8 bn project
Union Shipping Ministry and the Jawaharlal Nehru Port Trust (JNPT) are discussing the hurdles in implementing the Rs 800 crore container terminal project at the port. Last year, Dubai Ports World (DP World) was awarded the contract for setting up the terminal which will have a capacity to load 800,000 containers a year. DP World agreed to share 28.09 percent of its annual reve
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Port acquires land for cargo storage
Port Taranaki, which is a port complex located in New Plymouth, New Zealand, has acquired a 21.5 hectare power station site from Contact Energy for $24 million. Methanex New Zealand has also participated in the acquisition of the land, which could be used to store more bulk dry and liquid cargo and logs. Of the $24 million deal, the Taranaki Regional Council-owned port paid $15.5 mn for the majority stake, while Methanex New
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Essar firms to reduce dependence on group companies
Essar group companies like Essar Shipping, Essar Ports, Essar Projects would diversify their operations and reduce their dependence on sister companies for business. These companies largely cater to the sister companies and thereby rely on these firms for revenue generation.
For example, currently, Essar Projects earns around 60 percent of its revenue from group firms, but wants to eventually take external orders to 90 percent, deriving half its re
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Chabahar port may be beneficial for India
Indian government feels that the use of Chabahar port in southwestern Iran may be beneficial for the country as it would provide easier access to Afghanistan. India, Iran and Afghanistan have an agreement on preferential treatment and low tariffs for goods moved through Chabahar port, which also has a free trade and industrial zone in its vicinity
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Siemens to set up conveyor systems
Siemens will set up conveyor systems to carry iron ore from the stockyard belonging to Rio Tinto in Australia to the loaders at a port in the northwest region of the country. Siemens roped in an engineering firm Sinclair Knight Merz to provide conveyor systems for the project. Siemens would commission three conveyors in August and another five in 2014 while delivery is underway for t