For some undisclosed reason, the LuLu group decided to exit the land deal it entered into with the Cochin Port Trust some years ago. According to the deal, the group took 26 acre land on Bolghatty island from the port trust on a 30-year lease.
The port trust leased the land to the group to build a convention centre and associated facilities. However, the group reportedly planned to build 572 serviced apart
Tag: project
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Lulu group decides to exit land deal with port
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Competition may deepen in port sector
Industry experts feel that the extent of competition in the port sector in India may deepen and broaden further on completion of the ongoing port projects. Major ports in India are facing very keen competition from the neighbouring non-major ports, both in respect of quality of services and in price, they argue
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KCZMA divided on the Bolgatty project
Members of the Kerala Coastal Zone Management Authority (KCZMA) are divided on the issue of whether to allow Emke Group, led by MA Yusuff Ali, to set up the Bolgatty convention centre. The opposing members argue that the clearance should not have been given for a non-port activity in a reclaimed area within a sensitive ecosystem
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Ministry wants to expedite Rs 90 bn terminal project
Union shipping ministry wants to expedite the award of the Rs 9,000 crore fourth container terminal project at Jawaharlal Nehru Port Trust (JNPT) in Mumbai. The project has been delayed by more than three years after a consortium of Port of Singapore and ABG Ports exited the contract. The consortium had outbid others then by offering to share more than 50 percent of th
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RMGL expects to commission metro rail project in June
Rapid Metrorail Gurgaon (RMGL) is about to complete work on the metro rail project in Gurgaon and it expects to commission the project in June. The project concessionaire completed work on five out of six metro stations (except Gateway Tower) and has also finished work on signaling, electrification and laying of tracks. Four of the five trains to be pressed into service have arrived at the site from
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Govt to prepare scheme for piped gas supply
Madhya Pradesh government would prepare a scheme in association with GAIL to start the supply of piped domestic gas to the residents of Bhopal-Mandideep. Recently, the state urban administration and development Minister Babulal Gaur discussed this project with the officials of GAIL. Bhopal city Mayor Krish
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SAIL may complete most of expansion project by end FY14
According to a news agency report, Steel Authority of India (SAIL) may complete major portion of its ongoing expansion project by March 2014. While presently the company has a production capacity of 13.82 mn tpa of hot metal, it aims to expand it to 19.5 mn tpa by the end of 2013-14. Since 2006-07, the company has been implementing its Rs 61,870 crore mega capacity expa
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SAIL invests Rs 424 cr in April 2013
State-run Steel Authority of India (SAIL) invested Rs 424 crore on its capacity expansion project during April 2013, the company's internal note shows. It may be noted that the country's largest steel maker has been expanding capacity at all its major steel plants in Rourkela, Bokaro, Durgapur, Bhilai and IISCO. In the last seven years, the firm invested Rs 44,536 crore, out of the proposed 61,870 crore to raise the annu
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GMB to attract bidders for dredging project
Following poor response from bidders in the initial global tender, the Gujarat Maritime Board (GMB) plans to conduct a road show for the Rs 115 crore dredging project in the Gulf of Khambhat. The board wants to dredge the area in order to facilitate the proposed ro-ro ferry service linking Ghogha in Bhavnagar to Dahej. An official statement from the GMB shows that the channel's length will be about 4,30
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CCI asks agencies to stick to timeline
At a recent meeting, the Cabinet Committee on Investments (CCI) urged security agencies to stick to the 12-week timeline, prescribed by the Cabinet Committee on Security. It may be recalled that earlier, the Cabinet Committee on Security decided to adhere to a 12-week timeline for
providing inputs on port development projects that are delayed owing to pending clearances. Following this, the shipp