NHAI awards Rs 2,640-crore road projects in Gujarat
To connect important religious and tourist places between Bhavnagar and Somnath in Gujarat , four road projects worth Rs 2,640 crore have been awarded, National Highways Authority of India ( NHAI ) said today. “Two hundred and fifty six km long Bhavnagar to Somnath section of NH-8E (New NH-51) is an important link to connect religious and tourist places of Talaja, Mahuva, Palitana, Island of Diu, Somnath Temple, Gir National Park, Porbandar and Dwarka…. NHAI has awarded contract for 4-laning of four packages of the section of a total length of 175 km,” NHAI said in a statement. Among the companies that bagged the contracts are Sadbhav Infrastructure, MEP Infrastructure Developers and Sanjose India Infrastructure & Construction (in JV), and Agroh Infrastructure & Developers. “The total cost of these four packages is Rs 2,640 crore (civil construction cost) and project road would be a cement concrete highway,” NHAI said. The project will also provide improved connectivity to ports of Alang (the biggest ship breaking facility and recycling yard of India), Pipavav, Jafarabad, Gogha and Veraval (fishery collection and trading centre), it said. Tim Brown Womens Jersey
1,780 km rail lines commissioned, 6,000 km highways built in 2015-16
The government has commissioned 1,780 km of rail lines and also completed over 6,000 km of highways in 2015-16 period, the Prime Minister’s Office said in a statement on Monday. Prime Minister Narendra Modi was reviewing the progress in the key infrastructure sectors of railways and roadways on Monday. The PMO said that 1,730 km of rail links have also been electrified in 2015-16. In the course of the review of the railway sector, it was noted that it had received a capital investment of over Rs 93,000 crore in the last fiscal. “This represents a massive increase of 65 percent over the previous year, and is the highest-ever investment in railways in one year. The figures also represent the best performance on these metrics in railway history,” the statement said. It added that the prime minister has stressed the need to speed up the redevelopment of railway stations and has urged the ministry to upgrade and diversify the uses of its infrastructure. In the meeting, Prime Minister Modi was informed that over 6,000 km of highways have been completed in 2015-16, while contracts for 10,098 km were awarded in the same period. Modi has also stressed the need to decongest the critical highways by adopting latest technologies for toll collection. He has asked the officials from the union Ministry of Road Transport and Highways to study various models of road development across the country and adopt the best practices so that more private investment can be brought into the highway construction sector. Jack Tatum Authentic Jersey
Gujarat to get Rs 2 lakh crore for infra development: Nitin Gadkari
Centre will allocate Rs 2 lakh crore to Gujarat for the development of roads and ports during the next three years, Union minister Nitin Gadkari said today. He made the announcement at the foundation stone laying ceremony for the construction of the 256-Km long four-lane national highway connecting pilgrimage town of Somnath with Bhavnagar, at Somnath town in Gir-Somnath district. Notably, Gujarat, the home state of Prime Minister Narendra Modi, is going to polls next year. The project has been undertaken by the National Highway Authority of India ( NHAI ) and expected to complete in two years at the cost of Rs 4,876 crore. Allocation of Rs 2,00,000 crore will be made for the development of roads and ports for the next three years in Gujarat, an official release quoted the Minister for Road Transport, Highways and Shipping as saying. Ben Ijalana Womens Jersey
GAIL spuds 2nd exploratory well in Cambay Basin
GAIL (India) Ltd has started drilling its second exploratory well as an operator in its New Exploration Licensing Policy – IX block at the Cambay Basin. “The well is situated in the Nabhoi village in Tarapur Tehsil of Anand District in Gujarat. The ‘spudding’ operations started on May 27. The first well was spud in this block on March 27. Drilling of a target depth of 2,200 meters of this well is scheduled to be completed in 30 to 35 days,” an official statement said. GAIL is the lead operator of the block with 25 per cent participating interest. Other partners in this block are Bharat Petro Resources Ltd, Engineers India Ltd, Monnet Ispat Energy Ltd and Bharat Forge Infrastructure Ltd. The consortium will drill eight exploratory wells in the initial exploration phase as per minimum work commitment of production sharing contract, the statement added. Zach Cunningham Jersey
ICRA forecasts 16.6% growth in non-aeronautical revenues of airports by 2025
Ratings agency ICRA BSE -1.30 % has forecast that non-aeronautical revenues at Indian airports will grow by 16.6 per cent to touch Rs 16,150 crore over the next 10 years, driven by increase in scope of activities there and growing commercial orientation of the operators. Revenues from such activities primarily consist of fees for the rights to operate businesses at the airport, and rental of leased land and premises. Some of the common non-aeronautical activities include food and beverage business , duty-free shops, leasing of terminal space, and running car rentals/parking and hotels/motels. Over the last 10 years, non-aeronautical revenues at domestic airports have increased at a CAGR of 22.9 per cent — from Rs 450 crore in fiscal 2005 to Rs 3,500 crore in 2014-15, according to ICRA. Over the next 10 years, ICRA estimates that the per passenger non-aeronautical revenue for Indian airports would grow from the current levels of Rs 182 to Rs 410, at a CAGR of 8.4 per cent, the ratings firm said in its forecast, released today. “The total non-aeronautical revenues at Indian airports are expected to reach Rs 16,150 crore in FY2025 at a CAGR (compound annual growth rate) of 16.6 per cent,” it said. Significantly, ICRA’s projections comes at a time when Indian carriers have reportedly sought a ban on the sale of liquor in the security hold area (SHA) at domestic terminals of airports on the ground that drunk passengers on board can be a “safety threat.” At presenet, sale of liquor is allowed both at shops and pubs inside the SHA at airports after passengers have checked-in and undergone the security check. Noting that over the years, airports have evolved from being purely an infrastructure provider to a sophisticated market entity with diversified revenue streams, ICRA said, “this has led to the emergence of non-aeronautical revenues which have become a key contributor to an airport’s revenues.” “As many international airports have evolved over the years in terms of generation of non-aeronautical revenues, the same can be expected from the Indian airports. “The increase in scope of activities at the airports and growing commercial orientation of the airport operators are expected to drive the growth in non-aeronautical revenues at Indian airports,” ICRA AVP for corporate ratings, Harsh Jagnani said. Non-aeronautical revenues constitute 25 per cent of the total revenues for Indian airports, whereas their contribution stands at 37 per cent for the ICRA Sample of international airports. On a per PAX basis, the non-aeronautical revenue in India stands at Eur 2.52 (for FY2015), which is significantly lower than Eur 5.80 for the ICRA Sample of international airports, Jagnani said. For this purpose, ICRA has analysed 25 international airports/airport groups together encompassing 132 airports and including 21 of the 50 busiest airports in the world , with a total passenger base of 1,700 million and non-aeronautical revenues in excess of Eur 11 billion. Andrew Adams Authentic Jersey
ONGC Videsh, Azerbaijan’s SOCAR to jointly trade oil: Source
India’s ONGC Videsh (OVL) is set to make a foray into oil trading and has signed an initial pact with the trading arm of Azerbaijan’s state energy company SOCAR, a source privy to the agreement said. OVL, the overseas acquisition arm of India’s biggest explorer Oil and Natural Gas Corp, plans to initially sell its share of oil from the large Azeri, Chirag and Guneshli (ACG) group of fields in Azerbaijan through the new venture, the source said. “At a later stage, OVL will look at opportunities to market its oil from other assets through the planned trading company with SOCAR,” the source added. OVL, which has stakes in oil and gas assets in 16 countries including Russia, Sudan and Brazil, produced about 178,400 barrels per day of oil and gas equivalent in the fiscal year to March 31, 2016. Currently, Mangalore Refinery and Petrochemicals Ltd, a subsidiary of ONGC, trade oil produced by assets of OVL. Stephen Curry Authentic Jersey