Developer for Bhogapuram airport near Vizag likely by January ’17
The AP government is pinning hopes on finalising the developer for the Bhogapuram International Airport by January 2017. The land acquisition for the project is expected to be completed by the Vizianagaram district administration by December this year. According to senior officials, the technical bids from developers are expected to be opened during the last week of September and as of now, eight firms have expressed interest in participating in the tender process for construction of the Greenfield international airport at Bhogapuram, which is around 60 km north of Vizag. According to project details, the airport is to be developed on a design, build, finance, operate and transfer (DBFOT) basis with the first phase costing Rs 2718 crore and a terminal capacity to handle around 6.3 mppa (million passengers per annum). The second phase is expected to be developed at a cost of Rs 1798 crore with a terminal capacity of around 18 mppa. “We expect the land acquisition for the project to be completed at the maximum by the end of this year. We have already held the pre-bid meeting and we have received a very good response,” a senior AP government official said. He said, “Our target is to kick off the project by January 2017. There are about 8 firms including all leading players like GMR, GVK, Airports Authority of India, Tata Group and Essel Infrastructure among others showing interest in the project.” According to revenue department sources in Vizianagaram district, the project requires around 2800 acres for the overall development of the airport project. “Out of the 2800 acres, around 1600 acres is Patta land. Already, farmers owning about 900 acres have consented to provide the land for the project and the process of issuing compensation is being carried out. We have been able to do this within one year’s time,” a revenue department official said. He also said, “The remaining farmers have also agree to handover the lands for the project and we expect the land acquisition at the most by December this year.” Incidentally, in 2015-16, the existing Vizag Airport had handled around 18.04 lakh international and domestic passengers registering a growth of 64.1 per cent over 2014-15. During the same period, international air passenger traffic touched 1.21 lakh passengers with a growth of 102.7 per cent and domestic air passenger traffic touched 16.83 lakh passengers with a growth of 61.9 per cent. Tim Horton Womens Jersey
Bridging infrastructure deficit: Need to quickly perfect funding model, says Jaitley
The Finance Minister, Arun Jaitley, on Thursday stressed upon the need for India to quickly perfect the “funding model’’ for filling infrastructure deficit and thereby help keep the economic growth rate at current high levels going. “I think our model is in the process of evolving. This model has to be perfected to keep the growth rate going. If India is to grow faster than 7.5-8 per cent, infrastructure is the key,’’ Jaitley said at seminar on ‘Best Practices in PPPs and Long Term Infrastructure Financing’ in the capital. This day-long knowledge exchange seminar was jointly organised by the Finance Ministry and Confederation of Indian Industry (CII) in the run up to BRICS Summit in October. India has assumed the chairmanship of BRICS during 2016. In his address, Jaitley highlighted that there cannot be an one-size-fits all solution for bridging infrastructure deficit. “Each country has been experimenting its model. In different spheres, we are attempting different models. Some with higher success and some with lower success,’’ Jaitley noted. India has been experimenting several innovative modes of infrastructure financing, including Infrastructure Development Funds (IDFs), Infrastructure Investment Trusts (Invts), Real Estate Investment Funds (REITs) and National Infrastructure Investment Fund (NIIF). Jaitley said that although NIIF has become operational, it will start its major activity in a few days from now. He said that a large number of international organisations, including sovereign wealth funds, have made commitments towards NIIF and that the Centre was awaiting their contributions to specific funds under NIIF. Jaitley said that he was conscious of the fact that the ‘State’ had the responsibility in meeting the infrastructure needs of its citizens. He highlighted that public investments in infrastructure had been on the rise and described the highways sector performance over last two years as a clear “success story’’. NIIF challenges Speaking on the occasion, Economic Affairs Secretary Shaktikanta Das said that NIIF had actually posed several challenges to the Finance Ministry. In the initial interactions that were held with prospective investors, it appeared they would be interested in investing into the umbrella fund (mother fund), which will invest in various infrastructure projects, Das said. However, when further interactions happened, it came out that the long-term funds were interested in investing in dedicated sectoral funds than any all purpose/multipurpose funds, he said. “We had to therefore recast the NIIF. Now we have two sectoral funds — one for highways and the other for clean energy,” Das said. Meanwhile, Das also said that the Centre was taking special focus on public private partnership (PPP) projects in railways to contribute to India growth story. Charles Haley Authentic Jersey
Crude oil, natural gas output drops in August
Domestic crude oil output fell 3.93 per cent in August 2016, while natural gas output dropped by 5.72 per cent, according to data released by the Ministry of Petroleum and Natural Gas. Domestic crude oil production stood at 3.067 million tonnes in the month of August 2016 compared witho 3.193 million tonne in the same month last year. Natural gas production stood at 2.674 billion cubic meter ( 2.836 billion cubic metre). Further, refinery throughput during the month grew 3.46 per cent during the month to 20.290 mt against 19.611 mt in the same month last year. Nathan MacKinnon Womens Jersey
Nitin Gadkari promises Arunachal Pradesh to expedite 4-lane road project
Union minister Nitin Gadkari has assured Arunachal Pradesh to expedite the sanction process of Itanagar-Banderdewa four-lane Road project for which the state government had made a representation to his ministry earlier. His assurance came when Deputy Chief Minister Chowna Mein called on him in New Delhi to apprise him of problems and demands of the state, an official communique said here today. Mein had requested Gadkari for early sanction of special repair estimate of Itanagar-Banderdewa Road which has been submitted to the ministry, to which the Minister for Road Transport and Highways asked a senior officer to examine the case for early approval. Chief Minister Pema Khandu had earlier submitted a memorandum to MoS for Road Transport & Highway Mansukh Mandaviya, during his visit to the state recently, demanding declaration of four roads as National Highways. He had named Akajan-Likhabali-Bame Road (106 km) in West Siang, Margherita-Changlang (37 km) in Changlang, Daporijo to Dollungmukh via Dumporijo along the left bank of Subansiri river (125 km), and Tezu to Chapakhowa via Sunpura (20 km). Gadkari informed Mein the Centre was actively considering the proposal for declaring roads as National Highways and it would be examined and considered. Mein also apprised the Minister of the incessant monsoon rains that play havoc resulting in huge damage both on the completed stretch and on-going NH projects every year. “As such, regular maintenance and protection work is required so that damages due to landslides and other damages can be arrested to ensuring all-weather connectivity,” Mein pointed out. The Deputy Chief Minister also requested the Union minister to allocate a maintenance fund of Rs 10 crore for the maintenance and repairs works of National Highway 13-Potin to Ziro road as a special case. Josh Malone Authentic Jersey
Mumbai to Goa in just 6 hours soon: Nitin Gadkari
Travelling to Goa from Mumbai by road may soon take only six hours due to the construction of a new four-lane concrete highway, Union Minister for Roads Transport and Highways Nitin Gadkari said on Thursday. “It will soon take only six-hours to travel between Goa and Mumbai with the four-lane concrete highway we are building,” Gadkari said, adding that the rate of road building by his ministry was 22 kms per day. He was speaking at a function on the occasion of signing a concession agreement between the Mormugao Port Trust and Goa Seaport Pvt Ltd for redevelopment of two berths and other barge berths at the central government facility. The minister also proposed to shift a port project in Goa’s Betul village, which has faced local opposition, to either of the neighbouring states of Maharashtra or Karnataka, on account of a series of protests against it. He also said an eight km highway will be constructed, connecting the upcoming Mopa airport in North Goa, located 40 kms from Panaji, to the National Highway 17 at the cost of Rs 300 crore. Eric Ebron Authentic Jersey
Monsoon to keep India’s diesel exports near 3-year high
India’s diesel exports are expected to hover near a three-year high in September, as monsoon rains reduce the need to use the fuel in irrigation pumps, according to traders and refinery sources. Reflecting this trend, state-owned Indian Oil Corp exported diesel for the first time in more than five years and the ramp-up of a new refinery could also temporarily keep exports high after the monsoon draws to a close this month. The increase in shipments from the world’s no. 3 oil consumer has driven the profit margin for refining diesel in Asia to a seasonal six-year low. India is expected to ship out similar volumes in September compared with August, when it exported 2.85 million tonnes, according to traders. Last month’s volume was the highest since September, 2013, when India shipped out 3.371 million tonnes, government data showed. “Diesel demand has not been that good during this monsoon season and has generally been flattish,” a source at an Indian-refiner said. Indian Oil Corp exported its first low-sulphur diesel cargo in more than five years in August and followed up by offering a second cargo this week. While the first cargo was sold at a deep discount due to a low flash point making it more difficult to blend, any additional spot cargo will weaken an already oversupplied diesel market in Asia, traders said. IOC’s diesel demand during the monsoon was lower than the company’s initial estimates, while its inventory was high, leading to the unexpected exports, but this is likely to be temporary, a second source close to the matter said. Refineries in India are also running at near maximum capacity due to healthy refining margins driven by low feedstock prices, a third refining source said. IOC’s 300,000 barrels per day (bpd) new Paradip refinery, which was commissioned in late 2015, will run at full capacity by the last quarter of the current financial year, a company executive said this week. The refinery is expected to boost IOC’s diesel output by 200,000 tonnes next month, which will reduce its offtake of the fuel from private refiners by a similar amount, one of the sources said. This in turn could drive up exports from private refiners like Essar Oil and Reliance Industries, traders said. “Diesel demand was so good over the first half of this year, but fell during the monsoon season,” the third refining source said. “Demand should pick up after the monsoon but as of now that is still to be seen.” India’s monsoon season typically runs from June to September. Trevor Bauer Womens Jersey
Govt to fund 40% of Jagdishpur-Haldia and Bokaro-Dhamra gas pipeline project
Almost 40% of the Rs 12,940 crore, proposed Jagdishpur-Haldia and Bokaro-Dhamra (JHBDPL) gas pipeline project will be funded by the government. The Cabinet Committee on Economic Affairs has approved viability gap funding and partial capital grant for the project amounting to Rs 5,176 crore, on Wednesday. This 2539 km long JHBDPL gas pipeline project will ensure availability of clean and eco-friendly fuel like natural gas to industrial, commercial, domestic and transport sectors in West Bengal. Other states benefitting from the project will be Uttar Pradesh, Bihar, Odisha and Jharkhand. The JHBDPL project will connect eastern part of the country with the national gas grid. The capital grant will encourage supply of eco-friendly fuel at affordable tariffs to industries and will encourage industrial development in these states. The cabinet has also recently approved revival of three fertilizer units (FCIL- Gorakhpur, HFCL- Barauni and FCIL-Sindri) along the route of this pipeline project. On revival, these units will be the anchor gas customers for JHBDPL project and gas to these plants will be supplied under the gas pooling scheme for urea sector at pooled price. Terry Bradshaw Authentic Jersey
CCEA approves city gas distribution in Kolkata
The Cabinet Committee on Economic Affairs (CCEA), has approved development of city gas distribution (CGD) networks in Kolkata as well as cities lying en-route Jagdishpur-Haldia and Bokaro-Dhamra gas pipeline. Varanasi, Patna, Bhubaneswar, Ranchi, Jamshedpur and Cuttack will also get city gas distribution. City Gas Distribution (CGD) networks in cities are to be developed by GAIL in collaboration with the concerned state governments. It will bring clean cooking fuel at the door steps of domestic households as well as provide clean fuel to transport sector in the eastern region. About 1.25 crore people living in these cities will be directly benefitted by the establishment of these networks. All these projects will generate direct as well as indirect employment for about 21,000 people and will boost socio-economic development in the eastern part of the country. William Gholston Authentic Jersey
Large population still without power in India: Report
Even though government data shows low power deficit and a surplus situation in the country, a large population is still without electricity and power cuts are part of daily life, says a report. According to clean energy consultant Mercom Capital Group’s latest report, the power deficit numbers in India do not paint the full picture. “….large populations in India are still without electricity and power cuts are still part of daily life in urban areas and more so in rural areas,” the report ‘India Solar Quarterly Market Update’ said. “The reduction in the power deficit we are seeing is largely due to a combination of a drop in power demand in the commercial and industrial sector, and the financial health of discoms,” it added. Falling demand has led to record low prices on the power exchanges, it said. According to Central Electricity Authority (CEA), plant load factors have fallen by 20-30 per cent due to the drop in power usage from commercial and industrial customers, a major source of revenue for discoms. These customers also usually end up subsidizing residential and rural customers for whom discoms refuse to increase tariffs in line with costs, leading to massive losses year after year. Discoms, which continue to have financial struggles, are purchasing cheaper power from the exchanges, which is resulting in curtailment issues for solar power. Some discoms are simply resorting to power cuts as they cannot afford to even purchase power at low rates on the exchanges. Some states have surplus power but still do not supply power round the clock for fear of losses due to low tariffs from residential and agricultural customers. Ramon Foster Womens Jersey
LG scraps AAP govt’s appointment of DERC head
The Lieutenant Governor of Delhi, Najeeb Jung, has set aside the appointment of Krishna Saini as Chairperson of Delhi Electricity Regulatory Commission and has asked the elected government to initiate the process of selection of a new chairperson. Jung’s office said Saini was appointed as the chairman of the power regulatory body of Delhi in March with the approval of the LG as mandated under the procedure. “As the constitution of the Selection Committee as well as the appointment of the Chairperson, Delhi Electricity Regulatory Commission (DERC) was done without putting up the matter to the Lt. Governor at any stage, for his views and concurrence, the entire process of appointment of DERC Chairperson has been vitiated right from the beginning and suffers from serious legal infirmities, ” LG’s office said in a statement. It further said DERC is a statutory body, discharging important functions and illegalities in the appointment of Chairperson are bound to have legal and other repercussions. “In the given circumstances, the appointment of Chairperson, Delhi Electricity Regulatory Commission (DERC) has been declared as void, ab initio,” LG’s office said in a statement. The Delhi High Court is also hearing two public interest litigations regarding the appointment of Saini. The next hearing of the PILs is in Friday. Will Hernandez Womens Jersey