Noida seeks layout plan of FNG from NHAI
Noida Authority on Tuesday said that it has asked the National Highways Authority of India (NHAI) to provide it with a detailed layout plan of the under-construction Faridabad-Noida-Ghaziabad (FNG) expressway. The NHAI has been given the mandate to develop the stretch as a National Highway. The highway aims at connecting Ghaziabad, Faridabad with Noida and Greater Noida besides decongesting existing road networks. According to Noida Authority officials, they need the details of the layout map and the alignment of the highway to integrate the changes into its Master Plan. “A meeting was held with the NHAI officials last week,” said P.K Agarwal, Chief Executive Officer (CEO), Noida Authority. “We have sought the details including the alignment and land required for the project so that we can make the relevant changes in our Master Plan and also ensure that NHAI do not face any hurdles during construction,” he explained. “We will also make sure that there is no delay in any land acquisition for the project,” he added. Agarwal further said that a consultant has been appointed by the NHAI to prepare a project report on the highway. The consultant will take about a year to complete its report and before work can be started at the site, he said. “A report will be provided to us in next 2-3 months on the 17 km stretch that falls into Noida. This report will be used to construct approach roads and underpass to connect areas falling along this route,” the CEO said. The FNG was planned way back in 1989 and work kick-started on it in 1993. Work in Noida started on the FNG in 2008. In November last year, the Uttar Pradesh government had given a no-objection certificate (NOC) to the Center for granting a National Highway tag to the expressway. The government of India had also been urged the latter to complete the project soon. Once complete, the much-awaited FNG expressway is touted to provide fast connectivity to daily commuters of the area. The objective of the highway is to decongest Delhi roads and mitigate pollution caused due to vehicular emissions. Of its total length, about 19.9km falls in Noida-Greater Noida region, 8km in Ghaziabad, while the rest 28.1km is in the Faridabad region. In Noida one end of the FNG e-way is located at Chijarsi on the NH-24, while the other end is at the entrance to Faridabad near sector 168. Once it is extended till Sohna—as has been proposed—its length will be 75km. Though Noida has completed about 70% of the project some stretches are yet to be completed for use of commuters. Since NHAI has adopted the highway, completion will now be the responsibility of the highway authority. Dominic Moore Womens Jersey
CBDT allowed Rs 4,500 cr of irregular benefits to infra companies: CAG
Government auditor Comptroller and Auditor General on Tuesday said I-T department has provided “irregular” tax benefits to infrastructure companies without verification, which have cost the exchequer over Rs 4,500 crore. Central Board of Direct Taxes (CBDT) did not have any established mechanism to assess the impact of revenue foregone on account of deductions under Section 80 IA on the economy and industrial growth of the country, it said. The Income Tax department has “irregularly” allowed deductions to various companies engaged in infrastructure business which have tax effect of Rs 4,524 crore, CAG said This included Rs 1,766.74 crore tax benefit availed by Reliance Ports & Terminals Ltd for construction of captive jetties at Port Sikka in Bihar. The other major companies that availed of such benefits include JSW Energy (Rs 340 crore), Reliance Infrastructure (Rs 51.88 crore), Tata Power (Rs 36.99 crore) and Gujarat Fluro Chemicals (Rs 22.75 crore). “There is no existing system to ascertain from the sponsoring ministries as to whether the tax holidays have had the desired impact on the growth of the economy,” CAG said. It adding that in the absence of such a mechanism the auditor failed to ascertain whether the very purpose of tax holidays has been achieved. CAG mentioned in its performance audit of the Revenue Department that CBDT may evolve a mechanism for proper linkage between tax benefit allowed by the I-T department with the actual investment made by the assessee to assess the impact of tax holiday. In order to encourage investment in infrastructure, the government provides tax holiday to companies under Section 80 IA for deduction in respect of profits and gains of companies engaged in infrastructure development at 100 per cent for a certain period. The report, tabled in Parliament, is based on test audit conducted by CAG between 2012-13 and 2014-15. Justin Evans Authentic Jersey
Centre approves 2,600-km National Highways in Telangana
Chief Minister K Chandrasekhar Rao held discussions with Union minister for road transport and highways Nitin Gadkari in New Delhi on several issues including the pending National Highways, development of other roads, conversion into four-lane roads and waterways on Godavari. The Centre has given its assurance that the 2,600 km of National Highways would be developed once Telangana acquires land required. Minister Tummala Nageswara Rao addressed the media on Monday where he informed that the Centre had announced several National Highways after the formation of Telangana for which they have sought principle approval. He said that the Union Minister assured to issue orders soon. Land acquisition for expansion of 650 km of roads under National Highways Authority of India, a second bridge over Godavari at Bhadrachalam, expansion of Yadadri-Warangal four-lane road, Highway works at Amaravati, Kothagudem, Jagdalpur were also among the other issues taken up with Gadkari. Deion Sanders Jersey
India approves monetization of national highways under TOT model
The government on Tuesday approved a model under which toll highways operated by the National Highways Authority of India (NHAI) for over two years will be leased out to entities which will collect toll and operate the project for a specified duration, in a return for a fee. The money raised will be used to invest in developing more highways. In a tweet, the Union roads ministry said it has identified 75 national highway projects adding up to 4,500 km for the so-called toll-operate-transfer (TOT) model. The overall annual toll collected from these projects is about Rs2,700 crore. Projects under the TOT model will be awarded through international competitive bidding where foreign funds can also take part. Mint had reported on 10 October quoting NHAI chairman Raghav Chandra that the country is preparing to start the process of monetizing toll-based operational road assets under the TOT model, aimed to bring new investments to the highways sector. This will be India’s first exercise in auctioning NHAI’s operational projects after a cabinet clearance in August. Under the TOT model, the investor will collect toll and be responsible for operation and maintenance of the project. The TOT model will help attract long-term foreign investment, financial investors and investment bankers told Mint. I Squared Capital, a US-based investor in road projects, had told Mint in October that it was hopeful of NHAI finally launching its TOT programme, which could then serve as a model for other sectors as well. “As a global investor, we believe that NHAI’s TOT model, if executed properly, could be a win-win for everyone. Proceeds from TOT auctions will free up valuable taxpayer capital that can then be recycled for much-needed new infrastructure projects,” I Squared Capital had said. IDFC Alternatives, which has bought controlling stakes in operational road projects, is waiting to see the fine print, Aditya Aggarwal, partner (infrastructure), IDFC Alternatives told Mint in October. The model is likely to help NHAI raise upfront capital to fund road projects based on the engineering, procurement and construction (EPC) and hybrid annuity models. It will also be an opportunity for pension funds and infrastructure investors to invest in India’s road sector. Nyheim Hines Authentic Jersey
Demonetisation will lead to less taxation, lower inflation: Piyush Goyal
Demonetisation will increase India’s tax base and prepare the ground for less taxation, lower inflation and a fall in interest rates, Piyush Goyal, minister for power, coal, renewable energy and mines said, defending the Centre’s decision to scrap high-value notes. The government would like to charge lesser tax from the honest and extract much more from the dishonest, Goyal said in an interview with ET. He said the government will make sure rural areas get the cash they need, while people queuing up at ATMs should adopt electronic transfer of money. This will help India leapfrog in credit card adoption just like mobile phone usage raced ahead of landlines. Asked about prospects of relaxation in cash withdrawal limits, he said: “It’s an evolving situation. The lines have come down. Deposits are less than 50% than in the first day.” He said leaders opposing demonetisation are either feeling the pinch personally or want to support corruption and black money. Kevin King Authentic Jersey
Vietnam abandons plan for first nuclear power plants on lower demand, safety concerns
Vietnam’s National Assembly voted on Tuesday to abandon plans to build two multi-billion-dollar nuclear power plants with Russia and Japan, after officials cited lower demand forecasts, rising costs and safety concerns. The vote to scrap the country’s first atomic energy project deals a blow to the global nuclear business and to Japan’s drive to begin exporting reactors after the Fukushima disaster left its nuclear industry in a deep freeze. The Vietnamese government said in a statement that the decision, made in a closed session of parliament after discussion of a government proposal, was taken for economic reasons and not because of any technological considerations. Russia’s Rosatom and a consortium of Japanese firms led by private utility Japan Atomic Power were due to build the plants. The estimated investment needed for the projects had doubled since 2009 to nearly 400 trillion dong ($18 billion), state media Tien Phong quoted Le Hong Tinh, vice chairman of the National Assembly’s science, technology and environment commission, as saying earlier this month. The Vietnamese government is fiscally strapped as public debt lingers near the permitted limit, curbing its ability to maintain Vietnam as one of Asia’s fastest-growing economies through spending. Growth in power demand in Vietnam is also forecast to slacken. When the government approved plans for the two plants in 2009, growth in Vietnam’s annual power demand was projected at 17-20 percent. Duong Quang Thanh, chairman of state utility Vietnam Electricity group, was quoted by state-run Voice of Vietnam radio recently as saying that annual growth between 2016 and 2020 was now forecast at 11 percent, and 7-8 percent through 2030. Vietnam’s decision to scrap the project is a further setback for the nuclear industry as countries from Germany to Indonesia have decided to either pull out of nuclear energy or cancel development plans in the wake of the Fukushima nuclear disaster in Japan in 2011, the world’s worst since Chernobyl in 1986. Environmental campaign group Greenpeace, however, welcomed the decision to drop the nuclear plan, saying it would have been a waste of money when renewable energy alternatives are available. “The project could also pose an environmental threat, and Vietnam cannot afford to risk another disaster after a toxic industrial leak triggered mass fish deaths earlier this year,” Greenpeace Regional Campaign Coordinator Arif Fiyanto told Reuters. A toxic leak sullied over 200 km (125 miles) of coastline in April. The country’s worst environmental disaster, it killed more than 100 tonnes of fish and left thousands jobless. The Japanese and Russian nuclear plants were due to have been located in central Ninh Thuan province. They would have had a combined capacity of 4,000 megawatts. “We respect our customer’s position, and we are ready to provide the full support to Vietnam when the country continues the implementation of its national nuclear power programme,” Russia’s Rosatom said in an emailed comment. Rosatom, however, is not fully pulling out of Vietnam. The state-run company said it would continue taking part in developing nuclear technologies and infrastructure, which should support peaceful nuclear energy in Vietnam, it said without elaborating. Keyshawn Johnson Womens Jersey
Microsoft saves $10 million by reducing carbon dioxide emissions
More than $10 million has been saved every year and emissions reduced by the equivalent of 7.5 million tonnes of carbon dioxide through investments in energy efficiency, green power and carbon offset community projects, software giant Microsoft says in a new report. The company, which set a voluntary internal carbon fee four years ago, says its carbon-neutral initiatives have impacted more than 3.2 million people in emerging nations. It has purchased more than 10 billion kilowatt-hours of ‘green power’ for lighting up its offices since July 2012. These facts came to light in its white paper that was released at the just concluded COP-22 United Nations Climate Change Conference in Marrakech in Morocco. “We seek to serve as a model in our commitment to environmental sustainability by delivering on our carbon neutrality commitment and uncovering new ways technology can help us better understand our planet,” says the paper, quoting Microsoft CEO Satya Nadella. It says the company’s goal is to reach a point where all greenhouse gas emissions are safely absorbed by healthy forests, soils, and other natural or nature-based infrastructure. “Since we implemented the carbon fee (July 2012), we have reinvested a portion of the carbon fee investment fund into our company through a range of internal carbon reduction initiatives, such as lighting equipment upgrades and e-waste recycling,” says the paper. “Specifically, part of the cost of energy that we consume from carbon-based sources is ultimately redirected to invest in projects that reduce the environmental impact of our operationally controlled facilities.” The paper says that since the launch of the programme, the company has funded over 60 projects in 23 countries by investing more than $2 million. To establish the price on carbon, the company has a Carbon Neutral Council, a cross-corporate group that provides feedback on and buy-in to the programme. To retire its e-waste appropriately, the company has recycled over 400,000 assets and reused over 350,000 assets in the US alone. The programme also supports additional recycling and reuse in Europe, the Middle East and Africa, Asia Pacific and Latin America. To light up its offices, the company is switching over to renewable sources. In November 2013, the company signed a long-term agreement with RES Americas to purchase 100 percent of the energy from the Keechi Wind Project, a 110-megawatt facility in Texas. Similar pacts were also signed with other renewable companies. Joshua Dobbs Womens Jersey
Flatlining global carbon emissions highlight slowdown in power demand: GlobalData
Global carbon emissions caused by energy production remained steady in 2015 and posted the lowest growth in the past 25 years excluding 2009, when there was a decline in the aftermath of the economic crisis, said GlobalData in a statement on Monday. Its latest report states that this stall in global carbon emissions can be attributed to a slowdown in demand for power and a shift in fuel mix from coal to low carbon fuels such as natural gas. Ankit Mathur, GlobalData’s practice head covering power, said: “Global installed power capacity reached 6,241 Gigawatts in 2015 from just over 5,000 GW in 2010, increasing at a compound annual growth rate of 4.3%. At present, the global power industry is characterized by heavy dependence on thermal fuel sources for power generation, as several major power-generating countries have abundant coal reserves.” Although thermal power will remain a dominant feature in the global power market for the foreseeable future, the share of thermal power in the overall installed power capacity will witness a declining long-term trend. The share of thermal power is expected to fall from its current level of 62.6% to 53.6% by 2025. “Market uptake for clean coal technology is expected to increase in the coming decade as countries such as China and the US are adopting it to improve efficiency and reduce emissions in comparison to conventional coal-fired plants. The outlook for conventional power in the US looks positive with the change in regime as the new government is considered to be pro oil and gas. “Countries which have abundant coal reserves, such as the US, China, Japan, Russia, and India, are developing coal power plants, whereas those dependent on imported coal are curbing their imports to reduce emissions.” In terms of renewable power, installed capacity other than hydro increased from 321.6 GW in 2010 to 787.5 GW in 2015 at a CAGR of 19.6%, and it is expected that this will reach 2,150 GW by 2025. Indeed, renewables now present a credible challenge to fossil fuels in terms of global investments and remain the fastest growing market segment. The share of renewables in global installed power capacity increased from 4.6% in 2010 to 12.6% in 2015, and is expected to reach 23% by 2025. Henri Richard Authentic Jersey
Gujarat state distribution companies collect Rs 2,000 crore in power bills
With state-run electricity companies accepting demonetized currency notes from its customers for payment of electricity bills, four Gujarat government owned power distribution companies (disoms) have registered increase in their collections as on November 19, 2016. In order to ease the burden on customers, these state discoms have been permitted to accept old currency notes for both outstanding dues and advance payments for future consumption of power. Discoms will accept old currency notes till November 24, 2016. According to the data provided by Gujarat Urja Vikas Nigam Ltd (GUVNL), the cumulative power bill collections of its subsidiaries, as on November 19, stood at Rs. 2,002 crore as against Rs 1,849 crore in October 2016 and Rs 1,665 crore in November 2015. “There has been an increase in our revenues as we are accepting demonetized notes as well. Many customers made advance payments too,” said a senior GUVNL official. While Pachim Gujarat Vij Company Ltd (PGVCL) collected Rs 666 crore and Dakshin Gujarat Vij Company Ltd (DGVCL) Rs 671 crore, the power bill collections of Uttar Gujarat Vij Company Ltd (UGVCL) and Madhya Gujarat Vij Company Ltd (MGVCL) stood at Rs 331 crore and Rs 279 crore respectively. Gujarat Energy Transmission Corporation Ltd (GETCO) and others mopped up Rs 55 crore as on November 19. According to sources, many customers offered to make advance payments of higher amounts, but according to the Gujarat Electricity Regulatory Commission (GERC) norms, discoms were limited to receiving cash payments of up to Rs 20,000. Any amount above Rs 20,000 has to be paid through cheque. Jonathan Marchessault Authentic Jersey
GMR Airports Submits Bid for New International Airport in Greece
India – Bid submitted in consortium with GEK Terna Group of Greece – The bid is for Development, Operations and Management of the new airport for a concession period of 35 years GMR Infrastructure Limited, India’s leading Infrastructure Company, today announced that its subsidiary, GMR Airports Limited (GAL), has submitted the bid along with its partner GEK Terna Group of Greece for the Development, Operations and Management of New International Airport of Heraklion at Crete Island, Greece. The scope of the project involves Design, Construction, Financing, Operation & Maintenance of the airport for a concession period of 35 years. GEK Terna Group is a leading Greek Infrastructure company having presence in Construction, Energy, Mining, Waste management, Concessions, Real Estatedevelopment & facilities’ management. It is understood that this is the sole bid for this concession. Upon award, GAL will be the airport operator for this project. Under the Bid conditions, it is mandatory for theairport operator to hold a minimum of 10% equity stake in the consortium. Commenting on the development, a GAL Spokesperson, said: ‘The bid submission is in line with the GMR Group’s asset light growth strategy with value build up from this project coming to GMR more from leveraging the airport platform, leading to enhanced revenue based services, than just equity. Lee Roy Selmon Womens Jersey