Rs 5 lakh crore worth of orders signed for roads, ports: Gadkari
The government’s road and highway building programme has enough cash to build the crucial infrastructure, Road Transport and Shipping Minister Nitin Gadkari has said. “We have signed contracts worth Rs 5 lakh crore for infrastructure, roads, ports. It is a remarkable contribution from our investors. We do not have any problem, we are receiving public, private investment… we are receiving good response for the Public-Private Partnership, Build-Operate-Transfer and hybrid annuity (models),” Gadkari told Assocham TV in an interview. As per the 2017-18 Budget, presented by Finance Minister Arun Jaitley earlier this month, the AAA-rated National Highways Authority of India (NHAI) has been permitted to raise Rs 70,000 crore through infrastructure bonds, he said. “For NHAI, triple-AAA rating is there. We already have permission from the Finance Minister for raising Rs 70,000 crore infrastructure bonds.” “My toll income is Rs 10,000 crore per year. So, I can monetise for 15 years and I get Rs 2 lakh crore. There are 101 projects which are ready with where I am going to monetise and I will get Rs 1.25 lakh crore… so, money is not the problem,” he added. Besides, there is easy availability of low-cost overseas loans, the minister said. “We are getting Rs 3,000 crore in dollar loans with 2.25 per cent interest, and we can raise Rs 50,000 crore without hedge with two per cent interest”. Gadkari was responding to a question by Assocham TV about how realistic the plans for the transport sector were when the private sector was facing severe financial stress. He also said his ministry was working on a number of waterway projects for improving inland connectivity within big metros like Mumbai, as well as for inter-city connectivity. Kareem Martin Jersey
Thermal power plants may get more time to meet emission norms
Power Minister Piyush Goyal today said the Environment Ministry is on board to consider extension of December 2017 deadline for coal-based thermal power plants to meet stricter emission norms. “I don’t want that we import equipment (to meet deadline for meeting emission norms). We realised after discussions that it would put more burden on the consumer and they will have to pay more for electricity,” Goyal told reporters at an NTPC conference here. He was responding to queries on Environment Ministry’s tougher norms for power plants relating to consumption of water, particulate matter, SO2, NOx and mercury. “We took up the issue with Environment Ministry. They agreed with us that deadline should be extended so that old polluting plants can be replaced with supercritical super efficient plants. This will reduce the pollution to just 10 per cent of the existing levels of these old plants,” he said. “The discussions are on to increase the deadline. I think it should be extended (beyond December 2017) because it should be done in a way so that the poor should not be affected,” the minister added. In December, 2015, the Environment Ministry had brought new norms for coal-based power stations to cut down emissions of particulate matter (PM10), sulphur dioxide (SO2) and oxides of nitrogen (NOx) and improve the ambient air quality around power plants. The ministry had for the first time fixed SOx and NOx norms for power stations and mandated that plants adhere to these guidelines by 2017. According to industry estimates, the cost for technical changes at these plants could be up to Rs 1.5 crore per megawatt. Besides, the domestic capacity to manufacture power equipment for the upgrade is not more than 15 GW a year, compared to demand of around 40 GW per annum for meeting SOx norms alone. The minister is of the view that instead of going for renovation and modernisation, the power plants should be replaced with latest energy efficiency and less polluting technology. He had also announced replacement of 11 GW of old power plants of NTPC at an investment of over Rs 50,000 crore in the next 3-4 years. Jihad Ward Authentic Jersey
Pay more to fly! Airfares set to soar on costlier jet fuel
India’s delicately balanced current account wouldn’t be the only major casualty of costlier crude oil: Local travelers now have to pay more to fly within the country as expensive jet fuel propels airlines to raise domestic fares that had tracked global energy prices to plunge to record lows last year. Higher consumer fares in January reflect the persistent rise in aviation-fuel prices, which increased 8% on-month in November at the New Delhi airport, the country’s busiest. After a brief lull in December, prices firmed in January and February, breaching the levels of 2015 when the cycle of declines began. The trend has led carriers to pass additional fuel costs on to consumers, many of whom switched to airlines after the gap between air and upper-class train fares narrowed in 2016. A senior executive at Jet Airways, India’s second-biggest airline by market share, said the airline has recently revived the practice of levying a fuel surcharge — a fare component linked to movements in jet fuel prices — on domestic flights. “We used to charge between Rs 100 and Rs 300 depending on short- and longhaul sectors. Now we charge as much as Rs 700,” he added. Jet-fuel is the biggest cost item for Indian carriers. Prices of petroleum products began rising since last spring after the 2015-16 winter witnessed record lows for crude oil, with global prices breaching $30 a barrel on their way down to levels not seen since the 1980s. However, after a period of consolidation that analysts believed would have put many shaleoil producers out of business, global crude oil prices began firming and have now stabilized around $55 a barrel, a level that some believe would be maintained over the medium term. Airlines had clubbed fuel surcharge with the base fare component in 2015 after an advisory from the Directorate General of Civil Aviation, the country’s aviation regulator. No-frills carrier SpiceJet has separated the two components over the last six months, although the fuel surcharge hasn’t been increased yet, said a spokesperson. Travel company executives said overall fares have increased in January. According to data on Makemytrip, the country’s biggest online travel portal, average fares dropped in November and December but rose in January. Ticket prices for the Delhi-Mumbai sector rose to Rs 4,266 in January, compared with Rs 3,908 the same month last year, Rs 4,914 on the Mumbai-Bangalore sector compared with Rs 4,573 a year earlier, and Rs 4,473 on the Mumbai-Chennai route, compared with Rs 3,784 last January.Rival Cleartrip noticed divergent trends that showed those booking early stood to benefit. Last year, spot-booking fares too had fallen drastically. “An analysis of the last three months of airfare data for the top 20 air travel sectors reveals that the increased cost to airlines, contributed by the fuel prices surge and the rupee’s depreciation, has resulted in a 15% increase in airfares for a booking window of 0-14 days,” said Samyukth Sridharan, president and chief operating officer of Cleartrip. “At the same time, we see that the airlines have been quite aggressive in offering deals to passengers who plan in advance, reflected in a 21% yearon-year drop in fares on an average for travel bookings made over 14 days in advance.” Last year, airlines had offered substantial discounts across sectors and made attractive offers for ticket-buyers who planned their travel in advance, resulting in lower yields. To be sure, the industry’s ability to charge more will depend on the direction in aviationfuel prices and seasonal changes in air-travel demand. “February and March are lean months, and the airlines may not have room to increase so much. But there will be increases subsequently if jet fuel prices continue their climb,” said a senior executive at a budget carrier. Wayne Gretzky Jersey
New airline Zoom to take off on February 15
The government’s regional connectivity push seems to have finally struck the right note, with Zoom Air, India’s newest airline, launching its inaugural flight on the Delhi-Durgapur route on Sunday morning. The move makes Zoom Air the tenth national carrier in the country. The airline, which will start daily scheduled operations on the Delhi-Kolkata-Durgapur sector from February 15, is marketing itself as a premium commuter airline with on-board snacks and beverage service. The airline has started operations with a Bombardier CRJ 200 aircraft and will get the second aircraft on February 26. “As of now, we do not plan to exceed the five aircraft number. We are also not planning to compete with established players by connecting tier 1cities.Even if we connect two tier 1 cities like Delhi and Mumbai, it will be via Surat,“ Koustav M Dhar, chief executive officer of Zoom Air, told ET. “We are going to be India’s first national carrier with a regional fleet,“ he said. He added that the second and third aircraft will be used to connect destinations such as Amritsar, Surat and Mumbai and Jabalpur, Kolkata, Shillong and Aizwal. Dhar also stated that they are in talks with airlines for code share flights. “A codeshare arrangement gives us surety of passengers. We are in talks with four international and two domestic airline operators to operate code share flights for them. I cannot name them now because I am not allowed to,“ Dhar said. Brad Richards Jersey
Navi Mumbai International Airport: No penalty for bidders
The City and Industrial Development Corporation (Cidco) is leaving no stone unturned to attract bidders for the proposed Navi Mumbai International Airport (NMIA) project. Now, the nodal agency for NMIA has assured bidders that no penalty will be imposed if the project gets delayed due to issues related to rehabilitation of project-affected persons (PAPs). After three extensions, the final date of submitting financial bids is February 13. Cidco had to extend the deadline thrice as it received only one bid. The deadline for submission of financial bids was first extended in November 2016 for two months. In 2017, the bidding got two more extensions on January 9 and January 25. Since both the central and state governments are showing interest in the project, the deadline for completion of the first phase remains December 2019. Bidders are apprehensive that they may have to pay a penalty if the project is not completed on time. Warren Moon Womens Jersey
Ranchi: CM assures support to improve air connectivity in state
All five Divisions in Jharkhand will soon get connected through air routes. Chief Minister Raghubar Das said that the State Government was ready to provide all support to the Government of India to get five divisions connected through air routes. Das, during his inaugural speech of the newly constructed Cargo Complex at Birsa Munda Airport here on Friday, was reacting to the request made by Union Minister of State for Civil Aviation Jayant Sinha. “I support the proposal made by the Union Minister of State and request him to start the work in all the five divisions as it is you who has to show the pace,” said the Chief Minister. The work of the construction and up-gradation of airports in all the five divisions will be started soon in the next 2-3 months. Sinha, seeking support of the State Government, had requested Das to connect all the five divisions in Jharkhand through air routes which will bring pace in the business. He also assured all support from the Ministry of Civil Aviation and said that all necessary funds will be released in this regard. Now, the ball was in the State Government’s court, he added. “From April 1, four more flights of Air Asia will take off from Ranchi, including a morning flight to Delhi and an evening flight from Delhi to Ranchi enabling passengers to return same day from Delhi,” said Sinha. In addition to that, Hyderabad and Chennai will also be connected soon from Ranchi, he said. Sinha further said that the new Cargo Complex was an achievement for Jharkhand through which any product could be made available to any part of the country as around 25-30 tonnes of cargo is transported everyday out of which the major part is of on-line products. Teemu Pulkkinen Womens Jersey
Smart electrical grids prone to hacking: Study
Though technological advancements in smart electrical grid create improvements in monitoring, they also act as an entry point for hackers, researchers have revealed. Researchers from the Michigan Technological University said the reliability measures of electrical grid have risen to a new norm as they involve both physical security and cyber security. Threats can trigger instability, leading to blackouts and economic losses. “Ten years ago, cyber security simply didn’t exist — it wasn’t talked about and it wasn’t a problem. Now hackers can plan for a cyberattack that can cause larger power outages, people are starting to grasp the severity of the problem,” said Chee-Wooi Ten, Associate Professor at Michigan Technological University. Hackers target specific parts of the control network of power infrastructure and they focus on the mechanisms that control it. Automated systems control much of the grid from generation to transmission to use but without solid security measures, it also makes the systems vulnerable. According to Ten, the fundamental problem is a gap between physical equipment and intangible software. “With a better understanding of the system’s weaknesses, it’s easier to be strategic and shore up security risks. In the long run, improving regulations with specifics to match actual infrastructure needs and providing cyber security insurance will help,” Ten suggested in a the paper published in journal IEEE Transactions on Smart Grid. Beau Allen Authentic Jersey
Standard formula for power data to end manipulation
The government will soon standardise ways to foolproof the power sector of data manipulation by states. Come April and all states will calculate commercial losses — gap between cost and revenue on a standardised formula — while the data on the power supply position and billing efficiency will be sourced directly from electricity feeders without manual intervention. This will limit the scope of data manipulation by states. Experts say such measures will help bring transparency to the power sector that grapples with mistrust on data provided by states. At present, state distribution companies calculate the gap between their average cost of supply and average revenue realisation based on their own formulae. A senior government official said states do not follow standard procedures in calculation of losses. While some states calculate losses on the basis of energy fed into the system, some do it on the basis of energy sold to consumers. Some states take subsidies into account while calculating subsidies while others do not. “We have prepared a standard formula for calculation of losses. The report has been sent to the Central Electricity Authority (CEA), which will communicate it to states,” the official said. Currently, CEA collates data from states and drafts periodic reports. But there have been several instances of a state presenting different data to the CEA, electricity regulators and other forums. The power ministry is bound to accept the data given the country’s federal structure. The power ministry will next month also launch a web portal called National Power Portal and a mobile application connecting all 110,000 electricity feeders — equipment that links consumers to substations — in the country. The ministry has already connected and made 25,000 urban feeders live for energy auditing. “As data is completely automated, we’ll be able to conduct audits and ascertain the hours of energy supply and level of commercial and technical losses at feeder level in each state,” said the official. There have been instances of states fudging data to show zero power deficit, especially during elections. The official said once the national power portal and standardised formula are put in place, data collected from states on performance of the discom debt restructuring scheme, Ujwal Discom Assurance Yojna (UDAY), can be also be verified. Data shared by states show that states like Jharkhand, Goa, Gujarat and Puducherry have been able to reduce technical losses. Andhra Pradesh, Goa, Rajasthan and Chhattisgarh have also significantly reduced the gap between revenue and cost. Besides measures like curbing thefts, energy conservation and regular tariff petitions, power distribution companies are introducing innovative schemes to reduce losses. Power distribution companies of Bihar have implemented a billing software and started spot billing through mobile application. The Haryana government has announced Mhara Gaon-Jagmag Gaon scheme to provide 24-hour power supply in rural areas. If the village pays bills to the extent of 90%, the electricity supply to the village is increased from 18 to 21 hours. In Bithur village in Rajasthan, women have been engaged to curb transmission and distribution losses.Manipur has taken up installation of prepaid meters to reduce outstanding debts, energy theft and improve billing efficiency. Jimmy Hayes Womens Jersey
India has 10-year window to shift completely to renewable energy: TERI
Excess power generation capacity provides India an opportunity to shift completely to green energy. If the country can halve storage technology prices in 10 years it can do without the need for new coal based plants, a study by The Energy and Resource Institute (TERI) said. The TERI report indicated that current installed capacity and the capacity under construction would be able to meet demand till about 2026, keeping India power sufficient. The report estimates that no new investments are likely to be made in coal-based power generation in the years prior to that. The TERI report also estimates that beyond 2023-24, new power generation capacity could be all renewables, based on cost competitiveness of renewables as well as the ability of the grid to absorb large amounts of renewable energy together with battery-based balancing power. It also said that all new investments in power generation are likely to develop new storage technologies. LeBron James Womens Jersey
Pune International airport project to get DPR consultant soon
The Maharashtra Airport Development Company Limited (MADC) will select a consultant to prepare a detailed project report (DPR) for the Pune international airport project by this week. MADC vice chairman-cum-managing director Vishwas M Patil confirmed as much in reply to a text message. As per officials, the state government is just waiting for the completion of the municipal elections. “The consultant will tell us the exact cost of the whole project. Once the consultant is finalized, work will start immediately. The DPR should be ready in 4-5 months,” Patil told TOI. The DPR, once ready, will be sent to the state government for approval. With the model code of conduct being enforced for the elections, the district administration had put on hold announcement of a compensation package for the landowners in Purandar taluka. “The delay gives the authorities more time to study the package and carry out more surveys if necessary,” a district official said, adding that the package should be announced in the first week of March. “The exercise talking to landowners will be started again. Simultaneously, the administration will initiate the process of land acquisition. There will be some teething issues, but the project will not be affected,” the official said. Marc-Andre Fleury Jersey