Sabarimala airport: Kerala govt to identify consultant for feasibility study
Moving a step forward for the ambitious Sabarimala airport project, Kerala government on Monday said that the process of identifying a consultant to conduct a feasibility study for the greenfield airport is on. The airport, planned in the 2,263 acre Cheruvally estate about 48 km away from the famed Sabarimala Lord Ayyappa Temple, has been a long felt need of lakhs of pilgrims, who throng the hillock shrine annually. Chief Minister Pinarayi Vijayan, in a written reply in the state assembly, said that the Kerala State Industrial Development Corporation, which has been entrusted with the task of identifying the consultant, submitted a recommendation in this regard. “KSIDC had invited Expression of Interest and submitted a recommendation to the government after completing the necessary procedures. We are examining this,” Vijayan said. The Chief Minister also made it clear that the government is yet to begin the land acquisition procedures for the proposed project. A dispute regarding the ownership of Cheruvally Estate is now under the consideration of the Kerala High Court, he said adding that as per the revenue records the property is government land. Lakhs of devotees visit the famed Lord Ayyappa shrine during the three-month long pilgrimage season between November and January every year. The temple is situated in the mountain ranges of the Western Ghats in Pathanamthitta district. The number of pilgrims visiting the temple has gone up in recent years and an airport is considered as an alternate to reduce traffic congestion during the festival season. The state government had in February 2016 accorded in principle sanction to construct the greenfield Sabarimala Airport. Earlier, there was a proposal to set up an airport at Aranmula, but following stiff resistance from environmental groups, the LDF government had last year cancelled all orders related to the project, including the grant of in-principle sanction. J. C. Ramirez Womens Jersey
No Early Delivery of Rafale Jets for India
The Indian Air Force will not be getting Rafale fighter jets before schedule despite several requests by the Indian government to France to speed up the delivery. “The delivery of the aircraft will commence from September 2019 and will be completed by April 2022. There is no anticipation of any delay in the scheduled delivery of the aircraft,” Arun Jaitley, India’s Minister of Defense informed the Parliament on Friday. On July 18 this year, Chief of Indian Air Force, B S Dhanoa visited the production facility of Dassault Aviation in France where Rafale jets meant for India were being manufactured and had reviewed the expected delivery time for the first batch of aircraft. Last year, India had sent a formal request to France to expedite the delivery of Rafale jets. “As per terms of the deal it is 36 months (during which the delivery has to start), but it may come slightly earlier. We have requested them to (deliver it) as fast as possible,” Manohar Parrikar, the then Defense Minister of India had said in a statement. However, Dassault Aviation’s half yearly report released on July 26 indicated a grim possibility of early delivery of Rafale to India. The report said that the company could complete manufacturing only four fighter jets in the first half of the current year as compared to seven aircraft in the same time period last year and the deliveries were made to armed forces of Egypt and France. Petr Mrazek Womens Jersey
DGCA to meet airlines ahead of ICAO audit
Aviation regulator DGCA will hold a meeting with airlines here tomorrow to assess their preparedness for the upcoming audit by the UN safety watchdog ICAO, an official said. The International Civil Aviation Organisation (ICAO) is set to carry out a safety oversight audit of the Directorate General of Civil Aviation (DGCA) in November this year. The audit is conducted in areas related to legislation, organisation, licensing, operation, airworthiness, accident investigation, air navigation and aerodromes. Significantly, the DGCA has already commenced a special audit of all scheduled domestic airlines to check their compliance with various safety and airworthiness requirements. “The DGCA will hold a meeting with the airlines here tomorrow to check their preparedness for the upcoming safety audit by the ICAO,” the official said. Antoine Vermette Jersey
Government to float RFP for merchant bankers over Air India disinvestment
The government will soon float a request for proposal (RFP) for selection of transaction advisor, legal advisor as well as asset valuer for the proposed disinvestment of national carrier Air India. The Cabinet Committee on Economic Affairs (CCEA), the apex body for formulation of government’s economic policies, had on June 28 granted its in-principle approval for considering strategic disinvestment of Air India and five of its subsidiaries, which include Air India Express as well as engineering and ground handling units. “The announcement of RFP for appointment of a transaction advisor, a legal advisor and asset valuer is expected to be made soon for disinvestment of Air India,” an airline source said. Though the government has not yet set any timeline for disinvesting its stake in the loss-making flag carrier, the whole process is expected to be completed in 12 months to 18 months time. “The announcement of the RFP will set in motion the stake sale process,” the source said. A group of ministers, headed by Finance Minister Arun Jaitley, has been mandated to decide on the treatment of unsustainable debt of Air India, hiving off certain assets to a shell company, spinning off and selling stakes in three profit-making subsidiaries, the quantum of disinvestment, and the eligibility criteria for the bidders. Launched by JRD Tata as Tata Airlines in 1932, its name was changed to the Air India in 1946. The government decided to take it over in 1953. Air India, which has a debt burden of more than Rs 52,000 crore, is staying afloat on taxpayers money. The previous UPA government had extended bailout package worth little over Rs 30,000 crore to the national carrier for a ten-year period starting from 2012. Air India’s net loss after tax narrowed to Rs 3,643 crore and operating profit rose to Rs 300 crore in the last financial year, Minister of State for Civil Aviation Jayant Sinha had informed Parliament last month. The airline’s total debt stood at Rs 48,876.81 crore (provisional figures) at the end of March 2017 and the out go on account of servicing the debt stands at around Rs 6,000 crore. The employees’ unions at Air India are opposed to the privatisation of the two government-run entities. Air Corporation Employees Union (ACEU), which is a grouping of Air India’s non-technical staff and comprises nearly 8,000 of the total 21,137 employees, has termed the decision as ‘arbitrary’. Jahleel Addae Authentic Jersey
Air India seeks $740 million loan to finance purchase of 6 Boeing planes
Air India is looking for bridge loans worth up to $740 million to finance purchase of six Boeing 787-8 planes, according to a tender document. While the government is working on final contours for a strategic disinvestment of its stake in loss-making Air India, the airline is ready with plans to fly to more overseas destinations. The airline has sought offers from banks and financial institutions to arrange bridge financing of up to $740 million for the six aircraft. The amount translates into around $123.3 million per plane. At the current exchange rate, $740 million is around Rs 4,720 crore. “In addition to the Government of India guarantee, Air India will offer the aircraft as a security. The facility should be a direct loan without the requirement for formation of a special purpose vehicle structure which requires title transfer,” the tender document, floated last Friday, said. Air India has an agreement with Boeing Company for purchase of 27 B787-8 planes. Out of them, the airline has completed the sale and lease back for 21 aircraft. For three B787-8 planes — each of which was delivered in November 2016, January and July — Air India had arranged bridge financing without Indian government’s guarantee. Among the remaining three aircraft, two are scheduled to be delivered this month and one in October. According to the document, the government has indicated that it would issue guarantee for the six B787-8 aircraft, which includes three that have already been delivered. “Therefore, Air India would like to refinance the bridge loan for 22nd to 24th B787-8 aircraft and needs interim bridge financing for the remaining three B787-8 aircraft (25th to 27th) for 15 months at the time of delivery,” the document said. Air India has a fleet of 110 planes, including 33 Boeing aircraft. Air India, which has the largest international market share among domestic carriers, will soon be launching flights to Stockholm and Copenhagen. Last month, the airline started direct service between New Delhi and Washington, its fifth destination in the US. As part of efforts to revive Air India, the Cabinet has given its in-principle approval to stake sale in the airline — which is surviving on taxpayers’ money. Devan Dubnyk Womens Jersey
GST implementation may hit solar capacity addition in 2018: Report
India has already installed more solar capacity in the first six months of 2017 than in the entire 2016, according to a report by Mercom Capital Group, which tracks the Indian solar sector. Around 4,800 MW has already been commissioned in calendar year 2017, against 4,038 MW in 2016. The report expected an addition of 10,500 MW through the year, which will be another record, almost twice the 5,525 MW added in financial year 2016-17. But 2018 is likely to be a different story because of confusion over applicability of the goods and services tax (GST) on solar products, the report warned. “We have reduced the 2018 forecast by approximately 15% due to uncertainty surrounding GST rates, which has resulted in a slowdown in tenders and auctions.” TAX BUMP Initially, the government had maintained that all solar components would invite 5% GST, as reported by ET in its July 4 edition. Later, however, it clarified that only solar modules would be taxed at 5%; the other components would face 18% or 28%. “Government agencies have created an environment of chaos and uncertainty surrounding these rates. It has brought auction and PPA signing activities to a standstill as nobody wants to move forward without knowing what the GST rates are going to be,” Mercom added. The ministry of new and renewable energy is urging the finance ministry to stick to the earlier 5% for all solar equipment, but a decision has yet to be announced. SLIDING TARIFFS The sharp fall in solar tariffs at the last auctions held in May this year has also become a dampener, according to the report. “States are postponing tenders and auctions as they angle for the lowest possible tariff, especially after the recent winning bid of Rs 2.44 per kwH in the Bhadla Solar Park auction. States are renegotiating power purchase agreements and want to re-tender to get closer to the lowest possible tariff.” Mercom said around 1,000 MW of tenders were cancelled in April-June. The report said the sharp fall in prices of Chinese solar cells and modules has brought down the cost of solar installation to Rs 4 crore per MW. It used to be over Rs 6 crore per MW even a year ago. Erik Condra Womens Jersey
Haryana waives wheeling charges on power generated from solar plants
The Haryana government has waived intra-state wheeling charges, cross subsidy charges, transmission and distribution charges on the electricity generated from solar power plants in the state. Any investor, who installs a solar power plant at any place in the state, can sell this power to any private entity within the state at mutually agreed tariff without paying these charges, an official release said here today. It said that state government has notified the Haryana Solar Power Policy-2016 with the objective of ensuring a high trajectory of growth in the solar power sector. Five acres of land is required for setting up of 1 MW ground mounted solar power project with an investment of about Rs five crore. The solar power produced may be purchased by the Haryana Power Purchase Centre on the tariff finalized by inviting the tenders on competitive bids. “Now the developers can enter into power purchase agreement with third party without paying any wheeling and transmission charges which makes investment in solar power projects in that state more attractive,” it said. The Union Ministry of New and Renewable Energy had raised the solar renewable purchase obligation targets for the obligated entities including distribution companies to 8 per cent from the current level of 3 per cent of power consumption, it further said. “This target would translate into installing 4030 MW capacity solar power plants including 1600 MW rooftop solar power projects by year 2021-22 in Haryana. The Solar Power Policy would immensely help to achieve the set goals in a defined time period,” it added. Donald Trump Womens Jersey
Tough time for coastal power companies on higher Indonesian coal prices
Costal power plants will have a higher fuel bill in August as prices of Indonesian steam coal have risen 44% to a seven-month high. International coal prices have risen 6.4% since June as China cut production and increased import. S&P Global Platts said US export prices of premium coal increased from $68 a tonne in January to $75.5 a tonne in August. The consequent increase in power cost will make it difficult for coastal plants to compete, say experts. Robert Alford Womens Jersey
India setting up energy cooperation network with neighbours: Dharmendra Pradhan
India is setting up an energy cooperation network with neighbouring countries Myanmar, Bangladesh and Nepal and huge pipelines would be laid as part of the ambitious project, Union Minister Dharmendra Pradhan said here on Monday. “Through diplomatic channels, India already tied up to set up an energy cooperation network with Myanmar, Bangladesh and Nepal. All the countries have already agreed to this ambitious mission,” said the Minister of State (independent charge) for Petroleum and Natural Gas. Through the proposed pipelines, diesel, liquefied petroleum gas (LPG) and other petroleum products would be ferried, he told the media. As the mountainous northeastern states are landslide prone and carrying of petroleum products in the region is a big problem, the proposed pipelines would be a great help for the area. The Minister accompanied by Tripura Food, Civil Supplies and Consumer Affairs Minister Bhanulal Saha on Monday launched the Pradhan Mantri Ujjwala Yojana (PMUY) scheme in the Left-ruled state by distributing PMUY connections to 20 women beneficiaries belonging to below poverty line. According to a senior official of the Oil and Natural Gas Corporation, as part of the “Hydrocarbon Vision 2030” for the northeastern region, 6,900 km of pipelines would be laid connecting Sitwe (Myanmar), Chittagong (Bangladesh), most northeastern states and West Bengal’s Siliguri and Durgapur. Currently, large quantities of gas is flared (burned) in the northeastern region because it can’t be piped to the consumers, the official added. Pradhan had launched the “North East Hydrocarbon Vision 2030” in February last year, proposing to invest Rs 1,30,000 crore over 15 years to ramp up hydrocarbon production in northeast India. Pradhan also laid the foundation stone for a 60 metric tonne per annum capacity LPG (cooking gas) bottling plant at Bodhjungnagar industrial park (20 km north of here) on Monday. A sum of Rs 143 crore would be spent for the plant, which would be commissioned by June 2019. “The proposed bottling plant at Bodhjungnagar would be able to cater to the rising demand of cooking gas in Tripura. Existing Silchar (in southern Assam) bottling plant’s capacity would also be augmented by 60 metric tonne per annum ensuring smooth supply of LPG in the northeastern states.” He said that after the launch of PMUY by Prime Minister Narendra Modi on May 1, 2016, so far over 2.7 crore beneficiaries have been given LPG connections. Pradhan said that the scheme aims to provide clean cooking fuel to women belonging to the five crore below poverty line households across the country by 2019. This is a part of a larger programme of adding 10 crore new LPG connections by 2019 to achieve full coverage of connections among Indian households. Breeland Speaks Authentic Jersey
GSPC won’t fully exit Rs 50 billion Mundra LNG project
Gujarat State Petroleum Corporation (GSPC) has clarified that it is not fully exiting the Rs 50 billion Mundra LNG terminal project in which Indian Oil Corp’s (IOC) is eyeing up to 50% stake. At present, GSPC holds 75% stake in the 5-million-tonne-per-annum project, while Adani Group holds 25%. GSPC had originally planned to sell the remaining 25% stake to a strategic partner and had even shortlisted some companies for the same but the plan could not go through for 3-4 years. However, IOC Board on Friday approved the proposal to acquire up to 50% stake in the project for an estimated Rs 7.50 billion. GSPC officials said that IOC is being roped in as a strategic partner. Of late, there have been speculations that GSPC was looking to sell its entire 75% stake and exit the Mundra LNG project and the latest development has further fuelled such speculations. State’s chief secretary and GSPC chairman J N Singh, however, told DNA Money that while a final decision regarding GSPC’s shareholding is still to be taken, “we are not going out for sure”. Asked if GSPC would remain a minority partner in the project by retaining just 25% stake, Singh said that it could be 25% or more. “The IOC Board has approved acquisition of up to 50% stake in the project. It is their offer, we are still to take a call,” Singh said. Another senior official also confirmed that the quantum of stake sale in the Mundra LNG project has not been decided yet, but a decision would be taken soon. “This decision has to be taken by the political leadership. But, it is equally true that GSPC does not have many financial resources,” he said. According to officials, work on the LNG terminal is nearing completion, and it is expected to be commissioned by the end of this year. The project comprises receiving, storage and regasification facilities for liquefied natural gas (LNG). The project’s initial capacity of 5 mtpa can be expanded to 10 mtpa. Howie Kendrick Jersey