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
NHAI to float bids for monetising 10 national highway projects by April
Buoyed by response from institutional investors from the Middle-East, Canada and the US, NHAI plans to come out with bids for monetisation of 10 out of 75 public-funded national highway projects in the first phase. The move follows the government’s decision in August last year authorising the National Highways Authority of India (NHAI) to monetise public-funded highway projects in the country. “Bids are likely to be out by April inviting tenders for monetisation of at least 10 projects on toll operate transfer (TOT),” a senior NHAI official told PTI. The official said 10 such projects out of a basket of 75 have been identified for monetisation and several investors, including Canadian Pension Fund, Abu Dhabi Investment Fund and those from the US, Europe and Singapore, have shown keen interest in buying them. “Investors are keen on our projects and we are going to bid out the same,” the official said. Road Transport and Highways Minister Nitin Gadkari has earlier told PTI that monetisation of public-funded highway projects could result in funds in the range of Rs 80,000 to Rs 1 lakh crore initially. Ever since the government’s nod for monetisation, NHAI has been conducting traffic studies related to such projects, the revenue streams available and their overall viability. The Cabinet Committee on Economic Affairs on August 3 last year had authorised NHAI to monetise the public-funded highway projects for mobilising funds. Close to 75 operational NH projects completed under public funding have been preliminarily identified for potential monetisation using the toll operate transfer (TOT) Model. The corpus generated from proceeds of such project monetisation could be utilised by the government to meet its fund requirements regarding future development and operation and maintenance of highways in the country and could address development of highways in unviable geographies. Market feedback indicates that certain institutional investors from outside the country have long-term investment appetite and are keen to participate in operational highway projects with stable toll revenue outlook. These investors generally hesitate from taking construction risk, but are willing to look at de-risked Brownfield road assets, the government has earlier said. T.Y. Hilton Jersey
Refinery looks remote as differences between govt, Rajasthan escalate
Negotiations over refinery project is expected to stretch long as both Rajasthan government and oil major Hindustan Petroleum Corporation Ltd (HPCL) refused to their position over price revision According to sources, both parties have major differences over the availability of crude oil to keep a 9-million tonne (MT) refinery operational for at least 30 years. HPCL is relying on the conservative figures of directorate of hydrocarbons (DGH) which estimates reserves to be around 380 MT.Rajasthan government, however, based on the estimates of Crain India has argued that availability is much more. According to the sources, to strengthen its case, Rajasthan government is planning to approach DGH to validate the revised figures.”Discussions are on but still there is no meeting of minds. Both the stakeholders are though positive about the final outcome,” said a senior official who is privy to developments. Along with it issues like fixing internal rate of return (IRR) and financial assistance of Rs 37 billion as viability gap funding remains at core of ongoing discussions. In addition, the unilateral decision by the oil company to raise capital cost by Rs 70 billion have become point of contention.”HPCL has come down from their earlier 15% IRR. But even revised estimates are too high when compared with other refineries in the country,” added the official. According to the company though the size of the refinery remains the same, the unit will cost more because it now has to be built to produce Euro-VI grade petrol and diesel. Milan Lucic Jersey
Alternate fuels to hit petrol, diesel demand
Energy consumption cannot grow at current pace, say experts. Petrol and diesel demand have shown steady growth in the country over the last two years. Petrol in the financial year 2015-2016 clocked a demand growth of 15 per cent and is at 11.2 per cent for the first nine months of the current financial year. Diesel, which in 2015-16 grew at seven per cent, showed a 3.7 per cent growth in the nine-month period, according to Petroleum Planning and Analysis Cell (PPAC) data. However, this is bound to change, say industry experts as the trend may not be structurally viable and alternate fuels may play a larger role. “The GDP’s composition is changing with services inching towards 60 per cent, which is reducing the energy intensity of the economy. I do not expect demand for petrol and diesel to grow at a higher rate than the GDP. The recent 11-12 per cent annual growth number is an anomaly,” said Debasish Mishra, partner at Deloitte Touche Tohmatsu India. “In any country, and specifically for India, energy should track the GDP trend and hence energy consumption cannot structurally grow at the current pace. Energy growth should be in the range of 0.6 to 0.8 times of the GDP numbers, and petrol and diesel as a component of energy will sooner or later have to follow the same correlation,” said an oil and gas analyst from a domestic brokerage firm who did not wish to be named. Vivek Jain, associate director, India Ratings & Research expects petrol demand to grow at 11 per cent in the current financial year and taper down to 8-10 per cent in the next financial year. “Going forward, petrol demand growth should come down as we are talking about a higher base,” Jain said. He, however, remains optimistic about petrol demand growth. “GDP would be a wrong correlation to make. If vehicle sales growth continues, petrol consumption may continue to be strong,” Jain added. However, not everyone is convinced. “Taking a long-term view, energy efficiency and efficiency in fuel consumption in vehicles will taper petrol demand,” said the analyst quoted earlier. Several analysts also pointed out a significant contributor to petrol’s double digit growth was the shift in consumption from diesel to petrol. The future for diesel demand in the country looks bleak as alternate fuels like compressed natural gas and liquefied natural gas (LNG) take centre stage. Companies in India are now experimenting with options to run trucks on LNG and two-wheelers on CNG. Experts expect if these trials are successful they will further dent demand for diesel products. Truck transport in the country alone is a significant contributor to diesel demand. Authentic Jersey
ONGC’s $2.4 billion Mozambique deal under Oil Ministry scanner
ONGC’s USD 2.475 billion purchase of Videocon Group’s 10 per cent stake in a giant Mozambique gas field has come under the Oil Ministry’s scanner following allegations that the PSU may have overpaid about USD 200 million, charges that the company vehemently denied. ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), had in June 2013 bought 10 per cent stake in the Offshore Area 1 from Videocon Group for USD 2.475 billion. This stake was later divided between OVL and Oil India Ltd in 60:40 ratio. The deal has now come under Oil Ministry’s scanner following allegations that OVL might have overpaid Videocon. Government officials said the ministry has over the past few months asked the company to provide several details of the deal including the basis of the valuation. The inquest by the ministry was acknowledged by senior company officials, who said details have been provided on multiple occasions. Sources said Videocon was in 2012 willing to sell its stake to OVL at a small premium to the price Thailand’s PTT Exploration and Production paid for acquiring an 8.5 per cent stake in the same block from Cove Energy for 1.22 billion British pounds (USD 1.9 billion at exchange rate prevalent at that time). The 10 per cent stake, they said, was available to OVL for about USD 2.3 billion or so but the company a year later paid USD 2.475 billion to Videocon. An e-mail sent to ONGC Chairman Dinesh K Sarraf, who was Managing Director of OVL at the time of the deal, for comments received a response from the company stating: “There is no basis to this allegation and ONGC Videsh strongly refutes it.” OVL had followed up the Videocon purchase by buying another 10 per cent stake in the same Offshore Area 1 of Mozambique from US energy major Anadarko Corp for USD 2.64 billion in 2014. A year later, Anadarko in its annual filings with the US Securities and Exchange Commission said it made a “gain” of USD 1.5 billion or over 62 per cent of the purchase price, from the sale of 10 per cent interest in Offshore Area 1. Woodlands, Texas-based energy exploration company Anadarko continues to be the operator of the block, with its stake reduced to 26.5 per cent from 36.5 per cent after the deal. Presently, OVL has 16 per cent stake in Offshore Area 1, which holds as much as 75 trillion cubic feet of gas reserves. OIL has 4 per cent and a unit of Bharat Petroleum Corp Ltd (BPCL) another 10 per cent stake. Other partners in Area 1 include Mitsui with 20 per cent stake, ENH (15 per cent) and PTTEP (8.5 per cent). Gas from the block is to be converted into liquefied natural gas (LNG) for transportation by ships to markets like India. Sean Doolittle Jersey