High-flyer: The maharaja who pioneered Indian aviation
As the Indian Air Force (IAF) gets ready to celebrate 84 years of its foundation on October 8, the Jodhpur Flying Club (JFC), set up in 1931 by the then ruler of Jodhpur Maharaja Umaid Singh at a small airfield near his palace, is completing 85 years of its glorious history. An avid flyer who was bestowed the title of air vice-marshal, it was Singh’s relentless efforts that made JFC Air Force Station the gateway to Far East by 1938, with three international airlines – Air France, KLM and Imperial Airways – frequenting the desert capital regularly. According to the director of Mehrangarh Museum Trust, Karni Singh Jasol, the aviation history was made possible by Umaid Singh who was keen to put Jodhpur on the global flying map. “He first built a landing strip here in 1924 and then formed the JFC with Geoffrey Goodwin of Johannesburg, South Africa, who became the first instructor at the flying club. The first two aircraft to be purchased were T-ABX and VT-ABY (bought from Delhi Flying Club for Rs 10,896 each),” he said. JFC was the first institution to induct the Tiger Moth aircraft in 1932, the year the IAF was established. This vintage aircraft has been fully restored by an aircraft restoration company in UK and was showcased at IAF’s ‘Iron Fist-2013’ exhibition at Pokhran. According to a defence spokesperson, the De Havilland DH82 Tiger Moth is a two-seat, single-bay biplane powered by a 145hp Gypsy Major four-cylinder inverted air-cooled engine. It was the primary trainer for the Royal Air Force (RAF) during the World War II, and continued in the service of IAF from 1940. It was later replaced as a trainer by the HT-2. Though, the JFC started humbly with two Tiger Moths, it progressed rapidly by 1938 and was at the forefront of civil aviation in India. Shaquille O’Neal Authentic Jersey
Centre will extend full support to state: Pradhan
Union Minister of State for Petroleum and Natural Gas Dharmendra Pradhan has said that the Petroleum Ministry will extend full support to the Kerala government in converting all public transport vehicles to Liquefied Natural Gas (LNG) and Compressed Natural Gas (CNG). “We welcome the Kerala government’s decision to convert the fuel of all public transport vehicles to LNG and CNG. We will set up a strong supply chain of LNG and CNG to ensure uninterrupted supply of clean energy in the state,” Pradhan told Express. The Ministry had already taken up the issue of the obstacles faced by the Gas Authority of India Limited (GAIL) in laying pipeline in the state and Chief Minister Pinarayi Vijayan had agreed to look into it, he said. “Kerala is to benefit once GAIL completes the green corridor project by laying natural gas pipeline from Mangaluru to Thiruvananthapuram,” the Minister said. Pradhan said that the petroleum sector contributed over Rs 230 billion per annum to the state and by laying the pipeline, we would be able to deliver hundred per cent clean energy to the state. On shortage of LPG cylinders in the state and the long delay faced by people in getting refilled cylinders, the Minister said that the BPCL and IOC plants in the state had enough capacity to supply LPG cylinders to the market without any delay, but the militant trade unionism in these plants was a hindrance. “Trade unions have fixed a certain number of cylinders which they will process in a single day and are not ready to increase the number. In spite of repeated efforts taken by the companies, they continue to create stumbling block. The Ministry has decided to take up the issue seriously to solve the cylinder shortage faced in the state. We will be writing to Chief Minister to take up the matter seriously with the unions and do the needful,” he added. Josh Bynes Authentic Jersey
Oil-for-drugs: no clarity yet on barter with Venezuela
Uncertainty continues on the much-awaited oil-for-drugs barter plan that India has proposed with Venezuela to repatriate millions of dollars owed to domestic pharmaceutical companies. This was disclosed by Anice Jospeh Chandra, Director of the Department of Commence, at a press conference on the sidelines of 12th annual meet of Pharmaceutical Export Promotion Council (Pharmexcil) here on Thursday. Many drugmakers, including Dr Reddy’s Laboratories Ltd, have pending payments from cash-strapped Venezuela, which has been witnessing a series of currency devaluations in the recent past. “We had earlier prepared a draft proposal for the barter plan by roping in the RBI, banks and our drugmakers, and are working on it for several months. We are yet to hear from the government of Venezula on this,” said Chandra, adding that no timeframe can be given to resolve the issue. As of now, Venezuela, Nigeria and Angola have turned ‘problematic’ in repatriations for Indian pharma companies. As per industry estimates, over Rs. 20 billion in payments were due from Venezuela alone. Earlier, Pharmexcil Chairman and Aurobindo Pharma Director M Madan Mohan Reddy said there was huge potential to be harnessed in pharma exports. “Globally, the pharma business was valued at $1050 billion and India accounted for only 2.5-3 per cent of it,” he said. PV Appaji, Director-General, Pharmexcil, said pharma exports are growing at 10-12 per cent per annum and the council is looking to expand the reach of Indian drugs. Jason Chimera Womens Jersey
Oil India investing Rs 12 billion to revamp pipeline pumping stations
Oil India Ltd (OIL) today said it is investing Rs 12 billion to revamp the pumping stations of its trunk pipeline. “Currently, revamping of the pumping stations of the trunk pipeline, which have been operating for over five decades, is in progress at a cost of Rs 12 billion,” a company statement said here. OIL operates a total network of 1,220 km long crude oil pipelines, with a capacity to carry 5.38 MMTPA crude. These pipelines transport crude oil produced from oilfields in Upper Assam to the public sector refineries at Numaligarh, Guwahati and Bongaigaon in the state. OIL Chairman and Managing Director Utpal Bora said at the Annual General Body Meeting that the company achieved highest ever production and sale of natural gas in its history during 2015-16 fiscal. “While natural gas production was 2,838 MMSCM as against 2,722 MMSCM during 2014-15, natural gas sales was 2,314 MMSCM as against 2,181 MMSCM during 2014-15,” he added. Bora informed the shareholders that crude oil production was 3.247 MMT as compared to 3.440 MMT during 2014-15. The turnover of the company stood at Rs 97.6487 billion as against Rs 97.4823 billion, while the Profit after Tax (PAT) was Rs 23.3011 billion against Rs 25.1020 billion during 2014- 15, he added. Bora said the contribution to the state exchequer during the year was Rs 18.61 billion and that to the Central government was Rs 32.45 billion. Sven Baertschi Authentic Jersey
BPCL Kochi Refinery set to become world-class: Dharmendra Pradhan
BPCL Kochi Refinery is all set to become a world-class refiner with crude oil processing capacity of 15.5 MMTPA, Union Minister Dharmendra Pradhan said today. “The Kochi Refinery had embarked on a great journey by processing 2.5 Million Metric Tonnes Per Annum (MMTPA) and presently is in the threshold of becoming a world-class refinery with crude oil refining capacity of 15.5 MMTPA,” the Oil and Petroleum, minister said. Pradhan was speaking at a function to commemorate BPCL Kochi Refinery’s Golden Jubilee here. The refinery is also setting up a petrochemical complex which would enhance the value chain, generate employment opportunities and increase economic activity in Kerala, he said. BPCL will set up a green bio-fuel refinery to produce ethanol at Kochi by converting agricultural and municipal waste, he added. The minister said about Rs 300 billion worth of investment is being implemented in Kerala including that of enhancing crude refining capacity of Kochi Refinery and the petrochemical complex. Rajya Sabha Deputy Chairman P J Kurian and State Power Minister Kadakampally Surendran were among those present on the occasion. Meanwhile, a press release said Kochi Refinery is undertaking the implementation of its Integrated Refinery Expansion Project (IREP) which is in its final stages. On other activities, release said BPCL in collaboration with other oil companies and the state government is setting up a world-class skill development institute at Ettumanoor near Kottayam. A framework agreement to this effect has been signed with the state government and select courses will be started in November 2016. Nettur Technical Training Foundation(NTTF) has been identified as the training partner for conducting the skill development training programme. Connor McGovern Jersey
Board approves pact to take stake in GSPC gas block
The Board of state-owned ONGC has approved signing of a preliminary agreement for buying a stake in Gujarat government firm GSPC’s KG basin gas block. The Board of Oil and Natural Gas Corp (ONGC) at its meeting on September 8 approved signing of an MoU for taking a stake in Gujarat Petroleum Corp Ltd’s (GSPC) difficult gas block, sources privy to the development said. The MoU approved strangely also incorporates a dispute resolution wherein any differences over issues like valuation or natural gas reserves would be referred to a three-member committee of outside experts. Sources said this is perhaps for the first time that a memorandum of understanding (MoU) sets out a dispute resolution committee and it perhaps is indication of the pitfalls that ONGC anticipates in buying a stake in the block. It has already differed with GSPC on the gas reserves the block holds and has appointed US-based consultant Ryder Scott to do an independent assessment. The three member committee will have economist and former oil secretary Vijay Kelkar and former CVC P Shankar, they said adding the third member will be appointed in due course. Once all the three members are in place, the MoU will be inked, the sources added. Since the BJP-led government came to power at the Centre, the Gujarat government firm GSPC has been seeking to sell a majority stake in its KG-OSN-2001/3 (Deendayal) block in Bay of Bengal to ONGC to avoid defaulting on loans. ONGC initially was not keen to buy stake in the block as it felt the block had reserves far less than what GSPC was claiming and the asking price for the stake was not commensurate with the returns. But it has now agreed to look at the possibility and the MoU is a step further in that direction, they said. Ryder Scott Petroleum Consultants has been asked to evaluate gas properties in the GSPC block and independently certify the reserves quantities, the source said. GSPC was to begin gas production from the block in 2013 but after sinking in USD 3.6 billion it was found that gas reserves are one-tenth of 20 trillion cubic feet claimed in 2005 and that too is technically difficult to produce. In the process it has amassed Rs 195.76 billion of debt, on which interest cost was Rs 18.0406 billion in 2014-15, according to the CAG. And against this its revenue was Rs 1.5251 billion in 2014-15. Sources said GSPC has been doing trial production of a very small volume of gas from August 4, 2014 and has not yet reached commercial production and in absence of revenue commensurate with the debt servicing obligations it risks becoming a defaulter. To bail out of the situation, it offered to sell 50 per cent stake to ONGC, they said. Elandon Roberts Authentic Jersey
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