Roads ministry lags in awards, construction of highways in ongoing fiscal
The highways ministry is lagging behind its ambitious target of both award and construction of national highways. While the achievement in award of projects in this financial year is only 36% against the monthly target that the ministry had set for itself, the accomplishment in construction is only 60% against the monthly targets till August 26. TOI has learnt that 2,823 km of highway stretches were awarded for widening against the target of 7,875 km in this financial year. Similarly, construction on 2,625 km has been completed against the target of 4,400 km. In April, the highways ministry had set an ambitious target of constructing 15,000 km and awarding 25,000 km during this financial year. This seems to be tough to meet despite the ministry doing better than what previous governments were able to achieve. During the last financial year, a maximum of 6,000 km was constructed, the highest ever. Similarly, 10,000 km of highway stretches were awarded for expansion during 2015-16, which was the second highest since the government took up highway expansion in a big way. The record construction and widening of highways had marked a year-over-year increase of nearly 36%. Admitting that the target for this year is hard to achieve, ministry officials said they expect the pace of rolling out of projects to accelerate in the next few months. “Meeting are taking place regularly and monitoring is being done to push the award of works and also to expedite construction. Both have to go hand-in-hand. Systemic issues that often hold up projects have been addressed to a large extent,” a source said. Officials claimed that the pace of construction will also gain pace after monsoon. They said the speed of construction slows down during rainy season and picks up subsequently. Winter and summer are the most favourable periods of road construction and widening works. Realizing that the pace of construction needs to be pushed to maintain his record, highways minister Nitin Gadkari has asked NHAI and his ministry to adopt new technology, including the use of precast slabs. Earlier,he had told TOI that he had kept a higher target intentionally so that maximum work could be undertaken and completed. Danny Etling Jersey
‘India likely to add 4.8 GW solar power capacity this year’
Solar power generation capacity of 4.8 GW is likely to be added this year in the country as installations are picking up, says a report. The report by Mercom Capital Group also said that power distribution companies continue to be a “drag” since they are showing reluctance to buy solar energy amid low electricity prices. “India has reached 2.8 GW in solar installations year-to-date and cumulative installations have reached 8.1 GW as of August 2016,” it said in a release. As per its forecast, about 4.8 GW of solar energy capacity is expected to be installed in 2016. According to the global clean energy communications and research firm, the solar project pipeline in India is now approximately 21 GW, with 14 GW under development and 7 GW scheduled to be auctioned. One GW (Giga Watt) is equal to 1,000 MW (Mega Watt). “Solar installations and its share of energy generation has picked up speed but distribution companies continue to be a drag on the sector and are showing reluctance to purchase solar in light of low power demand and cheap power availability on the exchanges,” Mercom Capital Group CEO and Co-Founder Raj Prabhu said. This is an alarming development that the central government should address immediately to restore confidence among developers and investors, he added. Terrance Williams Womens Jersey
No power cuts even if NTPC cuts supply over dues: BSES
As the state-run NTPC Ltd plans to cut supply to BSES discoms in eastern and central Delhi from Sunday midnight over non-payment of Rs 961.58 crore dues, power companies today said the move will not impact supply quantity as they have enough electricity at their disposal. “The discoms have power storing arrangements. They will also purchase short-term power in case there emerges unforeseen situation at economical rates. Residents need not face power cuts. Meanwhile, we are making all the efforts to see the dues are cleared,” a BSES official said. The official further stated the power company is under “financial strain” due to non-liquidation of regulatory assets estimated to be over Rs 16,000 crore as on March 31. On the other hand, he said, the dues to be paid to the NTPC’s Aravali Power Company Private Limited (APCL), which supplies the power to the discoms, are to the tune of Rs 961.58 crore. “A matter to this regard is pending before Supreme Court and we are awaiting its judgment. The judgment shall pave the way for liquidation of the assets and thereby, clear the dues,” he added. The NTPC Ltd had yesterday said a notice for regulation of power supply was served on Anil Ambani-led Reliance Group’s BSES Rajdhani Power Ltd (BRPL) and BSES Yamuna Power Ltd (BYPL), which will deprive Delhi of 445 MW of power with effect from 00:00 hrs of September 5. “Despite clear directions of the Supreme Court, the dues continued to accumulate. Today, the outstanding amounts are Rs 961.58 crore (Rs.695.25 crore of BRPL & Rs.266.33 crore of (BYPL),” it had said. APCPL, Jhajjar has been supplying power to BRPL and BYPL since March 5, 2011. It has allocated 445 MW power to the discoms, 372 MW to BRPL and 73 MW to BYPL and average monthly energy bill is about Rs 87 crore (Rs 73 crore to BRPL and Rs 14 crore to BYPL) for the current financial year. The company had said the payments by the BSES discoms (power distribution companies) had become irregular for quite sometime. The matter was brought before the apex court, which in its judgement dated March 26, 2014 directed the BSES discoms to ensure payments of all current energy bills from January 1, 2014. However, the company said that despite clear directions of the Court, the dues continued to accumulate. MORE SBR ENM dues continued to accumulate. Brandon Marshall Womens Jersey
Looking to bring down cost of borrowings: PFS
PTC India Financial Services Ltd (PFS) is looking to bring down its cost of borrowings and is in discussions with various entities for competitive costs, the company said in its annual report. “PFS is working towards lowering its cost of borrowings and is in discussions with various multi-lateral/bilateral financing institutions for arranging funds at competitive costs/terms,” the company said in its annual report 2015-16. The company said it wishes to explore opportunities across the infrastructure sector. In 2015-16, the company’s total sanctioned debt assistance crossed Rs 15,000 crore mark. “The disbursements have been robust during FY16. PFS continues to focus its energies on lending outside coal-based power projects for infrastructure facilities such as power transmission, coal mining, private railway sidings and will continue to evaluate niche opportunities across energy value chain,” it said. Government is committed to provide everyone with access to electricity and has identified power sector as a key sector to focus on so as to promote sustained industrial growth, it added. “The development activities and the interest in the renewable area offers good potential to PFS. PFS continues to evaluate business proposals for these projects in line with the developments taking place in the sector and the initiatives undertaken at the governmental level,” says the report. This apart, PFS’ board has also recommended dividend of 12 per cent or Rs 1.2 per equity share of Rs 10 each for 2015-16. A subsidiary of PTC India, PFS is a registered NBFC with the Reserve Bank. The company provides financing solutions to the energy value chain which includes investing in equity or extending debt to power projects in generation, transmission, distribution, fuel resources and fuel-related infrastructure. Kevin Zeitler Authentic Jersey
Power tariff in Haryana cut 37 paise per unit
Two days after having decided to slash power rates in Haryana, distribution companies Uttar Haryana Bijli Vitran Nigam (UHBVN) and Dakshin Haryana Bijli Vitran Nigam on Sunday announced to pass on the benefits from this billing cycle. Haryana Electricity Regulatory Commission (HERC) on Friday notified to bring down electricity rates by 37 paisa per unit. This decision will benefit 55 lakh electricity consumers in all categories across the state. Additional chief secretary, Rajan Gupta said the companies were working towards implementing the HERC decision from this billing cycle. “This is for the first time in two decades when the state government had strongly pleaded to bring down tariff . This will bring major relief to consumers,” Haryana’s public relation minister, Kavita Jain said. Dennis Seidenberg Jersey
Exporters step up cargo handling demand at airport
A Russian cargo plane which landed in Madurai International Airport on Thursday with equipment for the Kudankulam Nuclear Power Plant in Tirunelveli has raised eyebrows of exporters and trade body representatives demanding international cargo facility for the last couple of years. They alleged that despite receiving clearance in 2013, the international cargo facility is yet to be operational at the airport. Scanners and other required facilities were installed long back, but the Customs department was yet to take custodianship for the cargo, said exporters, adding that it was “due to the lack of will to execute things quickly.” They said that the Russian cargo was immediately cleared by the Customs department after receiving approval from the terminal director, as it was in the interest of the government. They demanded that the authorities show the same urgency in safeguarding the interests of farmers and exporters. The exporters said that there was a huge potential for export of vegetables, fruits and flowers from Madurai and the facility would help farmers get good price for their produce as they would be able to export directly. Derrick Thomas Authentic Jersey
Foundation-stone for new international airport to be laid around Dussehra
After a long wait of over four decades, Agra will finally get a civil air terminal outside the ambit of the Indian Airforce by Dussehra this year, following a campaign run by India Today. Talking to India Today, Uttar Pradesh Chief Secretary Deepak Singhal said that the foundation stone of the international airport at Agra will hopefully be laid by October around Dussehra at Dhanauli village near Malpura gate of the Indian Airforce Base. Singhal said that preparations for the construction of the airport are complete and the central government has informed the UP government of the requisite documentation required to sign over the land to the Airports Authority of India (AAI) for the airport’s construction and operation. Following this declaration by the chief secretary, the Agra tourism industry is hoping that the timeline for the airport’s foundation stone laying will not be extended this time. Meanwhile, Air India has announced that a flight connecting Delhi to Agra will begin operating soon, utilizing the existing Civil Air Terminal inside the Air Force Base at present. It will transfer the operations to the new terminal as soon as it is ready. This flight is being seen as Air India’s attempt to cash in on the influx of tourists coming to Agra during the tourism season. The industry leaders expressed satisfaction to the positive outcome of a long struggle that the tourism industry of Agra fought against. Even the recent moving of the Taj International Airport project from Agra to Jewar by the then Union Minister of State for Civil Aviation Mahesh Sharma was seen as an attempt of the Delhi-lobby to hurt the tourism prospects of Agra. Walt Frazier Jersey
AirAsia sees 10% growth annually
After a strong showing in earnings in the second quarter, AirAsia group boss Tan Sri Tony Fernandes says the airline can grow by 10% every year despite operating in a competitive environment. He is looking at a 10% growth in available seat kilometre (ASK) every year for the next few years. ASK is a measure of an airline flight’s passenger carrying capacity, basically the number of seats available multiplied by the number of miles or kilometres flown. The airline is taking delivery of several aircraft over the next few years and it will be able to add capacity to grow. As it is, group wide, it has 180 aircraft in operation. “We will start growing aggressively in the next few years and will add 10% ASK. If we add 10% capacity, the growth will be 10%,” he says. Group wide, he expects the airline to carry 60 million passengers this year. Nolan Ryan Womens Jersey
Pune International Airport Site: AAI demands more land; focus shifts from Khed to Purandar
With more land sought by the Airports Authority of India (AAI) for the proposed Pune international airport, the district administration along with the officials from the AAI and Maharashtra Airport Development Company (MADC) have shown keen interest on the site in Purandar taluka, besides having assessed two sites of Koye-Pait and other villages in Khed taluka on Friday. The AAI, after the review, is expected to prepare their report within two weeks with Chief Minister Devendra Fadnavis asking them to speed up the process. Earlier, the AAI had put forth the proposal of 1,200 hectare but on Friday, the officials demanded 1,800-2,000 hectare, which came as point of concern for the district administration officials. The earlier two sites in Khed taluka is spread over 1,400-1,500 hectare while the villages Rajewadi and Waghapur in Purandar have the desired land as put forth by the AAI. The officials of AAI and MADC had reviewed the sites on Friday. According to MADC officials, the day-long review had the team from AAI examining all the options and the final report is expected within two weeks. Principal Secretary, civil aviation, Sham Lal Goyal, officials from AAI JK Dutta and S Dey were part of the team along with Vishwas Patil, MADC MD and Pune Collector Saurabh Rao. The existing two sites in Khed taluka at Rajgurunagar, which included the villages Gargotwadi and Koye Pait stretch, were shown to the team while they also conducted a recce on Purandar-Waghapur, Rajewadi and Dalimb in Daund area. While no site has been ruled out, the availability of land in these areas seems to make Purandar a viable option. The distance of these sites from the city is nearly 50 km. Pune district administration, led by the Pune Collector Saurabh Rao, said that the AAI put forth the fresh demand for 1,800-2,000 hectare of land on Friday for the first time. “We have shown them three sites and whichever is feasible and suits the requirement will be given a go-ahead by the AAI team. While the Khed site is slightly undulating and hilly which may escalate the cost of the project, the Purandar site is barren and plain,” said the collector. Moreover, the earlier demand of the runway was 6 km by 2 km and on Friday it was stated that they would require 6 km by 4 km by the AAI officials, which would mean more than 2,000 hectare of land would be required and that would mean more displacement and rehabilitation. Anthony Zettel Womens Jersey
Air India Express turns profitable for the first time
Air India is likely to enjoy acche din, as its low-cost international subsidiary Air India Express has turned the corner by reporting net profits for the first time since it started operations in April 2005. The airline reported a profit of Rs 362 crore during the 2015-16 fiscal, helped by lower fuel prices and improved revenues over the past year on the back of flying more people per flight. The airline had incurred losses of Rs 62 crore during the 2014-15 fiscal. Profits of AI express has come during the fiscal, when its parent Air India is also expected to make operational profit. The airline also found a mention in Prime Minister Narendra Modi’s Independence Day speech, where he complimented the national carrier for improved financial performance. The airline’s board approved the audited financial results on Wednesday. K Shyam Sundar, chief executive officer of Air India Charters Ltd, the subsidiary that operates Air India Express, told ET that the turnaround could be achieved on the back of improved operations. Bobby Hull Jersey