Business Bytes

RFQ invited for Rs 17,750-cr Mumbai Trans Harbour Link

The Mumbai Metropolitan Region Development Authority (MMRDA) has invited request for qualification (RFQ) for the appointment of the contractor for the Rs 17,750 crore Mumbai Trans Harbour Link (MTHL) project. The 22-km long six lane bridge across the Mumbai harbour connecting Mumbai and Navi Mumbai will be implemented on an EPC - design build basis and not on the build operate transfer model, as per reports.
RFQs have been called for three civil packages, including construction of 10.380 km long bridge section across the Mumbai Bay and Sewri interchange (Rs 6,600 crore), 7.807 km long bridge section across Mumbai Bay and Shivaji Nagar inter change (Rs 4,900 crore) and 3.613 km long viaduct including interchanges at state highway 52 and at state highway 54 and at national highway 4B near Chilre in Navi Mumbai.
Bidders will have to submit bids by June 28 while MMRDA plans to appoint the contractor in October. The Japan International Cooperation Agency (JICA) on Monday has approved 80 per cent loan for the MTHL project and the loan agreement will be signed soon with the government of India. The balance will be mobilised from the state government and MMRDA.


National plan for railway infra development to be rolled out

Indian Railway is firming up a plan for infrastructure development with an ambitious target of pumping in more than Rs 8 trillion over the next four years. The massive investment plan would involve high-speed rail connectivity, station redevelopment and capacity augmentation across the country. As per the plan, while part of the funding will come from the capital expenditure provided for in the railway budget, a major chunk is expected to come from outside the budget through the PPP and multilateral funding.


Kolkata Port Trust lines up projects worth Rs 1,256 cr

Kolkata Port Trust is embarking on seven key projects amounting to Rs 1,256 crore in the current financial year to up its tonnage handling capacity and improve cargo handling capabilities. Of the proposed investment, Rs 370 crore will come from internal accruals while the port will opt for PPP for the remaining Rs 886 crore, as per reports. Slated for completion in a maximum two-year timeframe, it is setting up two outer riverine terminals with a consolidated capacity of 9.3 mmtpa which will draw in a total capital expenditure of Rs 640 crore while Rs 250 crore will be pumped in developing 5 mmtpa mooring facilities at Sandheads in West Bengal.


UltraTech profits rise 10% in 1Q16

UltraTech Cement Ltd’s net profit for the quarter ended 31 March rose 10 per cent due to a better operational performance. The company reported a consolidated net profit of Rs 723 crore, against Rs 657 crore in the same period a year ago. Net sales rose 5 per cent to Rs 6,850 crore from Rs 6,517 crore.


Cabinet okays Rs 5,100 cr cement, power plant plans

The cabinet has cleared proposals related to special benefits for setting up cement and power plants in Rajasthan and gave an in-principle nod for a private hospital in Kishangarh.
The cabinet cleared proposal regarding setting up of new cement unit having 3.30 MTPA capacity and captive power plant at Nawalgarh (Jhunjhnu) by Ultratech Cement Ltd. Investment of worth Rs 3,000 crore will be made and around 1,000 people will get direct and indirect employment in this project. It will also set up new cement unit of 2.20 MTPA capacity and captive power plant at Jaitaran (Pali). The company will invest Rs 2,100 crore, as per reports.


DLF CEO Rajeev Talwar is Chairman of NAREDCO

NAREDCO has appointed Rajeev Talwar as the new Chairman. At the 103rd Governing Council Meeting of National Real Estate Development Council (NAREDCO) Talwar was unanimously elected as its Chairman.
Talwar has rich and diversified experience spread over 35 years, both as a bureaucrat in government sector as well as in a leadership role in the private sector. Presently, Talwar is a Member of Board of Directors and CEO of DLF Ltd. Also, as Managing Director of DLF Universal Ltd, a group company of DLF Ltd, he heads company’s real estate developments in major cities across India. Over last 8 years, during his stint with DLF, he spearheaded country’s largest IPO (USD 2.2 bn), public policies pertaining to the sector and economy. He is the Chairman of Real Estate Committees at various industry chambers and associations.


National Highway projects worth Rs 6,284 cr okayed

The Ministry of Road, Transport and Highways has approved 11 National Highways projects worth Rs 6,284 crore. The total length of the road is 453 km and will be executed on EPC (Engineering, Procurement Construction), BOT (Toll) and Hybrid annuity model, as per reports. The project was approved by the Expenditure Finance Committee (EFC) meeting which was held under the chairmanship of Secretary Road, Transport and Highways. Out of the total 11 projects, one will be implemented on BOT(Toll) and Hybrid annuity each and the remaining nine projects will be on EPC mode, add reports.


Bonfiglioli and Carraro join hands

An important agreement aimed at developing the German company O&K Antriebstechnik owned by Carraro Group, specialised in the design and manufacture of components (planetary gears) for track machines and cranes, mining machines and marine applications, was presented recently in Milan by Sonia Bonfiglioli, Bonfiglioli Riduttori SpA Chairman, and by Enrico Carraro, Carraro SpA Chairman.

According to this agreement, Bonfiglioli acquires 55 per cent of O&K Antriebstechnik GmbH for the amount of €25.7 million. Carraro remains in the company with 45 per cent maintaining a strategic role as a key partner in the delivery of specific components.
From the industrial standpoint, Bonfiglioli extends its range with products for higher power applications that can be exploited by its extensive sales network, whereas thanks to this operation, the Carraro Group will be able to further concentrate on developing innovative products – especially transmissions – specifically designed for agricultural and construction equipment.

“The agreement with Bonfiglioli is a great industrial story, which sees two Italian companies join forces in a real partnership approach with a view to mutual development,” said Enrico Carraro, Carraro SpA Chairman.

"For us this is the second very important agreement signed between our Group and a major Italian company in just one year. In 2014, in fact, we announced the acquisition from a leading Italian company of the product lines dedicated to electromobility currently integrated at the plant in Forlì,” says Sonia Bonfiglioli, Bonfiglioli Riduttori SpA Chairman.