Business Bytes

Cabinet okays 1,980 MW Ghatampur thermal power plant

The Cabinet Committee on Economic Affairs (CCEA) has approved the construction of the 1,980 MW Ghatampur Thermal Power Project in Kanpur, Uttar Pradesh at an estimated cost of Rs 17,237.8 crore, as per reports. The approval is for installation of 3 X 660 MW capacity through a joint venture company Neyveli Uttar Pradesh Power Ltd formed jointly by Neyveli Lignite Corporation and Uttar Pradesh Rajya Vidyut Utpadan Nigam, as per reports. The commissioning of Unit I, II and III will be 52 months, 58 months and 64 months respectively from starting date.

The Coal Ministry has already allotted the Pachwara South coal block in Jharkhand for meeting the coal requirements of the project, add reports.


Railways, Haryana sign JV to expand state rail network

Railways signed a Joint Venture agreement with Haryana to expand rail network in the state at a faster pace, as per reports. The national transporter has taken initiative for formation of JV companies with states to expedite implementation of rail projects.

Keeping in mind the growing demands for railway lines in various states and huge requirement of funds to execute them, JV companies will be now responsible for identifying projects, land acquisition and possible financing in addition to government funding and also monitoring.

Each JV would have an initial paid-up capital of Rs 100 crore based on the quantum of projects to be undertaken, a report adds. Railways initial paid up capital will be limited to Rs 50 crore for each state. Further infusion of fund or equity for the purpose of the projects shall be done after approval of the project and its funding at the level of appropriate competent authority.

As part of the initiative, 17 States have consented for formation of such companies and 8 states have signed MOUs with railways.


Govt to invest Rs 4,000 cr in road projects in Tripura

The government plans to pump in around Rs 4,000 crore in road projects in Tripura through PWD and the National Highways and Infrastructure Development Corporation Ltd (NHIDCL). The state has 853 km of national highways, of which 731 km are with the state PWD and 122 km with NHIDCL, as per reports. Four projects are currently on in the state, with a total length of 147 km and total project cost of Rs 1,162 crore.

One project with a length of 24 km and total project cost of Rs 42 crore is likely to be awarded in next three months, and another three projects with a length of 110 km and cost of Rs 470 crore are under DPR and various stages of award. These are likely to be awarded in the next one year, add reports.


Odisha creates steel directorate

During the period when the steel projects are facing issues regarding land acquisition and raw material crisis, the Odisha Government has come up with a special steel directorate under the state steel and mines department. The directorate would be a dedicated wing to resolve bottlenecks faced by the steel, sponge iron, pellet and iron ore benefaction plants which so far has invested around Rs 2 lakh crore, as per reports.

The directorate would work to frame policy initiatives for utilization of the untapped potential in the state for upgradation of the steel sector. It can also advise the state government on policy matters related to steel, as per sources. Currently, it would operate from the directorate of geology and special secretary of the state steel and mines department has been appointed as the in-charge director.


Caterpillar hails transition of dealer TIPL to Goodearth Minetech

Caterpillar hailed the completion of the transition to new management of one of its oldest dealers anywhere in the world, Tractors India Pvt Ltd (TIPL). The transition of TIPL from Tractors India Ltd (TIL) to Goodearth Minetech Pvt Ltd under the leadership of Sunil Chaturvedi means TIPL will continue to serve Cat customers in the north and east of India, Nepal and the Kingdom of Bhutan.

The transition also sees Sunil Chaturvedi taking over as dealer principal of TIPL from Sumit Mazumder. TIPL has been a Cat dealer for over 72 years and helped established Cat machines and engines in a leadership position in the construction, energy and transport and mining sectors. TIPL has an extensive footprint in its areas of coverage with 1,250 employees in 88 branches and touchpoints, workshops and a state-of-the-art Component Rebuild Centre in Asansol.

“We are delighted to welcome Sunil as the new dealer principal of TIPL and look forward to the continued growth of Caterpillar’s business under his stewardship in the rapidly growing economy of India,” said Raymond Chan, Vice President, ACAM (Asia Pacific, CIS, Africa and Middle East) Distribution Services, Caterpillar, Inc. “We also would like to put on record Caterpillar’s deep appreciation for the dedication and effort from Sumit over the past few decades in building a solid foundation for the business. We wish him all the best for the future.”

Caterpillar operates its business of distribution of equipment, parts, and service support for its entire range of construction equipment, mining equipment and engine products in India and some of the neighbouring markets through two dealers in India. Besides TIPL, GMMCO, a CK Birla-group company, is the other Cat dealer.


India-Bangladesh new rail project

Almost six years after the finalisation of a new India-Bangladesh railway project, railway ministers of the two countries have laid the foundation stone of a Rs 968 crore vital rail link scheme. The project, which was sanctioned in the 2012-13 railway budget, would be a part of the Trans Asian Railway network and would provide a much shorter connectivity from northeastern states to Kolkata via Bangladesh.

The state-owned Indian Railway Construction Company (IRCON) has been nominated to act as technical advisor for Bangladesh portion and to execute the work in Indian portion.

On the Indian side, some portion of the track would be elevated to avoid farm land and habitations.


Foundation stone laid for NTPC power plant in Telangana

Prime Minister Narendra Modi laid the foundation stone for the Rs 10,598.98 crore National Thermal Power Corporation's (NTPC) 1,600 MW Telangana Super Thermal Power Project (Phase I) in Ramagundam city.

NTPC is set to establish the project in Telengana in two phases — 1600 MW (2x800MW) in Phase I and 2400 MW (3x800 MW) in Phase II.


CIDCO to set up a major logistics hub at JNPT port

The City and Industrial Development Corporation (CIDCO) is planning to set up a logistics hub in the periphery of the port. The newly planned hub would be set up on a 414 hectare area in the Jawaharlal Nehru Port Trust Influence Area (JNPTIA). The new hub would consist of 64 container freight stations (CFS) and warehouses. At present, an economic feasibility report is being prepared by CIDCO for acquiring the land for setting up the logistics hub. Also 10 petrol pumps and parking yard for the containers would also be set up under the logistics hub.

At present, the capacity of three container terminals at JNPT is 4.49 million TEU (Twenty Foot Equivalent Units, a measure for the containers). It has now planned to double its capacity by bringing the fourth container terminal bearing a capacity of 4.8 million TEU.