Business Bytes

Govt. aims to add 41 km of highways per day in 2016-17

Government has set an ambitious target of constructing 41 km of national highways every day in 2016-17, up from more than 16 km per day of highways it built in 2015-16. The Road Transport and Highways Ministry will award contracts for 25,000 km national highway projects, two-and-a-half times more than the projects it had sanctioned in the previous year. It has set a target of constructing 15,000 km of national highways in 2016-17 as against 6,000 km built last year, as per reports. Out of the total award target of 25,000 km, the National Highways Authority of India (NHAI) will award 15,000 km and the remaining 10,000 km will be done by the Ministry.


Brazilian company plans Rs 1,000 cr investment in Andhra Pradesh plant

Brazilian steel major Gerdau Steel plans to invest up to Rs 1,000 crore in adding capacity in its existing plant in Andhra Pradesh. Gerdau Steel expects to add another two lakh tonne capacity in the next couple of years. The company has started looking at plans to expand product portfolio and further process debottlenecking. Over the next couple of years, the capacity can be debottlenecked and another two lakh tonne per year is likely to be added totalling five lakh tonne per year. The steel maker forayed into India in 2007-08 as a joint venture partner with Kalyani Steel.

Gerdau Steel has a three-lakh-capacity steel plant in Tadipatri and it is the largest investment so far from Brazilian company in India. Globally, the company has a total of 20 million tonne capacity, including nine mt in its plants in Brazil. It has presence in 14 countries and has about 60 plants globally.


Green nod for BPCL’s Rs 694 cr LPG project in West Bengal

State-owned fuel retailer BPCL has got green nod for its Rs 694-crore project of developing LPG import terminal as well as storage, bottling and bulk distribution facilities at Haldia Dock Complex in West Bengal. The proposed project will ensure LPG supplies to far-flung areas of eastern and north-eastern regions and will create an infrastructure to import the eco-friendly LPG fuel.
BPCL will set up an import terminal at Haldia to import 1 mmtpa of refrigerated Propane and Butane. The proposal also includes setting up of a bottling plant comprising two LPG-mounded bullet storage facility of 350 tonnes capacity each.


Maharashtra to launch Rs 1-lakh-cr projects in Mumbai

Maharashtra will launch infrastructure projects worth Rs 1 lakh crore  ($15 billion) during this year. The list of projects include water reuse and recycling, sold waste management, Mumbai Metro expansion, Mumbai coastal road, Mumbai Trans Harbour Link, water transport, port and jetty construction, roads and Smart City. These projects will be undertaken by BMC, Mumbai Metropolitan Region Development Authority (MMRDA), Maharashtra State Road Development Corporation by roping in contractors from India and other countries.


Government to invest Rs 16,680 crore to build expressways

Government has approved a plan for constructing 1,000 km of expressways under the National Highways Development Project (NHDP) phase VI at a cost of Rs 16,680 crore on DBFOT basis, as per reports. The main criterion for the selection of expressway corridors is traffic volume, with the government approving the high-density corridor i.e. Vadodara-Mumbai (400 km) for feasibility study. It was also decided that the remaining 600 km will be selected out of the routes identified on the basis of traffic volume.
The high density corridors approved under NHDP phase VI are Vadodara-Mumbai stretch (400 km) in Gujarat and Maharashtra, Delhi-Meerut (66 km) on NH 58 in Delhi/UP and Bengaluru-Chennai (334 km) on NH 4 in Karnataka-Tamil Nadu. The remaining projects include “Delhi-Jaipur (261 km) on NH 8 in Delhi-Rajasthan, Delhi-Chandigarh (249 km) on NH 1 and NH 22 (now changed to Delhi-Ludhiana-Amritsar-Katra expressway) in Delhi/Punjab/J&K, Kolkata-Dhanbad (277 km) on NH 2 in West Bengal/Jharkhand and Delhi-Agra (200 km) on NH 2 in Delhi/UP.


Vedanta to set up steel plant in Jharkhand

Mining major Vedanta has signed an MoU with the Jharkhand Government to set up a steel plant of one million tonnes capacity in the state, as per reports. The company will set up the hot iron and ductile iron (DI) pipe plant and will invest Rs 15,000 crore to Rs 17,000 crore in the project. Two locations have been identified for the proposed plant and the proposed site for the plant is likely to be in Seraikela-Kharsawan district. The plant is likely to be functional by 2020-2021.


J&K to invest Rs 2,000 cr on mini-hydel projects

J&K Government is planning to spend Rs 2,000 crore for mini-hydel power projects (all between 9 to 15 MW) to harness power potential in Jammu and Kashmir even as the Government has decided to re-tender Ratle power project in Kishtwar after GVK decision to exit from the project while Kishanganga power project over river Neelum in Gurez will be completed next year, as per reports.


Telangana to seek Rs 6,700 cr for 11 projects

The Telangana Government has decided to seek an assistance of Rs 6,700 crore to the State under Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) from the Centre to complete 11 major and medium irrigation projects under implementation. Detailed proposals of the 11 projects were already prepared by the department with the help of Central Water Commission officials and they would be forwarded to the Centre soon.