Thursday, October 18, 2018

Rising operational costs make Air India turnaround even more difficult: Top official

NATIONAL carrier Air India's revival efforts have become more difficult with overall increase in operational expenditure and fierce competition. It was stated by Air India the Chairman and Managing Director Pradeep Singh Kharola. He emphasised the need to generate revenues in every possible manner to stay afloat.
The government is also working on ways to bolster the national carrier, which is financially stressed and is estimated to have a debt burden of more than Rs 50,000 crore, reports PTI.
"Our path towards turnaround has become more difficult with the...

Wednesday, October 17, 2018

NBCC inks MOU with MEA to build Convention Centres in Niger

The MoU was signed by Yogesh Sharma, Executive Director, Business Development, NBCC and Prashant Agarwal, Jt Scy Development Partnership Administration, MEA
NBCC has signed an Memorandum of Understanding (MoU) with the Ministry of External Affairs (MEA) to construct Mahatma Gandhi International convention centre (MGICC) at Niamey, the largest city and capital of Niger in West Africa.
The MoU was signed by Yogesh Sharma, Executive Director, Business Development and Prashant Agarwal, Joint Secretary Development Partnership Administration, MEA, Government of India (GOI), the PSU said in a statement.
As a construction partner, NBCC will work as a Project Management Consultancy (PMC) and would charge 7.5 percent of the total project cost.
NBCC will also do day-to-day...

Tuesday, October 16, 2018

Coal Ministry to take back Sitanala mine in Jharkhand from SAIL: Report

THE Centre has decided to take back Sitanala coking coal block in Jharkhand from the country’s largest steel producer SAIL on accounts of delays in the development of the mine. “A very little progress has been made in the development of the coal mines and the allottee has decided to surrender the same…As such there is no reason why the allotment agreement should not be terminated.
“In view of the above, it has been decided to terminate the allotment agreement and allotment order in respect of Sitanala coal mine. However the agreement and allotment order shall stand terminated w.e.f. October 25, 2018…,” the coal ministry said in a letter to Steel Authority of India Ltd.
The PSU had in March and again in April written to the coal ministry for...

Monday, October 15, 2018

NTPC signs Term Loan of Rs 5000 crore with SBI

STATE-run electricity generator NTPC signed a term loan agreement for Rs 5000 crore with State Bank of India recently. "This loan has a door to door tenure of 12 years and will be utilised to part finance the capital expenditure of NTPC," the Maharatna PSU said in a statement. The loan agreement was signed by Sudhir Arya, Chief Financial Officer, NTPC Ltd and Neelabh Sinha, Deputy General Manager, State Bank of India.
Earlier this year, NTPC had signed a term loan agreement with HDFC Bank worth Rs 1,500 crore. The PSU stated that the loan facility was extended at an interest rate linked to three-month Marginal Cost of Funds-based Lending Rate of the Bank.
Earlier, NTPC has won 160 Megawatt (Mw) of solar capacity in a reverse auction held the UP government. Out of the the total 160 MW; 140 Mw was won at a tariff of Rs 3.17 per Kwh and 20 Mw was won at a tariff of Rs 3.21 per Kwh.
This is the first time NTPC has participated in tariff based bidding of solar projects. "The 160 Mw of solar projects shall be set up by NTPC under EPC mode and shall add to it's installed capacity," the company said in a statement.
NTPC participated in the tender floated by Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) for 500 MW grid connected solar projects.
In another development, has invited bids for the development of wind-solar hybrid power project at NTPC, located in Kudgi, Karnataka.
The tender is for 60 MW (minimum) wind and 130 MW (minimum) solar hybrid energy project to be developed on a turnkey basis.
The scope of work includes the design, engineering, manufacturing, supply, packing and forwarding, transportation, unloading, storage, installation and commissioning of grid connected capacity. Operation & maintenance (O&M) would be for a duration of one year.
The bid-submission deadline is November 21, 2018 and all the bids should be accompanied by the bid security of ₹100 million (~$1.36 million).
To qualify for the bid under technical criteria (wind), a bidder should have manufactured, supplied, installed and commissioned wind turbine generators under RLMM (Revised List of Models and Manufactures issued by MNRE) of a minimum rating of 600 kW.

Saturday, October 13, 2018

Air India revival package may be ready in a month: Official


THE Centre will finalise a revival package for the ailing Air India in a month, a top official of the Civil Aviation Ministry said assuring "need-based" support to the debt-laden carrier.  Civil Aviation Secretary, RN Choubey also said the safety audit that the Director General of Civil Aviation ordered on domestic airlines "did not find any backlog of any safety steps that they should have taken."
"Whenever there is a need for financial support to Air India, it to Air India, it will be examined on need basis and such financial support on need...

Friday, October 12, 2018

BHEL bags Rs 2,900 cr orders from NTPC for emission control equipment: Report

BHARAT Heavy Electricals Ltd (BHEL), the country’s largest power equipment manufacturer, has announced it has bagged four order worth Rs 2,900 crore from state-run power generator NTPC Ltd for supplying emission control equipment.
Under the contracts, won through competitive bidding, BHEL would supply and install Flue Gas Desulphurization (FGD) systems for control of Sulphur Dioxide emissions at NTPC's 1,980 Megawatt (Mw) North Karanpura plant, 1,000 MW Mauda Stage-I project, 1,980 Mw Barh Stage-I and 1,320 Mw Barh Stage-II project.
“With these orders, BHEL is presently...

Thursday, October 11, 2018

NBCC bags Rs 1000 cr orders from Rajasthan and Uttarakhand

NBCC has bagged orders worth Rs. 1,000 crores from Uttarakhand and Rajasthan State Governments for various civil projects. The projects include developing two rivers fronts in Dehradun along the rivers Rispana and Bindal and developing a new multi-storey housing complex for the Rajasthan Administrative Service (RAS) and Rajasthan Police Service (RPS) officers, the PSU said in a statement on October 8.
In Uttarakhand, NBCC would work as an implementing agency and shall be responsible for planning, designing, construction, operation and management. The scope of work also includes building essential facilities such as retaining walls, check dams, storm water drain, utility provisions, road side green stretch, pedestrian walkways, bridges, etc.
“NBCC has earned laurels in executing projects of...

Wednesday, October 10, 2018

Air India makes fresh bid to raise Rs 500 crore:Report

NATIONAL carrier Air India has made a fresh attempt to raise Rs 500 crore in debt after a similar effort last month failed to find any takers. Air India plans to use the funds to meet working capital needs and pay interest on outstanding loans, according to a tender floated by the airline. Air India, which has a government-backed sovereign guarantee on its debt, hopes to raise the amount from domestic lenders for a loan tenure of one year.
PTI quoted a senior Air India official as saying that Air India allowed the previous...