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INDUSTRY UPDATE- MARCH 21,2016 VOLUME:07

Jan 2017
Govt fixes Rs. 3 lakh-cr road projects on radar Accelerating the current momentum of delivering road projects, the transport ministry has targeted to award worth Rs. 3 lakh-cr road and highway projects during the new financial year, Union Minister Nitin Gadkari said, adding that also, on the anvil is augmenting the National Highways length to 2 lakh km by August this year. The Road Transport and Highways Ministry has awarded contracts worth Rs. 1.5 lakh-cr in the last one-and-a-half year and building a world class infrastructure in the highway sector is the top most priority of the current government at the Centre. As a matter of fact, the ministry has decided to sign highways contracts to match the targeted road length as the highways building pace has already reached 20 km a day at present from a mere 2 Km a day when the current government took over and by May it is likely to reach 30 km a day, the minister added claiming that his ministry has already declared 1.52 lakh km of national highways and will take the length to 2 lakh km in next three months. Moreover, there is a plan to convert all the toll plazas into electronic ones and that 300 truck terminals have been planned along national highways. Also, tenders have been issued for 1200 road-side amenities which apart from rest houses would also include shops to sell local produce, eateries and other products, he said. Govt earmarks Rs.70k-cr for river front projects In order to exploit the full potentials of the country's 50,000 km of sea and river fronts by building as waterways, the government is looking innovative ways of financing and generating Rs 70,000-cr to develop these stretches in the first phase, Union Minister Nitin Gadkari said shortly after getting passed the crucial bill to declare 111 rivers across the country into National Waterways. The move will pave the way for development of these stretches as transport carriers. As a matter of fact, to date, only five of the river stretches were declared as National Waterways while the country has unique advantage as 14 of the states are bestowed with 7,500-km of coastline with 14,500-km of potentially navigable waterways. In addition, 116 rivers across the country provide 35,000 km of navigable stretches. In total India has huge length of waterways which on development will change the face of the country. In totality, the government is committed to aggressively work to develop these as the environment friendly mode of transport which is bound to decrease significantly the huge to the tune of 18% logistics cost in India, he North East gets Rs. 84.65-cr road project Strengthening the road network in the border belt of the state in Arunachal Pradesh, the transport ministry has announced a new road project from Tizit under Mon district in Nagaland to Pumao (Khonsa) in Arunachal Pradesh via Zangkham commanding a length of about 50 km and entailing an investment of Rs. 84.65cr, Nagaland minister for transport P. Paiwang Konyak, said in a statement, adding that the Union transport minister has given clearance for sanctioning the amount recently. The state minister, who held meeting with Gadkari at transport Bhavan New Delhi also submitted the concept note of the department on the project under Inter State Connectivity (IST) scheme. The union minister had earlier in October 2015 acknowledged the project and forwarded the letter for road construction to the chief engineer (P-8) in the ministry for appropriate action, he claimed railway cargo movement, free trade warehousing zone, domestic tariff area and other related activities. It will also have the facility to handle both in-bound and out-bound contract logistics services. With a view to enhance the future growth of Indian business sentiment, the company chose to set up a logistics park in Haryana as it is a preferred industrial and manufacturing destination. The company plans to offer end to end logistics solutions to its customers in the northern belt through its facility in Jhajjar district. The company has identified approximately 200 acres of freehold agricultural land for developing the said project, which is in close proximity to Dedicated Freight Corridor (DFC). IIFCL-JICA inks Rs. 2,866cr infra pact Ensuring smooth flow of funds to finance various infra projects across the country, India Infrastructure Finance Company Limited (IIFCL) in a recent move has inked pact with JICA involving Japanese 50 billion yen amounting to Rs. 2,866-cr assistance for the implementation of infrastructure projects on PPP model. The Official Development Assistance (ODA) will be functioning as the principal for the implementation of PPP Infrastructure Financing Project. The ODA loan conditions are concessional, i.e. the repayment period is fourteen years after a grace period of six years, and the rate of interest is floating rate of the London interbank offered rate for six month deposits in Japanese yen. The pact was signed between Takema Sakamoto, chief representative of JICA India and Sanjeev Ghai, Chief General Manager of IIFCL for promoting PPP-based infrastructure development mainly in the field of non-fossil power projects by providing long term finance to private/public enterprises and the banks/public financial institutions to lend to private/public enterprises for investment to viable infrastructure projects. Allcargo plans to set up a Logistics Park in Haryana Allcargo Logistics Ltd, a leading integrated logistics provider, has in-principle approved setting up of Logistics Park in the Jhajjar district of Haryana. The facility is expected to be operational by 2018, subject to necessary regulatory approvals and rail connectivity. The move is in line with company's business expansion plan. The Jhajjar project is one of its kind integrated logistics infrastructure set up which will comprise of rail linked private freight terminal catering to JICA injects Rs. 23,136cr in metro project Colaba Bandra Seepz Underground Metro Line The financing of Colaba-Bandra-Seepz underground Metro line has recently received clearance from Japanese International Cooperation Agency (JICA) to issue bids and to commence the construction work on the project entailing an investment worth Rs. 23,136cr, managing director of Mumbai Metro Rail Corporation (MMRC), Ashwini Bhide, said, claiming that the funding of the mega project recently received a clearance (NOC) from JICA and that the authority has already put in place certain processes and the remaining ones are being followed on war footing. Out of the entire estimated project cost, the civil work itself was earlier estimated to cost around Rs. 10,188cr. Through negotiations and cost cutting, by way of changes in station designs, the project cost has been brought down substantially. The estimates were prepared by consultant RITES as per the Delhi Metro Rail Corporation's (DMRC) specifications for the underground Metro works. In Delhi, the underground Metro stations are not at medians, but aside whereas in Mumbai, it will be at the median, and there are challenges of utilities for which stations have to be constructed deeper as compared to Delhi and also the groundwater table too is high in Mumbai as against its counterpart in Delhi and that the strata also vary in both the cities. Work on Nagpur-Mumbai super-expressway to start in December Chief Minister Devendra Fadnavis has set an ambitious target to start the work on NagpurMumbai super-expressway in December this year. The first phase of this road is to be completed by 2019 and the project will be fully ready by December 2020. The CM further said that the Detailed Project Report (DPR) will be available in June 2016. To expedite DPR preparation, Maharashtra State Road Development Corporation (MSRDC) has divided the 793km expressway passing through 14 districts into five packages or stretches. Five agencies are simultaneously preparing the DPR for their respective package. The financial closure of the project will be achieved in September 2016. Asian Development Bank (ADB) has already started its appraisal of the project. Malaysian government has also evinced interest in financing the project. The road will pave the way for development of Vidarbha and Marathwada and benefit farm produce to reach Mumbai from Nagpur in eight hours. This will immensely benefit the farmers of the two backward regions. The five packages of super expressway are; Jamtha-Butibori MIDC-Wardha-Pulgaon stretch having length of approx. 128km in Nagpur and Wardha districts. The second package is for the stretch from Pulgaon-Karanja Lad-Sindkhedraja up to Jalna district border. This stretch covers Amravati, Washim and Buldhana districts of Amravati revenue division. Its length is about 256km. The third package is for the stretch in Marathwada. It starts from Jalna-Buldhana district border and goes up to Vaijapur through Jalna and Aurangabad districts, with a length of 165km. The fourth package covers the stretch from Vaijapur to Ghoti (near Igatpuri in Nashik district) and passes through Ahmednagar and Nashik districts. The fifth package is for the 80km stretch from Ghoti to Padgha. This lies entirely in Thane district. Hyundai Update Customer Meet by Vrundavan Infra Equipments at Vadagam, Gujarat Vrundavan Infra Equipments, our East Gujarat Dealer recently organised a Customer Meet in Vadagam district. About 150 customers attended the meet, during which Keys were handed over to customers. During the meet, few business enquiries and lot of prospects were generated for 20T machines.

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