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SECTOR | 05 Aug 2024

Ports Secretary Unveils New Shipbuilding Scheme; Forms JV To Own Large Tankers

NDTV Profit

The ministry also said it will provide 30% financial assistance for vessels where main propulsion is achieved by means of green fuels such as methanol/ ammonia / hydrogen fuel cells

Infrastructure

SECTOR | 05 Aug 2024

New shipbuilding scheme to incentivise Indian shipyards till 2035

Business Standard

Ministry of Ports, Shipping and Waterways (MoPSW) is working on a new shipbuilding scheme, which would incentivise Indian shipyards till 2035 by various measures, a senior government official has said. Ports, Shipping and Waterways Secretary T K Ramachandran further said with the new policy, India will endeavour to be among the top 10 shipbuilding nations by 2030 and the top five by 2047, from 22nd in the world at present. "Yes, this ministry is working on a new shipbuilding scheme, which would incentivise Indian shipyards till 2035 by various measures," he told PTI. Ramachandran also said global cruise major MSC Cruises, based out of Geneva, has expressed willingness to deploy their ships for domestic itinerary. He said MoPSW in coordination with Ministry of Petroleum and Natural Gas is planning to have a JV between Shipping Corporation of India (SCI) and oil marketing companies to own large tankers. "The model of ownership is still to be decided depending upon demand requirement

Infrastructure

SECTOR | 04 Aug 2024

Govt finalising Great Nicobar transhipment port's DPR, NGT scrutiny earlier

Business Standard

The detailed project report (DPR) of a Rs 41,000-crore international transhipment port project at Great Nicobar Island in the Bay of Bengal is being finalised by the government, and it will go ahead with the implementation of the project in the next few months, a senior official said on Sunday. Great Nicobar Transhipment port project has been under scrutiny over environmental concerns. "The project has received the environmental clearances and nod from National Green Tribunal (NGT) and now there is no hurdle in its implementation. "The DPR of the project is also finalised and we are going ahead for its further implementation in the next few months," Ports, Shipping and Waterways secretary T K Ramachandran told PTI in an interview. Last year, the Ministry of Ports, Shipping and Waterways in a statement had said the project is expected to be completed with an investment of Rs 41,000 crore (USD 5 billion), including investments from both government and public-private partnership (PPP)

Infrastructure

SECTOR | 02 Aug 2024

Adani Ports Q1 Review: Analysts Up Target Price As India's Infra Story To Aid Growth

NDTV Profit

Adani Ports' consolidated net profit rose in the first quarter of fiscal 2025, topping street expectations.

Adani Ports Q1 Results Review - Inline Performance; Outlook Remains Bright: Motilal Oswal

NDTV Profit | 02 Aug 2024 3 more

Infrastructure

SECTOR | 02 Aug 2024

Hot Stocks: Brokerage view on ITC, Sun Pharma, Adani Ports, Zomato and Dabur

Economic Times

Jefferies has maintained a buy rating on ITC with a target price of Rs 585. The 3% growth in cigarette business volume met expectations, and stable taxation suggests continued momentum in the coming quarters. However, other segments fell short in terms of revenues and margins.

Infrastructure

SECTOR | 02 Aug 2024

India adds two more ports for export of essential commodities to Maldives

Business Standard

India has announced two additional ports for the export of essential commodities from India to the Maldives for the financial year of 2024-25.The two new ports announced are namely: Kandla Sea (INIXY1) and Vishakhapatnam Sea (INYTZ1)."Government of India has announced the inclusion of two additional ports for export of essential commodities from India to the Maldives for FY 2024-2025," the Indian High Commission in Maldives said in a post on X.Kandla and Vishakhapatnam Customs Sea ports have been added to the list of ports allowed for Export of Essential Commodities. This is in addition to four ports which were already in use."In exercise of the powers conferred by Section 3 read with Section 5 of the Foreign Trade (Development & Regulation) Act. 1992. read with paragraph 1.02 and 2.01 of the Foreign Trade Policy (FTP) 2023, as amended from time to tone, the Central Government hereby amends Notification No 06/2023 dated 15 04 2024 incorporating (2) additional Ports for Export of

Infrastructure

SECTOR | 01 Aug 2024

Q1 Results Live Updates: Tata Motors, Adani Enterprises, ITC, Sun Pharma Report Cards Today

NDTV Profit

Adani Ports, Kalyan Jewellers, Zomato, Dabur India, and Godrej Agrovet will also report their Q1 results today.

Q1 Results Today: Tata Motors, Adani Ports, ITC, Zomato Among 80+ Firms To Declare Earnings On August 1

NDTV Profit | 01 Aug 2024

Infrastructure

SECTOR | 26 Jul 2024

Ministry of Ports receives 29 proposals worth Rs 3,300 cr from Andhra

Business Standard

Ministry of Ports, Shipping and Waterways has received 29 new proposals worth Rs 3,300 crore from Andhra Pradesh covering various projects, including port development and coastal berths, Parliament was informed on Friday. Replying to a question in the Lok Sabha, Ports, Shipping and Waterways Minister Sarbananda Sonowal said 13 projects in Andhra Pradesh, valued around Rs 2,500 crore, are currently receiving financial assistance under the Sagarmala scheme. These projects include Ro-Pax and passenger jetties, fishing harbours, port modernisation, and skill development. The ministry has already sanctioned Rs 450 crore for development of these projects, Sonowal said. Additionally, he said the Visakhapatnam Port Authority and Inland Waterways Authority of India (IWAI) have undertaken 36 projects in Andhra Pradesh, with a combined investment of Rs 4,600 crore. Among these, 22 projects worth Rs 2,530 crore have been completed, while 14 projects worth Rs 2,070 crore are in various stages o

Infrastructure

SECTOR | 25 Jul 2024

IN-SPACe invites proposals to build, manage satellite system under PPP model

Business Line

IN-SPACe is looking at Indian companies to design, build, and establish constellation of satellites in Low Earth Orbit having a combination of sensors including panchromatic, multispectral, hyperspectral and microwave Chennai

Infrastructure

SECTOR | 24 Jul 2024

Pvt operators seek Bengal govt nod to run state-owned buses via PPP model

Business Standard

A body of private bus operators in West Bengal has urged the state transport department to allow its members whose 15-year-old vehicles need to be scrapped by August to opt for a public-private-partnership model in which they can run state-owned buses against a monthly payment. The association sent a letter to Transport Minister Snehasis Chakraborty on Tuesday to allow such operators to opt for the PPP model, known as Bus Franchise Operators (BFOs), on a bigger scale and save them from financial losses, Joint Council of Bus Syndicate General Secretary Tapan Banerjee told PTI. In compliance with a Calcutta High Court order, 15-year-old buses and other commercial vehicles are required to be phased out from city roads. The buses, which hit roads in 2009 or 2010 will stop running in 2024 or 2025. Banerjee said that as part of the PPP model, private operators can run non-operating state-owned buses and pay Rs 14,000 a month to the transport corporation concerned. Already private operat