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State govt. to set up SPV for Azhikkal Port
State Minister for Ports Kadanapally Ramachandran said, Kerala Government plans to set up a Special Purpose Vehicle (SPV) to take up the development of Azhikkal Port in Kannur district. The Minister said goods movement in the Malabar region would become faster once the port project is completed while replying to a calling attention motion in the Assembly. Memorandum of Association and Articles of Association fo ...
Ashok Leyland plans INR 600 cr capex this fiscal
Ashok Leyland today said it has lined up around INR 600 cr capex for this fiscal to enhance cabin and engine capacity besides setting up new assembly units in Kenya and Ivory Coast. The company is bullish on the Indian commercial vehicle market and expects the industry to grow around 10—15% this fiscal. Ashok Leyland Managing Director Vinod Dasari said that “We will have capex (capital expenditure) ...
ATF price cut by 5%; subsidised LPG hiked by INR 5.5
Aviation turbine fuel (ATF) price has been cut by over 5%, reversing a two-month rising trend, while rates of subsidised LPG were hiked by INR 5.57 per cylinder. Also, the rate of non-subsidised cooking gas (LPG) has been cut by INR 14.50 per cylinder in line with international trends. Oil companies said, Price of jet fuel or ATF was cut by INR 2,811.38 per kilolitre, or 5.1% to INR 51,428 per kl with effect fr ...
Airbus not looking to buy Pawan Hans stake
Airbus is not looking at “buying directly” Pawan Hans Helicopter Limited (PHHL), the state owned helicopter operator in which the Government plans to divest its stake. “We monitor who (will) be associated with it who will buy it. I think it will be an attractive proposition for investors. Having said that we are not looking to buying directly,” Pierre de Bausset, President and Managing D ...
Boeing to set up first overseas factory in China
Boeing will set up its first overseas factory in eastern China aiming to deliver 100 Boeing 737 planes a year. Boeing and Chinese aviation manufacturer Commercial Aircraft Corporation of China Limited (COMAC) will start to build a Boeing 737 completion centre in Zhoushan by the end of March, scheduled to make its first delivery in 2018. This is Boeing’s first overseas facility as part of its 737-productio ...
State to develop 13 Non- Major Ports
According to the Odisha Commerce Minister Ramesh Chandra Majhi, the Coastal state of Odisha would have as many as 13 Non-Major Ports. Keeping in view the surge in industrialization in the State, Odisha Government had identified 13 potential spots for ports. Though MoU had been worked upon, the projects had failed to take off earlier due to land acquisition-related hindrances. As a result none of the Non-Major P ...
Visakhapatnam port to start services for Nepali importers in March
Kolkata port will face stiff competition from Vizag deep-sea port on handling Nepal’s USD 2-3 million third country import cargo. Deputy Chairman PL Haranadh said that Container shipping liner Maersk is expected to deliver the first batch of containers at Vizag port in the first week of March. Maersk is the first liner to offer the aggregation services as part of market making for Vizag. Haranad is hopefu ...
Chardham highway project will be completed by 2018
The INR 12,000 crore 'Chardham' highway project in Uttarakhand will be completed by the end of 2018 irrespective of which party comes to power in the state, Union minister Nitin Gadkari has assured. Minister for Road Transport and Highways Gadkari also exuded confidence of winning the state election. Assembly elections in Uttarakhand were held in a single phase yesterday and the results will be announced on ...
IL&FS Engineering bags INR 123 cr orders from GAIL
IL&FS Engineering and Construction Company Limited has received a contract from Gas Authority of India Limited for two pipeline laying contracts worth INR 123.05 crore in Kerala and Karnataka. Both the spreads are contiguous and are part of Kochi-Koottanad-Mangalore pipeline project. IL&FS Engineering Services is already executing a part of this Kochi-Koottanad-Mangalore pipeline project for GAIL worth ...
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