Project Today reported that the Airports Authority of India plans to scrap the upgradation of about 7 of the 35 non metro airports. The move follows a reduction in revenue caused by airlines slashing the number of flights to stem mounting losses.
As per report, AAI had planned to spend at least INR 6,440 crore by 2011-12 for modernization of the 35 airports. The airports that were being revamped included Ahmedabad, Amritsar, Guwahati, Jaipur, Udaipur, Thiruvananthapuram, Lucknow, Goa, Madurai, Mangalore, Agatti, Aurangabad, Khajuraho, Rajkot, Vadodara, Bhopal, Indore, Nagpur, Visakhapatnam, Tiruchirappalli, Bhubaneswar, Coimbatore, Patna, Port Blair, Varanasi, Agartala, Dehradun, Imphal, Ranchi, Raipur, Agra, Chandigarh, Dimapur, Jammu and Pune.
Meanwhile, the authority proposes to take tackle the shortfall in modernization costs by seeking government approval to raise INR 5,000 crore from a sale of tax free bonds, increasing commercial development of airport properties, recovering dues from airlines and oil companies etc.
(Sourced from http://www.steelguru.com/news/index/2009/07/10/MTAxNTgw/AAI_may_scrap_modernization_of_7_airports.html)
Ashoka Buildcon bags transmission project from MSEDCL
Projects Today reported that Nashik based Ashoka Buildcon Limited has bagged an order from Maharashtra State Electricity Distribution Company Limited worth INR 1,018.84 crore for power transmission projects.
The scope of work includes construction activities in MSEDCL's Nashik and Aurangabad divisions, which involves construction of 72 new sub stations, augmentations or enhancement of existing 128 Substations, construction of 33 KV Overhead Lines (973 km), construction of 11 KV Overhead Lines (5,600 km) and construction of 7,200 new Distribution Transformers.
However, this project is part of MSEDCLs decision to upgrade its distribution network and will be completed in the next 2 years in MSEDCL's Nashik and Aurangabad divisions.
(Sourced from http://www.steelguru.com/news/index/2009/07/10/MTAxNTgx/Ashoka_Buildcon_bags_transmission_project_from_MSEDCL.html)
Projects Today reported that Prakash Industries is likely to raise USD 100 million through foreign currency convertible bonds to set up a 625 MW thermal power plant at Champa in Chhattisgarh.
According to report, the proposed plant is estimated to cost INR 2,500 crore with completion scheduled for 2013. The newly planned plant will enable the company to secure its long term power needs while the surplus power is to be sold through open access on spot prices.
Currently, PIL is operating 100 MW captive power plant using waste hot gases from the sponge iron kilns and coal based boilers. It has been allotted Fatehpur coal block in Chhattisgarh for power expansion projects.
Also, it has planned backward integration to fulfill the raw material requirement for its operations. It is operating a captive coal mine at Chotia in Chhattisgarh to fulfill coal requirements of the DRI Kilns and has been allotted coal block at Madanpur in Chhattisgarh for expansion requirements. It has been allotted iron ore mines which are expected to be operational during 2009.
(Sourced from http://www.steelguru.com/news/index/2009/07/10/MTAxNTgy/Prakash_Industries_to_raise_funds_for_Chhattisgarh_power_plant.html)
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