BGR energy scraps power plant contract in Iraq
The Dollar Business Bureau BGR Energy Systems has canceled a $246-million order to set up a 500 MW gas turbine power plant in Iraq for Al Nasiriya. The company in its BSE filing said, “The company has now struck off a carryover contract value of $246 million from its order book." It has entered into an Engineering Procurement Construction (EPC) contract on October 13, 2013 which was valued at $246 million for the Al Nasiriya 500 MW Gas Turbine Power Plant project with the Ministry of Electricity, Iraq(MoE). According to the terms of the contract, the MoE has provided a Letter of Credit for 50 percent of the contract value in favor of BGR Energy. It has also issued a performance bond equal ...
Better infrastructure, quality standards required to make India a milk exporter: CII
The Dollar Business Bureau | @TheDollarBiz India’s formal dairy market size is estimated at $10 billion and is expected to grow at a CAGR of 13-15% India’s milk consumption is growing faster than production and this could make the country an importer of milk if necessary steps are not taken by policy makers and other stakeholders, said representatives of the industry body Confederation of Indian Industry (CII) at the “Dairy Vision 2025” conference held with the support of Ministry of Agriculture. India is the world’s largest producer of milk (producing around 132 million tonnes per year as of 2012-13), but most of it is consumed in the domestic market and the sector remains largely unorganised. According to CII, the dairy sector ...
