Chidambaranar Port, TANGEDCO ink pact to upgrade coal jetties to handle 24 mn tonnes
The Dollar Business Bureau One of the top major ports in the country, the VO Chidambaranar (VOC) Port and Tamil Nadu’s Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) inked an agreement today to increase the capacities of two coal jetties at the port four-fold to 24 million tonnes for Rs 800 crore. The pact will upgrade two coal jetties at VOC Port - Jetty I and II -- from 6.25 MTPA (million tonne per annum) to 24 MTPA. The Ministry of Shipping in a press a statement said: "The VOCP Trust signed a Memorandum of Understanding with Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) for the upgradation of Coal Jetty I and II.” The Minister for Shipping Nitin Gadkari said that coal ...
GST An Update on the Key Developments During This Week
Ranjeet Mahtani and Stella Joseph This week witnessed significant progress towards GST, with the GST Bills receiving Presidential assent and becoming enactments viz. the Central Goods and Services Tax Act, 2017 (“CGST Act”), the Integrated Goods and Services Tax Act, 2017 (ÏGST Act”), the Union Territory Goods and Services Tax Act, 2017 (ÜTGST Act”) and the Goods and Services Tax (Compensation to States) Act, 2017 (“the Compensation Act”). The provisions under these enactments shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint. This is a crucial milestone in the journey towards GST, as now, there is certainty with regards to the exact shape and contour of the GST legislations, as and ...
Govt to reduce logistics costs to 12%
Ahmad Shariq Khan & Aamir H Kaki The Govt wants to bring down the overall logistics cost to 12%. This was revealed by Nitin Gadkari, Minister for Road Transport, Highways and Shipping during the unveiling of the 3rd edition of a report titled “Operational Efficiency of Freight Transportation by Road in India”, on Tuesday. The report was jointly published by Transport Corporation of India (TCI) and IIM Calcutta.Speaking on the occasion he said if India does not bring down logistics costs, which currently stand at 18 percent, the country will not be able to give a competitive edge to it's exporters. He also stressed on the need to develop multimodal transportation solutions in the country.Referring to China he said, "China's ...
Transporting coal via waterways can save Rs.10k cr per year: Gadkari
Source: PTI “We expect the ports to register a profit of Rs.6,000 crore this fiscal,” the Shipping Minister said Inland waterways can not only boost the movement of goods and passengers across the country, but will also help in saving about Rs.10,000 crore annually in transporting coal, Shipping Minister Nitin Gadkari said on Saturday. The minister, who also holds the charge of Road Transport and Highways, added that he is hopeful of Parliament's nod on the bill to convert 111 rivers across India into National Waterways in the current Winter Session. “Inland waterways will help in saving logistics costs and boost movement of goods and passengers across the country. Besides, they will also save around Rs 10,000 crore per year while ...
