Cabinet approves BIMSTEC MoU for cross-border power grid interconnections
The Dollar Business Bureau A Memorandum of Understanding (MoU) on grid interconnections for smooth power sharing infrastructure in the South Asian region was finalised by seven partner countries of BIMSTEC in January 2017. Bangladesh, Myanmar, Nepal, Bhutan, Thailand, Sri Lanka and India had together initiated the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) in 2005 to formulate the "Plan of Action for Energy Cooperation in BIMSTEC". Giving a nod to a proposal forwarded by the Ministry of Power on April 12, the Cabinet approved the signing of "Memorandum of Understanding for Establishment of the BIMSTEC Grid Interconnection". Negotiations for the agreement have been ongoing for years. During the period, a total of five meetings were held under the banner 'Task Force for BIMSTEC on Trans-power Exchange', to reach consensus. Once a draft MoU ...
ICRA predicts strong growth in demand for base metals
The Dollar Business Bureau ICRA predicts that the demand for base metals will remain firm in future as the government is heavily investing in infrastructure. The Smart City Mission will also boost the use of metals like zinc, aluminium and copper as construction activity picks up pace. Massive investments in infrastructure for distribution and transmission of power will further fuel the output of base metals. During FY 2016-17 (Apr-Nov), the output growth of zinc, aluminium and copper remained high at 7%, 10% and 8% respectively, owing to healthy demand from the power sector and automobile manufacturers. ICRA also notes that after the deployment of an air pollution control program in Beijing, China is likely to cut down its aluminium production by 3 million tonnes, creating a supply shortage globally, which can be leveraged ...
Sterlite Tech completes demerger of power business
The Dollar Business Bureau Sterlite Technologies Ltd has completed the demerger of its power transmission business into Sterlite Power Transmission Ltd. The demerger was already approved by the Mumbai High Court on April 22, 2016. The demerger of power business will provide better opportunity for the company to focus on its telecom business, stated a media release by the company. Sterlite Tech also completed the merger of Elitecore Technologies, a solution provider of Operation Support Service (OSS) and Business Support Service (BSS). According to the company, Elitecore has the capacity to monetise all IP networks that include Cable, 3G/LTE, Wi-Fi, ADSL, FTTH. Sterlite acquired Elitecore in 2015. The merger will now allow strengthening of customer offerings as a single telecom company. Sterlite is ...
TAPI gas pipeline to bridge energy gap between South, Central Asia
The Dollar Business Bureau Work on the much awaited TAPI (Turkmenistan, Afghanistan, Pakistan, and India) gas pipeline has begun with the leaders of all four countries committing to ensure technical and commercial viability of the project. The construction work of the 1,800-km pipeline will be carried out by Turkmenistan’s state-run company Turkmengaz. The project worth $7.6 billion will carry gas from Turkmenistan’s Galkynysh field to Pakistan and India via Afghanistan. On Sunday, Indian Vice President Hamid Ansari, Pakistan Prime Minister Nawaz Sharif, Afghan President Ashraf Ghani and Turkmenistan President Gurbanguly Berdimuhamedow pushed the start button of the project. Speaking at the ground-breaking ceremony in Mary—the ancient city of Turkmenistan, Ansari said that the launch of the gas pipeline project marks the ...
GoI for private sector participation in power transmission schemes
The Dollar Business Bureau The Ministry of Power, Government of India, on Wednesday, informed about the Government of India’s move to encourage the private sector participation in boosting the power sector of the country. With a view to encourage and allow participation of private sector in building the power transmission capacity in India, the Government of India notified 14 power transmission schemes worth Rs 33,900 crore during 2014-15 period, said the Ministry of Power, in its latest release. These schemes will facilitate ways for the transfer of power from new Hydro electric projects in Bhutan and the generation linked projects in Chhattisgarh and Odisha, among others. These projects include 765 KV and 400 kV transmission system strengthening schemes/programmes in the ...
Government rides high on road and highway projects
The Dollar Business Bureau In a move towards development of road and highway infrastructure in the country, the Government of India is mulling to raise road projects worth over Rs 3 lakh crore this year and is also keen on more than doubling highway construction to 30 km per day. An information in this regard was said to have been given by Nitin Gadkari, Union Minster of Roads & Highways, Government of India, on Wednesday. The Minister further informed that the innovative funding plans are being mulled to raise over Rs 3 lakh crore, in order to give a fillip to the road sector of India. Stating that the pace of road construction was 2 km per day when the ...
