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 ...
Comm Min to soon approach Cabinet for NICDA
The Dollar Business Bureau The Commerce and Industry Ministry is likely to approach the Cabinet recommending the setup of the National Industrial Corridor Development Authority, which will ease the process to set up industrial corridors. Ramesh Abhishek, Secretary in the Department of Industrial Policy and Promotion, revealed that the authority will have different verticals which will look into the proposals of industrial corridors. The functions of the authority will be to sanction and appraise projects, conduct project development activities, implement and coordinate the Centre’s efforts and objectives for industrial corridors. Abhishek further shed the light on the progress made for different industrial corridors in India. About 8,000 cr worth projects were approved in the Delhi-Mumbai corridor. The works for other four industrial corridors, including Visakhapatnam-Chennai ...
CONCOR starts new weekly train between Krishnapatnam Port and ICD Whitefield
Sisir Pradhan | The Dollar Business Container Corporation of India (CONCOR) has started a new train weekly service between Krishnapatnam Port Container Terminal (KPCT) and Inland Container Depot (ICD) at Whitefield in Bengaluru. The new freight train service started its maiden run on June 19, 2015 with a full load of import laden containers belonging to traders in Bengaluru city region. Given the fact that due to bad road connectivity and limited rail service to Mangalore Port, majority of importers and exporters in the region prefer other ports like Chennai, Kochi, Krishnapatnam and even Tuticorin. The new weekly rail service will help more efficient and faster transit of containers between the ICD and the port. Due to the new service traders ...
India-Lanka discuss FTAs, investments for enhanced trade
Sai Nikesh | The Dollar Business India and Sri Lanka on Thursday, discussed various economic issues towards addressing trade imbalance and enhancement of economic cooperation between the two countries. In a Commerce Secretary level interaction that was held as a third round of discussion, followed by the one in June 2013 in Colombo and the other in January 2014, both the sides discussed key issues like India-Sri Lanka Free Trade Agreement (FTA), non-tariff barriers, upgrading of economic engagement including investments and services, among others related to bilateral trade. Both the sides also agreed upon the expansion of bilateral trade by utilizing the optimal opportunities and resources available with the two economies. The Indian side reiterated its commitment saying the ...
