Monday, June 21, 2021

Table of Contents for Ticker Tape





International

Kalpataru Power Transmission bags orders worth Rs.1,554 cr

Kalpataru Power Transmission Ltd (KPTL) has won orders worth Rs.1,554 crore. The orders include those from India, CIS and Latin America in the power transmission business, Besides, KPTL’s international subsidiary has secured new power transmission projects in Europe. KPTL is a specialized engineering, procurement, construction (EPC) company in India engaged in power transmission and distribution, oil & gas pipeline, railways, infrastructure development, civil contracting and warehousing & logistics business. The company is currently executing several contracts in India, Africa, the Middle East, CIS, SAARC nations.

 

 

India likely to start full operations at Iran’s Chabahar port by May end

India expects to start full-scale operations at Iran’s Chabahar general cargo port it has built by the end of May.

India has been developing a part of the port on Iran’s south-eastern coast along the Gulf of Oman as a way to transport goods to Iran, but also Afghanistan and central Asian countries, and avoiding rival Pakistan.

But U.S. sanctions on Iran slowed down the port’s development and Indian officials are now counting on a thaw in relations between Washington and Tehran under President Joe Biden to move forward with near $500 million of investments. India is developing two terminals at the port including the Shahid Beheshti complex and under an agreement signed with the Iran, it would run the terminal for 10 years. Chabahar port had handled 123 vessels and 1.8 million tonnes of bulk and general cargoes from February 2019 to January 2021. As part of the agreement with Iran, India would provide six cranes and other equipment worth $85 million to equip and operationailse the Shahid Beheshti terminal.

So far, India has supplied two of these Mobile Harbour Cranes (MHC) and four others will be delivered over the next few weeks.

India also plans to set up an around 600 km railway line from Chabahar port to Zahedan, the provincial capital of Sistan-Baluchestan in Iran close to the Afghan border, at a cost of $1.6 billion to facilitate the movement of goods to Afghanistan.

The INSTC project, proposed by India, Russia and Iran in 2000, and later supported by 10 other central Asian countries, envisions a 7,200 km-long multi-mode network of ship, rail and road for freight transport, aiming to cut carriage costs by about 30% and transit time from 40 days to about 20 days.

 

 

Lemon Tree Hotels signs new hotel in Biratnagar in Nepal

Lemon Tree Hotels Limited announced its latest international signing~ a Lemon Tree Premier in Biratnagar in Nepal. The hotel shall be operated through its subsidiary and management arm, Carnation Hotels Pvt. Ltd. This hotel, owned by Nepal International Hospitality Pvt Ltd, is expected to open in January 2023.Biratnagar is a metropolitan city in Province 1 in Nepal. It is located 400 km east of the capital, Kathmandu, 175 km south of Mount Everest, the highest peak in the world, and just 6 km north of the bordering town of Jogbani in the Indian state of Bihar. Its strategic location serves as an entry point to eastern Nepal as well as north-eastern India, Considered to be the industrial capital of Nepal, the city is home to the Biratnagar Jute Mills, the country’s first large-scale industry, as well as the birthplace of five prime ministers of Nepal. Located in the capital city of Province No. 1, this premier property will feature 80 well-appointed rooms and suites, complemented by a multi-cuisine restaurant, a bar, and a specialty pan-Asian restaurant. It will also have meeting and event spaces, and premium recreational facilities, including a spa, swimming pool and fitness center.

 

 

JMC Projects bags order worth Rs.1,000 crore from Maldives’ Fahi Dhiriulhun Corporation

JMC Projects (India) Limited (JMC), India’s leading Civil Engineering and EPC Company has signed an agreement with Fahi Dhiriulhun Corporation Limited (FDC), a state-owned company of the Government of the Republic of the Maldives, for the design, finance and construction of 2,000 social housing units in Hulhumale Island of Maldives.

The total value for this project is estimated to be around USO 137 Million (~Rs.1,000 Crores) and is planned to be financed via a loan from multilateral funding agency. The financial closure of the project is expected to conclude soon and construction on the project will commence after the financial closure.

 

 

Philippines invites Indian firms to explore investment opportunities in infra sector

The Philippines has invited Indian companies to explore investment opportunities in infrastructure sector such as railways, airports, shipbuilding and ports with an aim to enhance economic cooperation. The opportunities were showcased by the Philippines during a business conference on India-Philippines Infrastructure Cooperation, which was recently.

The event was jointly organised by the Confederation of Industry (CII) and Philippine Chamber of Commerce and Industry (PCCI) in coordination with the Embassy of India in the Philippines.




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