Wednesday, October 5, 2022

Ticker Tape - International

Rail Vikas Nigam Ltd enters into MoU for railway projects in Kyrgyzstan

Rail Vikas Nigam Ltd has entered into an MoU with Economic Policy Research Institute, Ministry of Economy and Finance of KYRGYZ Republic, Bishkek, KYRGYZSTAN for development of Railway corridor projects n Kyrgyz Republic specially to connect from Bishkek to Karakechenskoye.

 

 

 

IRCON emerges lowest bidder for Sri Lanka, Bangladesh railway projects

IRCON International Limited has emerged as the lowest bidder in Railway signalling projects floated by the Ministry of Transport Services Management, Sri Lanka for Design, Installation, Testing and Commissioning of Signalling System from Maho Junction to Anuradhapura, Sri Lanka under the Indian Line of Credit. The value of the project is approx. $15.5 million equivalent to Rs.114 cr. The completion period of the project is approx. one year.

The company has emerged as the lowest bidder also in Railway signalling projects floated by the Ministry of Railways, Bangladesh for the construction of Non-Interlocked colour light Signalling System for all (09) stations including Construction of Telecommunication System with Optical Fibre in connection with Construction of Khulna-Mongla Port Rail Line Project. The value of the project is approx. BDT 28cr equivalent to Rs.24 cr. The completion period of the project is approx. six months.

 

 

 

India’s CARS24 seals one of Dubai’s biggest deals ever for commercial property for Dh40m+

The boost in Dubai’s real estate sector is now extending beyond residential, with one of the biggest deals signed for commercial property in recent times.

The India pre-owned car buying and selling platform, CARS24, has leased a 1 million square feet facility in Jebel Ali for a contract value of Dh40 million plus. The consultancy Knight Frank helped in the transaction.

CARS24, which is currently valued at $2 billion plus, entered the UAE market earlier this year, with the promise of taking the auto buying and selling process completely online. The company does carry an inventory of used cars, and this is where the new Jebel Ali facility has its uses.

 

 

 

Tata Projects bags transmission project in Bangladesh

TATA Projects has forayed into Bangladesh’s Transmission & Distribution sector by securing a 400 KV double circuit transmission line project valued at approximately Rs.900 crore from Power Grid Company of Bangladesh Limited (PGCB).This 120-km length project from Barapukuria to Bogura has been secured on turnkey basis. The project will be executed in 30-months and funding shall be done by EXIM Bank India under Indian Line of Credit, it added.

The transmission line shall result in expansion of high voltage transmission infrastructure in the northern parts of Bangladesh. It will also facilitate 1600 MW power transmission from Power Plant based in Jharkhand to Bangladesh, the statement added.

 

 

GMR announced as the winning bidder for development and operation of Kualanamu International Airport in Medan, Indonesia

GMR Airports Limited (GAL), a subsidiary of GMR Infrastructure Limited is the winning bidder for the development and operation of Kualanamu International Airport in Medan, Indonesia (“Medan Airport”).

In a communication addressed to GMR Airports Consortium Team, Angkasa Pura 2 (AP2), the state owned enterprise and the bidding authority for the Medan Airport has informed that they have completed the best and final evaluation process for selection of strategic partnership for the Medan Airport and have announced GMR Airports as the Winning Bidder. It may be noted that GMR Airports Limited and its wholly owned subsidiary, GMR Airports International B.V had bid for the project as consortium.

Medan is the 4th largest urban area in the country and is capital of North Sumatra province. GMR will enter into 49:51 partnership with AP2 for this project. The consortium will transform Kualanamu International Airport into Western International hub of Indonesia.

The airport handled more than 10 million passengers in 2018. The project scope includes operation, development and expansion of the airport over a period of 25 years. Kualanamu International Airport is an operating Airport with healthy cash flows. GMR Airports won the bid for this high growth potential brownfield Airport, through a closely contested international competitive bid process and will partner with Angkasa Pura 2 (AP2). The letter of award is expected to be issued in next few days, post bid formalities, while signing of project agreements before end of the year.

 

 

 

ADB approves $250 million loan for India’s industrial corridor development

The Asian Development Bank (ADB) has approved a $250 million (about Rs.1,875 crore) loan to support India’s National Industrial Corridor Development Program (NICDP). This is the first subprogram of the programmatic $500 million loan to develop 11 industrial corridors spanning 17 states. NICDP aims to develop world-class industrial nodes that are supported by efficient urban agglomerations and multimodal connectivity, including international gateways like ports and airports and inclusive, climate-resilient, and sustainable infrastructure. The national programme also seeks strong institutional and regulatory frameworks. ADB said the first subprogram loan will help government initiatives strengthen institutional framework and capacity development for industrial corridor planning, improve project readiness, facilitate ease of doing business, and thereby create opportunities for domestic and foreign investors. ADB’s assistance complements the government’s ambitious reform agenda to strengthen industrial infrastructure and support the country to boost the competitiveness of its manufacturing sector, increase the share of manufacturing in the gross domestic product, and generate a high level of formal employment.  India recently upgraded its Industrial Park Rating System (IPRS) to boost industrial infrastructure competitiveness and support policies to enable industrialisation across the country. As part of NICDP, it is also developing guidelines for green corridor frameworks and climate-resilient infrastructure as well as focusing on enhancing skills for the participation of female labour.

 




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