Page 64 - January_2023

INFRASTRUCTURE National Investment and Infrastructure Fund Limited (NIIFL) Ircon International Limited (IRCON), a Miniratna (Category-I)
TICKER TAPE
NIIFL TO COLLABORATE WITH GOVERNMENT OF TAMIL
IRCON HAS ACHIEVED BREAKTHROUGH OF THE ESCAPE
TUNNEL IN J&K
NADU TO DEVELOP INVESTIBLE PPP INFRASTRUCTURE
PROJECTS
Schedule -A, Public Sector Enterprises, has completed significant
announced the signing of a Memorandum of Understanding
milestone in T-49 of the USBRL line in Jammu & Kashmir with
(MoU) with Tamil Nadu Infrastructure Development Board (TNIDB)
the excavation breakthrough of the Escape Tunnel on 15th
which outlines the various initiatives on which NIIFL will support
December, 2022. This is the longest railway tunnel of 12.76 km
TNIDB to help attract commercial capital into infrastructure
Station (at 1562m MSL). The difficult geological conditions
opportunities in the state of Tamil Nadu.
NIIFL will support TNIDB in identifying potential private sector in India connecting Sumber Station (at 1418m MSL) & Arpinchala
encountered during the excavation of 1500 m long stretch were
investment opportunities, including for asset recycling and high deformation/squeezing phenomenon causing local minor
developing greenfield and brownfield infrastructure projects in collapses, support damage etc., The Tunnel was excavated in the
sectors such as renewable energy, roads, waste management, most difficult and challenging formations of the Himalayan range
water, tourism and other related sectors with the objective of comprising essentially of tectonized metamorphic formations of
catalysing capital into the state. 7 projects have been identified carbonaceous phyllites, quartzitic phyllites and gneiss, under a
across departments which have the potential to attract private maximum overburden of 1000 meters. This tunnel will be equipped
investments of approximately `5,000 to 6,000 crore. Work on these with a mechanical longitudinal ventilation system (consisting of
projects has been initiated. jet fans) in the main tunnel. The Escape tunnel will be equipped
NIIFL’s ‘Strategic Initiatives and Policy Advisory’ (SIPA) team provides with air lock system (consisting of jet fans) to keep rescue
high-level strategic advice to Central and State Government passages free from smoke in case of fire. For normal operation
entities. NIIFL through its SIPA team supports the respective the ventilation system of the main tunnel will be controlled by air
departments in project conceptualisation and analysing quality measurement system (CO, NO, NO2 & particles). In case of
project attractiveness for private investments and in structuring fire in main tunnel, the detection system will identify the accident
transactions. NIIFL leverages its experience and expertise in the location and start automatically as per the different fire programs
infrastructure sector as well as its experience of working with private in the tunnel monitoring and control system (SCADA).
capital to support the Government of Tamil Nadu.
Commenting on the partnership, Prasad Gadkari, Executive CHENNAI PETROLEUM AND IOC SIGN JOINT VENTURE
Director and Chief Strategy Officer said, “NIIFL works closely with the DEAL OF `31,580 CRORE
Central and State Governments to bring investable opportunities A joint venture agreement has been signed by Chennai Petroleum
to market. Tamil Nadu has witnessed a manufacturing-led Corporation (CPCL), Indian Oil Corporation Limited (IOCL), and
growth over the last few years. NIIFL has been collaborating with seed equity investors for the future 9 million tonnes per annum
the State Government over the course of the last year on a set (MTPA) refinery and petrochemicals project at Nagapattinam in
of interesting project ideas. This MoU formalises our relationship Tamilnadu. An estimated `31,580 crore would be spent on the
with the Tamil Nadu Government and is in consonance with project. According to a statement from the company, IndianOil
the broader mandate of NIIFL.’’ NIIFL is also working with various and CPCL will each own 25% of the equity investment in the joint
other Central and State Government Ministries on areas such venture company (JVC), making up 50% of the total equity stake.
as healthcare, transport, renewables, urban infrastructure and The remaining 50% of the stock will be held by financial and
new-age manufacturing to evaluate and structure investment strategic investors, who will be named later. The two promoters,
opportunities that can attract private capital and fall within the IndianOil and CPCL, are forming the JVC while waiting for the
national and state economic priorities. financial/strategic investor to join. The refinery complex, which will
cost `31,580 crore, will meet the demand for petroleum products
NTPC COMMISSIONS 162.27 MW OUT OF 230 MW in southern India and help the area’s economy grow. It continued
ETTAYAPURAM SOLAR PV PROJECT that the project would have a significant positive socioeconomic
NTPC Limited has successfully commissioned of the first part impact on both the nation as a whole and, more specifically, the
capacity of 162.27 MW out of the 230 MW Ettayapuram Solar PV State of Tamilnadu. The project would resuit in substantial socio-
Project in Tamil Nadu. The Ettayapuram Solar PV project is declared economic benefit to the country in general, and more specifically
on commercial operation effective from December 10, 2022, to the State of Tamilnadu.
following the commissioning.
As a result, NTPC’s standalone installed and commercial capacity ASHOKA BUILDCON EMERGES L-1 BIDDER FOR
has increased to 57801.27 MW, while its group installed and `1,668.50 CRORE NHAI PROJECT
commercial capacity has increased to 70416.27 MW. Ashoka Buildcon Limited has submitted Bid to National Highway
NTPC is India’s largest energy conglomerate, with roots planted in Authority of India (NHAI) for the Project viz. ‘Request for proposal for
1975 to accelerate India’s power development. Construction of 6 lane Elevated Corridor along with development
NTPC has 9 coal-based, 4 gas-based, 8 hydro-based, and of existing 4 lane road at ground level from Aroor to Thuravoor
5 renewable energy projects under JV. The capacity will use Thekku section of NH - 66 (from Km. 366+330 to Km. 379+082 of
a diverse fuel mix, and non-fossil fuel generation capacity will NH-66) (Length 12.752 Km) under Bharatmala Pariyojana in the
account for nearly 30% of NTPC’s portfolio by 2032. State of Kerala on EPC mode (“Project”).

64 CONSTRUCTION OPPORTUNITIES|JANUARY 2023