15 October 2019

Table of Contents for Ticker Tapes





Infrastructure

CPCL MULLS 9 MT REFINERY IN TN

The standalone refinery of Indian Oil Corporation which is the Chennai Petroleum Corporation is considering feasibility of setting up a nine- million-tonne-a-year refinery in south Tamil Nadu. The company intends to establish a nine-million-tonne refinery in the place of its existing one million tonne refinery in the Cauvery Basin. The investment required could involve up to Rs. 2,500 crore for every million tonne of capacity. For quarter ended June 30, 2016, the company has reported a net profit of Rs. 469.80 crore on a total income of Rs. 9,781.38 crore.

 

PROJECTS WORTH Rs.20 LAKH CRORE SET TO GET GREEN LIGHT FROM KEY PMO GROUP

The Project Monitoring Group (PMG) that works under the Prime Minister's Office has cleared 276 projects, stalled due to various reasons and accounting for investment worth Rs. 20 lakh crore for more than 500 projects. Bulk of the projects comprises of roads, coal, power and railways while land and environment issues accounted for the majority of clearance hurdles. PMG works on a web platform designed for investors facing clearance issues acts as a central data platform. Each project is assigned a unique ID and the hurdles a project faces are flagged.

 

PACE OF RURAL ROADS’ CONSTRUCTION INCREASES TO 139KM/DAY

The construction pace of roads built under the flagship scheme of PMGSY has increased to 139 km per day. While the construction speed was 139 km in the first five months, 133 km will be constructed per day under the PMGSY in 2016-17. The programme envisages connecting all habitations with a population of 500 people and above as per 2001 census in plain areas and 250 people and above as per 2001 census in special category states of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, Jammu and Kashmir and Uttarakhand. The government has also launched the second phase of PMGSY-II which envisages consolidation of the existing rural road network to improve its overall efficiency.

 

INDIAN OIL PARADIP PLANT TO START MAKING GASOLINE BY END OF YEAR

IOC started the 300,000 barrels per day (bpd) Paradip refinery in late 2015 and has a continuous catalytic reformer (CCR) which turns naphtha into gasoline. IOC exports naphtha from Chennai, Dahej, Kandla and Paradip at present. India has been exporting slightly more naphtha this year compared to last. IOC has no plans to export the fuel due to strong domestic demand, especially with the country moving to a lower sulphur grade of the fuel.

The Paradip refinery, which can produce over 2 million tonnes of gasoline a year when operating at full capacity, was designed to produce Euro IV- and Euro V-compliant fuels.

 

NAGALAND GETS Rs.340 CRORE FOR ROAD PROJECTS

The Centre has sanctioned Rs. 340 crore for Dimapur-Chumukedima and Kohima Check Gate to Lerie Highway. Kohima has been selected for the Smart City project. The state presently has a Bench of the Guwahati High Court. The Central Government has sanctioned Rs. 340 crore two road projects for Nagaland and also assured the state government to set up a separate High Court for the state.

 

GOVT APPROVES Rs.2,600-CRORE HIGHWAY PROJECTS ACROSS FIVE STATES

Government approved nine highway projects in five states to be executed at a cost of Rs. 2,600 crore.  These are in Telangana, Andhra Pradesh, Karnataka, Nagaland and Uttar Pradesh. These include upgradation of 49 km stretch of Allahabad-Mirzapur section of NH 76 at a cost of Rs. 241 crore, construction of two-lane Pilibhit-Puranpur on NH 730 at Rs. 177 crore and upgradation of Banda-Allahabad of NH 76 at Rs. 219 crore. The two projects in Karnataka cover widening of Chittapur cross to the start of Yadgir bypass of NH 150 at a cost of Rs. 315 crore and widening of Maharashtra border to Bidar section on NH 50 for Rs. 397 crore.

 

GOVERNMENT TO BUILD 35,000KM HIGHWAY NETWORK

Government may soon come up with an ambitious Rs. 3 lakh crore Economic Corridor project to develop 35,000 km of highways. The project is aimed at faster movement of cargo and would not only under developing economic corridors with a length of about 21,000 km but also developing 14,000 km of feeder routes, i.e. providing connectivity to logistic hubs. This is the second largest project in the sector after the flagship road building programme of NHDP which saw development of 50,000 km of National Highways network as per global standards including the Golden Quadrilateral project. The Golden Quadrilateral project aims at connecting all four metropolises and North-South Corridor connecting Srinagar to Kayakumari and East-West Corridor joining Porbandar to Silchar.

 




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