27 February 2020

Table of Contents for Ticker Tapes





International

INDIA-RUSSIA SIGN NPP CONTRACTS

Pursuant to summit talks between PM Modi and Russian President Putin last month, both nations have signed three contracts for constructing Units 5 and 6 of Kudankulam Nuclear Power Plant (NPP). Contracts were signed between ASE Group of Companies (of ROSATOM State Atomic Energy Corporation) and Nuclear Power Corporation of India (NPCIL), to supply equipment with a long manufacturing cycle, design works, and supply of working documentation. Construction of Units 5 and 6 of Kudankulam NPP is at the implementation stage. An intergovernmental credit protocol was also signed under which Russia will extend credit for delivery of equipment, and working documentation to construct the NPP third stage. An approval for three key contracts was obtained from the Rosatom State Corporation, the RF Ministry of Economic Development and the Ministry of Finance. Thereafter the NPCIL Board of Directors approved signing of the three contracts.

 

 

 

IIML’s BILLION $ PE

In a major development, IL&FS Investment Managers Ltd is building up  a $1-billion infrastructure fund from pension funds in South Korea and Japan, to invest in Indian infra companies which build power plants, logistics infrastructure, and set up waste management businesses. In fact the fund has got commitments from South Korean and Japanese pension funds, and IL&FS is looking at closing the proposed infrastructure fund at higher levels.  IIML is the private equity arm focused on infrastructure development and financial services within the IL&FS Group. Due to excess leverage in the infra sector, there is a need to recapitalise infrastructure developers so as to enable them to regain the investment appetite. The fund will focus on logistic companies that got a booster shot from the recent GST rollout.

 

 

L&T TO BUILD MAURITIUS METRO

Global EPC major Larsen & Toubro has bagged a Rs.3,375 crore metro rail rail project from Metro Express Limited owned by the Government of Mauritius, to for design and build an Integrated Light Rail-based Urban Transit System in the island country. The project comprises a 26-km metro line with 19 stations, including construction of viaducts and bridges, track works, DC electric traction systems, ticketing and passenger information systems, and integration with road traffic through advanced signalling systems, procurement of rolling stock from world majors in LRT (Light Rail Transit), and construction of depots along with maintenance equipment. Scheduled to be completed in 48 months, it will be fully funded through a Government of India Grant and Line of Credit.

 

 

 

LULU GROUP PLANS VIZAG PROJECTS

To fill up the infra deficit of India’s second largest port city Visakhapatnam, the State government is planning three major projects there - a world-class convention centre, a five star hotel and a multiplex - on the beach road in the Harbour Park area.  It is currently in talks with the Lulu Group for these projects, which will be executed in three phases in the PPP mode, involving a total investment of over Rs.700 crores over three years. Infrastructure Corporation of Andhra Pradesh (INCAP) has already issued two notifications to seek expression of interest from prospective developers to take up the project. The project will be taken up in the public-private partnership model. AP Industrial Infrastructure Corporation at present has 10.65 acres.

 

 

 

BIRD GROUP ‘S OVERSEAS EXPANSION

India’s Bird Group, which owns the Roseate Hotels and Resorts chain, has said it is planning to expand across Europe and the Middle East after completing the acquisition of a new boutique hotel in the UK. Villa at Henrietta Park in the historic city of Bath in south-west England, which has been rebranded as The Roseate Villa, became the third UK property to be acquired by the New Delhi-based group after The Royal Park, a Roseate House Hotel, in London and The Forbury Roseate in Reading, southern England.

 

 

 

DCI BAGS FIRST OVERSEAS CONTRACT

Dredging Corporation of India (DCI)  has bagged a Rs.102 crore contract from Bangladesh for dredging the Pussur Channel. The contract has been awarded by the Mongla Port Authority and involves dredging around 3.88 million cubic meters over the next 15 months,  according to DCI.

This is the first international contract bagged by DCI through an open global tender. DCI has planned to commence the dredging work by September.




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