10 July 2020

Table of Contents for Ticker Tape

Ticker Tape International

Race for Chabahar port terminal


Three Indian firms are short-listed by India Ports Global Ltd to Manage, Operate, and Maintain (MOM), multi-purpose terminals at Chabahar port in Iran; these include Adani Ports, Special Economic Zone Ltd (APSEZ), JM Baxi Group, and JSW Infrastructure Ltd. A 60:40 joint venture between Jawaharlal Port Trust and Deendayal Port Trust (previously Kandla Port Trust), India Ports Global had inked a deal with Aria Banader Iranian Port to operate multi-purpose terminals at Shahid Beheshti – Chabahar Port Phase I – at a capital investment of $ 85.21 million and an annual revenue expenditure of $22.95 million on a 10-year lease. India Ports Global will select a strategic private partner to MOM Chabahar’s multi-purpose terminals for 10 years, and pay a fixed management fee and a variable management fee, an L1 bidder will win the deal. The MOM partner will join via a special purpose vehicle (SPV) in Iran with a local private partner. This SPV will take a 10 per cent stake in a separate SPV floated by IGPL in Iran to run Chabahar port.


MOM partner will be finalised by March, 2018, according to Shipping Ministry.




GMR L1 for Clark International Airport project

The GMR with partner Philippines-based Megawide Construction Corporation, emerged L1 bidder for $ 250 million Clark International Airport project in Philippines. Developed by Government of Philippines as hybrid model with EPC and O&M tenders issued separately, project scope involves design, construction, testing and commissioning of a new terminal. The consortium will construct the integrated terminal along with specified landside facilities. The Consortium expects to receive the Notice of Award soon. The $ 250 million project is scheduled for completion 2020, according to Department of Transportation (DOTr) and the Bases Conversion and Development Authority (BCDA) of Philippines.




Sterlite Power bags major T&D project in Brazil


Sterlite Power has bagged a contract worth $800 million to construct 1800 km transmission project in Brazilian states of Parnd Tocantins. The project is part of Brazil’s North-Southeast and North-Northeast inter-connections, critical for power evacuation from Belo Monte Hydroelectric Power Plant, third largest hydro power plant globally. With this project and two other projects won earlier, Sterlite has reached a billion dollar investment,  largest ever by an Indian company in Latin America.



SSW bags $2.5 mn export order


Steel Strips Wheels has bagged a new export order worth $2.5 million from Egypt for truck wheels. The total order size is 32,000 wheels, which would be dispatched from its new plant in Chennai from January 2018. This order strengthens SSWL’s presence in the high-potential truck & trailer segment. The company is also in touch with other large trailer-makers in the EU and the US and expects to get more orders in this segment in the near future.





RInfra bags major B’desh EPC projects


Reliance Infrastructure Ltd (RInfra), a part of Reliance ADAG, has bagged two prestigious EPC contracts in Bangladesh, together valued at Rs.5,000 crore, to set up infrastructure of a 750 MW LNG-based combined cycle power plant at Meghnaghat (Dhaka), second project is for building a 500 MMSCFD floating storage regasification unit (FSRU) based integrated LNG terminal project at Kutubdia Island, both in Bangladesh. Both contracts entail design, engineering, supply, transportation, erection, testing, and commissioning processes. The LNG terminal project includes setting up jetty and onshore and offshore gas pipelines. Both contracts are to be executed in 24 months, by 2019.





SSWL receives another Export Order from BMW, Germany


Steel Strips Wheels Ltd has received an export order from BMW, Germany. The order is for supply of 46,000 steel wheels to BMW’s Leipzig from SSWL’s Chennai Plant from next financial year. SSWL has maintained a strong business relationship with BMW for the past eight years and the present order would help strengthen SSWL in the challenging EU steel wheels market.




Kridhan Infra Bags Rs.255 Cr New Order in Singapore


KH Foges Pte Ltd a subsidiary of Kridhan Infra Ltd, a Mumbai - headquartered infrastructure solutions company has recently secured two new Foundation Engineering contracts worth Rs.255 crore.  These contracts have been awarded by direct and indirect entities of Government of Singapore and the contract period for these projects are 1 year.


Kridhan Infra has evolved into a leading EPC company in Singapore through the acquisition of Swee Hong Ltd. The company has a strong foothold in the geotechnical and foundation engineering space and is the 2nd largest foundation engineering player in Singapore.





NTPC bags order  to supply 300 MW electricity to Bangladesh


NTPC India's biggest electricity producer has won a tender to supply 300 megawatts (MW) of electricity to Bangladesh for 15 years. Bangladesh Power Development Board (BPDB) had invited tenders for supply of 500 MW power from India for short term (June 1, 2018 to December 31, 2019) and long term (January 1, 2020 to May 31, 2033). Vidyut Vyapar Nigam (NVVN), Adani Group, PTC and Singapore-bases Sembcorp submitted bids by the scheduled date NVVN, wholly-owned subsidiary of NTPC Limited, emerged as successful bidder (L1), both in short term and long term for 300 MW power. Without giving details of the rate at which power will be supplied, NTPC said supply of electricity is likely to commence from June 2018 after commissioning of 500 MW HVDC inter-connection project between India and Bangladesh.





GMR buys out Malaysian firm's stake in Hyderabad airport


GMR Airports, an arm of the GMR Group, has entered into an agreement with Malaysia Airports Holding to acquire the 11 per cent stake that the Malaysian firm holds in GMR Hyderabad International Airport for USD 76 million or around Rs.484 crore. GMR will acquire 4.15 crore shares which converts into 11 per cent in the airport company from Malaysia Airports Holding and its Mauritius subsidiary, subject to approvals. GMR Hyderabad airport is a special purpose vehicle, and run the Rajiv Gandhi International Airport in the city. GMR Airports currently holds 63 per cent stake and post-acquisition this will rise to 74 per cent. of the remaining stake, 13 per cent in held by the Airports Authority of India and the rest 11 per cent by the Telangana government. According to understanding between the two parties, the price is based on the assumption that the transaction takes place on or before December 1, 2018.




Ramky Enviro bags contracts in Middle East, Southeast Asia


Ramky Enviro Engineers, one of India's largest waste management firms has secured several large contracts in Southeast Asia and the Middle East, Ramky Enviro Engineers Middle East, got a seven-year, Rs.600-crore contract of municipal solid-waste transportation and disposal project in North Muscat of Oman as part of a consortium. It has bagged another contract to construct an integrated waste management and recycling complex in Yenbu, Saudi Arabia, and a material recovery facility at the Jebel Ali Free Zone in the UAE. Yet another contract  received in the Middle East was construction of an integrated hazardous and biomedical waste management facility in Abu Dhabi. The firm also won contracts in Doha, Jordan, Singapore and Bangladesh.





Gammon Construction secures contracts worth $984m


Gammon Construction, a joint venture between Balfour Beatty and Jardine Matheson Holdings, has secured two contracts with a combined value of HKD7.7bn ($984m). The firm won a contract worth HKD6.2bn ($793m) from the Highways Department, HKSAR to build the Kai Tak West Section of the Central Kowloon Route in Hong Kong.


The scope of the work involves the construction of a 370m-long underwater tunnel and the associated temporary reclamation in Kowloon Bay of about three hectares, a 160m-long cut and cover tunnel in Ma Tau Kok as well as a 125m-long depressed road and 170m-long underpass in Kai Tak Development. The contract form part of the overall Central Kowloon Route, a 4.7km-long dual three-lane strategic trunk road in Central Kowloon. Work on the project is due to start in January 2018 and is expected to be completed by 2025. The project will create 400 jobs during its peak construction period. Additionally, Gammon secured an HKD1.5bn ($191.8m) contract from the West Kowloon Cultural District Authority (WKCDA) in Hong Kong to deliver infrastructure works for Lyric Theatre Complex in West Kowloon Cultural District. The scope of the work involves excavation and lateral support followed by construction of a two-level reinforced concrete structure, along with public infrastructure works including drainage, a traffic lay-by and associated temporary works. The latest order represents company’s third contract from the WKCDA. Currently, it is delivering foundation works for the theatre.Work on the project is set to begin in early 2018 and is anticipated to be completed by mid-2020. The project will create 450 jobs during its peak construction period.




Far Eastern Natural Resources bags mining license


Far Eastern Natural Resources LLC, (Russian subsidiary of Tata Group firm Tata Power Co), bagged a mining license of a thermal coal mine in Kamchatka province, Far East Russia. The license is valued at approximately $ 4.7 million. An SEZ qualified for various sops, Kamchatka project site has high quality thermal coal reserves of over 380 million tonnes, and the company intends it for captive consumption for its facilities in Mundra and Trombay, and also sell some of its output in Far East Asian markets, it has also received consents on transfer-pricing issues. The company intends to carry out detailed exploration to enable it to formulate a mining plan and work out capex outlook to implement the project in a phased manner to reach a stable throughput of 8 to 10 million ton per annum.


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