Project News Details
Infrastructure is key to growth of economy: FM
The Union Finance Minister Arun Jaitley said that infrastructure is key to growth of economy. Jaitley added that an institutionalized forum amongst BRICS countries could serve as a regional knowledge hub with exchange of information facilitated through cloud sharing, and other electronic methods. Shri Jaitley said that projects in transportation sector like Highways, Ports and Railways will be area of mega economic activities as far as infrastructure sector in India is concerned. The Finance Ministery Shri Jaitley further said that investment, both from public and private sector, will be required for infrasturucture financing, especially in areas of health, education, sanitation, renewable energy, highways, ports and railways among others. The Finance Minister was delivering the Inaugural Address after inaugurating the BRICS India 2016 seminar on “BRICS Seminar on Best Practices in Public Private Partnerships (PPPs) and Long-term Infrastructure Financing” in the national capital here today.
The Union Finance Minister Arun Jaitley outlined the strategy the Government has adopted to boost the Indian Economy like Make in India, 100 smart cities, and liberalised FDI regime. He said that the Government gives high priority to Infrastructure and have taken a number of policy decisions like NIIF, Innovative new financial instruments such as REITS, INVITS, IDFs. He stressed the need for BRICS member countries to share their experiences in financing and delivery of infra projects so that they can collectively move to higher quality and efficiency in the delivery of public services.
Earlier in his welcome address, Secretary, Department of Economic Affairs, Shaktikanta Das said that infrastructure financing, especially in clearly demarketed projects is the need of the hour.
He said that National Investment and Infrastructure Fund (NIIF) will play a pivotal role especially in infrastructure financing of projects in areas of ports, highways and railways in particular. The Seminar brought together experts from BRICS countries in the field of infrastructure development and financing and PPPs for exchange of best practices, experiences and expertise.
The technical sessions covered the areas of Regulatory Issues and Financing of Infrastructure; Innovative Investment Vehicles for Long-Term Infrastructure Investment, PPP Project Delivery and Post award Contract management. Government is also proposing Public Contracts (Resolution of Disputes) Bill, Guidelines for remediating PPP Contracts, New Credit Rating system, Credit Enhancement for Infrastructure projects etc.
Punj Lloyd wins Haldia Refinery EPCC Package from IOC
Diversified global conglomerate, Punj Lloyd has announced receiving a lump-sum turnkey contract for the EPCC Package 2 at Haldia Refinery, West Bengal from Indian Oil Corporation Ltd (IOCL) for a value of Rs 1094 crore.
The scope of work for the project involves the Residual Process Design, Detailed Engineering including HAZOP study, engineering, procurement, construction and commissioning of the Sulphur Block comprising the Sulphur Refinery Unit (SRU), Amine Regeneration Unit (ARU), the Sou...
L&T Bags 1700 Cr. International EPC Order for 400 MW Gas Based Power Plant in Bangladesh
Larsen & Toubro (L&T) has received an order valued at around 1700 Crores from Marubeni Corporation, Japan, for setting up the Bibiyana III 400 MW Combined Cycle Power Plant Project of Bangladesh Power Development Board (BPDB).
BPDB awarded the EPC contract for setting up the 400 MW gas based power plant project to Marubeni Corporation of Japan, which in turn awarded the EPC sub-contract to L&T on turnkey basis. This plant will be located at Nabiganj Upzila in H...
IOC Planning Petrochemical Plant in Iran
As per the reports in the media, Indian Oil Corp. (IOC) is planning to build USD 3 billion petrochemicals plant in Iran which will have access to cheap natural gas as its feedstock.
India is planning investments in energy infrastructure in Iran. This includes ports and upstream gas production.
IOC is looking at petrochemicals to drive growth. The company is planning an investment of around USD 4.5 billion in coming years to expand its business.