Project News Details
Expansion, Modernization and Upgradation Infrastructural Facilities in Shipping Industry
The Expansion, modernization and upgradation of shipping infrastructure in the country is an on-going process to keep the ports abreast with new technologies and also to promote trade and cargo. The Government is committed to provide best possible infrastructure facilities to Indian shipping industry. Cochin Shipyard Limited, a Central Public Sector Enterprise under the administrative control of Ministry of Shipping has a shipbuilding capacity of 1,10,000 DWT and ship-repair capacity of 1,25,000 DWT to cater to the needs of the shipping industry.
In order to support the Indian shipping industry, the Government of India has taken following steps by way of exemptions and relaxation namely:
(i) Exempted Customs and Excise Duty leviable on bunker fuels used in Indian flag vessels for transportation of mix of EXIM, domestic and empty containers between two or more ports in India.
(ii) Uniform abatement of service tax of 70% for transportation of goods by rail, road and sea vessels.
(iii) Indian shipping industry has been provided cargo support through Right of First Refusal (RoFR).
(iv) Parity in taxation of seafarers employed on Indian flag ships vis-a-vis those on foreign flag ships.
(v) Shipping enterprises based in India have been permitted to acquire ships abroad and also flag them in the country of their convenience.
(vi) Issuance of General Trading Licence to Indian flag vessels decentralized. (vii) Registration of ship-repair unit simplified.
This information was given by the Minister of State for Shipping Shri Mansukh L. Madaviya in written reply to a question in Rajya Sabha.
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.