Project News Details
India Signs Legal Agreement with the World Bank for IBRD Loan of US$ 4oo Million for Tamilnadu Sustainable Urban Development Project
The Loan and Project Agreements for World Bank (IBRD) assistance of US$ 400 million for Tamil Nadu Sustainable Urban Development Project were signed between the Government of India/ Government of Tamil Nadu and World Bank here yesterday.
The Loan Agreement was signed by Shri Raj Kumar, Joint Secretary, Department of Economic Affairs, Ministry of Finance on behalf of Government of lndia and Mr. Onno Ruhl, Country Director, World Bank (lndia) on behalf of the World Bank. The Project Agreements were signed by Shri Praveen P. Nair, Deputy Secretary, Municipal Administration and Water Supply Department, Govt. of Tamil Nadu on behalf of the State Government and Smt. Anita Praveen, Principal Secretary/ Chairperson and Managing Director, Tamil Nadu Urban Infrastructure Financing Services Ltd. (TNUIFSL) on behalf of TNUIFSL and Tamil Nadu Urban Development Fund. Mr.Onno Ruhl signed both Project Agreements on behalf of the World Bank.
The objective of the project is to improve urban services in participating Urban Local Bodies (ULBs) in a financially sustainable manner and to pilot improved urban management practices in selected cities. The total project size is US$ 600 million, out of which World Bank support is US$ 400 million.
The project consists of following three main components:
• Investment in Urban Services. The project will support improvement in range of urban services, including water, sewerage, municipal solid waste, urban transportation, sewerage management and storm water drainage. The project also envisages creation of a reserve fund to provide credit enhancements for municipal bonds and other market based Loan instruments issued by ULBs.
• Result Based Grants for Urban Governance: The project will provide results-based grants to eligible ULBs to implement new urban-management models that strengthen governance and financial sustainability.
• Urban Sector Technical Assistance: The project will support strengthening the capacity of ULBs and urban sector officials.
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.