Project News Details
Cabinet approves formation of Joint Venture Companies with various State Governments for rail infrastructure projects
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved the formation of Joint Venture Companies with various State Governments to mobilize resources for undertaking various rail infrastructure projects in the States. The initial paid up capital of Ministry of Railways would be limited to Rs. 50 crore for each State.
The details of Joint Venture are as follows:-
1. Joint Venture Companies would be formed with equity participation of Ministry of Railways and concerned State Government(s).
2. Each Joint Venture would have an initial paid up Capital of Rs. 100crore based on the quantum of projects to be undertaken. Further infusion of fund/equity for the purpose of the projects shall be done after approval of the project and its funding at the level of appropriate competent authority.
3. Joint Venture can also form project specific SPVs with equity holding by other stakeholders like Banks, ports, public sector undertakings, mining companies, etc.
This would ensure greater participation of State Governments in implementation of railway projects both in terms of financial participation as well as decision making process. This will also facilitate in faster statutory approvals and land acquisition.Besides travelling people, various cement, steel, power plants etc. would get the necessary rail link for transportation of their raw material and finished products.
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.