Fairfax Invests in Seven Islands Shipping
Toronto-based investment holding company Fairfax India Holdings Corporation has invested approximately $72.1mln in Seven Islands Shipping Limited, a Mumbai-based liquid seaborne logistics company that has been operating ocean going tankers.The investment was completed through a direct subscription and secondary acquisition of Seven Islands shares. Following completion of the various transactions, Fairfax India owns 41.4% of Seven Islands.Seven Islands will use the proceeds of…
Siemens Gamesa Bags Orders for 176.8MW Wind Projects in India
Siemens Gamesa (SGRE), a renewable energy project developer and an Engineering Procurement Construction (EPC) provider, has won turnkey contract from renewable energy project developer ReNew Power for the development of two wind projects aggregating 176.8 MW in India.One order is for construction of a 100.8 MW wind farm in Gujarat's Kutch district and another for a 76 MW wind farm in Maharashtra's Osmanabad district, according to a statement from the renewable energy firm.As part of the turnkey contract…
Indian Port Rail Corporation to Begin New Railway Line Project
Jawaharlal Nehru Port (JNPT), Ministry of Shipping, Ministry of Railways and state governments of Madhya Pradesh and Maharashtra will enter into a pact tomorrow for implementing a new Indore- Manmad Railway Line Project.The project will be implemented through Indian Port Rail Corporation Limited on joint venture special purpose vehicle (SPV) model."An MoU will be signed tomorrow between JNPT- Ministry of Shipping, Ministry of Railways, Govt of Maharashtra and Govt of Madhya Pradesh for implementation of 362 km Indore- Manmad New Railway Line Project…
India's First FSRU Based LNG Terminal Launched
H-Energy Gateway, the energy venture of Hiranandani Group, launched India’s first Floating Storage Regasification Unit (FSRU) based LNG terminal at JSW Jaigarh Port in Ratnagiri District, Maharashtra. The Jaigarh Port is owned & operated by JSW Infrastructure (the maritime infrastructure development arm of $ 12 billion JSW Group). The LNG terminal was inaugurated today, by the Hon. Chief Minister of Maharashtra, Shri Devendra Fadnavis. H-Energy’s LNG Terminal has an annual capacity…
Indian PM Narendra Modi Lays Foundation Stone For JNPT Fourth Countainer Terminal
India's biggest container traffic handler Jawaharlal Nehru Port (JNPT) has achieved yet another milestone in its ambitious journey to become a world class maritime hub when the Prime Minister Narendra Modi laid the foundation stone for the fourth container terminal, proposed to be developed at an estimated cost of Rs. 7915 Crores (USD 1.23 bln) on DBFOT basis. Modi arrived at the JNPT Helipad- accompanied by the Maharashtra Governor Ch. Vidyasagar Rao, Union Minister of Shipping, Road Transport & Highways Nitin Gadkari, the state Chief Minister Devendra Fadanvis and other dignitaries.
India Develops 14 Economic Zones for Port-led Industrialization
For promoting port-led industrialization, 14 Coastal Economic Zones (CEZs) covering all the Maritime States and Union Territories have been identified as part of the National Perspective Plan under the Sagarmala Programme. The Perspective Plans for all 14 CEZs have been prepared in consultation with relevant State Governments and Central Ministries. The idea behind developing the zones is to promote 'development of port-proximate industrial clusters'. Gujarat, Maharashtra, Karnataka…
Maharashtra to Modernize Ports
The Indian Government has taken steps to expand and modernise the posts in the state of Maharashtra. The Minister of State for Shipping Mansukh L Mandaviya has informed that at present, there are two major ports and 48 minor ports (non-major ports) in Maharashtra. Both the major ports in Maharashtra, Mumbai Port and Jawaharlal Nehru Port are equipped with modern facilities. The infrastructure augmentation & modernization of Major Port is a continual process. Out of the 48 minor ports…
APM Terminals Inland Services Expands in Pune, India
APM Terminals Inland Services inaugurated its new state-of-the-art Inland Container Depot and supply chain solutions facility designed to serve one of India’s fastest-growing hubs for industrial development and manufacturing in the Pune district in Maharashtra state. The new facility, which is over 12 acres in area, can handle more than 60,000 containers annually. Services include Customs clearance, bonded and non-bonded warehousing, empty container acceptance, transportation…
Financial Support for Coastal Berths in India
The Ministry of Shipping in India has taken up projects worth Rs 2,302 crore (USD 356million) for financial assistance under the Coastal Berth Scheme of the flagship Sagarmala Programme. The Ministry, after due appraisal in consultation with NITI Aayog and Department of Expenditure, has extended the period of the scheme for three years, upto 31st March, 2020 and expanded its scope to cover capital dredging at Major Ports and preparation of DPR for coastal berth project, in Oct 2017.
H-Energy to Start West Coast LNG Terminal in May 2018
India's H-Energy Pvt Ltd, a unit of real estate group Hiranandani, will start operations at its liquefied natural gas (LNG) terminal in the western Maharashtra state by May 2018, its chief executive said on Wednesday. India plans to raise the share of natural gas in its energy mix to 15 percent in three years from the current 6.5 percent, according to a plan set out by Prime Minister Narendra Modi's government. H-Energy has invested 17 billion rupees ($261 million) to build its 4 million tonnes per annum (mtpa) regassification terminal near the Jaigarh port in the state, Darshan Hiranandani told Reuters. LNG, a super-cooled natural gas, is imported in liquid form and is regassified at the terminals for supplies to end users.
Work Begins at Wardha Dry Port
The Indian Minister of Shipping Nitin Gadkari will perform the Bhoomi Poojan (Ground breaking ceremony) the Wardha dry port at Sindi (Railway) in Wardha, Maharashtra on 2nd October, 2017. The Dry Port is being developed by the Jawaharlal Nehru Port Trust (JNPT) in a bid to cater effective logistics services to the industries in Vidarbha region and improve cargo throughput at the Port. The proposed Wardha Dry Port is to be constructed over an area of 350 acres in phased development with a total estimated investment of Rs 500 Crore.
India's Largest Container Port Trying to Recover from Cyber Attack
The National Cyber Security Coordinator Dr Gulshan Rai visited Jawaharlal Nehru Port Trust (JNPT) to assess the impact of the global cyber attack that has disrupted the operations of one of the container terminals at the port. He, together with Chief Commissioner Customs and Excise, Chairman-JNPT and Inspector General-Cyber Maharashtra held discussions with the officials of GTI Terminal, DP World and officials of JNPT. JNPT handles container traffic through four terminals. One of the Terminal(GTI) is operated by APM Moller Maersk, a Danish company with headquarter at Copenhagen.
JSW to Invest USD 1.1bln on Ports
JSW Group will invest INR 7,000 crore (USD 1.1bln) more in the ports sector over next three years to create assets in the country as well as abroad, PTI reported. The company is also looking at diluting up to 15 percent stake in the ports operating company, JSW Infrastructure, to a private equity player soon, and take it public by 2019. JSW Infrastructure Ltd (JSWIL), a 100% subsidiary of Sajjan Jindal led-JSW Group, has also drawn up a master plan to develop its Jaigarh Port in Konkan as one of India’s biggest ports that could receive big bulk carriers, LNG, LPG and oil tankers.
DP World Reaffirms Commitment to India's Growth
DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem met with the Honourable Prime Minister of India Shri. Narendra Modi at the 8th edition of the Vibrant Gujarat Global Summit held in Ahmedabad, India. Discussions highlighted the immense potential of India’s growing economy and the nation’s maritime and inland trade. New opportunities resulting from the Prime Minister’s programmes such as Invest India, Digital India, Skill India and Made in India were also on the agenda, evidence of the new economic direction of the country. Mr.
Indian Ministry of Shipping Updates on Sagarmala Program
Sagarmala Programme, an ambitious port-led infrastructure development programme of the government to harness India’s 7,500-km, is now moving from the conceptualization and planning to the implementation stage. The National Perspective Plan (NPP), for the comprehensive development of India’s coastline and maritime sector, has been prepared and was released at the maiden Maritime India Summit 2016, on 14th April, 2016, by the Hon’ble Prime Minister. As part of Sagarmala, more than 400 projects, at an estimated infrastructure investment of more than Rs.
14 CEZs to Come Up in India Under Sagarmala
The Government has identified fourteen Coastal Economic Zones (CEZ) along the coastline of the country under National Perspective Plan (NPP) of Sagarmala Programme. The CEZ are spatial economic regions spread over multiple coastal districts with strong port linkage. Within each CEZ, there could be multiple industrial clusters that could contain industrial units with requisite support infrastructure. In the state of Gujarat there will be three CEZs - (1) Kandla-Mundra, (2) Pipavav-Sikka and (3)Dahej-Hazira.
Master Plan to Develop Indian Ports
Based on the present traffic and cargo scenario of Major Ports, a Master Plan has been prepared for expansion of port capacity, which includes a number of new ports. Sagar Island (West Bengal): Public Investment Board (PIB) has appraised the project subject to the condition that state Government shall ensure possession of the land is available to National Highways Authority of India (NHAI) or any other Agency providing road connectivity and to railways/agency providing rail connectivity. Projected Traffic is to be around 3.5 MTPA in 2020 increasing to around 27 MTPA in 2035.
India's Sagarmala for Sustainable Growth of Coastal Community
The Ministry of Shipping, India has sanctioned Rs. 30 Crore ($4.37 mln) for capacity building and providing safety training of 20,000 workers engaged in ship recycling activities at Alang-Sosiya recycling yard in Gujarat. In addition, Rs. 13.77 Crore has also been sanctioned for skill training in 27 coastal districts in convergence with Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY). In addition to this, to support the development of fishermen community, the Ministry…
India Earmarks $7.1 bln to Expand, Modernise Major Ports
Expansion, modernization and up-gradation of Major Ports in India is an ongoing process to keep the ports abreast with new technologies and also to promote trade and cargo. 62 Public–private partnership (PPP) Projects with an investment of Rs.49,049 crore ($7.1 bn) are under implementation and operation. For the year 2016-17, 33 projects with an investment of Rs.9,845 crore have been taken up. Port Master Plans for 12 major ports have been prepared keeping in view the requirements for cargo handling till 2035. A total of 142 Port Modernization projects have been identified in the Master Plans. These identified projects will be taken up for implementation in phases.
Indian Transportation Sector Surges Ahead
The Shipping and Road Transport sectors in India have together spent a total of about Rs 4 lakh crores ($60billion) in the past two and a half years as they work towards building world class highways and shipping infrastructure in the country, says the Cabinet Minister Nitin Gadkari. While the Road Transport & Highways Ministry has spent about Rs 3 lakh 17 thousand crores to build a total of 14,594 Km and award 21,247 Km of National Highways, the Shipping Ministry has spent about Rs 80…
Cable Ship Rescues 14 Fishermen near Mumbai
The crew deployed on the C.S. Dependable, a transoceanic cable ship from TE SubCom, rescued 14 fisherman in the Arabian Sea off the Maharashtra Coast near Mumbai, India. Indian fishing boat FV Datta Sai sank on September 17 with 16 persons aboard, no personal floatation devices and no VHF radio. The C.S. Dependable, in transit between work sites, came across the fisherman clinging to floating debris and treading water, and all hands were called to enact an immediate water rescue. “This was a complicated and dangerous effort that required excellent communication and everyone’s commitment to this rescue, as I had to maneuver the ship to keep the men in the water away from thrusters,” said Captain Yann Durieux, Master, C.S. Dependable, TE SubCom.
India's Shipping Sector to Boost Economy of Coastal States
The last two years have marked a new high for the Indian Maritime sector, including the Ports as the Ministry of Shipping is keen to develop the Indian Ports to international standards both in terms of efficiency and infrastructure. Rajive Kumar, the Secretary of Ministry of Shipping, said that “The Maritime India Summit 2016” - first global investment meet conducted by the Ministry- saw very enthusiastic participation from more than 40 countries. 141 business agreements worth $ 12 billion (Rs. 82,905/- crores) were concluded during the Summit.
India to Boost LNG Impots
India plans to more than double its liquefied natural gas (LNG) import terminal capacity in six years to cater to the rising natgas demand from refineries, fertilizer and power plants, according to a report in the Economic Times. A total of 15.15m tonnes of LNG was delivered into Indian terminals in 2015, a 5% increase from 2014, according to ICIS data. India was one of the biggest importers of LNG in Asia buying approximately10.4 million tonnes in 2014. In 2015-16, the natural gas consumption in the country rose barely 2 per cent to 52 billion cubic meters…