by Sawon Banerjee | May 7, 2021 | News
The Cabinet approved two production linked incentive schemes for air conditioners, LED lights and high efficiency solar PV modules worth ₹10,738 crore. PLI for solar PV modules is worth ₹4,500 crore, while the PLI scheme for white goods is worth ₹6,238 crore.
These schemes plan to make India a manufacturing hub for meeting both domestic consumption needs as well as for exports. The PLI scheme for white goods is expected to lead to incremental production worth ₹1.7 trillion, exports worth ₹64,400 crore with additional employment generation of more than 100,000 jobs over 5 years.
by Sawon Banerjee | May 7, 2021 | News
Reliance Industries and multiple industrial players came together to form India H2 Alliance (IH2A), a new energy transition coalition. This will help commercialize hydrogen technologies to build net-zero carbon energy trajectories in the country.
The alliance will collaborate with the government on five areas: to come up with a national hydrogen policy and roadmap 2021-30; to create a national H2 taskforce and mission in a public-private partnership (PPP) format; to identify nationally large H2 demonstration-stage projects; to help create a national India H2 fund; and to create hydrogen-linked capacity covering hydrogen production, storage and distribution, industrial use-cases, transport use-cases and standards, the alliance said in a statement. Anurag Pandey, R&D team lead at Reliance Industries said, “We need to identify and execute large-scale hydrogen demonstration projects if we want to be part of the global hydrogen supply chain. Beyond R&D pilots, we need a ’hydrogen-valley’ style national initiatives across a region like a high-traffic industrial freight corridor, with multiple use-cases and the alliance will take the lead in this.”
by Sawon Banerjee | May 7, 2021 | News
Nitin Gadkari, Union Minister of Road Transport & Highways issued a statement that the length of National Highways has gone up by 50% over the last seven years. The Ministry accomplished a record-breaking milestone by constructing 37 kilometres highways per day in year 2020-21.
“Over the last 7 years, length of national highways has gone up by 50% from 91,287 km (as of April 2014) to 1,37,625 km (as on March 20, 2021),” said Gadkari while talking about the major achievements.
“Total budgetary outlay increased by 5.5 times, from ₹33,414 crore in Financial Year 2015 to ₹1,83,101 crore in Financial Year 2022. The sanctioned amount has increased by 126% in the financial year 2021 over the financial year 2020 despite Covid-19 related impact. Sanctioned length in kilometres has also increased by 9% in the financial year 2021 over the financial year 2020,” he said while addressing a gathering. The Union Minister said average annual project award (annual average award length) during the financial year 2015 to the financial year 2021 has increased by 85% compared to FY 2010 to FY 2014.
by Sawon Banerjee | May 7, 2021 | News
Pan India project worth ₹7,000 crore, Bharat Road Network Ltd. (BRNL) along with its partners signed an agreement with Singapore based Cube Highways for the complete transfer of ownership in an operating toll road project in Uttar Pradesh. The revenue generated will help achieve reduction in debt and opportunities to capitalize on growth in the highway sector. BRNL currently holds 39% stakes in this project. The transaction is done at an enterprise value of up to ₹1,600 crore.
“We continue to explore opportunities for value creation through our portfolio realignment. We remain focused towards optimizing value through such strategic exits and are equally committed to raise resources to capitalize on the current and upcoming primary and secondary market opportunities in the highway sector,” Bajrang Kumar Choudhary, Managing Director, BRNL said.
by Sawon Banerjee | May 7, 2021 | News
Adani Road Transport Ltd (ARTL) notified that it has won a ₹1039.90 crore highway project from NHAI in Telangana.”We are pleased to inform you that ARTL has received a letter of award (LOA) for four laning of NH-365A from Kodad to Khammam in the State of Telangana under Bharatmala Pariyojana on Hybrid Annuity Mode (HAM),” the company said in a BSE filing.The bid cost of the project is ₹1,039.90 crore, it further added. The construction period of the project is two years, while the operation period is 15 years, it noted.
With this project award, Adani Group will have a total of eight NHAI road projects under HAM and Toll-Operate-Transfer (TOT) in Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala and Gujarat, it added.
