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The Economic Times

Govt approves sale of FSNL to Japan's Konoike Transport Co for Rs 320 cr

The government has approved the privatisation of Ferro Scrap Nigam Ltd (FSNL) to Japanese company Konoike Transport Co Ltd for Rs 320 crore. FSNL, a subsidiary of MSTC Ltd under the Steel Ministry, received two bids, with Konoike's being the highest. The sale includes 100 per cent equity shareholding and management control transfer.

CNBC TV18

Japanese firm Konoike Transport wins ₹320-crore bid for MSTC arm Ferro Scrap Nigam

FSNL is a wholly-owned subsidiary of MSTC Ltd under the Ministry of Steel, while Konoike Transport is listed on the Tokyo Stock Exchange and has a longstanding presence in the steel industry. Shares of MSTC Ltd ended at ₹722.65, up by ₹10.55, or 1.48%, on the BSE.

The Economic Times

Easing exports: India to buy more second-hand vessels to raise container capacity, cut port charges

India will reduce port charges and purchase five second-hand container vessels to boost exports and address shipping issues. These measures aim to lower shipping costs, improve container availability, expedite export consignments, and reduce port congestion. Commerce Minister Piyush Goyal announced these steps following a meeting with various stakeholders.

The Economic Times

IIT alumni to invest Rs 700 cr for EV buses in Goa; will revive mass transport, says CM Pramod Sawant

The Goa cabinet has approved a proposal by IIT alumni to invest Rs 700 crore in introducing electric buses for the state's public transport system. The initiative aims to roll out 500 EV buses, enhancing the fleet of Kadamba Transport Corporation Limited and reviving non-operational routes and interstate services.

Business Standard

Centre's support to help attain $1 bn exports of alcoholic beverages: CIABC

Support from the Centre and state governments will help the country to achieve USD 1 billion worth of alcoholic beverages exports in the coming years, the Confederation of Indian Alcoholic Beverage Companies (CIABC) said on Wednesday. CIABC Director General Anant S Iyer also said that promoting ease of doing business for the sector is key at both the Central and state government levels. Easy and timely permissions for bottling and branding; transport permits; and promoting online paperwork are some of the areas which need special attention for the growth of the sector. "We need ease of doing business across the operations, besides easy tax structures and market-determined prices to boost the exports. At present, rules for the sector differ from state to state," Iyer said. He said the USD 1 billion target is "ambitious, but possible". In 2023-24, the exports stood at USD 389 million. He added that the industry should give a try for this target as it needs about 14-15 per cent ...

The Economic Times

India has potential to export electric two-wheelers: Nitin Gadkari

India has the potential to become a major export hub for electric two-wheelers, according to Transport & Highways Minister Nitin Gadkari. He highlighted that companies like Bajaj and TVS are already exporting nearly 50% of their production. With battery prices decreasing, electric vehicles are expected to be cost-competitive with petrol and diesel vehicles within two years, driving up demand.

The Economic Times

We will not spare you: Nitin Gadkari fumes at poor upkeep of EPE, warns operators

Union Road Transport and Highways Minister Nitin Gadkari criticized agencies and contractors for poorly maintained roads, particularly the Eastern Peripheral Expressway. He warned that bad operators would face blacklisting and forfeiture of bank guarantees, while good performers would be rewarded. The minister emphasised the need for well-maintained roads and highlighted ongoing environmental initiatives.

The Economic Times

India has potential to produce lithium-ion batteries, Kashmir has 6% of global lithium stock: Nitin Gadkari

Union Road Transport and Highways Minister Nitin Gadkari announced that Jammu and Kashmir holds 6% of the world's lithium stock, highlighting India's potential to produce lithium-ion batteries. He emphasised the future of electric vehicles and the need for alternate fuels like ethanol and hydrogen. Gadkari also discussed India's growing automobile industry and its significant export contributions.

Business Standard

Increase in airfare not linked to rise in airport charges, says ACI

Airport charges are an important element of the commercial aviation ecosystem for infrastructure development and increase in airfares is not linked to a rise in the charges, according to the Airports Council International (ACI). Against the backdrop of the International Air Transportation Association (IATA) flagging concerns over a steep rise in airport charges, ACI also said that the charges will remain a critical source of revenue for airports. "Airport charges are an important element of the commercial aviation ecosystem for infrastructure development. Failing to address the capital expenditure requirements to accommodate the projected growth could have serious socio-economic consequences," Stefano Baronci, Director General, ACI Asia Pacific & Middle East, said. In a statement to PTI, he noted that airports are highly infrastructure-intensive businesses, with their cost structures dominated by significant fixed costs for the operation and upkeep of essential infrastructure such

The Economic Times

Airfare hike not linked to rise in airport charges: Airports Council International

Airport charges are crucial for infrastructure development in aviation, says Airports Council International (ACI). Despite concerns from the International Air Transportation Association (IATA) about rising charges, ACI maintains that these fees are vital for airport revenue and do not significantly impact airfares. India's rapid aviation growth highlights the importance of maintaining infrastructure investment.

The Economic Times

Noida International Airport ties up with Statiq for EV charging infra

Noida International Airport has partnered with Statiq to provide electric vehicle charging infrastructure at the airside. Statiq will install, operate, and maintain the charging stations, which will be available to all concessionaires and airport vehicles. This initiative supports the airport's sustainability goals by enabling the use of electric ground support equipment and other EVs. The first phase includes a mix of AC and high-powered chargers.

CNBC TV18

Port Shelter CEO advises investing in EMs and smallcaps

Richard Harris, the Chief Executive of Port Shelter Investment Management said that emerging markets, particularly India, are attracting international investors due to their strong economic growth and stable conditions.

The Economic Times

Tuticorin Intl container terminal dedicated to nation; to reduce logistics costs, save forex

The Tuticorin International Container Terminal was inaugurated by Union Minister Sarbananda Sonowal, enhancing VOC Port's capacity. Prime Minister Modi highlighted its deep draft and significant berth length. The terminal aims to reduce logistics costs, save foreign exchange, and promote gender diversity with 40% female employees. Multiple development projects were also launched.

Business Standard

Adani Energy's Kenya transmission deals still under talks: Report

News of the potential deal comes after Kenya confirmed the India-listed conglomerate is seeking another 30-year concession to run the nation's biggest airport

The Economic Times

Adani Group says have not issued any press releases related to Kenya

The Adani Group has clarified that it has not issued any statements regarding Kenya amid circulating fraudulent press releases. The company emphasised the need to verify facts from official sources. Meanwhile, a Kenyan court has suspended a $1.85 billion deal for Adani to operate Nairobi's Jomo Kenyatta International Airport, and Kenya awarded Adani a $1.3 billion contract to build power transmission lines.

Business Standard

Kenya awards $1.3 bn transmission deal to Adani amid airport lease protests

Kenya has awarded a $1.3 billion public-private partnership contract to India's Adani Group and Africa50 for the construction of power transmission lines

The Economic Times

Kenya says it has given Adani Group contract to build power lines

Kenya has granted a $1.3 billion public-private partnership concession to India's Adani Group and Africa50, a unit of the African Development Bank, to build power transmission lines. This project aims to alleviate Kenya's debt burden. However, a separate plan to lease Jomo Kenyatta International Airport to Adani has sparked controversy and protests.

Business Standard

Infrastructure, agriculture key focus areas of 100 days of Modi 3.0

The BJP-led NDA government has approved infrastructure projects worth Rs 3 lakh crore, including linking 25,000 unconnected villages to road networks and building a mega port at Wadhawan in Maharashtra, during its first 100 days in office. Besides infrastructure, the focus of the government has also been on agriculture by increasing the minimum support price (MSP) for Kharif crops, removing of minimum export price (MEP) on onions and basmati rice and hiking the duty on the import of crude palm, soybean and sunflower oils. Prime Minister Narendra Modi assumed office for the third consecutive term on June 9 this year. The thrust of the Modi government has been on providing stability on the policy front with a flexible approach to adopt certain changes to remove teething problems without diluting the original concept. A case in point is the Goods and Services Tax which has undergone 140 changes to reduce friction. The government approved the Wadhavan Mega Port in Maharashtra for Rs .

Business Standard

Bengal to streamline e-rickshaw registration, discontinue illegal vehicles

The West Bengal transport department has decided to streamline the registration of e-rickshaws and phase out unregistered and illegally manufactured vehicles. The decision was taken in view of representations from various bodies about the plying of lakhs of unregistered e-rickshaws built in workshops without following any standard manufacturing procedures or safety guidelines. A senior transport department official said that district magistrates have been asked to identify battery-operated unregistered e-rickshaws built clandestinely at local garages and phase them out in a time-bound manner. Transport Secretary Saumitra Mohan, in a notice issued on September 12, said, "Representations have been received from different stakeholders in connection with non-compliance of guidelines for registration of e-rickshaws, duly manufactured by different companies including original equipment manufacturers, after obtaining the approval from the competent authority." As per the Central Motor ...

Mint

Focused on north, eyeing govt sale of key properties: Bharti Real Estate CEO Sayal

The real estate arm of the Bharti Group will focus on building a $2 billion business district near Delhi airport, said S.K. Sayal, CEO and MD.

Business Standard

IndiGo passengers wait inside plane as Mumbai-Doha flight faces tech issue

Passengers of an IndiGo flight from the city to Doha waited inside the aircraft for more than four hours as the flight was delayed due to a technical issue on Sunday. Some passengers took to social media to complain about the long flight delay and that they had to wait for long. The flight was to take off on Sunday early morning. Passengers were inside the aircraft for more than four hours before they deplaned. The flight is now expected to take off later in the day from the Mumbai airport, sources in the know said. IndiGo said its flight 6E 1303, operating from Mumbai to Doha, was delayed due to a technical reason. "The aircraft tried to depart for its destination a couple of times but had to finally be called off due to the extended time lag on account of various procedural delays," the airline said in a statement. While apologising for the inconvenience, IndiGo said its airport team immediately provided assistance to the affected customers and provided refreshments and necessa

The Economic Times

New cruise terminal in Goa to boost tourism, local economy: Official

The Mormugao Port Authority anticipates further growth in cruise passengers with the construction of an International and Domestic Cruise Terminal in Goa by March 2025. This development aims to boost tourism and the local economy, enhancing the region's competitiveness in the global cruise market.

Mint

Oil India aims to operate Numaligarh refinery at 180,000 bpd capacity by 2027

Oil India plans to expand its Assam refinery's capacity to 180,000 bpd by March 2027. The expansion includes a new pipeline to Paradip Port, with both projects scheduled for completion by December 2025, and an investment of $3 billion by 2030.

Business Standard

OIL to invest Rs 25,000 cr in clean energy for net zero emissions by 2040

State-owned Oil India Ltd plans to invest Rs 25,000 crore in clean energy projects to help achieve the net zero carbon emission goal by 2040, its chairman Ranjit Rath said on Saturday. OIL's net zero plan includes a combination of cutting down the flaring of gas and commercialisation of stranded gas as well as setting up renewable electricity generation capacity, building green hydrogen plants and constructing biogas and ethanol plants. The net zero plans will go alongside its target to raise crude oil and natural gas production to 9 million tonnes of oil and oil equivalent gas by 2025-26 from 6.5 million tonnes produced in the fiscal year ended March 31, 2024, he told reporters here. The company also plans to lay an 80-kilometer pipeline to bring natural gas from fields in Arunachal Pradesh to Assam to help replace polluting liquid fuels in transport as well as industries. "Achieving a net zero target involves a bouquet of activities," he said. It already has firmed up plans for

The Economic Times

Ahmedabad-Gandhinagar Metro expansion to enhance connectivity and sustainability

Prime Minister Narendra Modi will inaugurate the second phase of the Ahmedabad-Gandhinagar Metro on September 16. This new phase will significantly reduce travel time between the two cities to under 45 minutes. The Metro expansion aims to enhance Gujarat's urban transport network, integrating with BRTS, railway, and future bullet train projects for a seamless commute.

Business Standard

Harshdeep Hortico wins orders of Rs 86.61 lakh

The company has received another order from Mangaluru International Airport for supply of planters. The value of the order is Rs 21.71 lakh.

CNBC TV18

GMR Airports reports 9% growth in August passenger traffic

The Delhi International Airport, GMR’s flagship asset, registered over 6.3 million passengers in August, reflecting a 7.6% YoY increase. Shares of GMR Airports Ltd ended at ₹96, up by ₹2.07, or 2.20%, on the BSE.

Business Standard

Flight schedules may get impacted due to bad weather in Delhi: Airlines

IndiGo and SpiceJet on Friday evening said that flight schedules may get affected due to bad weather in the national capital while the Delhi airport saw diversion of one flight amid heavy rains. On Friday, heavy rains lashed parts of Delhi on Friday afternoon and the weather department has predicted more showers. An official in the know said one flight of AIX Connect coming from Bagdogra to Delhi was diverted to Lucknow due to bad weather. "It's pouring heavily in #Delhi, affecting flight schedules. If you're planning to jet off, please keep a tab on your flight status... and plan ahead, as roads leading to the airport may be waterlogged," IndiGo said in a post on X at 5.03 pm. In a post on X at 5.12 pm, SpiceJet said that due to bad weather in Delhi, all departures/arrivals and their consequential flights may get affected. "Traffic congestion and slow vehicle movement are expected enroute Delhi Airport due to heavy rains. Passengers travelling to the airport are requested to keep

Business Standard

More than 80 critical issues resolved during 20th MSDC meet in Goa

More than 80 critical issues between the Centre, states and Union Territories were resolved during the 20th Maritime State Development Council (MSDC) that concluded in Goa on Friday. As per an official release, the two-day event saw the resolution of critical issues focused on port infrastructure modernisation, connectivity, statutory compliances, maritime tourism, navigation projects, sustainability, and port security. During the 20th MSDC, more than 100 issues from various states were deliberated and successfully resolved, it said. "Several new and emerging challenges were also addressed, including the establishment of places of refuge (PoR) for ships in distress, the development of radioactive detection equipment (RDE) infrastructure at ports to enhance security, and the facilitation of seafarers by recognising them as key essential workers, ensuring better working conditions and access to shore leave," the statement added. Union Minister of Port Shipping and Waterways Sarbanand

The Economic Times

IndiGo, SpiceJet say flight schedules may get impacted due to bad weather in Delhi

IndiGo and SpiceJet have warned passengers that flight schedules may be disrupted due to heavy rains in Delhi. The weather department has forecast more showers, and one flight from Bagdogra to Delhi was diverted to Lucknow. Passengers are advised to check their flight status and plan their journey to the airport carefully as roads may be waterlogged.

The Economic Times

Bimaru to boom state: UP will now have a chip on its shoulder

Uttar Pradesh is transforming from a low-industrialized state to a booming electronics hub. The state has attracted significant investments, including a semiconductor plant by Foxconn and HCL Group near Jewar airport. Major projects like Samsung's mobile unit and the UP Defence Industrial Corridor are also underway, aiming for a $1 trillion economy by 2027-28.

Business Standard

UK govt can reclaim GBP 500 mn funding if Tata Steel fails on commitments

Tata Steel signed a GBP 500 million grant funding pact with the UK government to advance the installation of a low-carbon electric arc furnace at Port Talbot

The Economic Times

GMR plans Aerocity Projects on 1,500 acres around major airports

GMR Group is planning a significant real estate development around its airports in Delhi, Hyderabad, and Goa. The projects include industrial, commercial, and hospitality developments. Notable plans include a resort-focused development in Goa and extensive social infrastructure at Hyderabad airport. Other developers are also contributing to these aerocity projects.

The Economic Times

Pre-Bharat Stage norm vehicles should be scrapped, says top official

Ministry of Road Transport & Highways Secretary Anurag Jain has advocated for the scrapping of pre-BS era vehicles, particularly commercial heavy vehicles, due to pollution and safety concerns. He highlighted that these older vehicles contribute significantly to pollution and have higher fuel and maintenance costs. The government is working on incentivizing vehicle scrapping.

Business Standard

Tata Steel inks 500 million grant funding agreement with UK Govt

Tata Steel said that it has signed a 500 million grant funding agreement with the UK Government allowing it to proceed at pace with the project to install an electric arc furnace at the Port Talbot steelworks in Wales.

The Economic Times

Japan's Nikkei rallies on Wall Street gains, softer yen

Among the Tokyo Stock Exchange's 33 industry groupings, transport equipment, which includes automakers, climbed 2.4% and was among the top performers. Toyota Motor gained 3.8%, while Kawasaki Heavy Industries led the sector with a 6.3% rise. Japan's technology shares tracked their U.S. peers higher to offer the Nikkei the largest lift.

The Economic Times

KPIL bags orders worth Rs 2,774 crore

Kalpataru Projects International and its subsidiaries have secured orders worth Rs 2,774 crore. These include projects in Transmission & Distribution overseas, an EPC project for airport extension from Airports Authority of India, and a residential buildings project in India. The company’s year-to-date order intake has reached around Rs 9,800 crore.

The Economic Times

Vedanta plans to expand nickel sulphate production, to tap overseas demand

Vedanta, an Indian metals-to-oil conglomerate, plans to increase its nickel and nickel sulphate production to meet the rising demand for EV battery materials in northeast Asia. The company has urged India's government to push Japan and South Korea to remove import duties on nickel sulphate. Vedanta aims to contribute to India's export targets and support cleaner technologies in transport.

The Economic Times

Delhi and Mumbai international airports feature amongst busiest in world

Delhi's Indira Gandhi International Airport and Mumbai's Chhatrapati Shivaji Maharaj International Airport have been recognized among the world's most well-connected hubs by UK-based air consultancy firm OAG. Delhi improved its rank to 24, while Mumbai dropped to 44. IndiGo has become one of the world's largest airlines, with Delhi and Mumbai as its major hubs.

Business Standard

Kalpataru Projects International bags orders worth Rs 2,774 crore

Kalpataru Projects International on Thursday said the company and its arms secured orders worth Rs 2,774 crore. Kalpataru Projects International Ltd (KPIL), one of the largest Engineering & Construction companies listed in India along with its international subsidiaries have secured new orders/notification of awards of Rs 2,774 crore, a company statement said. These include new orders in the Transmission & Distribution (T&D) business in overseas markets and the EPC project for Extension of Airport from Airports Authority of India (AAI). The new orders also include Design & Build project for residential buildings in India. Manish Mohnot, MD & CEO, KPIL, said in the statement, "We are pleased with the continuous ordering momentum, especially in our T&D and Buildings and Factories (B&F) business." The order from the AAI will mark our entry into the growing domestic airport sector and further diversify our clientele, he added. The orders in the T&D and ...