NHAI gets Cabinet nod to set up Infrastructure Investment TrustUnder InvIT, highway projects will be bundled to form a special purpose vehicle (SPV) to be offered to investors. The SPV would then be traded on the stock exchanges, and returns will be linked to the InvIT’s performance in the capital market. InvIT as an instrument provides greater flexibility to investors and is expected to create specialized O&M.
Slowdown only cyclical, India's growth potential not lost: Chief Economic AdvisorSubramanian said that there was, needless to say, a slowdown in the economy but it needs to be assessed whether it was structural or cyclical in nature. India’s GDP growth in Q1 of the current financial year, fell to a 6-year low of 5%, while Q2 slowed down further to 4.5%. The Reserve Bank of India has also lowered its GDP forecast for 2019-20 from 6.1% to 5%.
Roads to be Audited to identify Black Spots, assess cause of accidents: Nitin GadkariRoad accidents in India claimed over 1.5 lakh lives in 2018, a recent report by the transport ministry revealed. India ranks 1st in the number of road accident deaths across the 199 countries reported in the World Road Statistics, 2018, followed by China and the US. As per WHO, India accounts for almost 11% of the accident related deaths in the world.
Scrappage policy: No direct sops for junking old cars“The Central government will not offer any direct incentives in the policy or any tax sops, as was being talked about earlier,” an official told ET. “State governments will be free to offer rebates on road tax against a scrapping certificate. Even original equipment manufacturers can allow a discount against a scrapping certificate if they want to boost their sales.”
Deadline for FASTag deferredThe government wants to give additional time for vehicle owners to switch to FASTags, senior officials aware of the development told ET. . Vehicles without FASTags entering the ETC lane will have to incur twice the toll fee December 15 onwards, NHAI said.
In talks with SBI to jointly run e-commerce portal for MSMEs: Nitin GadkariMSME Minister Nitin Gadkari on Thursday said that he is to meet SBI Chairman next month to discuss whether the bank can jointly run an e-commerce portal called Bharat Craft, meant for taking Indian MSMEs to the global platform. “For the first time, after our govt came to power, we are readying a portal called Bharat Craft,” Gadkari said
EESL plans to issue tender for e-luxury cars in JanuaryBoth Ola and Uber declined comment on the development. The tender is likely to be floated in January 2020, around the time when foreign automakers such as BMW are expected to launch their electric cars in India. Currently, Hyundai's Kona is the only car present in the premium electric car segment.
Legislation for stringent ship recycling norms this session: Mansukh MandaviyaThe proposed legislation seeks to set up a monitoring body to ensure that recycling centres are in compliance with the Hong Kong Convention. It will be set up under the chairmanship of the director-general of shipping, he said, adding that India had already done lot of work towards raising standards followed at the ship-breaking yards.
NHAI plans TOT rejig to woo small companiesAccording to the earlier model approved by the government in 2016, NHAI could monetise publicly funded highways by offering investors toll collection rights for 30 years for a lumpsum amount. “With this flexibility, we now get a larger pool of road stretches to choose from,” a senior government official told ET.
NHAI is now giving FASTags free of cost to encourage switch to e-tollingThe road transport and highways ministry had earlier this year announced December 1 as the deadline to switch all toll lanes across national highways in the country to electronic toll collection (ETC). “NHAI has set up point of sale (PoS) on several toll plazas across the country, and they are giving out FASTags free of cost,” Nitin Gadkari said.
Cube Highways wins TOT project with Rs 5,011 cr bidFinancial bids for the third bundle of toll-operate-transfer(TOT) auctions were opened on Wednesday. TOT was introduced in 2016 to monetise publicly-funded highways. Under the model, investors make a one-time payment in return for long-term toll collection rights.
India accedes to Honk Kong convention for ship recyclingThe International Maritime Organisation (IMO) adopted the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships in 2009, which is aimed at ensuring that ships being recycled after reaching the end of their operational lives do not pose any unnecessary risks to human health, safety and to the environment.
Just 3 companies show up for NHAI's toll-operate-transfer-3 auctionsNHAI had in June this year invited bids for the third bundle of toll-operate-transfer auctions, looking to raise a minimum of Rs 4,995 crore. While the names of the companies that have submitted bids due on Monday are not yet known, officials said leading infrastructure players such as Adani, Cube Highways, IRB Infrastructure and L&T could be among the bidders.
Alstom-Railways JV struggles to meet locomotive targetThe Electric Locomotive Factory at Madhepura in Bihar was one of the two major locomotive projects awarded in 2015 as part of the Make in India initiative, the second being a joint venture with GE. The Rs 20,000 crore Madhepura project was tasked with manufacturing 800 high-powered locomotives in 11years. The JV is the largest FDI in the railway sector.
BYD-Olectra, Tata Motors, Ashok Leyland in fray to supply, operate 1,200 e-busesState transport utilities have floated, or are in the process of floating, tenders for about 5,500 electric buses, and out of these bids for about 1,200 buses have been opened so far. The largest number of buses have been sanctioned for Maharashtra at 725, followed by UP at 600. Delhi has floated tenders for 100 electric buses, and Gujarat for 200 buses.
Railway coach making chugs past slowdownThe Indian Railways manufactured 4,182 coaches till the end of October 2019, officials said, against 3,241 units built a year ago. The production target for 2019-20 is 8,026 units and 5,771 of these are to be Linke Hoffmann Busch (LHB) coaches.
Niti Aayog draws Rs 11,000-crore plan for states for buying busesThese buses will be largely internal combustion engine-based ones, separate from the plan already in place to encourage a switchover to electric buses. A similar plan was implemented by the previous UPA government to help states purchase buses under the JNNURM after the 2008 financial crisis to boost the economy.
Scrappage policy to be out for Public comments by November 15The policy for voluntary scrapping of old vehicles is expected to spell out disincentives for older vehicles, including manifold increase in re-registration fee of old vehicles. The guidlines issues on October 15th call for formalising the vehicle scrapping market in India which is unorganised at present.