Puravankara-Morgan Stanley fund to build industrial parks

According to a recent report published in a leading national daily, real estate firm Puravankara and Morgan Stanley have signed an agreement to utilize a specific investment fund to create a warehousing platform. It will be eventually utilized to set up industrial parks in South India where Purvankara is strongly positioned.   The report underlines that the warehousing platform would mainly seek to undertake greenfield projects. “ It is at the initial stage where the process of identifying land parcels has started. Puravankara being Bengaluru-based, the south is its core…

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Chennai Port to operate Kamarajar Port as subsidiary

In a significant development, the Cabinet Committee on Economic Affairs recently gave ‘in principle’ approval for strategic disinvestment of 100% equity shares of Government of India in Kamarajar Port Limited (KPL) to Chennai Port Trust (ChPT) in a single stage process, by following ‘Arm’s length’ principles. After the transfer of the complete equity shares right, Kamarajar Port will be operated as subsidiary by Chennai Port Trust. Presently, the Government of India and Chennai Port Trust hold 67% and 33% of shares respectively in Kamarajar Port Limited.   The methods of valuation,…

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Rajkot to get greenfield airport

The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Narendra Modi has last week cleared the proposal for development of New Greenfield Airport at Hirasar, Rajkot, Gujarat. The project is estimated to cost over Rs 1400 crore. The decision to create a new airport has been taken as the existing hub is not scalable. The present airport at Rajkot is severely land constrained having only 236 acres (approx.) of land and situated in the heart of city. Considering the constraints and compulsions with respect to existing airport, state…

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Two spice parks unveiled

Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, last week announced Rs 1000 crore worth of projects. This also included inauguration of two spices parks in the country – in Kota, Rajasthan and Raebareli in Uttar Pradesh. The establishment of spices parks is meant to help farmers to get better returns for their produce and to ensure the quality of spices for exports. The elimination of intermediaries in the supply chain due to direct linkages facilitated by the parks will ensure better prices for the farmers informed…

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Tripura gets its first mega food park

Union Minister of State for Food Processing Industries Sadhvi Niranjan Jyoti recently inaugurated Sikaria Mega Food Park at Village Tulakona in Agartala. This is the first Mega Food Park in the state of Tripura. The Mega Food Park has been set up in 50 acre of land at the cost of Rs. 87.45 crore. Government of India has accorded approval of a financial assistance of Rs. 50.00 Crore to the project. The food park is having facilities of fully operational Dry warehouse and material handling of 5000 MT, Pineapple canning…

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Odisha waterways to carry 200 lakh tonnes of cargo

Nitin Gadkari, Union Minister of Road Transport & Highways, Shipping, Water Resources, River Development & Ganga Rejuvenation, recently visited Odisha and in a public meeting emphasized union government committed to develop all modes of transportation in the state. During the visit, Gadkari announced a 262 km long waterway, combining Mahanadi and Brahmani. This waterways stretch will be developed from Karimnagar to Dhamra and Paradip at a cost of Rs 5,000 Crore. It will carry 200 lakh tonne of cargo and be a game changer for the state. The project is…

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Mathura to get mega food park

Union Minister for Food Processing Industries Harsimrat Kaur Badal recently laid foundation stone for Nandvan Mega Food Park in Badawal, Chhata-Barsana road in Mathura in Uttar Pradesh. The Mega Food Park is being set up in 57.41 acre of land at a cost of Rs. 120.77 Crore. This mega food park is slated to have a host of facilities including Multipurpose Cold Storage – 2000 MT, Individually Quick Frozen (IQF)with Frozen Storage – 2 MT/Hr and 4000 MT, Dry Warehouse – 10000 MT, Raw milk packaging Line – 2 LLPD,…

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Enormous scope for infrastructure investment, PM tells global investors

Prime Minister Narendra Modi has urged global investors to aggressively participate in the massive infrastructure revamp exercise in the country. Delivering his inaugural note at the Vibrant Gujarat summit last week, the prime minister underlined that infrastructure development has been significantly expedited in the recent years and the exercise would pick up further momentum. “We are keen to scale up investments in next generation infrastructure including roads, ports, railways, airports, telecom, digital networks and energy. We are also investing heavily in our social, industrial and agri-infrastructure to give better income…

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PM unveils multi-modal logistics park in Odisha

During his visit to Odisha early this week, Prime Minister Narendra Modi unveiled an expansive multi-modal logistics park at Jharsuguda, a prime industrial hub in the state. The Multi-Modal Logistics Park (MMLP) has been built at a cost of Rs 100 Crores. It will facilitate EXIM and Domestic cargo including Private Freight Traffic. MMLP is located adjacent to Howrah- Mumbai which is 5 km from Jharsuguda Railway Station. Many important industries like steel, cement, paper etc are located around the facility and will be benefitted from it. The Multi-Modal Logistics Park will establish…

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Çelebi Aviation Wins Ground Handling License for Hyderabad International Airport

Çelebi Aviation Holding, one of the leading global ground handling service provider has won the Ground Handling license for Hyderabad’s Rajiv Gandhi International Airport (RGIA). This is the third major contract for Çelebi since last year, after winning the license for the Bengaluru and Kannur airports.    Under the 10-year concession, Çelebi Aviation will provide state of the art ground handling services to make customer experience at the city airport seamless. The contract was won on the basis of a highly competitive bidding process that assessed technical and financial qualifications…

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