Representatives from 26 countries participating in LOGIX INDIA

2nd LOGIX INDIA, organised by the Federation of Indian Export Organisations (FIEO), was inaugurated by Minister of State for Commerce & Industry, Som Parkash in Delhi this evening. More than 120 International delegates from 26 countries are attending 2nd Edition of LOGIX INDIA 2019 to develop superior logistics linkages with their Indian counterparts.   Inaugurating the 3-day mega event, Som Parkash said that the government is aiming at reducing the logistics cost to 10 percent of the GDP and has drawn the plans to invest around 100 lakhs crore in logistics infrastructure in…

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DP World subsidiary acquires leading marine logistics provider

Unifeeder, a 100% owned subsidiary of DP World PLC, has announced the acquisition of a 77% stake in the Feedertech Group. The deal, which is expected to close in Q1/2020, is the latest step in DP World’s vision to build end-to-end logistics capability to serve the needs of shipping lines and cargo owners. The acquisition of Feedertech will expand the company’s feedering and short-sea product offering to multiple geographies. Established in 2003 and based in Singapore, Feedertech operates two businesses; Feedertech, which is an independent feedering service, and Perma, a…

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U-Freight takes e+Solutions to Malaysia

Just six months after its launch in Hong Kong, the U-Freight Group is taking e+Solutions, its logistics product designed for e-commerce start-ups, to the Malaysian marketplace. The U-Freight Group launched e+ Solutions to help the growing number of small businesses, which are looking to capitalise on the global e-commerce market, with their logistics needs. The new e+ Solutions service is being rolled out to U-Freight’s e-commerce fulfilment centre (EFC) in Penang to offer a comprehensive e-commerce logistics package: from dedicated storage space for the entrepreneurs’ products, to order processing and…

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Major decline in core industries output in October

This could well be indicative of deepening slowdown in the economy. There has been a major drop in the output of eight core industries in October which collectively comprise over 40 percent of the Index of Industrial Production (IIP). The combined Index of Eight Core Industries stood at 127.0 in October, 2019, which  declined by 5.8 percent as against the figure registered in October,2018. In some of the sectors, the monthly output decline has simply been massive. Coal production, for instance, declined by 17.6 per cent in October,2019. Crude oil production…

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FASTag deadline extended by two weeks

The government has extended the deadline of making FASTag mandatory for toll payments on national highways to December 15. Earlier, it was supposed to be implemented on December 1st. “To facilitate sufficient lead time to citizens to obtain FASTag, it has now been decided that all the lanes in the Fee plazas shall be declared as ‘FASTag lane of Fee Plaza’ by December 15, 2019,” a Ministry of Road Transport and Highways communication said. The move is meant to curb the fuel wastage amounting Rs 12,000 crore incurred due to…

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Railways allow end-users to carry third party cargo

 Railways Ministry has further liberalized its General Purpose Wagon Investment Scheme (GPWIS) to expand the ambit of prospective investors in the scheme. The amendments have been made on the basis of feedback received from investors and end users industry. Among other things, end users (other than logistics service providers) now also have been granted permission to load third party cargo in their rakes in empty direction. This will not only reduce the empty run of GPWIS rakes, but will also entail additional revenue to end user investors, in form of…

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Decline in sugar production unlikely to create supply pressure

The Sugar Commissioner of Maharashtra has recently informed that the sugar production during current sugar season 2019-20 is estimated to be significantly lower than the last year – about 58.3 Lakh MT vis-à-vis about 107 lakh MT produced during last sugar season 2018-19. However, with the carryover stock of about 140 Lakh MT of last sugar season together with estimated production of 273 Lakh MT during current  sugar season, the total availability of sugar in the country is estimated to be about 413 Lakh MT as against estimated domestic consumption…

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SmartCity Kochi commissions 564-kWp rooftop solar power plant

SmartCity Kochi has commissioned a 564-kWp rooftop solar power plant that can generate on an average 8,20,000 units of electricity annually, making it one of the largest among the IT parks in Kerala. Built by Berkeley Energy, the green solution’s installation has been designed, engineered and commissioned by Sunshot Technologies. Berkeley, which delivers clean energy projects in emerging markets globally, has built the SmartCity plant under the OPEX model where the supplier invests, operates and maintains it. Out of the total 564-kWp capacity, 475-kWp capacity is installed on the RCC roof…

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Over 35 percent jump in domestic dairy production

Indian dairy sector has witnessed remarkable growth in the last five years which has further consolidated India’s positioning in milk production. Speaking at National Milk Day-2019 function in Delhi recently, Union Minister for Fisheries, Animal Husbandry & Dairying Giriraj Singh stated that milk production has increased significantly from 137.7 million tonnes in 2013-14 to 187.75 million tonnes in 2018-19, thereby indicating an increase by 36.35%. This has also led to a spoke in the per capita availability of milk – going up from 307 grams in 2013-14 to 394 grams…

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Egypt’s biggest port nearing completion

DP World Sokhna recently celebrated its 10th anniversary by announcing it is near completion of a major expansion project that will bring DP World’s total investment in Egypt to $1.6 billion. Basin 2 will be operational by the second quarter of 2020 and nearly double capacity at the port to 1.75 million TEUs per year. The expansion cements DP World Sokhna’s position as a major gateway for Egypt’s trade, and the only port in the country capable of handling the largest container ships in the world. Built at a cost of…

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