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‘RenewX’ Accelerating the Renewable Energy Industry Confluence

‘RenewX’ Accelerating the Renewable Energy Industry Confluence

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INS #Visakhapatnam commissioned into Indian #Navy

INS Visakhapatnam commissioned into Indian Navy

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The 52 km long rail line connecting Sevoke in West Bengal with Rangpo in Sikkim is now projected to be operational by December 2023. The construction of the rail line, which will have six stations, started in 2009. It was initially scheduled to be completed by 2015 but has been facing challenges due to difficult terrain and land-related hiccups, which caused a delay in the project. The estimated cost of the project has also increased from Rs 1,300 crore to over Rs 5,000 crore.

West Bengal-Sikkim rail link to be operational by December 2023

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To contribute India's commitment to increase non-fossil energy capacity to 500 GW by 2030, coal and lignite companies have planned to install additional 5,560 MW of renewable capacity in the country with an investment of over Rs 15,000 crore. This will take the total installed capacity to seven GW. Coal India (CIL) alone has planned to install three GW of solar power in the next five years to achieve its net zero target. A full-fledged sustainable development cell (SDC) in the coal ministry has been established to advise, mentor and plan action to minimise the adverse impact of mining. Apart from suggesting the way forward, its implementation and monitoring, SDC is also formulating a future policy framework for environmental mitigation in the coal and lignite sector of the country. Extensive work by CIL and its subsidiaries along with Singareni Coal Company (SCCL) and NLC India (NLCIL) has already started, effect of which could now be seen in some of these mining companies. In the next five years, target is to cover more than 12,000 ha of land for plantation, which will help in having carbon sink potential to the tune of more than one lakh tonne per annum. Monitoring of such efforts is being done through remote sensing. First-mile connectivity (FMC) is a major initiative by coal companies to minimise environmental pollution, where coal is being transported through conveyor belt from coal handling plants to silo for loading. This process eliminates movement of coal through road. Taking a big step, 39 such projects have been planned to be commissioned by 2023-24 with an investment of over Rs 13,000 crore. CIL alone will enhance its mechanical loading and transport of coal from the present level of 120 million tonne to 565 million tonne by 2023-24. These FMC projects will save diesel worth Rs 2,100 crore per annum. There will be a reduction in vehicle density by 2,770 trucks per hour paving the way for significant reduction in carbon emission. Similarly, surface coal gasification projects have been planned for syngas production to be used further either for production of methanol/ethanol, urea or petrochemicals. This will be a way forward for use of the dry fuel as green coal with relatively lesser carbon footprintand environmental pollution, it added. One such CIL joint venture (JV) project of 2.5 million tpa capacity is already in operation in Talcher Coalfield in Odisha. Other five projects with an investment of about Rs 30,000 crore is under formulation by various subsidiaries of CIL. The use of LNG to substitute diesel consumption in mining and coal transport equipment has also been planned on a massive scale. A pilot project has been initiated in one of the coal companies. This technology will be replicated shortly in coal transporting dumpers in the first phase for substantial reduction in carbon footprint, the statement said. On showcasing the clean environment front, 12 new ecoparks in mining area are under different stages of development in all the subsidiaries of CIL, SCCL and NLCIL, and will be completed by 2022. Extraction of sand from overburden (OB) dump for use in construction is another unique initiative for sustainable development.

Coal, lignite firms to install 5,560 MW renewable energy capacity

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Axon Developers acquire 2 stress projects, to invest Rs 350 crore

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Grofers is planning to open 150 dark stores by December 2021, taking the total count to 350, for quick commerce to deliver orders in about 10 minutes. The company claims to have a three million monthly order run rate and growth of 3.5 times in the last two months while gaining one million quick commerce users.

Grofers to open 150 more dark stores by December 2021

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Steel Authority of India (SAIL) has supplied around 50,000 tonne of steel for the Purvanchal Expressway in Uttar Pradesh. Prime Minister Narendra Modi on 16 November 2021 inaugurated the 341-km-long Purvanchal Expressway, which connects Lucknow to Ghazipur in eastern Uttar Pradesh. The total products supplied for the project were TMT Bars, structurals and plates. The expressway will substantially improve the road connectivity among several districts of Uttar Pradesh. The company earlier supplied steel for projects like Eastern and Western Peripheral Expressways, Atal Tunnel, Bogibeel and Dhola Sadiya bridges.

SAIL supplies 50,000 tonne steel for Purvanchal Expressway

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A five-year integrated development plan for the coffee sector with an outlay of Rs 1,200 crore is in the offing. The proposed integrated development plan has received approval from the Commerce Ministry, Finance Ministry, NITI Aayog and the Prime Minister’s Office, is expected to be placed before the Union Cabinet shortly. The proposed scheme prepared by the Coffee Board, in consultation with stakeholders, has many components such as assistance for re-plantation, revival of white stem borer-affected arabica plantations, productivity improvement of robusta holdings by gap filling with elite clones and collar pruning, water augmentation, quality upgradation - eco pulpers, drying yards, roasting and grinding units, formation of FPOs and exports promotion, among others. Once the Cabinet clears the proposal, the scheme will be implemented with immediate effect. As part of the proposed plan, a Centre of Excellence (CoE) for coffee entrepreneurship is being planned to groom the next generation.

Five year integrated plan in offing for coffee sector

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Switch Mobility to supply 300 e-buses to Bengaluru

Switch Mobility to supply 300 e-buses to Bengaluru

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Phoenix Mills (PML) and the Canada Pension Plan Investment Board (CPP Investments) have announced a new joint venture (JV) to develop an office-led mixed-use asset in Lower Parel, Mumbai. The asset forms part of a larger mixed-use development at Phoenix Palladium, Mumbai. CPP Investments will commit to investing approximately Rs 13.5 billion (CAD 231 million) in tranches, for an ultimate equity stake of 49 percent in Plutocrat Commercial Real Estate Private (PCREPL), the entity that will own the asset. With the funds invested by CPP Investments and PML, PCREPL will develop office space with a potential leasable area of approximately one million sq ft and flagship retail space with a potential leasable area of approximately 0.2 million sq ft. The target completion date for the development is 2026. The office-led mixed-use asset will complement the existing retail development at Phoenix Palladium, Mumbai and The St Regis, Mumbai. PML and CPP Investments’ first joint venture, Island Star Mall Developers (ISMDPL), was formed in 2017 to develop, own and operate retail-led, mixed-use developments across India. Phoenix Marketcity in Whitefield Bengaluru served as the seed asset for the alliance. In addition to owning and operating Phoenix Marketcity, ISMDPL owns and is currently developing three retail-led, mixed-use developments at Wakad Pune, Hebbal Bengaluru and Indore. In May 2021 a second joint venture between PML and CPP Investments was formed to develop a regional retail centre in Alipore, Kolkata. Cumulatively, CPP Investments’ equity commitment in multiple JVs with PML now stands at approximately Rs 41 billion (CAD 709 million).

Phoenix Mills, CPP Investments collaborate to develop mixed-use asset in Lower...

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