India extends US$392mn loan for power plant in Sudan
New Delhi: India has cleared a loan of US$392mn through two lines of credit from the Export-Import bank (Exim) for setting up a 500 mw power plant and a transmission line project in Sudan.

The agreement was signed between Exim bank executive director RMV Raman and Sudan's undersecretary, ministry of finance, El Sheikh Mohamed El Mark in New Delhi in the presence of senior officials and Bhel chairman and MD AK Puri. The project costs about US$500mn and is being shared by the two countries, with the Exim bank of India giving credit lines of US$392mn.

Besides setting up a power plant for which a line of credit for US$350 million has been agreed upon, Exim bank also signed for another credit of $41.90 million for setting up a transmission line and sub-station.

The loan is for a period of nine years, plus a moratorium period of three years. Bank officials said that the loan has been given at a fixed rate of interest of 4 per cent and the repayment would be made in cash.

The government of Sudan has also given oil mortgage guarantee against the loan, whereby Sudan would compensate through oil supply in case it was unable to repay in cash.

Bhel will set up the project on a turnkey basis with crude oil-fired boilers. The government of Sudan plans to expand the project to 3,000 mw to meet the country's fast growing electricity needs. This would open up more opportunities for Bhel, Sudan government officials said, adding they were keen that Indian companies set up manufacturing base there to tap the African and Middle-East market.
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PM: Lasting solutions for the power sector
Hyderabad: The United Progressive Alliance Government will soon shift its focus to accelerating power sector reforms, prime minister, Dr Manmohan Singh, said here on Monday. Dr Singh said, "We will address problems in the power sector and find lasting solutions."

Putting political realities and economic achievements of the 20-month-old Congress (I)-led UPA rule in perspective in his address at the All India Congress Committee's (AICC), 82nd Plenary here on Monday, Dr Singh listed five major initiatives that he said would transform the lives of ordinary people. These include the National Rural Employment Guarantee Act, 2005; National Rural Health Mission; Jawaharlal Nehru National Urban Renewal Mission; Rajiv Gandhi Grameen Vidyutikaran Yojana and Bharat Nirman.

On globalising the economy, Dr Singh said, "We have taken major initiatives to integrate our economy with that of East Asia, South Asia, West Asia and South-East Asia. The countries of our East have once again embraced us and invited us into a new Asian community. Next week, the Saudi King will visit us for the first time in 50 years. Similarly, the US President, Mr. George W.

Bush, and Mr. Jacques Chirac of France, would be coming to India and our relationships are growing with them as well as with the EU, Russia and Japan."
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EGoM to broaden RFP parameters on modernization of airports
New Delhi: The Empowered Group of Ministers (EGoM) looking into the modernisation plans of Delhi and Mumbai airports may seek to broaden the scope of the parameters mentioned in the RFP (Request For Proposal) documents in order to examine more bidders than those that had qualified the technical evaluation.

If all goes according to plan, the EGoM will authorise changes in RFP documents and the top three bidders for Delhi and Mumbai will be called the next day to Rajiv Gandhi Bhavan where their financial bids will be opened. The bidder allotting maximum share to the Airports Authority of India may be chosen.

The panel of eminent experts headed by Delhi Metro chief E. Sreedharan has now re-ranked all the bids with minor changes in their marks. As a result, the order has remained the same with GMR-Fraport and Reliance-Mexican airports retaining the top two positions in the technical round at both Delhi and Mumbai.

But by broadening the scope, DS Constructions-Munich Airports emerges with a chance at Delhi while GVK-South African airports gets to have a go at Mumbai airport.
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