Centre favours SPV model for hydro
power projects
New
Delhi: The Centre has asked State Governments and
implementing agencies to use the special purpose vehicles
(SPV) model for expeditious development of large hydroelectric
power projects in the country.
The
`Guidelines for development of hydro electric projects',
issued by the ministry of power, envisages the SPVs working
independently to reach a stage where major tie-ups, statutory
clearances and linkages are in place for project construction
to take off.
The
guidelines call for the need to build storage reservoirs
as India's per capita storage capacity for water is among
the lowest in the world.
"There
is a need to build such reservoirs in the upper reaches
of the rivers before they enter the plains as suitable
sites are mostly on the hills," it said, adding that
the guidelines for large storage reservoir multi purpose
hydro projects, having live storage capacity of over 30
days, should only be taken up by private sector players
through memorandum of understanding with Government or
public sector agencies.
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Govt
to electrify 40,000 villages in current fiscal
New Delhi: Having already electrified 10,000 villages
in the last fiscal, the Government has now set a target
of providing electricity connection to 40,000 villages
in 2006-07.
"We
have achieved the target of providing grid connection
to 10,000 unelectrified villages in 2005-06. This year
we would add another 40,000 villages," power minister,
Sushilkumar Shinde, said after launching the national
programme for franchisees to connect unelectrified villages.
Shinde
said the Government planned to add another 50,000 villages
in the subsequent two years, to meet the target of connecting
all un-electrified villages by 2008-09.
The
country has a total of 6,00,000 villages, of which 1,25,000
villages were unelectrified as on April 2005, when the
Government launched the Rajiv Gandhi Grameen Vidyutikaran
Yojana. While 1,00,000 villages are planned to be connected
to the grid by 2008-09, the remaining villages will be
provided power through grid-independent schemes.
The
Power Secretary, Mr R. V. Shahi, said the entire programme
entailed an estimated investment of Rs16,000 crore. Of
this, Rs5,000 crore was approved for capital expenditure
during 2005-06 and 2006-07, he said, adding the balance
amount would be utilised during the first two years of
the 11th Plan period.
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Govt
urged to strengthen infrastructure
at major ports
Mangalore: The All-India Port and Dock Workers'
Federation has stressed the need to strengthen infrastructure
at major ports to achieve the cargo traffic target for
2006-07.
Speaking
to newspersons, S.R. Kulkarni, president of the federation,
said that the Union Shipping Ministry has fixed a cargo
traffic target of 455 million tonnes for major ports for
the current fiscal.
"The
target is not in conformity with the infrastructure and
other facilities available in the major ports," he
added.
Besides,
the policy of the Government to encourage privatisation
of port activities and development of minor ports without
evaluating diversion of traffic will create hurdles for
achieving the target, he said.
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TRAI
for more consumer transparency
New Delhi: TRAI has said that despite repeated
directions to the service providers it was being felt
that the service providers were not giving adequate importance
to consumer transparency issues.
"Several underlying information relating to tariff/service
are not being explicitly brought out during the process
of offering,
promoting
and marketing the products. This has led to consumer dissatisfaction
and the credibility of the service providers is being
questioned," said a TRAI release.
TRAI
said that with the service providers rolling their networks
to areas outside metros and large towns, a large proportion
of new subscribers would be from non-urban areas and the
socio-economic standing of this population calls for further
strengthening of the consumer protection measures. "The
authority has also asked the service providers to provide
printed material in English and vernacular language to
customers at the time of enrolment," said the release.
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Govt
clears first FDI proposal in retail
sector
New Delhi: Foreign direct investment (FDI) in the
retail sector took off on Tuesday with the Government
clearing its first proposal. The Government had permitted
FDI up to 51 per cent in retail trade in February.
The
Finance Minister, Mr P. Chidambaram, has approved the
first proposal to set up single brand retail store with
FDI to a little known Haryana-based company - Moja Shoes
Private Ltd. The foreign entity is Mauritius-based Tano
India Private Ltd Fund-I, which would bring in FDI worth
Rs2.85 crore into the capital of Moja Shoes, according
to an official release.
This
proposal was among the total of 12 FDI proposals approved
by the Finance Minister, involving FDI worth Rs371.84
crore in various sectors.
The
Moja-Tano joint venture would be setting up an exclusive
retail outlet for Nike products that would include footwear,
sportswear, boots, slippers, sandals, athletic shoes and
apparels of the same brand, the release added.
Among
the other proposals approved by the Minister, the largest
is the proposed conversion of foreign currency convertible
bonds (FCCBs) worth Rs 250 crore issued by Deccan Chronicle
Holdings Ltd into equity shares not exceeding 10 per cent
of the company's share capital.
The
Thailand-based hospitality group AAPC (Thailand) Ltd,
too, has been given the permission to invest Rs 80 crore
in AAPC (India) Hotels Management Private Ltd for operating
and managing hotels in India, Nepal, Sri Lanka and Bangladesh
under various Accor brands. The company has also been
granted permission for conversion of status from operating
company to operating-holding company.
Global
telecom major AT&T Inc, too, has received approval
to invest up to 74 per cent in a joint venture company
with the Mahindra's involving FDI worth Rs 18.5 crore,
the release said. This proposal was earlier deferred by
the FIPB following the Department of Telecom seeking some
clarifications.
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