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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