Tag: transport

IOCL, Roads and Highways Department of Bangladesh ink MoU

19/08/2016 12:57

The Indian Oil Corporation Ltd (IOCL) and the Roads and Highways Department of People’s Republic of Bangladesh has signed a Memorandum of Understanding (MoU) in Dhaka, as per the government release.

The MoU enables IOCL to send its trucks carrying Motor Spirit, High Speed Diesel, Superior Kerosene Oil & Liquefied Petroleum Gas from Meghalaya to Tripura via territory of Bangladesh, it added.

The release further said that, the validity of this facility is till end September, 2016 and both sides have also agreed to extend the transit facility for a further short period on need basis.

The work on the broad gauging of the railway track in the North-Eastern region has shifted the goods vehicle traffic on to the roads. Further, due to heavy rains in the region this Monsoon, the roads, including NH 44, have been affected resulting in non plying of goods trucks, including those carrying petroleum goods to Tripura. This resulted into a situation of scarcity of essential petroleum goods, the report added.

The Bangladesh Government, given the friendly, multi-dimensional and expanding bilateral relations between the two countries, agreed to India’s request for facilitation of the movement of IOCL trucks carrying petroleum goods to Tripura through its territory. While alternate measures are also being taken to address the situation, the facilitation extended by the Bangladesh Government under the MoU is expected to improve the situation of shortage of petroleum products in Tripura in appreciable measure.

Domestic car sales up 9.62% in July

Domestic car sales up 9.62% in July

10/08/2016 12:28

Domestic passenger car sales rose by 9.62 per cent to 1,77,604 units in July as against 1,62,022 units in the same month last year.

According to figures released by the Society of Indian Automobile Manufacturers (SIAM) on Wednesday, motorcycle sales in the country rose 10.98 per cent during the month to 8,97,092 units from 8,08,332 units in the corresponding month last year.

Total two-wheeler sales rose by 13.52 per cent to 14,76,340 units last month from 13,00,457 units in July last year.

Sales of commercial vehicles rose marginally to 51853 units in the month under review from 51795 units in the year-ago period, SIAM said.

Total sales of vehicles across categories registered an increase of 13.22 per cent to 18,33,976 units in July as against 16,19,771 units in the same month last year, it added.

Railways to run trains at 500 km/hr to reduce travel time

Railways to run trains at 500 km/hr to reduce travel time

10/08/2016 10:47

The Indian railways has said that it is exploring the possibility of running trains at about 500 km per hour speed to reduce travel time considerably between two cities.

Commenting on the issue, Railway Member (Rolling Stock) Hemant Kumar told the media, “Railways has sought introduction of Maglev (magnetic levitation) trains, a second generation high speed train running in China, Japan, Germany and South Korea, in the country and accordingly floated expression of interest.”

“Three companies – two from US and one from Japan have so far shown interest. The last date for submitting the bids is September 6,” he added.

As per reports, Maglev train floats above the track by about 1 inch to 6 inches on a cushion of magnetic power. The track magnets are controlled by computers which keep shifting forward the magnetic force of the track magnets so that the Maglev train is pulled forward.

Car sales decline 5.18%, passenger vehicle up 2.68% in June: SIAM

11/07/2016 12:54

Domestic passenger vehicle sales increased 2.68 per cent to 2,23,454 units in June from 2,17,620 units in the same month last year.

However, car sales were down 5.18 per cent to 1,54,237 units as against 1,62,655 units in June last year, according to data released by the Society of Indian Automobile Manufacturers (SIAM).

Motorcycle sales last month increased 7.52 per cent to 9,43,680 units as against 8,77,690 units a year earlier.

Total two-wheeler sales in June grew 12.26 per cent to 14,68,035 units as compared with 13,07,704 units in the year- ago month.

Sales of commercial vehicles were up 5.63 per cent to 56,032 units in June, SIAM said.

Vehicle sales across categories registered a growth of 10.7 per cent to 17,95,894 units from 16,22,254 units in June 2015, it added.

Railways to sell garbage at stations

08/07/2016 12:08

Keen to generate non-fare revenue from various sources, Railways is firming up proposals to sell the garbage generated at stations across the country, said the media report.

“We are examining a proposal from a waste management group which has offered Rs 1.50 per kg for garbage to be collected at railway stations,” said a senior railway official involved in exploring various avenues for generating non- tariff revenues.

Railways has created a separate Non-Fare Revenue Directorate to find ways for generating substantial revenue from sources other than passenger fares and freight.

The waste management company will collect the garbage from stations round-the-clock.

“The collection and disposal of garbage will be the company’s responsibility. It can be utilised for generating energy and manure,” the official said.

Risk insurance cover for workers involved in garbage collection, provisions of black plastic bags for carrying it from dustbins at stations will be the responsibility of the waste management company, according to the proposal.

The company has offered to take up garbage collection at 12 stations, including Amritsar, Ambala, Haridwar, Jammu, Katra, Dehradun, Moradabad, Saharanpur, CST, Mumbai Central and Dadar.

It will serve the dual purpose of maintaining cleanliness at stations and also generate revenue for railways, he said.

NHAI awards Rs 895 cr road project in Rajasthan to L&T

NHAI awards Rs 895 cr road project in Rajasthan to L&T

07/07/2016 11:21

The National Highways Authority of India (NHAI) has awarded a Rs 895 crore project in Rajasthan to Larsen & Toubro.

“The NHAI has issued Letter of Award (LOA) for development of 4-laning of Bar-Bilara-Jodhpur section in Rajasthan under phase IV of National Highways Development Projects (NHDP) to Larsen & Toubro,” Ministry of Road Transport & Highways said in a statement.

The 111 km section connects the western Rajasthan and border area (Jodhpur-Jaisalmer-Barmer) to eastern part of the state – Ajmer and Jaipur.

The stretch will be four-laned at a cost of Rs 895 crore, it said.

“This is a major strategic route connecting Jodhpur as an important feeder route during war time. Four-laning of the section will permit smooth flow of military traffic as well as heavy commercial and domestic traffic. It will also facilitate transportation of mining and agriculture product,” the statement said.

The project will have two bypasses, one at Bar (3.25 km)and another at Bilara (6.70 km), 4 flyovers, 3 pedestrian under passes, 4 major bridges and one railway over bridge.

The project would be executed on EPC (engineering, procurement and construction) mode and is scheduled for completion in 30 months from the date of commencement.

Centre sanctions 56 national highways for HP: Nadda

05/07/2016 09:09

The Union Ministry of Road Transport and Highways has sanctioned 56 national highways to Himachal Pradesh with a total length of 3,993 km, Union Health Minister J P Nadda said and requested the state government to expedite preparation of detailed project reports (DPRs), reported PTI.

Addressing a press conference here, Nadda said Union Minister for Road Transport and Highways Nitin Gadkari had visited all four Lok Sabha constituencies of Himachal Pradesh and discussed the requirement of roads with all concerned including chief minister, ministers, MLAs, MPs and other local representatives and approved 56 road projects.

The NDA government sanctioned four National Highways (NH) last year and with 56 new roads, the total number of highways would go up to 60 and Rs 13,000 crore would be spent on it, he said.

Nadda said the NDA government, led by Prime Minister Narendra Modi, has been very liberal towards Himachal Pradesh.

There has been phenomenal rise in devolution of funds to the state and share in central taxes had been increased from 32 to 42 per cent while the grants-in-aid have increased.

The funding of centrally sponsored schemes in the ratio of 90:10 between the Centre and the state against the ratio of 60:40 had been restored due to intervention of Modi.

Fifty-eight district hospitals, including three in Himachal Pradesh, have been upgraded into medical colleges and Rs 40 crore has been provide for establishing a medical college in Nahan, he said.

Commercial vehicle loans recover in 4Q FY’16: Ind-Ra

Commercial vehicle loans recover in 4Q FY’16: Ind-Ra

14/06/2016 14:15

India Ratings and Research (Ind-Ra), a global rating agency, has said that the recovery that started in commercial vehicle loans in the 2014 originations has picked pace for 2015 originations.

As of fourth quarter of financial year 2016, the weighted average (WA) 90+dpd delinquency in the 2015 vintage stood at 1.03 per cent (WA amortisation: 50%), which is 142bp lower than that in the 2014 vintage for similar seasoning levels and indicates a recovery.

Tractor loan portfolios across originators continue to show heightened stress with no improvement in 90+dpd delinquency for 2014 and 2015 vintages unlike commercial vehicle loans where the stress has subsided for recent vintages. While the agency maintains a negative outlook on tractor loans, the ratings of the current transactions may not be impacted due to a higher level of amortisations and credit enhancement build-up.

The stress in construction equipment loans remains elevated with little signs of recovery even after significant seasoning. The plateau observed in 90+dpd delinquency indicates that CE borrowers continue to face stress and are unable to repay loans after missing payments on over three instalments. As of 4Q16, the 180+dpd delinquency increased by 263bp to 3.90% in the 12 months ended March 2016, showing no reversal of loans to lower delinquency buckets.

A stable performance was observed in Ind-Ra rated mortgage loans owing to steady delinquency rates and high prepayment and amortisation levels.

Railways to invest $140 bn on infra in 5 yrs: Min

Railways to invest $140 bn on infra in 5 yrs: Min

10/06/2016 10:38

Indian Railways has said that it will invest USD 140 billion over the next five years in infrastructure and improving the mobility of its services.

Commenting on the issue, Rail minister Suresh Prabhu told the media, “Indian Railways will invest USD 140 billion in the next five years. We have invested Rs 94,000 crore and additionally we have decided to issue contract of Rs 40,000 crore for locomotives.” “The country needs to invest 10-11 percent of GDP in infrastructure in order to give a fillip to economic growth. Our focus has been on infrastructure and among various sectors in infrastructure transportation is the prominent one,” he added.

The minister further added that the Indian Railways was working on a “mobility directory” to bring in all the elements of infrastructure to increase the average speed of travel,” he added.

Auto industry asks govt for rupee trade with African nations

Auto industry asks govt for rupee trade with African nations

09/06/2016 16:14

Indian automobile industry has approached the government to consider a rupee-based payment mechanism for trading with African nations as companies face a major hurdle in dollar-denominated payout, reported PTI.

The industry has also asked for negotiating free trade agreements (FTAs) with more Latin American countries like Chile, Peru and Colombia to boost exports from the country.

“We have approached Ministry of Commerce for rupee trade with African countries as we are facing a challenge in dollar trade in these big export markets like Algeria and Nigeria,” Society of Indian Automobile Manufacturers (SIAM), Deputy Director General Sugato Sen told reporters.

These countries cannot make payments in dollars and that is impacting the trade with these nations, he added.

“So we have asked the Commerce Ministry to negotiate rupee trade with these countries. It is a long term bilateral thing and these countries also need to study it,” Sen said.

Of the total automobile exports of around USD 8.86 billion in 2015-16, Africa alone accounted for 30-35 per cent of the total overseas shipments in value terms.

With issues like falling prices of crude and commodities, African countries are facing issues with dollar payments.

Countries like Algeria, Nigeria and Morocco are among the major export markets for domestic automobile industry.

SIAM has also approached the Commerce Ministry for FTA’s with more Latin American nations to safeguard exports to these markets.

“These countries are inking FTAs with various competitors like South Korea, Japan and the US and as a result due to the enhanced competition our position is getting eroded. So we are seeking FTAs with more countries in the continent,” Sen said.

In the past few years there has been a clear shift in automobile exports from developed regions like EU to developing markets like Africa, Latin America and ASEAN region, he added.

Automobile exports from India to Latin America stood at USD 91 million in 2004-5. It grew to USD 1,044 million in 2013-14.

ASEAN, Africa and Latin America are the fastest growing markets for automobile exports from India since 2004-05.

However, the country’s exports to SAARC nations have been declining which is a cause of worry, Sen said.