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Surya Sarathi Ray

Articles By Surya Sarathi Ray

852 Articles

Highway construction on record breaking spree! Work reaches scorching pace

Adjusting for the first 20 days of April 2020 wherein no construction activity was allowed, the execution per day saw a growth of 21% to 30.5 km/day in the first nine months of the current fiscal from 25.2 km/day in the same

French firm Egis plans €75-m investment in India in five years

Egis is 75% owned by Caisse des Depots, a French public financial institution, while the remaining 25% stake is held by partner executives and employees.

Egis is 75% owned by Caisse des Depots, a French public financial institution, while the remaining 25% stake is held by partner executives and employees.

National Highway construction process on fast track: Adani, DP Jain & Co. win TOT bids

Exercising flexibility bestowed upon it by the government, NHAI set the lease period to 20 years for the two bundles on offer under fifth round of TOT. Both the bundles are part of NH-27 in Gujarat.

The floor price or the initial estimated concession value (IECV) would rather be disclosed only after selecting the bidder.

Surveys to capture the big picture of employment: DPS Negi, director general, Labour Bureau

Conducting five surveys at one go is itself a huge challenge. Normally, such a large-scale survey takes 1.5-2 years to complete the whole process.

DPS Negi, director general, Labour Bureau

Non-coal mining leases: Pace of auction slows in 2020-21

Of the total 103 leases allocated, 37 are iron ore, 30 limestone, six iron ore & manganese, seven bauxite, five leases each for graphite and manganese, six gold, three chromite, two leases each for copper and diamond.

The estimated value of the resources in the 103 leases auctioned so far is a little over Rs 8 lakh crore. States are likely to garner Rs 8.27 lakh crore revenue from these mines over the 50-year lease period.

Kamdhenu looking to divest 20% stake in paint business

Kamdhenu will initiate talks with the private equity players soon after getting various statutory approvals, including the one from the National Company Law Tribunal (NCLT), for the paints business demerger plan.

The company will soon start the process of demerging the paint business.

Don’t privatise Rashtriya Ispat Nigam: Andhra CM Jagan Mohan Reddy to PM Modi

Andhra CM says steps like conversion of debt into equity, allocation of captive iron ore mine will enable the loss-making CPSE to turn around

SAIL raises capex target for FY22 to Rs 8,000 crore

SAIL had a capex of Rs 970 crore in the third quarter of 2020-21, and in the first nine months of the current fiscal its capex spent was Rs 2,445 crore.

In 2020-21, SAIL’s original capex guidance was Rs 4,000 crore, but the state-run firm revised the target upward, presumably on government directive.

Formal sector jobs: Outlay for incentive scheme slashed

While approving the scheme, the Cabinet had, on December 9, scaled down the estimated outlay for ABRY to Rs 1,584 crore for 2020-21. The scheme's outlay for 2021-22 is Rs 3,130 crore, as per the Budget presented on Monday.

Only 6.4 lakh new subscribers joined the EPF scheme in November, far lower than 7.7 lakh in October and 11.4 lakh in September, showed the latest monthly payroll data released by the Employees’ Provident Fund Organistaion (EPFO).

Union Budget 2021: Reduced MG-NREGS outlay for FY22 may not suffice to meet demand

Union Budget 2021 India: A total of 322.11 crore person days of work have been created under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MG-NREGS) so far in the current fiscal with a total expenditure of Rs

MGNREGA,economy

Steel makers may not cut prices anytime soon despite easier imports

“This is because, by doing away with the ADD and CVD with effect from February 2, the government has clearly sent out a message to the steel industry that they can not raise prices at their free will, inflating the cost of

China’s share in the total imports in December 2020 declined to 20% from 27% in December 2019.

Budget 2021: In a big boost, road transport and highways ministry receives its highest allocation ever in Union Budget

Union Budget 2021: The FY22 capital allocation for MoRTH at `1,08,230 crore is the highest-ever for the ministry — in FY21, this stood at `81,975 crore, and in FY20, at `68,373 crore (actual).

Union Budget 2021

JSL to finalise plan to nearly double capacity at Jajpur plant

“Currently, the Jajpur plant has 1.1 mtpa capacity. We will start working on the expansion sometime this year to increase the capacity to two mtpa in three years,” JSL’s managing director Abhyuday Jindal said.

At present, demand for stainless steel is “very good”, Jindal said, adding that the future also holds bright for the segment.

Mines ministry proposes policy changes to spur iron ore production

In case, the lessee fails to maintain the minimum dispatch criteria for three consecutive quarters, “the state government may terminate such lease after giving a reasonable opportunity of being heard.”

Still, several successful bidders of those working mines failed to start production even after the lapse of 7-8 months of auction and execution of mining leases in their favour.

NHAI’s fifth TOT bundle: At least six firms submit bids

Under the fifth round of TOT, NHAI is offering a 20-year lease period for two bundles with a total length of 159.5 km. The last date for submission of the bids for both the bundles was January 18.

While the technical bids were opened on Tuesday, the financial bods of the technically-qualified bidders will be opened in a fortnight, a source in the authority said.

NHAI sets ambitious project awards target for Q4

A senior NHAI official said total highway project awards in the current fiscal could be in the range of 4,800-5,200 km, higher than the 4,500-km orignal target the authority had set for itself for the current fiscal.

In the whole of 2019-20 fiscal, NHAI had awarded 3,211 km national highways, up from 2,222 km in 2018-19.

WFH norms may apply to manufacturing sector too

“Let the comments come,” labour secretary Apurva Chandra said when asked whether the government will pay heed to suggestions that some activity under the manufacturing sector should also be given flexibility to work from

Along with labour expert KR Shyam Sundar, he also, however, said that individual organisation should have the discretion of allowing the WFH facility to its employees.

Centre wants states to review labour laws for harmony with new central codes

Sources said the union labour ministry has decided to appoint legal advisors soon, mandating them to examine whether the state laws are in sync with the central codes. If the harmony is found to be lacking, then states will b

Deep mining: Over 500 non-coal mineral blocks up for grabs

Sources said the Cabinet also gave the go-ahead for reallocation of several non-producing blocks of the state-run companies, a move that could also enthuse the private players as many of these blocks have abundant proven reso

The cabinet has also approved introduction of an index-based mechanism by developing a National Mineral Index (NMI) for various statutory payments and others for future auctions.

NHAI to set up performance threshold for highway bidders

Anything less than the cut-off mark, which is yet to be decided, on these parameters will mean the bidding process to be out of bounds for the aspiring investor.

Sources said suitable amendments in the bidding documents will be incorporated to make a rating of the concessionaires as one of the qualification criteria for awarding new projects.

‘India’s structural steel consumption poised for big growth’

With 10 plants producing around 2.5 million tonnes per annum, APL Apollo Tube is the largest producer of structural steel tubes in the country.

New work from home rules in 2021? Govt readies proposal to formalise WFH facility for services sector

For the manufacturing sector, the standing order governing work conditions was applicable in organisations having 100 or more workers until last year.

However, regulatory parameters for WFH have not been prescribed.

Soma Mondal to take over the reins of SAIL as its first woman chairperson

The saving grace for the new chairperson, currently the company’s director-commercial, however, is the sharp rise in steel prices and its possibility of holding at the elevated level on the back of higher demand and iron or

A section of SAIL’s employees’ union has already conveyed their displeasure over the issue to Mondal, but assured full support to the new chairperson in her endeavour to take the company to a greater height.

Facing flak from different quarters, steel manufacturers defend price hikes in letter to PMO

Gadkari has been vocal against the steel firms for raising prices by 55% in the last six months. The minister had also written to the Prime Minister Narendra Modi seeking his intervention to arrest the trend.

Budget 2021-22, Union Budget 2021

NHAI’s debt to cross Rs 3 lakh crore by March, touch Rs 3.7 lakh crore by FY22-end

On the construction front, the authority’s target for the current fiscal is 4,500 km compared with a record of 3,979 km construction in the last fiscal.

So far in the current fiscal, NHAI has raised Rs 33,500 crore debt of which Rs 5,000 crore has been raised as long-term loan from the State Bank of India, Rs 1,500 crore through 54 EC bonds and Rs 27,000 crore through taxable bonds.

Delhi-Mumbai expressway: NHAI arm to raise Rs 46,000-crore debt in 2-3 years

This fiscal, we (the SPV) need to borrow a little less than Rs 10,000 crore, but we already have got offers for Rs 29,000 crore from banks and financial institutions. It shows the success of the SPV model. We will see who off

The National Highways Authority of India (NHAI) invested Rs 90,000 crore or 84% of its FY21 target in April-January.

Steel prices hiked for the second time in a week

A second hike during the month, on the back of buoyant domestic demand, was largely anticipated since the domestic HRC prices, even after the first hike in December, were at a 6% discount to import parity prices from China. A

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