India to invite private firms to build strategic crude oil reserves - 18 Oct 2012 - Live Mint
Published On :2012-10-22 16:17:00
ew Delhi: India will invite private companies to build
and operate strategic crude oil reserves to augment its protective storage of
Strategic reserves are a country’s answer to counter any short-term disruptions
in energy supplies. These are typically state-funded and meant to tackle
emergency situations. More..
“We have decided to opt for the public-private partnership
(PPP) route for setting up future strategic crude oil reserves,” said a
government official, requesting anonymity due to the sensitive nature of the
Private sector involvement has been sought to help the government meet the fund
requirement given high crude oil prices. This involvement is meant for the 12.5
million tonnes (mt) of additional strategic storage facility planned during the
12th Plan period (2012-17).
Participation will be allowed on the condition that crude oil should be
available for release at the government’s discretion. Crude oil from these
reserves will be released in situations when there is a short-term supply
disruption, a natural calamity or a global event such as a war that may lead to
an abnormal increase in prices.
G.C. Chaturvedi, India’s petroleum secretary, confirmed
the development: “We are exploring the PPP option.”
Indian Strategic Petroleum Reserves Ltd, a subsidiary of the Oil Industry
Development Board, is constructing three strategic storage facilities at
Visakhapatnam, Mangalore and Padur that have a combined capacity of 5.39 mt
(1.33 mt, 1.50 mt and 2.56 mt, respectively), capable of sustaining 15 days of
But the Visakhapatnam facility, which was to be commissioned by October, has
been delayed due to geological issues. The Mangalore and Padur facilities, which
are to be commissioned by 2013 and 2014, respectively, are also running late by
a few months.
PPP is the only model left for development: ASSOCHAM - 17 Oct 2012 - My Iris
Published On :2012-10-22 16:16:00
As the Centre is able to spend
less than 15% of its entire expenditure budget on creating capital assets, the
only way left for India to build infrastructure such as roads, ports and
airports is to push the public-private partnership (PPP), an ASSOCHAM study
pointed out. More..
Of the total expenditure of Rs 14.90 lakh crore budgeted for the current
financial year, only Rs 2.04 lakh crore would be spent on building the capital
assets, under the head 'capital expenditure'.
This is almost near about the money the government would end up paying for major
subsidies. Although Rs 1.80 lakh crore has been provided for the major subsidies
like food, fertilizer and oil, the initial trends show that the government will
end up paying more than this amount.
The money earmarked for the capital expenditure is much less than the Central
Government has to pay for interest on its borrowings. As much as Rs 3.19 lakh
crore would be paid for the interest payments. In fact, the interest payments
would claim more than half of new borrowings of Rs 5.14 lakh crore that the
government would resort to in the current fiscal of 2012-13, as per the Budget
PPP projects catch US delegation eye - 12 Oct 2012 - Indian Express
Published On :2012-10-16 16:15:00
The Public Private partnership
projects of Uttar Pradesh Government, especially expressways, civil
aviation and power have attracted interest of US India Business Council (USIBC),
the delegation of which met Chief Minister Akhilesh Yadav and senior officials
of the state Government on Friday. A presentation about the upcoming new
projects in the state was made before the delegation. They also expressed
interest in compressed and piped natural gas network which the government plans
to establish in 21 cities across the state.
The delegation, led by chairman of USIBC, Ajay Banga and president Ron
Somers, has invited Akhilesh to visit US in the month of January to interact
with the entrepreneurs, following which a delegation of entrepreneurs from the
US would visit Uttar Pradesh in the month of March with specific proposals for
investment across state.
Haryana has lion's share in urban development projects under construction in the PPP mode: ASSOCHAM - 11 Oct 2012 - India Education Diary
Published On :2012-10-15 16:14:00
Report by India Education bureau, New Delhi: Haryana accounts for
maximum share of over 85 per cent in the total number of projects under
construction in the urban development sector under the public-private
partnership (PPP) model as of August 2012, apex industry body ASSOCHAM
said today. More..
Of the total 81 urban development projects worth over Rs 78,000 crore
under construction in the PPP mode across India, Haryana has 12 projects
worth over Rs 66,800 crore according to a sector specific analysis by
The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
“Out of the total 881 PPP projects worth over Rs 5.4 lakh crore taken up
under the PPP model across India, 181 projects worth over Rs 99,300
crore are under different stages of implementation,” said Mr D.S. Rawat,
national secretary general of ASSOCHAM while releasing the findings of
the chamber’s analysis.
“Urban Development sector has the share of about 20.5 per cent in the
PPP projects under construction in various sectors,” said Mr Rawat.
Andhra Pradesh ranks second with seven urban development projects under
construction in PPP mode worth about Rs 2,700 crore followed by Madhya
Pradesh where nine projects worth over Rs 2,650 crore are under
construction followed by Rajasthan and West Bengal where seven projects
worth over Rs 1,400 crore and 12 projects worth over Rs 1,200 crore are
under construction respectively.
Highways ministry asks private contractors to protect public interest - 11 Oct 2012 - Times of India
Published On :2012-10-15 16:13:00
NEW DELHI: The recent reports of courts coming to the rescue of
commuters and suspending toll or questioning the logic of levying toll
without ensuring good service has prompted the highways ministry to
advise contractors to protect public interest to avoid such
Road transport and highways secretary A K Upadhyaya on Wednesday said
that in case of projects executed under public-private-partnership (PPP)
mode, the most crucial aspect is protecting public interest. He said
that though some of the judicial interventions are "not in conformity
with the contract" norms, in democracy various agencies would intervene
if public interest is not protected.
|Public Private Partnerships|