Surana Solar Ltd wins arbitration against Paradip Port Trust
Posted On: 2021-04-08 23:31:40 (Time Zone: Arizona, USA)
Surana Solar Ltd was awarded an EPC contract for execution, operation & maintenance of a 10W (AC) Solar Power Plant by Paradip Port Trust (PPT) in the year 2016. However in the course of implementation, certain disputes arose between the Company and PPT with regard to the project. PPT had cancelled the LOI / terminated the contract and encashed the Performance Bank Guarantee and Mobilization advance Bank Guarantee.
The Company had challenged such arbitrary action before the Arbitral Tribunal constituted by the Hon ble High Court of Odisha. Upon the contest, the Tribunal on 8th April, 2021 has passed an Award in favour of the Company for a sum of Rs. 8,69,34,723/- towards the amount of encashed Bank Guarantee, interest on such amount and Arbitration cost.
Sagarmala project can enable Odisha to emerge as major logistics destination, says Naveen Patnaik ANI | Updated: Apr 08, 2021 10:43 IST
Bhubaneswar (Odisha) [India], April 8 (ANI): OdishaChief MinisterNaveen Patnaik on Wednesday chaired the first meeting of the State Sagarmala Committee and said that the project can further enable Odisha to emerge as a major logistics destination. The Port-led development through industrialisation and connectivity is a major focus of Sagarmala projects. We will also be prioritising the Coastal community development as an integrated part of this initiative, said Patnaik.
The Sagarmala Project has a vision for port-led development across the coast of India. It aims at port modernisation, port connectivity, port led industrialisation and coastal community development. The projects under this program will get 50 per cent funding from the Centre.
Odisha CM chairs first meeting of State Sagarmala Committee pakistantelegraph.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pakistantelegraph.com Daily Mail and Mail on Sunday newspapers.
Addressing the meeting over videoconference, the chief minister said that the Sagarmala project can further enable Odisha to emerge as a major logistics destination.
BHUBANESWAR: Chief minister Naveen Patnaik on Wednesday underlined Odisha’s strategic advantage of long coastline and emphasized on port-led development through industrialization and connectivity as he chaired the first meeting the of state Sagarmala committee.
Addressing the meeting over videoconference, the chief minister said that the Sagarmala project can further enable Odisha to emerge as a major logistics destination. He also stressed on development of coastal community, a major objective under the initiative.
The Sagarmala, an initiative of the Narendra Modi government aims port-led development and improvement of waterways in the country.
Railways looks to bag 45% of ports traffic by 2030
Railways looks to bag 45% of ports traffic by 2030
NEW DELHI: The railways has set a target to bag around 45 per cent of the traffic from ports by 2030, as compared to the 27 per cent it carries currently, says the National Rail Plan.
According to the plan, the overall traffic handled at major ports is likely to increase from the present 700 MT to 925 MT by 2026 and 1,400 million tonnes by 2030. In order to meet the growing demand, the Indian Railways has undertaken some works on top priority with targeted completion by 2024.
These works include the Chennai Beach Attipattu line (Kamarajar port), Kanaknadi Panambur line (New Mangaluru port), Raipur Titlagarh Doubling (Vishakapatnam), Madurai Tuticorin Doubling (Tuticorin), Titlagarh Sambalpur Doubling (Paradip), Banspani Daitri Jakhapur Doubling (Paradip), Sambalpur Talcher Doubling (Paradip), Hospet Tenaighat Vasco Doubling (Marmugao), Budhapank Salegaon 3rd and 4th line (Paradi