Companies & Sectors
Adani Group drops major contractors in Australian coal project
India's Adani Group has suspended two major contractors of its Queensland coal project, raising fresh speculation on its ability to the finance Australia's largest coal mine, a media report said on Wednesday.
 
Parsons Brinckerhoff and Korean construction company Posco were told last week to stop work on the Carmichael mine, rail and port project, The Sydney Morning Herald reported.
 
Company sources told the newspaper that senior Adani executives flew to India for talks about the project's future. The suspension of the contractors has taken place less than a month after the company stood down four engineering firms - WorleyParsons, Aecon, Aurecon and SMC - and a number of workers.
 
"It seems to me like they are at the crossroads of do they continue or do they do what GVK did and sack everyone," the Herald quoted a source as saying.
 
"I think they just do not have the money and can't get the money to go ahead. I think, one, Adani do not have the money, and two are realising this is a long, drawn-out process," the source added
 
It also follows alleged revelations by Fairfax Media that senior Queensland Treasury officials had advised the Queensland government last year that they believed the project was unviable.
 
The company, however, said on Tuesday that the mine would still go ahead and the company was not pulling out of the country.
 
"These structural changes are connected to the same engineering contracts and preliminary works variations Adani announced last month," an Adani Group spokesperson is quoted as saying.
 
Parsons Brinckerhoff is the principal project management consultant for the company's project, while Posco had been set to build Adani's 388-kilometre rail line from the mine to Abbot Point and take a financial stake in the development.
 
The suspension of both firms by the company is reportedly being seen by the workers as an extraordinary step.

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China starts building its largest solar plant
China has begun constructing its largest solar power plant spread over 2,550 hectares in the Gobi desert.
 
The plant will come up in Qinghai province.
 
The plant will have an installed capacity of 200 megawatts, and be capable of supplying electricity to 1 million households, according to Qinghai Solar-Thermal Power Group.
 
"Its designed heat storage is 15 hours, thus, it can guarantee stable, continual power generation," Xinhua quoted group board chair Wu Longyi as saying.
 
Once operational, the plant will slash standard coal use by 4.26 million tonnes every year, reducing emissions of carbon dioxide and sulphur dioxide by 896,000 tonnes and 8,080 tonnes, respectively.
 
The solar power tower system boasts higher efficiency and better energy storage than the more commonly used trough system.
 
The plant will also be China's first large-scale solar power plant under commercial operation, said Yu Mingzhen, vice director of Qinghai development and reform commission.
 
China has been focusing on increasing its proportion of clean energy. By 2014, the country's solar power capacity was 28.05 gigawatts, 400 times more than 2005, and there are plans to increase this to around 100 gigawatts by 2020.

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Bangalore Club questions eviction order
Bangalore Club, a 147-year-old landmark in the city where British Prime Minister Winston Churchill was once a member when a junior army officer, is facing a eviction threat but asserted it will contest it.
 
"We too heard that an order to vacate the premises in seven days was issued by assistant commissioner, revenue department, Mahesh Babu though we are yet to receive it," club secretary K.D. Murthy told IANS.
 
The eviction order to vacate the 13-acre sprawling area, valued at crores of rupees, was issued on the recommendation of the state legislative committee, which went into the ownership of the land located in the city centre.
 
"We have recently filed a writ petition in the Karnataka High Court challenging a notice by the revenue department asking us to prove the land ownership," Murthy said.
 
The club also submitted a copy of its title deed (khata), encumbrance certificate, property tax receipts and other documents showing the club is the owner of the land since the 19th century.
 
Set up as the Bangalore United Services Club in the tradition of the colonial clubs for officers of the British empire, Churchill used to frequent it during his stint in India in 1896.
 
In 1946, the premise was opened to civilians and was rechristened Bangalore Club. Its stately central building blends the idea and grandeur of the Raj and its resplendent Mysore room and the Gentlemen's Bar preserve its antiquity.
 
Early this month, the club lost its liquor licence after its renewal application was rejected by the Bengaluru Urban district office.
 
"Our liquor license was cancelled on July 2 and our stock of alcohol was seized on July 3 by the excise department," club president G.V. Radhakrishna said.

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COMMENTS

SuchindranathAiyerS

1 year ago

India always reminds me of "He fell among thieves" by Sir Henry Newbolt rather than "Where the head is held high" by Sir Rabindranath Tagore. For India is a Nation of thieves. If India can survive having had Pratibha Patil or Pranab Mukherji as President of India and Robert Vadra as a Z-Class Security VIP with chaps like S.M. Krishna as Foreign Minister, Honest Antony as Defence Minister, Praful Patel as Civil Aviation Minister, Sharad Pawar as Agricultural Minister, P. Chidambaram as Finance Minister, P,J, Kurien as Dy Speaker of the Rajya Sabha and there are brazen proposals to have Rahul Baba as the leader of the Opposition, Just check out the History of persons in crucial positions since the very beginning. Jawaharlal Nehru, V.K.Krishna Menon, TT Krishnamachari, Vijayalakshmi Pandit, B.R.Ambedkar, Indira Gandhi, Rajiv Gandhi, the list is legion of those who contributed their mite to India falling to 135 out of 172 countries (and below Sub-Saharan Africa) in the Global Human and Social Development Index (UNDP) and 143 rd out of 172 countries in internal Peace and Stability.This is an India where, in 1947, before the Kleptocracy entrenched itself, the Princely States of Mysore, Travancore and Baroda had universal primary education, health and nutrition and, in 1957, the Indian Army swaggered into Korea to enforce the truce between the US and China and, as a Great Power, was offered a permanent membership of the UN Security Council that Nehru declined in favour of China. In any case, India cannot benefit from talent, competence or integrity. The Indian Constitution and the laws that have flowed therefrom have ensured this and persecuted such upstart, elitist notions as talent, competitiveness, performance, competence, and integrity from these shores or swept them under the carpet of venerated mediocrity. The only thing that benefits India is other people's wealth. For example, the theft of other people's educational and employment opportunities in 1949, nationalization of temples in 1959, the nationalization of Banks in 1969, the continuing theft of lands both public (parks, water bodies) and private Maths, Clubs, Palaces), to the theft of 20% of private (non Moslem and non Christian) education and retrospective legislation as recently as 2012. India benefits from expertise in larceny both grand and miniature. This is reflected in the character of the Nation from the highest to the lowest vested with power to abuse by India's grotesque Constitution and laws

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