DLF to restart Kolkata SEZ project

The tax-free enclave in Kolkata, which was to be developed in a small area of 10.48 hectares, was de-notified along with the other three Seas in February 2009, on account of demand shrinkage for commercial space

The government today gave the nod for the country's largest real estate developer, DLF, to revive its plan for a special economic zone (SEZ) in Kolkata, reports PTI.

 

"The Board of Approval (BoA) has allowed re-notification of Elf’s SEZ in Kolkata," commerce ministry additional secretary D K Mittal told reporters in New Delhi after a meeting of the BoA, the nodal body for SEZ-related matters.

 

The Kolkata SEZ was one of DLF’s four SEZ projects notified in June, 2008.

 

However, the tax-free enclave in Kolkata, which was to be developed in a small area of 10.48 hectares, was de-notified along with the other three Seas in February, 2009, on account of demand shrinkage for commercial space.

 

With the improved sentiment in the real estate sector, DLF had approached the commerce ministry for reviving this IT/Its tax-free zone. In its application for restarting the project, the company said demand for IT/ITES leasing space is showing signs of improvement.

 

However, DLF’s three other projects in Gujarat, Haryana and Orissa remain de-notified.

 

In all, about 12 developers had pulled out their SEZ projects due to a slowdown in the commercial space segment last year.

 

User

CNG price hike deferred till 15th June

When it became clear that key constituents like railway minister Mamata Banerjee and agriculture minister Sharad Pawar would not be attending the EGoM meeting and a decision would not be taken, the oil ministry pressed IGL and MGL to defer the CNG price hike decision

The government has asked compressed natural gas (CNG) retailers in the national capital and Mumbai to defer by a week the hike in CNG price that had become necessary following doubling of natural gas price, reports PTI.

Indraprastha Gas Ltd (IGL) in Delhi and Mahanagar Gas Ltd (MGL) in Mumbai were to hike price of CNG they sell to automobiles by 25% and that of gas piped to households for cooking purposes by close to 6% from today.

The two companies received calls from the oil ministry yesterday morning asking them to defer the decision till 15th June, a source privy to the communiqué said.

Following the "verbal" order, the two firms did not go ahead with their planned price increase from today.

The oil ministry had in a 31st May written order detailing the decision of the Cabinet to increase natural gas price to $4.2 per million metric British thermal units (mmBtu), had stated that IGL and MGL can hike CNG and piped gas prices from 8th June.

The CNG price hike was to coincide with a planned increase in petrol and diesel rates from 8th June.

The source said yesterday's diktat came hours before an Empowered Group of Ministers (EGoM) was to meet on raising petrol and diesel prices in sync with cost.

However, when it became clear that key constituents like railway minister Mamata Banerjee and agriculture minister Sharad Pawar would not be attending the EGoM meeting and a decision would not be taken, the oil ministry pressed IGL and MGL to defer the CNG price hike decision, he said.

The EGoM is to meet again in a week to 10 days time to consider freeing auto fuel prices from government control, a move that will result in petrol prices going up by Rs3.35 a litre and diesel rates by Rs3.49 per litre.

"While the decision to raise natural gas price came into effect from 1st June, the oil ministry on purpose had stated in the order that city gas suppliers (like IGL) should effect any hike from 8th June," the source said.

The government decision to raise natural gas prices from Rs3.2 per cubic metre to Rs7.5 per cubic metre ($4.2 per mmBtu) would have resulted in CNG price in Delhi going up by Rs5.60 per kg to Rs27.50 a kg. Piped natural gas price was to be raised from Rs15.92 per cubic metre to Rs16.85 per cubic metre.

The CNG rate hike would have narrowed the price advantage the environment friendly fuel had over petrol and diesel and it was felt that this would be coupled with a price hike in conventional transport fuels, the source added.
 

User

CCCL wins Rs200 crore Goa Airport project from AAI

Consolidated Construction Consortium Ltd (CCCL) said it won the Goa Airport project worth Rs200 crore from Airport Authority of India (AAI).

The scope of work includes construction of the new integrated terminal building at Civil Enclave, Goa.

On Tuesday, CCCL shares ended 5.4% up at Rs83 on the Bombay Stock Exchange, while the benchmark Sensex closed 1% down at 16,617 points.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)