MPSEZ starts doubling of 57 km Mundra-Adipur private railway line

Mundra Port and Special Economic Zone Ltd (MPSEZ) said it started doubling the existing Mundra-Adipur 57 km private railway line to meet the growing demand of its port.

The additional line will be parallel to the existing one. It will have four crossing stations and 99 bridges. It will be capable to handle 25 tonne axle load wagons at 100 kmph. The line will be commissioned in two phases. The first phase of 30 km will be commissioned by June 2011 and rest by the end of 2011-12.

Indian Railway has already doubled their track between Samaikhiali-Adipur and with the doubling of Adipur-Mundra by Adani Group and Samaikhiali-Palanpur by the Kutch Railway Company Ltd, the entire route from the Mundra Port to northern India will be double line, with capacity to handle close to 60 million tonne cargo annually. With this, Mundra Port shall become the second port after Jawaharlal Nehru Port Trust (JNPT) on the west coast, which shall be connected by double line rail corridor.

On Monday, MPSEZ’s shares ended 1.3% up at Rs690 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.6% up at 17,338 points.

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HCL Technologies signs 5-year IT infrastructure agreement with SGX

HCL Technologies Ltd (HCL) said it has signed a five-year IT infrastructure outsourcing agreement worth S$ 110 million with Singapore Exchange (SGX).

Under the agreement, HCL will provide SGX with infrastructure support and management services including the Exchange’s reach initiative. The S$ 250 million reach initiative aims to create world’s fastest trading engine, establish a state-of-the-art data centre offering co-location facilities and seamlessly connect trading communities in global financial hubs to Singapore, HCL said in a regulatory filing.  

On Monday, HCL’s shares ended 3.3% up at Rs381 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.6% up at 17,338 points.

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Why you should not buy gold coins

For starters, the mark-up is very high-and a few old coins can be confiscated by the government.

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