Mangaluru: Here are the 6 projects worth ₹3,800 crore to be inaugurated by PM

News Network
August 30, 2022

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Mangaluru, Aug 31: Prime Minister Narendra Modi is scheduled to visit the coastal city on  September 2 to inaugurate various projects undertaken by New Mangalore Port Authority and Mangalore Refinery and Petrochemicals Limited, that are worth ₹3,800 crore.

Inauguration of these projects in Mangaluru is a part of Prime Minister's two-day visit to Kerala and Karnataka. On 1 September, the Prime Minister will visit Sri Adi Shankara Janma Bhoomi Kshetram, the holy birthplace of Adi Shankaracharya, at Kalady village in Kerala.

Before his visit to Karnataka, Prime Minister Modi will commission the first indigenous aircraft carrier INS Vikrant at Cochin Shipyard Limited in Kochi on 2 September.

4 projects of New Mangalore Port Authority

Mechanised terminal at the port

PM Modi will inaugurate the project worth over ₹280 crore for mechanisation of Berth No. 14 for handling containers and other cargo, undertaken by the New Mangalore Port Authority.

The mechanized terminal will increase efficiency and reduce the turnaround time, pre-berthing delay and dwell time in the Port by around 35 %, thus giving a boost to the business environment.

Phase I of the project has been successfully completed, adding over 4.2 million tonnes per annum (MTPA) to the handling capacity, which would further increase to over 6 MTPA by 2025.

LPG and Bulk Liquid POL Facility

Prime Minister will also lay the foundation stone of five projects worth around ₹1000 crore, undertaken by the Port.

These projects include the integrated LPG and Bulk Liquid POL(Petroleum, Oil and Lubricant) Facility, equipped with state of an art cryogenic LPG storage tank terminal. It will be capable of unloading full load VLGC (very large gas carriers) of 45,000 tonnes in a highly efficient manner.

The facility is expected to bolster Pradhan Mantri Ujjwala Yojana in the region.

Edible oil refinery, bitumen storage and allied facilities

Prime Minister will lay the foundation stone of projects for the construction of storage tanks and edible oil refinery, construction of bitumen storage and allied facilities and construction of bitumen & edible oil storage and allied facilities. These projects will improve the turnaround time of bitumen and edible oil vessels and reduce the overall freight cost for trade.

Fishing Harbour at Kulai

Prime Minister will also lay the foundation stone for the development of the Fishing Harbour at Kulai, which will facilitate safe handling of fish catch and enable better prices in the global market. This work will be undertaken under the umbrella of the Sagarmala Programme and will result in significant socio-economic benefits for the fishermen community.

2 projects undertaken by Mangalore Refinery and Petrochemicals Limited

Prime Minister will also inaugurate two projects undertaken by Mangalore Refinery and Petrochemicals Limited. One is BS VI Upgradation Project and the other is Sea Water Desalination Plant.

BS VI Upgradation Project

The BS VI Upgradation Project, worth around ₹1830 crores, will facilitate the production of ultra-pure environment-friendly BS-VI grade fuel (with sulphur content less than 10 PPM).

Sea Water Desalination Plant

The Sea Water Desalination Plant, set up at the cost of around ₹680 crores, will help reduce dependency on fresh water and ensure a regular supply of hydrocarbons and petrochemicals throughout the year. Having a capacity of 30 Million Litres per Day (MLD), the Plant converts seawater into water required for the refinery processes.

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News Network
November 17,2024

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An Israeli airstrike on the office of Syria’s Baath party in Lebanon’s capital Beirut has killed the Lebanese resistance movement Hezbollah's Media Relations Officer, Mohammad Afif, reports say.

Lebanon's National News Agency (NNA) reported that the Israeli raid struck the Ba'ath party’s building in central Beirut district of Ras Al-Naba'a on Sunday, adding that the strike was an attempt to assassinate the leader of the resistance media front.

According to Baath Secretary-General Ali Hijazi, Afif was having a meeting in the Baath Party headquarters when Israel carried out the attack.

"Afif did not fight with weapons and did not lead a military unit in Hezbollah. Rather, he led a media unit," he said.

Reuters, Sky News, Al Jazeera and a number of Henrew-language media reported that Afif was killed in the Israeli strike.

However, Hezbollah has not yet confirmed Afif’s death or whether he was present at the site or not.

Earlier, the Lebanese Health Ministry said at least one person was killed and three others injured after an Israeli strike targeted a central district in Beirut.

Lebanon's al-Mayadeen television network reported that five people were killed in the attack.

The latest development came after Afif said Hezbollah was behind the Caesarea operation and targeting Netanyahu’s home during a speech at the Ghobeiry area in the southern suburbs of Beirut on October 22.

This was the second assassination attempt on Afif in the last two months, after he survived an attack on the Hezbollah media relations office several weeks ago.

Israel launched a ground assault and massive air campaign against Lebanon in late September after a year of exchanging fire across the Lebanese border in parallel with the Gaza war.

At least 3,287 people have been killed in Israeli strikes in Lebanon over the past year, with the vast majority in the past seven weeks. Another 14,222 have been wounded, mostly women and children.

In response to the ongoing aggression, the Lebanese resistance movement Hezbollah has been staging hundreds of retaliatory strikes against the occupied Palestinian territories and the Israeli forces trying to advance on southern Lebanese areas.

The movement has vowed to sustain its strikes until the regime ends the escalation.

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News Network
November 21,2024

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Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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News Network
November 16,2024

Mangaluru: The Kavoor police in Mangaluru, Karnataka, have arrested three individuals from Kerala in connection with two separate cybercrime cases, including one involving extortion under the guise of a "digital arrest."

City Commissioner of Police Anupam Agrawal reported that one of the arrested individuals, Nisar, a resident of Ernakulam district, posed as a CBI officer. He allegedly threatened the complainant with arrest and extorted Rs 68 lakh. A case has been filed under sections 66 (C) and 66 (D) of the IT Act, and sections 308 (2) and 381 (4) of BNS.

In another case, the Kavoor police arrested two men, Sahil K P of Thiruvannur, Kozhikode, and Muhammad Nashath of Mappila Koyilandy, Kerala, in connection with a share trade fraud. The accused are alleged to have deceived the complainant by promising substantial profits from an investment in the stock market. Trusting the fraudsters, the complainant invested Rs 90 lakh, which was subsequently lost. A case has been registered under sections 66 (C) and 66 (D) of the IT Act, and sections 318 (4) and 3 (5) of BNS.

The accused were arrested in Koyilandi and presented before the court. The operation was carried out under the guidance of City Police Commissioner Anupam Agrawal, led by Mangaluru North Sub-Division ACP Srikanth K, Kavoor Inspector Raghavendra Byndoor, Kavoor PSI Mallikarjuna Biradara, and staff members Ramanna Shetty, Bhuvaneshwari, Rajappa Kashibai, Praveen N, and Malatesh. 

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