Connect with us

National

Kerala Requests Extension for ₹529 Crore Wayanad Rehabilitation Loan

Published

on

Kerala’s Finance Minister K.N. Balagopal announced on Tuesday that the state government intends to request an extension from the Centre for utilizing a conditional loan of ₹529.5 crore designated for the rehabilitation of landslide-affected areas in Chooralmala and Mundakkai, located in Wayanad.In a media briefing, Balagopal emphasized the challenges posed by the Centre’s directive to disburse the loan within a tight timeframe of one and a half months. Considering these difficulties, the state government aims to obtain more time for effectively utilizing the funds and for executing the corresponding projects.

Additionally, the state government has tasked a committee under the leadership of the Chief Secretary with overseeing rehabilitation construction activities. A 16-member coordination committee has also been established to manage the process, evaluating sponsorship and construction costs for the planned township.

This committee has been tasked with engaging in discussions with various stakeholders, including those who have offered support, the construction company, and the beneficiaries. It has been agreed that land acquisition for the township will be finalized, with construction expected to start in March. The committee will prioritize projects funded by the central loan and will submit a formal request to the Centre for an extension for fund utilization once project activities are initiated.

The Central Government has approved the ₹529.5 crore Special Assistance Loan for 16 projects, which includes the development of a township in Wayanad’s landslide-affected regions. These funds are allocated for the 2024-25 financial year and must be utilized by March 31, 2025. The Centre has cautioned that any diversion of funds from the approved projects will lead to a decrease in the loan amount.

National

Odisha Accelerates Industrial Development with ₹1.15 Lakh Crore Projects in Jajpur

Published

on

Odisha Chief Minister Mohan Charan Majhi inaugurated and laid foundation stones for 24 industrial projects in Kalinganagar, Jajpur district, with a total investment of ₹1,15,000 crore, aimed at generating 36,000 jobs.

“Today marks a pivotal moment for Odisha. With the launch of these projects worth ₹1.15 lakh crore in Jajpur, we’re not just laying foundations; we’re constructing a future. This will create 36,000 job opportunities, allowing our youth to thrive in their homeland. In just 113 days, we’ve transformed commitments into tangible progress,” CM Majhi stated during his address.

This achievement reflects our government’s determination, commitment, and focus on action over rhetoric. Kalinganagar is now emerging as the economic backbone of a self-reliant Odisha. We reaffirm that Odisha is not only rich in heritage but also brimming with opportunities and industrial excellence.

The 24 projects are strategically situated in Kalinga Nagar, Danagadi, and Badachana in Jajpur district, strengthening the region’s status as a vital part of Odisha’s industrial growth. They encompass crucial sectors including steel, ferro alloys, chemicals, solar energy, refractory materials, automotive components, warehousing, and food processing.

Odisha is cementing its status as one of India’s rapidly growing industrial hubs with these major initiatives. The combined investment of ₹1.15 lakh crore is set to offer employment to 36,000 people, propelling the state’s economic expansion.

Among the launched projects, Tata Steel Ltd’s 5 MTPA Integrated Steel Plant expansion in Kalinga Nagar stands out, with an investment of ₹47,599 crore, expected to create 4,625 jobs. Other significant projects include JSL Group’s petroleum and solar power initiative, worth ₹470 crore, and Abis Exports India Pvt Ltd’s poultry feed plant, projected to generate 850 jobs.

The groundbreaking phase is led by Neelachal Ispat Nigam Limited’s (NINL) ₹61,769 crore steel plant expansion, expected to become one of the largest steel manufacturing units in the area, yielding 14,000 direct employment opportunities.

Collectively, these 24 projects not only introduce foreign investment and advanced technologies to Odisha but also catalyze job creation, foster MSME collaboration, and promote downstream industrial growth in the region, officials noted.

Continue Reading

National

NALCO Prioritizes Timely Completion of Strategic Project Expansions

Published

on

National Aluminium Company Limited (NALCO), a Navratna CPSE under the Ministry of Mines, has achieved a significant milestone for the financial year 2024–25, heralding a new phase of operational excellence and strategic expansion.

This remarkable achievement highlights the company’s resilience, operational prowess, and steadfast commitment to value creation.

According to the audited financial results released yesterday, NALCO has reached an unprecedented financial landmark, recording its highest-ever net profit of ₹5,325 crore, reflecting a robust year-on-year increase of 158%. The company also reported its all-time highest revenue from operations amounting to ₹16,788 crore for FY 25.

Addressing employees regarding this extraordinary achievement, Brijendra Pratap Singh, CMD of NALCO, expressed heartfelt congratulations. He emphasized that this record-breaking performance exemplifies the power of teamwork, prudent financial management, commitment, and alignment with NALCO’s strategic vision. This accomplishment is a source of pride not just for NALCO, but also for every employee, valued stakeholders, the Ministry of Mines, the Government of India, and the state of Odisha.

Reinforcing NALCO’s commitment to sustainable long-term growth, Singh noted that while this year’s exceptional performance was bolstered by favorable alumina and aluminium prices, enduring success relies on agility, operational excellence, and consistent high performance. He highlighted key strategic initiatives aimed at driving NALCO’s next growth phase, including the 5th Stream expansion of the Alumina Refinery, operationalization of the Pottangi Bauxite Mines, and the proposed expansion of the existing Smelter Plant and Captive Power Plant.

“These forward-looking projects will create a strong foundation for sustainable and resilient growth, further solidifying NALCO’s leadership in the global aluminium industry,” he stated.

Senior leadership, including Sadashiv Samantaray (Director, Commercial), Pankaj Kumar Sharma (Director, Production), Jagdish Arora (Director, P&T), Dr. Tapas Kumar Pattanayak (Director, HR), and Pranab Jyoti Nath (CVO), were present to acknowledge the collective efforts at NALCO and extend their congratulations to the team for maintaining a competitive edge in performance and productivity.

Continue Reading

National

KNR Constructions Banned by Centre Following NH-66 Collapse in Kerala

Published

on

The Union Ministry for Road Transport and Highways has suspended KNR Constructions, the contractor linked to the collapse of the elevated NH 66 under construction in Kooriyad, Malappuram. The consulting firm Highway Engineering Consultant (HEC) has also been banned in connection with this incident.

An expert team from the NHAI inspected the site of the collapsed retaining wall on NH 66 on Monday. The team, featuring Dr. Anil Dixit from Jaipur and Dr. Jimmy Thomas from Kochi, performed a preliminary assessment of the affected areas, which include both the main highway and the service road.

According to initial findings, no issues were detected in the construction of the protective wall made of cement blocks. Dr. Jimmy Thomas stated that “the preliminary conclusion indicates a soil-related problem.”

“A comprehensive analysis of various factors, including soil composition, road design, and construction methods, is necessary. Only after a detailed investigation can we determine the exact cause,” he emphasized.

In addition to Kooriyad, multiple other sections of roads under the NH 66 widening project have experienced collapses and cracks in northern Kerala. On Wednesday, residents protested at the NH construction site in Kuppam, Kannur, following two landslips reported in a single day.

In Kasaragod, a 72-foot crack appeared on the NH near Mavungal, close to another crack discovered the previous day. The service road near Kooliyangal in Kanhangad also collapsed, raising concerns over the quality of roadwork in the region.

The Youth Congress staged a protest march in Kooriyad on Wednesday, led by state leaders including Abin Varkey, demanding accountability from KNR Constructions Ltd for alleged negligence.

Meanwhile, Kozhikode MP M.K. Raghavan has written to Union Minister for Road Transport and Highways Nitin Gadkari, urging immediate action to address these issues before the monsoon season. “In many areas of Kozhikode, hills have been cleared unsafely for road construction,” he noted.

Continue Reading

Trending