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Purulia Express: লালপাহাড়ীর দ‍্যাশে যাবি? চিন্তা কিসের লো? বিকাল বেলা হাওড়া থেকে পুরুল্যা এক্সপেরেস পাবি। - Dip

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News Posts by ✞Epiphany✞

Page#    Showing 1 to 5 of 769 news entries  next>>
Today (12:22) Ahmedabad-Mumbai Bullet Train Project: Tata, L&T among bidders for one of the biggest tenders (www.financialexpress.com)
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News Entry# 419755  Blog Entry# 4727432   
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This tender covers nearly 47 per cent of total alignment of the 508 km long corridor, between Vapi and Vadodara in Gujarat, which includes four stations namely Surat, Vapi, Billimora and Bharuch, 24 river as well as 30 road crossings.
Ahmedabad-Mumbai bullet train project: Indian Railways is gearing up for the country’s first bullet train project! For the design and construction of 237 km length of mainline for the upcoming high speed rail corridor project, connecting Mumbai and Ahmedabad, technical bids (C4 package) were opened recently, on 23 September 2020 by NHSRCL. This entire section of the bullet train corridor falls in the state of Gujarat. In the competitive bidding, a total of three bidders involving seven big firms participated- IRCON International
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Limited – Afcons Infrastructure Limited – JMC Projects India Limited Consortium; Larsen and Toubro Limited; Tata Project Limited – J. Kumar Infra Projects Limited – NCC Limited – HSR Consortium.
This tender covers nearly 47 per cent of total alignment of the 508 km long corridor, between Vapi and Vadodara in Gujarat, which includes four stations namely Surat, Vapi, Billimora and Bharuch, 24 river as well as 30 road crossings. The ambitious bullet train project, which is being developed on Japanese E5 Shinkansen technology, is being implemented by the National High Speed Rail Corporation Limited (NHSRCL). The foundation stone for this project was laid by PM Modi along with former Japanese PM Shinzo Abe in September 2017. For the development of this high speed rail corridor project, around Rs 1.08 lakh crore is being invested. This high speed corridor is expected to cover the distance between Mumbai and Ahmedabad in just two hours.
This project alone will generate over 90,000 direct and indirect jobs during the construction period. Besides, the production and manufacturing markets are also likely to gain with the high speed rail corridor project. Around 21 lakh MT of steel, 75 lakh MT of cement, and 1.4 lakh MT of structural steel are estimated to be used in the construction and all of which shall be manufactured in India.
Besides the Ahmedabad-Mumbai Bullet Train corridor, the national transporter had sanctioned the feasibility studies for seven more high speed rail corridors. So far, the feasibility studies have been permitted for these corridors- Delhi – Amritsar high speed rail corridor, Varanasi – Howrah high speed rail corridor, Delhi – Varanasi high speed rail corridor, Delhi – Ahmedabad high speed rail corridor, Mumbai – Hyderabad high speed rail corridor, Mumbai – Nagpur high speed rail corridor, Chennai – Mysore high speed rail corridor.
Today (12:19) S Rly launches advance booking of parcel space by scheduled trains (www.financialexpress.com)
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News Entry# 419754  Blog Entry# 4727430   
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This will help the logistics providers and parcel customers to plan well in advance their cargo movement schedules with certainty and will also attract more parcel traffic to railways.
Following the demand from logistics providers and parcel customers, Southern Railway has launched new system of advance booking parcel space up to 120 days in SLRs and parcel vans attached to passenger trains and time-tabled parcel special trains. This will help the logistics providers and parcel customers to plan well in advance their cargo movement schedules with certainty and will also attract more parcel traffic to railways.
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scheme of advance booking of parcel space in trains is available in addition to the already existing scheme of indenting of parcel vans and parcel leasing where parcel spaces in specific trains are leased to registered lease holders for a maximum period of five years through open tender. The leasing policy also permits the registered lease holders to opt for temporary leasing of SLRs (8 metric tonne) for a maximum period of 30 days at a time through quotations, said a release by Southern Railway.
Day to day leasing can also be opted for a maximum of 10 days at a time through quotations. Railways call for quotations whenever there are no long term demand for parcel space in any specific train.
Previously, the temporary leasing of parcel space for 30 days was open only for SLRs in passenger carrying trains. Now this scheme of temporary leasing of parcel space for 30 days is also made open for parcel vans attached to passenger carrying trains or time-tabled parcel space as per latest modification in the policy.
This scheme of advance booking will lead to better utilisation of parcel spaces in high demand sectors and will also help railways identify the need for enhancing the parcel spaces by attaching additional parcel vans by such high demand trains, it said.
Today (12:16) Indian Railways ‘window-dressed’ finances to present Operating Ratio in better light in 2018-19: CAG Report (www.financialexpress.com)
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News Entry# 419753  Blog Entry# 4727428   
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The Comptroller and Auditor General (CAG) in its report stated that against the Operating Ratio (OR) target of 92.8% in the Budget Estimates, the OR of the national transporter was 97.29% in 2018-19.
To present its Operating Ratio in a better light in the year 2018-19, Indian Railways resorted to “window dressing” of its finances, IE reported citing a CAG report. The term Operating Ratio refers to the ratio of working expenses to traffic earnings, therefore, the lower the Operating Ratio is, the better it is. The Comptroller and Auditor General (CAG) in its report stated that against the Operating Ratio (OR) target of 92.8% in the Budget Estimates, the OR of the national transporter was 97.29% in 2018-19. This meant
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that Rs 97.29 was spent by Indian Railways to earn Rs 100. IE quoted the CAG the report as saying that one of the reasons that a better OR was shown than it actually was is because of the advance freight earnings of more than Rs 8,000 crore taken in the year to carry the freight the following fiscal year.
However, as per the report, the OR would have been 101.77% instead of 97.29% if advance freight of Rs 8,351 crore from CONCOR and NTPC was not included in the earnings of the financial year 2018-19. The Net Surplus in the financial year 2018-19 was Rs 3,773.86 crore. According to the report, the national transporter would have ended with Rs 7,334.85 crore of negative balance but for receipt of advance freight as well as less appropriation to Depreciation Reserve Fund and Pension Fund. It further stated that to present the working expenses and OR in a better light, the Railway Ministry resorted to “window dressing”.
Also, the CAG report cast doubts over Indian Railways’ use of its Extra Budgetary Resources for project financing, which started from the year 2015-16. While Rs 1.50 lakh crore of financial assistance was agreed by LIC over five years period (2015-20), the CAG noted that due to regulatory constraints, the financing arrangement with LIC materialized partially. During the year 2015-19, only an amount of Rs 16,200 crore could be raised from LIC. The shortfall of Rs 49,164 crore was recouped by the Railway Ministry by raising funds through short/medium term market borrowings which carry a higher interest rate.
The CAG report also stated that the progress in projects remained slow that were to be completed during the period 2015-20, due to inefficiency of the Indian Railways’ zones as well as weak monitoring at the Railway Board level. According to the report, records’ scrutiny relating to as many as 395 projects funded from EBR revealed that a total of 268 projects were still in progress as on 31 March 2019. Due to this, Rs 48,536 crore EBR funds were blocked other than defeating the intended objective of revenue generation for debt servicing. Review of identification as well as project sanctions for EBR funding revealed that projects that were financially unviable were sanctioned, the CAG report added.
Today (12:01) Jet Airways lenders to meet today. May vote on two final bids (www.moneycontrol.com)
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News Entry# 419752  Blog Entry# 4727411   
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Last Updated : Sep 28, 2020 09:51 AM IST |
While both the suitors have made final tweaks to their proposals and little may separate them, the Kalrock Capital-led consortium is said to have its nose ahead in the race to own Jet Airways
The Committee of Creditors of Jet Airways will meet on September 28, in what everyone hopes will be the lenders' final gathering to select the next owner of the airline that was grounded in April 2019.
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anticipation has been building up since the past fortnight when it came to light that the resolution professional overseeing the insolvency process has asked the two suitors to make final revisions in their proposals.
The airline had received bids from two suitors, both consortiums, on July 21. The first consortium was of Flight Simulation Technique Centre Pvt Ltd, Big Charter Pvt Ltd, and Imperial Capital Investments LLC. Both FSTC and Big Charter are led by aviator-turned-entrepreneur Sanjay Mandavia. Imperial Capital is an investment banking and wealth management company based in Dubai.
The second bid was from the consortium of London-based financial services firm Kalrock Capital and entrepreneur Murari Lal Jalan.
If the buzz is to believed, the consortium led by Kalrock Capital may just have its nose ahead. But surely, in an insolvency race that has seen many ups and downs, including multiple extensions of deadlines, one can never say for sure.
"One doesn't know if the final decision will come on Monday itself. But for sure, the lenders want to close the case at the earliest," said a senior executive.
The 16th meeting
Jet Airways was admitted to the National Company Law Tribunal in June 2019, and since then the Committee of Creditors, or the CoC, has met 15 times.
Giving the intimation for the 16th meeting, the airline informed the exchanges on September 26, saying, "We wish to inform that the sixteenth meeting of the CoC of Jet Airways is scheduled to be held on September 28, at 11 am, for which notice to the members of the CoC has been sent on September 26."
State Bank of India is lead lender and the most prominent member of the CoC. Jet Airways owes banks nearly Rs 8,000 crore. Its total claims, which includes unpaid salaries of employees and dues of vendors, amount to about Rs 25,000 crore.
Given the high claim, there is no doubt that much of the revision in proposal details, has been on the financial aspect of the bids presented by the two suitors.
While both the sides have been tight-lipped, sources told Moneycontrol that many of the questions have also been regarding the suitors' proposal to repay lenders and clear dues of employees.
"Both the suitors have been repeatedly asked about their plans for the employees. Consulting firm Alvarez & Marsal has been looking into the resolution plans submitted by the two sides," said a senior executive close to the development.

Now that the final touches have been made to the plans, the two proposals will be voted by the CoC.  In a statement on August 20, Ashish Chhawchharia, the resolution professional overseeing the process, said the CoC was engaging with the two suitors to assess the feasibility and viability of their respective plans for the airline.
"Once this assessment is complete, the CoC shall vote on the resolution plans... For any plan to be considered approved, it will need to secure the votes of at least 60 percent of the CoC members," the resolution professional had said.
The two proposals
Initially, the two proposals varied. The consortium led by Sanjay Mandavia, a former captain at Jet Airways, plans to re-launch the airline concentrating on the domestic operations.
Mandavia, who is also on the verge of launching regional airline FlyBig, needs Jet Airways to complete his aviation vision. Mandavia will serve the metro routes with Jet Airways, which will be fed by the regional flights operated by FlyBig.
Launching domestic operations looked like a viable option as the industry and slowly but steadily scaled since it resumed operations in May after being grounded for two months during the lockdown. In August, domestic aviation industry continued on a recovery runway, with 28.32 lakh passengers taking to the air, up from 21.07 lakh in July.
Sources added that the consortium, apart from promising an initial investment of $100 million to revive the airline, had also shared plans to recruit former Jet employees.
On the other hand, Kalrock Capital-led consortium was initially said to have shared plans that had focused on international operations of Jet Airways.
Sources had earlier told Moneycontrol that the Kalrock Capital led consortium had also got the backing of investors and aviation industry veterans, including two executives who were part of the senior management at Jet Airways. This may include Nikos Kardassis, the former CEO of the airline, and considered close to founder Naresh Goyal.
But now, a senior executive from the industry noted, that plan may have been tweaked. "Kalrock Capital's plan now talks about initially re-starting Jet Airways operations on domestic routes, and then taking it international, as per the circumstances, given the COVID-19 challenges," said the senior executive.
With very little to separate them, the final call may depend on how much haircut each of the proposals expects banks to take.
First Published on Sep 28, 2020 07:44 am
Today (11:54) Xiaomi Mi 10T Pro specifications leaked ahead of the Mi 10T launch on September 30 (www.moneycontrol.com)
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News Entry# 419751  Blog Entry# 4727405   
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Last Updated : Sep 28, 2020 09:10 AM IST |
The Mi 10T series launch is scheduled to begin on September 30 at 14:00 GMT (7:30 PM IST) where Xiaomi will unveil the Mi 10T Pro 5G and the Mi 10T 5G.
Xiaomi is confirmed to unveil the Mi 10T series globally on September 30. At the Mi 10T launch, Xiaomi is expected to unveil two new smartphones, namely the standard Mii 10T 5g and the Mi 10T Pro 5G. Ahead of the Mi 10T Pro launch, its specifications and images have been
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leaked.
The Mi 10T series launch is scheduled to begin on September 30 at 14:00 GMT (7:30 PM IST) where Xiaomi will unveil the Mi 10T Pro 5G and the Mi 10T 5G. Prior to its launch event, Mi 10T Pro specifications have been leaked by Digital Chat Station.
According to the tipster, Mi 10T Pro 5G specifications would include a 6.67-inch Full HD+ LCD with a 1080 x 2400 resolution and a 144Hz refresh rate display. There will be a hole-punch cutout stacked toward the upper left corner of the screen for the 20MP front camera.
Mi 10T Pro camera setup will house four sensors on the back. There will be a 108MP primary camera at the helm with support for optical image stabilisation (OIS), coupled with a 13MP ultra-wide lens and a 5MP macro lens. Details about the fourth sensor are currently unknown but it is expected to be a depth sensor.
Under the hood, Mi 10T Pro 5G will get powered by a Qualcomm Snapdragon 865 processor. The smartphone was previously said to feature 8GB RAM and up to 256GB internal storage. The tipster also claims that Mi 10T Pro will pack a 5,000 mAh battery with 33W fast charging support.
Mi 10T Pro will be 9.33mm thick and weigh 218 grams.
The standard Mi 10T 5G model will feature the same specifications, except that it will come with 6GB RAM and a 64MP primary camera sensor.
First Published on Sep 28, 2020 09:10 am
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