Top cos keen to bid for BMC's 2nd Versova desalination plant project
Meanwhile, the submission deadline for bids for the Rs 3,200 crore Manori desalination plant, a 200 MLD facility, has been extended to Aug 19.
This project had attracted interest from 20 bidders.
The BMC has sought expression of interest (EOI) for setting up its second desalination plant at Versova and aims to implement the project on a design, build, finance, operate, and transfer (DBFOT) basis and has set a deadline of Sept 6 for submissions of the EOIs.
You Can Also Check:
Mumbai AQI
|
Weather in Mumbai
|
Bank Holidays in Mumbai
|
Public Holidays in Mumbai
|
Gold Rates Today in Mumbai
|
Silver Rates Today in Mumbai
According to sources, L&T, Adani group, Va Tech Wabag, IDE Technologies, Suez, and Megha Engineering have shown interest, and officials representing them have visited the project site.
The EOIs submitted by the companies are expected to include techno-economic feasibility reports detailing aspects such as the technology and financing options the companies will adopt, as well as a tentative cost of the project. Subsequently, a consultant appointed by the BMC will assess the best solutions, including technology and financing options, and recommend the most suitable option. Accordingly, the civic body is expected to issue a tender document, followed by a standard bidding process.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Unsold 2024 Cars Now Almost Free - Prices May Surprise You
Unsold Cars | Search Ads
Learn More
Undo
Under the DBFOT model, the BMC will not incur upfront expenditure for setting up the desalination plant, as the capital costs are expected to be covered by the company establishing the plant.
Instead, the civic body will purchase water from the firm on a per kilolitre basis. The desalination plant is being developed over a seven-acre area encompassing three lagoons at Versova.
Stay updated with the latest local news from your
city
on
Times of India
(TOI). Check upcoming
bank holidays
,
public holidays
, and current
gold rates
and
silver prices
in your area.
Get the latest lifestyle updates on Times of India, along with
Happy Independence Day wishes
,
messages
, and
quotes
!
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
First Post
15 minutes ago
- First Post
Suhail Chandhok exclusive on growing a team in non-cricket market: 'We are a nation that loves heroes, not necessarily the sport'
U Mumba CEO and TV presenter Suhail Chandhok, in this exclusive chat with Firstpost, spoke about the challenges he faces as sports administrator, India's sporing culture and the future of Indian sports. Suhail Chandhok has worn many hats, including those of a cricketer, an actor, a TV presenter, and now CEO of U Mumba. However, he says that the transition to the administration side of this industry was 'natural' for him. In an exclusive interview with Firstpost, Suhail spoke about his journey, the challenges of being a young CEO, and his belief in building the right team culture. His love for sport began on the field, and when his playing days ended, he found a job as a TV presenter/commentator, doing stints for the Pro Kabaddi League, the Indian Premier League, and other sports. Now, Suhail has moved to the business side with kabaddi becoming his launchpad. STORY CONTINUES BELOW THIS AD On the financial side, Suhail revealed that sponsorship for non-cricket leagues hovers between Rs 3.5-5 crore a season, but he stressed that media rights are the real game-changer and play a big role in revenue generation. Suhail urged that more media platforms must back Indian sports. 'I think sponsorship is always something that is going to dictate a measure of success in some sense but I think that's not necessarily right, because sponsorship is only one metric of value. For instance, yes, you know, some teams are more successful than, let's say, three or four other leagues, whether it be volleyball, kho-kho, tennis, or badminton.' 'However, I think there is value that each sport brings to its own niche. Having said that, it has roughly been around the four to five crore mark in terms of sponsorship. That goes up and down, it yo-yos between three-and-a-half to four-and-a-half, five crores per season. 'Media rights are a big unlocking value, and I think we have to understand that media rights will always drive the overall value of a sport, of a franchise, of a team. That will continue to dictate value. However, that's where the market plays a big role. Today, we're again heading into what is potentially a monopoly market of Jio and Star coming together and I do hope that unlocking value continues. STORY CONTINUES BELOW THIS AD Suhail also warned about the growing trend of big conglomerates controlling all the stakes in major sporting leagues in India, especially in terms of broadcast. 'We shouldn't lean on a monopoly market. I do hope to see more and more media houses come in that want to house sport, whether it be global entities entering India, like Netflix and the WWE deal. It's a great dictate for what the future of sport might look like. When you look at the effect that a Formula 1 movie has had, or a Drive to Survive show has had, or WWE now being on Netflix, I do hope more global platforms look at Indian sport and Indian leagues as a potential. I think the next ten years are going to be very strong for India, and more platforms need to enter the market.' Suhail on taking PKL to next level The Pro Kabaddi League (PKL) has already grown into one of the biggest sporting leagues in India, second only to the IPL in stature. Suhail opened up about the gaps that can be filled by the PKL organisers to make the league even bigger in India. 'I think listening to the franchises' needs a little bit more is important. All of us – all 12 teams – are looking to work with the PKL to grow the sport. What we need to do is unlock the true value of the sport. While the league, as an entity, is largely owned by the broadcaster, I think we still need to separate the two and work with the teams, the stakeholders of the sport, and others who are genuinely trying to promote it.' STORY CONTINUES BELOW THIS AD 'We must also clamp down on any rubbish that's going on. We need to be very stern and focused on the progress of the sport in one clear direction. The league has done a fabulous job of building it to where it is today, but now it's the league's responsibility to take it up an extra notch. How do we commit to the future of the sport when we already have such strong stakeholders?' 'In terms of stature, I think only the IPL is a rival. We have the Kotak family, the Screwvala family, the Adanis, JSW, the Bachchans, Capri Global, and other private investors in the mix. This is a strong core group of team owners who are not looking for a quick exit, which means the sport is in safe hands. When the sport is in safe hands, it's our responsibility to stay true to it, unlock its value, and not stunt its growth.' STORY CONTINUES BELOW THIS AD Suhail believes that it is important to support new entrants because it will only help the sport grow. 'It's equally important to support others around the sport who are trying to do good for it. At Elev8 India Sports, we follow a 'copyleft' policy – we want to see more and more people come in. It's not about copyright and blocking; it's about allowing people to enter, contribute, and help the sport grow. Kabaddi is still at a nascent stage, so we need more people to talk about it, work for it, and build it up. Blocking new entrants will only curb enthusiasm and growth.' Suhail stressed that growing the sport is not just the league's job, but a shared duty for everyone involved. 'Everyone has a responsibility to help the sport grow. At the same time, we must educate players about what is right and wrong. Addressing certain issues today will help the sport clean up its act for the future as well.' STORY CONTINUES BELOW THIS AD Suhail on issues non-cricket leagues face Suhail also talked about the challenges that a growing sport like kabaddi faces. He said that when big money enters a sport suddenly, it can sometimes distract players from the true motivation of why they started playing in the first place. 'When a lot of money comes into the sport very very quickly, players stop understanding what the true value of why they are playing this game. You start to play for the auction or you start to play for your personal value rather than the value of a team. I think it's only very natural. It happened with the IPL when there was sudden unlocking of value where players started playing for their franchises rather than playing for their nations. Rather than committing to the calender of a country, they started playing where the money was. That is happening with kabaddi as well and I think helping players understand why they are playing this sport, why the sport has give them so much.' STORY CONTINUES BELOW THIS AD 'So, player education is important. At Elev8 India Sportz Yuva Series we do a lot of financial literacy, we do a lot player psychology, we work with players understand anti-corruption, what their true value is.' Suhail on positive and negative trends in non-cricket leagues Suhail said the most promising sign is that Indian sports culture is slowly expanding beyond cricket. However, he pointed out that India's tendency to idolise individuals rather than the sport itself is a major issue. 'I think the trend is that we are leaning towards not just cricket. And I think that's something that has to happen for a country to become a true sporting nation. Firstly, there's one big challenge in India: we are a nation that loves heroes and not necessarily the sport. When I worked on the badminton league, people would rush to watch your PV Sindhu versus Saina Nehwal.' 'But when you had a Carolina Marin facing off against a world number two and number one at the time, the stadium would be empty. So we appreciate heroes and not the sport, and I think that needs to change for India to take steps towards becoming a true sporting nation. However, look at the flip side — while we turned up in large numbers to watch a javelin event, we may have all turned up in 10,000 numbers to watch a Neeraj Chopra.' STORY CONTINUES BELOW THIS AD 'But when you get there and watch Neeraj Chopra, you start to understand what the sport of javelin even is. So I think it takes a hero to bring about awareness to a sport and vice versa. But at the same time, I do hope that while 10-15,000 people turned up to watch a javelin event in Bangalore — and I think that's a sign that India is heading in the right direction — I hope that tomorrow, when Neeraj Chopra is not necessarily the only guy that's there, at least 5,000 people do turn up to watch a javelin event.' 'And I think that's going to be the hallmark of success going forward. Because while we are talking about a 2036 Olympic bid, I hope that we understand that we have to build sporting culture, and that starts with everyone playing a sport. When you play a sport, you'll automatically tune into watching a sport. And I think that's what I want for all of us to do.' 'But I think the trend is very positive — more and more people are taking to a tennis court, a badminton court, a table tennis table, a pickleball court, a paddle court, playing football with their friends, playing kabaddi with their friends in their neighborhood.' Suhail on turning down offers from IPL teams Suhail revealed that he turned down management offers from teams in three different sports, including IPL franchises, before joining U Mumba at what he called 'the right time.' 'I unfortunately can't give you a full disclosure on those. All I will say is it's been across three different sports. I think the timing was such that it came at the right time with kabaddi. Since then, there's been a couple of others as well, including IPL teams. I will come back to I guess cricket in many ways and forms was one opportunity that, that came and went. I just thought that it would've taken a much bigger commitment in terms of time, and I don't think I would've been able to do broadcast at all if I took on a slightly larger commitment as well,' he said. 'Uh, but also I think it was the ability to do it at the right time, right? And I've always been someone that believes that things happen when they need to happen. And I think, you know, saying yes to the right opportunity is absolutely critical as well. There have been opportunities not just in India, but outside of India as well — again, very exciting stuff. And it's always nice to know you're wanted, right? I think that means you're doing something right.' Suhail on his equation with U Mumba owner Ronnie Screwvala While Suhail doesn't own a stake in U Mumba, he has full autonomy in running things as a CEO. He also acknowledged that he leans on his father-in-law, Ronnie Screwvala (owner of parent group U Sports), for advice related to the finances of the team. 'Unfortunately, not (on being asked if he owns a stake in U Sports). I am purely here as a consultant and a CEO. But look, I think there are positives and negatives to being so closely related to a franchise and to the owner of a team, especially when someone is of Ronnie's stature as well. I think he's an extremely hard taskmaster, and I think with that comes two sides, right? You have to have a great deal of transparency and honesty with yourself and, therefore, with him as well, and I was very clear about it when I took on the role." 'I think there's even more pressure when you take on a role where you're so closely related. There's so much more that you have to have in terms of belief so that you can put aside anything that anyone could potentially say. The good thing is that everyone knows I come in with a lot more sporting knowledge than many others here, and I think that for me was the number one conversation I had with Ronnie. I said, 'You know what? If it's a business decision, if it's something related to finance, I want to make sure that the door to you is open and I can come and have a chat and get the advice I need from you. But when it comes to sporting decisions, they have to be mine and mine alone.' And, you know, to this date, he's honoured that.' 'But at the same time, when it comes to the business side of things, I have the ability to tap his brain, and I think that's something wonderful to have. So while there is the added pressure of that, I think when you have the conviction of knowing you know the subject better than anyone else, you go in with that confidence.'
Mint
15 minutes ago
- Mint
Trump-Putin meeting to GST reforms: How Indian stock market may react on Monday? EXPLAINED
Trump-Putin meeting: The most-awaited three-on-three Trump-Putin meeting ended in Alaska on Friday with a hope that the next round of meetings will be held in Moscow soon. However, the US President Donald Trump didn't walk out of the meeting as he had vowed ahead of the meeting, which signals development in the bid for a ceasefire in the Russia-Ukraine war. Apart from this, Indian Prime Minister Narendra Modi's announcement of GST reforms from the Red Fort in his Independence Day speech may also work as a positive domestic trigger for the Indian stock market. According to stock market experts, ice has been broken in the US-Russia bilateral relations as both global leaders (Vladimir Putin and Donald Trump) vowed to sit for another round of meetings. They said Donald Trump promised to leave the meeting if he didn't like Putin's approach. However, after the end of the Trump-Putin meeting, both leaders talked positively, which signals 'progress but no deal'. When it opens on Monday, they said the Trump-Putin meeting outcome is expected to be respected by the global markets, including Dalal Street. They also expected a positive response to the GST reforms that Narendra Modi announced in his 15th August speech on Friday. They predicted a positive opening on Dalal Street but doubt the Nifty 50 could break above the 24,800 hurdle. Decoding the outcome of the Trump-Putin meeting, Avinash Gorakshkar, a SEBI-registered fundamental analyst, said, "The most-awaited Trump-Putin meeting has ended with progress without any deal. Both leaders agreed to meet for the next round of talks, which is a good sign in bringing an end to the Russia-Ukraine war. Ahead of the meeting, the US President had vowed to walk out of the meeting if he didn't like Russian President Vladimir Putin's line of approach. However, after the end of the Trump-Putin meeting, both leaders talked positively, which may be a positive trigger for the global markets, including the Indian stock market." However, Gorakshkar maintained that there was no development on Trump's tariffs, and the fear of US tariffs is still around. Pointing towards the GST reforms announced by Narendra Modi in his Independence Day speech, Anuj Gupta, Director at Ya Wealth, said, "The Indian stock market has already discounted Trump's tariff, and any further negative could have happened if the Trump-Putin meeting had failed. However, in this 'progress with no deal' situation, the market is expected to remain unaffected by no big breakthrough on Trump's tariffs. However, a big domestic trigger is the GST reforms, which Prime Minister Narendra Modi announced in his Independence Day speech. This is expected to enable bulls to outshine bears on Monday, and we may see a positive opening when trading resumes on Dalal Street after a gap of three days." Advising investors to look at domestic consumption-driven segments, Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, said, "Domestic consumption-driven sectors like banking and finance, telecom, aviation, capital goods, hotels, FMCG, and cement will not be impacted by Trump's tariffs. But it is important that investors choose stocks that are fairly valued in these segments." On why Trump's tariff may not be a significant factor in the near-term, Gaurav Goel, Founder & Director at Fynocrat Technologies, said, "One reason for the market's stability is the strong and steady support from domestic institutional investors. They have been putting large amounts of money into Indian equities, acting as a cushion against external shocks. In May, DIIs bought ₹ 67,642 crore worth of stocks, in June ₹ 72,673 crore, in July ₹ 60,939 crore, and in August ₹ 51,899 crore. With this level of consistent buying, the market is finding the strength to stay stable." "Another factor is the strength and diversity of the Indian economy. Our growth does not rely on any single export market. Domestic consumption, services, manufacturing, and technology create a broad base that cannot be easily shaken by a single policy decision abroad. Even if the full set of proposed tariffs comes into effect, experts estimate the impact on India's GDP to be less than 0.2 per cent. This is a reminder of how small this challenge is in the context of our overall economy," Goel added. However, market experts maintained that Monday's upside would be limited, and the Nifty 50 index may not be able to break the 24,800 hurdle. "The Indian stock market may have a positive opening on Monday, but the rise will be limited and the Nifty 50 index may find it tough to break above the 24,800 hurdle," Avinash Gorakshkar said. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Hindustan Times
an hour ago
- Hindustan Times
Will the government's proposal for two GST slabs—5% and 18%—under a revamped tax regime benefit homebuyers?
The Central government has proposed two tax rates of 5% and 18% in the revamped goods and services tax (GST), slated to replace the current indirect tax regime by Diwali this year, according to media reports. The Central government has proposed two tax rates of 5% and 18% in the revamped goods and services tax (GST), slated to replace the current indirect tax regime by Diwali this year. (Representative photo) (iStockphoto)(MINT_PRINT) While the presently nil or zero per cent GST tax is charged on essential food items, 5% is charged on daily use items, 12% on standard goods, 18% on electronics and services, and 28% on luxury and sin goods, the revamped GST regime will have two slabs plus a special rate of 40% for luxury and 'sin' goods. The development comes hours after Prime Minister Narendra Modi, during the Independence Day address, promised next generation Goods and Services Tax (GST) reforms as a Diwali gift for the country. In real estate, construction materials attract varying GST rates, cement at 28%, steel at 18%, paint and varnishes at 28%, ceramic tiles at 18%, and sanitary ware at 18%. Services like architectural design and project management are taxed at 18%. These rates directly influence project costs and, in turn, housing prices. Under construction real estate projects attract GST of XX and ready-to-move-in YY%. Under-construction residential property attracts 5% GST (1% for affordable housing), while ready-to-move-in property with an occupancy certificate attracts no GST. Also, under the proposed GST structure, most goods and services would fall under either the 5% or 18% slab, replacing the current 5%, 12%, 18%, and 28% rates. However, even if the government cuts indirect taxes, the key question remains: will developers pass on the savings to homebuyers, or retain them to protect profit margins, say experts. 'A reduction in GST on under-construction homes would provide much-needed relief, making housing more affordable and boosting sentiment in the real estate sector,' says Vikas Bhasin, MD of Saya Group, a luxury real estate developer. Agrees Pradeep Aggarwal, founder and chairman, Signature Global (India), 'The housing sector stands to benefit from these reforms, as moving to a two-slab structure will not only make GST compliance easier for real estate developers, but also help rationalise input costs, improve cash flows and eventually reduce the cost of homes for buyers.' Lower input costs may boost affordability Currently GST in the real estate sector applies through multiple rates. Affordable housing projects attract a GST of 1% without input tax credit. On the other hand, non-affordable housing attracts a GST of 5%. Affordable housing is officially defined as a residential unit up to 60 sq. m carpet area in metropolitan cities and 90 sq. m in non-metros) and priced up to ₹45 lakh. Let us take the case of cement which is a key input. If GST on cement reduces from 28% to 18%, developers will see a significant reduction on construction costs. GST proposals: A 10%–20% reduction in overall taxation would make property more affordable, say financial experts.(HT Graphic) 'Even if the government reduces indirect taxes, the real question is whether developers will pass on the benefit to homebuyers. There's a possibility they may retain it to safeguard their margins, rather than lowering prices,' says Abhishek Kumar, founder and chief investment advisor of SahajMoney, a financial planning firm. Affordable housing rates are likely to change substantially, if the concessional tax treatment continues. However, luxury housing can see higher indirect costs if high-end fittings and finishes fall under the 40% luxury rate, say experts.. Push towards formalisation of property deals Experts believe that revision of GST rates could do more than trim costs. It has the potential to bring a structural shift in the way real estate transactions are conducted. With the lowering of the overall tax burden, the sector could witness higher compliance, reduced cash dealings and a greater flow of transactions through formal channels. Also Read: Is Gurugram's luxury real estate boom sustainable? Experts weigh in on price and demand trends 'A 10%–20% reduction in overall taxation would make property more affordable, spur transactions, and shift dealings into the formal economy, a major boost for India's largely cash-oriented real estate sector,' says B. Srinivasan, director and founder, Shree Sidvin Investment Advisors. Anagh Pal is a personal finance expert who writes on real estate, tax, insurance, mutual funds and other topics
