Latest news with #Rs225
Time of India
02-06-2025
- Science
- Time of India
LITU mulls shifting of three PG depts, start school of mgmt in exam section building
Nagpur: The Nagpur University's existing exam section building on the Laxminarayan Institute of Technological University (LITU) campus off Amravati Road, once it is handed over to the host institute, will be used to house the postgraduate departments of biochemistry, microbiology, and the Rajiv Gandhi Biotechnology Centre. The LITU administration is also planning to introduce a school of management to run MBA, integrated-MBA, besides pharmaceutical engineering, and other courses from next year. Following separation, these PG departments were integrated into LITU. LITU has been pushing for early possession of the exam section building to set in motion preparations for these courses and expansion works to transform into a state-of-the-art campus. The state govt has already sanctioned Rs225 crore for LITU works. Along with the exam section building, the LITU administration is also seeking the early handing over of the Nelson Mandela hostel and staff quarters to develop modern infrastructure for its students and staff. According to the MoU with NU, after the LIT became a university two years ago, June 2025 was fixed to hand over the exam section building, staff quarters, and Nelson Mandela hostel to LITU as they are located on its land. However, NU's own challenges, including a lack of suitable space and the passing away of its VC Subhash Chaudhari, kept the exam section relocation process pending. This week, a VC-level panel including top officials and office-bearers from both universities will be meeting to take a call on the issue. NU planned to shift the exam section to its old administrative building campus at Rabindranath Tagore Marg opposite Maharajbagh Zoo before June, but it came undone due to other projects coming up there and security issues. LITU principal advisor Mohan Pande said the administration aims to achieve its goals as early as possible with the govt funds. "The buildings housing microbiology, biochemistry, and biotechnology face issues during rains because they are very old now. Initially, we plan to demolish microbiology and biochemistry buildings. Meantime, these departments can function from the exam section building," he said. Pande added that Nelson Mandela hostels are also not fit for living and remain unoccupied. "These structures need to be razed to construct new LITU administrative offices," he said. Pande said the exam section will also house management courses like the 5-year integrated BTech-MBA, three-year integrated MTech-MBA, pharmaceutical engineering, chemical supply chain management, and industrial safety courses. "We are planning to start MBA courses from next year and therefore need the possession soon to get necessary permission from regulatory bodies," he said. Info: NEW LITU FACILITIES LITU has planned a state-of-the-art campus with international standard auditoriums, digital classrooms, a wifi campus, and a sports complex. Its historic 75-year-old swimming pool will be revived. Staff quarters, student hostels, and administration offices will be constructed. The govt has sanctioned Rs225 crore for these works.
Arab News
01-03-2025
- Business
- Arab News
Hong Kong conglomerate plans to invest $1 billion in Pakistan to upgrade port infrastructure
KARACHI: Hutchison Ports, a subsidiary of Hong Kong conglomerate CK Hutchison Holdings Limited, plans to invest $1 billion in Pakistan to improve its port infrastructure, the Pakistani finance ministry said on Thursday. The statement came after a delegation of Hutchison Ports, led by its Middle East & Africa Managing Director Andy Tsoi, met Pakistan Finance Minister Muhammad Aurangzeb and briefed him about the firm's 25-year presence in Pakistan. Hutchison Ports has been operating two terminals, HPKICT and HPSAPT, in Pakistan and has contributed more than Rs225 billion ($804 million) in government revenues and provided employment to a workforce of 5,000 individuals, according to the port operator. During the meeting with Aurangzeb, Hutchison Ports delegates presented their upcoming investment plan, aimed at upgrading their existing terminals to enhance operational efficiency, logistics connectivity, and automation. 'The investment includes infrastructure development, road improvements to facilitate efficient cargo movement, modernization of HPKICT into a cutting-edge automated terminal, and the development of a 52-hectare logistics park to enhance trade connectivity,' the Pakistani finance ministry said. 'The delegation highlighted that their investment is expected to generate at least USD 4 billion in revenue over the next 25 years through royalty, rent, and tax contributions.' The automation upgrades will include remote quay cranes, electric trucks and digitalized gate operations, alongside training programs for maritime professionals in port operations, management and artificial intelligence (AI) applications, according to the statement. Finance Minister Aurangzeb appreciated Hutchison Ports' commitment to Pakistan's maritime sector and acknowledged their significant role in boosting trade and economic activity. 'He reaffirmed the government's support for strategic investments that contribute to Pakistan's economic growth and infrastructure development,' the finance ministry said. The development comes amid Pakistan's efforts to boost trade and seek international partnerships to expand its maritime activities. On January 22, South Korean shipping company, HMM, launched the India North Europe Express (INX) weekly shipping service in Pakistan, providing the South Asian country direct access to Europe. The service, launched in collaboration with Ocean Network Express (ONE) container liner and Pakistan's United Marine Agencies (UMA), will ensure timely and efficient delivery of Pakistani goods to the destined European ports and beyond, according to HMM. Prior to that, Dubai-based logistics giant DP World, in collaboration with Pakistan's National Logistics Corporation, launched in Jan. a feeder service to transport shipping containers from Dubai to Karachi, Pakistani state media reported. Pakistani officials and DP World have also finalized terms for a freight corridor project from Karachi Port to the Pipri Marshalling yard in southern Pakistan. Pakistan is currently on a tricky path to economic recovery since avoiding a default in June 2023. The South Asian country last year secured a new $7 billion loan from the International Monetary Fund (IMF) and has been actively pursuing trade and investment opportunities to put the economy back on track.
Express Tribune
01-03-2025
- Business
- Express Tribune
Hutchison Ports offers $1b investment plan
Listen to article A high-level delegation of Hutchison Ports presented their upcoming investment plan of $1billion, aimed at upgrading existing terminals to enhance operational efficiency, logistics connectivity, and automation to Federal Minister for Finance Muhammad Aurangzeb on Friday. According to press release issued by finance ministry, the delegation was led by Andy Tsoi, Managing Director, Middle East and Africa Division. The delegation briefed the Minister on Hutchison Ports' 25-year presence in Pakistan, where they have been operating two key terminalsHPKICT and HPSAPT. Over this period, the company has contributed more than Rs225 billion in government revenues and has provided employment to a workforce of 5,000 individuals.
