Latest news with #SSureshKumar
Time of India
4 days ago
- Business
- Time of India
Jharkhand coal-fired power project LoA by year-end
Kolkata: The letter of award (LoA) for execution of a coal-fired 1,600 MW ultra-supercritical power project in Jharkhand's Chandrapura will likely be issued by the end of 2025. The project is a joint venture between Coal India and Damodar Valley Corporation (DVC). Tired of too many ads? go ad free now State-run power utility DVC and Coal India signed an MoU in April to set up the brownfield project of 2X800 MW power plants — an expansion of the existing Chandrapura thermal power station of 2X250 MW capacity. "We signed a formal agreement with Coal India for this brownfield project, which will be set up on our land. An LoA is likely to be issued by this year-end. Around 38 months will be needed for the completion of construction. The project is expected to be fully commissioned by 2030," DVC chairman S Suresh Kumar said on Friday. A joint venture company would be set up on a 50% equity-sharing basis for the power project, Coal India said in a stock exchange filing on April 21. Total investment for the project would be around Rs 16,500 crore. "DVC and Coal India will together borrow around 70% of the total project cost over a period of time," Kumar said. Coal for the proposed power plants would be sourced from coalfields in proximity with Coal India's subsidiaries — Bharat Coking Coal and Central Coalfields.
Hans India
26-05-2025
- Business
- Hans India
281 AMRUT 2.0 projects will be taken up with Rs 10,251 cr
Vijayawada: The government accorded administrative sanction for an amount of Rs 10,251.72 crore for the implementation of 281 AMRUT 2.0 Projects works in Urban Local Bodies (ULBs) in the State. The works will be taken up under the Concessionaire Hybrid Annuity Model (CHAM) with the following mode of Finance. Both the State and Central governments are trying to implement AMRUT 2.0 project schemes to supply drinking water to the people. Andhra Pradesh Urban Finance and Infrastructure Development Corporation (APUFIDC) is the nodal agency for supervising the works. Principal Secretary of the department of Municipal Administration and Urban Development S Suresh Kumar issued orders for the implementation of AMRUT 20 scheme. The share of the Central government is Rs 2,470.56 crore, while that of the AP government is Rs 2,490.72 crore. Urban Local Bodies share is Rs 590.97 crore; the 15th Finance Commission Grant is Rs 924.78 crore, capital expenditure is Rs 6,477.03 crore, operational expenditure by ULBs is Rs 1,498.97 crore, project cost is Rs 7,976 crore and interest component to concessionaire is Rs 2,275.72 crore. The Total project cost is estimated at Rs 10,251.72 crore. The department of Municipal Administration and Urban Development has adopted Concessionaire Hybrid Annuity Model (CHAM) to implement the AMRUT 2.0. Concessionaire Hybrid Annuity Model (CHAM) is an innovative financing mechanism for undertaking various infrastructure works/ projects (especially, without any revenue from the project operations) that are otherwise dependent on budgetary allocations. This can also be applied to PPP projects requiring major portion of Viability Gap Funding, which can be arranged through CHAM mechanism. The overall objective is to fast track project implementation under new fund flow mechanism of GOI titled 'SNA-SPARSH' for all the Centrally Sponsored Schemes (CSS). The Government of India has initiated new method of funding called 'SNA-SPARSH' for Central Sponsored Schemes (CSS) wherein, it is mandated for release of matching share of State and ULBs upfront, for tapping/ release of GOI proportionate share. However, due to the critical financial situation of the State, where matching share is not available in the treasury immediately and there is no scope of going for fresh borrowings because of the FRBM limits. In view of this, MA&UD Department devised a new financing mechanism titled 'CHAM' (Concessionaire Hybrid Annuity Model) to use the internally generated project funds and the remaining balance provided by the Contractor/ Concessionaire in the form of 'Concessionaire Support'(C.S.) towards State/ ULB share.
Time of India
14-05-2025
- Business
- Time of India
Andhra Pradesh government to grant permit to high rise building plans within 72 hrs
VIJAYAWADA : In a significant move to accelerate urban development in the state, Andhra Pradesh govt has decided to grant building plans to high rise buildings with 12 or more floors within 72 hours. A special cell will be established at the directorate of town and country planning (DTCP) office to oversee the grant of development permissions for such projects. Municipal administration principal secretary S Suresh Kumar said that govt has approved the proposal sent by the director of DTCP to set up the special cell. He said that all permissions will be cleared within three working days (72 hours), based on a service level agreement (SLA). Suresh Kumar said that projects initiated with Transferable Development Rights (TDR) floors will also be considered for speedy disposal. "Large-scale high-rise buildings contribute to regional development. These projects enhance infrastructure facilities and also create opportunities for private investments," he said. The municipal administration principal secretary added that such big projects will also help generate employment opportunities. He said that govt found that delays in granting permissions at urban local bodies (ULBs) and urban development authorities (UDAs), along with administrative hurdles, have been obstructing development. He said that govt has decided to create an exclusive cell to handle the big-ticket projects to remove all such hurdles to the investors. He also mentioned that the new cell would not only expedite the process of granting development permissions but also follow transparency.
Hans India
14-05-2025
- Business
- Hans India
2.74 lakh SHGs data digitised
Vijayawada: S Suresh Kumar, Prinicipal secretary, the department of municipal administration and urban development, said on Tuesday the digitisation of the data of 2,74,873 Self Help Groups comprising 28,39,046 (99.41 percent) members have been completed. He addressed the Training of Trainers (TOT) session held at the MEPMA Head Office in Tadepalli on Tuesday. Addressing on the occasion, Suresh Kumar said Mission for Elimination of Poverty in Municipal Areas (MEPMA) has supervised the digitization of the data of SHGs. He said the data linkage with banks will assist in thorough verification during loan sanctions to Self Help Groups. He said for this purpose, the MEPMA Loan Charge Creation (MLCC) module was developed. Through this data integration, details of SHG members and verification of other loans linked to their Aadhaar numbers become easier, he added. He further said the MEPMA has completed SHG profiling and introduced digital initiatives such as the MLCC module to digitize SHG transactions. MEPMA Mission Director N Tej Bharat, explained how to download the MLCC module app and how to use it to grant loans under the microcredit plan. He informed that from June 1 onwards loans to SHG members in urban areas should be sanctioned exclusively through this SHG Profiling App. Physical loan processing will be discontinued, he added. He informed that login credentials were provided to 2066 branches out of 2631 from 24 banks across the state. The aim is to distribute SHG loans through this system. This app helps avoid misuse of funds and prevents issues such as loan defaults. He also emphasized that 30,000 urban women should be developed into entrepreneurs across the state. Among them, 10,000 existing women entrepreneurs will receive advanced training to enhance their businesses, while 20,000 new women entrepreneurs will be developed. He requested bank representatives to cooperate in this mission. He stated that some bank branches are not permitting SHGs to withdraw their savings for internal lending and requested the bank to allow them to withdraw their money. He said internal lending is one of the basic principles (one of the five key rules) of SHG operations. Hence, a humble request is made to all banks to allow SHG groups to withdraw funds for internal lending purposes. APTIDCO MD B Sunil Kumar Reddy, representatives of the state Level bankers Committee and senior MEPMA officials and representatives of the SGHs.
Time of India
13-05-2025
- Business
- Time of India
Govt to grant permit to high rise bldg plans within 72 hrs
Vijayawada: In a significant move to accelerate urban development in the state, Andhra Pradesh govt has decided to grant building plans to high rise buildings with 12 or more floors within 72 hours. A special cell will be established at the directorate of town and country planning (DTCP) office to oversee the grant of development permissions for such administration principal secretary S Suresh Kumar said that govt has approved the proposal sent by the director of DTCP to set up the special cell. He said that all permissions will be cleared within three working days (72 hours), based on a service level agreement (SLA). Suresh Kumar said that projects initiated with Transferable Development Rights (TDR) floors will also be considered for speedy disposal."Large-scale high-rise buildings contribute to regional development. These projects enhance infrastructure facilities and also create opportunities for private investments," he said. The municipal administration principal secretary added that such big projects will also help generate employment opportunities. He said that govt found that delays in granting permissions at urban local bodies (ULBs) and urban development authorities (UDAs), along with administrative hurdles, have been obstructing development. He said that govt has decided to create an exclusive cell to handle the big-ticket projects to remove all such hurdles to the investors. He also mentioned that the new cell would not only expedite the process of granting development permissions but also follow transparency.
