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Yahoo
a day ago
- Business
- Yahoo
Land acquisition enables development of Infinite Loop India facility
The purchase, conducted through Loop Industries' joint venture (JV) in the country, is a significant step in the company's expansion in the Indian market. The land, acquired for $10.5m, reflects a $5m reduction from the initial capital cost estimate of $176m provided in the front-end engineering design (FEED) package by Tata Consulting Engineers. An initial deposit of $1.7m has been made to secure the 93-acre site. Located near Surat in India, an area known for its synthetic textile industry, the site offers the Loop Industries JV access to a substantial supply of polyester textile waste feedstock. This aligns with Loop Industries' focus on sustainability and supports the company's mission to promote a circular economy for polyester materials. With aims to reduce environmental footprint, the planned facility is designed to operate on 80% clean, renewable electricity and biofuel. The polyethylene terephthalate (PET) resin manufactured at the plant is anticipated to have carbon emissions up to 80% lower than those of standard virgin PET derived from petroleum. This site, located within a designated Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR), can accommodate an initial production capacity of 70,000 metric tonnes (mt) annually, with potential expansion to add another 100,000mt per year. The PCPIR status aids in streamlining the permitting process, which is anticipated to conclude by the end of 2025. It also offers the advantage of a skilled workforce from the local petrochemical sector, stated the company. Moreover, the facility's proximity to a major deep-water seaport is expected to facilitate efficient export logistics for the resin produced. Loop Industries COO Adel Essaddam said: "The land acquisition in Gujarat is a foundational step that positions the Infinite Loop India project for groundbreaking construction. This site checks every box from an infrastructure, logistics, and feedstock availability standpoint. It sets the stage for deploying our technology efficiently and competitively, while providing the footprint needed for a planned 100,000 metric tonne further capacity expansion once the initial facility is operational." Headquartered in Terrebonne, Quebec, Canada, Loop Industries focuses on depolymerising waste PET plastics and polyester fibres into their monomers dimethyl terephthalate (DMT) and Monoethylene Glycol (MEG). These can then be repurposed into new PET plastics and fibres. The company recently introduced Twist, a brand of circular polyester resin intended for use in fashion, sportswear, and home textiles. "Land acquisition enables development of Infinite Loop India facility" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Time of India
21-06-2025
- Business
- Time of India
CBI files graft case against Jawaharlal Nehru Port Trust , Tata firm
MUMBAI: CBI has filed a case against Jawaharlal Nehru Port Trust officials and Tata Consulting Engineers, a project management consultant, for allegedly causing Rs 804 crore loss to govt in contracts to increase depth of the channel for large cargo ships. CBI was carrying out searches at several premises at the time of going to press, report Vijay V Singh & Reeba Zachariah. The FIR mentions "preparation of inflated estimates, restriction of competition to favour international bidders, extension of undue favour to contractor & suppression of reports of independent organisations". The FIR was registered against ex-JNPT chief manager Sunil Kumar Madabhavi, TCE and its project director Devdutt Bose, BoskalisSmit India LLP, Jan De Nul Dredging India Pvt Ltd, and other unidentified individuals. It says the loss was spread over the dredging project's two phases - 2003-14 and 2013-19.
Indian Express
12-06-2025
- Politics
- Indian Express
PM didn't want the Ram temple to become temple of the north…(his message was) develop Ayodhya so that it has cosmopolitan features: Nripendra Misra
Since he was picked as the officer-architect-in-chief of the Ram temple in Ayodhya, Nripendra Misra has made 120 trips to the town for work. In an interview with The Indian Express two days after the consecration of the statue of Ram as the king of Ayodhya, Misra, who served as the Principal Secretary to Prime Minister Narendra Modi in his entire first term, reflects on his learnings in the past five years. Excerpts: Since you were appointed the chairman of the Ram temple's Construction Committee in February 2020, Ayodhya must have dominated your calendar? Soon after my appointment, Covid was around the corner, and a national lockdown was ordered. I waited for about three months before starting my journey by car from Delhi to Ayodhya. It takes about nine hours. I arrived here with the two agreements — with L&T and Tata Consulting Engineers. Over the last five years, I have made about 120 trips to Ayodhya. And, each trip is a minimum of three days. I calculated that it is more than 365 days. More than a year of my life has been spent staying in the Circuit House in one room. Fortunately, they never changed that room. My day starts at 9 am and ends in the evening. The seven new temples that have been built now…how do they relate to the Ram temple? The seven new temples belong to Valmiki, Vishwamitra, Agastya, Vashistha, Nishadraj, Ahilya and Shabari. They were some of the key persons involved in Ram's life journey, especially his growing up to be a maryada purushottam. These seven temples encapsulate the message that the Prime Minister is keen to spread — of social cohesion, and a feeling that Ram belongs to everyone. After the consecration or Pran Pratistha in January 2024, what has been the Prime Minister's message to you for the last year or so? Whenever I have met the prime minister, not very frequently, but yes, whenever he is kind enough… at the temple, he wanted to understand the process, engineering. Because of his own experiences in Gujarat, having done the Sardar Patel statue, he was very familiar. When I went for the first time, the controversy was at its peak about what kind of foundation and technology we should adopt because of the soil condition being close to the river and also close to Nepal earthquake features… So, that was the anxiety there. The moment I shared it with him, he expected this and said, 'Yes, yes, that is the most important aspiration of sadhus… the temple should last a thousand years.' The moment I landed here, 'thousand years' was ringing in my ears. So, I explained to him that we did the soil foundation, (which) he was familiar with completely… So, these were the kind of details he was willing to listen to and give his best advice. And, a kind of relationship developed. Once this (temple) got completed, he was very concerned about ensuring people come from all directions of India and abroad – North, South, East, West. He was very worried that this temple should not become a temple of the North. So, every time he inquired about the number of devotees coming, the expected ratio, the proportion of people coming from the South. He felt at one stage that people who come from the South should not only accept it, but they should feel homely (at home). Please develop Ayodhya in a manner that it has cosmopolitan features. His other concern was the youth. He kept on repeating that the youth will ask what Ayodhya is and who Lord Rama is. He wanted them to know the cultural heritage of this country. So, many people say that Prime Minister Modi is the kind of prime minister who has revived the cultural heritage and wealth of this nation. This (the Ram temple in Ayodhya), according to him, was the central point around which we could then weave the other structures. Be it Kedarnath, be it Shiva temple in Madhya Pradesh, be it Ram temple somewhere in Maharashtra or Rameshwaram in South. The cultural revival, not in the conservative sense, but in the sense of an entire thought process. For the temple movement, led by the BJP, Ayodhya was a cause for correcting a historical wrong. Do you think a reconciliation has been achieved? The message I was given by the prime minister was there should be nothing negative about what happened. There are inscriptions in front of the temple in Hindi and English. Nowhere have we used the name that such and such person came and he destroyed the temple. It is mentioned, of course, that the temple got destroyed, then the aandolan and finally culmination in the Supreme Court judgement, and its acceptance at the national level. The PM's message was, please do not discuss negative thoughts. He kept mentioning that if you make that a prominent message, the younger generation would feel small. He did not want the younger generation to suffer from these temporary shocks that Sanatan Dharma faced. The younger generation should know how we have regained and conserved. You have been in the government for long – as a DM, a telecom regulator, and then in the Prime Minister's office. Having seen politics, economy and society from a vantage position, how do you interpret the post-temple mood among those who were part of the movement? Do you see them moving forward or do you see multiple claims still coming for temples to be built in different places? I place this responsibility not so much on the government. It will have to be of various social groups, representatives, elected or not elected – they must recognise. They have limits on correcting issues. We all know that the time which has gone does not come back. We do not keep it in our clutches. Once they realise that the time has gone by and once they realise the dream of the future while living in the present, then the society will be more positive, and will look towards the issues of development. After all, there is another agenda. You and I are worried. There is 7% growth. Will I maintain it? I am going to be the third country in terms of economic power very soon. Why can't I become number 2 or 1? China is always in our memory – that they are far ahead of us. If these are the challenges, we weaken society by disintegration. We should rather strengthen the society to divert this energy to development… Social leaders of my country have a great responsibility. In size, India would probably replace Japan as the fourth-largest economy… From the economic point of view, what should be the focus? …we may have crossed (Japan) but they don't have so many poor, they don't have problems with proper nourishment. They don't have problems with education and health. I may say that I produce maximum milk, but does everyone take milk? The answer is no. So, my target should not be that I am maximum (at these parameters). My target should be, am I giving each individual the gains of my growth? I put health, wellness, hospitals at number 1, education at number 2, and third and most important is empowering the rural women. My agenda will be to achieve these goals. The inclusivity of the Ayodhya project is reflected in what you said. But we also see Sambhal (the row over Jama Masjid there) coming up… It's a problem. It's very special, deeper. Certain issues are in some manner localised. I always say the judgment on Ram temple was accepted by all only because it was by the Supreme Court. Everything got normalised. Everyone was then following daily routines. We can not seek justice for the past. It has to be forgotten. The temple construction is almost over. You are also the Chairperson of the Prime Ministers Museum and Library. What role do you visualise for yourself over the next few years? I am speaking about this for the first time. I have started thinking how long and how much. Perhaps, I will have to set the path, that I am useful up to this point, and beyond that I must divert my energies somewhere else. I am there in the Sangrahalaya. That assignment is with me. I will have to find some kind of constructive work to devote my time after six months or so. Do you see the Ayodhya city growing in terms of prosperity, too, alongside the rise in tourism? When I first came from Lucknow, Ayodhya was not even the size of a tehsil town. While we were seeing this battle in the courts and in other places, the local inhabitants belonging to different communities grabbed it (the opportunity)… A person earning Rs 500 is earning Rs 1,000 today. With that, of course, economic exploitation will come. People are encroaching on land. Speculation of land price is at its peak because the investments are coming, and the investment people want to maximise gains. At this stage, a planned growth is required. The temple pulls devotees and tourists. Do you think there should be more to make them stay in Ayodhya, since people come here but leave by evening? Yes. This should not become Agra. People stay in Delhi, come to Agra, and return. There is nothing else in Agra except the Taj Mahal. That was one agenda in my mind. Outside the premises of Ram temple, the social-cultural site has to be found. So, people spend a day or two more in Ayodhya. We must build 5-stars, community halls, and there have to be a lot more cultural presentations. P. Vaidyanathan Iyer is The Indian Express's Managing Editor, and leads the newspaper's reporting across the country. He writes on India's political economy, and works closely with reporters exploring investigation in subjects where business and politics intersect. He was earlier the Resident Editor in Mumbai driving Maharashtra's political and government coverage. He joined the newspaper in April 2008 as its National Business Editor in Delhi, reporting and leading the economy and policy coverage. He has won several accolades including the Ramnath Goenka Excellence in Journalism Award twice, the KC Kulish Award of Merit, and the Prem Bhatia Award for Political Reporting and Analysis. A member of the Pulitzer-winning International Consortium of Investigative Journalists (ICIJ), Vaidyanathan worked on several projects investigating offshore tax havens. He co-authored Panama Papers: The Untold India Story of the Trailblazing Offshore Investigation, published by Penguin. ... Read More
The Hindu
05-06-2025
- Business
- The Hindu
Egmore railway station redevelopment work gathers pace
The Egmore railway station is set for a major transformation in outlook as well as passenger amenities on various fronts, as the redevelopment project is gaining pace and is expected to be completed by the end of this year. The Dr. MGR Chennai Central station is the numero uno terminal in the city. The 114-year-old Egmore railway terminal is the gateway for hundreds of trains operated to the south and down south parts of the State and remains as the important link towards the Gudur route in Andhra Pradesh. The station handles more than 560 train services including suburban train services daily. The heritage-tagged railway terminal is undergoing redevelopment at a cost of ₹734.91 crore by Hyderabad-based DEC Infrastructure and Project India with the project management service awarded to Tata Consulting Engineers. M. Senthamil Selvan, Chief Public Relations officer of Southern Railway, said the redevelopment project would put Egmore railway station in the international range of standards for passenger amenities and operation of trains with the focus being to remove the cluttered and congested passenger movements by creating dedicated separate arrival and departure of passengers similar to airports. As part of the access facilities for the passengers a total of 32 escalators and 47 lifts are proposed to be installed at various points of the mega terminal to be spread over 1.35 lakh square metres. The redevelopment project has been designed in such a way to merge the modern design while retaining the facade of the heritage building housed on Gandhi Irwin Salai. As part of this two new station buildings would come up to have ease of access from the two arterial roads including Gandhi Irwin Salai and Poonamallee High Road with arrival and departure concourses, multi level car parking, foot over bridge, connectivity to all platforms, food plazas, modern public conveniences, and new electrical substation. In this redevelopment work which has been divided into 13 sub projects four sub works have been commenced and the remaining works to be started by next month. As part of energy conservation the station would have rooftop solar power with an installed capacity of 2.95 mega watt per hour. S. Arun, a regular suburban commuter, wanted the redevelopment project, which was initiated nearly two years ago in 2022, to be completed fast as the project was progressing slowly. M. Ganesan, a resident of Kodambakkam, complained about the escalator in the suburban section located on north side of the railway station not operating regularly causing severe inconveniences to the commuters.
