Latest news with #VGF
Time of India
a day ago
- Business
- Time of India
Sarnaik Changes previous Stand for demanding cancellation of E-Bus Contract; Says Buses Needed in 'Larger Public Interest'
Mumbai: Less than a week after strongly criticising the company for delaying the supply of 5,150 electric buses on lease to MSRTC and demanding the cancellation of the contract, transport minister Pratap Sarnaik made a sudden volte-face on Friday. He informed the media that "the corporation must receive the supply of e-buses as per the revised schedule. " This decision came after a meeting with the wet lease company representatives, additional chief secretary (transport) Sanjay Sethi, and other senior officials on Friday. Sarnaik clarified that he was part of the govt, which continuously strives to provide facilities to passengers. His decision to now direct MSRTC to receive the supply of e-buses as per the revised schedule comes in "the larger interest of passengers who will benefit from these 5,000 plus buses in the long run. " It is learnt that the MSRTC signed a contract with the company to supply 5,150 electric buses on lease, of which 220 were delivered to date. These include both 12-metre and 9-metre long buses. The corporation created a department-wise account system to pay the company from the revenue generated by the electric buses. So far, Rs 60 crore was paid to the company, and the remaining Rs 40 crore is planned to be paid soon, sources said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trending in in 2025: Local network access control [Click Here] Esseps Learn More Undo Sarnaik told the media that considering the operational losses incurred with the supplied buses, a proposal for Viability Gap Funding (VGF) should be sent to the state govt to secure financial support. "While operating the buses, the corporation is incurring a loss of Rs 12 per kilometre for 12-metre buses and Rs 16 per kilometre for 9-metre buses. As a result, the corporation is expected to bear a loss of Rs 3,191 crore over the next few years," he said, adding that the govt should bear the losses through VGF. A meeting will be held in this connection (regarding losses and VGF) with Chief Minister Devendra Fadnavis, Deputy Chief Minister Eknath Shinde, and Deputy Chief Minister Ajit Pawar. Meanwhile, the existing Shivshahi buses operated by the ST Corporation should be gradually reconstructed and converted into Hirkani (semi-luxury) buses, the minister said. "These buses should be painted in the traditional green and white colours, as they were previously," he added.
The Hindu
4 days ago
- Business
- The Hindu
APATA leaders meet Odisha Governor, thank him for new flight to Vizag
A delegation of the Andhra Pradesh Air Travellers' Association (APATA) met Odisha Governor K. Haribabu at the Raj Bhavan in Bhubaneswar on Tuesday and thanked him for his role in facilitating a new IndiGo flight between Bhubaneswar and Visakhapatnam by coordinating with the Odisha government to secure Viability Gap Funding (VGF) support. Flight 6E 6214 will commence operations from June 12. It will land in Visakhapatnam at 1.55 p.m. and take off from Visakhapatnam at 2.25 p.m. Starting June 13, IndiGo flight 6E 1443 will connect Visakhapatnam to Abu Dhabi, operating four days a week – Monday, Wednesday, Friday, and Sunday. This marks a significant boost to air connectivity from Vizag and Andhra Pradesh, according to a statement issued by APATA leaders O. Naresh Kumar and D.S. Varma.
Business Standard
4 days ago
- Business
- Business Standard
Bondada Engineering secures Rs 204 cr LoA from TGGENCO
Bondada Engineering has secured LOA from Telangana Power Generation Corporation (TGGENCO) for setting up of 100 MWh (50MW x 2 hrs) Battery Energy Storage Systems in Telangana for 'on demand' usage under Tariff-based Global Competitive Bidding with Viability Gap Funding (VGF) under Build Own Operate at Shankarpally, Telangana near 400/220KV substation of TGTRANSCO. The value of the order is Rs 204.20 crore. Powered by Capital Market - Live News
Time of India
18-05-2025
- Business
- Time of India
Bengaluru tunnel commute may cost Rs 318 one-way soon
Urban Development Department BBMP A flat toll of `19 per kilometre is already on the higher side for urban commuters. If this rate is subject to annual revisions, as is typically the case with such projects making it one of the most expensive commutes in the country –Senior urban mobility expert Viability Gap Funding Commuters may have to pay `318 to use the proposed North-South twin tunnel corridor, if the estimated toll of `19 per kilometre is implemented. The corridor spans a total length of 16.745 km from Hebbal (Esteem Mall Junction) to Silk Board Junction via HSR ambitious underground twin tunnel project in Bengaluru, designed to ease congestion along the North-South axis, is inching closer to reality. A detailed 126-page proposal has been submitted by theseeking state cabinet approval for its design, construction, operation, and to the proposal, commuters using the entire stretch could be charged `318—making it one of the costliest intra-city commutes in the country. The toll rate of `19 per kilometre, recommended by a private consultant based on traffic projections, is being seen as steep by urban mobility twin tunnel will run from Hebbal's Esteem Mall Junction to Silk Board Junction via HSR Layout, covering 16.745 km. It will feature three main carriageways along with two- or three-lane entry and exit ramps. The total cost of the corridor is estimated at `17,780.13 Bruhat Bengaluru Mahanagara Palike () has submitted a detailed project report (DPR), which incorporates suggestions and recommendations from an expert committee report dated May 5. The plan proposes implementation in two phases—Package 1 (North), stretching from Hebbal to Seshadri Road, is pegged at `8,814.78 crore, while Package 2 (South), from Seshadri Road to Silk Board, is estimated at `8,965.35 project may be executed through the improved Build-Operate-Transfer (BOT) model, or under a Hybrid Annuity Model if BOT proves unviable. Additionally, `800 crore is sought for land acquisition and `150 crore for relocation works. Tenders will be floated after updating cost estimates in line with the expert committee's will be partly supported by(VGF), which can cover up to 40% of the project cost excluding GST. Of this, BBMP will contribute 40% of the VGF share to the selected approved, the corridor is expected to be operational by the 2029–30 financial year. However, concerns over affordability remain.'A flat toll of `19 per kilometre is already on the higher side for urban commuters. If revised annually, it could become one of the most expensive daily routes in India,' a senior urban mobility expert warned.
Hindustan Times
14-05-2025
- Business
- Hindustan Times
Explore ways to felicitate armed forces: Minister to airlines
Civil aviation minister Ram Mohan Naidu on Tuesday urged airlines to explore ways to acknowledge the contributions of the armed forces during Operation Sindoor, officials aware of the matter said. Naidu made the suggestion during a review meeting he chaired with airlines and senior aviation officials. The meeting comes a day after Airports Authority of India on Monday announced the resumption of civilian flight operations at 32 airports across northern and western India, but temporarily suspended flight operations north of Delhi after drones were spotted above some border districts. 'The minister, during the discussion, urged airlines to explore ways of acknowledging the contributions of the armed forces, such as through in-flight announcements,' an official close to the development said on condition of anonymity. 'Chaired a review meeting with all airlines and senior officials,' Naidu said in a post on X. 'With the NOTAM ending on May 15, I suggested that airlines resume their normal schedules from the 15th across all 32 airports for which the NOTAM was issued. All airlines responded positively to this suggestion.' The meeting, held at the Ministry of Civil Aviation (MoCA), included representatives from all Indian airlines, the Airports Authority of India (AAI), aviation secretary Samir Kumar Sinha, Faiz Ahmed Kidwai, Director General of the Directorate General of Civil Aviation (DGCA), and Videh Kumar Jaipuriar, chief executive officer (CEO) of Delhi International Airport Ltd (DIAL), as confirmed by photos shared by the minister. Officials close to the development said that Naidu asked all airlines to resume full operations by May 15. This comes as airlines like IndiGo, Air India, Air India Express, and SpiceJet have yet to return to their routine schedules. To be sure, flight restrictions that were imposed due to unrest between India and Pakistan last week, were lifted on Monday, effectively cancelling the previous directive that was to remain in place until 5.29 am on May 15. He further wrote, 'We, the Ministry of Civil Aviation, are proud to witness the aviation sector rising to the occasion with a unified commitment to 'Nation First.' With the continued support of airlines, airport operators, and other partners, the Ministry will stand firmly with the armed forces.' Officials also said that Naidu mentioned the success of Operation Sindoor. 'They (airline representatives) also mentioned that booking cancellations are already being observed, indicating weak travel sentiment just as the summer rush begins, 'he said. 'During the meeting, officials said, airlines also raised operational concerns. Some of them flagged the potential loss of Viability Gap Funding (VGF) during the period of airport closures,' a second official aware of the developments said.
