6-Mar-2017: Cabinet approves signing of the Definitive Agreement on Oil Storage and Management between ISPRL and ADNOC of UAE

The Union Cabinet has given its ex-post facto approval for signing of the Definitive Agreement on Oil Storage and Management between Indian Strategic Petroleum Reserve Ltd (ISPRL) and Abu Dhabi National Oil Company (ADNOC) of UAE.

According to the Agreement, the ADNOC will fill up 0.81 MMT or 5,860,000 million barrels of crude oil at ISPRL storage facility at Mangalore, Karnataka.

Out of the crude stored, some part will be used for commercial purpose of ADNOC, while a major part will be purely for strategic purposes. The signing of the Agreement will augment India's energy security.

India and UAE are strategic partners. The investment by ADNOC is a major investment from UAE under the High Level Task Force on Investment (HLTFI) and the first investment by UAE in India in the energy sector.

22-Feb-2017: Cabinet approves the investment proposal for generation component of Arun-3 Hydro Electric Project in Nepal.

Cabinet approves the investment proposal for generation component of Arun-3 Hydro Electric Project in Nepal by SJVN Limited, a Central Public Sector Enterprises of Government of India.

The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi has approved:

  1. Investment for generation component of Arun-3 HEP (900 MW) for an estimated cost of Rs. 5723.72 crore at May 2015 Price Level.
    Completion period of the project shall be 60 months from the date of financial closure which is planned for September this year.
  2. Ex-post facto approval for the existing implementing agency, already incorporated in the name of SJVN Arun-3 Power Development Company (P) Limited (SAPDC) registered in Nepal as a 100% subsidiary of SJVN Limited for implementing the project.
  3. Any component of work already or being made by the Nepalese authorities shall be so certified by Central Electricity Authority (CEA) and shall be accordingly deducted from the project cost requirements.

The project is located on Arun River in Sankhuwasabha District of Eastern Nepal. The Run-of-River scheme envisages about 70 metres high concrete gravity dam and Head Race Tunnel (HRT) of 11.74 Km. with underground Power House containing four generating units of 225 MW each on Left Bank.

SJVN limited bagged the project through International Competitive Bidding.   An MoU was signed between Government of Nepal and SJVN Limited for the project in March, 2008 for execution on Build Own Operate and Transfer (BOOT) basis for a period of 30 years including five years of construction period.  The Project Development Agreement (PDA) signed on 25.11.2014, which provides 21.9% free power to Nepal for the entire concession period of 25 years. Employment generation of around 3000 persons is envisaged in construction of the project from both India and Nepal.

The project will provide surplus power to India strengthening power availability in the country and will also strengthening economic linkages with Nepal. The power from the project shall be exported from Dhalkebar in Nepal to Muzaffarpur in India.

17-Jan-2017: Minister of Railways Unveils Mission 41k

Minister of Railways Shri Suresh Prabhakar Prabhu unveiled Mission 41k during the Roundtable Discussion with External Stakeholders on Energy Initiatives of Indian Railways. Shri Suresh Prabhu said that Ministry of Railways has come up with Mission 41k to save Rs. 41000 crore in the next decade in Railways’ energy costs. To implement this comprehensive strategy with the participation of various stakeholders, we shall take advantage of regulatory frameworks, look at new technologies. He said that this is an opportunity to relook at everything and determine an ideal baseline. All electrification works done in the last decade would be doubled and this would change the energy mix of Indian Railways. Indian Railways has set a target of 1000 MW of solar power and 200 MW of wind energy.

Shri Prabhu also informed that around 15 – 16 Roundtable Conferences with Stakeholders are in the pipeline on various initiatives of Indian Railways. He said that a Round Table discussion is planned on Data Analytics. Indian Railways generates massive amounts of data and has a huge captive audience. Ability to optimally utilize these will generate additional revenue for the Indian Railways.