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Showing posts with label joint meeting. Show all posts
Showing posts with label joint meeting. Show all posts

Tuesday, 8 September 2015

09:48

Australian partner UGL mulls exiting Texmaco Rail Joint Venturre

Australian partner UGL mulls exiting Texmaco Rail Joint Venturre

Mumbai: Rail freight car manufacturer and engineering services firm Texmaco Rail & Engineering Ltd today said its Joint Venture partner Australia-based UGL Ltd has initiated a discussion to exit from the Joint Venture due to drying up of orders in the Australian market.

“In view of downturn in locomotive sales in Australia impacting throughput volume of UGL, the JV facility, Texmaco Rail Pvt Ltd, which was set up in India primarily for catering to the requirements of Australian market through UGL, is starved of orders and not able to operate to its potential,” Texmaco Rail & Engineering Ltd said in a BSE filing.

It further said: “In view of the above, UGL has initiated discussion about the future of the project, including their view to exit from the joint venture. The matter is under active consideration.”

Texmaco Rail & Engineering Ltd added that there will be “no material impact on the company as the unit was commissioned on April 1, 2013 and in view of the market conditions in Australia, the unit has been operating below capacity.”

In December 2010, UGL Ltd hd announced that it has formalised a joint venture agreement with Texmaco Rail & Engineering Ltd. Texmaco and UGL decided to jointly establish a manufacturing facility at Texmaco’s facility at Belgharia in Kolkata. Texmaco and UGL had commenced commercial production in 2013.

Texmaco Rail stock price

On September 07, 2015, at 12:53 hrs Texmaco Rail and Engineering was quoting at Rs 111.00, down Rs 1.2, or 1.07 percent. The 52-week high of the share was Rs 170.75 and the 52-week low was Rs 75.95. The company’s trailing 12-month (TTM) EPS was at Rs 0.83 per share as per the quarter ended June 2015. The stock’s price-to-earnings (P/E) ratio was 133.73. The latest book value of the company is Rs 28.97 per share. At current value, the price-to-book value of the company is 3.83.
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Saturday, 25 July 2015

23:05

ALSTOM India & Alstom Transport S.A JV issued Letter of Acceptance (LOA) by DFCCIL

ALSTOM India & Alstom Transport S.A JV issued Letter of Acceptance (LOA) by DFCCIL

New Delhi: One of the flagship projects of Indian Railways namely Dedicated Freight Corridor continues to maintain implementation tempo. The Nodal PSU of Indian Railways entrusted with the implementation of this project namely Dedicated Freight Corridor Corporation of India Limited (DFCCIL) achieved yet another milestone by successfully awarding the System Contract for Bhaupur (Kanpur) – Khurja Section of Eastern Dedicated Freight Corridor (EDFC) Phase- I to AIL-ATSA JV.

This section has a 343 kms. (Double Track) length. This contract has been awarded on Design Build lump sum basis at a cost of about Rs.1497 crore. The work involves Design and Construction of Electrification, Signalling, Telecommunication, Buildings and other associated works. The contract has been awarded through International Competitive Bidding Process. The work is funded by World Bank.

For Electrification, Signalling, Telecommunications & related works for a railways project ALSTOM India announced that the proposed Joint venture (JV) of ALSTOM India (AIL) and Alstom Transport S.A. (ATSA) has been issued a Letter of Acceptance (LoA) by Dedicated Freight Corridor Corporation of India (DFCCIL) for Design, Construction, Supply, Testing and Commissioning of 2X25kv AC 50 Hz Electrification, Signalling, and Telecommunication and Associated Works of Double Track Railways Lines Under Construction on a Design Build Lump Sum Basis for Bhaupur-Khurja Section of Eastern Dedicated Freight Corridor (System Works Contract Package -104) for an accepted contract amount of approximately Rs. 1,497 (One thousand four hundred ninety seven) crore (INR 14.97 Billion).

The Electrification work includes Traction Power Supply, Over Head Equipment (OHE) and state of art SCADA for 2X25 kV System. The Signalling and Telecommunication work includes Automatic Signalling, Electronic Interlocking, Train Detection using Multi Section Digital Axle Counters (MSDAC), Train Management System, OFC based communication system, GSM-R based Mobile Train Radio Communication etc. The Building work includes Station Buildings, Operation Control Centre (OCC), Maintenance Depots and Residential Quarters. The Bhaupur-Khurja Section will have 10 stations at a spacing of 35-40 Kms of which 4 are Junction Stations connecting to Indian Railways for exchange of freight traffic. The system shall be designed to carry long Haul (1500 M.) Freight trains of 13000 tons at a maximum speed of 100 kmph and will improve the present average speed of 25 kmph on Indian Railway to 65 kmph. The contract for Civil Work is already awarded and the construction work is progressing at a fast pace. The complete Bhaupur–Khurja section is planned for opening during 2018.

Further the Company has informed that, AIL had completed the sale and transfer of its transportation systems undertaking (Transport Undertaking) to ALSTOM Transport India (ATIL), as a going concern on a ‘slump sale’ basis on 31 March 2014. Before the sale and transfer of the Transport Undertaking, AIL and ATSA had participated in the bidding process in February 2013 against which the aforesaid LoA has been issued by DFCCIL. Pursuant to the said LoA, AIL and ATSA shall incorporate a Special Purpose Company (SPC) for the purpose of executing the aforesaid project. The role of AIL in such SPC shall be limited only to equity participation not exceeding 5% (not exceeding Rs 8 crore).

DFCCIL, a Special Purpose Vehicle (SPV) is engaged in planning, construction, operation and maintenance of the dedicated freight corridors and in the first phase, the two corridors, namely, Eastern Corridor from Ludhiana to Dankuni (1840 kms) and the Western Corridor from Dadri to Jawaharlal Nehru Port (JNPT) (1502 kms) are being constructed. The entire Western Corridor is being funded by Japan International Cooperation Agency (JICA), while the Eastern Corridor from Mughalsarai to Ludhiana is being funded by the World Bank.
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Monday, 11 May 2015

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Friday, 8 August 2014

07:54

Will conduct ‘Joint Meeting’ of all Unions for ‘Sectoral Policy on FDI’ in Railways: Gowda

Will conduct ‘Joint Meeting’ of all Unions for ‘Sectoral Policy on FDI’ in Railways: Gowda

New Delhi: A day after the union cabinet’s decision permitting 100% Foreign Direct Investment (FDI) in the sector, Railway Minister Sadananda Gowda said that “model agreements” and a “sectoral policy” on the engagement with the private and foreign players would shortly be unveiled.

“Foreign players will bring in funds and new technology, which will fast-track big-ticket projects.  Our motto is to strengthen the Railways infrastructure to boost our economy, particularly in the stages of rapid transformations – both technologically and economy-wise, however safeguarding the Railways with utmost care and concern as well. There is no possibility of it being rolled back,” he said.

The decision — which permits railways public sector undertakings to off-load shares to foreign firms — has raised the hackles of rail unions. “A joint meeting of all unions is being scheduled for the month-end to formulate a response in the matter,” said Shiva Gopal Mishra of the All India Railway Men Federation, which claims to represent 11 lakh of the total of approximately 14 lakh employees of the public transporter.
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