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Tranche-I of sea erosion project to be completed by June 2016 in Ullal: Port Minister

[email protected] (CD Network)
January 25, 2015

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Mangaluru, Jan 25: Minister for Textiles, Ports and Inland Transport Baburao Chinchanasur said that all the tranches of ADB-funded project to prevent sea erosion would be completed in Ullal region of Dakshina Kannada by June 2016.

Addressing mediapersons at a press conference here on Saturday, he said that the first tranche of the project that includes construction of four inshore berms and two offshore reefs along with breakwaters, out of which the construction of the first inshore berm and breakwater was already underway. Two inshore berms, one offshore reef and breakwater are expected to be completed before the onset of monsoons this year, he assured.

According to the information provided by the minister, the construction work of four inshore berms at an estimated cost of Rs 25.21 crore had been handed over to RDS Projects Limited, Cochin and an expenditure of Rs 16.12 had been incurred so far. The construction work of two offshore reefs at an estimated cost of Rs 110 crore had been handed to Dharthi Dredging and Infrastructure Limited, Hyderbad and the cost incurred so far was Rs 28.52 crore. The reconstruction of breakwaters had been handed over to R B Chavan- Arjun Earth Movers, Mumbai through the tender process at an estimated cost of Rs 40.91 crore.

He said that the loan negotiations with ADB for the second tranche of the project would be done in October 2015.

In the second tranche, a total of 11 places had been identified along the coastline of Dakshina Kannada, Udupi and Uttar Kannada districts with the purpose of implementing a stable shore and preserving it, including Someshwara, Yermal Thenka, Udyavara, Kodi Bengre, Kodi Kanyana, Gangolli, Maruvanthe, Madikal, Shiroor, Murudeshwar and Pavinakurve, he said.

Mr Chinchansoor said that the state government intended to develop and modernise 12 minor ports along the coastline by offering the land to private companies on a lease basis under the Karnataka State Port Development Policy (KSPD) 2014, which would be a profitable venture for the state government.

On setting up of a Maritime Board for Mangaluru, he said that the proposal was still pending for approval before the President.

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News Network
March 30,2020

Bengaluru, Mar 30: Coffee Day Enterprises Ltd (CDEL) has received the first tranche of Rs 2,000 crore following disinvestment of Global Village Techparks to repay debts following the death of its founder V G Siddhartha.
In August last year, CDEL executed definitive agreements with entities belonging to Blackstone Group and Salarpuria Sattva Group for investment in GV Techparks, a wholly-owned subsidiary of group company Tanglin Development Ltd (TDL), at an enterprise value of Rs 2,700 crore.
The balance amount is expected to be received after the receipt of few statutory approvals, CDEL said in a statement.
"Out of the money received in first tranche, the company has paid off its debts in full including principal and interest amounting to Rs 1,644 crore to the lenders despite difficult economic conditions," it said.
Post this payment, the consolidated debt of the company and its subsidiaries stands at Rs 3,200 crore as on March 27. This includes debt of Rs 1,400 crore of its subsidiary Sical Logistics Ltd where disinvestment process is in progress.
"The company and subsidiaries have repaid around Rs 4,000 crore to the lenders since the beginning of this financial year," CDEL said.
"With the continuous support of stakeholders of the company, the current management is working to ensure better liquidity and operational efficiency. The company is confident of the future ahead despite various challenges," it added.
The company has been in rough waters after its founder V G Siddhartha took his own life as debt strains began to emerge in his company. Since his death in July last year, CDEL has been trying to divest its assets to pare debts.
On July 30, 2019, CDEL informed stock exchanges about Siddhartha's disappearance. In a letter that was purportedly written by him, the Cafe Coffee Day founder said: "I could not take any more pressure from one of the private equity partners forcing me to buy back shares."

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News Network
March 13,2020

Bengaluru, Mar 13: District administration in Kalaburagi, where the first death in India due to COVID-19 was reported, has identified over 25 people, who come close to the deceased and quarantined for observation, Minister for Health B Sreeramulu said on Friday.

In reply to a debate on the issue during Zero Hour of the Legislative Assembly, the Health Minister said that two members of the victim’s family and 23 others are suspected of COVID-19.

Mr. Sreeramulu said all the schools of the district have been as a preventive measure to contain the deadly virus.

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News Network
February 14,2020

Mysuru, Feb 14: Citing the coronavirus scare prevalent in the city, hotel owners have urged the civic corporation to shut down roadside food vends, calling them a risk to public health.

A team of the city Hotel Owners Association, led by president C Narayanagowda and honorary secretary Ravindra Bhat, met mayor Tasneem Bano and MCC commissioner Gurudatta Hegde on Tuesday and urged them to implement the high court’s ban on street food vending.

In a statement issued on Thursday, the association said it had raised the poor hygiene at such joints amid the coronavirus threat and increasing incidence of chikungunya and malaria in the city. There is no check on the ingredients or water used and the cleanliness of the kitchens and cooking staff, they pointed out. Many of the joints operate near drains and public urinals and don’t have running water for washing or cleaning utensils, they said. Besides, the vends dump unsegregated garbage and compromise pedestrian safety by blocking pavements, they alleged.

“As this involves the livelihood of the vendors, I will take a decision after discussions with the commissioner and elected representatives,” the mayor said while pointing out that MCC had issued identity cards to the vendors after collecting details about them and their stalls. She said the health and education standing committees would also be consulted.

Commissioner Hegde said MCC was planning to move the vendors to designated hawking zones to ensure their livelihood was not affected. He explained that any drive to remove the vends was fraught with law and order problems. “False cases have been filed against MCC officers whenever they conducted drives against footpath food vendors in non-hawking zones. We will consult with the city police commissioner before taking any steps,” he said.

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