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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
July 31,2020

Bengaluru, July 31: Denying irregularities in covid-19 equipment purchase by the Karnataka government, the state unit of the BJP has issued legal notices to Congress leaders Siddaramaiah and D K Shivakumar demanding that they apologize or face a defamation suit. 

The notices seek a public apology for the allegations levelled against the government on irregularities in the procurement of Covid-19 equipment and supplies. 

Both Siddaramaiah and Shivakumar, the Karnataka Congress president, have been doggedly pursuing allegations of corruption against the BJP government and have demanded a judicial inquiry. 

BJP general secretary N Ravi Kumar said that while the Congress leaders claimed that Rs 4,157 crore was spent during Covid-19, they also allege that the government has not responded to any of the 20 letters written by them. "If the government has not provided any answer to the Opposition, where did they get the figures from," he said.

None of the allegations of corruption is specific and the statements made are factually incorrect. "These statements, without any basis, have been issued calculatedly to lower the image and damage the reputation of the government, the Bharatiya Janata Party, representatives of the party and the ministers in the government," the notice issued on behalf of Ravi Kumar read.

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News Network
May 26,2020

Bengaluru, May 26: After Yogi Adityanath said that no state can take manpower from Uttar Pradesh without his government's permission, Karnataka Pradesh Congress Committee (KPCC) president DK Shivakumar on Tuesday termed the Uttar Pradesh Chief Minister's move as "unconstitutional" and "against the right to freedom of movement."

"Uttar Pradesh Chief Minister Yogi Adityanath's move to restrict hiring people of Uttar Pradesh is unconstitutional and goes against the right to freedom of movement. Mr Yogi, please note that UP is not the private property of your govt. The people of Uttar Pradesh don't need your government's permission to work anywhere in India," Shivakumar tweeted.

"Mr Yogi doesn't understand the basic rules of governance in a democracy. Such actions lack common sense and will only make the people of Uttar Pradesh suffer more. When it's convenient for BJP, it's One Nation, when it's not, it's different states and different people. Heights of hypocrisy," he added.

Adityanath had on Monday said that the state government will provide social security and insurance to labourers and no state can take manpower from Uttar Pradesh without his government's permission.

"If any state wants manpower, they cannot take our people from the state without our permission as there were reports of misbehaviour with them in other states. We are taking full responsibility for labourers' social security. We will provide every kind of security to them including insurance. Wherever they will go, we will always stand by them," Yogi said.

The Chief Minister said that skill mapping is being done in Uttar Pradesh and a commission will be set up for labourers to ensure employment for them.

On Sunday, Adityanath had ordered the formation of a 'Migration Commission' for the purpose of providing the workers, who have returned to the state during the lockdown phase, with employment suited to their skills.

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News Network
January 10,2020

Bengaluru, Jan 10: Education technology company Byju’s is learnt to have raised $200 million in a funding round from Tiger Global Management, which has valued the Bengaluru-based start-up at around $8 billion, making it the third-largest unicorn (start-up valued over $1 billion) in the country.

With this, the Byju Raveendran-founded company has seen over 50 per cent jump in its valuation in just around nine months. In March 2019, Byju’s was valued $5.4 billion, when it raised around $31 million from General Atlantic, and Chinese investment giant Tencent.

At the current valuation, Byju’s has now replaced home-grown cab-hailing major Ola as the third-largest unicorn, next only to Paytm and OYO, which are valued around $16 billion and $10 billion, respectively.

Byju’s confirmed the transaction through a press statement, though the company declined to share any specific details of the deal. Tiger Global could not be immediately reached for its comments.

“We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long-term vision of creating an impact by changing the way students learn,” said Raveendran. “This partnership is both a validation of the impact created by us so far and a vote of confidence for our long-term vision.”

This is Tiger Global’s first investment in the edutech space in India after Vendantu, an online tutoring platform, where it, along with WestBridge Capital, led a $42-million round in August.

An early backer of India’s internet growth story, the New York-headquartered Tiger Global has been a prolific investor in the Indian start-up space. Its portfolio in the country ranges from consumer focused e-commerce companies that are vital for the growth of the sector, such as Flipkart, Delhivery, Grofers, Quikr and PolicyBazaar, to mention a few.

After tasting success with Flipkart, one of its earliest investments, where it had pumped in around $1 billion, the PE major is now doubling down its focus on the Indian start-up space, under its new investment head Scott Shleifer.

Shleifer, who set up international private equity practice for Tiger Global, is said to be as aggressive deal maker like his predecessor Lee Fixel, who left the investment firm in March. Since then, Tiger has also invested in a host of technology-focused companies in diverse sectors including Ninjacart, CRED, NoBroker and Facilio to mention a few.

“Byju’s has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India,” Shleifer was quoted in the press statement issued by the edutech firm.

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