Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi - Singh launches energy, IT projects in Kerala  Join our daily free Newsletter

MENAFN - Arab News - 06/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Indian Prime Minister Manmohan Singh has launched three major projects in Kerala that are expected to provide much-needed stimulus to the southern Indian state's economy.

He dedicated to the nation the Rs46 billion (around SR2.7 billlion) liquified natural gas (LNG) regasification terminal of the Petronet LNG here which would fuel power projects with a total capacity of 1,000 MW and help the state to attain energy security.


The Petronet, which imports LNG from Qatar's RasGas, will also provide homes with cheap, clean and safe cooking gas through the City Gas project and make available compressed natural gas for vehicles.

The federal government has offered financial aid to convert the state-run diesel buses to CNG.

"In the coming years, this terminal would bring enormous economic prosperity to Kerala, in fact the entire south India," said the prime minister.
"Kochi has entered the world LNG map as an industry-oriented and investment-friendly destination."

The terminal, which is currently running at eight percent of its installed capacity, has already received two shipments from RasGas and started the supply to local consumers like the Fertilizers and Chemicals Travancore Limited (FACT) and Bharat Petroleum Corporation Limited (BPCL).

The first vessel from Qatar carrying 1,23,000 cubic meters of liquified gas arrived in August. The second vessel with 1,38,000 cubic meters of LNG reached the terminal a month later.

"The cleaner and greener energy would protect Kerala's natural beauty and it would meet the energy requirement of households and transport," he said.

"A new industrial corridor is also expected to come up along the route of the pipeline."

The laying of the pipeline to carry the gas to Mangalore and Kovai-Bengaluru is in progress despite stiff resistance at several places from the misguided local community fearing possibility of a burst which the firm rules out as absurd.
The first phase of City Gas is expected to be ready by December. Nearly half a million residents of the port city and nearby areas will get uninterrupted cooking gas, considered to be the fuel of 21st century. Since it was lighter than air, even if there was leakage, it would get easily diluted.
Oil and gas Minister Veerappa Moily urged the state to utilize the full potential of the project by making available the gas for households and vehicles in Thiruvananthapuram as well.


"We want to promote the use of LNG to meet 20 percent of India's energy needs by the next year. We would like to take the City Gas project to more homes and do it immediately," he said offering financial support to the state to popularize the LNG for domestic and transport purposes.

Fillip to IT industry
In Thiruvananthapuram, he laid the foundation stone for the world's largest corporate learning center of Tata Consultancy Services (TCS) with a capacity to train 50,000 technology professionals every year, and a software development center. The world-class learning facility will have a built-in space of 6.1 million square feet.

"TCS is also setting up a software development Special Economic Zone (here). (It) will further enhance its presence in Kerala. I hope to see even more initiatives by TCS and other IT companies in Kerala especially in view of the high quality of human resource in the State," the prime minister said.

The 15,000-seat Learning Campus with an outlay of Rs35bn will be located in 97 acres of the Technocity and the campus will feature residential accommodation for professionals and faculty at the center.
"The TCS Learning Campus will be the new benchmark for corporate learning worldwide and this iconic facility will produce world class professionals to meet the future needs of the IT industry," said N Chandrasekaran, CEO and managing director of India's largest software exporter.
The project will boost the local economy in the region and during the construction period alone, it is expected that this project will provide direct employment to over 2,000 skilled and unskilled local people for a period of four years.
An integral part of the project will be the skill development programs run by TCS to upgrade the skills of local youth and facilitate opportunities to work in the construction project, through contractors.
TCS is the single largest private sector employer in India with some 285,000 professionals working in the company worldwide and plans to hire 50,000 professionals before March 31 this year. It spends over 15 million hours on learning and development programs for its employees every year.

"Today is a very important day in the history of Kerala," said Chief Minister Oommen Chandy.

"A few years back, it was almost unthinkable. No one could visualize that Kerala will be home to such a large facility."
The Technopark hosts some 290 IT companies employing more than 45,000 professionals.

The new venture will certainly be a major boost to the IT sector in the state capital which will now get a global visibility.
"It is my dream to turn the youth of Kerala from

job seekers to job givers. There are already a good number of startup enterprises, which are lending us hope in this direction. More success stories will attract a larger number of such enterprises in the State," he aid.
The prime minister also launched an ambitious project of the state to make every citizen in the state computer literate within 33 months, coordinating technology and ensuring that the benefits of information technology are accessible to even the lower strata of society.
"The Total E-literacy Campaign to be implemented using the tools of Information and Communications Technology (ICT) will help in reducing the digital divide. This will contribute to improvements in the living standards of the underprivileged population of the State," he said.
Jointly launched by the federal and state governments in association with the departments of education, information technology and local self-governments, is led by the P. N. Panicker Vigyan Vikas Kendra, promoted by the Department of General Education.
The first stage of the e-literacy project will be implemented in 100 villages spread over 14 districts.
It aims at turning 1.5 million computer illiterates into e-literates.
"In fact we need such initiatives to be taken across the length and breadth of the country. This will help us in realizing the full potential of ICT- in decentralized governance, in better delivery of services, particularly education, in financial inclusion and in e-commerce," the premier said.

 


Arab News




  MENA News Headlines
 Oct 2 2014 - Qatar's Barwa to sell land for USD697mMENAFN
(MENAFN) Qatar's Barwa Real Estate announced it is planning to sell a land worth USD697.4 million to the government, Gulf Daily News reported.For the piece of land, located in Lusail City and which ...

 Oct 2 2014 - Oman's OIF to acquire 33.6 percent stake in TaageerMENAFN
(MENAFN) Oman Investment Fund (OIF) announced it is acquiring 33.63 percent stake in Taageer Finance Co. from Al Anwar Holdings, Muscat Daily reported.The deal, which is awaiting a formal approval ...

 Oct 2 2014 - Retaj seeks to invest in MoldovaMENAFN
(MENAFN) Retaj is looking for opportunities to invest in real estate, tourism and hotels in Moldova, as well as looking into different investment opportunities available in the country and also ...

 Oct 2 2014 - BP Oman awards 2 USD730m drilling contracts for Khazzan projectMENAFN
(MENAFN) BP Oman announced it has awarded two long-term drilling contracts for the Khazzan project, both valued at more than USD730 million, Times of Oman reported.The first contract was awarded to ...

 Oct 2 2014 - ME's carriers cargo growth up 7.8 percent in AugustMENAFN
(MENAFN) Middle Eastern carriers reported a growth by 7.8 percent in cargo in August, which is lower than the 2014 average of 9.6 percent previously expected, Arabian Business reported.Despite growth ...

 Oct 2 2014 - UAE, US sign MoU to increase energy cooperationMENAFN
(MENAFN) The UAE's Ministry of Energy announced it has signed a Memorandum of Understanding (MoU) with the US Ministry of Energy in order to strengthen the bilateral energy relationship, joint ...

 Oct 2 2014 - Abu Dhabi Ports to open ship-repairing facilityMENAFN
(MENAFN) Abu Dhabi Ports Company (ADPC) announced it has leased a land to Topaz Marine Engineering Division, one of the Middle East's leading marine engineering services, for the purpose of ...

 Oct 2 2014 - UAE writers celebrate UN honoring of His Highness the AmirKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The UAE Writers Union has celebrated the recent UN acclamation of His Highness the Amir (of Kuwait) Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah as an international ...

 Oct 2 2014 - Malaysia, FBI cooperate to uproot ISIL threatsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Malaysia would join the US-based Federal Bureau of Investigation (FBI) in the fight against Islamic State in Iraq and the Levant (ISIL) militants, Home Minister ...

 Oct 2 2014 - Two suicide attacks kill seven in KabulThe Peninsula
(MENAFN - The Peninsula) Two Taliban suicide bombers carried out separate attacks on Afghan army vehicles in Kabul yesterday, killing seven people and injuring 19, the government said, a day after ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help