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Development Watch – Week #3 March ’23

Development News

2047 Target for India’s Energy Independence

Through the adoption of clean technology, India can achieve energy independence by 2047. A study by Lawrence Berkeley National Laboratory, along with India Energy and Climate Center (IECC) at UCB’s Goldman School of Public Policy, says that rapid expansion of clean energy infrastructure will be needed. Electricity demand would increase 5 times from 1,300 TWh/year to over 6,600 TWh/year by 2050. This is due to transport, industrial electrification and green hydrogen production. This would need a scaling up of renewable energy deployment to 40 GW a year, going up to 100 GW a year between 2030 and 2050. Currently India imports 80-85% of its oil and coal requirements. Recent declines in clean energy costs will allow India to lower energy imports through investment in renewable energy, battery storage, electric vehicles, and green hydrogen.

World Trade Center for Kolkata

Merlin Group, a Kolkata based developer, has entered into an agreement with Merlin Group to develop a 3.5 mn sq ft World Trade Center in Kolkata. The first under-construction WTC in eastern India will come up with an investment of Rs. 1,500 crores in Nabadiganta Industrial Township Authority (NDITA) area in Salt Lake. It will support in attracting business and trade through 320 world trade centers in nearly 100 countries. India is one of the fastest growing regions in the WTCA global network. Mumbai was one of the first cities among initial WTC operations.

First Bharat Gaurav train for Telangana-Andhra

The first Bharat-Gaurav train service originating from Telangana-Andhra Pradesh would begin from March 18 under South Central Railways. The tourist circuit train will take passengers to some of India’s most ancient and significant places in eastern and northern parts of the country. The train departs from Secunderabad, covering important religious, historical and cultural sites across Puri, Konark, Gaya, Varanasi, Ayodhya and Prayagraj over a period of 8 nights. It is titled as “Punya Kshetra Yatra: Puri-Kasi-Ayodhya” tour. The train embarks on a monthly basis. As of date, 26 trips of Bharat Gaurav trains have operated through 22 states and 4 UTs in India. The tour package includes facilities like accommodation, wash and change, catering, and services of professional and friendly tour escorts.

India needs 31,000 pilots in next 20 years

As per US aircraft maker Boeing, India may require 31,000 pilots and 26,000 mechanics over next 20 years. This is amid growing order book of aircraft OEMs. Considering India’s air traffic growth, a lot of focus had been on making both soft and hard air infrastructure robust. Last month, Air India placed orders for 470 planes with both Boeing and Airbus. There is a huge demand for narrow body aircrafts in India. On the other hand, slow deliveries from aircraft and engine makers are impacting India’s aviation growth trajectory, even as demands continue to soar. Plane, engine and other component makers are grappling with supply bottlenecks and staff shortages leading to slower output and deliveries.

REC hands over 6 SPVs to Power Grid

Rural Electrification Corporation (REC) Power Development and Consultancy Ltd. has handed over 6 projects Special Purpose Vehicles to Power Grid. The projects were bagged by PGCIL through tariff-based competitive bidding process. PGCIL was the successful bidder for all 6 projects of the Ministry of Power, GoI. RECPDCL was the bid-process coordinator. New renewable power reforms would cater to the electricity capacity in India. Tariff-based competitive bidding for development of transmission systems for evacuation of RE power is one such mission. REC Ltd. is also into construction of 4 numbers of 220 kV GIS and AIS sub-stations along with associated 220 kV transmission lines of approximately 275 km in Ladakh.

3rd Ring Road for Delhi

Delhi’s 3rd Ring Road will open in 6 months. It is also known as Urban Extension Road (UER-2). The 6-lane road would be completed by September 2023, as per the recent announcement by NHAI. It will reduce travel time to half between Delhi-Chandigarh and Delhi-Gurgaon Expressways. It will pass through Dwarka, Nangloi, Shyam Vihar and Kanjhawla. UER-2 will be access controlled. It will also help reduce traffic on the outer ring road. Vehicles coming from Jaipur and Delhi can use it as a bypass instead of going through Dhaula Kuan and Ring Road. The project entails a total investment of Rs. 7,700 crores. It is part of the Delhi Decongestion Plan. Links are also planned for Bawana Industrial Area and Bahadurgarh bypass.

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