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The Hindu
3 days ago
- Business
- The Hindu
A.P. Cabinet nod for Quantum Computing Centre in Amaravati, Bulk Drug Park expansion at Nakkapalli
The Andhra Pradesh State Cabinet, chaired by Chief Minister N. Chandrababu Naidu, approved a series of transformative proposals during its meeting held at the State Secretariat on Wednesday. These include the establishment of a Quantum Computing Centre in Amaravati, the expansion of Bulk Drug Park in Nakkapalli, and significant financial and administrative initiatives. Addressing the media after the Cabinet meeting, Information and Public Relations (I&PR) Minister Kolusu Parthasarathy stated that the government anticipated an investment of ₹4,000 crore through the proposed Quantum Computing Centre in the capital. He announced the Cabinet's approval for acquiring an additional 790 acres of land for the Bulk Drug Park proposed at Nakkapalli. The Cabinet also approved the Andhra Pradesh Space Policy 2025–30, aiming to make the State a hub for space-based industries and research. Other important decisions include approval for loan guarantees from HUDCO and facilitating a fund of ₹10,000 crore to improve drinking water supply infrastructure. The Cabinet gave its nod to construct facilities for the World Economic Forum in Amaravati, aligning with the government's global investment outreach. The son of freedom fighter Thota Chandrayya would be offered a government job, recognising the services redered by the family to the nation, he said. Green tax reduced The Cabinet took a corrective step on environmental taxes, reversing the steep increases imposed by the previous government. 'The YSRCP government had increased the green tax. We have reduced it by up to ₹3,000 now,' he said, adding that these decisions mark the State's strategic push towards infrastructure, industry, and technological advancement The Minister said that the Cabinet approved the proposal to provide a shortfall guarantee to Andhra Pradesh Airports Development Corporation Limited, and permit it to secure a loan of ₹1,000 crore from the HUDCO. This loan is intended to meet the expenditure for the development of airports at Kuppam, Dagadarthi, Srikakulam and Amaravati, providing Viability Gap Funding (VGF) support for the Kuppam airport, and clearing urgent pending liabilities of the APADCL, he added.
Mint
4 days ago
- Business
- Mint
Small-cap stock jumps 5% on receiving project worth ₹465 crore from NTPC arm
Oriana Power share price rallied nearly 5% on Tuesday after the company announced the receipt of Letter of Award (LOA) for a project from a subsidiary of state-run NTPC. The small-cap stock surged as much as 4.97% to ₹ 2,196 apiece on the NSE. Oriana Power said it has received Letter of Award (LOA) from NTPC Vidyut Vyapar Nigam Ltd (NVVN) for setting up of 125 MW/ 250 MWH standalone Battery Energy Storage Systems (BESS) at location provided at Giral Sub-Station in the state of Rajasthan with a Viability Gap Funding (VGF). 'The initiative of BESS will improve grid stability by balancing supply and demand, reducing the risk of blackouts, and enhancing overall grid efficiency. The project will be executed under the build-own-operate (BOO) model,' Oriana Power said in a regulatory filing on July 7. The broad consideration or size of the contract is ₹ 465.15 crore over a period of 12 years from the Scheduled Commissioning Date of the Project. The time period by which the contract is to be executed is 18 months from the effective date of Battery Energy Storage Purchase Agreement (BESPA), the company added. NTPC Vidyut Vyapar Nigam Ltd. (NVVN) was formed by NTPC in the year 2002, as its wholly owned subsidiary. Oriana Power shares are listed on NSE Emerge, a platform for SME companies. Oriana Power share price has fallen 4.3% in one month, and has declined 4% on a year-to-date (YTD) basis. The SME stock has dropped 13% in the past one year. At 10:30 AM, Oriana Power share price was trading 4.92% higher at ₹ 2,195 apiece on the NSE.
Mint
5 days ago
- Business
- Mint
Small-cap stock jumps 5% on receiving project worth ₹465 crore from NTPC arm
Oriana Power share price rallied nearly 5% on Tuesday after the company announced the receipt of Letter of Award (LOA) for a project from a subsidiary of state-run NTPC. The small-cap stock surged as much as 4.97% to ₹ 2,196 apiece on the NSE. Oriana Power said it has received Letter of Award (LOA) from NTPC Vidyut Vyapar Nigam Ltd (NVVN) for setting up of 125 MW/ 250 MWH standalone Battery Energy Storage Systems (BESS) at location provided at Giral Sub-Station in the state of Rajasthan with a Viability Gap Funding (VGF). 'The initiative of BESS will improve grid stability by balancing supply and demand, reducing the risk of blackouts, and enhancing overall grid efficiency. The project will be executed under the build-own-operate (BOO) model,' Oriana Power said in a regulatory filing on July 7. The broad consideration or size of the contract is ₹ 465.15 crore over a period of 12 years from the Scheduled Commissioning Date of the Project. The time period by which the contract is to be executed is 18 months from the effective date of Battery Energy Storage Purchase Agreement (BESPA), the company added. NTPC Vidyut Vyapar Nigam Ltd. (NVVN) was formed by NTPC in the year 2002, as its wholly owned subsidiary. Oriana Power shares are listed on NSE Emerge, a platform for SME companies. Oriana Power share price has fallen 4.3% in one month, and has declined 4% on a year-to-date (YTD) basis. The SME stock has dropped 13% in the past one year. At 10:30 AM, Oriana Power share price was trading 4.92% higher at ₹ 2,195 apiece on the NSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Hans India
05-07-2025
- Business
- Hans India
P4 Foundation launched to eradicate poverty by 2029
Vijayawada: Chief Minister N. Chandrababu Naidu on Friday chaired the inaugural general body meeting of the Swarnandhra-P4 Foundation, signalling the official launch of a comprehensive programme aimed at making Andhra Pradesh a poverty-free state by 2029. The meeting, held at the Secretariat with ministers, public representatives, and officials joining via video conference, saw the Chief Minister finalise the P4 logo and lay out the strategic framework for its implementation. After reviewing six proposed designs, the official P4 logo was approved. The Chief Minister directed extensive outreach measures to promote the logo and share success stories and case studies of 'Bangaru Kutumbams' that have benefited. He also emphasised adequate recognition for mentors. To ensure widespread and effective execution, CM Naidu announced the formation of two central committees: a state-level executive committee and an advisory committee. Furthermore, P4 chapters will be established at both district and constituency levels. These chapters will comprise vice-chairmen of the Swarnandhra-P4 Foundation (including assigned ministers), public representatives, and government officials, ensuring a collaborative approach across all administrative tiers. The immediate goal is to identify 1.5 million 'Bangaru Kutumbams' by August 15 and appoint 1,00,000 dedicated guides. These guides will provide continuous support, offering initial aid and ongoing mentorship. 'It's not enough to assist once; we need committed mentors who stay engaged,' the CM stressed. He urged the identification of mentors from diverse backgrounds, including NRIs, industry leaders, and philanthropists, who are already contributing to poverty alleviation. 'With P4, our vision is to eliminate poverty in the state by 2029. This isn't an ordinary goal—it's a battle we must win to make history,' declared Naidu. He highlighted that resolve can make the impossible possible and encouraged the adoption of evolving development paradigms such as PPP (Public-Private Partnership) models and new VGF (Viability Gap Funding) mechanisms to accelerate the state's growth. Each constituency aims to select 6,000–10,000 'Bangaru Kutumbams,' presenting a significant opportunity for MLAs to serve their constituents directly. The Chief Minister specifically lauded Bapatla district for its exemplary leadership in P4 implementation, attributing its success to the dedication of local representatives and the district collector. Ministers, public representatives, Swarnandhra-P4 Foundation vice-chairman Parivararao, and principal secretary chief secretary K Vijayanand were among the senior officials present at the meeting.
Time of India
03-07-2025
- Automotive
- Time of India
CII push for to critical minerals : From licensing ease to global FTAs, industry lays blueprint; auto slowdown warning adds urgency
The Confederation of Indian Industry (CII) has called for a comprehensive overhaul of India's critical minerals policy, urging the government to allow automatic mining rights to companies awarded Exploration Licences. The industry body also pressed for viability gap funding and focused Free Trade Agreement (FTA) provisions to secure strategic mineral supply chains. 'Environmental regulations should be streamlined and enhanced through the adoption of technology. CII recommends implementing a unified compliance framework that consolidates all state and central environmental clearances,' said Rajiv Memani, President of CII, during a press conference in New Delhi, quoted ANI. CII also recommended the establishment of a National Critical Minerals Data Repository to improve data transparency and accessibility. Noting the long gestation period and risks associated with mineral exploration, the industry body emphasised the need for government support through Viability Gap Funding and dedicated financial mechanisms to draw in private investment. To secure overseas supply chains, CII urged the government to include critical minerals in future FTAs with resource-rich countries such as Australia, Peru, Chile, Indonesia, and Oman. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo In a broader push for energy transition, CII suggested drawing up sector-specific strategies for mobility and creating Green Hydrogen and Renewable Energy hubs. 'CII would also be launching a Mission on Energy transition, to encourage industry to shift to low-carbon alternatives,' Memani added. He also flagged growing concerns over raw material shortages in key industries. 'Auto is a big concern. In some other sectors also there are concerns. In the auto, the concerns are more serious than what's come out till now. In fact, some of the most conservative companies are already starting to give some guidance on lowering their production levels going forward,' Memani said. CII projected that India's economy could grow at 6.4–6.7% in 2026–27, supported by strong domestic demand. The industry body said India has shown greater economic resilience than major global peers such as China, the UK, the US, and the Euro area, and called for next-generation reforms to improve ease of doing business. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
