Reliance Infra to exit road business may sell entire portfolio to ease

first_imgReliance Infrastructure is nearing a deal to sell all of its road projects to Canada-based Brookfield Asset Management firm. The sale is a part of the company’s strategy to restructure its heavy debt by exiting from capital intensive businesses like road construction.The deal, estimated to be Rs. 8000 crore, had reached an exclusive negotiation phase, and a definitive sale agreement could possibly be signed in August, sources told the Economic Times.Anil Ambani-led Reliance Infrastructure is also one of the National Highway Authority of India’s (NHAI) biggest concessionaire with concession period ranging from 18 to 30 years. With 11 road projects spanning 1,000 km across India’s seven key states, the projects also encompass cities like New Delhi, Bangalore, Jaipur, Agra, Gurgaon, Pune and others mostly located on high traffic urban corridors.The news daily noted that the ADAG’s infra business had invested around Rs. 7,500 crore to Rs. 8,000 crore on the complete road assets.The company’s road business earned Rs. 653 crore in revenue in 2016 and is slated to touch Rs. 900 crore in 2017 when all the 11 projects complete a year of operation. Though all its road assets are revenue generating at present, the company sits on Rs. 5,000 crore debt. Estimated investments for the entire portfolio of roads is between Rs. 7,500 crore to Rs. 8,000 crore.For Brookfield, the assets are worthy investments as they fall under its core sectors of property, infrastructure, power and private equity. The company’s India head noted that “the assets themselves are not stressed, but are world class. They just happen to belong to businesses that are stressed” in India.With the sale of road business, Reliance Infra’s standalone debt is expected to ease, helping the company focus on high return of equity areas like defence manufacturing and engineering, procurement and construction (EPC) businesses.As of March 31, the company’s standalone debt was Rs.15,500 crore, while its consolidated debt was Rs. 25,000 crore.last_img read more

Alien hunter spots UFO in images taken during Apollo 12 lunar mission

first_imgNASA/ET DATA BASEIt was in November 1969 that NASA launched the Apollo 12 manned lunar mission. The mission became successful, and the United States space agency successfully landed humans for the second time on the moon after the historical leap made by Neil Armstrong. Now, almost 60 years after the historical mission, prominent alien hunter Scott C Waring has claimed to have discovered a UFO in one of the reexamined Apollo 12 archive photos.”The UFO is hovering over the horizon but at a tilted angle, much like Bob Lazar said about the UFO he worked on in Area S4 needing to tilt to move. The astronauts must have seen it, its not like there is a lot to see on the moon but dust and rocks, but a UFO of this size hovering…must have really blown their minds,” wrote Waring on his website ET Data Base.Waring also added that the possibility of this object being a glitch on the camera is very low.It should be noted that the anomaly spotted by Waring is so small on the real photograph, and he enlarged it to take a close look. Interestingly, the shape of the object spotted in the photo seems very similar to the alleged Black Knight satellite that is out there on earth’s orbit to monitor human activities.Conspiracy theorists also believe that this black knight satellite is deployed by an advanced alien race which is now working hand-in-glove with NASA. A video uploaded by Waring to YouTube that features this new finding has now emerged as the hottest debating point among conspiracy theorists and alien enthusiasts. After watching the video, followers of Waring also put forward several possible theories to explain this bizarre UFO sighting.”That is really cool Scott. Great find. The astronauts supposedly said that they where being watched. Looks like you found proof. Could be the Black Knight or some other type of craft,” commented Terrys Theories, a YouTube user.”Reminds me of the black knight satellite? Looks different at different angles. It is rumoured to an alien craft that shifts around,” commented Corey Frady, another YouTuber.last_img read more

KVIC exports khadi articles to Trinidad and Tobago

first_imgWhen on August 15 India would be celebrating its 71st Independence Day, a small twin country in North Atlantic would also have a reason to celebrate its association with India.The articles of Khadi are all set to touch the shore of Trinidad and Tobago this month as Khadi and Village Industries Commission (KVIC) despatched its consignment of Khadi products to the High Commission of Trinidad and Tobago on August 2.On July 5, Bishwadip Dey, Indian High Commissioner to Trinidad and Tobago met KVIC Chairman Vinai Kumar Saxena at his New Delhi office and informed him that there is a considerable population of Indian origin there. Also Read – Add new books to your shelfAs the Indian High Commission had decided to provide khadi gift hampers to some dignitaries on Independence Day this year, it ordered for a supply of 200 boxes of Khadi napkins in paperboard packing and 150 boxes of khadi napkins in wooden box packing. Not only that, the Indian High Commission had also expressed its desire to purchase khadi yoga kit, khadi yoga mat, diary made out of handmade paper with quotes of Gandhiji, and garland made out of sandalwood bark from KVIC. Also Read – Over 2 hours screen time daily will make your kids impulsiveWith this supply order, KVIC Chairman appears very enthusiastic. “Keeping in view the large number of population of Indian origin and initiative of prime minister Modi to popularize Khadi globally, we decided to facilitate as many as 110 elderly Indians aged 90 to 110 years on September 8, by offering them Khadi angvastram,” said Vinay Kumar Saxena, adding, “As the High Commissioner requested KVIC to gift 110 pieces of shawls / Angvastram along with the same number of Tricolour Khadi gundi mala of one hank length, we dispatched those items to the High Commission as a goodwill gesture.”Saxena further said that keeping in view the future prospects of Khadi marketing, KVIC had also decided to participate in the nine days’ Diwali festival fair during November 2018 in Trinidad and Tobago. It will create awareness about Khadi among the people and also helpful in identifying potential buyers.last_img read more

Game of Drones As US Dithers on Regulations Rivals Get a Head

first_imgMarch 9, 2015 4 min read Free Webinar | Sept. 9: The Entrepreneur’s Playbook for Going Global Register Now » This story originally appeared on Reuters Drones, or unmanned aerial vehicles (UAVs), are a hot ticket in Silicon Valley, but U.S. government dithering over regulations has given overseas companies a head-start in figuring out how best to exploit them.Global spending on drones could add up to close to $100 billion over the next decade, with commercial uses – from farming and filming to pipelines and parcels – accounting for around an eighth of that market, according to BI Intelligence.But for years, the Federal Aviation Administration (FAA), the authority largely responsible for regulation in the United States, has dragged its feet, only last month issuing draft rules on who can fly drones, how and where. It’s likely to be a year or more before the regulations are in place – good news for companies operating outside the U.S. and looking to build a business around drones.Sky-Futures, a British company that dominates the use of drones to collect and analyze inspection data for oil and gas companies, says its business soared 700 percent last year as the normally conservative energy industry embraced the new technology. Co-founder and operations director Chris Blackford said the company is coupling drones with software and a better understanding of what works in the field, giving Sky-Futures “a head-start over the U.S because we understand pretty intimately the problems facing the oil and gas market, and how we can solve them with technology.”Looser regulations outside the U.S. have created pockets of innovation attracting ideas, money and momentum, says Patrick Thevoz, co-founder and CEO of Swiss-based Flyability, which builds drones inside a spherical cage that allows them to bump through doors, tunnels and forests without losing balance.Another British company, BioCarbon Engineering, hopes to speed up reforestation by using drones to plant germinated seeds, and shares in New Zealand-based Martin Aircraft trebled in the first few days after listing in Australia last month, on investor hopes for the personalized aircraft maker which is developing a UAV that could be used by the military, oil and gas, mining and farming industries.In Japan, the government is looking to fast track industry-friendly regulation to give its drone business an edge.But the real work, say those in the industry, is in building out the drone ecosystem: the payload, software, operator and end user, and making sense of the data. That can only come by connecting to potential customers.”As long as you don’t have the end user because they can’t use it, you’re basically missing a lot of the ecosystem,” says Thevoz.In Singapore, Garuda Robotics is already moving beyond just being a drone operator. “The drones are a means to get the data out of the sky,” says co-founder and CEO Mark Yong, “but if you can’t process it you’ve not created any value for the customer.”While the company has been helping map the boundaries of palm oil plantations in Malaysia, it has added the ability to calibrate the drones’ cameras to measure moisture levels in individual trees. It’s now working with agronomists to figure out how to make sense of that thermal data to judge the health of trees and their likely yield.Other projects include assembling real-time 3D maps of building sites to help construction schedules, monitoring and reducing algae blooms and keeping tabs on packs of stray dogs using infrared cameras.All of this would be hard, if not impossible, under FAA regulations that limit drones flying out of sight of the operator, or at night.While regulation typically lags technology, no one’s betting against Silicon Valley dominating the industry in the long run. Last year, more than $100 million flowed into U.S. drone start-ups, according to CB Insights, double 2013 levels.”Let’s not kid ourselves,” said Philip Von Meyenburg, who runs a drone operating company out of Singapore. “They know what they’re doing in the U.S.”And China, too, is in the game as hardware prices fall rapidly. China’s DJI sells consumer grade drones for $500, making it hard for companies producing lower volumes to justify their higher prices.”The challenge for all drone manufacturers now is that we’re in a market that is constantly updating,” said Flyability’s Thevoz.(Editing by Ian Geoghegan) Growing a business sometimes requires thinking outside the box.last_img read more