Sical Logistics Ltd a Coffee Day Group company that runs port terminals and container
freight stations is likely to see bidding by JSW Group and Adani Group, sources close
to the development reported media. The Dubai government-owned DP World, a
container major, too, has shown interest, the sources said.
Sical also has a category 1 license from the Indian Railways that permits it to run
container trains across India. Apart from port terminals and container train operations,
Sical has interests in mining, road transport, inland container depot, warehousing and
shipping. It also provides offshore support services to the oil and gas industry and owns
and operates a cutter suction dredger.
In an indication of continued concerns for the NBFC sector, India Ratings on Monday
revised its outlook for the non-banking finance companies to negative from stable and
also maintained its negative outlook on large ticket housing finance companies (HFCs).
The agency also cut its growth forecast for NBFCs for 2019-20 to 10% to 12% from the
earlier estimate of 15% due to funding challenges and slowdown in economic activity,
which is evident from the fall in auto sales, slowdown in rural infra activity and small
and medium enterprises (SME) challenges. It also said that measure announced by the
government to improve liquidity for the sector are likely to play out over the medium-to-
The NBFC and HFC sector has been in the midst of a financial crisis for a year now
and the Reserve Bank of India and the Finance Ministry have announced a slew of
measures to improve funding to them. NBFCs focussed on retail asset financing with
long track records have been able to mobilise funding owing to the granular nature of
their loan books and the control they have exhibited in maintaining asset quality, India
It however, cautioned that wholesale and semi-wholesale NBFCs in real estate,
corporate lending and large ticket housing segment have seen challenges in mobilising
liabilities, largely because of the asset-side perception risk arising from the slowdown in
real estate and moderation in refinancing opportunities.
Terming the revision of power purchase agreements (PPAs) for wind and solar plants in
Andhra Pradesh as “unfortunate”, Union Power Minister Mr RK Singh on Monday said
foreign investments have been coming in the country’s renewable energy sector on the faith of sanctity of contracts.
The Andhra Pradesh government had formed a committee to revise “abnormally priced
wind and solar” PPAs, these might have been inked with “malafide intentions and could
have resulted in unjustified burden on consumers of the state.”
While addressing the media in Hyderabad about the achievements of the government
in the first 100 days, Mr Singh said that If there is any concrete and specific evidence of
illegality, go ahead and take action as per law but contracts cannot be re-opened
across the board.
Chief Minister Mr Pramod Sawant said after meeting with Union Mines Minister Mr
Pralhad Johi on Monday, the Centre’s Group of Ministers (GoM) will submit its detailed
report on resumption of mining in Goa to Prime Minister Narendra Modi on September
11. On in inputs, positive solutions will be worked out by November.
Mining came to a standstill in Goa in March last year after the Supreme Court quashed
88 leases and banned extraction of fresh iron ore. The prime minister has insisted an
early decision should be taken on the issue of mining in Goa. We will be submitting a
report to him suggesting solutions, Joshi said.
Coal is likely to remain in short supply until 2024, national miner Coal India has
informed the ministry of coal in a recent note. Considering the current fuel supply
agreements (FSAs) and several MoUs for coal supply, Coal India said the current year
will witness a deficit of 168.45 million tonne; the next year’s shortfall will be 71.25
According to the note, Coal India also said the deficit may widen to 262.4 million tonne
in the current financial year, if the Centre brings in more schemes. And if such a
scenario prevails, the deficit will be 111.27 million tonne for the next financial year, the
deficit will continue until 2026 in such a case. In current financial year, Coal India has
set a production and sales target of 660 million tonne and plans to scale up to 710
million tonne in the next financial year. During 2024-25, the company aspires to
achieve a production of 940 million tonne of coal.
Besides the FSA and the e-auction routes, Coal India has started supplying for the new
scheme of the Centre SHAKTI. Including SHAKTI, Coal India is currently supplying coal
through more than 12 supply channels. This includes linkage auctions, FSAs with
public sector companies, e-biddings, linkages with states, and short-term PPAs.
Against the 100% FDI in coal mining, federation had announced a one-day strike on
September 24 will also affect Coal India.