IL&FS Transportation Networks Ltd. has inaugurated the Sharjah General Services Company (Khadamat), in partnership with Sheikh Sultan bin Ahmed Al Qassimi, Chairman of Sharjah Media Centre. Khadamat is aimed at comprehensive and integrated development of the region through enhancing infrastructure for both the public and private sectors Khadamat was incorporated for managing and operating facilities; creating an international infrastructure for surface transportation, logistics, industries and services sectors; and managing such as infrastructure in accordance with international standards, including the establishment of an internal and external road network and the launch of strategic real estate development and redevelopment projects The Chairman of Khadamat said the company's projects, which would be implemented using the world's most advanced methods and technologies, would contribute to the stimulation of economic growth and realization of Sharjah's vision in terms of enhancing the relationship with reputable investment companies, improving economic efficiency and attracting investments
In India, millions of young people are unable to find a job while employers struggle to find qualified candidates. According to government estimates, 500 million young people must be trained by 2022. To help achieve this, the government's National Skills Development Corporation, set up in 2009, funds training centres and acts as a go-between with industry. It is effectively training youth on a war footing. Its target is to give vocational skills to 500 million Indians by 2022. Private companies are pitching in, too. IL&FS skills training centre has trained around 225,000 since 2007. By 2017, it plans to have trained 4 million young people. IL&FS Skills is one of the largest providers of skills and placement support to candidates from 25 states in India. Our initiatives in skills range from public sector scheme based programs; private funded initiatives (HR, CSR initiatives) to Public Private Partnership (PPP) models. Under our public funded skills initiatives with Government of India, we are currently working very actively with Ministry of Rural Development, Ministry of Textiles, Ministry of Human Resource Development and Ministry of Housing and Poverty Alleviation.
IL&FS Transportation Networks Ltd announced on Monday that it had completed its Pune-Solapur Road Project over four months ahead of schedule. “…the Provisional Completion Certificate was issued by National Highways Authority of India on August 23, 2013 for the Pune-Solapur Road Project which was awarded to the Company. The Company has commissioned the Project 145 days ahead of Scheduled Project Completion Date,” said the exchange announcement.
Come July 1, 70 per cent of the rubbish generated in the city would be converted into manure, the sale of which would also fetch some extra revenue for the civic body. This is consequent to the decision of the Mangalore City Corporation to award a private company the contract of operating and maintaining the compost plant and sanitary landfill site at Pachchanady from next month. The company is expected to install two more machines – one of them by July end – for precomposting segregation in addition to the existing 120 tonne capacity a day processing machine already in use. According to an agreement signed with the company on May 29 not more than 30 per cent of the waste generated a day should be dumped in the landfill site. The source said that the company had its own arrangements for marketing compost.
IL&FS Transportation Networks has signed the Concession Agreements with the concerned Authorities for the projects, (i) Kiratpur Ner Chowk section of NH 21 of 90.175 kms in the States of Punjab and Himachal Pradesh, (ii) Beawar Gomti section of NH 8 of 88 kms of the total 116 kms (Capacity augmentation) in the State of Rajasthan and (iii) Sikar Bikaner section of NH 11 of 237.57 kms in the State of Rajasthan. The commencement of work of the aforesaid projects was pending receipt of clearance from the Forest Department. The Forest Advisory Committee of the Ministry of Environment & Forest, Government of India at their meeting held on June 10, 2013 have provided clearance for commencement of work for all the aforesaid Projects. Shares of IL&FS Transportation Networks Ltd was last trading in BSE at Rs.175.40, up by Rs.5.85 or 3.45%. The stock hit an intraday high of Rs.177 and low of Rs.166.20. The total traded quantity was 13973 compared to 2 week average of 7152.
IL&FS Transportation Networks Ltd has informed BSE that, MP Border Checkpost Development Company Ltd, a subsidiary of the Company, which had been mandated the development of 24 Border Check Posts by the M. P. Road Development Corporation Ltd. has been issued a Provisional Completion Certificate to commercially operate 2 Border Check Posts, namely, at (i) Agra - Mumbai and (ii) Indore - Ahmedabad effective April 26, 2013. The Project is fee based with a Concession period of 12 1/2 years.
ITNL Offshore Pte Ltd, a wholly-owned subsidiary of IL&FS Transportation Networks Limited (ITNL), successfully completed a foreign currency bond offering of 5.75% RMB 630 million (about Rs.525 crore and equivalent to US$ 100 million) due 2015. These bonds have been placed as part of a public offering marketed in the Hong Kong and Singapore markets This would also be the first Indian listing on the Hong Kong Stock Exchange