Adani to buy 75% stake in Krishnapatnam Port
India’s largest private sector port operator agreed to buy a 75% stake in Krishnapatnam Port Co. Ltd (KPCL) at an enterprise value of ₹13,500 crores, APSEZ.
The Krishnapatnam Port is located in southern Andhra Pradesh and is a multi-cargo facility. It handled 54 million tonnes (mt) of cargo in the year ended 31 March 2019. The purchase will accelerate the Adani Ports plan to expand its cargo-handling capacity to 400mt by 2025. The acquisition will be funded internal accruals and existing cash balances.The credit metrics of APSEZ consolidated to change with this transaction. The net debt-to-Ebidta of consolidated APSEZ, including KPCL, in FY21, is expected to be around 3.2x.
The acquisition is subject to regulatory approvals and the transaction to be completed within 120 days. The infrastructure and the distinct hinterland catered by KPCL, this acquisition will not just increase our market share to 27% add a remarkable value to our pan-India footprint. The APSEZ will look to expand cargo volume at KPCL to 100mt in around seven years and will double its Ebidta in about four years. This is the second acquisition by Adani Ports in the past seven days. On 27 December. The wholly-owned unit of Adani Ports will buy a 40.25% stake in Snowman from Gateway Distriparks Ltd.
Russia ‘only country in world’ with hypersonic weapons
Russia is the only country in the world that has hypersonic weapons- weapons that travel faster than Mach5 (~6174kmph) and have the capability to manoeuvre during the entire flight.
The first unit equipped with the Avangard hypersonic glide vehicle is set to go on duty by Dec 2019, while the air-launched Kinzhal hypersonic missiles already have entered service.
Putin has said that the missile flies 10 times faster than the speed of sound, has a range of more than 2,000 kilometers (1,250 miles) and can carry a nuclear or a conventional warhead.
Gk bit: Mach Number
Mach Number is the ratio of the speed of the body to the speed of sound in the undisturbed medium through which the body is traveling.
- Subsonic (M < 1)
- Transonic (M = 1)
- Supersonic (1 < M < 3)
- High Supersonic (3 < M < 5)
- Hypersonic (M > 5)
- High Hypersonic (M ~ 25)
India ranks 47th globally in home price appreciation: Knight Frank
The Knight Frank Global House Price Index Q3 2019 released on ranked India at 47th spot among 56 countries tracked in terms of appreciation in residential real estate prices with a marginal 0.6 per cent year-on-year rise in home prices.
India stood at 11th position in the previous edition of the report with a 7.7 per cent year-on-year rise in home prices.
Slow sales, high inventory and lack of liquidity with developers have restricted rise in home prices.
The Global House Price Index tracks the movement in mainstream residential prices across 56 countries and territories worldwide using official statistics.
Hungary leads the index this quarter with 15.4 per cent annual price growth, followed by Luxembourg at 11.4 per cent and Croatia at 10.4 per cent.
India set to cross 100GW renewable energy capacity mark in 2020
India set to cross the 100-GW renewable energy capacity mark in 2020 and will gain 175 GW clean energy target by 2022 provided the government.
The government needs to promote storage to ensure a 24×7 clean energy supply as coal-fired thermal power still remains the base load in the country. The issues hampering the growth of renewables in India are lack of interest or the financial institution to fund renewable energy projects, safeguard duty on imported solar panels, ambiguity over goods and services tax (GST) on solar equipment and low investor sentiment due to delayed or non-payment by discoms to clean energy developers.
India installed renewable energy generation capacity touched around 86 GW by November-end. This includes solar, wind, small hydro, biomass, waste to energy and others. Around 30 GW renewable capacity, including 18 GW solar and 10 GW wind energy, is under implementation. Around 40 GW including 36 GW solar and 3.4 Gw wind energy being tendered. Together with other schemes being implemented by the government.
MEA includes Madagascar, Comoros in Indian Ocean Division
Ministry of External Affairs has included Madagascar and Comoros in the Indian Ocean Region Division, which looks after India’s maritime neighbours such as Sri Lanka, Maldives, Mauritius and the Seychelles.
Earlier these two island nations were looked after by East and South Africa Division of the MEA.
The recent step reflects the growing strategic importance of the Indian Ocean islands within the framework of Indo-Pacific.
Seychelles, Mauritius, Madagascar, Comoros along with Reunion (French territory) are known as Vanilla Islands and are members of the Indian Ocean Commission.APPSC GROUP 1 Notes brings Prelims and Mains programs for APPSC GROUP 1 Prelims and APPSC GROUP 1 Mains Exam preparation. Various Programs initiated by APPSC GROUP 1 Notes are as follows:-
- APPSC GROUP 1 Mains Tests and Notes Program
- APPSC GROUP 1 Prelims Exam - Test Series and Notes Program
- APPSC GROUP 1 Prelims and Mains Tests Series and Notes Program
- APPSC GROUP 1 Detailed Complete Prelims Notes