Fincantieri cuts steel for second Italian Navy PPA

first_img Fincantieri cuts steel for second Italian Navy multipurpose offshore patrol ship Italian shipbuilder Fincantieri has started construction of the second Italian Navy multipurpose offshore patrol ship (PPA).The steel-cutting ceremony took place on October 3 at the shipbuilder’s Riva Trigoso, Genova, shipyard.The unit will be delivered in 2022 and is part of the Italian Navy vessel renewal plan which started in May 2015.The project as a whole involves the construction of nine units, including seven PPAs, one multipurpose amphibious unit (LHD or Landing Helicopter Dock), and one logistic support unit (LSS or Logistic Support Ship).The 132.5-meter multipurpose offshore patrol vessels will serve multiple functions, ranging from patrol with sea rescue capacity to civil protection operations and, in their most highly equipped version, first line fighting vessel.PPAs will have different configurations of the combat system: starting from a “soft” version for the patrol task, integrated for self-defence ability, to a “full” one, equipped for a complete defence ability.The vessels will be crewed by 171 servicemen and, propelled by a combined diesel, a gas turbine plant (CODAG) and an electric propulsion system, they will be capable of reaching speeds of over 33 knots. RHIBS up to 11 meter in length will be deployed through lateral cranes or a hauling ramp located at the far stern.The PPAs will be built at the Integrated Shipyard of Riva Trigoso and Muggiano, with delivery expected, for the first vessel of the class, in 2021. Subsequent deliveries are scheduled to take place in 2022, 2023, 2024 (two units), 2025 and 2026. Share this article View post tag: PPA Back to overview,Home naval-today Fincantieri cuts steel for second Italian Navy multipurpose offshore patrol ship October 4, 2017 View post tag: Italian Navy Authorities View post tag: Fincantierilast_img read more

Govts steps for housing exports to support economy Ficci

first_imgNew Delhi: The latest measures announced by the Finance Minister in the field of real estate and exports would help provide stimulus to the slowing economy, industry FICCI President Sandip Somany said on Sunday. The industry body welcomed the government’s move a day after Finance Minister Nirmala Sitharaman announced steps to help the nearly stalled real estate sector and increase India’s exports. Sitharaman on Saturday announced a fresh set of measures worth around Rs 60,000 crore to boost exports and the housing sector. Also Read – Thermal coal import may surpass 200 MT this fiscal”These new measures will provide much-needed stimulus to boost the Indian economy that is now facing the slowdown,” Somany said. In a statement, Somany also said that the relaxation of external commercial borrowing (ECB) guidelines for affordable housing and reduction in interest on ‘Housing Building Allowance’ in line with the 10-year Government-Securities yield is a major step towards achieving the target of the ‘Pradhan Mantri Awas Yojana’ (PMAY). Also Read – Food grain output seen at 140.57 mt in current fiscal on monsoon boost”Provision of Rs 10,000 crore to provide last-mile funding for completion of the ongoing housing projects (which are not NPAs or facing bankruptcy proceedings under NCLT) is certainly a major push to resolve the problem of stalled projects in the country,” he said. Sitharaman on Saturday announced that there would be a special window for affordable and middle-income housing to provide last-mile funding for housing projects which are not under the insolvency process in the National Company Law Tribunal (NCLT), and not declared non-performing assets (NPAs or bad loans) to complete unfinished projects. For this, a fund of Rs 10,000 crore would be contributed by the government and “roughly the same size by outside investors”, the minister announced. The key measures for exports include extending the scheme of reimbursement of taxes and duties for export promotion, fully automated electronic refund for input tax credits (ITC) in GST, revised priority sector lending norms for exports and expanding the scope of Export Credit Insurance Scheme (ECIS). Somany also expressed confidence that the initiatives of export-related incentives, finance, credit and facilitation will help in achieving a turnaround in India’s exports which have declined by 6 per cent in August. “The new scheme for Remission of Duties or Taxes on Export Product (RoDTEP) that will be effective from January 1, 2020, will go a long way in addressing the problem of non-compliance of our export promotion scheme,” the FICCI President said. “Fully automated electronic refund module for Input Tax Credits (ITC) in GST will speed up the ITC refund and ease the problem of working capital for exporters. Expanding the scope of Export Credit Insurance Scheme, moderation in premium incidence for MSME, and revised Priority Sector Lending (PSL) norms for export credit are also encouraging features of the new package,” he said. Additional funding of Rs 36,000 crore to Rs 68,000 crore as export credit under the priority sector is also encouraging in the backdrop of recent decline in export credits, he added. Somany also praised the idea of annual mega shopping festivals for promoting exports of gems and jewellery, handicrafts, textiles, leather, yoga and tourism. “In view of the critical importance of technical standards, the plan for expanding and developing affordable testing and certification facilities under PPP (Public Private Partnership) mode will equip our engineering goods exporters to align with the globally accepted tests and certification processes,” he added. He also welcomed the measures related to Free Trade Agreements (FTAs), in particular setting up of ‘FTA Ultilisation Mission’ as well as setting the goals for FTA ultilisation by Indian business. “This is extremely crucial because so far Indian exporters have not utilised the existing FTAs in a major way,” he said.last_img read more