3 Dec

Rain pounds Gujarat, throws life out of gear

first_imgGujarat continues to be battered by heavy rains causing floods. On Thursday, Ahmedabad received 200 mm of rainfall, flooding major parts of the city. The Centre has rushed three more teams of the National Disaster Response Force to the State.The toll in Banaskantha has reached 46 while in Patan district, five persons were washed away in the floods. The total toll has reached 150 in the State since June 1.“More than 10,000 people were relocated from vulnerable areas as a precautionary measure as torrential rain continues in the State,” said a senior government official, adding that more than 1,000 people were rescued by various agencies.‘Grim situation’“Situation continues to be grim because of constant rainfall. After north Gujarat and Saurashtra, the rain is now spreading to central and south Gujarat, causing floods there,” the official added.Portions of at least 20 buildings collapsed due to heavy rains and water-logging. Three persons were injured when a building crumbled in the Gaekwad Haveli locality in the early hours, Ahmedabad Chief Fire Officer M. Dastoor said.“Three persons were injured when a building collapsed in the city. Parts of nearly 20 buildings collapsed since midnight, while 64 trees have been uprooted. Eleven instances of fire were reported due to short-circuits,” he said.The government authorities have ordered all schools and colleges to remain closed in the affected areas. Examinations have also been postponed.As on Thursday, more than 300 roads were closed and hundreds of villages submerged in darkness due to power outage as floods have damaged the power distribution infrastructure.Chief Minister Vijay Rupani visited the affected areas in Ahmedabad and conducted inspection of rescue works. The administration has warned people against venturing out. The Ahmadabad Municipal Corporation issued a warning of heavy rains on Friday and asked people to stay indoors.According to Deputy Chief Minister Nitin Patel, 18 teams of the NDRF, six teams of the BSF, six columns of the Army, two teams of the Navy and over a dozen helicopters of the Air Force were involved in the rescue work across the State, mainly in the two worst affected districts of Patan and Banaskantha.The Ahmedabad airport runway was partly flooded due to heavy rains, though it did not affect the air traffic, its director Manoj Gangal said. Apart from Ahmedabad, Gandhinagar and Kheda also received heavy rainfall in the last 24 hours, affecting thousands of people who had to be relocated to safer areas.(With inputs from PTI)last_img read more

23 Oct

Sembcorp Marine Bags USD 15 Bn Loan from Parent

first_imgzoomSource: Pixabay under CC0 Creative Commons license Singapore-based Sembcorp Industries will provide a five-year subordinated loan of SGD 2 billion (USD 1.47 billion) to strengthen Sembcorp Marine’s financial position.The loan, agreed amidst the current downturn in the global offshore and marine industry, would be used by Sembcorp Marine to retire around SGD 1.5 billion of borrowings, and the balance SGD 500 million for working capital and general corporate purposes.Sembcorp Industries, Sembcorp Marine’s largest shareholder, will issue SGD 1.5 billion of bonds to DBS Bank as sole lead manager and initial purchaser through a private placement. The investors of the bonds include Temasek.Assuming the SGD 2 billion is fully drawn as at March 31, 2019, Sembcorp Group’s gross debt-to-capitalisation ratio would increase from 56% to 58%.Since 2009, Sembcorp Marine has made substantial strategic investments in yard and engineering capabilities, and acquired new technologies which allow it to offer diversified solutions across the offshore, marine and energy industries.However, The company’s current financial performance and position have been affected by the prolonged and severe downturn of the global offshore and marine industry.last_img read more