Lustrum FY15-19 Saw Sharp Increase in Fresh Investment: Projects Today Survey

The 74th Survey of projects investment in India conducted by Projects Today indicates that during the five-year period FY15-19, 47,911 new projects were announced with a total investment of Rs 60,51,281 crore as against 43,876 new projects worth Rs 29,28,125 crore announced in the preceding five-year period FY10-14, a rise of 106.7 percent.

The buoyancy in announcement of fresh investment was observed across all major sectors except the Electricity sector, which recorded absolute decline both in number of new projects and investment committed therein. While fresh investment increased by more than 100 percent in the Manufacturing, Mining, Infrastructure and Irrigation sectors, the Manufacturing and Irrigation sectors saw less number of new projects announced during the latest five-year period ending 31 March 2019.

Though the Manufacturing sector attracted 1,325 less projects during the FY15-19 period, thanks to increase in the number of mega projects (with cost of Rs 1,000 crore or more), total fresh investment expanded by 130.5 percent from Rs 7,00,725 crore to Rs 16,15,456 crore. As a result, the share of Manufacturing in total fresh investment increased from 23.9 percent in FY10-14 to 26.7 percent in FY15-19. Among the sub-sectors, Fertilisers, Steel, Cement, Refinery and Electronics segments received increased fresh investment commitments during the FY15-19 period.

The FY15-19 period saw announcement of 253 mega projects. Of these, 218 were owned by private promoters. The preceding five-year period had seen announcement of 131 mega projects.

Reflecting the emphasis of the current government on infrastructure building, fresh investment intensions multiplied three times from Rs 11,46,208 crore in FY10-14 to Rs 34,09,300 crore in FY15-19. The sector comprising transport and social infrastructure saw announcement of 39,509 new projects in FY15-19 as against 33,145 projects announced during the FY10-14 period.

The extra emphasis laid by the Central government on expanding highways led to trebling of fresh investment in the Roadways from Rs 3,64,809 crore in FY10-14 to Rs 11,24,996 crore in FY15-19.

The Construction sector comprising Commercial Complexes, Industrial Parks and Real Estate saw a fall in number of new projects during the five-year period FY15-19. Though fresh investment commitments increased from Rs 2,18,439 crore in FY10-14 to Rs 6,42,657 crore in FY15-19, the twin-balance sheet phenomenon affected this sector the most. Further, demonetisation, GST and the RERA Act disrupted the basic functioning of the industry.

The Power sector, during the FY15-19 period, witnessed more stalling of the existing projects than announcement of new projects. Most of the large-size thermal power projects announced during the FY10-14 period could not make much progress due to non-availability of land, lack of finance and delays in signing of PPA agreements.

As against 639 thermal projects worth Rs 7,90,227 crore announced during FY10-14 only 98 new thermal projects worth Rs 2,19,568 crore were announced during FY15-19. On the other hand, new investment in renewable power projects (mainly Solar and Wind) expanded by 294.5 percent from Rs 92,760 crore during FY10-14 to Rs 3,65,953 crore during FY15-19.

Cumulative fresh investment in the Irrigation sector increased sharply from Rs 57,934 crore in FY10-14 to Rs 1,98,869 crore during FY15-19. Madhya Pradesh, Rajasthan and Telangana were the large investors in this sector.

The Supreme Court's decision to cancel 214 coal blocks allocated to developers, not only stalled fresh investments flowing into this sector, but also affected the functioning of power plants with an aggregate capacity of 28,000 MW. Though the Central government re-allocated or auctioned 86 coal mines, actual production has begun in only 23 mines as of December 2018.

The FY15-19 period saw announcement of 763 new projects worth Rs 1,88,272 crore as against 627 projects worth Rs 89,711 crore announced during FY10-14. The Private sector is involved in around 60 oil exploration projects and 25 coal mining projects.

Private Sector Investment: Showing signs of revival

Private investment after picking up in FY15 and FY16 slumped in FY17 and FY18 only to recover in FY19. However, all along the five years (FY15-19) private fresh investment remained higher than the lower figures seen in FY12, FY13 and FY14.

Policy paralysis and financial mismanagement saw large scale stalling of projects in the last three years of the FY10-14 period. Further, heavy borrowings and mismanagement of funds forced owners of such projects to default on their debts mostly borrowed from Indian banks. The resultant “twin-balance sheet” issue weighed heavily on financing the ongoing projects, which in turn forced even the genuine promoters to go slow on new projects announcement.

During FY15-19, total fresh investment by the Private sector increased by 55 percent (thanks to mega projects), however, the number of new projects fell sharply when compared to FY10-14 statistics. This indicates the uneasiness of small- and medium-size private companies that are still awaiting revival in domestic demand to chalk out their expansion plans.

Stalling of Projects continued in FY15-19

The Survey indicates that during the FY15-19 period 3,642 projects worth Rs 16,59,353 crore were put on the back-burner as against 3,791 projects Rs 10,94,945 crore in the FY10-14 period indicating an increase of 51.6 percent in toxic projects during the latest five-year period, FY15-19. Around 82 percent of the total projects investment vanished during FY15-19 was in the Manufacturing and Electricity sectors.

On the positive note, the total quantum of stalled projects after hitting the recent high of Rs 1,95,795 crore in the first quarter of FY18 dropped sharply to Rs 12,477 crore in the last quarter of FY19. This is the lowest quarter figure recorded in the last eighteen quarters. 

Prashant Jain Moves from Siemens to Head GE Steam Power Across South Asian Region

General Electric (GE) on Friday announced appointment of Prashant Jain to lead the global conglomerate’s steam power business in South Asia. Prashant will officially assume the role of Regional General Manager GE Steam Power South Asia and Managing Director GE Power India on April 17, 2019, a company statement said.

He joins GE from Siemens where he was most recently the Chief Executive Officer (CEO) of Power Generation Services. He succeeds Andrew H DeLeone, who was previously the Managing Director of GE Power India.

Prashant was with Siemens for 17 years, and prior to that he was with Schneider Electric. He has been instrumental in increasing responsibility across energy and industrial sectors, including power generation and renewable energy.

Café Coffee Day has Launched its Exclusive - Coffee Day Square in Hyderabad

The Square complements the city’s rich Nawabi legacy by offering a royal and redefined coffee brewing and culinary experience with international styled presentations, global cooking practices and alternate brewing techniques.

Located in the prime neighbourhood of Jubilee Hills on Road number 10, it also has ‘The Huddle Room’, which is an 8-seater full-fledged meeting room. Spread across 2,750 sq ft, the new Coffee Day Square can host 76 guests at a time.

Venu Madhav, CEO, Café Coffee Day said, “The Coffee Day Square is a reflection of the new and best in coffees and culinary experience. Residents of Hyderabad can take delight in the innovative beverages and appetising food items it has to offer.”

Vertiv Announces Dynamic Online Mode and New, Smaller Modules of High Power Density UPS Family

Vertiv announced a new feature for the Liebert EXL S1 line of uninterruptible power supply (UPS) systems, adding Dynamic Online mode, which allows operating efficiency of up to 99 percent. In addition, Vertiv introduced 500 and 600 kVA 400V module ratings for the Liebert EXL S1. The UPS family is available now in India in seven capacity ratings from 300 kVA to 1200 kVA, 400V. The UPS is also available in Asia Pacific, Europe and North America in a variety of input and output voltages. Dynamic Online mode is available for Liebert EXL S1 globally.

Vertiv introduced Dynamic Online mode to the Liebert EXL S1 to meet the needs of cloud, colocation and enterprise data centers that cannot sacrifice any level of availability for incremental gains in efficiency. With efficiency up to 99 percent, the Liebert EXL S1 operating in Dynamic Online mode offers substantial energy savings over legacy UPS systems which average 94 percent efficiency, and even improves on modern UPS systems that approach 97 percent efficiency. Over five years, a 1000 kVA Liebert EXL S1 can save more than $230,000 over a same-capacity 94 percent efficient UPS system and more than $140,000 over a same-capacity 97 percent efficient UPS system.

“In the fast-evolving Indian digital landscape, optimization, availability, and energy efficiency are critical elements of IT environments that support 24X7 businesses,” said Vikas Srivastava – director of product management for power, Vertiv in India. “The addition of high efficiency mode and extension of our Liebert EXL S1 UPS line allows our customers access to the best industry UPS systems, and highest levels of availability to their IT infrastructure.”

While in Dynamic Online mode, the Liebert EXL S1 inverter can instantaneously assume the load and maintain the output voltage well within the IEC 62040-3 Class 1 specification. That means systems equipped with Dynamic Online mode can safely transition from high-efficiency (Voltage Independent) mode to inverter mode with a near-zero-millisecond transfer, thus providing absolute load power protection under virtually any input power outage condition.

The new models of Liebert EXL S1 are up to 40 percent smaller than competitive systems and designed to meet the reliability and flexibility demands of the modern data center. Redundant DC variable speed fans enable the UPS to support 100 percent load even with multiple fan failures. Various input/output options add flexibility and reduce capital and installation costs. As with previously released Liebert EXL S1 modules, customers can parallel up to eight units and leverage Intelligent Parallel mode to automatically optimize efficiency at reduced load levels.

The system’s touchscreen interface offers a status-at-a-glance LED light bar, customizable views and multiple security options, while intelligent controls ensure seamless integration with multiple Vertiv and third-party building management and data center infrastructure management systems. All sizes of the Liebert EXL S1 UPS are available with lithium-ion batteries, flywheels, Albér battery monitoring, and LIFE Services.

Blockchain Based Supply Chain Mgt By Student of Nitte MIT, Bengaluru Emerge Winners at Unisys Cloud 20/20 2019 Contest

Unisys Corporation has announced the winners of the 10th annual Unisys Cloud 20/20 contest, one of India's largest and most popular annual student innovation programs. This year's contest featured more than 270 colleges and over 300 projects, as students were challenged to think outside the box and develop innovative ideas.       

The project titled Vesa – Blockchain Based Supply Chain Management by Sarang Parikh, Amith K K, Swathi R and Deeptha M of the Nitte Meenakshi Institute of Technology, Bengaluru, was picked as the winner. Eniyanilavan R, Hemachandiran S, Eathindhar M and Gautham A of Sri Manakula Vinayagar Engineering College, Puducherry College, earned second place for their project titled su PILVI. Third place was awarded to Amogh A Rao, Sana Parveen Salar, Suchithra Devadiga and Sharadhi Arun Patil of Mangalore Institute of Technology and Engineering, Mangalore, for their project, Smart Telematics System.   

The contest aims to bridge the gap between academia and the IT industry and encourage the participants to create innovative projects with practical application. Disruptive technology trends featured in this year's competition included cloud-based applications and microservices, cloud computing infrastructure, security and multimodal biometrics. After entries opened in July 2018, Unisys shortlisted the top 113 teams and provided them each with a mentor for guidance in project development.         

Winning teams were awarded cash prizes up to 4.25 lakhs and a trophy. In addition, Unisys has offered more than 20 internships and eight job placements to the finalists and winners of this year's competition. 

"Technical contests help build creativity and thinking capacity in students, and I am extremely happy with the impact that Cloud 20/20 has gained over the last 10 years. We are proud that Unisys has played a key role in creating and supporting talent from across the country," said Vishal Gupta, senior vice president and chief technology officer, Unisys. "Cloud 20/20 serves as a platform to equip students with the requisite skills to drive innovation in an ever-competitive industry like the IT industry." 

Sumed Marwaha, managing director, Unisys India and regional vice president, Services, Unisys added, "Unisys has been a torchbearer in technical and innovation led contests. In the last 10 years, Cloud 20/20 has been a platform for thousands of students across India to unveil their talents in some extraordinary projects and innovative ideas around disruptive technologies. This year our focus is on molding ideas to real life solutions. This recognizes that the Indian IT industry is constantly changing and requires these bright minds to create the technology of the future."   

Launched in 2009, Cloud 20/20 has traditionally been a collaboration between Unisys and academia. Over the last decade more than 25,000 teams have participated, making it one of India's most popular technical contests for engineering students. 

Under the Cloud 20/20 umbrella, Unisys has also conducted various programs created for different strata of the IT industry including annual hackathons for freshers, developers and programmers, Tech Series and Tech Connect for experienced professionals across the industry to meet and share ideas and construct a framework for future technologies. These programs also incorporate various trending themes such as virtual simulation, biometrics, artificial intelligence and machine learning.  

Collaborative BIM Workflows Help Lower Cost of the Zhengzhou-Xixia Expressway Project

The CNY 10.5 billion Yaoshan-Luanchuan section of the Zhengzhou-Xixia Expressway is 78.8-kilometers long and is a bi-directional and four-lane expressway, which includes 88 bridges, four interchanges, two interoperability hubs, and two super-long tunnels. The bridge and tunnel ratio is 59.8 percent of the project. The project is critical for developing an efficient transportation network to support the region’s economic development strategy and promote social economic development.

Henan Provincial Communications Planning Survey & Design Institute Co. Ltd. is a one-stop engineering technical service and provides construction, surveying, design, and technical consultancy on highway engineering on projects in China, Southeast Asia, and Africa. The company employs BIM methodologies to improve design quality and efficiency, cultivate BIM expertise, innovate employing BIM data in the highway industry, and reduce the time and capital cost in the design, construction, and operation lifecycle.

The expressway project team faced a variety of challenges to ensure the accurate design of the model and used Bentley’s civil applications to include subgrade roads, bridges, tunnels, and culverts within one model and ensure collaboration across all disciplines in highway design. OpenRoads was used to build a 3D model defining the cross sections of roads and importing data related to horizontal and vertical sections. The project team also used the model for bidding. OpenBridge Modeler was used to build parametric models for bridges with higher efficiency than past work processes. ProStructures was used for models for steel bars in bridges and to detect collisions and errors in design, decreasing the number of errors in construction drawings by 1,350. OpenRoads and MicroStation were used to streamline section drawings of tunnels, set up stations for different tunnel sections, and automatically generate tunnel models. The team developed plug-ins for automatic coding of components, increasing coding efficiency by 90 percent compared to traditional methods. LumenRT was used to produce 3D animation and videos for visualization deliverables. The model was also used to integrate PDF documents and design drawings; and iModels were imported into Navigator to communicate information to construction sites.

The team also addressed how to combine a GIS-based, BIM project management platform with construction management and meet the owner’s requirements for BIM model accuracy, model separation, and member information coding. Using these innovative applications, the project team reduced design errors and changes, provided design feedback, and improved quality optimization of the drawings by 97 percent. In addition, BIM methodologies helped to improve efficiencies in the lifecycle of the project and provide reference for future projects. Reducing the usual design and construction errors resulted in lower construction costs and increased economic efficiency.

Guiting Zhang, director of research and development center for engineering BIM-applied technology, said, “Bentley’s infrastructure products helped us take important steps toward realizing BIM practices for this highway project. In terms of roads, bridges, and tunnels, we improved the drawing quality, reduced construction drawing errors by over 1,350 items and human costs by CNY 200,000, raised modeling efficiency by 50 percent, and created substantial benefits for the owner organization through multiple deliverables. The BIM project management platform combines codes with components, carries multistage data, and controls and manages project construction quality. At the same time, this platform offers a complete database for the later-period operation and management and will bring positive economic benefits to this region.”

62% of Respondents Organizations have Suffered Multiple Attacks: Report by Ponemon Institute

Tenable the Cyber Exposure company, has released the 'Cybersecurity in Operational Technology: 7 Insights You Need to Know' report, an independent study by the Ponemon Institute. The study identifies the true extent of cyberattacks experienced by critical infrastructure operators - professionals in industries using industrial control systems (ICS) and operational technology (OT). It found that 90% of respondents stated their environments had been damaged by at least one cyberattack over the past two years, with 62% experiencing two or more attacks.

Key highlights from the study include:
Insufficient visibility into the attack surface: 80% of respondents cited lack of visibility into the attack surface, knowing what systems are part of their IT environments,  as the number one issue in their inability to prevent business-impacting cyberattacks.
Inadequate Staffing and Manual Processes Limit Vulnerability Management: Lack of personnel and a reliance on manual processes were cited by 61% and 55% of respondents respectively as major obstacles in their ability to assess and remediate vulnerabilities.
C-Suite Buy-In Is Key: 70% of respondents view increasing communication with executives and board members as one of their governance priorities for 2019.
The convergence of IT and OT is a reality in today's digital era. But this convergence has connected once-isolated OT systems to a variety of attack paths. This Ponemon study, based entirely on the self-reported experiences and observations of ICS and OT experts themselves, confirms that the threats to critical infrastructure are real, severe and ongoing.

"OT professionals have spoken - the people who manage critical systems such as manufacturing plants and transportation almost unanimously state that they are fighting-off cyberattacks on a regular basis," said Eitan Goldstein, Senior Director of Strategic Initiatives, Tenable. "Organizations need visibility into their converged IT/OT environments to not only identify where vulnerabilities exist but also prioritize which to remediate first. The converged IT/OT cyber problem is one that cybersecurity and Critical Infrastructure teams must face together."