Info on all rly bridges to be put out on Rail Drishti

first_imgMumbai: To ensure “transparency” in system, information regarding all rail bridges in the country would soon be made available for common people through newly-launched “Rail Drishti” portal, Railways Minister Piyush Goyal said here Saturday.He was in city to kickstart the makeover project for Byculla railway station, which is one of the oldest and busiest suburban stations on the Central Railway. “Very soon, our ‘Rail Drishti’ portal would have information on the entire 1-1.25 lakh rail bridges across the country. It would entail all the vital details of a bridge such as its year of manufacture, the year of its auditing and about auditors. Also Read – MP woman hangs herself after killing three children”Possibly the phone numbers of auditors and concerned officials….(might be posted on the portal). All such information related to bridges would be made available in the public domain. Such initiative will ensure transparency and efficiency in the Railways,” he said. Addressing a gathering on the concourse of the station, Goyal said restoring heritage was not an easy task. “I am quite happy that several people have come forward to restore beauty of this majestic station building and the entire premises. Everyone who has come forward to make this station beautiful, deserves big thanks,” Goyal said. City-based NGO “I Love Mumbai”, led by BJP leader Shaina NC, had last year signed an MOU with the Central Railway (CR) for restoration of heritage and beautification of Byculla station. The NGO has embarked on restoration work in association with conservation architect Abha Lambah. Byculla was one of the original stations when the Bombay-Thane railway was inaugurated in April 1853.last_img read more

Brookfield and the Caisse buy automotive battery business from Johnson Controls for

MONTREAL — Brookfield Business Partners LP and the Caisse de depot et placement du Quebec, together with a group of institutional partners, have signed a deal to buy Johnson Controls’ power solutions business for US$13.2 billion in one of the biggest leveraged buyouts this year.The business produces batteries for automakers and aftermarket distributors and retailers.The companies say it is well positioned to benefit from the growth in demand for advanced batteries, including those used in electric vehicles.Brookfield nearing deal for Johnson Controls auto-battery business: sourcesBrookfield in talks to sell IDI Logistics to Caisse de dépôt’s real estate arm, sources say“We are excited to grow our business with the acquisition of power solutions, a global market leader which generates consistent cash flows and profitability,” said Cyrus Madon, chief executive of Brookfield Business Partners.“We look forward to partnering with the management team to continue growing this world-class business and build on its track record of innovation.”George Oliver, Johnson Controls chairman and chief executive, said the deal was a significant milestone in the ongoing transformation of the company.“The sale of our Power Solutions business will create value for investors by streamlining our portfolio and giving us increased financial flexibility to strengthen our balance sheet, return capital to shareholders and create optionality in our buildings business,” Oliver said in a statement.It’s the largest acquisition to date for Brookfield Business Partners since the division went public in 2016. Earlier this year, the firm also agreed to pay US$4.6 billion for Westinghouse Electric Co.The transaction will be funded with approximately US$3 billion of equity and about US$10.2 billion of long-term debt financing.Brookfield Business Partners expects to fund approximately 30 per cent of the equity, while CDPQ will fund about 30 per cent with the balance being funded by other institutional partners.Brookfield Business Partners is the main business services and industrials company of Brookfield Asset Management Inc.Johnson Controls expects net cash proceeds from the deal to be US$11.4 billion after tax and transaction-related expenses.It expects to use $3 billion to $3.5 billion to repay debt.The deal is expected to close by June 30, 2019.With files from Bloomberg read more