Category: Business

MIL-OSI: Atos signs binding agreement to sell Worldgrid to ALTEN for an enterprise value of €270 million
Source: GlobeNewswire (MIL-OSI)

Press Release

Atos signs binding agreement to sell Worldgrid to ALTEN for an enterprise value of €270 million

Paris, France – November 5, 2024 – Following its press release dated June 11, 2024, Atos, a global leader in digital transformation, high-performance computing and information technology infrastructure, today announces that it has signed a Share & Asset Purchase Agreement with ALTEN SA (“ALTEN”) for the sale of its Worldgrid business unit for an enterprise value of €270 million.

Worldgrid provides consulting and engineering services to energy and utility companies. The business currently employs close to 1,100 employees and, in 2023, it generated revenue of circa €170 million from a diverse and longstanding client base.

ALTEN is a well-recognized IT and engineering player with expertise and product offerings in the energy and utilities industry. The contemplated transaction would ensure full continuity of service for Worldgrid’s strategic clients and employees.

Relevant social processes with employee representative bodies are completed and approvals from regulators have been received. The transaction is expected to close before the end of 2024.

***

About Atos

Atos is a global leader in digital transformation with circa 82,000 employees and annual revenue of circa €10 billion. European number one in cybersecurity, cloud and high-performance computing, the Group provides tailored end-to-end solutions for all industries in 69 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos is a SE (Societas Europaea) and listed on Euronext Paris.

The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

Contacts

Investor relations:
David Pierre-Kahn | investors@atos.net | +33 6 28 51 45 96
Sofiane El Amri | investors@atos.net | +33 6 29 34 85 67

Individual shareholders: 0805 65 00 75

Press contact: globalprteam@atos.net

Attachment
- PR – Binding agreement to sell Worldgrid to ALTEN – November 5 2024
The MIL Network –
January 26, 2025
MIL-OSI United Kingdom: UK to create world-first ‘early warning system’ for pandemics
Source: United Kingdom – Executive Government & Departments

The government is set to partner with Oxford Nanopore, which uses technology to rapidly diagnose a range of cancers, along with rare and infectious diseases
New partnership with cutting-edge life sciences company Oxford Nanopore will lead to better scientific research and could create tests and treatments for patients, saving lives

Patients suspected of having severe acute respiratory infections will be diagnosed within 6 hours, supporting the establishment of a new diagnostic system

Technology will allow potential outbreaks of bacterial or viral diseases to be monitored alongside antimicrobial resistance, shifting NHS from analogue to digital as part of 10-Year Health Plan

The UK will create the world’s first real-time surveillance system to monitor the threat of future pandemics, prevent disease, and protect the public.

Plans have been announced to form a new partnership between the government, Genomics England, UK Biobank, NHS England, and Oxford Nanopore – a UK-headquartered, world-leading life sciences company.

Oxford Nanopore uses long read sequencing technology to analyse genes and pathogens to rapidly diagnose a range of cancers, along with rare and infectious diseases. The technology can sequence long strands of DNA or RNA in one go, without breaking it up into smaller fragments.

In infectious diseases, Oxford Nanopore’s technology will help to create an early warning system for future pandemics and potential biological threats, both preventing disease and protecting the public.

It will be used in the expansion of NHS England’s Respiratory Metagenomics programme, being led by Guy’s and St Thomas’ NHS Foundation Trust (GSTT). It uses samples from patients with severe respiratory infections and rapid genetic testing to match those patients with the right treatments within 6 hours.

This novel and world-leading application, developed in partnership with the NHS, will allow potential outbreaks of bacterial or viral diseases to be monitored alongside antimicrobial resistance across the country.

Following an initial successful pilot at St Thomas’ Hospital, the technology will now be rolled out from 10 to up to 30 NHS sites to address the current time lag between new pathogens emerging in the UK and action being taken to both treat affected patients and to prevent their spread, which will benefit people everywhere.

Health and Social Care Secretary Wes Streeting said:

If we fail to prepare, we should prepare to fail. Our NHS was already on its knees when the pandemic struck, and it was hit harder than any other comparable healthcare system.

We cannot let history repeat itself. That’s why this historic partnership with Oxford Nanopore will ensure our world-leading scientists have the latest information on emerging threats at their fingertips.

As we embrace the technological revolution, our 10-Year Health Plan will shift the NHS away from analogue to digital, saving countless more lives.

Science and Technology Secretary Peter Kyle said:

During the Covid pandemic, we saw the power of the UK life sciences sector very clearly, from the Oxford-Astra Zeneca vaccine that saved so many lives, through to operating one of the world’s most effective Covid surveillance systems, which spotted several emerging variants of the disease.

This partnership will build on that expertise to monitor emerging diseases as they arise, putting our scientists and decision-makers one-step ahead and providing the information they need to make informed decisions.

Together with the ability to better diagnose cancers and rare diseases, we are leveraging UK life sciences to protect the public and ultimately save lives.

Professor Susan Hopkins, Chief Medical Advisor at UK Health Security Agency, said:

Early detection is absolutely crucial in enabling us to respond effectively to any emerging pathogen. The UK already has a wealth of expertise in genomic surveillance, and this programme will build on that expertise and enable us to bring our resources and capability to tackle developing threats at greater speed. Enhancing the capacity for the NHS to determine new and emerging pathogens causing severe acute respiratory infections will improve the detection and emergence of infections.

As part of the 100 days mission, this will enable the development of effective diagnostics for novel pathogens and enhance our pandemic preparedness.

Oxford Nanopore CEO Gordon Sanghera said:

The UK has a remarkable life science ecosystem, and we are delighted to be working more closely with the UK government and the NHS in this collaboration.

The world-renowned Genomics England and UK Biobank have led the way in scaling genomics discovery and translating these advances into patient impact.

By working alongside our partners on shared goals of improved patient outcomes – whether in cancer, genetic disease or infectious disease – and pandemic preparedness, we believe we can deploy our unique DNA sequencing technology in ways that are most impactful for the people of the UK.

Professor Ian Abbs, chief executive of Guy’s and St Thomas’ NHS Foundation Trust, said:

We’ve been working on the respiratory metagenomics programme for over 4 years and have clearly seen the benefit to our patients. It’s a momentous day now that we can ensure other hospitals, and more patients, can also benefit from faster and more accurate treatment for severe respiratory conditions thanks to new genomic technology.

As part of the expansion to the metagenomics programme, the data gathered using Oxford Nanopore’s technology will be provided to the UK Health and Security Agency, allowing quicker detection and action on emerging infectious diseases to be taken.

The collaboration between the government and Oxford Nanopore – which will also join up Genomics England and UK Biobank with NHS England – is another key vote of confidence in the UK’s life sciences sector, which will help kickstart economic growth and support the 10-Year Health Plan’s ambition to shift the health service from analogue to digital and from sickness to prevention, helping keep patients out of hospital.

Genomics England will work strategically with Oxford Nanopore to further insights from the data they hold, including on cancer and rare diseases, to enable future breakthroughs in identifying genomic mutations that may be treatable and preventing these devastating conditions. UK Biobank will also continue to work with Oxford Nanopore and the government to improve the insights from their data and translate these into impact for NHS patients.

Along with the vast benefits to patients, this work will drive economic growth, supporting the expansion of one of our most promising life sciences companies.

This partnership comes hot on the heels of the Budget, where the government announced investment of £40m over 5 years in a Proof of Concept Fund for spinouts, companies formed based on academic research generated within and owned by a university.

This will build on the excellent example set by Oxford Nanopore, one of the UK’s most successful spinout companies, having been founded at Oxford University in 2005. This fund could help to unleash a raft of innovative new spinouts like Oxford Nanopore, helping to drive job creation and economic growth.

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Published 5 November 2024
MIL OSI United Kingdom –
January 26, 2025
MIL-OSI United Kingdom: CMA provisionally finds Vodafone / Three could address competition concerns through network investment and customer protections
Source: United Kingdom – Executive Government & Departments

CMA inquiry group investigating Vodafone / Three merger publishes Remedies Working Paper.
iStock

CMA inquiry group investigating Vodafone / Three merger publishes Remedies Working Paper.

Merger could proceed if appropriate remedies are implemented.

CMA to seek feedback before making a final decision by 7 December.

The Competition and Markets Authority (CMA) has provisionally found that a multi-billion-pound commitment to upgrade the merged company’s network across the UK, including the roll-out of 5G, combined with short-term customer protections could solve competition concerns identified in September and allow the merger to go ahead.

The CMA investigation – led by an independent inquiry group – provisionally found in September that the merger could lead to higher prices for customers and harm the position of mobile virtual network operators, such as Sky Mobile, Lyca, Lebara and iD Mobile. The CMA also consulted on potential solutions to address its concerns – known as remedies.

The CMA has today set out a Remedies Working Paper to seek views on the effectiveness of a proposed remedy package.

It provisionally finds that a legally binding commitment to undertake the network integration and investment programme proposed by Vodafone and Three would significantly improve the quality of the merged company’s mobile network, boosting competition between mobile network operators in the long term and benefiting millions of people who rely on mobile services.

The CMA also found that short term protections would be needed to ensure that retail consumers and mobile virtual network operators can continue to secure good deals during the initial years of network integration and investment roll-out.

The remedies proposed today would require Vodafone and Three to:

deliver their joint network plan – which sets out the network upgrade and improvements they will make through significant levels of investment over the next 8 years across the UK. This would be a legal obligation overseen by both Ofcom – the telecoms regulator – and the CMA

commit to retain certain existing mobile tariffs and data plans for at least 3 years, protecting millions of current and future Vodafone / Three customers (including customers on their sub-brands) from short-term price rises in the early years of the network plan

commit to pre-agreed prices and contract terms to ensure that Mobile Virtual Network Operators can obtain competitive wholesale deals

Stuart McIntosh, chair of the inquiry group leading the investigation, said:

We believe this deal has the potential to be pro-competitive for the UK mobile sector if our concerns are addressed.

Our provisional view is that binding commitments combined with short-term protections for consumers and wholesale providers would address our concerns while preserving the benefits of this merger.

A legally binding network commitment would boost competition in the longer term and the additional measures would protect consumers and wholesale customers while the network upgrades are being rolled out.

Today’s announcement is provisional, with a final decision due before the 7 December statutory deadline. The inquiry group is inviting feedback on today’s announcement by 5pm on 12 November.

More information can be found on the  Vodafone / CK Hutchison JV case page and on  the detailed guidance page.

Notes to editors

The CMA’s guidance explains that the Remedies Working Paper may be published on the CMA website if the CMA deems wider consultation to be necessary. In this case, the CMA considers the publication of the Remedies Working Paper is appropriate for third parties to understand its provisional decision and provide any further views before the final decision.

The inquiry group’s decision set out in the Remedies Working Paper published today on the appropriate remedy to address the competition concerns identified in the provisional findings is provisional. Following consultation on the Remedies Working Paper, the Group will take its final decision on both the competition issues and any remedies by 7 December 2024.

Vodafone UK (which is owned by Vodafone Group Plc) and Three UK (which is owned by CK Hutchison Holdings Limited) are two major providers of mobile telecommunication services in the UK. Last year both businesses announced a joint venture agreement which would bring their 27 million customers under a new, single network operator.

The 4 mobile network operators in the UK are Vodafone UK, Three UK, BTEE and Virgin Media O2.

‘Virtual’ network operators – such as Sky Mobile, Tesco Mobile, Lebara, Lyca Mobile and iD Mobile – do not own their own networks and rely on access to a mobile network operator’s network to supply mobile services to their customers.

Part way through the Phase 2 investigation, Vodafone and Three entered into an agreement with VMO2 (Beacon 4.1) which involves, among other things, the divestment of spectrum to VMO2 (conditional on CMA approval for the merger). The CMA has considered the impact of this as part of its assessment.

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Published 5 November 2024
MIL OSI United Kingdom –
January 26, 2025
MIL-OSI Asia-Pac: SFST promotes HK in Zurich

Source: Hong Kong Information Services

Secretary for Financial Services & the Treasury Christopher Hui yesterday began a visit to Switzerland, where he is promoting Hong Kong’s status as an international centre for asset, wealth and risk management.

In Zurich, Mr Hui met Swiss Re Group’s Chief Executive Officer, Corporate Solutions Ivan Gonzalez, and Chairman of the Board of Zurich Insurance Group Michel M Liès, giving them an update on initiatives announced in the 2024 Policy Address to strengthen Hong Kong’s position as a global risk management centre.

These initiatives include reviewing the risk-based capital regime implemented in July and examining capital requirements for infrastructure investment in order to enrich insurance companies’ asset allocations for risk diversification and drive investment in infrastructure. The Hong Kong Special Administrative Region Government will also continue to invite Mainland and overseas enterprises to establish captive insurers in Hong Kong.

Mr Hui also had a lunch meeting with the Swiss-Hong Kong Business Association, a member of the Federation of Hong Kong Business Associations. He briefed the association on investment opportunities in Hong Kong’s asset and wealth management sectors, stressing that the city welcomes investors and family offices from around the world.

At another gathering, with leaders of a multinational financial service provider, Mr Hui spoke of the enhancements proposed in the Policy Address to strengthen Hong Kong’s status as an asset and wealth management hub.

The industry is to be consulted on increasing the types of transactions, by funds and family offices, that are eligible for tax concessions. It is proposed that emission derivatives and allowances, virtual assets, insurance-linked securities, loans and private credit investments, and more, be made eligible.

Mr Hui added that the Hong Kong Special Administrative Region Government’s issuance of green bonds is attracting strong interest from local and international investors, with $220 billion in government green bonds having been issued so far.

The treasury chief also met the Swiss National Bank’s Head of Bilateral Cooperation of Lena Lee Andresen to discuss issues of mutual concern such as global trends in monetary policy.

In addition, Mr Hui visited the headquarters of Gategroup, a market-leading inflight caterer with a global presence and operations in Hong Kong, and met its Chief Financial Officer Urs Schwendinger.

Highlighting that Hong Kong is an international aviation hub and that development of its Airport City is ongoing, he invited Gategroup to expand its operations in the SAR.

Mr Hui’s visit to Switzerland will continue today in Geneva.

MIL OSI Asia Pacific News –

January 26, 2025

MIL-OSI: Valeura Energy Inc.: Completion of Internal Restructuring

Source: GlobeNewswire (MIL-OSI)

SINGAPORE, Nov. 05, 2024 (GLOBE NEWSWIRE) — Valeura Energy Inc. (TSX:VLE, OTCQX:VLERF) (“Valeura” or the “Company”) is pleased to announce the completion of an internal restructuring of its Thailand subsidiary companies.

Valeura’s working interests in all its Thai III fiscal contracts, covering the Nong Yao, Manora and Wassana fields, are now held by Valeura Energy (Thailand) Ltd, a wholly owned subsidiary of Valeura, which previously had only held an interest in the Wassana asset. The Company anticipates that the new structure offers the potential to optimise various operational and financial aspects of these assets. In particular, the Company anticipates realising efficiencies through ongoing contracting and procurement, as well as the pooling of future costs and historical tax loss carry-forwards associated with these assets. As of September 30, 2024, the cumulative tax loss carry-forwards are estimated at US$397 million⁽¹⁾.

Dr. Sean Guest, President and CEO commented:

“Today marks a milestone in delivering value for our shareholders, and completes the integration work we started after our Gulf of Thailand acquisitions in 2022 and 2023. Early on, we identified the potential for greater efficiency by bringing our Thai III assets together through a re-organisation; our team recognised that together, these assets are worth more than the sum of their parts.

Pursuing this type of synergy strengthens our ability to re-invest in the business for the benefit of all stakeholders. We intend to continue investing directly into the many organic growth opportunities inherent in our Thailand portfolio, and also seeking new ways to provide further value, including through acquisition-led growth.”

Under Thailand’s income tax provisions, from today forward, petroleum income tax for the three subject assets will be assessed as a single entity. Tax obligations relating to the previous subsidiary company arrangement are required to be assessed immediately and settled within the next 30 days. Taxation arrangements for the Jasmine field, which is governed by a different vintage of fiscal terms (known as Thai I), and held in a separate subsidiary entity, will continue unchanged.

(1) Unaudited internal management estimate based on Thai baht exchange rate as of November 1, 2024, subject to review by tax advisors and auditors.

For further information, please contact:

Valeura Energy Inc. (General Corporate Enquiries)	+65 6373 6940
Sean Guest, President and CEO
Yacine Ben-Meriem, CFO
Contact@valeuraenergy.com

Valeura Energy Inc. (Investor and Media Enquiries)	+1 403 975 6752 / +44 7392 940495
Robin James Martin, Vice President, Communications and Investor Relations
IR@valeuraenergy.com

Contact details for the Company’s advisors, covering research analysts and joint brokers, including Auctus Advisors LLP, Canaccord Genuity Ltd (UK), Cormark Securities Inc., Research Capital Corporation, and Stifel Nicolaus Europe Limited, are listed on the Company’s website at www.valeuraenergy.com/investor-information/analysts/.

About Valeura

Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.

Additional information relating to Valeura is also available on SEDAR+ at www.sedarplus.ca.

Advisory and Caution Regarding Forward-Looking Information

Certain information included in this news release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “project”, “target” or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this news release includes, but is not limited to: the potential to optimise various operational and financial aspects, relating to such matters as ongoing contracting and procurement, as well as the pooling of future costs and historical tax loss carry-forwards associated with these assets and statements with respect to the growth opportunities inherent in the Company’s Thailand portfolio and the Company seeking new ways to provide further value.

Forward-looking information is based on management’s current expectations and assumptions regarding, among other things: the ability of the Company to obtain the anticipated benefits from the internal restructuring; political stability of the areas in which the Company is operating; continued safety of operations and ability to proceed in a timely manner; continued operations of and approvals forthcoming from governments and regulators in a manner consistent with past conduct; future drilling activity on the required/expected timelines; the prospectivity of the Company’s lands; the continued favourable pricing and operating netbacks across its business; future production rates and associated operating netbacks and cash flow; decline rates; future sources of funding; future economic conditions; the impact of inflation of future costs; future currency exchange rates; interest rates; the ability to meet drilling deadlines and fulfil commitments under licences and leases; future commodity prices; the impact of the Russian invasion of Ukraine; royalty rates and taxes; future capital and other expenditures; the success obtained in drilling new wells and working over existing wellbores; the performance of wells and facilities; the availability of the required capital to funds its exploration, development and other operations, and the ability of the Company to meet its commitments and financial obligations; the ability of the Company to secure adequate processing, transportation, fractionation and storage capacity on acceptable terms; the capacity and reliability of facilities; the application of regulatory requirements respecting abandonment and reclamation; the recoverability of the Company’s reserves and contingent resources; ability to attract a partner to participate in its tight gas exploration/appraisal play in Türkiye; future growth; the sufficiency of budgeted capital expenditures in carrying out planned activities; the impact of increasing competition; the ability to efficiently integrate assets and employees acquired through acquisitions; global energy policies going forward; future debt levels; and the Company’s continued ability to obtain and retain qualified staff and equipment in a timely and cost efficient manner. In addition, the Company’s work programmes and budgets are in part based upon expected agreement among joint venture partners and associated exploration, development and marketing plans and anticipated costs and sales prices, which are subject to change based on, among other things, the actual results of drilling and related activity, availability of drilling, offshore storage and offloading facilities and other specialised oilfield equipment and service providers, changes in partners’ plans and unexpected delays and changes in market conditions. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

Forward-looking information involves significant known and unknown risks and uncertainties. Exploration, appraisal, and development of oil and natural gas reserves and resources are speculative activities and involve a degree of risk. A number of factors could cause actual results to differ materially from those anticipated by the Company including, but not limited to: the ability of management to execute its business plan or realise anticipated benefits from acquisitions; the risk of disruptions from public health emergencies and/or pandemics; competition for specialised equipment and human resources; the Company’s ability to manage growth; the Company’s ability to manage the costs related to inflation; disruption in supply chains; the risk of currency fluctuations; changes in interest rates, oil and gas prices and netbacks; potential changes in joint venture partner strategies and participation in work programmes; uncertainty regarding the contemplated timelines and costs for work programme execution; the risks of disruption to operations and access to worksites; potential changes in laws and regulations, the uncertainty regarding government and other approvals; counterparty risk; the risk that financing may not be available; risks associated with weather delays and natural disasters; and the risk associated with international activity. See the most recent annual information form and management’s discussion and analysis of the Company for a detailed discussion of the risk factors.

The forward-looking information contained in this new release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this new release is expressly qualified by this cautionary statement.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This announcement is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

The MIL Network –

January 26, 2025

MIL-OSI: Progress on share buyback programme
Source: GlobeNewswire (MIL-OSI)

Progress on share buyback programme

ING announced today that, as part of our €2.0 billion share buyback programme announced on 31 October 2024, in total 4,016,274 shares were repurchased during the week of 31 October 2024 up to and including 1 November 2024.

In line with the purpose of the programme to reduce the share capital of ING, the ordinary shares were repurchased at an average price of €15.64 for a total consideration of €62,798,086.93. To date approximately 3.14% of the maximum total value of the share buyback programme has been completed.

For detailed information on the daily repurchased shares, individual share purchase transactions and weekly reports, see the ING website at www.ing.com/investorrelations.

Note for editors

For more on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom or via X @ING_news feed. Photos of ING operations, buildings and its executives are available for download at Flickr.

ING PROFILE
ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank’s more than 60,000 employees offer retail and wholesale banking services to customers in over 40 countries.

ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).

ING aims to put sustainability at the heart of what we do. Our policies and actions are assessed by independent research and ratings providers, which give updates on them annually. ING’s ESG rating by MSCI was reconfirmed by MSCI as ‘AA’ in August 2024 for the fifth year. As of December 2023, in Sustainalytics’ view, ING’s management of ESG material risk is ‘Strong’. Our current ESG Risk Rating, is 17.2 (Low Risk). ING Group shares are also included in major sustainability and ESG index products of leading providers. Here are some examples: Euronext, STOXX, Morningstar and FTSE Russell.

Important legal information

Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014 (‘Market Abuse Regulation’).

ING Group’s annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRS- EU’). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2023 ING Group consolidated annual accounts. All figures in this document are unaudited. Small differences are possible in the tables due to rounding.

Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to diﬀer materially from those expressed or implied in such statements. Actual results, performance or events may diﬀer materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING’s core markets, including changes affecting currency exchange rates and the regional and global economic impact of the invasion of Russia into Ukraine and related international response measures (2) changes affecting interest rate levels (3) any default of a major market participant and related market disruption (4) changes in performance of financial markets, including in Europe and developing markets (5) fiscal uncertainty in Europe and the United States (6) discontinuation of or changes in ‘benchmark’ indices (7) inflation and deflation in our principal markets (8) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness (9) failures of banks falling under the scope of state compensation schemes (10) non-compliance with or changes in laws and regulations, including those concerning financial services, financial economic crimes and tax laws, and the interpretation and application thereof (11) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of Russia into Ukraine and the related international response measures (12) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks (13) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions (also among members of the group) (14) ING’s ability to meet minimum capital and other prudential regulatory requirements (15) changes in regulation of US commodities and derivatives businesses of ING and its customers (16) application of bank recovery and resolution regimes, including write down and conversion powers in relation to our securities (17) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders who feel misled or treated unfairly, and other conduct issues (18) changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA (19) operational and IT risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence (20) risks and challenges related to cybercrime including the eﬀects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing (21) changes in general competitive factors, including ability to increase or maintain market share (22) inability to protect our intellectual property and infringement claims by third parties (23) inability of counterparties to meet financial obligations or ability to enforce rights against such counterparties (24) changes in credit ratings (25) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change and ESG-related matters, including data gathering and reporting (26) inability to attract and retain key personnel (27) future liabilities under defined benefit retirement plans (28) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (29) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (30) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING’s more recent disclosures, including press releases, which are available on www.ING.com.

This document may contain ESG-related material that has been prepared by ING on the basis of publicly available information, internally developed data and other third-party sources believed to be reliable. ING has not sought to independently verify information obtained from public and third-party sources and makes no representations or warranties as to accuracy, completeness, reasonableness or reliability of such information.

Materiality, as used in the context of ESG, is distinct from, and should not be confused with, such term as defined in the Market Abuse Regulation or as defined for Securities and Exchange Commission (‘SEC’) reporting purposes. Any issues identified as material for purposes of ESG in this document are therefore not necessarily material as defined in the Market Abuse Regulation or for SEC reporting purposes. In addition, there is currently no single, globally recognized set of accepted definitions in assessing whether activities are “green” or “sustainable.” Without limiting any of the statements contained herein, we make no representation or warranty as to whether any of our securities constitutes a green or sustainable security or conforms to present or future investor expectations or objectives for green or sustainable investing. For information on characteristics of a security, use of proceeds, a description of applicable project(s) and/or any other relevant information, please reference the offering documents for such security.

This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING specifically disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the filing of this document. Many of those factors are beyond ING’s control.

Any forward-looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.

This document does not constitute an oﬀer to sell, or a solicitation of an oﬀer to purchase, any securities in the United States or any other jurisdiction.

Attachment
- Progress on share buyback programme
The MIL Network –
January 26, 2025
MIL-OSI: Karolinska Development’s portfolio company BOOST Pharma successfully completes pre-IND meeting with FDA and receives second tranche of investment
Source: GlobeNewswire (MIL-OSI)

STOCKHOLM, SWEDEN, November 5 2024. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company BOOST Pharma has succesfully completed a pre-IND meeting with the U.S. Food and Drug Administration, FDA, for its cell therapy aiming to treat children with the rare bone disease Osteogenesis Imperfecta (OI). The positive outcome from the meeting will trigger the second tranche of Karolinska Development’s investment in BOOST Pharma.

BOOST Pharma has completed a pre-IND meeting with the FDA where the company received positive response of the proposed clinical development plan for its allogeneic cell therapy as a treatment of the rare bone disease Osteogenesis Imperfecta (OI). The primary objective of the meeting was to present results from the phase 1/2 clinical trial BOOSTB4 and to seek concurrence on the development plan and the design of a phase 3 clinical trial to be qualified as a registration trial. BOOST Pharma received positive and constructive feedback from the FDA and will now start preparations for the phase 3 clinical program to be executed in U.S. and Europe, which includes submission of an IND containing the full phase 3 trial protocol to the FDA.

The positive outcome from the pre-IND meeting will trigger the second tranche of Karolinska Developments investment in BOOST Pharma according to the agreement concluded earlier this year.

“The successful pre-IND meeting marks an important milestone for our portfolio company BOOST Pharma in the ongoing development of a potentially groundbreaking treatment for an agonizing disease. Following this important advancement, Karolinska Development is delighted to increase its ownership in this exciting and mature project, which is rapidly approaching phase 3.” says Viktor Drvota, CEO of Karolinska Development.

BOOST Pharma is developing a first-in-class and potentially groundbreaking cell-based treatment for the congenital disease osteogenesis imperfecta (OI), a condition characterized by fragile bones, constant fractures and deformities of bones. The treatment is based on novel cell therapy, using human stem cells, with especially high bone-forming capabilities. The company is the first to develop a treatment to be administered directly upon diagnosis, either before or right after birth, providing a possible treatment advantage in the early years of life, when most fractures occur.

BOOST Pharma’s cell therapy has received Rare Pediatric Disease designation in the U.S. and Orphan Drug Designation in the U.S. and EU.

Karolinska Development’s ownership in BOOST Pharma will amount to 10% following this second tranche.

For further information, please contact:

Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com

Johan Dighed, General Counsel and Deputy CEO, Karolinska Development AB
Phone: +46 70 207 48 26, e-mail: johan.dighed@karolinskadevelopment.com

TO THE EDITORS

About BOOST Pharma ApS
BOOST Pharma ApS is a Danish company founded based on research from Karolinska Institutet, focusing on novel cell therapy treatments for osteogenesis imperfecta, OI. The company’s treatment has a unique position on the market since it targets the underlying condition causing fractures and bone deformities, unlike any other product under development.

About Karolinska Development AB
Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The Company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patients’ lives while providing an attractive return on investment to shareholders.

Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.

Karolinska Development has a portfolio of eleven companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.

The Company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network.

For more information, please visit www.karolinskadevelopment.com

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- KD Boost Pharma FDA pre-IND_ENG
The MIL Network –
January 26, 2025
MIL-OSI Russia: Internship of Russian specialists in China has started

Translation. Region: Russian Federation –

Source: State University of Management – Official website of the State –

On November 4, a group of Russian specialists – graduates of the Presidential Program, led by the Director of the Federal Resource Center Alexey Bunkin, arrived in the People’s Republic of China in Beijing to undergo an overseas internship in the areas of “Economic Cooperation in Mechanical Engineering” and “General Economic Cooperation”. 50 representatives of Russian business from 20 regions of the Russian Federation will undergo an intensive internship in the largest organizations in Beijing and Shanghai for a week.

The rector of the State University of Management Vladimir Stroyev is taking part in the Russian business mission. Let us recall that the State University of Management has been the operator of the program for training Russian specialists abroad for the third year in a row, which is conducted for graduates of the Presidential Program for Training Management Personnel for Organizations of the National Economy of the Russian Federation.

The business program of internship of Russian specialists in Beijing was opened by the director of the Federal State Budgetary Institution “FRC” Alexey Bunkin, emphasizing that the internship opens up great opportunities for business representatives to establish business contacts, get acquainted with the peculiarities of the organization and management of enterprises, and study the experience of high-tech production.

Then, the rector of the State University of Management Vladimir Stroyev made a welcoming speech, noting that the program for training specialists abroad is a kind of driver for the development of trade and economic relations between the Russian Federation and other countries, providing participants with the opportunity to establish business contacts for the development of mutually beneficial economic ties and their own business, meet foreign partners, study the equipment and technologies offered, and negotiate with potential partners in specific areas and types of activities. Vladimir Stroyev also emphasized that internships are highly effective in terms of building horizontal ties and partnerships among Russian specialists. The rector of the State University of Management expressed confidence that the implementation of such projects will help form a new generation of entrepreneurs operating on the basis of specially formed competencies and practical skills in building international economic cooperation.

After the completion of the official opening of the program, representatives of the Trade Mission of the Russian Federation in the People’s Republic of China, the Representative Office of the Ministry of Economic Development of the Russian Federation in the People’s Republic of China, and the Russian House in Beijing made presentations.

The speakers talked about how to find a Chinese counterparty and start exporting your products to China, about the financial aspects of entering the Chinese market and checking the reliability of Chinese companies. The reports caused a lively discussion and a large block of questions.

Representatives of Russian departments in China wished the interns fruitful work and successful completion of the program and once again emphasized their readiness to provide assistance and support in the implementation of business projects for the benefit of the interests of Russian-Chinese trade and economic relations.

The first day’s program ended with an organizational meeting with the working group of the State University of Management under the leadership of Vice-Rector Dmitry Bryukhanov, during which they discussed in detail the upcoming events of the program, the specifics of representing Russian companies at meetings with representatives of the Chinese business community in terms of intercultural communication and the specifics of conducting negotiations with potential partners at B2B and individual meetings.

Subscribe to the TG channel “Our GUU” Date of publication: 11/5/2024

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

MIL OSI Russia News –

January 26, 2025
MIL-OSI China: New initiative digs into literature for cinematic inspiration

Source: China State Council Information Office 3

The inaugural Neutron Star Fiction Monthly Film & TV Adaptation Value Potential List was unveiled on Nov. 1, awarding 10 works that could be adapted into either films or TV series. Taking place in Beijing, the event also promoted the close connection between literature and film.

Renowned screenwriter Chen Yu, chairman of Neutron Star Films, speaks at the Neutron Star Fiction Monthly Film & TV Adaptation Value Potential List release ceremony in Beijing, Nov. 1, 2024. [Photo courtesy of Neutron Star Films]

Neutron Star Films, Yida Media alongside Baihua Literature and Art Publishing House jointly announced the list to forge stronger connections between distinguished authors and film and TV producers.

According to organizers, the initiative seeks to display literary works’ potential to become film and TV adaptations. This provides a more diverse variety of compelling storytelling blueprints for film and TV creation, thereby fostering reciprocity and co-prosperous development between sectors of the media and entertainment industry.

Organizers spent a year gathering over 370 literary works from issues of Fiction Monthly, and its various versions, as well as Science Fiction Cube. All publications are distributed by Baihua Literature and Art Publishing House. After three rounds of evaluations by experts and industry leaders, five short stories and five novellas were chosen. The final 10 works were selected based on having the highest potential for film and TV adaptation.

For best short stories, the five works selected were “Night Wanderer,” “Birds Fly into the Forest,” “The Case of the Missing Shepherd,” “1993” and “Going to the Future for Shopping.” For best novellas “Land of No Name,” “Architecture Ethics,” “Remain Silent,” “Mutual Hunt” and “High Building in the Northwest” were chosen as potential source material for film and TV adaptions. The selected works cover topics such as romance, martial arts and contemporary urban life. Among them, “Night Wanderer” and “Land of No Name” were the highest-voted works in the short story and novella categories, respectively.

The organizers promised that they will deliver these literary works to production companies within the film and TV industry. This initiative aims to fully meet the market’s demand for a diverse range of film and TV content while also addressing the various needs of streaming platforms and their audiences.

Organizers of the event pose with the shortlisted works’ writers for a photo at the Neutron Star Fiction Monthly Film & TV Adaptation Value Potential List release ceremony in Beijing, Nov. 1, 2024. [Photo courtesy of Neutron Star Films]

“The profound expression of classic literature is still needed in the fragmented viewing atmosphere of the short video era, thus adaptations of classic literature into films and television series have ‘essential’ value in this age,” veteran screenwriter Chen Yu pointed out during the event to announce the 10 literary works.

Chen Yu, also a professor at Peking University and a famed director, is responsible for several blockbusters that were directed by China’s prominent filmmaker Zhang Yimou, such as “Under the Light” and “Full River Red.” Chen Yu founded Neutron Star Films and has served as its chairman since last year.

He noted that the film and TV industry’s lack of original content makes the search for excellent stories urgent. For the 10 shortlisted works, Chen Yu not only highlighted their textual values but also offered guidance on potential methods to develop them into film and TV projects, providing project references and discussing their relevance to contemporary values.

Speakers pose for a photo on stage after a forum themed “How film and TV works draw nutrients from literature,” held following the Neutron Star Fiction Monthly Film & TV Adaptation Value Potential List release ceremony in Beijing, Nov. 1, 2024. [Photo courtesy of Neutron Star Films]

A forum themed “How film and TV works draw nutrients from literature” was held following the announcement of the list, with six heavyweight speakers joining the panel to share their insight and experiences.

During the session, Chen Yan (no relation to Chen Yu), vice chairman of the Chinese Writers Association and the China Theatre Association, emphasized that even short literary works should convey a grand theme and delve into the finer details of life, focusing primarily on a rich depiction of human nature. Regarding cinematic adaptations, he noted that while film and TV versions of literary works should respect the original work’s intent, scriptwriters should also have the freedom for creative interpretation.

Chen Yu believes that to determine whether a novel is worth adapting into a film or TV drama several criteria should be considered, including whether the work possesses contemporary relevance and originality as well as features distinctive characters and character relationships.

MIL OSI China News –

January 26, 2025
MIL-OSI: Terranet invites to presentation of Q3 report on November 7, 2024
Source: GlobeNewswire (MIL-OSI)

On November 7, Terranet AB (publ) will release its Q3 report for 2024. On the same day at 10 a.m. CET, the company’s CEO Magnus Andersson and CTO Pierre Ekwall will provide an update on the operations in a webcast.

The event will be broadcast digitally and is open to the public. The presentation will be held in English. Via the webcast, there is an opportunity to ask written questions.

Link to the webcast: https://ir.financialhearings.com/terranet-q3-report-2024
The webcast will be available on both Finwire’s and Terranet’s websites after the broadcast has finished.

For more information, please contact:
Magnus Andersson, VD
E-mail: magnus.andersson@terranet.se

About Terranet AB (publ)
Terranet’s goal is to save lives in urban traffic. The company develops innovative technical solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV). Terranet’s anti-collision system BlincVision laser scans and detects road objects up to ten times faster than any other ADAS technology available today.

The company is headquartered in Lund, with offices in Gothenburg and Stuttgart. Since 2017, Terranet has been listed on Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B). Follow our journey at: www.terranet.se

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- 241105_Terranet_Webcast_Q3_ENG
The MIL Network –
January 26, 2025
MIL-OSI Asia-Pac: Union Minister of Textiles Shri Giriraj Singh to inaugurate Handloom Conclave ‘Manthan’ at Dr. Ambedkar International Centre Janpath, New Delhi on 28.01.2025.
Source: Government of India (2)

Union Minister of Textiles Shri Giriraj Singh to inaugurate Handloom Conclave ‘Manthan’ at Dr. Ambedkar International Centre Janpath, New Delhi on 28.01.2025.

HMoT to launch Handloom weavers E- Pehchan Portal and Handloom Awards Online module.

Posted On: 25 JAN 2025 11:58AM by PIB Delhi

“Handloom Conclave- Manthan” is an interactive workshop with various stakeholders of Handloom sector viz. Handloom weavers/manufacturers, Retailers, Buyers, Designers, Academicians,Startup Founders,Handloom Entrepreneurs/Innovators,Handloom Co-operatives, E commers companies, from all segments of 5F vision of Hon’ble Prime Minister -Farm to Fibre to Factory to Fashion to Foreign to chalk out future road map for handloom sector. The conclave will be attended by almost 250 stakeholders comprising 21 panelists, 120 handloom beneficiaries coming from all parts of the country to join the conference , 35 officials from Weavers Service Centres and IIHTs, around 25 State Govt. Officials (Handloom,Silk & Textiles) and officials from various other departments and establishments of the Textile Ministry. The conclave aims to serve as a platform for various stakeholders to come together and share best practices, innovations, and strategies for growth in the handloom sector.

This initiative aligns with the government’s ongoing efforts to enhance the livelihoods of weavers and improve the overall handloom industry. It will also help in developing the handloom sector as a key sector with immense potential to act as a growth engine for Viksit Bharat 2047.

Hon’ble Union Minister of Textiles will grace the event as the chief guest for the Inauguration. The Hon’ble Minister of State for Textiles will be the guest of honour, in the gracious presence of Secretary (Textiles) and Development Commissioner for Handlooms.

Key highlights of the Event:
- There will be 03 Technical Sessions:
1. Support for start-up eco system in Handloom Sector.
2. Handloom Marketing Avenues and strategies.
3. Modelling Handloom Sector for Young Weavers: Approach and Strategy.
The Technical session on “Support for start-up eco system in Handloom Sector” will highlight various initiatives of Office of DC (Handlooms) to support start-ups and young entrepreneurs and to create a robust eco-system for start-ups working in handloom sector.

In the panel discussion on “Handloom Marketing Avenues and Strategies” experiences and best practices of the handloom marketing will be shared by the distinguished panellists. This discussion would be useful for the aspiring entrepreneurs, organizations and also for the entire handloom sector.

The final session will be focussed on discussing various strategies for making the handloom sector attractive for the younger generation and involving the youth in creating a more vibrant and sustainable value chain in the handloom sector by adding more value proposition through various technical interventions and help of social and digital media.

The panelists of above technical sessions will be representing various entities of the entire handloom value chain such as Government Officials, Technical Experts, Start-up founders, Handloom Co-operatives, Producer Companies,Academicians from NIFT and other institutes,E-Commerce stores, Handloom retailers, Weaver Entrepreneurs/innovators, Sustainable brands, Handloom Exporters and designers; their valuable insights will benefit the entire handloom community attending Handloom Conclave: Manthan.

****

Dhanya Sanal K

Director

(Release ID: 2096040) Visitor Counter : 33

MIL OSI Asia Pacific News –
January 26, 2025

MIL-OSI Asia-Pac: Year End Review 2024: Department of Water Resources, River Development and Ganga Rejuvenation,

Source: Government of India (2)

Posted On: 25 JAN 2025 10:14AM by PIB Delhi

The Department of Water Resources, River Development and Ganga Rejuvenation, Ministry of JalShakti has been working relentlessly towards achieving the vision and mission of making India a ‘Water Secure Country’ as envisioned by Prime Minister, Shri Narendra Modi. The Ministry of Jal Shakti, formed in 2019 by bringing together all water related departments and organizations under one umbrella Ministry, has been playing a pivotal role in implementation of a focused strategy towards making India ‘Water Secure’ while ensuring optimal utilization of precious and scarce water resources across the nation. During the year2024, the Department of Water Resources, River Development and Ganga Rejuvenation has undertaken several new initiatives and achieved significant outcomes/milestones. Following is some of the key achievements of the Department in 2024:

National Mission forClean Ganga (NMCG)

National Mission for Clean Ganga, in the year 2024, completed 25 projects which resulted in the completion of a cumulative total of 303 projects, sofar, and also sanctioned 39 new projects amounting to ₹ 2,056 crore, bringing the cumulative total to 488 projects sanctioned worth ₹ 39,730 crore. In sewerage infrastructure, 12 projects for the creation/ rehabilitation of 305 MLD sewage treatment capacity have been sanctioned between January to December 2024. In the same period, 16 projects for the creation/ rehabilitation of 750 MLD sewage treatment capacity have been completed. Till date, a total of 203 sewerage infrastructure projects have been sanctioned in the Ganga Basin for the creation of 6,255 MLD sewage treatment capacity and the laying of a 5,249 km sewer network.

Other key achievements during the year 2024 are as follows:

(A) Inauguration and Laying of Foundation Stones Sewerage infrastructure projects by Hon’ble Prime Minister (Under Nirmal Ganga)

On 25^thJanuary 2024, the Hon’ble Prime Minister inaugurated the following projects with a cumulative cost of ₹ 790.5 Crores from Bulandshahr, Uttar Pradesh.

Construction of 30 MLD STP at Masani, Mathura (under Hybrid Annuity-basedPPP (HAM) model under Namami Gange Program), Rehabilitation of existing (30 MLD at Trans Yamuna and 6.8 MLD STP at Masani, Mathura) total 36.8 MLD and Construction of 20 MLD TTRO plant (Tertiary Treatment and Reverse Osmosis Plant), Masani, Mathura

Construction of 58 MLD STP with 264 km and sewerage Network at Moradabad

On 1st March 2023, the Hon’ble Prime Minister inaugurated three projects worth
₹ 575 crore from Hooghly, West Bengal. These projects include, 40 MLD STP work with Interception & Diversion at Bally, West Bengal, 60 MLD STP work with Interception & Diversion at Kamarhati and Baranagar Municipalities, West Bengal and 65 MLD STP work with Interception & Diversion at Howrah.

On 2^nd March 2024, the Hon’ble Prime Minister inaugurated twelve projects worth ₹ 2,189 crore from Aurangabad, Bihar. These projects include 60 MLD STP and 162 km sewerage network at Saidpur, Patna, 60 MLD STP at Pahari, Patna, 93 km sewerage network at Pahari Zone IVA (S), Patna, 116 km sewerage network at Pahari Zone V, Patna, 180 km sewerage network at Beur, Patna, 96 km sewerage network at Karmalichak, Patna, 11 MLD STP at Barh, Patna, 10 MLD STP at Sultanganj, Bhagalpur, 9 MLD STP at Naugachia, Bhagalpur, 3.50 MLD STP at Sonepur, Saran, 32 MLD STP at Chhapra, Saran.

On 10^th March 2024, the Hon’ble Prime Minister inaugurated three sewage projects worth ₹ 1,114 crore from Azamgarh, Uttar Pradesh. These projects include 72 MLD STP and I&D network work at Naini (District-G, 42 MLD), Phaphamau (District-F, 14 MLD) and Jhunsi (16 MLD), Prayagraj, 30 MLD STP and I&D network work at Jaunpur and 45 MLD STP and I&D network work at Etawah.

On 2^nd October 2024, the Hon’ble Prime Minister inaugurated and laid the foundation stone for ten sewage treatment plant (STP) projects with a total cost of ₹ 1,555 crore. Among these, five projects worth ₹ 534.25 crore were inaugurated across Uttar Pradesh and Bihar. Additionally, laid the foundation stone for five more projects across Bihar, Jharkhand, and Uttar Pradesh, amounting to ₹ 1,021 crore.

(B) Inauguration and Laying of Foundation Stones Sewerage infrastructure projects by Hon’ble Union Minister of Jal Shakti (Under Nirmal Ganga)

On 4^th January 2024, the Hon’ble Union Minister for Jal Shakti inaugurated 14 MLD Sewage Treatment Plant (STP) with a 2.4 km Interception & Diversion (I&D) Network worth ₹ 77.36 crores in Baghpat, Uttar Pradesh.

On 18^th January 2024, the Hon’ble Union Minister for Jal Shakti laid the foundation stone for the 220 MLD Meerut sewage treatment plant (STP) with interception and diversion (I&D) project worth ₹ 370 crore in Meerut, Uttar Pradesh.

Training on Occupational Health & Safety Audit

NMCG organized 9 virtual safety training program and trained more than 1,500 officials on “Occupational Health and Safety Audit (OHSA)” From January 2024 to December 2024, to ensure workplace safety and compliance.

Activities Under Biodiversity Conservation (Under Aviral Ganga)

The programme has sanctioned projects focused on protecting and rehabilitating fishery, turtles, crocodiles, and dolphins. Projects Sanctioned in the year 2024 are as under :

Advancing Rescue System for the protection of stranded Ganges river Dolphins.
Conservation, Reintroduction, and Rehabilitation of threatened Turtles along ganga basin.

· Expanding Conservation Breeding Programme of Freshwater Turtle and Gharial at Kukrail Rehabilitation Centre, Lucknow

NMCG, in partnership with CIFRI, has successfully implemented fish ranching programs for Indian Major Carps and other species. In 2024, notable achievements include – Ranching of Indian Major Carps (IMC): 49.25 lakhs, Mahseer: 7,370, Hilsa: 42,117 and Hilsa tagging: 1,387 nos.

Important Activities (under Jan Ganga)

Launch of Namami Niranjana Abhiyan: NMCG launched the “Namami Niranjana Abhiyan” on 20^th February 2024, aimed at ensuring the perennial flow of the Niranjana (Falgu) river and bolstering the ongoing efforts of the “Niranjana (Falgu) River Recharge Mission”. The Falgu river, revered as Niranjana in Bodhgaya and Falgu in Gaya, originates from Belgadda in the Simaria block of Chatra district, Jharkhand, holding profound significance in the Hindu Sanatan religion. Pilgrims partake in rituals such as PindDaan and Tarpan for their ancestors using water from the Falgu river.
Celebration of International Day of Yoga: On the occasion of the International Day of Yoga, the National Mission for Clean Ganga (NMCG) organized ‘Ghat Par Yoga’ at BSF Camp, Zero Pushta, Sonia Vihar in Delhi on the bank of River Yamuna on 21^st June, 2024. Over 1,000 people participated in the event including officials and staff from the NMCG, NGOs under the Yamuna Action Plan (YAP-III) of the Delhi Jal Board (DJB), the Border Security Force (BSF), Ganga Vichar Manch, various other NGOs, as well as students and children.
8^thIndia Water Week 2024: The 8^th edition of India Water Week (IWW) 2024 was held during 17-20 September 2024, in New Delhi, on the theme “Partnerships and Cooperation for Inclusive Water Development and Management.” This prestigious international event has become a key platform for collaboration in water resource management. The event was inaugurated by the President of India, alongside Hon’ble Union Minister of Jal Shakti, and Hon’ble Minister of State for Jal Shakti.

Ganga Utsav- A River Festival 2024: On 4^th November 2024, the 8th edition of Ganga Utsav was organized by NMCG at scenic Chandi Ghat in Haridwar to promote the conservation of the Ganga River, emphasize its cultural and spiritual importance, and raise public awareness about cleanliness. The event was inaugurated by Hon’ble Union Minister of Jal Shakti in the august presence of the Hon’ble Union Minister of State for Jal Shakti, Hon’ble Uttarakhand Minister for Women & Child Welfare, Secretary, DoWR, RD & GR, Ministry of Jal Shakti, and DG, NMCG. This eighth edition of the event was the first time held on the riverbank, with celebrations extending across more than 110 districts in the Ganga basin states.The event featured participants from diverse spheres, including students, scientists, spiritual leaders, and more.
9^th India Water Impact Summit: The 9^th India Water Impact Summit (IWIS) & 2^nd Climate Investments and Technology Impact Summit were organised jointly by NMCG & c-Ganga from 4^th to 6^th December 2024 at Bharat Mandapam, New Delhi.

International Collaboration

Meeting with German Delegates: On 9^th May 2024, a meeting was held with the Deputy Head of the Economic Division, German Embassy to discuss the current status of projects aimed at rejuvenating the Ganga River, supported through bilateral cooperation between India and Germany.
Workshop on Strengthening Quality Infrastructure for Water Monitoring of the Ganges River II: NMCG in association with Physikalisch- Technische Bundesanstalt (PTB) under Indo-German Technical Cooperation Programme organised a 6-day training programme from 22^nd July to 31^st July 2024.
Inception Workshop for District Ganga Plans: On 5^th July 2024, NMCG in association with GIZ organized an inception workshop for the District Ganga Plans. The workshop aimed to create comprehensive District Ganga Plans (DGPs) based on a River Basin Management approach, which has been prepared for four pilot districts.
Smart Laboratory for Clean Rivers (SLCR): The Smart Lab for Clean Rivers (SLCR) has been set up under the Green Strategic Partnership between India and Denmark to bring global solutions on current challenges in the field of clean river water, conduct collaborative research and development to fit in real environment through Living lab approach and creation of platform between Government authorities, academic institutions and technology providers for knowledge sharing and co-creation to achieve clean river water.
Meeting of the Joint Review Committee: On 9^th October 2024, the first meeting of the Joint Review Committee (JRC) under the India-Israel Memorandum of Understanding (MoU) was held under the chairmanship of DG, NMCG, to address priority areas such as reducing non-revenue water, urban water management through IoT and AI, wastewater treatment, and sewage sludge management.

Development of knowledge products (Under Gyan Ganga)

The ‘River Atlas for Ganga Main Stem Districts’, an in-house developed knowledge product of the GKC was launched by the Hon’ble Minister of Jal Shakti on 09^thDecember 2024 during the 13th Empowered Task Force Meeting. The atlas comprises maps of River Ganga and its tributaries, covering five main stem states in the Ganga basin – Uttarakhand, Uttar Pradesh, Bihar, Jharkhand, and West Bengal. This comprehensive Atlas is essential for the effective implementation of policies and programs and accurate planning and informed decision-making.

National Water Mission (NWM)

MoU with Girganga Parivar Trust (Girganga) has been signed on 22.10.2024 on Pro bono basis. They have committed to build 11,111 bore well recharge and 11,111 check dams.
MoU with Sarkaritel.com/jalprahari.in has been signed on 13.12.2024 on Pro bono basis. They have committed for generating awareness on Water Conservation in the public.
MoU with Vyakti Vikas Kendra India (VVKI), the Art of Living has been signed on 16.12.2024 on Pro bono basis. They have committed for creating of Water recharge structure with the help of implementing many River Rejuvenation Programs through Government scheme MGNREGA

Central Water and Power Research Station, Pune
Central Soil and Material Research Station, New Delhi
National Institute of Hydrology, Roorkee
Central Water Commission, New Delhi

Publication of research/ technical reports – 281 Nos.
Organisation of Trainings and workshops – 94 Nos.
Training of people for capacity building- 2623 persons
Publication of high impact technical report & research papers – 18 Nos.

13 new research schemes has been recommended by Standing Advisory Committee and approved by Secretary (WR).
The research project “Hydro-geological Assessment and Socio-Economic implications of Depleting Water Resources in tourist towns of Uttarakhand” has been completed.
The research project “Irrigation Efficiency Improvement through On–farm Water Management” has been completed.
The research project “Dynamic Downscaling to study Climate Change Impacts on
Water Resource in India” has been completed.

National Water Development Agency (NWDA): Inter-Linking of Rivers Project

Under National Perspective Plan (NPP) formulated by Government of India, 30 inter-basin water transfer links (16 Peninsular and 14 Himalayan component) have been identified by National Water Development Agency for preparation of Feasibility Reports. Detailed Projects Reports (DPRs) of 11 links, Feasibility Reports (FRs) of 26 links and Pre-Feasibility Reports (PFRs) of all the 30 links have been prepared. The Inter-Linking River (ILR) Programme has been taken up on high priority by Government of India. The works related to ILR projects are already in progress. Five links have been identified as priority links by Govt. of India viz., Ken-Betwa Link Project (KBLP), Modified Parbati-Kalisindh-Chambal Link Project (MPKC) and Godavari-Cauvery (G-C) Link Project (comprising of 3 link systems).

System studies of four link projects viz.; Manas-Sanksoh-Teesta-Ganga (MSTG) link, Ganga-Damodar-Subernarekha (GDS) link, Subernarekha-Mahanadi (SM) link and Farakka-Sunderbans (FS) link have been initiated and the work of these four links has been awarded to IIT, Guwahati, NIT, Patna, NIT, Warangal and NIH, Roorkee respectively. Inception Reports have been submitted in June, 2023 by all the four Institutes. The draft final reports of MSTG and GDS have been submitted by the respective Institutes. The system studies of Mahanadi-Godavari link have been completed by NIH, Roorkee and the Final Report has been submitted in May, 2023. Awarding of work for system studies of southern linkage initiated, however, it may be taken up after finalization of quantity of water that can be transferred from MSTG, GDS, FS and SM link projects to Mahanadi river, as per system studies.

Ken-Betwa Link Project (KBLP): is the first inter-linking of rivers (ILR) project for which implementation has been initiated. The project will be of immense benefit to the water starved Bundelkhand Region, spread across the States of Madhya Pradesh and Uttar Pradesh which includes districts of Panna, Tikamgarh, Niwari, Chhatarpur, Sagar, Damoh, Datia, Vidisha, Shivpur&Raisen and Banda, Mahoba, Jhansi & Lalitpur respectively. The status of KBLP is as given below:

Subsequent to signing of tripartite agreement in year, 2021, Govt. of India approved implementation of the project in December, 2021 at an estimated cost of Rs. 44,605 Crore with central support of Rs. 39,317 Crore.
With allocation of budget under RE of FY 2021-22, the implementation of the project has started.
Steering Committee and Ken-Betwa Link Project Authority (KBLPA) were been constituted vide Gazette Notification dated 11.02.2022.
KBLPA HQ Office is set up at Bhopal with three more offices at Chhatarpur, Panna and Jhansi, which are fully functional with regular CEO/ACEOs, Director (Fin.) and other officials.
Six meetings of Steering Committee and Six meetings of KBLPA have been held so far.
Initially the focus is on land acquisition, R&R, fulfilling the compliances to the conditions of forest clearance and wildlife clearance.
Greater Panna Landscape Council (GPLC) under Chief Secretary, Govt. of MP has been constituted for implementation of Landscape Management Plan through various stakeholders. Its first meeting was held on 05.09.23. Sub-Committee of GPLC was constituted on 16.10.2023 and its 1^st& 2^nd meetings were held on 17.10.2023 & 29.11.2023 respectively.
Planning for an Integrated Research and Learning Centre (IRLC) at Panna has already been initiated by WII.
The Monitoring Committee for R&R works of KBLP under Secretary, DoLR, MoRD has been constituted.
Collector, Chhattarpur has made payment of Rs. 197.23 Crore to the affected Families. Whereas, Collector Panna has made payment of Rs.76.82 Crore to the affected families of Panna. The remaining Land Acquisition Payment for Private land in both the districts are in Progress.
The work for engagement of Project Management Consultant (PMC) is in process. 9 bids were received for PMC, Result of Technical Evaluation of Bids was published on the CPP Portal on 22.08.2024. The Financial Proposals of the 5 technically qualified firms were opened on 10.09.2024. 20 meetings of Consultancy Evaluation Committee (CEC) for hiring PMC have been held so far. 20^th meeting of CEC was held on 11.09.2024 for financial evaluation of bids. After financial and technical evaluation of bids received, recommendations of the CEC have been submitted to DoWR,RD&GR, MoJS for approval on 13.09.2024.
A Technical Advisory Group for KBLP (TAG-KBLP) for KBLPA has been constituted to review and advise KBLPA on various planning and technical matters on implementation of various components of the link project. 10 meetings of TAG have been held so far.
The tender document for the main component of the project i.e. Daudhan dam and its Appurtenant works (EPC mode) was finalized by Technical Advisory Group of KBLP and the Tender Evaluation Committee (TEC) and floated on CPP portal on 11.08.2023. The complete proposal of technical and financial evaluation of bids was sent to Ministry of Jal Shakti that has been approved by Ministry. Subsequently, KBLPA has issued Letter of Acceptance to M/s NCC Limited for the work of Daudhan dam on 28.11.2024.
Stage–II Forest Clearance for diversion of 6017.00 ha of forest land for development of KBLP has been accorded by MoEF& CC on 03.10.2023.
The draft tender for EPC execution of Ken-Betwa Link Canal is prepared in two packages and circulated to State Governments of MP and UP for their comments/suggestions. Suggestions from Govt. of UP have been received.
PTR has accepted total 6017 ha non-forest land Transferred/ Mutated. Notification of 6017 ha has been completed by Forest Department under section-29 of Indian Forest Act-1927 and has been published.
Land in submergence: 3239 ha (Govt. Land: 1784.67 ha + Private Land 1454.33 ha) of land is coming under submergence area of Daudhan Dam. Private land of 1454.33 ha and Government land of 1604.429 ha has been mutated in favour of WRD, MP. Balance 180.241 ha Government land is likely to be transferred to WRD, MP soon.
Land Acquisition for Ken Betwa Link canal (99 villages of MP and 10 villages of UP) is under progress.
The work on State specific components like Lower Orr, Kotha Barrage and Bina Complex Multipurpose Project is already in progress. Head Works of Lower Orr has been completed whereas Head Works for Kotha & Bina are ongoing.

Cumulative Progress (%) upto December, 2024

Lower Orr : 67.00
Kotha Barrage: 59.00
Bina Complex: 50.20

The preparation of DPRs of components of UP likes two barrages, renovation and modernization of Tanks of Mahoba district, renovation and modernization of three weirs and ken command system is in progress.
Hon’ble Prime Minister Shri Narendra Modi Ji laid the Foundation Stone of KBLP on 25.12.2024 at Khajuraho (Madhya Pradesh).
The project is planned to be completed in 8 years by March, 2030.

Modified Parbati-Kalisindh-Chambal Link Project (MPKC):

PFR has been circulated to concerned States. The work of DPRs is under progress.
Memorandum of Understanding (MoU) has been signed on 28.01.2024 amongst States of MP, Rajasthan and Govt. of India.
Memorandum of Agreement (MoA) of Modified Parbati-Kalisindh-Chambal link project has been signed on 05.12.2024 amongst States of MP, Rajasthan and Govt. of India. Subsequently Hon’ble Prime Minister declared the signing of the agreement on 17^th December, 2024 at Rajasthan.

Godavari-Cauvery (G-C) Link Project (comprising of 3 link systems):

Modified proposal for transfer of 4189 MCM of water from Godavari along with supplementation in Krishna basin through Bedti-Varda link (524 MCM) has been studied by NWDA.
Draft DPR of the modified /revised proposal has circulated to the concerned State/UT during Jan., 2024.
Draft MoA has been prepared for implementation of the project and circulated to concerned State/UT for perusal and observation during April, 2024.
Concerted efforts are being made for building up consensus amongst the States/UT for signing of MoA for the early implementation of this link project.

8^th India Water Week 2024:

IWW-2024 was successfully organized/held from 17^th to 20^th September, 2024 at Bharat Mandapam, Pragati Maidan, New Delhi.
The theme of the 8^th India Water Week is “Partnerships and Cooperation for Inclusive Water Development and Management”.
The mega event was inaugurated by the Hon’ble President of India.
The four-day multi-disciplinary conference comprises of Ministerial Plenary, Global Water Leaders’ Plenary (2), Country Forum (4), Water Leaders Forum (9), Practitioner’s Forum (8), Startup Forum, Youth Forum, Water Convention (18) one-day study tour and concurrently organized exhibition. Denmark, Australia and Israel were the Partner Countries. There were 15 Partner States viz.; Tamil Nadu, Odisha, Bihar, Chhattisgarh, Kerala, Haryana, Andhra Pradesh, Gujarat, J&K, Madhya Pradesh, Uttarakhand, Rajasthan, Uttar Pradesh, Karnataka and Telangana.

More than 4500 delegates from India & abroad participated in the IWW-2024. About 215 delegates from 40 countries participated in the conference. Parallel to the conference, in the exhibition 143 Exhibitors from Central, States Government, Public Sector undertakings, Private Firms, NGOs, Startups and Schools etc. showcased their technologies.

Central Water Commission (CWC)

(i) Central Water Commission has undertaken sedimentation assessment studies of selected reservoirs located in various States using Satellite Remote Sensing technique under the plan scheme “Research & Development Programme in Water Sector”. It is planned to take up the studies in respect of 80 reservoirs during 2021-26. Accordingly, the work of carrying out the study for the first batch of 40 reservoirs was outsourced. Due to non-availability of either the desired water levels or satellite data for a reservoir on date of satellite pass, study in respect of 31 reservoirs was feasible which has been completed and reports published during 2022 to 2024. Besides this sedimentation studies in respect of 30 reservoirs have been completed in-house using Remote Sensing Techniques. Furthermore, a Google Earth Engine-based tool has also been developed by CWC officers, in-house under Smart Water Resources Modelling Organization (SWRMO) – Centre for Excellence, to automate the assessment of sedimentation in the live storage zone of reservoir.

(ii) A World Bank (WB) and Asian Infrastructure Investment Bank (AIIB) team conducted the Mid-Term Review (MTR) mission for the Second Dam Rehabilitation and Improvement Project (DRIP-2) between January 17 and May 3, 2024. The mission held discussions with Implementing Agencies (IAs) in Bhubaneshwar (Odisha), Surat (Gujarat), and New Delhi and undertook field visits to selected dams in Gujarat (Ukai) and Odisha (Hirakud, Rengali). The wrap-up meeting was held in New Delhi, chaired by Joint Secretary, D/o WR, RD&GR, Ministry of Jal Shakti (MoJS) and attended by Project Director, Central Water Commission (CWC), members of the Central Project Management Unit (CPMU), the Engineering and Management Consultant (EMC), and representatives of all Implementing Agencies (IA). As part of the mission, a detailed exercise on the use of the rapid risk assessment tool for Indian dams, in compliance with the National Dam Safety Act 2021, was carried out between March 5 and May 3, 2024.

(iii) The quarterly dialogues on Coastal Area Management, initiated as per the direction of the Chairman, Central Water Commission (CWC) was held in April and May 2024.These dialogues brought together stakeholders from various levels of government, research institutions, and relevant departments to discuss pressing issues such as coastal erosion, salinity ingress, and the need for robust data collection and management. The dialogues provided a platform for sharing information, best practices, and innovative solutions from all stakeholders. As an outcome of the Quarterly Dialogue, CWC has published a report titled “Status Report on Coastal Area Management- An Indian Perspective, Region Issues & Remedial Measures”. The report provides a comprehensive overview of the challenges and initiatives related to coastal management in India. The report highlights the significant impacts of coastal erosion and salinity ingress, emphasizing the need for robust data collection, effective mitigation strategies, and increased collaboration among stakeholders.

(iv) A Smart Water Resources Modelling Organization acts as Centre of Excellence to grow as a pioneering hub for developing in-house expertise and innovation in tackling diverse problem statements and studies in water sector and directly reports to Chairman, CWC.

(v) Memorandum of Understanding (MoU) was signed on 06.06.2024between Central Water Commission (CWC) and IIT, Roorkeefor research work related to Irrigation Efficiency Assessment, Water Accounting studies, Cropped Area Mapping, Water Auditing, Urban Flood Forecasting & Risk Management, Urban Flood Inundation & Hazard Mapping, etc. These works will be carried out through mutual consultations and collaboration, leveraging the expertise and resources of both institutions.

(vi) A Memorandum of Understanding (MoU) has been signed between Central Water Commission (CWC) and Space Application Centre (SAC) in the field of hydrology and water resources management, leveraging remote sensing and collaborative research efforts for mutual benefit on 08^th July,2024.

(vii) Support for Irrigation Modernization Program (SIMP): Central Water Commission (CWC), DoWR, RD & GR has taken up an initiative Support for Irrigation Modernization Program (SIMP) with technical assistance from theAsian Development Bank (ADB) to modernize Major/ Medium Irrigation (MMI) projects in the country.

(viii) SIMP is proposed to be taken up in 4 phases. SIMP Phase-1 concluded on 31.12.2021 under which 4 MMI projects have been identified for inclusion under 1st batch of projects for preparation of Irrigation Modernization Plans (IMPs) out of the 57 proposals received from 14 States and 2 UTs. The entire process including the preparation of IMPs, Detailed Project Report (DPRs), detailed designs and final implementation/ project execution is expected to be completed by Phase-4. Implementation of the project would lie with the concerned States who would have an option to either fund it from their own resources or they can avail loan facility from ADB or any other financial institutions.

(ix) SIMP Phase-2 was initiated from November 2022. Irrigation Modernization Plan (IMP) of four projects namely VanivilasaSagara Project, Karnataka, Palkhed Project Maharashtra, Purna Project, Maharashtra and Loharu Lift Irrigation Project, Haryana have been prepared. As a 1st step for preparation of IMPs, FAO developed RAP-MASSCOTE (Rapid Appraisal Procedure-Mapping System and Services for Canal Operation Techniques) workshops were organized to assess the present status of the identified four projects. The findings of RAP MASSCOTE workshops and issues related to Batch 1 SIMP projects were discussed in a mid-term workshop organized by ADB and CWC on 09.06.2023 at New Delhi.

For capacity building under SIMP phase-II, the following activities were organized:

From 6th to 10th November 2023, a five days training on modernization and design of Pipe Distribution Networks (PDN) was organized at Panchkula/ Chandigarh. 22 Engineers from Karnataka, Maharashtra, Haryana, Punjab and CWC participated in the training.
On 15th and 20th December 2023, a Webinar on Irrigation Modernization and Design of PDN Systems was organized.
A Training on Asset Management Planning for Irrigation Schemes was held from 8^th to 12^th January 2024 at WALMI, Aurangabad.
A training on new technologies in Agriculture and Water Practices was held from 22^nd to 25^th January 2024 at HIRMI, Kurukshetra, Haryana.

The Preliminary Project Reports (PPR) of all the four projects has been submitted by ADB to the concerned project authorities. PPR of Loharu, Haryana is under process with Govt department. PPR of Palkhed and Purna, Maharashtra is under process in Planning Department of Haryana, PPR of VVS, Karnataka is under process with state finance Govt of Maharashtra.

PPRs are to be finalized by the states and submitted to DEA. After necessary approval from DEA, action for phase-3 will be taken up for preparation of DPRs.

(x) A Training program on the application of Rapid Risk Assessment tool, in association with the World Bank for the officers of the core group was held during April 22, 2024 – May 3, 2024 at Auditorium, 1st floor, CWC Library Building, Near Sewa Bhawan, Sector-1, R K Puram, New Delhi. Total 66 officials nominated by CWC, NDSA and States / DRIP IAs for taking forward the assignment of carrying out the Rapid Risk Assessment of specified dams in the country.

GLOF and Flood forecasting activities: –

CWC finalized the criteria for Risk Indexing of Glacial Lakes in the Indian Himalayan Region in September 2024, which provide a comprehensive methodology for identifying and categorizing Glacial Lakes based on factors such as Glacial Lake size, Glacial Lake type, Side slope, Snout distance from GL etc. and the potential socio-economic impacts of a Glacial Lake Outburst Flood.

In the year 2024, 2 new stations (Inflow) have started functioning. Currently CWC is providing flood forecast at 340 stations (200-level forecasting stations & 140-inflow forecasting stations). During the period from 1st April to 30.11.2024, 10415 (i.e. 7093 Level and 3322 Inflow) forecasts were issued, out of which 9947 (95.5%) forecasts were found within the accuracy limit (±0.15m for level forecast and ±20% for inflow forecast).During flood season, CWC operates the Central Flood Control Room on 24×7 basis at its headquarter in New Delhi and 36 Divisional Flood Control Rooms spread throughout the country for monitoring flood situation. On an average, about 10,000 forecasts are issued during flood season every year by the CWC. Normally, these forecasts are issued 6 to 30 hours in advance, depending upon the river terrain and location of the flood forecasting sites and their base stations. In addition to conventional flood forecasting techniques, mathematical model forecasting based on rainfall-run off methodology is being used for some areas. This has enabled CWC to issue 7-day advance flood advisory.

Automated online 7-day flood advisory for all the level and inflow forecasting stations is maintained. “Flood Situation for next seven days” in respect of stations likely to be above warning level has been added in the “Daily Flood Situation Report cum Advisory” based on the 7-day advisory.

Flood Plain Zoning

In order to have a reasonable degree of protection, floods need to be managed through both structural & non-structural measures so as to reduce the losses. Non-structural measures are planned activities to modify susceptibility due to flood related damages. These are meant to keep people away from floods. Flood Plain Zoning is one of the main non-structural measures for management of floods worldwide.

A technical committee under the chairmanship of Member (RM) was constituted during November 2022 for formulation of ‘Technical Guidelines on Flood Plain Zoning’ . After due deliberations, the committee submitted the guidelines to Ministry. The guidelines is presently under circulation to the states for their comments/review. Once implemented, these guidelines shall serve as a valuable document in guiding the states in framing their own legislation in protecting their rivers from future encroachments.

Hydrological Studies:

The success of a project is largely governed by the hydrological inputs. The success of a project is largely governed by the hydrological inputs. The Hydrological Studies Organization (HSO), a specialized unit under Design and Research (D&R) Wing of CWC, carries out hydrological studies in respect of the water resources projects in the country. The inputs in Detailed Project Report (DPR) or Pre- Feasibility (PFR) stage are made available in the form of:

Water availability/yield studies.
Design flood estimation.
Sedimentation studies.
Diversion flood studies.

The country has been divided into 7 zones and further into 26 hydro- meteorologically homogeneous sub-zones and flood estimation models are developed for each subzone to compute the design flood in ungauged catchments. So far, flood estimation reports covering 24 sub-zones have been published. During the year 2024- 25, technical examinations of hydrological aspects of DPRs in respect of 88 projects have been carried out in CWC. Out of this, 46 projects have been cleared and comments were issued for 17 projects. Rest of the projects are under examination.

Some of the major works carried out during this period are:

• Flood frequency analysis & carrying capacity of Yamuna River from Hathnikund Barrage to Delhi.

• Hydrology Chapter for Bakchachuu HEP, Ringyang HEP, &RimbiKhola HEP has been submitted.

• 100 yr& 500 yr Return Period flood of Chandrawal River under Ken Betwa Link project.

• Water Availability of the untapped catchment between alignment of feeder canal, Mahalpur barrage and Navnera Barrage Under MPKC link.

Technical Assistance / Advice tendered

HSO has provided secretariat assistance to various technical/ expert committees for undertaking special studies on various aspects related to water resources development and management. Some of the important contributions during the year 2024- 25 are as under:

Hydrological Studies for Ponnaiyar River Basin, to resolve the interstate issue between Tamil Nadu and Karnataka.
Hydrological modeling for heavy rainfall across the Yamuna River catchment in July 2023 caused significant runoff and discharge, leading to rapid water level rises. In this study estimated submergence areas for different return-period floods, analyzed embankment overtopping, and identified drainage congestion and afflux of existing structures using 2-D modeling for the river reach between 21 km upstream of Wazirabad barrage and 10 km downstream of Okhla barrage.

Hydrological modeling for tackling issues related to high intensity rainfall, riverine flood, drainage and interrelated issues in urban areas.

Planning and Design of Water Resources Projects

CWC is actively associated with design of majority of the mega water resources projects in India and neighboring countries, viz., Nepal and Bhutan by way of design consultancy or in the technical appraisal of the projects. At present CWC is provided design consultancy to 94 projects. Out of this, 31 projects (including 3 from neighboring countries) are at construction stage, 35 projects (including 2 from neighboring countries) are at DPR stage and 28 projects involve special problems.

National Committee on Seismic Design Parameters: –

The National Committee on Seismic Design Parameters (NCSDP) was constituted by MoWR Order dated 21 st October, 1991 with the objective to recommend the seismic design parameters for the proposals received from the dam owners. Member (D&R), CWC is the chairman of the committee with 12 other experts from various engineering disciplines from different technical institutions and Government organizations as its members. Director (FE&SA), CWC is the member Secretary of NCSDP. The 38th meeting of NCSDP was held on 10.05.2024 at CWC, New Delhi under the Chairmanship of Member (D&R) wherein six projects were cleared.

Further, a special meeting of NCSDP was held on 05.06.2024 wherein the Guideline for Preparation and Submission Of Site-Specific Seismic Study Report of River Valley Project To National Committee On Seismic Design Parameters was revised comprehensively to be in line with the International practices.

National Register of Large Dams:

Before enactment of Dam Safety Act 2021, Dam Safety Organisation (DSO) , CWC compiled and maintained the register of large dams across the country in the form of National Register of Large Dams (NRLD) based on information provided by State Govts. / PSUs. After enactment of Dam Safety Act 2021, the NDSA has been mandated to maintain National level database of all specified dam in the country. The National Register of Specified (Large) Dams 2023 was released by Hon’ble Vice President of India in International Conference on Dam Safety held during 14th-15th September 2023 at Jaipur. As per NRLD- 2023, there are 6138 constructed and 143 under construction dams in the country. The NRLD, 2023 is available on CWC’s website and can be accessed by l ink- https:// cwc. gov. in/ publication/nrld.

Technical Examination of Instrumentation aspects of the projects:

Hydroelectric project:-

Detailed Project Report (DPR)/ construction drawings of 29 river valley projects in various States/ countries namely Andhra Pradesh, Arunachal Pradesh, Gujarat, Himachal Pradesh, Madhya Pradesh, Meghalaya, Odisha, Sikkim Uttarakhand, West Bengal, Jammu & Kashmir, Bhutan and Nepal were examined, out of which 4 projects have been cleared with respect to instrumentation aspects and remaining 25 projects are at various stages of examination.

Pumped storage Project:-

Detailed Project Report (DPR)/ construction drawings of 42 river valley projects in various States/ countries namely Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Tamil Nadu and Uttar Pradesh were examined, out of which 6 projects have been cleared with respect to instrumentation aspects and for remaining 36 projects, clearance from instrumentation aspects is no longer required as per the latest CEA guidelines.

Standing Technical Advisory Committee of CSMRS

The Standing Technical Advisory Committee (STAC) was constituted under the Chairmanship of Member (D&R), CWC for providing an overall perspective and guidance in technical scrutiny of research schemes being undertaken at CSMRS. The STAC is composed of 11 members drawn from various public sector institutions and is headed by Member (D& R), CWC. The 39th Standing Technical Advisory Committee (STAC) meeting of CSMRS was held on 25.10.2024

Other Seismic works:

Work related to technical evaluation and critical examination of web-based tool Seismic Hazard Assessment Information System (SHAISYS) being developed by IIT Roorkee and CWPRS Pune under DRIP is being carried out. A meeting is proposed on 18th December 2024 under the chairmanship of Member (D&R), CWC with the expert of IIT Roorkee at CWC, New Delhi regarding way forward for development of SHAISYS.

CWC Activities under National Hydrology Project (NHP):

Study on “Physical based Mathematical Modelling for estimation of Sediment Rate and Sediment Transport in Seven River Basin” has been completed.

Extended Hydrological Prediction (multi week forecast) for Yamuna, Narmada and Cauvery basins is in progress.

Reservoir Sedimentation Studies using Hydrographic survey for 32 reservoirs” under Phase-I has been completed. Works of Phase II: Consists of 87 reservoirs in 10 states (Rajasthan, Gujrat, Uttar Pradesh, Uttarakhand, Madhya Pradesh, Maharashtra, Andhra Pradesh, Kerala, Telangana, and Odisha is under progress.
Supply, Installation, Testing & Commissioning (SITC) of 93 Nos. ADCP (14 + 29 + 50 in three phases) for the measurement of discharge at the HO sites of CWC has been completed. Further procurement of additional 46 no’s ADCP and 8 no’s Total station is in under progress.
Supply, Installation, Testing & Commissioning (SITC) of 32 velocity radar sensors for modernization of discharge observations has been completed.
7 no’s of Water Quality Equipment (ICP-MS and GC-MS) have been commissioned and installation & Commissioning of 3 more Water Quality Equipment (1 GC-MS and 2 ICP-MS) is under process.
Consultancy services for “Early Flood Warning System Including Inundation Forecast in Ganga Basin” is in progress.
Consultancy services for Development of Decision Support System near to real time for Integrated Reservoir Operation System of Ganga Basin” has been completed.
Real Time Data Acquisition System (RTDAS) for Narmada Control Authority (NCA) and Arunachal Pradesh comprising of network of 48 & 50 no’s hydro meteorological Stations respectively has been commissioned.
Reservoir Sedimentation Studies using Hydrographic survey for 32 reservoirs” under National Hydrology Project, Phase-I have been completed and reports published and under Phase II studies in respect of 87 reservoirs are taken up.

DAM REHABILITATION AND IMPROVEMENT PROJECT (DRIP) Phase-II and III

Dam Rehabilitation and Improvement Project (DRIP) is an externally aided project with financial assistance from the World Bank, targeting rehabilitation of some of the selected dams of the Country along with accompanying institutional strengthening component.

Dam Rehabilitation and Improvement Project (Phase-II & III):

Based on the success of DRIP Phase- I, Ministry of Jal Shakti initiated another externally funded scheme, DRIP Phase-II and Phase-III. The Union Cabinet has approved the Scheme on October 29, 2020.

The scheme has provision for rehabilitation of 736 dams located in 19 States (Andhra Pradesh, Chhattisgarh, Goa, Gujarat, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, West Bengal, and three Central Agencies (Central Water Commission, Bhakra Beas Management Board, and Damodar Valley Corporation). It is a State Sector Scheme with Central component, with duration of 10 years, to be implemented in two Phases i.e. Phase- II and Phase-III, each of six years duration with an overlap of two years. The budget outlay is Rs 10,211 Cr (Phase II: Rs 5107 Cr; Phase III: Rs 5104 Cr) with rehabilitation provision of 736 dams. Out of this cost, Rs. 7,000 crore is an external loan and Rs. 3,211 crores would be borne by the respective participating States and the three Central agencies. The funding pattern of scheme is 80:20 (Special Category States), 70:30 (General Category States) and 50:50 (Central Agencies). The scheme also has provision of Central Grant of 90% of loan amount for special category States (Manipur, Meghalaya and Uttarakhand). The DRIP Phase-II and III Scheme is 10 years duration, proposed to be implemented in two Phases, each of six-year duration with two years overlapping. Each Phase has external assistance of US$ 500 M. The Phase-II of the scheme is being co-financed by World Bank and Asian Infrastructure Investment Bank (AIIB), with funding of US$ 250 million each. The loan agreement by World Bank was signed on August 04, 2021 with 10 States (Gujarat, Kerala, MP, Maharashtra, Manipur, Meghalaya, Rajasthan, Odisha, Tamil Nadu, and Chhattisgarh) and became effective from 12th October, 2021. In addition to 10 States, four States (Uttarakhand, Uttar Pradesh, West Bengal and Karnataka) have been notified by World Bank for inclusion under this scheme in June 2022 and their loan declared effective in January 2023.

The loan agreement by AIIB was signed on 19th May, 2022 with 10 States (Gujarat, Kerala, MP, Maharashtra, Manipur, Meghalaya, Rajasthan, Odisha, Tamil Nadu, and Chhattisgarh) and declared effective on 29th December, 2022 by AIIB.

Inclusion of four States (Andhra Pradesh, Goa, Punjab, Telangana) and two Central Agencies (BBMB and DVC) is under process.

Important project achievements include approval of PSTs of 139 dams costing Rs 3715 Cr by the World Bank. The contract(s) amounting approximately Rs 2906 Cr have been awarded by various Implementing Agencies and an amount of Rs 1487 Cr spent as on 30.11.2024 on various project activities including dam rehabilitation, institutional strengthening and project management activities

A training on DRIP Ph-II &Ph-III was given to 40 officers of Punjab WRD on 12th June 2024 at Shahpur Kandi. Few topics were covered like Overview of DRIP Ph-II &Ph-III scheme; dam structural problems & their identification; Procurement procedures; Hydro-Mechanical structural problems; PST preparation; Financial Management of DRIP scheme etc.

A three days training on DFR organized during 8th to 10th July, 2024, in which 22 participants from seven (7) states and CWC participated.

The Management Information System (MIS-with 05 modules) was officially rolled out to SPMU on 14^th August 2024. In this regard a virtual MIS demonstration was organized on 14th August 2024 in which concerned officials of CPMU, SPMU, and EMC participated.

2^nd meeting of National Level Steering Committee (NLSC) on DRIP Phase-II and III chaired by Secretary, DoWR, RD and GR were held on 25.09.2024 at New Delhi to discuss the progress and issues of DRIP Scheme.

3^rd meeting of Technical Committee of DRIP Phase II and III was held on 18.10.2024 under the chairmanship of Member (D&R), CWC at Dehradun, Uttarakhand in which nodal officer and Project Director of DRIP IAs participated. Deliberations in respect of technical matters with regard to pertaining to implementation of the scheme were held during the meeting.

National Task Force for Integrated Water Resources Development and Management

National Task Force for Integrated Water Resources Development and Management (NTFIWRDM) has been set up by DoWR, RD & GR vide its OM dated 25.11.2024.

Sustainable development of water resources and its efficient management is the key to water security and economic growth. As a country, aspiring to be the world leader with the most powerful economy, challenges like increasing population, economic growth, industrialization and urbanization are bound to result in increased and conflicting demands for various purposes across the country. Moreover, the vagaries of climate change have already started to affect the water sector adversely. In the wake of ever-growing challenges in the water resources sector, it has become necessary to prospectively assess the projected water use for various purposes. In view of above, Department of Water Resources, RD & GR has set up a National Task Force for Integrated Water Resources Development and Management (NTFIWRDM) on 25.11.2024 under the chairmanship of Hon’ble Member, Niti Aayog with members from various Govt. Departments and experts from different organisations; thereby comprehensively covering various domains of water resources. Chief Engineer, BPMO, CWC is the Member Secretary of the NTFIWRDM. The NTFIWRDM – 2024 is expected to complete its work within 24 months, with interim reports submitted at yearly intervals.

(xxii) LIST OF IMPORTANT PUBLICATIONS OF CWC during 2024

Sl. No.	Publication	Released during
1	Water Sector at a Glance-2022	Aug-2024
2	Water & Related Statistics-2023	Sept-2024
3	Water Sector at a Glance-2023	Sept-2024
4	National Register of Major & Medium Irrigation Projects in India-2024	Sept-2024
5	Compendium on Sedimentation of Reservoirs in India	August 2024
6	Assessment of Area Affected Due to Floods in India	July 2024
7	Report on Flood Damage Statistics (1953-2022)	July 2024
8	Assessment of Area Affected Due to Floods in India [Part II: Assessment at Sub-District Level]	September 2024
9	Criteria for Risk Indexing of Glacial Lakes in Indian Himalayan Region	September 2024
10	Status Report on Coastal Area Management – An Indian Perspective, Regional Issues & Remedial Measures	September 2024

Central Ground Water Board (CGWB):

National Aquifer Mapping and Management Programme (NAQUIM)

Central Ground Water Board (CGWB) is implementing National Aquifer Mapping and Management program (NAQUIM), which envisages mapping of aquifers (water bearing formations), their characterization and development of Aquifer Management Plans to facilitate sustainable management of ground water resources. Out of 32 lakh sq km of the entire country, entire mappable area of 25 sq lakh km has been covered under this programme. NAQUIM outputs are shared with various stakeholders including the District Authorities. Building on the experiences of the NAQUIM, the NAQUIM 2.0 has been initiated from the year 2023-24 which emphasizes on detailed mapping and implementable management plans for identified priority areas. CGWB has completed 68 such studies (covering nearly 40,000 sq km) in year 2024.

In order to create infrastructure for data generation under NAQUIM, a Project has been approved by the Public Investment Board (PIB) with an outlay of Rs 805 Cr for implementation by CGWB during the period 2022-2026. As of now, tenders amounting approximately Rs. 550 Cr have been awarded.

One of the components of the project involves the construction of 7000 piezometers and the installation of Digital Water Level Recorders with telemetry devices for strengthening and automation of groundwater monitoring networks in the country. Construction of piezometers for strengthening groundwater monitoring has been initiated in 15 states (Andhra Pradesh, Telangana, Tamil Nadu, Kerala, Gujarat, Maharashtra, Rajasthan, MadhyaPradesh, Chhattisgarh, UttarPradesh, Bihar, Jharkhand, WestBengal, Odisha and Jammu&Kashmir). A total of 1796 piezometers have been constructed till 31st December 2024.

Another component of the project involves construction of 1135 Exploratory Wells (EW) and Observation Wells (OW) for completing the data gap in the NAQUIM project area for which work has been initiated under all awarded packages in 11 states (Andhra Pradesh, Karnataka, Gujarat, Rajasthan, Madhya Pradesh, Chhattisgarh, Uttar Pradesh, Bihar, West Bengal, Odisha, Assam). A total of 319 EW/OWs have been constructed till 31st December 2024.

Ground Water Resources

The Ground Water Resource Assessment for the water year 2024 was carried out jointly by Central Ground Water Board (CGWB) and States/UTs, through the web-based automated application “INDIA-GROUNDWATER RESOURCE ESTIMATION SYSTEM (IN-GRES) for the entire country. The assessment provides the state wise ground water resource scenario and insights required to adopt an integrated and sustainable ground water management in the Country.

As per the assessment, the total annual groundwater recharge in the country has been assessed as 446.90 billion Cubic Meter (BCM). The annual extractable ground water resource has been assessed as 406.19 BCM. The annual groundwater extraction for all uses is 245.64 BCM. The average stage of groundwater extraction for the country stands at 60.47 %. Out of the total 6746 assessment units (Blocks/ Mandals/ Talukas) in the country, 4951 (73.4 %) assessment units are categorized as ‘Safe’. 711 (10.5 %) assessment units are categorized “Semi-critical’’, 206 (3.05 %) assessment units, have been categorized as ‘Critical’ and 751 (11.1%) assessment units have been categorized as ‘Over-exploited’. Apart from these, there are 127 (1.8%) assessment units, which have been categorized as ‘Saline’ as major part of the ground water in phreatic aquifers in these units is brackish or saline.

Key Highlights:

Total Annual GW Recharge has increased (15 BCM) substantially and Extraction has declined (3 BCM) in 2024 from 2017 assessment. There is slight reduction in recharge and increase in extraction in the present assessment year compared to the preceding year.
Recharge from Tanks, Ponds and WCS has shown a consistent increase in the last five assessments. In the year 2024, it has increased by 0.39 BCM w.r.t. 2023.
With respect to the year 2017, there is an increase of 11.36 BCM in recharge from Tanks, Ponds & WCS (from 13.98 BCM in 2017 to 25.34 BCM in 2024).
The percentage of Assessment Units under Safe Category have increased from 62.6% in 2017 to 73.4 % in 2024 (The percentage of Safe assessment units was 73.14 % in 2023).
The percentage of Over Exploited Assessment units have declined from 17.24 % in 2017 to 11.13 % in 2024 (The percentage of OE Assessment units was 11.23% in 2023)

The Union Minister for Jal Shakti released “National Compilation of Dynamic Ground Water Resources of India 2024” on 31^st December, 2024.

High resolution aquifer mapping and management in Arid areas of India

The Central Ground Water Board (CGWB) has undertaken high resolution aquifer mapping in the arid regions of Rajasthan, Gujarat, and Haryana using advanced heliborne geophysical surveys. Under Phase I of the project, an area of 97,637 sq. km has been surveyed, covering 40,313-line km across 92 blocks in these states.
Based on the heliborne geophysical survey results, Gram Panchayat-level information of saturated/de-saturated, saline/fresh aquifers, groundwater potential zones, drilling sites, and managed aquifer recharge sites has been identified. Detailed reports have been prepared for 39 out of 92 blocks, comprising 20 blocks in Gujarat, 11 in Rajasthan, and 8 in Haryana.
A Coffee Table Book on the Summary of the findings of Heliborne Survey Phase I was released on 19.09.2024 in India Water Week-2024 at Bharat Mandapam, New Delhi by the Hon’ble Minister of State, Jal Shakti.

Artificial Recharge Activities

Groundwater augmentation through artificial recharge in identified water stressed areas of Rajasthan, comprising Jodhpur, Jaisalmer, Alwar, Jhunjhunu & Sikar districts of Rajasthan has been taken up in three phases

Phase-1: Two large dams have been constructed:
- Zoned Earth Fill Dam with Clay Core, Indroka, Mandore, Jodhpur
- Concrete Gravity Dam, Bastawa Mata, Balesar, Jodhpur.
Phase-2: 82 WHS (Stone Masonary Check Dams (MCD), Anicuts, Concrete Check Dams (CCD & Recharge shafts) have been constructed in certain water stressed blocks of Jodhpur, Jaisalmer and Sikar district.
Phase-3: 39 WHS (Check Dam, Anicut, Model Talab) have been constructed certain water stressed blocks in Jodhpur, Jaisalmer, Sikar, Jhunjhunu and Alwar districts of Rajasthan to know the concentrated effect of artificial recharge.

Regulation of Ground Water extraction

The primary role of Central Ground Water Authority (CGWA) is to regulate groundwater resource exploitation in the country. The Authority has been regulating groundwater development and management by way of issuing ‘No Objection Certificates’ for groundwater extraction to industries, infrastructure projects, Mining Projects, registration of drilling rigs etc., and framed guidelines in this connection.

Development of a new portal for NoC issuance to ground water users i.e. BhuNeer APP, which is an advanced version of the application processing software of CGWA for issuing NOC to ground water users of Industries, Infrastructure & Mining projects and Bulk Water Supply. The motto of developing this portal is to provide users a smooth experience with new features and functionalities.

Rajiv Gandhi National Ground Water Training & Research Institute (RGNGWTRI)

It is the training wing of CGWB and functions as a `Centre of Excellence’ with the national role of capacity building of Officers and Officials of CGWB, other Central Govt. Depts., State Govt. Depts., Public Sector Undertakings, Non-Governmental Organizations, Academic institutions and other stake holders through three arms -Tier I (National Level), Tier II (State Level) and Tier III (Block level) trainings.

During the last 10 years, from 2012-13 to 2024-25(As on 24.12.2024) a total of 1711 training courses (Tier-I, Tier-II & Tier-III) were organized (Male 83,330 + Female 30,369 = 1,13,699 Participants) by RGNGWTRI, Raipur.
The institute has also conducted Four trainings for foreign nationals, during the last 10 years

Development of three Indigenous Softwares as part of Smart India Hackathon (SIH) 2022- a significant step towards Atmanirbhar Bharat

Smart India Hackathon (SIH), a nationwide initiative envisioned under the leadership of Hon’ble Prime Minister is an important mega annual event among students to provide solutions through innovations for specific challenges identified by different organizations. It is an annual event organized by the Ministry of Education’s Innovation Cell, All India Council for Technical Education, along with partners. Based on problem statements shared by CGWB and under the mentorship of CGWB scientists, following three software applications were developed by engineering students as a part of Smart India Hackathon (SIH)

Hydra-Q: A Standalone desktop application for analysis, visualization and interpretation of hydrochemical data.
Aqua Probe: A Standalone desktop application for Pumping Test data analysis.
OASIS-G: Online application System for Stable Isotope Studies-Ground Water

The software applications can be accessed / downloaded from CGWB website (https://www.cgwb.gov.in/freewares-groundwater-data-analysis).

These freeware applications will be useful for students, researchers and groundwater professionals. So far, the software that are used for such kind of analysis are developed mostly in countries other than India. This is a significant step towards Atmanirbhar Bharat and is likely to reduce India’s dependence on foreign software.

Aquifer Management for Augmentation and Sustainability of Urban Water Supply- Faridabad

CGWB has taken up a study on augmentation of water supply to Faridabad city through sustainable ground water development in active Yamuna flood plain in 2024. CGWB has signed MoU with Faridabad Metropolitan Development Authority (FMDA)

Ground Water Quality Analysis

The comprehensive assessment of Ground Water Quality conducted by the Central Ground Water Board (CGWB) provides valuable insights that can guide remedial actions and inform future planning by various stakeholders. Notably, this report on Ground Water Quality is the first to implement a Standard Operating Procedure (SOP) for groundwater quality monitoring, which ensures consistency in data collection, analysis, and interpretation. Additionally, the use of internationally recognized methods significantly bolsters the credibility and technical rigor of the findings. On December 31, 2024, Sh. CR Paatil, Hon’ble Union Minister of Jal Shakti, unveiled the Annual Groundwater Quality Report, 2024.

Key Highlights:

In terms of cation chemistry, calcium dominates the ion content, followed by sodium and potassium. For anions, bicarbonate is the most prevalent, followed by chloride and sulphate. This indicates that overall water in the country is of Calcium-Bicarbonate type.
Some regions face sporadic contamination of nitrates, fluoride, and arsenic.
Seasonal trends observed in parameters like Electrical Conductivity (EC) and fluoride provide evidence of positive monsoon recharge effects, which improve water quality.
From an agricultural perspective, the analysis of Sodium Adsorption Ration (SAR) and Residual Sodium Carbonate (RSC) reinforces the generally favorable suitability of groundwater for irrigation, with over 81% of samples meeting safe thresholds. However, localized issues of high sodium content and RSC values demand targeted interventions to prevent long-term soil degradation.
100% of ground water samples in North-Eastern States are in excellent category for irrigation.

Pradhan Mantri Krishi Sinchayee Yojana (PMKSY)

Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) for 2021-26 with an outlay of ₹93,068 Crore to benefit about 22 lakh farmers

Against a target of 34.63 Lakh Ha irrigation potential of 25.80Lakh Ha (approx.74.5%) created through AIBP works of the prioritized projects during 2016-17 to 2023-24
Nine (09) new MMI projects and two (02) new National projects have been further included under PMKSYAIBP.

Pradhan Mantri Krishi Sinchayee Yojana (PMKSY)- Accelerated Irrigation Benefit Programme (AIBP):

The Government of India on 27.07.2016 approved funding of the 99 prioritized irrigation projects (and 7 phases) with an estimated balance cost of Rs. 77,595 Crore (Central share- Rs. 31,342 crores; State share- Rs. 46,253 crores) for completion in phases. The works include both the AIBP and CAD works. Funding arrangement for both Central Assistance (CA) and State Share made through NABARD under Long Term Irrigation Fund (LTIF). Targeted Irrigation Potential to be created under the scheme is 34.63 Lakh ha. An expenditure of Rs. 68891 crore (upto March 2024) has been reported to be incurred by the concerned State Governments on these projects since 2016-17. In January 2020, Ministry of Finance conveyed the continuation of ongoing centrally sponsored scheme up-to 31.03.2021.

Physical Progress: Against the target of 34.63 Lakh Ha. Irrigation Potential of about 25.80 Lakh ha. has been created through AIBP works of the prioritized projects during 2016-17 to 2023-24. The potential created during 2024-25 shall be available only after the end of cropping season.

Project Completed under PMKSY-AIBP: AIBP works of 62 prioritized projects out of identified 99 projects (and 7 phases) were reported to be completed till date.

The Government of India has approved implementation of Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) for 2021-26 with an outlay of ₹93,068 Crore on date 15-Dec-2021 to benefit about 22 Lakh farmers. The Union Cabinet has approved central support of ₹37,454 Crore to States and ₹20,434.56 Crore of debt servicing for loan availed by Government of India for irrigation development during PMKSY 2016-21. Accelerated Irrigation Benefit Programme, ‘Har Khet Ko Paani’ and Watershed Development components have been approved for continuation during 2021-26. Total additional irrigation potential creation targeted during 2021-26 under AIBP is 13.88 Lakh hectare. Apart from focused completion of 60 ongoing projects including their 30.23 lakh hectare command area development, 9 additional projects have been taken up till date. Also, two national projects, namely Renukaji Dam Project (Himachal Pradesh) and Lakhwar Multipurpose Project (Uttarakhand) have also been included for central funding of 90% of works of water component under the scheme.

Inclusion of new Major/Medium Irrigation (MMI) projects as well as funding of National Projects under AIBP.

Financial progress requirement is dropped for inclusion of a project underAIBPand only physical progress of 50% to be considered.

Advanced stage (50% physical progress) criteria are relaxed for projects having command area of 50% or more in Drought Prone Area Programme (DPAP), tribal, Desert Development Programme (DDP), Flood prone, Tribal area, Flood prone area, left wing extremism affected area, Koraput, Balangir and Kalahandi (KBK) region of Odisha, Vidarbha& Marathwada regions of Maharashtra and Bundelkhand region of Madhya Pradesh & Uttar Pradesh, as also for Extension Renovation Modernization (ERM) projects and also for States with net irrigation below national average.

Reimbursement is allowed for due central assistance in subsequent year also.

Project completion permitted with physical progress of 90% or more.

Online Management Information System (MIS) has been developed for monitoring of the projects. A nodal officer for each of the 99 priority projects has been identified who updates the physical and financial progress of the project regularly in the MIS.

GIS based Application has been developed for geo-tagging of project components. Remote Sensing Techniques have been used for digitization of the canal network of the projects. Further, the Cropped Area estimation in the command of 99 priority projects is being carried out annually through remote sensing.

To resolve the issue of Land Acquisition (LA) and increase water conveyance efficiency, use of Underground Pipeline (UGPL) has been actively promoted. Guidelines for Planning and Design ofPiped Irrigation Network were released by this Ministry in July, 2017.

Pari-passu implementation of Command area development works in the commands of these projects is envisaged to ensure that the Irrigation Potential Created could be utilized by the farmers. New Guidelines bringing focus on Participatory Irrigation Management (PIM) have been brought out. Further, transfer of control and management of irrigation system to the Water Users’ Association (WUA) has been made necessary condition for the acceptance of CADWM completion.

The Financial Progress under PMKSY-AIBP is as follows:

Funds Released	2016-17 to 2023-24	2024-25 (so far)	Total
Central Assistance for AIBP projects including special and National Projects	18550.98	629.22	19180.20
State Share	33830.83	180.60	34011.4
Total	52,381.81	809.82	53191.6

Special Package for Maharashtra: A Special Package approved on 18.07.2018 which provides Central Assistance to complete 83 Surface Minor Irrigation (SMI) projects and 8 Major / Medium Irrigation Projects in drought prone districts in Vidarbha and Marathwada and rest of Maharashtra in phases up to 2023-24 (extended till March-25). The overall balance cost of the said projects as on 1.4.2018 is estimated to be Rs.13651.61 Crore. Total CA is estimated to be Rs. 3831.41 Crore including reimbursement for expenditureduring 2017-18Balancepotentialof 3. 77 Lakh Ha would be created on completion of these schemes. CA of Rs. 2901.63 crores have been released under the scheme so far. Under the scheme, 53 SMI and 2 MMI projects have been reported to be completed by the State Government of Maharashtra. Overall irrigation potential of 1.66 Lakh ha. has been reported to be created through all these projects during 2018-19 to 2023-24. Further potential created during 2024-25 shall be available only after the end of cropping season.

Modernization of Command Area Development & Water Management (M-CADWM):

The Ministry of Jal Shakti is reviewing the CADWM programme to make it more relevant in the current context of water use efficiency and agricultural productivity. The proposed change is a proposed smart irrigation scheme which envisages transforming the existing command (whether rain fed or gravity based) to a Pressurized Piped Irrigation Command (PPIC) by providing pressurized irrigation water from Established source to Farm Gate below Minor (Tertiary) Level Network. This will make the entire command area micro-irrigation ready with robust back-end infrastructure using Surface Water. The farmers shall be empowered by creating a Water User Society, which will also be an “economic entity”.

The Scheme will develop suitable models for different Agro-Climatic zones, integrating various sources of water, and different levels of water availability, covering both areas of assured irrigation and protected irrigation. These models will pave the way for development of a National Plan for Modernization of water management in rural area in general and irrigation services in particular based on integrated, sustainable, efficient and inclusive water management.

Polavaram Irrigation Project: Polavaram Irrigation Project was declared as National Project under Section 90 of AP Reorganization Act, 2014, which came into force on 1^st March 2014. The project with 2467.50 m of earth-cum-rock fill dam and 1121.20 m long spillway aims at irrigating 2.91 Lakh ha in erstwhile East Godavari, Visakhapatnam, West Godavari and Krishna districts besides several other benefits envisaged by it. Central Government is funding 100% of the remaining cost of the irrigation component of the project, as on 01.04.2014. Government of Andhra Pradesh is executing the irrigation component of the project on behalf of Government of India. The approved cost of the Project as per Revised Cost Committee (RCC) is Rs 29,027.95 cr at 2013-14 PL and Rs 47,725.74 cr at 2017-18 PL up to FRL i.e. EL +45.72 m. After declaration as National Project, a sum of Rs. 15,605.96 cr has been released for execution of Polavaram Irrigation Project so far.

The Union Cabinet has approved the revised cost of the PIP in its meeting held on 28.08.2024, with water storage upto EL + 41.15 m at a cost of Rs. 30,436.95 cr with balance central grant for the project limited to Rs. 12,157.53 cr. Further, an amount of Rs. 2,348 cr has been released on 09.10.2024 as advance payment to GoAP on account of execution of Polavaram Irrigation Project in addition to the reimbursement of Rs 15,605.96 cr made to GoAP.

As reported by Water Resource Department, Government of Andhra Pradesh, an expenditure of Rs 18,348.84 cr has been incurred on the project works up to 30.11.2024, after declaration of Polavaram irrigation project (PIP) as National Project.

Atal Bhujal Yojana (Atal Jal)

Atal BhujalYojana (Atal Jal) is a Central Sector Scheme of Government of India with an outlay of Rs 6000 Crore, with focus on community participation and demand side interventions for sustainable ground water management in identified water stressed areas in 8203 water stressed Gram Panchayats of 229 administrative blocks/Talukas in 80 districts of seven States in the country viz. Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh. The scheme, partly funded by the World Bank, is being implemented from 1.04.2020 for a period of 6 years.

This unique scheme aims at increasing the capacity of States to manage their ground water resources and for ensuring their long-term sustainability with active participation of the local communities through a mix of top-down and bottom-up approaches. It also envisages convergence of various ongoing schemes for implementation of interventions for improving ground water availability with emphasis on demand management and also to inculcate behavioral changes in the community to ensure optimal use of available water resources.

The launch of Atal Bhujal Yojana heralds a change in the Government policy for ground water management by emphasizing the importance of community participation in planning, execution, and monitoring of scheme activities; convergence of ongoing schemes for implementing interventions aimed at improving ground water availability; focus on demand side management through improving water use efficiency and incentivizing participating States for awareness creation among the masses on the importance of ground water.

Atal Bhujal Yojana also envisages improving the capacity of States for ground water governance through strengthening of institutions dealing with ground water management, improving ground water monitoring networks, creation of awareness among the public on the importance and criticality of ground water resources and building the capacity of the grass root level stakeholders to plan and utilize the available resources in a judicious manner. It also addresses the gender perspective by making it mandatory to include women in all activities of the scheme.

Atal Bhujal Yojana is expected to improve ground water conditions in the target areas and to contribute significantly to ensure ground water sustainability for interventions planned under the Jal Jeevan Mission (JJM). It is also expected to contribute to the Hon’ble Prime Minister’s goal of doubling farmers’ income and to result in optimal use of ground water by the stakeholders in the long-run.

Further, to bridge the gap in the data availability at the GP level for better water management across India, Department of Water Resources, River Development & Ganga Rejuvenation in collaboration with Ministry of Panchayati Raj has taken the initiative to expand water budgeting exercise to non-Atal Jal areas as well by their inclusion in the Gram Panchayat Development Plans (GPDPs).

Key achievements under Atal Bhujal Yojana are as follows:

Public disclosure of data in all the Atal Jal GPs through various modes of disclosure viz., central/state web portals, display board at each GP, social media, wall paintings, distribution of pamphlets/brochure, public meetings and Atal Jal Mobile application.
States have used innovative measures like Groundwater Data Information Dissemination Centers, QR codes, social media, etc., to disseminate the groundwater related data to public.
Community led Water Budget and WSPs prepared for all the 8203 GPs and updated on yearly basis.
Groundwater monitoring system has been strengthened at GP level by providing equipment like Digital Water Level Recorders, water level indicators, rain gauges, water quality testing kits, water flow meters etc. In addition, piezometers have been constructed in GPs for monitoring of water levels.
A total of 49 State level, 410 District level, 1152 Block level and 99,406 GP level trainings have been conducted so far.
Awareness and sensitization at GP level through innovative Information Education and Communication practices like narrowcasting in Haryana, folk dances/songs in Karnataka, Jal dindis in Maharashtra, Ratri Choupals in Rajasthan have been used to drive the message of sustainable groundwater management.
Investment of Rs. 4355 Crore towards implementation of interventions proposed under WSPs through convergence.
An area of around 6.7 lakh Hectares has been brought under efficient water use practices including Drip, Sprinkler, Mulching, Crop Diversification etc.
More than 70,000 wells are being monitored for water level at GP level and shared with community.
More than 90,000 existing Water Conservation and Artificial Recharge structures have been mapped.
813 GPs in 47 Blocks have shown improvement in ground water level.
A total of Rs.3420.57 Cr. has been disbursed to the States since the inception of the scheme. A total of Rs.2863.98 Cr. has been utilized by the States since the inception of the scheme.
Sixth meeting of National Level Steering Committee (NLSC) for implementation of Atal Bhujal Yojana was held on 07 June 2024.

Minor Irrigation Statistics: Progress under the scheme “Irrigation Census”:

Minor Irrigation Census conducted quinquennially in order to create a sound and reliable database on groundwater and surface water minor irrigation schemes in the country. The Minor Irrigation Census is conducted under the centrally sponsored scheme “Irrigation Census” with 100% central funding through which State Statistical Cells constituted under different States/UTs are also supported.

The sixth Minor Irrigation Census and the first Census of Water bodies covering all water bodies in the country, both rural and urban have been completed. All India and State-wise report on 6^th Minor Irrigation Census and First Census of Water Bodies has been published and are available at the Department website ‘https://jalshakti-dowr.gov.in’. Key results have been disseminated on Bhuvan portal and the state wise unit level data has also been disseminated on Open Government Data (OGD) platform.

During 2024, the following progress under the scheme “Irrigation Census” has been achieved:

7^th Minor Irrigation Census and 2^nd Census of Water Bodies are underway, along with two new censuses: the 1^st Census of Springs and the 1^st Census of Major and Medium Irrigation Projects, with reference year 2023-24.
An all-India Workshop on these Censuses was held in 2023, with participation from all States and Union Territories. NIC has developed a mobile/web application for these censuses, with pilot testing successfully conducted in Uttarakhand, Himachal Pradesh, Odisha, and Meghalaya in month of October, 2024.
Six regional workshops for training of trainers for upcoming censuses are being conducted at regional centers in Tripura, Karnataka, Uttar Pradesh, Haryana, Rajasthan, and West Bengal from December, 2024 to January, 2025 to provide training to trainers at State level for further capacity building.
Grands-in-aid to States/UTs were released timely on receipt of proposals from eligible States/UTs.

Flood Management Wing (FM):

Flood Management and Border Areas Programme (FMBAP):

The “Flood Management Programme (FMP)” and “River Management Activities and Works related to Border Areas” (RMBA) under operation during XII Five Year Plan were merged as “Flood Management and Border Areas Programme” (FMBAP) for the period 2017-18 to 2019-20 and further extended up-to March, 2021. Cabinet further approved the continuation of FMBAP scheme during 2021-22 to 2025-26 with an outlay of Rs. 4100 Crore (FMP-Rs. 2940 Crore and RMBA – Rs. 1160 Crore).

Since the inception of FMBAP (till December 2024), Central Assistance of Rs. 7136 crores have been released to States/UTs under FMP component of Flood Management & Border Area Programme (FMBAP) scheme and Central Assistance of Rs. 1258.73 crores have been released to UTs/States under RMBA component of FMBAP scheme.

Completion of balance works of North Koel Reservoir Project: DoWR, RD & GR has taken up the long pending project for completion of balance works of North Koel Reservoir Project, Bihar and Jharkhand. In August, 2017 the Union Cabinet has approved the proposal for balance works of North Koel Reservoir Project at an estimated cost of Rs. 1622.27 crore during three financial years from the start of the project. Subsequently, at the request of both State Governments, certain other components were found necessary to be included in the project. Complete lining of Right Main Canal (RMC) and Left Main Canal (LMC) was also regarded essential from technical considerations to derive envisaged irrigation potential. Thus, the works of Gaya distribution system, lining of RMC and LMC, remodeling of enroute structures, construction of a few new structures and onetime Special Package for R&R of Project Affected Families (PAFs) were to be provided for in the updated cost estimate. Accordingly, Revised Cost Estimate of the project was prepared. Out of the cost of balance works of Rs. 2430.76 crore, the Central would provide Rs.1836.41 crore. The Cabinet Committee on Economic Affairs has given its approval to the proposal to complete the balance works of North Koel Reservoir Project at a revised Cost of Rs. 2,430.76 crore on 04.10.2023. Project will provide irrigation benefit to 114,021 hectares of land annually in drought prone areas of Aurangabad and Gaya districts of Bihar and Palamau and Garwa districts of Jharkhand. Project also has the provision for supply of 44 MCM water for drinking and industrial water supply. The execution of balance works of the project on turnkey basis by M/s WAPCOS Ltd., a CPSU under DoWR, RD & GR as Project Management Consultant (PMC). 10% works on dam & appurtenant, 100% of additional works of Mohammad Ganjbarrage, 86% works on left main canal and works on Right Main Canal in Jharkhand Portion & 18% works on Bihar portion have been completed.

India and Bangladesh Matters

A Treaty was signed by the Prime Ministers of India and Bangladesh on 12th December, 1996 for the sharing of Ganga/Ganges waters at Farakka during the lean season. As per the Treaty, the Ganga/Ganges waters is being shared at Farakka (which is the last control structure on river Ganga in India) during lean period, from 1^st January to 31^st May every year, on 10-daily basis as per the formula provided in the Treaty. The validity of Treaty is 30 years. The sharing of water as per the Treaty is being monitored by a Joint Committee headed by Members, JRC from both sides. The following India-Bangladesh Joint Committee Meetings have been convened.

The 83^rd meeting of the Joint Committee on sharing of the Ganga/Ganges waters at Farakka was held at Dhaka on 24^th January, 2024 after a visit to the joint observation site at Hardinge Bridge, on 24th January, 2024.
The 84^th meeting of the Joint Committee on sharing of the Ganga/Ganges Waters at Farakka was held at Kolkata on 7^th March, 2024 after visit to the joint observation sites at Farakka on 5^th March, 2024.
The 85^th meeting of the Joint Committee on sharing of the Ganga/ Ganges waters at Farakka was held at Dhaka (Bangladesh) on 14^th November, 2024 for the finalization of Annual Report of the lean/dry season of the year 2024.

During the 83^rd and 84^th Joint Committee meetings, the Indian delegation was led by Mr. Atul Jain, Commissioner (FM), Department of Water Resources, River Development and Ganga Rejuvenation Ministry of Jal Shakti. During the 85th Joint Committee meeting, the Indian delegation was led by Mr. Sharad Chandra, Commissioner (FM), Department of Water Resources, River Development and Ganga Rejuvenation, Ministry of Jal Shakti, Government of the Republic of India and Member, India-Bangladesh Joint Rivers Commission. The Bangladesh delegation was led by Dr. Mohammad Abul Hossen, Member, India-Bangladesh Joint Rivers Commission, Ministry of Water Resources, Government of the People’s Republic of Bangladesh.

National River Conservation Directorate (NRCD)

Cleaning of river is a continuous process and Government of India is supplementing the efforts of the State Governments in addressing the challenges of pollution of rivers by providing financial and technical assistance. Assistance is provided to State Governments for abatement of pollution in identified stretches of various rivers (excluding river Ganga and its tributaries) under the Centrally Sponsored Scheme of National River Conservation Plan (NRCP) on cost sharing basis between the Central & State Governments for taking up various pollution abatement works relating to interception & diversion of raw sewage, construction of sewerage systems, setting up of sewage treatment plants, low cost sanitation, river front/bathing ghat development, etc.

Project for ‘Pollution Abetment River Banganga at Katra’ in Jammu & Kashmir at a cost of Rs.92.10 crore was sanctioned.
Project for ‘Pollution Abetment and Conservation of river Mindhola at Surat’ in Gujarat at a cost of Rs.98.51 crore was sanctioned.
Project for ‘Interception & Diversion of Sewerage Water from Existing Drains to Nearest STP for Treatment Purposes in Jodhpur City for Pollution Abatement of River Jojari at Jodhpur’ in Rajasthan at a cost of Rs.13.10 crore was sanctioned.
Project for ‘Sewer rehabilitation of old and deteriorated pipes by Trenchless CIPP Technology for main trunk sewer lines heading towards Nandari and Salawas STPs for pollution abatement of Jojari River at Jodhpur’ in Rajasthan at a cost of Rs.51.99 crore was sanctioned.
Project for ‘Design of Complete Sewerage System and Proposal of Development of New STP for Jhalamand Area, Jodhpur for pollution abatement of river Jojari at Jodhpur’ in Rajasthan at a cost of Rs.53.63 crore was sanctioned.
Project for ‘Establishing and Commissioning of 30 MLD Sewage Treatment Plant (STP) at Nandari for pollution abatement of river Jojari at Jodhpur’ in Rajasthan at a cost of Rs.53.86 crore was sanctioned.
Project for ‘Rejuvenation of Imphal-Manipur River and Faecal Sludge and Septage Management at 27 ULBs’ in Manipur at a cost of Rs.92.39 crore was sanctioned.
Project for ‘Elamkulam sewerage project for rejuvenating Chitrapuzha River through restoration of natural streams/outfalls carrying sewage/pollutants-Construction of STP 17.5 MLD’ in Kerala at a cost of Rs.47.53 crore was sanctioned.
Project for ‘Perandoor Sewerage Project for Rejuvenating Periyar River through Restoration of Natural Streams/Outfalls Carrying Sewage/Pollutants—Construction of 19 MLD STP (Part 1)’ in Kerala at a cost of Rs.49.78 crore was sanctioned.
Project Management Consultant has been appointed for implementation the project of ‘Pollution abatement and conservation of River Nag at Nagpur, Maharashtra’ sanctioned at a cost of Rs.1,926.99 crore with Japan International Cooperation Assistance.
Project for pollution abatement of river Devika and Tawi at Udhampur, Jammu & Kashmir sanctioned for Rs.186.74 crore has been completed 3 sewage treatment plants (STPs) with total capacity of 13.06 mld constructed under NRCP.
Project for pollution abatement of river Tapi at Surat, Gujarat sanctioned for Rs. 971.25 crore has been completed 11 sewage treatment plants (STPs) with total capacity of 208.97 mld constructed under NRCP.
Central Assistance amounting to Rs. 425 crores released to various State Governments/Agencies for implementation of projects under NRCP.
Stakeholder Consultation Workshop on Guidelines for National River Conservation Plan and DPR Preparation held on 06th May, 2024 in the presence of Secretary, DoWR, RD & GR. The recommendation and suggestions of the stakeholders are under review and accordingly will be proposed in the revised guidelines of NRCP and DPR guidelines.
First meeting of the Stakeholder Advisory Committee (SAC) was held on 31.05.2024 under the Chairpersonship of Secretary, DoWR, RD & GR at Nagpur under the project Condition Assessment and Management Plan of Six River Basins (Cauvery, Periyar, Narmada, Mahanadi, Godavari and Krishna).
The project “Assessment of ecological status of 7 rivers viz. Narmada, Mahanadi, Godavari, Cauvery, Periyar, Pamba and Barak for conservation planning” has been entrusted to Wild Life Institute of India (WII) at a sanctioned cost of Rs. 24.56 crore in September, 2020. The project broadly aims to spearhead river conservation in above seven Indian rivers for biodiversity conservation and maintenance of ecosystem services. Intensive ecological studies will be carried out in the seven prioritized river basins of India and ecological status will be assessed. Stake Holders workshops of NRCD- WII held at Bengaluru, Karnataka Cauvery River basin.

External Affairs & International Cooperation (EA&IC)

DoWR, RD & GR has signed a Memorandum of Understanding (MoU) with different countries on cooperation in the field of water resources management and development. For effective implementation of activities under the various signed MoUs, to enhance the collaboration under the MoU, certain activities were undertaken including Joint Working Group (JWG) meeting, the details of which is as follows –

MoU with Denmark – The MoU between India and Denmark on Cooperation in the field of Water Resources Management was signed on 12.09.2022. Two projects namely “Centre of excellence on Smart Water Resources Management (CoESWaRM)” and “Smart Laboratories on Clean River (SLCR)” have been identified under the MoU. Indian side Joint Working Group was formed on 05.08.2024. First Joint Working Group (JWG) meeting under the MoU was held on 05^th December 2024. In the meeting, it has been agreed to have organizational division at PMU level into two sub-thematic areas under the existing Centre of Excellence (CoE).

MoU with European Union – The MoU between India and the European Union on Water Cooperation was signed on 01.10.2016. Three JWG meetings have been convened so far. Third Meeting of JWG was convened on 12.07.2023 virtually. The 6th EU-India Water Forum meeting was held on 18.09.2024 during the 8th India Water Week in New Delhi. The forum inter-alia explored trilateral collaboration between East Africa, India and the EU to address water challenges in regions like Lake Victoria and Lake Tanganyika.

MoU with Israel: The MoU between India and Israel on Water Resources Management and Development Cooperation was signed on 11.11.2016. A Joint Review Committee (JRC) (Now Steering Committee) has been formed on 20.02.2024 to assess the activities and progress of the projects identified for implementation under the MoU. 1^st meeting of the JRC was convened on 9th Oct 2024 recommending the proposal for the “Establishment of India-Israel Centre of Water Technology (CoWT)”.

MoC with Japan (Water Resources): The Memorandum of Cooperation (MoC) between India and Japan in the area of Water Resources was signed on 11.12.2019. Two meetings of Joint Working Group (JWG) have been convened so far. 2nd JWG meeting was held on 14.11.2024. In the meeting both sides agreed for extension of the MoU and to identifying additional areas for collaboration.

MoU with Morocco- The MoU between India and Morocco on cooperation in the field of Water Resources was signed on 14.12.2017. Four JWG meetings have been convened so far. Fourth JWG meeting was convened on 20.09.2024. It was agreed upon that both the countries will share their experiences, analysis, findings, policies and developments in the field of water resources in its next meeting of JWG.

Bilateral Meetings of Hon’ble Minister of Jal Shakti with the Ministers of Foreign Nations during India Water Week 2024 in New Delhi: –

Denmark: Mr. C.R. Paatil, Hon’ble Minister of Jal Shakti met with H.E. Mr. Morten Bødskov, Denmark’s Minister of Industry, Business and Financial Affairs. Denmark’s Minister reaffirmed Denmark’s commitment to sustainable water solutions and highlighted the expertise of Danish companies in water management. The Hon’ble Minister of Jal Shakti proposed collaborative initiatives to develop scalable technologies for water challenges, suggesting pilot projects at the district level.
Guyana: A significant meeting took place between Mr. C. R. Paatil, Hon’ble Minister of Jal Shakti and Mr. Collin D. Croal, Hon’ble Minister of Housing & Water, Guyana. It was agreed upon that both the countries will share their experiences, policies and developments in the field of water resources
Tanzania: Mr. C. R. Paatil, Hon’ble Minister of Jal Shakti, India met with Mr. Mathew Andrea Kundo, Deputy Minister of Water, Tanzania. The Tanzanian Minister proposed discussions on a new project to transport water from Lake Victoria, estimated at $600 million, to address water challenges in Tanzania. Hon’ble Minister of Jal Shakti assured that this proposal would be deliberated upon in the Ministry positively.
Zimbabwe: A productive meeting took place between Mr. C. R. Paatil, Hon’ble Minister of Jal Shakti and Mr. Vangelis Peter Haritatos, Hon’ble Deputy Minister of Lands, Agriculture, Fisheries, Water and Rural Development, Zimbabwe. Zimbabwe’s Minister sought innovative financing options beyond traditional avenues such as EXIM etc. Hon’ble Minister for Jal Shakti assured that these matters would be deliberated upon positively, emphasizing that improvements in Zimbabwe’s irrigation sector would significantly enhance food security across Africa.

Barhmaputra & Barak (B&B) Wing

Expert Level Mechanism (ELM)

During the visit of the Hon’ble President of the People’s Republic of China to India on November 20-23, 2006, it was agreed to set up an Expert-Level Mechanism to discuss interaction and cooperation on provision of flood season hydrological data, emergency management and other issues regarding trans-border Rivers as agreed between them. Accordingly, the two sides have set up the Joint Expert Level Mechanism through a Joint Declaration by both the countries.

The ELM meetings are held alternately in India and China every year. Fifteen meetings of ELM have been held so far. The 15^th meeting of ELM was held at Beijing, China during 13^th-14^th August 2024. The GoI delegation was led by Shri S.K. Sinha, Commissioner (B&B), DoWR, RD & GR, Ministry of Jal Shakti and the Chinese delegation was led by Mr. Hao Zhao, Director General of the International Economic & Technical Cooperation and Exchange Centre, Ministry of Water Resources, People’s Republic of China. Representatives of Ministry of External Affairs (MEA), Central Electricity Authority (CEA) and Central Water Commission (CWC) had also participated in the meeting.

(ii) INDIA-BHUTAN COOPERATION

Joint Group of Expert (JGE) on Flood Management:

A Joint Group of Expert (JGE) on Flood Management has been constituted between India and Bhutan to discuss and assess the probable causes and effects of the recurring floods and erosion in the southern foothills of Bhutan and adjoining plains in India and recommend to both Governments appropriate and mutually acceptable remedial measures. Ten meetings of JGE have been held so far. The 10^th meeting was held during 28^th-29^th February, 2024 at New Delhi, India. The GoI delegation was led by Shri S. K. Sinha, Commissioner (B&B), Department of Water Resources, River Development & Ganga Rejuvenation (DoWR, RD& GR), Ministry of Jal Shakti, GoI and the RGoB delegation was led by Mr. Karma Dupchu, Director, National Centre for Hydrology and Meteorology (NCHM), RGoB.

Joint Technical Team (JTT) on Flood Management:

In accordance with the decision taken during the first meeting of JGE, a Joint Technical Team (JTT) on Flood Management between the two countries was constituted. The purpose of JTT is to assess the field situation and provide technical support to JGE on flood management. Eight meetings of JTT have been held so far. The 8^th meeting of JTT was held during 18^th–20^th November, 2024 at Chalsa, Jalpaigudi, West Bengal. The Indian delegation was led by Shri G.L. Bansal, Chief Engineer, Brahmaputra Basin Organisation (BBO), Central Water Commission, GoI and the Bhutanese delegation was led by Dr. SingayDorji, Chief of Meteorological Services Division (MSD), National Centre for Hydrology and Meteorology, RGoB.

Joint Experts Team (JET) on Flood Forecasting:

A Joint Experts Team (JET) consisting of senior officials from the Government of India and Royal Government of Bhutan(RGoB) continuously reviews the progress and other requirements of a network of 36 hydro-meteorological sites located in the catchments of trans-border rivers Puthimari, Pagladiya, Sankosh, Manas, Raidak, Torsa, Aie and Jaldhaka. So far, JET has met 38 times alternately in India and Bhutan since its reconstitution in 1992 and the last JET meeting i.e. 38^th meeting was held at Mandarmani, West Bengal, India during 10^th-11^th December, 2024.

The Indian delegation was led by Shri Subhrangshu Biswas, Chief Engineer, Teesta&Bagarathi-Damodar Basin Organisation (T&BDBO), Central Water Commission, GoI and the Bhutanese delegation was led by Mr. Karma Dupchu, Director, National Centre for Hydrology and Meteorology (NCHM), RGoB.

13. NERIWALM

The North Eastern Regional Institute of Water and Land Management (NERIWALM), under the Ministry of Jal Shakti, continued its vital contributions to water and land management across North East India in 2024. As the only institute of its kind in the region, it upheld its mandate of capacity building and skill enhancementfor efficient management of water and land resources for irrigation and agriculture.

During the year (January to December, 2024), the institute organized 76 training programmes, reaching 3,173 beneficiaries. Among these were induction-level courses for newly recruited engineers from the Irrigation and Agriculture Departments of Assam, as well as the Brahmaputra Board. A faculty development program on advancements in agriculture and water management was also conducted. NERIWALM collaborated with leading national institutions and agencies to host a two-day National Seminar on Advances in Irrigation Technologies and Management, fostering knowledge exchange and innovation.

In research and development, the institute undertook a diverse range of projects sponsored by state and central government departments. Key initiatives included the preparation of State-Specific Action Plans for 19 states, evaluations of PMKSY-AIBP and PMKSY-HKKP irrigation projects in Assam and Meghalaya, research project on farmer participation in irrigation management in Manipur, studies on good water management practices and study on the impact of climate change on dam-related hydro-geomorphic and social aspects in Arunachal Pradesh.

NERIWALM’s academic program also progressed with the enrollment of 15 students in the M.Tech course on Water Resource Management for the 2024-25 session. The institute further strengthened its credentials by developing e-learning modules on water resource management for the i-GOT platform. NERIWALM was accredited as “EXCELLENT” under the Capacity Building Commission’s National Standards, while its Soil and Water Laboratory achieved NABL accreditation.

14. NATIONAL HYDROLOGY PROJECT

National Hydrology Project (NHP), with support from the World Bank, envisages establishing a system for timely and reliable water resources data acquisition, storage, collation and management. It has pan-India coverage with 48 Implementing Agencies (IAs) {12 from Central Government (including 3 from River Basin Organisations) and 36 from States/ UTs}. It will also provide tools and systems for informed decision making for water resources assessment, planning and management. The National Hydrology Project has been approved with an outlay of Rs. 3,679.77 Crore as a Central Sector Scheme with 100% grant to State Governments and Central Implementing Agencies. The project originally had a duration of 8 years from 2016-17 to 2023-24. However, Department of Expenditure, Ministry of Finance has accorded approval for extension of project till Sept-2025 within the same allocation.

Broad objectives of NHP include: a) To improve the extent, quality, and accessibility of water resources information; b) To create decision support system for floods and basin level resource assessment/planning; and c) To strengthen the capacity of targeted water resources professionals and institutions in India.

Under the ongoing NHP, almost 22960 Real Time Data Acquisition System (RTDAS) surface water and ground water stations have already been installed in the country. Besides, 46 Supervisory Control and Data Acquisition (SCADA) packages have been commissioned; almost 5667 piezometers constructed; 134 stationary as well as mobile water quality labs have been developed/procured/maintained and put into operation;
high-resolution DEMs, CORS network as well as Geoid model have also been developed. Furthermore, Bathymetric surveys of 464 important reservoirs of the country covering 162 BCM have also been taken up under NHP of which 373 studies have already been completed. Further 36 State Data Centres / Regional data centres / knowledge centres, etc. have been completed under the ongoing NHP. The need for development & maintenance of appropriate institutional framework both at the Central as well as State level for water resources information system intended for collection, collation and dissemination of the database was given shape in the ongoing NHP. As envisaged in the Cabinet note, the National Water Resources Informatics Centre (NWIC) has been created in 2018 and is now functional. Additionally, the formation of the State Water Informatics Centres for development of respective State Water Resources Information Systems was expedited in the ongoing NHP. Till date almost 19 SWICs have already been formed with a few more under process. The information system covering hydro-meteorological, hydro-geological, sedimentation, morphological and water quality data is also important in the context of various studies being done under NHP which
include IT Applications, Digital Products, geospatial hydro products, etc.

15. Surface Minor Irrigation (SMI) scheme

Under the Surface Minor Irrigation (SMI) scheme, since 12th plan onwards, 7282 schemes are ongoing with an estimated cost of ₹ 16113.560 crores. Central Assistance (CA) of Rs. 9009.169 crores have been released to states up-to March, 2024. Further, 4965 schemes have been reported to be completed up-to March, 2024. Target irrigation potential creation of these schemes is 11.58 L Ha and out of this, 8.59 L Ha is reported to be created till March, 2024.

16. Repair, Renovation and Restoration (RRR) of Water Bodies scheme

Under the Repair, Renovation and Restoration (RRR) of Water Bodies scheme, since 12th plan onwards, 3075schemes are ongoing with an estimated cost of Rs. 2834.692 crore. Central Assistance (CA) of Rs. 554.279Crore has been released to states up to March, 2024. Further, 2192 water bodies have been reported to be completed up to March, 2024. Target irrigation potential restoration of these schemes is 2.41 L Ha and out of this, 2.00 L Ha is reported to be restored till March, 2024

18. Mass Communication Internship programme

DoWR, RD & GR undertook internship programme in mass communication on during 2024. Students pursuing Degrees or are Research Scholars enrolled in recognized University/Institution in the field of Mass Communication in India are given opportunity to apply as “interns”. The Internship Programme provided short term exposure to “selected candidates” to be associated with the Department’s work related to media/social media activities. The objectives of the programme are to well acquaint the “Interns” with the working of the Department in field of media/social media related activities etc. and simultaneously the “interns” to supplement the process of mass publicity of this Department to create awareness about importance of development and management of water resources in holistic manner.

03 interns were selected for an initial period of 6 months under the program.

*****

Dhanya Sanal K

Director

(Release ID: 2096022) Visitor Counter : 29

MIL OSI Asia Pacific News –

January 26, 2025

MIL-OSI USA: SPC Nov 4, 2024 0100 UTC Day 1 Convective Outlook

Source: US National Oceanic and Atmospheric Administration

SPC AC 040057

Day 1 Convective Outlook
NWS Storm Prediction Center Norman OK
0657 PM CST Sun Nov 03 2024

Valid 040100Z – 041200Z

…THERE IS AN ENHANCED RISK OF SEVERE THUNDERSTORMS ACROSS PARTS OF
EASTERN OKLAHOMA AND NORTHEAST TEXAS…

…SUMMARY…
Multiple rounds of strong-severe thunderstorms remain possible
tonight over parts of the southern Plains. Tornadoes, damaging
winds and large hail are expected.

…01z Update…

Seasonally strong upper trough is advancing east across the Four
Corners region early this evening. 90+kt 500mb speed max will rotate
into the base of this feature over northern Mexico late tonight and
into far West TX by sunrise. In response, LLJ is forecast to
increase markedly across the southern High Plains later this
evening, with the nose of the LLJ expected to focus into western OK
by the end of the period. 20-30kt southerly 1km winds are currently
noted at SJT/MAF/DYX, and higher PWs will begin to surge north over
the next few hours into the TX South Plains. Scattered convection
continues to trail southwest across the Big Country, but this
activity is not currently strongly forced. However, low-level
convergence should increase across northwest TX as the LLJ
increases, and scattered strong/severe thunderstorms will likely
develop late this evening into the early-morning hours as far
northwest as the eastern portions of LBB CWA. Forecast soundings
exhibit very steep 2-6km lapse rates, which contribute to MUCAPE
approaching 3000 J/kg within an environment that will become
increasingly sheared. Long hodographs appear favorable for very
large hail with this activity. Additionally, as upper 60s surface
dew points advance into southwest OK, surface-based parcels become
uninhibited and substantial SBCAPE will once again develop. In
addition to large hail, threat of tornadoes may increase very late
in the period as boundary layer recovers across this portion of the
Plains.

Otherwise, a larger complex of storms, that currently extends from
the Red River into eastern OK, will gradually advance east this
evening. Scattered supercells are embedded within this corridor,
especially along the leading edge. Wind fields continue to support
long-lived updrafts and all hazards remain possible, especially
wind/tornadoes. The primary risk for large hail will accompany the
late-night supercells ahead of the mid-level speed max.

..Darrow.. 11/04/2024

CLICK TO GET WUUS01 PTSDY1 PRODUCT

NOTE: THE NEXT DAY 1 OUTLOOK IS SCHEDULED BY 0600Z

MIL OSI USA News –

January 26, 2025
MIL-Evening Report: 31% of companies are not paying tax in Australia. How do they do it?

Source: The Conversation (Au and NZ) – By Kerrie Sadiq, Professor of Taxation, QUT Business School, and ARC Future Fellow, Queensland University of Technology

Seb Zurcher/Unsplash

Large companies paid the Australian government a record A$100 billion in tax in the last year, a 17% increase on the previous year. But, over the same period, there were still 31% of large companies, operating here but not paying any tax.

The Australian Taxation Office’s annual corporate tax transparency report released last week includes data on nearly 4,000 of Australia’s largest corporations.

In its tenth year, the report is lauded by the government and ATO as a way to increase corporate accountability and reduce tax avoidance. But there is no detail on the tax practices of multinational entities, including how they interact with their offices around the world.

In particular, there is little information about how 1,200 companies paid no tax.

What the report tells us

The transparency report provides data on corporations with income of $100 million or more and businesses which pay the petroleum resource rent tax (PRRT). This includes Australian public and foreign-owned corporate tax entities, as well as Australian-owned resident private companies.

The report details the total income, taxable income, tax payable, and PRRT payable for all entities that meet the reporting threshold. Taxable income is simply assessable income minus deductions. Tax payable as a percentage of taxable income, can then be used to calculate an effective tax rate. The statutory corporate tax rate is 30%.

A variation between an effective tax rate and the statutory tax rate is not evidence of tax avoidance. However, questions need to be asked about how profitable companies reduce their tax liability to zero.

Zero liability can be achieved by deducting offsets and credits. For example, companies that conduct significant research and development are given tax breaks which reduce the amount of tax payable.

Where a company has accounting losses or a tax loss because it has incurred more expenses than income, tax will be zero. These are legitimate reasons for paying no tax.

But the limited information provided simply tells us how profitable a company is, the amount of tax deductions claimed against that profit, and the tax payable.

What the report doesn’t tell us

The transparency report reveals little about tax practices of multinational entities.

The question remains what deductions are being claimed by corporations and tax entities. The ATO has this information but can only publish what the law allows them, which is limited.

For multinationals, deductions will include dealings with overseas parts of the global entity, such as subsidiaries or the parent entity. These transactions create legitimate tax deductions.

Common transactions include payments to overseas subsidiaries for services, royalty payments for intellectual property, and interest on overseas borrowings.

In the case of petrol company Chevron, money was borrowed in the United States at around 1.2% and on lent to a related Australian entity at 9%.

After a long court battle, about 5% of interest was allowed as a deduction, an amount significantly above the original interest rate. This gave Chevron in Australia a large tax deduction.

It is through these types of transactions profits earned in Australia are shifted overseas. Current tax law allows this but requires the transaction, known as the transfer price, to be at arm’s length – that is, the price is agreed to between independent parties entering the same transaction.

What is transfer pricing?

Multinationals are global by nature and therefore logically maximise worldwide profits. Tax systems do not operate in the same way.

Tax comes under domestic law which means transactions between parts of a global entity are recognised for tax purposes.

If goods or services are sold by one part of the entity to another, an internal transaction occurs. For tax purposes the transaction is recognised as a deduction in one location and income in another. An Australian entity would pay a foreign party for things like marketing, and get a deduction for the expense.

In recent years the ATO has settled marketing disputes with large multinationals including Google, BHP, Apple, Rio Tinto, ResMed and Microsoft.

Where a deduction is allowed in a high tax jurisdiction, such as Australia, and income is included in the profits of a low tax jurisdiction, such as Singapore, the result is larger overall global profits.

The tax system recognises the incentive for multinational entities to shift profits this way and requires transactions to be at a commercial or negotiated price. Determining the price however can be fraught and has led to numerous court cases and tax disputes.

The tax transparency report reveals nothing about these types of transactions.

Taxing multinationals in Australia

In the last decade there have been moves to tax income in the location of the economic activity. The OECD has tried to stop profit shifting by companies, which erodes the tax base of high taxing jurisdictions, through its tax reform agenda.

Further complicating the issue of transfer pricing is the question of whether there is any real activity in the countries where different parts of a multinational are located.

Singapore is recognised for what are known as service hubs. These are places where various services such as sales negotiations are conducted and marketing occurs. Singapore also happens to have a headline corporate tax rate of 17%. This is often reduced to single digits after deals are entered into between taxpayers and the Singapore revenue authority.

Intellectual property poses similar problems.

These are increasingly valuable assets for multinational entities as they provide a unique edge in the market. We only need to think of Apple, Microsoft and Google to understand how valuable names, logos and designs are.

By its very nature intellectual property has no physical location and can be owned anywhere in the world. Often, intellectual property is held in low or no tax countries.

The transparency report includes no details about how much is transferred to these locations. This is where Australia’s proposed public country-by-country reporting may assist.

Is the ATO’s corporate tax transparency report worthwhile?

Australia should continue to strive to be a leader in corporate tax transparency.

A two-step approach is required to eliminate corporate tax avoidance. Information is valuable and public transparency measures are an important first step.

A second step, however, is to reform substantive tax laws to tax profits where they are genuinely being generated.

Kerrie Sadiq is the recipient of a four year Australian Research Council Future Fellowship Grant.

– ref. 31% of companies are not paying tax in Australia. How do they do it? – https://theconversation.com/31-of-companies-are-not-paying-tax-in-australia-how-do-they-do-it-242695

MIL OSI Analysis – EveningReport.nz –

January 26, 2025
MIL-OSI: TBV and BitcoinOS to Host The Best Event at Devcon BKK: Exclusive Networking and Epic Afterparty
Source: GlobeNewswire (MIL-OSI)
- On the heels of their Marquee Party during Token2049 Singapore which saw a full house turnout of over 3,000 attendees from an overly-subscribed 8,000 signups, Tobi & Brent are bringing yet another massive bash, this time to Devcon Bangkok.
- Co-hosted by early-stage Web3 VC fund TBV and revolutionary BTC blockchain network BitcoinOS.
- Headlined by popular South Korean DJ SODA, who boasts a following of over 25 million fans and will be providing high-energy performances and a distinctive mix of EDM and electro house music.
BANGKOK, Nov. 04, 2024 (GLOBE NEWSWIRE) — “The Best Event. Devcon BKK with TBV & BitcoinOS” is set to be the highlight of Devcon Week in Bangkok. The premier event series, hosted by TBV (TB Ventures) and BitcoinOS, offers a unique blend of high-impact networking followed by the signature “Web3 with Tobi & Brent” afterparty experience.

Taking place at Portal on November 13th, amidst Bangkok’s bustling nightlife, “The Best Event” is definitely not your traditional tech event. Serving up a unique recipe for celebration and connection, the packed mashup of networking, hackathons, music and high-value deal flows is going to make for some very unique and innovative bedfellows.

Headlining the night is the illustrious South Korean DJ SODA, whose exhilarating performances and distinctive blend of EDM and electro house music have amassed a dedicated following of over 25 million fans. Add in nine more high-energy DJ sets and the mix of entrepreneurs, investors, developers, and key opinion leaders, and this social meets sonic meets tech odyssey is primed to emerge as the centerpiece of Devcon Week.

Tobias Bauer, General Partner and Co-Founder of TBV shared, “Our Token2049 event was awesome, massive party vibes and an incredible network of industry heavy-weights. The one thing we were missing was a quieter space for ongoing networking across the night so that’s what we’re bringing to Devcon week. A legendary party, a hackathon, party buses, and exclusive networking the whole way through. See you there!”

Building the Web3 Community: The Tobi & Brent Phenomenon

Since 2024, the “Web3 with Tobi & Brent” brand has become synonymous in the Web3 space with cultivating thriving communities and fostering genuine connections. The dynamic duo has garnered an overall following on Telegram and social media that numbers over 100,000, demonstrating their ability to organically unite VCs, LPs, projects, and industry enthusiasts.

During their massively attended MARQUEE event during Token2049 Singapore which was headlined by internationally acclaimed DJ Dillon Francis, Tobi & Brent soft-launched TBV (TB Ventures), a VC fund focused on early-stage web3 startups. Their events arm TBE (TB Events) has now curated “The Best Event. DevCon BKK with TBV & BitcoinOS”, offering yet another distinctive global Web3 rendezvous.

“It’s a privilege to host these events and to see the quality of attendees that they draw. I’m proud of what we’ve been able to achieve with our event series, and it’s in huge part thanks to our incredible partners and team. If there’s one event to hit during Devcon week, this one is it,” said Brent Fulfer, General Partner and Co-Founder of TBV.

BitcoinOS: The Smart Contract Operating System for Bitcoin

The Best Event is also co-hosted by BitcoinOS, an operating system designed to create a unified, interconnected, barrier-free playground for innovation on Bitcoin. Using ZK (zero-knowledge) tech, developers can deploy any VM (virtual machine) to Bitcoin with the scalability of Ethereum, the interoperability of Cosmos, and the speed of Solana.

Building the key missing tech that will finally allow Bitcoin’s utility to extend beyond a store of value, the BitcoinOS team’s successful verification of the first ZK proof on Bitcoin mainnet has opened the doors for trustless BTC bridging, and eventually an ecosystem of true Bitcoin rollups. This is the holy grail of Bitcoin scalability which will securely open the doors for over a trillion dollars of liquidity to merge with the Web3 ecosystem.

The Best Networking. The Best Time. THE BEST EVENT.

Right off DEVCON, the early party vibes will begin aboard the TBV and BOS party buses where buzzing anticipation and free flow drinks, which continue throughout the evening, make for an enjoyable seamless transit to Portal.

Upon arrival, guests embark on the next exploration with four unique zones of immersive experiences. From networking over drinks and canapes, to a ‘drunken dev’ hackathon, to an upscale bar with skyline views, the diverse atmospheres offer up ample networking opportunities.

As the clock strikes nine, the Portal gates open to general admission, unleashing the torrents of energetic crowds while an all-star lineup of world class DJs take to the main stage. With DJ SODA at the helm, whose high-octane performances and infectious rhythms have captivated fans worldwide, Portal will be transformed into a pulsating epicenter of entertainment.

The likes of Jade Rasif, a top Singaporean DJ famed for her high energy EDM sets; established Asian DJ, Nicole Chen, known for her stage presence; Your Crypto DJ, who has played on the same line-up as Don Diablo, Alesso, Dimitri Vegas and Like Mike; DJ Kim Sane, who has performed at the likes of Ultra Europe, and more –– each set, across 2 stages, will provide a unique auditory experience of eclectic styles, ensuring the vibe never drops across the night’s festivities. As the night unfolds, connections with like-minded peers and pioneers from the Web3 community hold the potential to forge relationships that could spark collaborations that extend beyond the event.

As a prequel to The Best Event, TBV and BitcoinOS are also hosting a “Meet the VC with Tobi & Brent” on November 12th. This exclusive rendezvous is designed to connect attendees with leading VCs and projects, further supporting the Devcon experience.

Hosted and Supported by the Best in Web3

Co-hosted by TBV and BitcoinOS, “The Best Event” is proudly supported by leading Web3 companies, including Petastic, Fideum, Zekret, Vurse, FOMO Ventures, Matterblock, Freename, BoomFi, Biptap, Libera Global, Captain & Company, and BeWater.

“The Best Event” is also supported by prominent players in the Web3 PR, media and influencer spaces, such as yourPRstrategist (YPRS), Crypto Banter, Asia Token Fund, Coinstelegram, European Kid, CoinsCapture, MediaX, Arcadia, Cryptopolitan, Coinfea, Key Difference Wire, The Coin Republic, ZEX PR Wire, Trader Brawl Media, and Tiger Mode Media as well as community partners like Unity Labs, Cryptocurrency PH, Crypto World Community, Unikorn, Founders Hub Network, Association Blockchain Asia, AdLunam, Nadmah, All Confs Bot, Clubout and more, which further amplify its reach. With its extensive network and high-profile partnerships, the event stands out as a key highlight of Devcon, attracting industry insiders and enthusiasts alike.

Due to the high demand and limited capacity, guests are advised to arrive early, with doors opening at 8:00PM, to ensure entry as this event is first-come, first-served.

For more information and to register, visit: https://lu.ma/TheBestEvent-DevCon24
For the latest updates, join the Telegram group: https://t.me/+5KzXYg2cridmOGRl
For sponsorships, VIP inquiries or table reservations, contact via email or on Telegram.

About TB Ventures (TBV)
TBV is a venture capital fund investing in early-stage Web3 companies across Southeast Asia and North America. Supported by TBE (TB Events) and TBA (TB Advisory), TBV offers a comprehensive ecosystem and network of services that are underpinned by a 100k+ social following and 10k+ active TG community.
X: https://x.com/tbvxyz
Linkedin: https://www.linkedin.com/company/tbv-xyz
Instagram: https://www.instagram.com/tobiandbrent

About TB Events (TBE)
TB Events is a premier event series in the Web3 community, bringing together key industry figures for networking and collaboration. With a focus on fostering connections and sharing insights, these events serve as a hub for innovation and growth in the blockchain space.

About BitcoinOS
BitcoinOS is the ultimate upgrade to Bitcoin. Its breakthroughs in the use of ZK proofs allow it to embed any computation directly into Bitcoin transactions. This allows for a shared infrastructure layer of the first true Bitcoin L2s that feature total L1 security, trustless bridging, scalability, natively private transactions, and fully programmable tokens on Bitcoin.

BOS’s modular infrastructure acts as an operating system that creates seamless interoperability among all L2s within the system. As such, BOS fully maintains Bitcoin’s network effects, and establishes a permissionless, peaceful paradigm for the original chain to evolve in layers without ever needing to fork its code.

Media Contact
pr@yourprstrategist.com
gm@tbv.xyz

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/39d386f8-822a-48fe-939c-b819c41a659b

The MIL Network –
January 26, 2025
MIL-OSI New Zealand: Economy – Annual publication of updated weights for the Trade Weighted Index – Reserve Bank of NZ

Source: Reserve Bank of New Zealand

4 November 2024 – The annual publication of updated weights for the Trade Weighted Index will take place on 4 December 2024.

This will be published on the B10: Trade Weighted Index weights and trade volumes and B13: Trade Weighted Index historical weights tables after 3pm. While the specific time of publication cannot be confirmed, the B10 and B13 tables will be published by close of business on 4 December 2024.

These weights will take effect from 5 December 2024.
Trade Weighted Index weights and trade volumes (B10): https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=d15df74332&e=f3c68946f8
Trade Weighted Index historical weights (B13): https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=b27c24801f&e=f3c68946f8

MIL OSI New Zealand News –

January 26, 2025

MIL-OSI Banking: Result of the 3-day Variable Rate Reverse Repo (VRRR) auction held on November 04, 2024

Source: Reserve Bank of India

Tenor	3-day
Notified Amount (in ₹ crore)	1,75,000
Total amount of offers received (in ₹ crore)	74,000
Amount accepted (in ₹ crore)	74,000
Cut off Rate (%)	6.49
Weighted Average Rate (%)	6.49
Partial Acceptance Percentage of offers received at cut off rate	NA

Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2024-2025/1417

MIL OSI Global Banks –

January 26, 2025

MIL-OSI: Sampo plc’s share buybacks 1 November 2024

Source: GlobeNewswire (MIL-OSI)

Sampo plc, stock exchange release, 4 November 2024 at 8:30 am EET

Sampo plc’s share buybacks 1 November 2024

On 1 November 2024, Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI4000552500) as follows:

Sampo plc’s share buybacks	Aggregated daily volume (in number of shares)	Daily weighted average price of the purchased shares*	Market (MIC Code)
	4,395	41.16	AQEU
	40,324	41.18	CEUX
	754	41.28	TQEX
	46,183	41.19	XHEL
TOTAL	91,656	41.19

*rounded to two decimals

On 17 June 2024, Sampo announced a share buyback programme of up to a maximum of EUR 400 million in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. On 16 September 2024, the Board of Directors of Sampo plc resolved to increase the share buyback programme to EUR 475 million. The programme, which started on 18 June 2024, is based on the authorisation granted by Sampo’s Annual General Meeting on 25 April 2024.

After the disclosed transactions, the company owns in total 9,872,296 Sampo A shares representing 1.79 per cent of the total number of shares in Sampo plc, taking the issuance of shares on 16 September 2024 into account.

Details of each transaction are included as an appendix of this announcement.

On behalf of Sampo plc,
Morgan Stanley

For further information, please contact:

Sami Taipalus
Head of Investor Relations
tel. +358 10 516 0030

Distribution:
Nasdaq Helsinki
Nasdaq Stockholm
Nasdaq Copenhagen
London Stock Exchange
The principal media
FIN-FSA
DEN-FSA
www.sampo.com

Attachment

Sampo_share_buyback_01_11_2024

The MIL Network –

January 26, 2025

MIL-OSI: BW Energy Limited: First day of trading of bonds

Source: GlobeNewswire (MIL-OSI)

BW Energy Limited – First day of trading of bonds

Reference is made to the stock exchange announcement by BW Energy Limited (the “Company”) on 31 October 2024 regarding the approval and publication of the Company’s prospectus in connection with the listing of a new senior unsecured bond issue with an initial issue amount of USD 100 million with ISIN NO0013259663 on the Oslo Stock Exchange.

As of today, the bonds start trading on Euronext Oslo Børs under the ticker code “BWE01”.

For further information, please contact:

Brice Morlot, CFO BW Energy, +33.7.81.11.41.16

ir@bwenergy.com

About BW Energy:

BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block in, a 95% interest in the Maromba field in Brazil and a 95% interest in the Kudu field in Namibia, all operated by BW Energy. Total net 2P+2C reserves and resources were 580 million barrels of oil equivalents at the start of 2024.

The MIL Network –

January 26, 2025
MIL-OSI Economics: Samsung Opens Its Largest Experience Store in Gurugram at DLF CyberHub, Redefining Customer Engagement with Next-Gen Technology

Source: Samsung

Samsung, India’s leading consumer electronics brand, has announced the launch of its largest Experience Store in Gurugram, located at DLF CyberHub—a centre known for its diverse mix of entertainment, lifestyle, and commerce. This sprawling 3,000 sq. ft. space is where consumers can immerse themselves in Samsung’s most advanced mobile and connected technology offerings.

Located in one of Gurugram’s busiest and most accessible areas, the store is designed to cater to the city’s tech-savvy and innovation-driven community. Visitors can experience hands-on interaction with Samsung’s flagship smartphones, wearables, audio devices, and the SmartThings ecosystem in thoughtfully curated immersive zones.

In addition, the store emphasizes personalized customer engagement, with dedicated experts available to guide visitors through Samsung’s latest products, helping them discover tailored solutions that meet their lifestyle needs.

“Our new Experience Store at DLF CyberHub marks a significant step in Samsung’s journey to bring innovative, seamlessly-integrated technology closer to consumers. This store is more than a retail space, it offers a glimpse into the future of connected living, where our SmartThings ecosystem and mobile experiences converge to improve everyday life. Building on the success of our existing experience stores nationwide, the CyberHub location is set to elevate customer engagement through hands-on demonstrations, personalized consultations, and immersive zones that highlight our latest innovations. We invite consumers to explore and experience the cutting-edge technology that is shaping the future of how we live, work, and connect,” said Sumit Walia, Vice President, D2C Business, Samsung India.

Samsung’s new Experience Store is a careful blend of the physical and digital worlds. With a full omni-channel experience, customers can transition effortlessly between browsing in-store and purchasing online through Samsung’s Store+ platform. Whether in-store or online, consumers have access to over 1,200 Samsung products, ranging across Mobiles, Smart TVs, Refrigerators and beyond, all available for home delivery.

Samsung is also taking customer engagement a step further with its ‘Learn @ Samsung’ initiative, offering workshops designed for AI education. This includes topics that focus on consumer passion points and interests such as doodling, photography, fitness and productivity. The new Samsung Experience store will also be providing after-sales service for smartphones and the convenience of booking home service calls for all consumer electronics needs.

To mark the opening, Samsung is rolling out special offers for early visitors, including the Galaxy Fit3 at INR 1,999 on select Galaxy purchases and double SmartClub points on all transactions. These exclusive deals add even more value to the immersive experience awaiting customers at DLF CyberHub.

Samsung invites all tech enthusiasts, shoppers, and innovators to visit the new Experience Store and explore the best in mobile technology, connected solutions, and personalized services—all designed to deliver a premium, future-forward experience.

MIL OSI Economics –

January 26, 2025
MIL-Evening Report: Crossbenchers cancel their membership of airlines’ elite lounges

Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

Crossbench independents Allegra Spender, Helen Haines and Kate Chaney have declared they are pulling out of the elite lounges run by Qantas and Virgin, amid the ongoing spotlight on privileges politicians receive from the airlines.

Allegra Spender, the member for the Sydney seat of Wentworth, also said she’d write to ask Qantas and Virgin not to give free upgrades to parliamentarians. It was “time to end the upgrades”.

She said all sides of politics enjoyed the perks, and both major parties had blocked greater competition from Qatar Airways.

Airlines operated under government policy and ministerial decisions, she said. “The public is understandably losing trust in politicians to make those decisions impartially when they’re being given free upgrades from the companies they’re supposed to regulate.”

Spender urged a review of the ministerial code of conduct. Tighter rules were needed about what politicians could accept. The code should also be extended to shadow ministers. There should as well be much more transparency over the diaries of ministers, she said.

“This is the only way to deal with the perception – and potential reality – of decisions being influenced by perks.”

But Labor MP Luke Gosling, from the Darwin seat of Solomon, accused her of grandstanding. “It’s a bit rich from the people with harbour views who either drive or have less than a one-hour flight,” he told the ABC.

Haines, from the Victorian regional seat of Indi, said she was quitting the lounges because she wanted “to remove any possibility of an actual or perceived conflict of interest” in her work as an MP.

“The reality that airlines offer these kinds of perks because ultimately they want to get something in return does not sit well with me and I want to continue to contribute to creating a culture of transparency and accountability through my actions as well as my words.”

Haines said she wanted “to see more rigorous rules around MP disclosures of upgrades and I think a ban on soliciting free flight upgrades is more than reasonable”.

Chaney, who holds the Western Australian seat of Curtin, said with the media attention on the issue “we need to do everything we can to rebuild trust in politicians making decisions in the public interest”.

Another crossbencher, Monique Ryan, from the Melbourne seat of Kooyong, who dropped her Qantas chairman’s lounge membership last year on integrity grounds, said she welcomed the discussion about the impact of corporate largesse on MPs’ decision-making.

“I am deeply concerned about lobbying and its potential to impact government decision making. Free upgrades and airline hospitality are lobbying practices that we have taken for granted for a long time, and it is important that we re-examine them — especially given public concerns about conflicts of interest.”

Meanwhile there is no indication of when opposition transport spokeswoman Bridget McKenzie, who was leading the charge against the prime minister over his upgrades, will produce a list of her own. She has said she has written to three airlines to check what upgrades she has had.

Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Crossbenchers cancel their membership of airlines’ elite lounges – https://theconversation.com/crossbenchers-cancel-their-membership-of-airlines-elite-lounges-242782

MIL OSI Analysis – EveningReport.nz –

January 26, 2025

MIL-OSI: Aktsiaselts Infortar Unaudited Consolidated Interim Report for third quarter of 2024

Source: GlobeNewswire (MIL-OSI)

Aktsiaselts Infortar (Infortar) will organize a webinar for introducing third quarter 2024 results today. Please join the webinar via the following links:

4. November at 12.00 (EET) Estonian webinar

4. November at 14.00 (EET) English webinar

Following the acquisition of a majority stake in Aktsiaselts Tallink Grupp (Tallink), Infortar’s total assets have reached €2.5 billion. For the first nine months of this year, the company’s consolidated revenue amounted to €926 million, net profit reached €187 million, and investments totaled €138 million.

“We’ve grown into Estonia’s largest investment company in the third quarter—our consolidated asset volume has increased by €1 billion within just nine months. Infortar’s structure and outlook have transformed significantly over a short period; we’re literally fuelled by growth,” remarked Ain Hanschmidt, Chairman of Infortar’s Management Board.

“Infortar actively seeks and invests in growth across various sectors and beyond borders. When we went public last year, we committed to invest €110 million from 2023 to 2025, yet we have already invested €138 million in the current year alone,” said Hanschmidt.

In the third quarter of 2024, Infortar increased its shareholding in Tallink to 68.5% through a public share offering. Alongside with other investors, Infortar envisions a strong and stable future for Tallink. The voluntary takeover offer attracted those who wished to exit the region for various reasons.

In the third quarter of 2024, Tallink transported a total of 1,715,496 passengers, with the company’s ships completing 1,840 departures. Compared to the same period last year, Tallink´s unaudited sales revenue decreased by 3.7%, totalling €231.9 million, with a net profit of €36.8 million.

AS Eesti Gaas, the largest private energy company in the Finnish and Baltic region, increased its sales volume of natural gas and electricity by 27% year-on-year, reaching 13.9 TWh and a market share of 25.7%. Operating under the Elenger brand in foreign markets, the company is focused on expanding its energy business in Poland and Germany and establishing access to the wholesale gas market in the Netherlands and Belgium.

The construction of Rimi’s logistics centre and the new Pärnu bridge are going according to the schedule. In July, the bridge arch was installed, introducing new engineering solutions to Estonia.

At the end of the third quarter, Infortar announced plans to acquire Tallinna Raamatutrükikoda, in addition to the printing houses Printon and Vaba Maa. This acquisition aims to enhance synergies and bolster the company’s extensive experience in the printing sector.

KEY FIGURES	9 months 2024	9 months 2023	Q3 2024	Q3 2023
Revenue (in thousands of EUR)	925 607	746 892	349 468	186 540
Gross profit (in thousands of EUR)	93 758	107 238	40 669	18 887
EBITDA (in thousands of EUR)	117 384	105 865	41 874	19 294
EBITDA margin %	12,7%	14,2%	12,0%	10,3%
Operating profit (in thousands of EUR)	83 817	94 661	20 422	14 234
Net profit (in thousands of EUR)	187 339	269 624	114 322	185 941
Profit attributable to the owners of the parent company (in thousands of EUR)	184 122	269 546	111 105	185 658
Earnings per share (EUR)*	9,1	13,3	5,5	9,2

Total equity (in thousands of EUR)	1 223 058	771 700
Total liabilities (in thousands of EUR)	961 419	480 816

* For the period ending 30.09.2024, earnings per share (EPS) in euros have been calculated using a share count of 21,166,239, with company´s own shares deducted for comparability.

Revenue

During the first nine months of 2024, Infortar’s consolidated revenue increased by €178.7 million, reaching €925.6 million, compared to €746.9 million in the same period in 2023. This growth was significantly impacted by the line-by-line consolidation of Tallink results into Infortar’s financial statements.

EBITDA and Segment Reporting

The acquisition of a majority stake in Tallink does not significantly impact segment reporting; Infortar’s management continues to monitor business segments using existing principles.

Energy Segment: Nine-month EBITDA for 2024 was €79.5 million, down from €99.1 million in 2023.

Maritime transportation segment: nine-month EBITDA for 2024 was €149,5 million, compared to €177.7 million in 2023. Until 31.07.24, Infortar consolidated Tallink results by the equity method according to its ownership percentage, switching to line-by-line reporting as of 01.08.24.

Real Estate Segment: EBITDA for real estate in the first nine months of 2024 reached €12 million, up from €11 million in the same period of 2023.

Net Profit

Consolidated net profit for the first nine months of 2024 was €187.3 million, compared to €269.6 million for the same period in 2023. The previous year’s results included a one-time profit from the AS Gaso acquisition.

Financing

Loan and lease obligations totalled €961.4 million for the first nine months of 2024, up from €480.8 million in 2023 due to the consolidation of Tallink liabilities. The net debt-to-EBITDA ratio, considering Tallink’s full-year EBITDA for 2024, stands at 2.4.

Income statement, in thousands of EUR	Q3 2024	Q3 2023	9 months 2024	9 months 2023
Sales Revenue	349 468	186 540	925 607	746 892
Cost of Sales	-308 803	-169 764	-831 796	-634 815
Impairment of Receivables	4	2 111	-53	-4 839
Gross Profit	40 669	18 887	93 758	107 238
Marketing Expenses	-7 789	-394	-8 627	-1 109
General Administrative Expenses	-13 423	-3 975	-27 679	-12 563
Profit (Loss) from Biological Assets	44	0	17	0
Loss on Changes in Fair Value of Investment Properties	-3 047	0	-2 891	0
Profit (Loss) from Derivative Instruments	52	380	24 574	1 067
Other Operating Income	4 368	308	5 449	1 065
Other Operating Expenses	-452	-972	-784	-1 037
Operating Profit	20 422	14 234	83 817	94 661
Profit from Investments Accounted for Using the Equity Method	3 243	22 254	22 128	37 701
Financial Income and Expenses
Income from Financial Investments	69 782	-34	72 520	-58
Interest Expense	-11 340	-5 520	-24 466	-14 004
Interest Income	1 215	467	4 219	2 300
Profit (Loss) from Foreign Exchange Rate Changes	160	-23	156	-160
Other Financial Income and Expenses	-393	159 216	-395	159 216
Total Financial Income and Expenses	59 424	154 106	52 034	147 294
Profit Before Tax	83 089	190 594	157 979	279 656
Corporate Income Tax	31 233	-4 653	29 360	-10 032
Profit (Loss) for the Reporting Period	114 322	185 941	187 339	269 624
Including:
Profit (Loss) Attributable to Owners of the Parent Company	111 105	185 658	184 122	269 546
Profit (Loss) Attributable to Non-controlling Interests	3 217	283	3 217	78
Other Comprehensive Income for the Reporting Period			-33 463	-60 195
Total Comprehensive income for the Reporting Period			153 876	209 429
Including:
Comprehensive Income (Loss) Attributable to Owners of the Parent Company			150 659	209 351
Comprehensive Income (Loss) Attributable to Non-controlling Interests			3 217	78
Basic Earnings per Share			9,11	13,20
Diluted Earnings per Share			8,78	12,80

^{* The non-cash revaluations of derivative instruments in comprehensive income do not affect the profitability or cash flow generating ability of AS Eesti Gaas or Infortar’s core business operations.}

Balance sheet, in thousands of EUR

ASSETS	30.09.24	30.09.23	31.12.2023
CURRENT ASSETS
Cash	95 863	90 456	87 115
Short-term Financial Investments	1	1	0
Short-term Derivative Instruments	2 246	21 216	28 728
Receivables from Realized Derivative Instruments	2 773	1 279	5 958
Receivables from Customers	115 992	91 071	162 575
Tax Prepayments	4 161	1 192	925
Other Receivables and Prepayments	31 098	20 228	20 185
Prepayments for Inventories	2 885	29 354	3 493
Inventories	221 174	177 824	146 884
Biological Assets	420	0	0
Total Current Assets	476 613	432 621	455 863
NON-CURRENT ASSETS
Investments in Associates	15 756	341 490	346 014
Long-term Derivative Instruments	1 451	3 485	1 125
Long-term Loans and Other Receivables	29 668	9 771
Investment Properties	67 791	171 046	9 072
Property, Plant, and Equipment	1 816 338	449 014	176 024
Intangible Assets	39 276	13 474	446 748
Right-of-use Assets	47 548	10 421	14 366
Biological Assets	2 840	0	11 300

Total non-current assets	2 020 668	998 701	1 004 649
TOTAL ASSETS	2 497 281	1 431 322	1 460 512

EQUITY AND LIABILITIES
CURRENT LIABILITIES
Loan Liabilities	199 247	204 468	184 259
Lease Liabilities	8 499	956	1 766
Payables to Suppliers	136 017	60 687	74 751
Tax Liabilities	35 702	17 341	32 822
Customer Prepayments	34 741	3 171	3 099
Realized Derivative Instruments	222	3 395	1 463
Other Short-term Liabilities	53 351	21 374	10 851
Short-term Derivative Instruments	11 680	226	3 659
Total Current Liabilities	479 459	311 618	312 670
NON-CURRENT LIABILITIES
Long-term Provisions	9 208	7 255	8 399
Deferred Income Tax Liability	2 391	34 920	33 233
Other Long-term Liabilities	28 612	30 426	30 679
Long-term Derivative Instruments	880	11	186
Loan liabilities	713 212	265 805	246 410
Lease liabilities	40 461	9 587	8 725
TOTAL NON-CURRENT LIABILITIES	794 764	348 004	327 632
TOTAL LIABILITIES	1 274 223	659 622	640 302
EQUITY
Share Capital	2 117	1 985	2 105
Treasury Shares	-95	-95	-95
Share Premium	32 484	0	29 344
Statutory Reserve	212	205	205
Option Reserve	7 647	3 068	3 864
Hedging Reserve*	20 725	22 084	24 118
Unrealized Exchange Differences	1 114	32	-39
Reserve for Post-employment Benefit Obligations	-44	0	-44
Retained Earnings	728 559	474 015	466 140
Profit for the Reporting Period	184 122	269 546	293 778
Equity Attributable to Owners of the Parent Company	976 841	770 840	819 376

Non-controlling Interests	246 217	860	834
TOTAL EQUITY	1 223 058	771 700	820 210
TOTAL EQUITY AND LIABILITIES	2 497 281	1 431 322	1 460 512

^{* This represents the change in the accounting hedging position, which affects the comprehensive income result.}

Cash flow statement, in thousands of EUR	9 months 2024	9 months 2023	2023
Cash Flows from Operating Activities
Profit for the Reporting Period	187 339	269 624	293 830
Adjustments
Depreciation and Impairment of Fixed Assets	30 676	11 204	15 581
Change in Value of Investment Properties	2 891	0	4 074
Profit/Loss from Equity Investments	-156 017	-37 701	-39 639
Change in Value of Derivative Instruments	26 156	59 284	54 122
Other Financial Income/Expenses	-66	-161 433	-161 965
Accrued Interest Expenses	24 466	14 004	22 573
Profit/Loss from Disposal of Fixed Assets	-301	-76	-91
Income from Targeted Financing Recognized in Revenue	-319	-347	784
Accrued Income Tax Expense	-29 360	10 032	8 610
Income Tax Paid	-1 482	0	-267
Change in Receivables and Prepayments Related to Operating Activities	79 126	130 325	54 540
Change in Inventories	-22 986	-118 715	-61 914
Change in Liabilities Related to Operating Activities	35 968	-24 650	-406
Change in Biological Assets	112	0	0
Total Cash Flows from Operating Activities	176 203	151 551	189 832

Cash Flows from investing activities
Payments for Purchase of Associates	0	-7 728	-10 314
Payments for Purchase of Subsidiaries	-67 810*	-103 410	-103 414
Dividends paid	20 862	0	0
Repayments of Loans Granted	2 057	5 966	6 652
Interest Received	4 019	2 301	2 691
Payments for Acquisition of Investment Properties	-10 566	-10 506	-18 304
Payments for Acquisition of Property, Plant and other assets	-17 042	-13 972	-18 143
Proceeds from Sale of Investment Properties and Fixed Assets	707	78	-252
Total cash Flows from investing activities	-67 773	-127 271	-141 084
Cash Flows from Financing Activities
Change in Overdraft	-30 457	30 546	14 348
Loans Received	106 303	148 955	287 606
Repayments of Loans Received	-114 706	-150 790	-312 846
Repayments of Principal Portion of Lease Liabilities	-8 674	-1 562	-2 233
Interest Paid	-24 968	-13 100	-22 224
Dividends Paid	-30 332	-7 875	-15 750
Proceeds from Issuance of Shares	3 152	0	29 464
Total Cash Flows from Financing Activities	-99 682	6 174	-21 635

Total cash flows	8 748	30 454	27 113

Cash and Cash Equivalents at Beginning of Period	87 115	60 002	60 002
Cash and Cash Equivalents at End of Period	95 863	90 456	87 115
Change in Cash and Cash Equivalents	8 748	30 454	27 113

Aktsiaselts Infortar operates in seven countries, the company’s main fields of activity are maritime transport, energy and real estate. Aktsiaselts Infortar owns a 68.47% stake in Aktsiaselts Tallink Grupp, a 100% stake in AS Eesti Gaas and a versatile and modern real estate portfolio of approx. 116,000 m2. In addition to the three main areas of activity, Aktsiaselts Infortar also operates in construction and mineral resources, agriculture, printing, taxi business and other areas. A total of 105 companies belong to the Aktsiaselts Infortar group: 96 subsidiaries, 4 affiliated companies and 5 subsidiaries of affiliated companies. Excluding affiliates, Aktsiaselts Infortar employs 6,108 people.

Additional information:
Kadri Laanvee
Investor Relations Manager
Phone: +372 5156662
e-mail: kadri.laanvee@infortar.ee
www.infortar.ee/en/investor

Attachments

The MIL Network –

January 26, 2025

MIL-OSI Economics: Asian Development Blog: Empowering Women with Disabilities: Key Actions for Inclusive Sports in the Pacific

Source: Asia Development Bank

Inclusive sports can empower women with disabilities, and foster accessibility, social integration, and gender equality in the Pacific. Recent Paralympic milestones and policy examples illustrate the ongoing need for supportive infrastructures and greater representation to create equitable opportunities in sports.

The importance of sport for women with disabilities cannot be overstated. It provides a platform for empowerment, fostering physical and mental well-being, and breaking societal barriers related to gender and disability. Participation in sports helps build confidence, resilience, and a sense of community.

The Paralympic Games have been instrumental in setting standards for inclusion, showcasing the incredible talents and achievements of athletes with disabilities on a global stage. By promoting gender equality and providing equal opportunities, the Paralympics inspire change and highlight the importance of accessibility and inclusivity in sports.

This year’s Paralympic Games in Paris marked a historic milestone with a record 1,983 women, or 45% of participants, across 549 medal events in 22 sports, making it the most gender-inclusive Paralympics ever. It was also a historic moment for the Pacific region, as it sent its largest contingent of athletes to the Paralympic Games.

Thirteen athletes, comprising seven women and six men, represented six countries to compete in para-athletics and para-taekwondo: Fiji, Kiribati, Papua New Guinea, Solomon Islands, Tonga, and Vanuatu. According to the Oceania Paralympic Committee, the Pacific athletes “not only represent their nations but also the aspirations of the entire Pacific region.”

Among the remarkable athletes was Tongan discus thrower Meleane Vasitai Leaaepeni Falemaka, known as Vasi, who competed in the Paralympic Games for the first time. She is making her mark on the global stage as Tonga’s sole representative in the Paralympic Games where she competed in the women’s F37 discus throw event. Prior to the Paralympics, Vasi achieved her personal best throw at the World Para Athletics Grand Prix April 2024 held in Marrakech, Morocco.

Women with disabilities outnumber men with disabilities in most Pacific countries, largely due to longer life expectancy and the increased likelihood of acquiring disabilities in old age. Persons with disabilities are overrepresented among the poorest of the poor across the region and face economic and social exclusion, violence, and accessibility challenges.

Despite this, women with disabilities often do not get to make decisions that affect them. Evidence from 19 countries shows that only 2.3% of women with disabilities held a position as a legislator, senior official, or manager. Only four out of 18 countries in the region had a “woman with disability” in parliament.

Sports provide a powerful platform for empowering women with disabilities, fostering inclusion, and challenging societal barriers.

The following actions are needed to increase the inclusion of women with disabilities in sports:

Enhance policy and financing for gender and disability inclusive sport. Governments must enact robust legislation to eliminate accessibility barriers in multiple areas such as transport, housing, services, education, and sport. For example, Brazil passed the “Inclusion of People with Disabilities Act” before the Rio 2016 Paralympics that aimed to enhance the lives of the nearly 50 million people with impairments in Brazil. This Act increased the amount allocated to para-sports from the gross revenues of the federal lotteries, from around $26 million to $49 million per year.

Promote accessibility and inclusivity of sport. The Paralympics have made strides in accommodating athletes with disabilities through modified rules and regular reassessments by classifiers. Classification varies across sports, for example, swimming has up to 10 eligible impairment types, and classifications depend on how much an impairment affects performance.

In wheelchair basketball, players are rated from 1.0 to 4.5 based on their disability level with a maximum point total allowed per team to ensure competitive balance. This approach enhances fairness and integrity in competitions, creating a more equitable environment for all Paralympic athletes.

Include women with disabilities in stakeholder consultations. This can be done through partnerships with local organizations and women’s groups where women with disabilities take on leadership and decision-making roles. Mapping stakeholders supporting people with disabilities is crucial in creating awareness among all stakeholders and policymakers in sport on the needs of women athletes with disabilities.

Ensuring that sports facilities are accessible and safe for women with disabilities. Sports facilities must be designed within the lens of gender and disability. This not only promotes physical health but also enhances social integration and economic opportunities for people with disabilities.

Governments and development partners’ financial commitments to accessibility improvements are essential. For instance, prior to the 2008 Paralympic Games in Beijing, the People’s Republic of China invested over $150 million to make 14,000 facilities accessible across the country. Similarly, for the Rio 2016 Games, nearly $1 million was allocated to enhance access to major tourist attractions and sports arenas.

Promoting media representation to change perceptions. Media coverage can significantly change societal perceptions. For example, UK’s Channel 4 won various awards for its coverage of the London 2012 Paralympics, which included presenters with disabilities.

The channel spent $1.2 million searching for, recruiting, training and developing the skills of media professionals to ensure that half of the on-screen talent during the Games consisted of persons with disabilities. The channel’s “Meet the Superhumans” commercial combined powerful imagery of athletes with their extraordinary stories creating a compelling narrative that resonated widely and likely changed attitudes towards Paralympic sports.

Encouraging women with disabilities to take up sports. Sport enables women with disabilities to develop social skills and independence. Families and carers can help foster the love for sport by initiating play and developing interest, which can also serve as a shared activity. Sport can also be a transformative tool for women to demonstrate their abilities, which can help reduce the longstanding negative perceptions and gender stereotypes associated with women with disabilities.

By addressing these issues, we can create an environment where athletes like Vasi can thrive, inspiring future generations and contributing to a more inclusive and equitable society in the Pacific.

MIL OSI Economics –

January 26, 2025
MIL-OSI Banking: Secretary-General of ASEAN takes part in Electric Vehicle (EV) Delivery Ceremony and Roundtable on the Development of EV Ecosystem in ASEAN

Source: ASEAN

As part of the activities to commemorate the 35th Anniversary of ASEAN-ROK Dialogue Relations this year, Secretary-General of ASEAN, Dr. Kao Kim Hourn, today visited the Hyundai Motor Manufacturing Indonesia, in Bekasi Regency, West Java, where he participated in the EV delivery ceremony. Hyundai EV was handed over by the Mission of the Republic of Korea (ROK) to ASEAN to the ASEAN Secretariat as part of the EV project funded by the ASEAN-ROK Cooperation Fund (AKCF). Following the handover ceremony, Dr. Kao also participated in the Roundtable on the Development of EV Ecosystem in ASEAN. The event, which highlighted the trends in the EV industries of ASEAN Member States and the ROK was organised by the Mission of ROK to ASEAN and participated by Ambassador of ROK to ASEAN Lee Jang-keun, members of the Committee of Permanent of Representatives to ASEAN, staff of the ASEAN Secretariat and that of the ROK Mission, EV experts, along with other invited guests.

The post Secretary-General of ASEAN takes part in Electric Vehicle (EV) Delivery Ceremony and Roundtable on the Development of EV Ecosystem in ASEAN appeared first on ASEAN Main Portal.

MIL OSI Global Banks –

January 26, 2025
MIL-OSI: The road ahead – Terranet’s product development plan for BlincVision 2025
Source: GlobeNewswire (MIL-OSI)

Terranet presents its updated product development plan for BlincVision, an advanced driver assistance system, with clear goals set for 2025. Customer projects have been initiated, and the goal for the first half of the year is to develop an MVP (Minimum Viable Product) to pave the way for volume agreements and meet market demand.

BlincVision sets a new standard for anti-collision solutions by combining patented event camera technology with AI-trained software. The system uses minimal data processing, making the technology faster than any other solution on the market. It enables real-time decision-making and raises the bar for safety in the automotive industry.

BlincVision’s functionality has been demonstrated through a prototype, which has been crucial in bringing the product closer to potential customers, such as automakers or their major suppliers. The next step is to work together with these stakeholders to adapt and integrate the product into the vehicle’s existing safety systems, enhancing safety and improving the driving experience.

Terranet is following its product development plan and communicates the progress frequently. After many years of research and development, a prototype of BlincVision was showcased at the beginning of 2024, first in a lab environment and later outdoors on a moving vehicle. In the fall of 2024, the system was also tested on an accredited test track, where BlincVision performed a full autonomous braking.

BlincVision is an anti-collision solution designed to improve or replace other safety systems in a more cost-effective way, increasing safety and saving more lives. With stricter safety requirements in the automotive industry, systems like BlincVision will be crucial for both driver-operated and autonomous vehicles in the future.

Terranet is now in a product development phase where all employees are focused on optimizing the prototype with valuable feedback from vehicle manufacturers and major suppliers. This work will lead to an MVP (a first version of the product that can be tested on the market), a product that can be widely offered to vehicle manufacturers and suppliers. Once the MVP is fully integrated into a vehicle, work towards volume production can begin.

Key milestones in BlincVision’s product development for 2025 are as follows:
- Q1:
  Proof of Concept results with a partner via MobilityXlab and initiate the next customer project.
- Q2:
  Further development of the existing prototype into an MVP (Minimum Viable Product)
- Q3-4:
  Verification of the MVP in customer vehicle and adjustments based on market demands.
  A partnership agreement is signed, initiating dialogue on volume production.
”We are in an incredibly exciting phase in Terranet’s history as we now integrate BlincVision into vehicles from car manufacturers and their suppliers to strengthen safety systems. Autonomous vehicles represent a significant market and are a crucial part of the vision of zero traffic deaths,” says Magnus Andersson, CEO of Terranet, on behalf of Terranet Management.

For more information, please contact:
Magnus Andersson, VD
E-mail: magnus.andersson@terranet.se

About Terranet AB (publ)
Terranet’s goal is to save lives in urban traffic. The company develops innovative technical solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV). Terranet’s anti-collision system BlincVision laser scans and detects road objects up to ten times faster than any other ADAS technology available today.

The company is headquartered in Lund, with offices in Gothenburg and Stuttgart. Since 2017, Terranet has been listed on Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B). Follow our journey at: www.terranet.se

Attachment
- 241104_Terranet_PM_Roadmap_ENG
The MIL Network –
January 26, 2025
MIL-OSI China: China’s commerce minister urges active role from France in reaching EV trade solution

Source: China State Council Information Office 3

China’s Commerce Minister Wang Wentao has called on France, as a key European Union (EU) member, to play an active role in pushing the European Commission to show sincerity and meet the Chinese side halfway to secure a solution concerning the EU’s anti-subsidy probe into Chinese electric vehicles (EVs).

Wang made the remarks during a meeting with French Minister Delegate for Foreign Trade and French Nationals Abroad, attached to the Minister for Europe and Foreign Affairs, Sophie Primas, in Shanghai on Sunday, according to the Ministry of Commerce. Wang and Primas met ahead of the seventh China International Import Expo (CIIE), which starts this week.

The EU’s anti-subsidy probe into China-made EVs has severely hindered cooperation between EU and Chinese auto industries, currently a critical concern for industries on both sides, Wang said, noting that technical teams from China and the EU are presently engaged in a second round of consultations.

Wang reiterated China’s commitment to addressing China-EU trade friction through dialogue and consultation — based on respect for facts and compliance with WTO rules.

Wang said that unlike the EU’s anti-subsidy probe initiated without industry applications, China’s trade remedy investigations targeting certain EU goods, such as brandy, pork and dairy products, were launched at the request of domestic industries in full compliance with WTO rules and Chinese laws and regulations.

He stressed that China would continue to handle these investigations in accordance with laws and regulations, safeguard the legal rights of enterprises from EU member states, including France, and base its rulings on evidence and facts.

China is ready to work with the European Commission to seek a proper solution in this respect, Wang added.

Noting that this year marks the 60th anniversary of the establishment of China-France diplomatic relations, with France featuring as a guest country of honor at the CIIE again, Wang said that over 100 French companies are set to participate in the expo this year — the highest number among EU countries, highlighting French companies’ strong interest in the Chinese market.

Primas affirmed France’s firm commitment to deepening economic and trade relations with China and expressed her pleasure at France’s role as a guest country of honor at the expo again this year.

With agricultural and food products being vital elements of France’s trade with China, she conveyed France’s significant concern over China’s investigations aimed at EU products, including brandy.

France does not wish to see further escalation of current EU-China trade tensions and hopes both sides will resolve trade disputes through consultation, Primas said.

MIL OSI China News –

January 26, 2025
MIL-OSI Asia-Pac: HK a unique gateway: SJ

Source: Hong Kong Information Services

Secretary for Justice Paul Lam

The Hong Kong Legal Week is an annual flagship event of the Department of Justice. Since its inception in 2019, the Hong Kong Legal Week has served as a dynamic forum where legal professionals, scholars, judges and experts come together to discuss critical legal issues that resonate not only within Hong Kong but (also) throughout the wider Asia-Pacific region and beyond.

The theme of this year is “Hong Kong Common Law System: World-Class Springboard to China & Beyond”. It emphasises Hong Kong’s unique role as a gateway between China, the Asia Pacific and the world. Under the “one country, two systems” principle, Hong Kong is the only common law jurisdiction within China. Our strong legal foundation, coupled with our close ties with and support from the Mainland, positions us as a critical hub for legal and economic collaboration across the region and beyond.

Private law summit

We begin this week with today’s Asia-Pacific International Private Law Summit 2024. Building on the success of the inaugural summit in 2022, the Department of Justice once again partners with the International Institute for the Unification of Private Law (UNIDROIT) to organise this summit under the theme “Springboard to Opportunities: Utilising International Private Law & Technology to Facilitate Access to Credit, Investment, & Sustainable Development in the Asia-Pacific Region”.

The Asia-Pacific region is home to enormous economic potential and encompasses a diverse array of legal systems. While this diversity enriches our legal and cultural landscape, it also introduces complexities and uncertainties for businesses navigating cross-border transactions. To unlock the region’s full economic potential and ensure long-term sustainable growth, harmonisation and modernisation of private law across the region is essential.

Recognising this need, today’s summit gathers leading legal minds from across the Asia Pacific, together with experts from UNIDROIT, to explore how the unification and co-ordination of various areas of private law can support economic growth and facilitate smoother cross-border interactions throughout the region. We will be hearing from them on how international private law and emerging technologies can unlock new opportunities for sustainable economic growth across the region, and how Hong Kong may contribute in this regard.

Collaboration with UNIDROIT

In the past few years, the Department of Justice has closely collaborated with UNIDROIT to promote the development, implementation, and deeper understanding of private international law and international commercial law across the Asia-Pacific region.

In addition to these collaborative efforts, we are grateful for UNIDROIT’s strong support to the Department of Justice’s secondment programme, offering Hong Kong’s legal professionals from both the public and private sectors the valuable opportunity to work at the UNIDROIT Secretariat in Rome. This experience not only deepens their expertise in international legal issues, but also bolsters Hong Kong’s capacity in foreign-related legal matters.

I am very pleased to note that one of our former secondees will be moderating a panel later this morning, which testifies to the success of the secondment programme.

Capacity building

The secondment programme is one of the Department of Justice’s many policy initiatives providing professional development opportunities to our legal talents. To further strengthen Hong Kong’s position as a leading international legal and dispute resolution services centre in the Asia-Pacific region, the Department of Justice places great importance on nurturing legal talents with a global perspective and proficiency in foreign-related legal affairs. We are committed to establishing Hong Kong as a leading centre for capacity building in international law.

As outlined in our Chief Executive’s 2023 and 2024 Policy Address, the Department of Justice is setting up the Hong Kong International Legal Talents Training Academy. The academy will regularly organise practical training courses, seminars, international exchange programmes and more to promote exchanges among talent in regions along the Belt & Road. It will also provide training for talent in the practice of foreign-related legal affairs for the country, and nurture legal talent conversant with international law, common law, civil law and the country’s legal system.

A dedicated office and an expert committee have already been set up to facilitate the establishment of the academy. We are grateful to have Prof Tirado (International Institute for the Unification of Private Law Secretary-General) as a member of the expert committee, and I am pleased to see many of our committee members participating in today’s summit.

To officially mark this new initiative, I am excited to announce that the launch ceremony for the academy will take place on the final day of the Hong Kong Legal Week. I warmly invite all of you to join us for this significant occasion.

Other events

I also warmly welcome you to participate in an array of other events this week. Tomorrow, we will have the Second Legal Forum on Interconnectivity & Development co-organised with the Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Hong Kong Special Administrative Region. At the legal forum, we are very pleased to have the General Counsel of the Asian Infrastructure Investment Bank deliver a keynote address on promoting good governance and high-quality development under international law. Legal experts will also share their insights on Hong Kong’s role in China’s institutional opening up, and rule of law as a risk management mechanism to safeguard sustainable development.

On Wednesday, we will host events under the theme “Beyond Litigation: The Vibrant Landscape of Alternative Dispute Resolution of Hong Kong”. The day will explore three topical issues – the role of mediation in promoting a culture of mutual respect, harmony and inclusiveness, use of artificial intelligence in alternative dispute resolution, as well as the resolution of sports disputes. There will also be the 2024 Hong Kong Mediation Lecture in the evening, exploring the unique challenges and opportunities involved in the use of mediation in deals relating to natural resources.

Thursday’s programme will focus on strengthening the rule of law in the Greater Bay Area. We will hear from experts on the proof of Hong Kong law and foreign law in the Mainland, the arrangement on mutual legal assistance in civil and commercial matters between the Mainland and Hong Kong, as well as legal services and juridical relations to facilitate and protect trade and social interactions between the Mainland and Hong Kong. The day will also feature a mock mediation session led by mediators from Mainland China, Hong Kong, and Macau, and a discussion on the Greater Bay Area mediation platform.

On Friday, apart from the launching ceremony of the academy in the afternoon that I have just mentioned, we will explore how the rule of law in Hong Kong, together with different components of Hong Kong’s legal and judicial system, are essential to provide the best business environment from the perspectives of our legal services profession and our enterprises, and how our legal professionals can play an important role along the Belt & Road.

Alongside this week’s discussions, we are also featuring a special exhibition on the achievements in the construction of the rule of law of the People’s Republic of China in the modern era, co-organised by the Ministry of Justice of China and the Department of Justice, in celebration of the 75th anniversary of the founding of People’s Republic of China. The exhibition highlights key milestones in China’s legal evolution, both domestically and in foreign-related areas, over the past 75 years.

Conclusion

Ladies and gentlemen, as we look ahead to the discussions that will follow, I hope today’s summit will inspire all of us to explore new ideas and opportunities. Let’s make the most of this moment to engage in meaningful exchanges and drive forward the future of international law.

On this note, I wish today’s summit every success and extend my sincere appreciation to all of you for joining us, whether online or in person.

Secretary for Justice Paul Lam gave these remarks at the Asia-Pacific International Private Law Summit 2024, part of Hong Kong Legal Week 2024, on November 4.

MIL OSI Asia Pacific News –

January 26, 2025
MIL-OSI: 4BIO Capital Strengthens Investment Team

Source: GlobeNewswire (MIL-OSI)

Press Release

LONDON, 4 November 2024 – 4BIO Capital (“4BIO” or “the Group”), an international venture capital firm focused solely on the advanced and emerging therapies sector, announces today the appointments of Dr. Therese (Thera) Liechtenstein as an Investment Director based in Munich and Tay Salimullah as a Venture Partner based in Chicago.

Dmitry Kuzmin, Managing Partner at 4BIO Capital, said: “Thera and Tay’s extensive experience and innovative perspectives will be invaluable to 4BIO as we continue to drive forward our mission of investing in transformative therapies. We are always keen on the diversity of thought and expertise that strengthens 4BIO’s unique edge as the leading advanced and emerging therapies investor. We are very excited to see where their thesis and experience take them and look forward to their contribution to our portfolio and investments.

Thera Liechtenstein, newly appointed Investment Director commented: “I am thrilled to join 4BIO Capital and contribute to the firm’s mission of fostering advanced and emerging therapies. I look forward to playing a role in bringing transformative treatments to patients with significant unmet needs.”

Tay Salimullah, newly appointed Venture Partner added: “This is a remarkable opportunity to work with a team dedicated to advancing transformative therapies. I look forward to leveraging my experience to support innovative companies that are poised to make a significant impact on healthcare and patient outcomes.”

Thera Liechtenstein joins 4BIO Capital from M Ventures, the corporate venture arm of Merck KGaA, where she was a Senior Investment Director in the Biotechnology team. At M Ventures, Thera led company creations, new investments in Seed and Series A rounds, as well as follow-on investments in companies across Europe and North America, and supported these companies as a member of the board of directors. Previously Thera managed strategic projects for the Healthcare business of Merck. Prior to Merck, Thera was a client relationship manager in the field of wealth preservation, at Industrie- & Finanzkontor Ets. She has a strong academic background having received her PhD in Immuno-Oncology from University College London, an MSc in Biomedical Sciences from the University of Amsterdam, and a BA in Biology and Business studies from New York University.

Tay Salimullah has over 20 years of leadership experience in the rare disease and MedTech sectors, with a proven track record in incubating and scaling innovative, high-value technologies, including cell and gene therapies. He spent over a decade at Novartis in a series of leadership roles. As an Executive Committee member at Novartis Gene Therapies, Tay executed a new commercial model for Zolgensma® and Kymriah®, securing approvals in more than 55 countries, helping to treat over 4,000 patients, and generating more than $5 billion in revenue. Prior to his roles at Novartis, Tay spent over ten years working in a variety of investment and healthcare roles, including a decade at Pfizer where he held several strategic and commercial roles. His expertise spans drug development, pricing science, market access, and operational excellence in high-value healthcare solutions. Tay holds a BSc in Management Sciences from the University of Brunel, London.

– Ends –

Contacts

About 4BIO Capital

4BIO Capital (‘4BIO’) is an international venture capital firm headquartered in London, focused solely on the advanced and emerging therapies sector. The 4BIO team, which has an unrivalled network within the advanced therapy sector, comprises leading advanced therapy scientists and experienced life science investors.

The firm maintains a global footprint across the US, Europe and Asia with an objective to create, invest in, support, and grow early-stage companies. Its ultimate goal is ensuring access to potentially curative therapies for all patients, with a specific focus on viable, high-quality opportunities in cell and gene therapy, RNA-based therapy, targeted therapies, and the microbiome.

4BIO is currently investing out of its Fund III, having secured support from prominent global institutional investors, including the Children’s Minnesota, UPMC, Development Bank of Japan, Kyowa Kirin, Exor, and many other endowments and foundations. For more information, connect with us on LinkedIn and X (@4biocapital) and visit www.4biocapital.com.

The MIL Network –

January 26, 2025
MIL-OSI: Municipality Finance issues EUR 20 million notes under its MTN programme

Source: GlobeNewswire (MIL-OSI)

Municipality Finance Plc
Stock exchange release
4 November 2024 at 10:00 am (EET)

Municipality Finance issues EUR 20 million notes under its MTN programme

Municipality Finance Plc issues EUR 20 million notes on 5 November 2024. The maturity date of the notes is 5 November 2035. MuniFin has a right, but no obligation, to redeem the notes early on 5 November 2025. The notes bear interest at a fixed rate of 3.87% per annum until 5 November 2025, after which the interest is paid at 3.00% per annum, unless MuniFin redeems the notes early.

The notes are issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and the final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 5 November 2024.

UBS Europe SE acts as the dealer for the issue of the notes.

MUNICIPALITY FINANCE PLC

Further information:

Joakim Holmström
Executive Vice President, Capital Markets and Sustainability
tel. +358 50 444 3638

MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.
The Group’s balance sheet totals over EUR 50 billion.

MuniFin builds a better and more sustainable future with its customers. MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, corporate entities under their control, and non-profit organisations nominated by the Housing Finance and Development Centre of Finland (ARA). Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

Read more: https://www.kuntarahoitus.fi/en/

Important Information

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

The MIL Network –

January 26, 2025
MIL-OSI: Nokia signs 5G deal extension with Taiwan Mobile
Source: GlobeNewswire (MIL-OSI)

Press Release
Nokia signs 5G deal extension with Taiwan Mobile
- Nokia to modernize Taiwan Mobile’s 5G network and upgrade existing 4G infrastructure with equipment from industry-leading AirScale portfolio.
- Deal to enhance experience for customers in both urban and rural environments with premium capacity and coverage.
- Taiwan Mobile targeting sustainability goals with Nokia’s energy-efficient portfolio.
4 November 2024
Espoo, Finland – Nokia has signed a one-year 5G contract extension with Taiwan Mobile to boost the performance and capacity of Taiwan Mobile’s 5G network as well as upgrade its 4G/LTE network. This will add capacity and coverage and provide a better end-user experience for TWM’s customer base of approximately 10 million including in rural areas. The move comes following the merger of Taiwan Mobile and Taiwan Star last year and will help prepare Taiwan Mobile’s network for the 5G-Advanced era.

Under the deal, Nokia will supply equipment from its industry-leading 5G AirScale portfolio for the first time in Taiwan. This includes Nokia’s next-generation, modular, high-capacity AirScale baseband solutions, Habrok 32 and Osprey 32 Massive MIMO radios and Remote Radio Head products. These are all powered by its energy-efficient ReefShark System-on-Chip technology and combine to provide superior coverage and capacity. The project will see thousands of existing LTE sites modernized for better energy efficiency supporting Taiwan Mobile’s sustainability targets. Taiwan Mobile will also install Nokia’s IPAA+ solution helping them to add additional antennas in constricted urban environments.

Additionally, Taiwan Mobile will implement Nokia’s industry-leading Carrier Aggregation technology to its network. This combines radio spectrum to significantly boost the data rates offering customers better throughput, capacity, and performance.

Nokia has partnered with Taiwan Mobile for over 20 years and has previously provided 2G, 3G, and 4G mobile networks covering RAN, mobile core, and voice core. Nokia has most recently supported Taiwan Mobile in the deployment of its nationwide 5G infrastructure including over 3,000 new cell sites.

Jamie Lin, President at Taiwan Mobile, said: “This expanded partnership with Nokia marks a significant step forward in our commitment to providing our 10 million customers with the best possible 5G experience, while also supporting the growing needs of over 1 million IoT devices across our network. By leveraging Nokia’s cutting-edge AirScale portfolio, we are not only enhancing network performance and capacity but also reinforcing our dedication to sustainability and advancing our Telco+Tech strategies. This collaboration will enable us to deliver superior connectivity to both urban and rural areas, ensuring that all our customers can enjoy the full benefits of the 5G era.”

Tommi Uitto, President of Mobile Networks at Nokia, said: “Nokia is partnering with Taiwan Mobile to modernize their 5G and 4G networks to deliver enhanced performance and coverage and better customer experience. We are deploying the latest equipment from our energy-efficient AirScale portfolio, which will enable a greener network with reduced environmental impact, contributing to the operator’s sustainability goals.”

Resources and additional information
Webpage: Nokia 5G
Product page: AirScale Radio Access
Product page: MantaRay Network Management
Webpage: Nokia 5G Core
Webpage: Nokia Voice Core

About Nokia
At Nokia, we create technology that helps the world act together.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable, and sustainable networks today – and work with us to create the digital services and applications of the future.

Media inquiries
Nokia Press Office
Email: Press.Services@nokia.com

Follow us on social media
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The MIL Network –
January 26, 2025

Category: Business

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