Finance was probably in his genes as his grandfather was one of the first CAs in South India and his uncle was also a CA. A normal middle class boy born in a small town in Andhra Pradesh, Devatha Prasad became the head of finance of Essar Projects Business Group.
Author: admin (Infratructure Today)
Post
Post
GoaĂâKundapur h’way to be upgraded at Rs 2,600 cr
By spending Rs 2,600 crore the Kundapur-Goa National Highway is going to be upgraded into four-lane road. The National Highways Authority of India (NHAI) and IRB Infrasgtructure Developers have signed an agreement to convert the NH 17 from the present two-lane to four-lane highway. IRB has sought a grant of Rs 536.22 crore from NHAI to execute the project.
Post
HC lifts stay on Sector 56 road project in Gurgaon
The Haryana Urban Development Authority (HUDA) has now started working on a road project near a prominent private school in Sector 56. HUDA has started the work of calculating budget for the road that goes along the private school.
Post
High Court hears appeal filed by KoPT
Calcutta High Court is hearing an appeal filed by Kolkata Port Trust against the decision of a single-judge bench allowing ABG Haldia Bulk Terminals to remove all its equipment from Haldia port. Justice Sanjib Banerjee, on March 22 allowed ABG to remove all its equipment from Haldia port subject to the payment of any customs charges that may have been due
Post
Kerala govt plays down warning on disruption in services
The Port Department of Kerala government denied there would be any disruption in ferry services as boats and other ships were in the process of renewing their annual licences. Sources from the department informed that the boats and ships using the port waters may renew their licences annually and the process was
Post
JNPT revokes cancellation order against DBC
At a recent meeting, the board of trustees of Jawaharlal Nehru (JN) Port decided to continue with the agreement of DBC Port Logistics to operate a container freight station (CFS). The port management was authorized by the board to consider levying a penalty on DBC as a deterrent against potential contractual breaches
Post
Odisha govt awaits report on proposed port project
Commerce and transport Minister of Odisha Subrat Tarai informed that the state government was awaiting a report on the techno-economic feasibility study (TEFS) for the proposed port at Bichitrapur in Balasore district. Sources in the knowhow informed that the threat posed to the nearby Subarnarekha river mouth is a challenge for the proposed captive deep-sea port at Bichit
Post
Vizag port did not get bids for WQ berths project
Private players have not shown interest in bidding for the WQ North berthsĂâ improvement project, which Visakhapatnam Port Trust plans to implement. The port trust did not receive bids for the WQ 7 and 8 berth mechanization under WQ North project when the bids were opened. The port authority wanted to implement the project at a cost of Rs 393 crore. Vedanta and Essar would be main contenders for mech
Post
Finance Minister’s target said to be unrealistic
Industry watchers feel that the target for project implementation given by Finance Minister P Chidambaram to the shipping ministry for 2012-13 is unrealistic. The finance ministry gave a target of achieving a total investment of Rs 35,000 crore and a capacity addition of 244 million tonne during the year. The shipping ministry has managed to achieve 18 per cent of the targeted inves
Post
RBI defers Basel norms for currency derivatives
In a notification, the Reserve Bank of India (RBI) said it delayed the implementation of Basel-III regulations for currency derivatives segment to January 2014. The central bank postponed the implementation for the segment pending resolution of norms regarding trade settlement. But the RBI said the new capital adequacy requirements will be implemented from April 1. In view of the shift in the start date of Basel III implementation, all ins