As several of road developers are are under stress and are finding it tough to raise debt and equity to finance projects the National Highways Authority of India (NHAI) is seeking to push a relief package for road developers. The agency is looking at allowing a staggered payment which will allow developers to pay a lower upfront premium this year and instead postpone a part of the amount during the latter part of the contract period to make the projects viable.
Author: admin (Infratructure Today)
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Maha expects Rs Rs 2,500-Rs 3,000 cr under PMGSY
In Maharashtra, long-neglected roads may soon get a facelift. After rejecting pleas for funds under Pradhan Mantri Gram Sadak Yojana (PMGSY) till last year, arguing the state had 100 per cent connectivity, the Centre has finally accepted its demand for funds to improve condition of roads in rural areas.
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Govt to infuse Rs 5,000 cr equity into AI
The government on February 28 announced Rs 5,000 crore additional equity infusion for debt-ridden national carrier Air India in the next fiscal as part of its turn around plan. Rs 5,000 crore (has been marked) for equity infusion in National Aviation Company of India (now Air India), according to Budget documents.
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Air India’s performance has improved: Economic Survey
With a positive cash flow, Air India is likely to come out of its precarious financial position in this financial year as its performance has improved considerably. It is expected that the company will achieve positive EBIDTA (earnings before income, taxes, depreciation and amoritization) in the results for the Financial Year 2012-13, the government's key economic document, tabled in Parliament, said on February 27.
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Govt gives concessions to MROs
The Union Budget offered minor concessions to the MRO - maintenance, repair and overhaul industry as the government has increased the time period for consumption or installation of parts and testing equipments imported for maintenance, repair and MRO of aircrafts by units engaged in such activities form the existing three months to a year.
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Air India ups efforts to raise money for its turn around
Apart from leasing its headquarters building in Mumbai, cash-strapped Air India has identified some more properties to monitise them in order to raise Rs 5,000 crore as part of its turn around and financial restructuring plan, Civil Aviation Minister Ajit Singh said on February 27. Air India has identified land at Chennai, Coimbatore and Kolkata, residential plot at DLF Phase-III Gurgaon, a residential apartment in Kolkata and four unoccupied flats in Mumbai, Singh said this in the Lok Sabha.
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IGI airport in Delhi wins International safety award
The IGI airport in Delhi, operated by Delhi International Airport (DIAL), has become the first Indian facility to bag the 'International Safety Award' from British Safety Council. This makes Indira Gandhi International airport (IGI), as the first and the only airport in India to win this prestigious award in field of health and safety.
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Plea to increase AI flights for Leh at reduced fare
Minister for Urban Development and Urban Local Bodies, Nawang Rigzin Jora, on February 28 urged upon the Centre to increase frequency of Air India Flights to at least one flight per day on Delhi-Leh sector besides pushing private aviation companies like spice jet or indigo to operate on this route in the backdrop of closure of Kingfisher Airline.
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Jet fuel price increased by 3.8%
Jet fuel prices were on February 28 hiked by 3.8 per cent, the second increase in rates in as many months. Aviation Turbine Fuel, or ATF, price at T3 terminal in Delhi was hiked by Rs 2,519.83 per kilolitre (kl), or 3.8 per cent, to Rs 70,080.87 per kl from midnight tonight, according to Indian Oil Corp, the nation's largest fuel retailer.
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Bad loans of banks rises
According to the Economic Survey 2012-13, overall non-performing assets (NPAs) of the banking sector rose from 2.36 per cent of total credit in March 2011 to 3.57 per cent in September 2012. Slowdown and the high leverage levels have caused loans to a few industry and infrastructure sectors turning NPAs, the survey notes. Sectors particularly under