Hyderabad-based IVRCL won a contract from the National Highways Authority of India (NHAI) on March 31 last year, to develop a 121-km stretch of road between Rajahmundry and Gundugolanu in Andhra Pradesh. Almost a year later, the company has still not managed to arrange bank loans for the Rs 1,617 crore project.
Author: admin (Infratructure Today)
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Foundation laid for PMGSY’s longest road in Arunachal
Foundation was laid for the longest stretch of road built under the Prime Minister's Gram Sadak Yojna (PMGSY) from Miao to Vijaynagar in Changlang district of Arunachal Pradesh on February 19. Union Minister for Rural Development JairamRamesh laid the foundation. The 157-km road, which will be built under the PMGSY will pass through the Namdapha National Park and is scheduled to be completed within the next three years.
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Mallya gives a surprise to his KFA employees
A section of employees of Vijay Mallya's cash-strapped Kingfisher Airlines (KFA) were in for a surprise on February 19 as the company started paying one month salary dues to them, who have not been paid the dues since a few months. Though there was no statement or assurance from KFA that the salary would be paid on February 19, a section of the employees received salary dues with mixed feelings and that's why its surprise.
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Gujarat to spend Rs 141 cr for better aviation infra
Gujarat government plans to pump in around Rs 141 crore to promote aviation in the state in the next financial year. The amount is more than double of what had been allocated to the sector for the current financial year. The focus will mainly be on developing aviation infrastructure facilities. A senior official from the civil aviation department said that the government wants to strengthen civil aviation network.
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Air India still wary about joining the fare war
Air India is the only one domestic airline that has not joined fare war on February 19 morning. Jet Airways announced one of the biggest fire sales in domestic aviation with low ticket prices of Rs 2,250 on 20 lakh seats on the day. Within hours, IndiGo had matched JetÂ’s fares on many sectors; SpiceJet has already completed a similar firesale last month where it sold 10 lakh tickets at Rs 2,013 each.
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CEC may allow auction of ore dumps in Bellary
Informed sources indicate that the Central Empowered Committee (CEC) may allow the auction of 6 million tonne (mn t) of iron ore dumps at various mines in Bellary district of Karnataka. Earlier, the committee visited various mines in the district and estimated that about 6 mn t of dumps could be auctioned. It is learnt that the CEC may allow auction of th
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Rio Tinto to ship HIsmelt unit to Chinese firm
The Rio Tinto Group decided to ship its steel making equipments based on HIsmelt technology from its plant at Kwinana, Australia to the Chinese steel maker Molong as the latter has a more urgent need for the technology. It may be recalled that the Australian miner earlier agreed to shift the equipment to India at Jindal Steel and Power's (JSPL) existing facility at Angul in Orissa.
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SIMA seeks hike in customs duty on sponge iron
Sponge Iron Manufacturers Association (SIMA), in a pre-Budget memorandum, urged the government to raise customs duty on sponge iron to 10 per cent from the current level of 5 per cent in the union budget 2013-14. The association wants the government to raise duty in order to reduce the rising import of sponge iron. The indu
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PwC India suggests tax benefits for oil & gas sector
PwC India has suggested the government to give some tax benefits to the oil and gas sector. Deepak Mahurkar, Leader Oil & Gas, PwC India recommended the government to make all petroleum sector transactions eligible for classical GST benefit. He proposed the government to include natural gas and coal bed methane in the 'mineral oil' category, in order to q
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Major ports witness fall in container cargo
During Apr-Jan 2012-13, cumulative container cargo volume at major ports declined to 6.43 million tonne (mn t) Twenty Foot Equivalent Units (TEU) from 6.52 million TEU in the year-ago period. This is a fall of 1.45 percent. The tonnage of containerized traffic was relatively flat at 100 mn t. The Port of Jawaharlal Nehru (Nhava Sheva), the countryÂ’s busiest container gateway, han