Media reports suggest that the National Highways Authority of India (NHAI) is checking status of the ongoing highway projects with the project developers. The move by NHAI is intended to ensure that no more developer exit from his road project like the way GMR Infrastructure and GVK Infrastructure withdrew from their high profile projects recently
Author: admin (Infratructure Today)
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ADB’s kudos to Bihar for road construction works
Asian Development Bank (ADB) has praised road construction work in Bihar and promised all assistance to the State government in its future projects. A lot of good work has been done in Bihar in the field of roads. ADB will provide all assistance to the government in further promoting good roads in the state, Widowati, Director, Transport & Communication division, South Asia department of ADB said. He was in Patna on January 31 for talks on new projects.
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15 firms bid for Mumbai’s Pedder Road flyover contract
In Mumbai, as many as 15 infrastructure companies have evinced interest in the controversial Pedder Road Flyover project and their representatives attended a pre-bid meeting held by Maharashtra State Road Development Corporation (MSRDC) on January 28.
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IDFC gets nod to acquire 74% in Delhi-Gurgaon h’way project
The majority stake owner of Delhi-Gurgaon Superconnectivity, the company which operates the connecting highway between Delhi and Gurgaon, is now set to change for the second time. National Highways Authority of India (NHAI) Board has approved a proposal allowing IDFC, which was one of the key lenders to DS Construction, to take over 74 per cent stake in the project.
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Firms raise more capital through NCDs
Reports indicate that companies raised more than Rs 35,000 crore through issue of non-convertible debentures (NCDs) in 2012, which is higher than the Rs 12,753 crore garnered in the preceding year. Recently, HDFC issued Rs 250 crore NCDs with a green shoe option to raise another Rs 250 crore.The mortgage lender raised the amount to meet general corp
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IL&FS’ infra debt fund to raise $1-bn initially
IL&FS Financial Services informed that the infrastructure debt fund (IDF) floated by it in a joint venture with Life Insurance Corp of India (LIC) may collect up to $1 billion in the beginning. It is learnt that the board of directors had initially advised raising $1 billion and then scaling up the size (eve
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Former minister calls for pvt investments in infra sector
Former Minister of State for Urban Development Sougata Roy remarked that land acquisition is not the only problem in infrastructure projects. He said this while pointing out the need for private sector participation for financing the projects. Addressing a seminar on infrastructure development in the eastern and north-eastern states organised by the Beng
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Odisha’s mineral sector gets offer for aid from World Bank
Odisha State Director of Mines Deepak Mohanty informed reporters that a visiting delegation of the World Bank offered to provide technical assistance for development of mineral sector in the state. The multilateral body would provide support in the field mineral concession agreement, renewal of mining leases, grant of mining leases, socio-economic and envir
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Power Finance Corp to issue Rs 1.5 bn worth bonds
Power Finance Corp (PFC) considers to issue unsecured bonds worth Rs 1.5 billion, for which it received "AAA" rating by Crisil ICRA and CARE. The term of these bonds is six years and the corporation would pay 8.72 percent interest on the bonds. The structure of the bonds is such that they are redeemable in three equal installments. Each bond will offer
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RBI mulls launch of inflation-indexed bonds
Reserve Bank of India (RBI) considers to launch inflation-indexed bonds (IIBs) in order to attract investors who buy gold for protection against inflation. RBI Governor D Subbarao informed reporters that the central bank tries to redesign IIBs after its introduction some years ago failed to attract