In order to release capital for lending to used construction equipment and other purposes, Srei Equipment Finance plans to securitise Rs 800-900 crore of its assets during the current quarter, reports suggest. The company will focus on financing used construction equipment because growth in sale of construction equipment is slowing.
Author: admin (Infratructure Today)
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HUDCO seeks $150 mn
In order to finance urban infrastructure projects, HUDCO sought financial assistance of $150 million from the ADB. The assistance is sought under the catalysing sustainable finance (CSF) facility, which is a leveraged finance mechanism designed as a financial intermediation loan with linked conditions for lending to sub-projects.
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RBI rate cut
Infrastructure developers and development finance companies cheered the RBI's move to cut policy repo rate in its third quarter review of monetary policy. Infrastructure developers urged banks to pass on the cut in policy rate to borrowers and thereby reduce the cost of funding for infrastructure firms. Also, these companies want the RBI to cut policy rates further in the forthcoming policy reviews.
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Govt prepares policy for metro rail projects
In order to aid state governments in drafting their own feasibility reports for metro rail projects, the Central Government has prepared a consolidated policy for such projects.
The consolidated policy focuses on both public-private partnership (PPP) and government funding models. The Central Government would consider the request for funding from the state government for metro rail projects based on the policy. The government earlier planned to implement metro rail projects in 34 cities that ha
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Odisha to come out with a solar policy in next two months
Targeting a generation of 50 MW of solar power within one year, Odisha government said its comprehensive solar policy would be in place in the next two months. The State Science and Technology Secretary DN Gupta said that private investors were interesĆĀted to put their money in the sector.
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Bihar power corp to privatise distribution
Patna Electric Supply Undertaking (Pesu) has floated tenders to invite private players to bid for the distribution franchise in four towns of the state, including Patna. Bihar State Power Holding Company (BSPHCL) has completed the process of technical bidding for Muzaffarpur, Gaya and Bhagalpur towns as well.
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Uttarakhand to set up committee for PPP projects
Uttarakhand government would take a decision on setting up an Empowered Committee on Infrastructure (ECI) and an Empowered Group of Ministers (EGoM) to clear key PPP infrastructure projects. Even though the state government announced a new PPP policy last year, it has not yet set up the above bodies.
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Goa govt toll collection
The Goa government has notified draft rules which propose charging vehicles for using State highway, district road, village road and bridges, but have exempted Goan private vehicles from this regime. While two wheelers are also exempted, commercial vehicles will have to pay the requisite fees. The draft says that other heavy mechanical vehicles such as mobile crane dozers, earthmovers, road rollers will have to pay Rs 1,000.
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IOC stake sale
The government may restart the process of divesting its stake in Indian Oil Corporation following the considerable rise in the share price of oil companies in recent trading sessions. In 2010, the government deferred its plan to offload 10 percent (of its 78.92 percent) stake in Indian Oil because of poor market condition.
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LPG distribution norms
Union Petroleum Ministry received a request from the Ahmedabad based Consumer Education and Research Centre (CERC) to reconsider the decision to allow only one gas connection for one address. In a letter to the ministry, the CERC argued that the rule could hit the joint family culture in India as it will impose an additional financial burden of purchasing cooking gas at premium rates for big families that will be unable to survive on the limited quota.