Gujarat government plans to set up an international financial services centre (IFSC) under Sections 18 and 55 of the SEZ Act on more than 268 acre land at the Gujarat International Financial Tec-City (GIFT City). The state government is awaiting the due-diligence approval of the ministries of commerce and finance for the IFSC. The IFSC would see financial transactions excl
Author: admin (Infratructure Today)
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ONGC gets poor response for CBM block sale
Bids invited by state-run oil explorer Oil and Natural Gas Corporation (ONGC) for picking up its stake in four coal-bed methane (CBM) blocks did not receive strong response. ONGC is said to have received bids from only three firms for the blocks. These firms are UK-listed Great Easte
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KoPT evaluates bids for cargo handling contracts
Reports suggest that Kolkata Port Trust (KoPT) is evaluating the applications submitted by three bidders for the mechanised dry bulk cargo operations at berths 2 and 8 at the Haldia port. The three bidders are TM International Logistics (TMILL), Boxtrans Logistics (India) Services, and a consortium of Singapore-based Ocean Connection and Seap
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IRENA unveils roadmap to double renewables by 2030
According to a new global roadmap launched at the International Renewable Energy Agency (IRENA) Assembly in Abu Dhabi, international efforts are going to double the share of renewable energy by 2030. But efforts are needed to accelerate substantially if they are to be successful, IRENA said.
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NHBF seeks prior approval for highway projects
In a letter to NHAI, the National Highways Builders Federation (NHBF) recommended that highway projects should not be called for bids before securing requisite clearances, for land acquisition, environment, forest and wildlife. NHBF is a lobby body for highway developers and the letter is also addressed to the Highway Ministry and Finance Ministry on
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GVK terminates pact for highway project
GVK Power and Infrastructure terminated an agreement it had with the National Highways Authority of India (NHAI) to convert the Shivpuri-Dewas section of National Highway 3 into four lanes, involving 1,330 lane km. In a filing at stock exchange, the firm said the termination of the agreement for the highway project in Madhya Pradesh was in line with clause 34.8 of the conc
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GVK cancels highway contract with NHAI
After GMR, now it is GVK Power and Infrastructure which has terminated a contract with the National Highways Authority for building a section of road in Madhya Pradesh. GVK Shivpuri Dewas Expressway, a subsidiary of GVK Power and Infrastructure, has terminated the concession agreement, on January 12, executed by it with NHAI, the company said in a BSE filing on January 14.
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CM firm over Mumbai’s coastal road project
Maharashtra Chief Minister Prithviraj Chavan, who has been pushing for the Rs 8,000-crore coastal road project between Colaba and Kandivali, has been receiving warnings from senior ministers of NCP, saying the project is likely to alter the picturesque seashore, which is the main tourist attraction of Mumbai.
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Maha’s e’way safety: Auto body to submit report by Feb 7
A report recommending safety measures to be taken on the Mumbai-Pune Expressway and the Mumbai-Goa highway will be submitted to the Maharashtra government by February 7. The report is being prepared by the Western India Automobile Association ( WIAA).
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Infra firms face hardships over road projects
Finding it difficult to close road contracts undertaken in the build-operate-transfer mode due to delays construction companies are in a quandary over National Highway and State road projects. They are now looking at new norms that place emphasis on the equipment, procurement and construction (EPC) approach.