Larsen & Toubro faces the prospect of cancellation of one of its biggest road building contracts worth almost 3,000 crore as its client GMR Infrastructure has decided to terminate the toll road project for National Highways Authority of India (NHAI). GMR Infrastructure has pulled out of NHAI's biggest road project being set up at a cost of 7,700 crore for the six-lane Udaipur-Kishangarh-Ahmedabad segment of the national highway, citing land acquisition, environmental clearance and toll notificat
Author: admin (Infratructure Today)
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Roads are key to over-all economic development
Road sector plays a key role in the over-all economic development of the country, said the Union Minister of state for Road Transport and Highways Sarvey Sathyanarayana. He was speaking at the 73rd Annual session of the Indian Roads Congress being held at Coimbatore, Tamil Nadu.
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Grameen Koota in talks to raise capital
Bangalore-based micro-finance company Grameen Financial Services (Grameen Koota) is reportedly in talks with a few financial institutions to raise around $10 million capital. According to media reports, the company may raise the fund through private equity investors. It may be recalled that Grameen Koota raised capital earlier from Aavi
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Additional provisioning may hit PSBs
The earnings of public sector banks (PSBs) may take a beating in Oct-Dec 2012 quarter because of an additional provisioning of 0.75 per cent, as directed by the Reserve bank of India (RBI), analysts feel. Analysts expect private sector banks to post better earnings results during the quarter as compared to their public
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Magma expects recovery in equipment finance in H2 of FY14
V Lakshmi Narasimhan, Chief Financial Officer of Magma Fincorp expects recovery in the commercial vehicle and equipment finance segments during the second half of 2013-14. The recovery would have tangible impact on commercial vehicle and equipment finance segments. Owin
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Till December, freight loading of SER rose 4.56%
During the April -December 2012-13, freight loading by South Eastern Railway (SER) rose 4.56 percent to 92.16 million tonne (mn t) as against 88.14 mn t during the year-ago period. Till December 2012, the performance of SER surpassed the target laid down by Railway Board. The divis
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Ishar Gasoil loses oil and gas blocks
Ishar Gasoil, which bid for three oil and gas blocks under the ninth round of the New Exploration Licensing Policy (NELP), failed to secure these blocks as the Cabinet Committee on Economic Affairs (CCEA) rejected them. Owing to the companyÂ’s negative net worth, its bids for the blocks RJ-ONN-2010/1, GV-ONN-2012/1 and
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Adani Gas under CCI scanner
The natural gas distribution service of Adani Gas (AGL) in Faridabad has come under the scanner of the Competition Commission of India after the latter received complaints from Faridabad Industries Association (FIA). FIA is an umbrella body of industrial units in Faridabad (Haryana). The competition commission recei
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Head count at Kandla port falls marginally
Gujarat-based Kandla Port witnessed a marginal decline in its staff strength during 2001-2009, a study by the apex industry body Assocham found. The employee strength has reduced marginally by about 1 percent or so at Kandla, where the number of empl
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NGO seeks probe on revenue loss to Kolkata Port
A non-government organisation (NGO) has sought a commercial audit by the Comptroller and Auditor General of India to ascertain the revenue loss to the Kolkata Port from certain private contracts. According to the NGO the National Forum For PeopleÂ’s Rights, the award of a service contract by the Kolka