In Tibet, China will start work on the worldÂ’s highest airport this year. The airport is to come up in TibetÂ’s Nagqu county, the State media Xinhua news agency has said. The airport will be about 100 m higher than the existing record holder in another part of the remote and restive region. Nagqu airport will be at an altitude of 4,436 m above sea level, slightly higher than the airport in Qamdo town at 4,334 m.
Author: admin (Infratructure Today)
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GMR to seek damages
Seeking a compensation of over $800 million from the government of Maldives Indian infrastructure company GMR is mulling to sue against the government in an international arbitration tribunal. GMR was forced to hand over Male airport to the Maldives government recently. The Indian company GMR, which was operating the Ibrahim Nasir International Airport at Male at an investment of $511 million, says it feels cheated for having the contract cancelled over an illegal component - airport development
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Kerala monorail projects
Kerala Monorail Corporation (KMCL) set up a subcommittee to hold talks with Delhi Metro Rail Corporation (DMRC) on terms and conditions for consultancy for two monorail projects. The subcommittee would negotiate with DMRC and submit a report at the next board meeting of the KMCL scheduled for the second week of January.
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IIFCL to raise funds via bond issue
India Infrastructure Finance Company (IIFCL) plans to use the fund raised through the forthcoming bond issue for long-term funding to PPP projects in sectors like power, infrastructure, etc, Chairman and Managing Director S K Goel said
The companyÂ’s Rs 1,500 crore bond issue with green shoe (over-allotment) option of up to the shelf limit of Rs 9,215 crore would open on December 26 and close on January 11. The bonds would be allotted on a first-come first-serve basis.
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IDFC eyes stake in Gurgaon expressway project
Infrastructure Development Financial Company (IDFC), which is one of the lenders for the Delhi-Gurgaon expressway project, is in the process of picking up stake in the project, reports suggest
The concessionaire of the project-- Delhi-Gurgaon Super Connectivity (DGSCL) --can reduce its share from 100 percent to 26 percent two years after tolling starts and has to report to NHAI in such case, according to an agreement with NHAI.
IDFC is the lead financial institution in a consortium of lenders
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Dredging Corp, ports to raise ` 3,500 cr via infra bonds
Union Shipping Secretary PK Sinha has said that through tax-free infrastructure bonds the Jawaharlal Nehru Port, Mumbai, Ennore Port and Dredging Corporation of India (DCI) will together raise around Rs 3,500 crore.
While JNPT will issue the bonds for Rs 2,000 crore to finance its dredging work, the Ennore Port (EPL) will raise
Rs 1,000 crore for infrastructure augmentation. The DCI will raise Rs 500 crore to procure a new dredger.
The Government, in the previous budget, had allocated Rs 5,00
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Six states agree for discom debt rejig package
For the Union governmentÂ’s debt restructuring plan for State-owned power distribution companies, at least six states have agreed to subscribe. The deadline for States to opt for the package has been extended by three months and would now end on March 31. The three-month period would be used to accommodate agreements by more states and ensure consensus building among stakeholders.
Once accepted by all states, the Rs 1.9-lakh-crore package is expected to bail out financially-stressed distribution
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National Electricity Fund
The Union Cabinet Committee on Economic Affairs (CCEA) has approved the setting up of National Electricity Fund (Interest Subsidy Scheme) to provide interest
subsidy aggregating to Rs 8,466 crore on loan disbursement amounting to Rs 25,000 crore to the State power utilities both in public and private sector, to improve the distribution network.
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GMR to issue ` 316 cr bond issue for hÂ’way project
GMR Group would launch long-term infrastructure bond issue for its highway project in January, India Infrastructure Finance Company (IIFCL) said. The Rs 316-crore issue will be partly guaranteed by IIFCL, a state-run infra lender, through its credit enhancement scheme. GMR plans to raise around Rs 316 crore through the issue and IIFCL would guarantee the bonds issue to the tune of 24 per cent.
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RBI norms for lending to small units
In view of the increase in price index and cost inputs, Reserve Bank of India revised sub-targets for lending to the micro and small enterprises sector. According to the new norms, banks must divert 40 per cent of total advances to the sector to micro (manufacturing) enterprises having investment in plant and machinery up to Rs 10 lakh. The existing limit is Rs 5 lakh. The revision is within the overall ceiling of Rs 25 lakh for micro enterprises as defined in the Micro, Small and Medium Enterpr