Giving a boost to key segmentssuch as roads and bridges, liquefi ed natural gas (LNG), oil pipelines, water treatment plants, telecom towers, and three-star hotels, the Reserve Bank of India (RBI) accorded them infrastructure status and paved way for them to avail easier funding from banks.
Author: admin (Infratructure Today)
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Bankers to lend `8.3 bn for `11 bn road project
A consortium of bankers agreed to provide Rs 830 crore syndicated loan to Hospet-Chitradurga Tollways (HCTL) for the Rs 1,102.81-crore road project in Karnataka. HCTL is a special purpose vehicle (SPV) formed to undertake the Hospet- Chitradurga road project by Ramky Infrastructure. The consortium of bankers comprises Axis Bank, IDBI Bank, Bank of India, IIFCL, State Bank of Hyderabad, State Bank of Patiala, State Bank of Travancore, Central Bank of India and Oriental Bank of Commerce, Ramky Inf
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Pune Road Devlopment
To develop a road network of 24,569 km in Pune division comprising Pune, Satara, Sangli, Solapur and Kolhapur districts, the Pune Divisional Commissionerate has sought Rs 2,500 crore from the central and the state governments. The commissionerate has also sought around Rs 800 crore for repair of roads.
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Economic Recovery
According to a survey of company CEOs by industry body ASSOCHAM, the economy may revive in the next 12 months because of possible decline in inflation, interest rates and improvement in the global environment. The CEOs expect the situation in the western markets to improve since their central banks are trying to revive consumer confidence.
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Srei 's IDF
Having received approval from the Sebi for setting up an infra debt fund (IDF) through the mutual fund route, Srei Infrastructure Finance would begin the process now and hopes to launch it in January 2013. The Kolkata-based NBFC said that this would be finalised later. IDF is required as the country is set to invest huge amounts into the infra
sector and banks are close to hit their infra exposure limit.
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CIL Price Pooling
Following the rejection of the model proposed by Central Electricity Authority (CEA) for price pooling of imported coal, Coal India (CIL) is in the process of preparing a new model. Reports suggest that the company would fine tune the model proposed by CEA to include all possible scenarios.
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Nabard Loan For K'Taka
Under the Rural Infrastructure Development Fund (RIDF XVIII), Karnataka received Rs 236.18 crore loan from the National Bank for Agriculture and Rural Development (Nabard). Through this loan, the state government would carry out 82 minor irrigation projects, 189 rural road projects and 42 rural bridge projects in the state.
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Slowdown hits NHAIÂ’s projects
The National Highways Authority of India (NHAI) awarded a whopping 49 projects totalling 7,500 km last fi nancial year. But this fi scal, in the fi rst six months, the authority has managed to award just four projects measuring 560 km. NHAI attributes this situation to eco-denomic slowdown. Infrastructure companies, who grabbed every road project on offer last fi scal, are now not showing interest to take up these projects. None of the projects awarded last fi scal was on engineering, procuremen
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Fund crunch delays HP tunnel projects
Three mega traffi c tunnel projects—two of them cleared by the state government in Himachal Pradesh in July 2012—may not take off any time soon. The fate of the projects will depend on the funding provisions, which is expected to run into hundreds of crores of rupees.The Chief Minister Prem Kumar Dhumal had laid down the foundation for one of the projects a fortnight before the Assembly elections were announced. The 1,200-m long Bangana-Dhaneta road tunnel to connect Una and Hamirpur districts w
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Hydel project gets $315 mn ADB loan
A 450 MW hydroelectric project in the Kinnaur district of Himachal Pradesh received $315 million loan assistance from the Asian Development Bank (ADB). The multilateral lending institution entered into a pact to this effect with the Government of India.
The Shongtong Karcham Hydroelectric Project is expected to cost a total of $750 million, with the Himachal Pradesh