Maldives President Mohammed Waheed on November 15 termed the controversial GMR airport project as a bad contract and said it was signed 'conceivably under dubious conditions' by his predecessor Mohammed Nasheed.
Author: admin (Infratructure Today)
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Airbus joins Chinese firm to produce green fuel
To jointly explore an alternative fuel for the aviation industry Airbus has signed a deal with Chinese biofuel producer ENN. Airbus, with its parent company EADS Innovation Works, signed the Memorandum of Understanding (MOU) with ENN, one of the leading biofuel producers in China, to develop the fuel made from algae oil, reported Xinhua.
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GMR says bad times are over for its airport biz
In this fiscal, GMR Infrastructure is hopeful of registering decent growth in its airport vertical. The company which operates in three business segments including power, roads and airport incurred a loss of Rs 179 crore in the September quarter, up around four fold, YoY due to poor show from its power and airport segments.
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GVK ties-up with Indonesia to upgrade Bali airport
For the operation, management and development of commercial facilities at Denpasar International Airport in Bali of Indonesia, India-based GVK Power & Infrastructure has entered into an agreement. The Hyderabad-based diversified infrastructure company manages the operation of the Chhatrapati Shivaji International Airport (CSIA) in Mumbai and the Bengaluru International Airport.
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ArcelorMittal signs $447 mn sale pact
ArcelorMittal has entered into a sale and purchase agreement (SPA) with the head of its joint venture partner Kalahari Resources for sale of its 50 percent stake
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Roskill sees ore prices above $120 till 2014
London based metals and minerals research house Roskill Information Services expects prices to remain above $120 per tonne for 63.5 percent Fe content India
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Ramky achieves financial closure for Hospet road project
For the Rs 1,103-crore Hospet-Chitradurga tollway road project in Karnataka, Ramky Infrastructure has achieved financial closure. The company closed finances through debt syndication of Rs 830 crore to execute the road project.
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BBMP may cancel contractor of Mysore Road work
The Bruhat Bangalore Mahanagara Palike (BBMP) is planning to cancel the agreement with the contractor of Mysore Road widening work as the BBMP is not at all happy with the tardy progress in the work. Presently Mysore Road in Bengaluru is causing inconvenience to road users.
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NHAI to let firms to start projects after land acquisition
The National Highways Authority of India ( NHAI) has decided on rolling out projects only after the contract companies have substantial land required for the project and are given environmental clearance.
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NHAI to secure land, nod before starting road projects
In view of delay in several road projects owing to land acquisition issues, National Highways Authority of India (NHAI) henceforth decided to start road projects only after acquiring substantial land. The authority would also ensure that environmental clearance is in place before starting projects. Through this move, NHAI wants to ensure that once a project starts on ground there is no brake and the objective is timely com