In an environment of slowing economy with threats of a double-dip looming larger than ever, the industry has been hoping for some time for some good news from the government. That wait for mining companies just got longer.
Author: admin (Infratructure Today)
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Public procurement: Reforms to make procurement professional
Public procurement has been under scrutiny because it is suspected for poor material quality and corruption. Vinod Dhall explains how a new department in the making, hopes to clean up and bring about systemic reforms in public procurement.
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We have taken specific steps to curb illegal mining
The Centre has been taking several steps in recent months to guarantee that the amount of mineral mined matches that licensed and transported.
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RInfra launches mobile environment monitoring system
Reliance Infrastructure (RInfra) launched a mobile environmental monitoring system at the140-km stretch of Pune-Satara corridor. Shrimat Chhatrapati Udyan Raje Bhonsale, MP, flagged off the mobile van at Annawadi Toll Plaza.
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IIFCL infra credit scheme
The credit enhancement scheme of India Infrastructure Finance Company (IIFCL) may be delayed further, as the finance ministry has asked the state-run lender to try it out for a few months before final launch.
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Infra projects on fast track
Worried by the looming European economic crisis and the slow progress of some major public sector infrastructure projects worth Rs 30,000 crore, which could impact the already sluggish economic growth, the Government has decided to put them on fast track, by addressing logistical and environmental concerns.
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IDFC infra bonds
Infrastructure Development Finance Co (IDFC) will raise at least Rs 100 crore from a foreign institutional investor via five-year bonds at 9.15 percent, marking the first deal after easing of the overseas borrowing norms.
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FIIs to get flexibility in infra bond investments
In a move to stimulate the foreign flows into infrastructure bonds, the Finance Ministry has eased norms for foreign institutional investors (FIIs) for investing in long term infrastruĂÂcture bonds. To lure FIIs, it has reduced lock-up period on such holdings to one year from three years for a five-year bond for overseas institutions investing up to $5 billion in infrastructure bonds.
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18,500-cr boost to DMIC
The Union Cabinet has cleĂÂared the proposal for infusion of Rs 18,500 crore in the Delhi Mumbai Industrial Corridor Development Corporation (DMICDC). The 1,483-km project running through seven states will come up along the proposed Delhi-Mumbai dedicated rail freight corridor.
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Corp Bank plans infra debt fund
Corporation Bank said it is drawing up plans to float an Infrastructure Debt Fund (IDF) and will soon approach its boaĂÂrd for approval. The bank plans to paĂÂrĂÂĂÂtner with other interested players for floating such an infra fund. Earlier, the Reserve Bank of India (RBI) allowed banks and non-banking financial coĂÂmĂÂpanies (NBFC) to sponsor IDF, which can be set up as mutual funds and NBFCs.