An Indian cabinet decision to decentralise shipping arrangements for import of cargo owned or controlled by government departments and state-owned firms will remove an assured business opportunity for local fleet owners.
Author: admin (Infratructure Today)
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FinMin to compile list of projects for foreign governments
The finance ministry will compile a list of projects that can be offered to foreign governments that have pledged billions of dollars in investment. This could be the Narendra Modi governmentĆĀ“s version of the project monitoring group set up by its predecessor to get stalled infrastructure development moving again.
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Visa Steel to invoke strategic debt restructuring tool
Kolkata-based loss-making Visa Steel has said that the lenders of the company in its Joint Lenders Forum (JLF) meeting held on September 22 have decided to invoke Strategic Debt Restructuring (SDR).
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L&T Halol Tollway defaults on loan
L&T Halol Shamlaji Tollway, a 100 per cent special purpose vehicle promoted by L&T Infrastructure Development Project, has defaulted on Rs 1,014 cr payment to lenders due to low toll collections and shortage of cash.
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Andhra Power Finance Corp defaults in debt servicing
State-run Andhra Pradesh Power Finance Corporation has defaulted in debt servicing on bonds worth Rs 3,100 crore. Sister states AP and Telengana are at loggerheads over who should paying bond holders.
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Lanco Infratech shelves asset sale
Debt-ridden infrastructure firm Lanco Infratech has temporarily shelved its asset disposal plans. However, it said it would sell at least 3,000 MW of power assets with an enterprise value of about Rs 25,000 crore in fiscal 2018 and retire around Rs 18,000 crore of debt. At the AGM, Chairman LM Rao said appetite by buyers to absorb large assets is low.
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Efforts to attract FDI paying off: Arun Jaitley
GovernmentĆĀ“s efforts are paying off as India has become the highest FDI destination for greenfield projects, Finance Minister Arun Jaitley said in late September. ĆĀ“Satisfying, our efforts are paying off. India becomes the highest FDI destination for greenfield projects,ĆĀ“ Jaitley tweeted.
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MSTC issues dividend; declares bonus
The Union Minister of Steel & Mines Narendra Singh Tomar was handed over the dividend cheque for the financial year 2014-15 for an amount of Rs 16.37 crore by SK Tripathi, CMD, MSTC.
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India signs loan agreement with ADB
The Government of India has signed a loan with Asian Development Bank (ADB) for $123.51 million for the third tranche of the Infrastructure Development Investment Programme for Tourism. This is for upgrades to tourism infrastructure and services in Punjab, Uttarakhand and Himachal Pradesh.
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Shell bets big on India with its second LNG terminal
Royal Dutch Shell, which set up a 5 million tonne LNG terminal at Hazira in Gujarat nearly a decade back, is targeting to grab a bigger share of the growing demand for imported gas in India.