Out-of-court settlement of disputes is being pursued by the National Highways Authority of India (NHAI) to fast-track highway construction. Developers have made claims of Rs 10,000 crore in several build-operate-transfer projects. Many of these cases have gone to arbitration, locking up funds for developers already squeezed by a drought of bank finance, delayed clearances and overall economic gloom.
Author: admin (Infratructure Today)
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Plan panel clears Rs 5.48 tn outlay for railways in 12th plan
The Planning Commission approved an outlay of Rs 5.19 lakh crore for Indian Railways in the Twelfth Five Year Plan (2012-2017). It may be noted that the railway ministry proposed an outlay of Rs 5.48 lakh crore. This information was given by the Minister of State for Railways Adhir Ranjan Chowdhury in Rajya Sabha. The total outlay cleared by the commission includes
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Panel revokes green nod for Posco project
South Korean steel major Posco will have to take environmental clearance again for at least some part of its proposed Rs 54,000-crore integrated steel plant in Odisha as the statutory environment panel revoked the existing clearance. The company has been asked by the expert appraisal committee on industry to furnish detailed infor
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World Bank chief welcomes idea of BRICS bank
World Bank President Jim Young Kim welcomed the idea of setting up a bank collectively by Brazil, Russia, India, China and South Africa or BRICS countries in order to fund their infrastructure projects. He said every single BRICS country has an enormous infrastructure deficit that simply can't be met by a single institution, certainly not the World Bank in and of itself
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L&T arm to raise $500 mn infra debt fund
In order to invest in distressed assets, particularly in the roads segment, L&T Infrastructure Finance plans to mop up $500-million ( Rs 2,708 crore) by floating its maiden debt fund. Media reports indicate that the fund would also invest in renewable energy, power and urban infrastructure projects
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Banks bet big on retail credit
With credit flow to corporate sector remaining weak, banks are betting big on advances to the retail sector. Banks expect that advances to retail customers would support credit growth in 2013-14 like the previous year. That is because demand for credit from the corporate sector is weak. Although some banks are confident that credit flow to corporate sector would improve eventually, for the time
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Govt may relax norms for low-cost housing, infra
To enable Indian companies access cheaper funds abroad, the Union government might further ease the norms for raising funds through the external commercial borrowing (ECB) window, particularly for low-cost housing and infrastructure sectors like telecom and ports.
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Govt releases Rs 800 cr to Air India
Air India has got Rs 800 crore from the Union Ministry of Civil Aviation. It is the first tranche of the sum assured to Air India this financial year as part of the turnaround plan to infuse equity for the revival of the cash-strapped national carrier. The government reviewed the performance of the airline and is satisfied with the feedback it has received, an official concerned said.
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Ministry asks NHAI to sort out row with road developers
The Union Road Transport Ministry and Highways has asked the National Highways Authority of India (NHAI) to expedite the process of resolving disputes with highway developers by the independent committee set up under the Authority to review individual cases and send its recommendations to the NHAI board. Since its inception earlier this year, the committee has taken up seven cases of pending claims but is yet to resolve any of them, said ministry officials.
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Centre okays widening of Mumbai-Goa h’way into 4-lanes
Government's efforts are on to eliminate head-on collisions on the Mumbai-Goa highway. The lane expansion of the highway's 366-km stretch from Indapur to Zarap has been being inched ahead slowly. The Centre has given in-principle approval to expand the highway from two to four lanes. But ministers and officials involved in the project say that because of factors like seeking clearances, land acquisition and the tendering process, work is unlikely to start before 2015.