Maharashtra government gave in-principle approval to the Rs 21,000-crore Elevated Rail Corridor Project between Oval Maidan and Virar in Mumbai. The state cabinet headed by Chief Minister Prithviraj Chavan gave the approval when the Western Railway General Manager made a presentation of the project at a recent meeting
Author: admin (Infratructure Today)
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Maharashtra govt clears Rs 210 bn elevated corridor project
Maharashtra government gave in-principle approval to the Rs 21,000-crore Elevated Rail Corridor Project between Oval Maidan and Virar in Mumbai. The state cabinet headed by Chief Minister Prithviraj Chavan gave the approval when the Western Railway General Manager made a presentation of the project at a recent meeting
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Govt asks CIL to sign supply pacts with power firms
The Union Coal Ministry has asked Coal India (CIL) to sign fuel supply pacts with the power generation companies, including NTPC, before finalising power purchase agreements with them. The Coal Ministry has directed CIL to sign Fuel Supply Agreement (FSA) with power companies, including NTPC, without waiting for PPAs (power purchase agreements), sources said.
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Govt may set up coal regulatory authority in 4 months
In the next two to four months, Indian government plans to set up an independent regulatory authority for coal sector, Finance Minister P Chidambaram said at the Canada India Business Council meeting. The proposed regulatory authority would become effective mechanisms to address problems being faced in the implementation of coal projects
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Delhi govt to merge its power generation firms
Delhi government has decided to merge two of its power generation companies into a single unit to streamline operations. Delhi Chief Minister Sheila Dikshit said that to ensure better functioning of the generating unit, the Cabinet has decided to merge the Pragati Power Corporation (PPCL) into the Indraprastha Power Generation Company (IPGCL), thereby retaining the latterÂ’s name.
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MP govt takes steps to implement metro rail projects
Urban Development and Administration Minister of Madhya Pradesh Babulal Gaur informed media persons that the state government was taking steps to implement metro rail projects in Bhopal and Indore. He said the state government reached the final stages in the process of inviting tenders to prepare the Detailed Project Report (DPR) for the projects in
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Govt optimistic on loan recovery by banks
Some finance ministry officials expressed confidence that the public sector banks (PSBs) would achieve remarkable improvement in reducing bad loans. Bad loans of state-run banks have been rising because of the slowdown in the economy and weak financial position of
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Companies show strong interest in banking venture
According to informed sources, over 100 entities have shown interest in venturing into banking business following the release of the final guidelines by the Reserve Bank of India (RBI). It may be recalled that in February 2013, the central bank released its guidelines for licensing of new banking operations and invited applications for licenses before July 1, 2013
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Finance ministry gives nod to RBI proposal
The union finance ministry officials gave in-principle approval to the proposal of the Reserve Bank of India (RBI) to do away with the cumbersome procedure of incorporating a company by non-residents and facilitate foreign direct investments (FDI). Reports indicate that the proposal may facilitate inward remittances to meet pre-incorporation expenses of a co
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RINL to set up Rs 25 bn worth steel plant in Rajasthan
Rastriya Ispat Nigam (RINL) plans to set up a 2 million tonne (mn t) steel plant in Banera, Rajasthan with an investment of Rs 2,500 crore. Recently, the state government gave approval for the project and it would issue a Letter of Intent (LoI) soon. In February 2012, the state government is learnt to have sent a letter to the centre for setting up of the plant