GVK Power & Infrastructure may request National Highways Authority of India (NHAI) to reschedule its premium payment for a highway project in Madhya Pradesh. Media reports suggest that the company may submit a proposal to the NHAI on the lines of infrastructure major GMR Infrastructure
Author: admin (Infratructure Today)
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Kerala govt to complete work on national waterways soon
Minister of Ports for Kerala K Babu informed that his government complete the work on the national waterway from Kottappuram to Kovalam soon. Speaking on the sidelines of an event, the minister affirmed that the government was fully committed to the development of water transportation in the state. He said the state government gave utmost impo
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Growth in marine-hull insurance segment may slowdown
Weak financial position of shipping companies may slowdown growth in the marine-hull segment of the insurance industry, reports indicate. Marine-hull insurance is purchased by port authorities, shipowners, shipbuilders, oil- and energy-sector companies, bankers and financiers of ships or vessels who have insurable interest
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SCI, DCI, ports incur avoidable costs
The annual report of the union shipping industry shows that some organisations in the sector incurred an expenditure of about Rs 490 crore, which was avoidable. According to a government audit, pointed out in the report, Dredging Corporation of India (DCI) incurred Rs 165 crore cost owing to lack of professional handling of fuel consumption
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Govt demands dividend from banks
State-run banks received a directive from the union finance ministry to declare a minimum 20 percent of their capital or net profit, whichever is higher, as dividend for 2012-13. The move by the ministry has not gone down well with these banks, who are already facing strain on their balance sheet owing to the rise in the non performing asse
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Tribunal quashes directive of GCZMA
Terming violation of the principle of natural justice,
the National Green Tribunal has set aside the order of
Goa Coastal Zone Management Authority (GCZMA) on the jetties project of Sesa Goa in the northern district of Goa. It may be noted that in March 2011, GCZMA directed the company to stop all activity over the alleged illegal part of the jetties and to remove the unau
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Panel to submit report on Sterlite plant by April end
The four-member committee, appointed by the National Green Tribunal to study the functioning of the copper smelting plant of Sterlite Industries at Tuticorin, would submit its report on April 29. The panel will consist of two members from the Tribunal and one each from Sterlite Industries and Tamil Nadu Pollution Control Board (TNPCB
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RIL, BP chiefs meet PM to discuss investment plans
Reliance Industries (RIL) Chairman Mukesh Ambani and Bob Dudley, head of global energy firm BP met Prime Minister Manmohan Singh and some government officials recently to discuss their investment plans. The two companies, that are jointly operating the KG D6 gas basin in Andhra Pradesh, asked government to clarify regulatory issues plaguing the oil and gas secto
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Majority of developing countries subsidise fuel products
A study by World Bank shows that about two-thirds of the developing countries (considered in the study) have kept domestic prices of one or more petroleum products below market-clearing levels in the past three years. It adds that with the additional burden sharing by the oil and gas companies included, fuel subsidies amount to about 2
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India to invite bids for freight corridor project by May
By next May, the Railway Ministry will invite bids for the first phase of the 1,483-km western freight corridor. The move is part of a strategy to de-congest freight lines and accommodate the growing industrial traffic. The 640-km project-part of the 920 km Rewari-Vadodara stretch-is awaiting approval from Japan International Cooperation Agency (JICA), which is funding the project, to begin financial bidding.