The Indian Oil Corporation (IOC) is learnt to have sent a team of officials to identify land for the proposed oil depot project in Una district of Himachal Pradesh. The company plans to set up the depot in Una district after the proposed depot project at Kadd village was shelved
Author: admin (Infratructure Today)
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Gas pipeline infra requires Rs 6 tn investment
Union Petroleum Secretary Vivek Rae said the country needs at least an additional 100,000 km length of gas pipeline network across the country. In order to lay this length of pipeline, the country needs
at least Rs 600,000 crore at the rate of Rs 6 crore per km in the next 15-20 years, he said while addressing a sem
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RINL chief calls for reducing cost of operation
There is a need to improve the operation process in steel companies in order to reduce cost of production, AP Choudhary, Chairman and Managing Director of Rashtriya Ispat Nigam (RINL) said in an event. He said the cost of production could be largely reduced through improvement in techno-economic parameters, such as specific energy consumption, raw mat
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Govt seeks rating upgrade from Fitch
At a meeting with the representatives of ratings agency Fitch, union finance ministry officials raised the issue of upgrading the credit rating of the country. However, during the meeting, the global rating agency expressed concerns on how deficits will be met and on the ability of the government to meet revenue targets
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RBI simplifies norms on foreign investment in bonds
The Reserve Bank of India (RBI) has simplified investment norms for foreign investors in the bond market. Earlier, there was a restriction that foreign investors can invest a maximum of $10 billion in treasury bills. Now, the central bank prescribed a overall cap of $25 billion on investment in government bonds, including both long- and short
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Baring PE raises stake in Manappuram Finance
In the last five months, Baring Private Equity Partners India increased its shareholding, in tranches, in the gold loan firm Manappuram Finance by 2.3 per cent. for around Rs 45-50 crore. Following this, the PE firm holds 9.48 per cent stake in the gold loan company, the fund said in a communication to the stock exchange
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NHB to raise funds through ECB
In order to lend to low-cost housing projects, National Housing Bank (NHB) plans to raise $200 million through external commercial borrowing (ECB) in 2013-14. The NHB plans to seek approval from the Reserve Bank of India (RBI) for raising the amount through ECB. In 2012-13, the housing finance regulator could raise funds under ECB as the approval from RBI came in the latter
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Bank credit to infra projects may suffer under Basel III
A recent report by ratings agency Icra said bank credit to infrastructure sector may be affected by the norms of the Basel- III regulation. Credit to infrastructure is long-term in nature, while the deposits of banks is short-term to medium-term. This raises asset-liability mismatch. According to the Basel-III norms, banks must maintain a strict net stable funding ratio (NSFR), which is designed to ensure that long-term assets are funded with
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Factory output rises a tepid 0.6%
Factory output as measured by the Index of Industrial Production (IIP) grew a marginal 0.6 percent in February 2013 from the year-ago month. The cumulative growth for the period April-February 2012-13 over the corresponding period of the previous year stands at 0.9 percent
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Allocatees must follow check list of Odisha govt
The steel & mines department of Odisha government cleared a checklist, which has to be observed by the allocatees of coal blocks in the state. According to the checklist, the allocatees must furnish status of their end-use plants linked to coal blocks. Companies whose coal blocks are at an advanced stages having either been granted prospecting licenses (PL) or mining leases (ML). These companies must com