Sources say that Hyderabad-based Infrastructure company Soma Enterprise, which has a debt burden of around Rs 5,000 crore, is heading for corporate debt restructuring (CDR). The highway developer, which also has an engineering, procurement and construction (EPC) division, has been referred to the CDR cell by one of its bankers, State Bank of India, the countryÂ’s largest lender.
Category: ECONOMY & POLICY
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Govt asks developers to complete housing projects
Private developers who are delaying the construction of affordable housing units in Jaipur received a warning from the state government's urban housing and development (UDH) department. The developers were asked to complete the project by end of July or else lose the security money. The department said it would transfer the security money to Jaipu
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Centre announces 3rd manufacturing zone for AP
The Union government on May 25 promised to approve a third National Investment and Manufacturing Zone (NIMZ) for Andhra Pradesh. The Centre has already approved the establishment of 12 NIMZs in the country - eight on the Delhi-Mumbai Industrial Corridor, two in AP and one each in Karnataka and Maharashtra, said the Union Minister for Commerce and Industry Anand Sharma.
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Govt completes 517 JNNURM projects
In its annual report card, the UPA government said it completed 517 projects under JNNURM, including 231 projects under Urban Infrastructure Development Scheme for Small and Medium Towns (UIDSSMT). The government listed these projects under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) and expansion of metro network in various cities as achievements during the year
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Govt completes 517 JNNURM projects
In its annual report card, the UPA government said it completed 517 projects under JNNURM, including 231 projects under Urban Infrastructure Development Scheme for Small and Medium Towns (UIDSSMT). The government listed these projects under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) and expansion of metro network in various cities as achievements during the year
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Minister hints at more reforms in coming months
Expressing hope of a turnaround in the economy, Finance Minister P Chidambaram hinted that the government would unleash more reforms in the second half of the year. He said this while interacting with media persons on the sidelines of the performance report release function on the fourth anniversary of UPA-II
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Land acquisition hurdle delays customs post project
There is a delay in the upgradation of the land customs station at Petrapole, West Bengal, which accounts for more than half of the bilateral trade between India and Bangladesh, owing to impediments in land acquisition. The check post will offer customs and other clearances required to export goods and will reduce the time taken for the movement of cross-border consignments. This information was given by Amit Kumar Roy, commissioner of customs (preventive) at a Bengal National Chamber of Commerc
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PCMC prepares DPR for effluent treatment plant
Pimpri Chinchwad Municipal Corporation (PCMC) is preparing detailed project reports (DPR) for construction of a common effluent treatment plant for 2,500 small industries in Maharashtra Industrial Development Corporation areas. This is part of a slew of civic amenity projects planned by the corporation. They include preparation of a city sanitation plan with provision for construction of toile
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Odisha govt uses GIS to prepare master plan of 31 cities
Odisha Chief Minister Naveen Patnaik informed at a conference that the state government was making use of the Geographical Information System (GIS) to prepare a Master Plan of 31 cities and towns in the state. It may be noted that master plans enable preparation and implementation of different schemes in a town. A Comprehensive Development Plan is also required for town planning and to provide basic infrastructure to
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Andhra govt sets up panel to process RAY
In order to implement the Rajiv Awas Yojana, the Andhra Pradesh government set up a state-level nodal agency (SLNA), Mission for Elimination of Poverty in Municipal Areas (MEPMA). Various Urban local bodies in the state are submitting the detailed project reports (DPRs) under the scheme to MEPMA. The state government also set up a DPR Appraisal Committee headed by commissioner and director of muni