Offshore drilling and oil field service provider Aban Offshore is planning to raise more than Rs 4,500 crore through various market instruments to replace a portion of its expensive debt. Aban Offshore has a total debt of more than Rs 13,000 crore and has been struggling to repay its debt. The Reji Abraham-promoted company is now looking to raise Rs 2,200 crore through issue of FCCBs and GDRs and is also looking to raise an additional 2,500 crore through issue of shares to qualified institutiona
Category: ECONOMY & POLICY
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Aban Offshore to raise Rs 4,500 cr to repay debt
Offshore drilling and oil field service provider Aban Offshore is planning to raise more than Rs 4,500 crore through various market instruments to replace a portion of its expensive debt. Aban Offshore has a total debt of more than Rs 13,000 crore and has been struggling to repay its debt. The Reji Abraham-promoted company is now looking to raise Rs 2,200 crore through issue of FCCBs and GDRs and is also looking to raise an additional 2,500 crore through issue of shares to qualified institutiona
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The silent underdog
The PMGSY has been a remarkable scheme, with substantial potential in ushering in the much-needed bottom-up reforms. Despite its obvious effectiveness in various economic, social and business domains, availability of funds and trained resources
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In the eye of a revolution
IndiaĂâs greatest need is for an effective and economically viable cold chain solution that will totally integrate the supply chains for all commodities from the production centres to the consumption centres, thereby reducing physical waste and loss of value of perishable commodities, writes Rai Umraopati Ray.
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World’s first hybrid reach stacker
Konecranes has introduced the world's first hybrid reach stacker, the SMV 4531 TB5 HLT for container handling, with a lifting capacity of 45 tonne. It features a hybrid diesel/electric driveline, electrified hydraulic lifting system, and a super capacitor based energy storage.
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Quick and comfortable
Quicom is a Transit-Oriented Development project, one of the largest unsolicited business model proposal for Mumbai to redevelop all 114 railway stations across local railway network under Public-Private-Partnership (PPP) mode.
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Civil nuclear pact
India and Japan agreed to speed up talks on a deal to allow Japan to export nuclear plants and to strengthen security cooperation as both countries keep a wary eye on China's military clout.
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Vizhinjam project master plan
The master plan and detailed project report (DPR) for the proposed Vizhinjam container terminal and international port project in Kerala was released by the state Chief Minister Oommen Chandy.
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GPL setting up 2 more berths
Gopalpur Port (GPL) constructed a multi-purpose berth with a cargo handling capacity of 3.50 million tonne and it is in the process of setting up another two berths.
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Alstom delivers Myanmar transmission project
Alstom T&D India has delivered a Rs 105 crore transmission project in Myanmar for Power Grid Corporation of India (PGCIL).