Essar Ports is awaiting the approval of the Gujarat government and necessary clearances in order to go ahead with its proposed $1.8 billion expansion projects in two ports, Salaya and Hazira. The country's second-largest private sector port and terminal company signed a Memorandum of Understanding (MOU) with the Gujarat Maritime Board rece
Category: ECONOMY & POLICY
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Brokerages expect iron ore price to fall
In its recent report, Bank of America Corp said it expects the global price of iron ore to decline to $110 a tonne by the end of 2013 from $140 a tonne in the first quarter because of supply glut in the market. Bank of America feels that the recent price rally is not sustainable and the price should come off in the second half of the year as more supply begins to come on li
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Urbanisation policy on the anvil in West Bengal
Real estate industry in West Bengal is keenly awaiting the release of the proposed urbanisation policy in the state. The industry hopes that the upcoming urbanization policy would solve the problems surrounding land issues in West Bengal
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Ministry to announce tariff norms for future projects
Union Shipping Minister GK Vasan informed that his ministry would announce in a couple of months new guidelines on tariff fixation for prospective projects. He said this while speaking at a maritime summit in Mumbai. Reports suggest that the ministry cleared a plan to allow port-terminal operators the freedom to fix their service rates
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General consultant appointed for DFC project
General consultancy contract for KanpurĂâMughalsarai, KhurjaĂâLudhiana and KhurjaĂâDadri section of Eastern Dedicated Freight Corridor project has been awarded to AECOM Asia Company at a cost of Rs 18.18 crore, according to the Dedicated Freight Corridor Corporation of India (DFCIL).
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Maha’s industrial policy to allow more land for housing
The Maharashtra governmentĂâs new industrial policy will lead to the unlocking of 8,797 acres of land in Thane-Navi Mumbai area and 5,765 acres of land in Pune, official data shows. Of this, 40 per cent of land will be used for construction of houses and shops.
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Rangarajan expects inflation to ease to 6%
Prime MinisterĂâs Economic Advisory Council Chairman C Rangarajan expressed hope that inflation would ease to six per cent by the end of the next financial year. Although the increase in fuel prices and train fares could prevent headline inflation from moderating in the near term, in the long-run he expects inflation to trend down
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Pune to have agency to rate eco-housing projects
The Pune Municipal Corporation (PMC) is to appoint one more agency to implement the eco-housing policy to promote environment-friendly measures in real estate. The agency will help the civic administration in rating the eco-housing projects in Pune.
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Navi Mumbai SEZ to denotify land for IT park, township
For Navi Mumbai Special Economic Zone (NMSEZ), plan is getting ready to denotify 2,140-hectares SEZ land and develop the same as an IT park and an integrated township which would include residential complexes, shopping malls, multiplexes, hotels, schools, colleges and hospitals. The NMSEZ co-promoters are: Reliance Industries (RIL) Chairman Mukesh Ambani and his close associate Anand Jain.
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Infrascape 2013 | Real Estate Bill to increase transparency
Given that there are confĂÂusing signals from our economic data, we are hoping that there will be some policy easing, which will help our cause. Policy initiatives: The introduction of legislation such as the Real Estate Bill is expected to increase transparĂÂency and boost investor confiĂÂdence in the Indian market.