Maharashtra Chief Minister Prithviraj Chavan informed the state legislature that his cabinet would clear the metro project for Pune this month and send a report on the project to the union government for final approval by the end of this month. Once the central government approves the project, the state government may sanction funds. It may be recalled that state government agreed to provide funds for t
Category: Infrastructure Finance
Post
Post
Andhra rail projects need Rs 400 bn investment
About 30 railway projects are pending in Andhra Pradesh and these would require about Rs 40,000 crore investment, Union Minister of state for railways Kotla Jaya Surya Prakash Reddy informed. He said these projects would be completed in a phased manner. He supported the hike in fares by saying that internal resources should be improved to strengthen the financial condition of the
Post
OVL to issue dollar bonds to finance acquisition
Dinesh K Sarraf, Managing Director of ONGC Videsh (OVL) informed reporters that the firm plans to issue $1 billion worth dollar bonds in order to finance its stake buy in Azerbaijan oil fields. The firm delayed its maiden overseas bond issue, which was initially planned between January and March, in order to complete the acquisition
Post
GIC may run reinsurance fund
Media reports indicate that General Insurance Corporation of India would run a Rs 20 billion fund to support local insurers who cover refineries processing Iranian crude oil. The fund would get an annual contribution of up to Rs 20 billion from Indian insurers and the oil ministry.
The money will come from the premiums normally paid by insurers for reinsurance cover.
Post
Gujarat govt to clear town planning schemes for Surat
Reports indicate that the Gujarat government has given preliminary approval for 27 town planning schemes in Surat and a final approval would be given soon. The others are in different stages of approval, reports indicate. Reports also indicate that the state government was slow in giving approval for the TP schemes in the city.
Post
Govt yet to decide on GAIL’s plan to buy more stake in Petronet
Union Petroleum Secretary Vivek Rae informed reporters that the government was yet to take a decision on whether to allow GAIL India to raise its shareholding in Petronet LNG. GAIL India, which holds 12.5 per cent stake in Petronet LNG, has shown keen interest in buying an additi
Post
EIL aims to achieve higher turnover in 2013-14
Engineers India (EIL) agreed to achieve a higher turnover and gross margin in 2013-14 and give emphasis on human resource and research and development initiatives in a Memorandum of Understanding (MoU) signed with the Government of India recently.
Post
PM's address at the CII National Conference and Annual General Meeting
I am delighted to be here today to inaugurate the CII annual meeting for 2013. I have always believed that both government and business have to be partners in writing the story of development of this ancient land of ours, and CII has been a greatly valued partner over the past many years.
Post
CRISIL expects credit quality of India Inc to improve
Ratings agency CRISIL expects credit quality trends of Indian companies to improve marginally in 2013-14 on the back of easing demand pressures, softening commodity prices, and a fall in interest rates during the year.
Post
ADB’s $252 mn loan for rural roads in five states
The Government of India and Asian Development Bank (ADB) have signed a $252 million loan to continue improving rural roads in Assam, Chhattisgarh, Madhya Pradesh, Odisha, and West Bengal. The ADB's loan represents the first tranche of a $ 800 million financing facility under the Rural Connectivity Investment Programme.