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.
Category: Infrastructure Finance
Post
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.
Post
Finance Minister welcomes investment from foreign firms
Finance Minister P Chidambaram welcomed investment from foreign insurance, banking and asset management companies in India. During his visit to Tokyo, Japan, he said these companies have shown keen interest to investment in India and they were welcome. Insurance companies, large asset management com
Post
REC plans to mop up around Rs 350 bn in FY14
In 2013-14, Rural Electrification Corporation (REC)
plans to raise about Rs 35,000-37,000 crore from domestic as well as foreign sources. It may be recalled that the leading state-run infrastructure finance company in the power sector mopped up Rs 31,000 crore in 2012-13. Of the Rs 35,000-37,000 crore that the firm plans to raise in 2013-14, about Rs 5,000 crore may be raise
Post
Govt sets up panel to study definition of FDI, FII
The government set up a committee to examine and work out the details of the application of the principle followed internationally for defining foreign direct investment (FDI) and foreign institutional investment (FII). The finance ministry is learnt to have set up an eight-member committee under Economic Affairs Secretary Arvind Mayaram for giving clear definitions to
Post
CCI clears Rs 740 bn worth investment so far
Since the setting up of the Cabinet Committee on Investment (CCI) in January 2013, mega projects worth a total of Rs 74,000 crore, have been cleared by the body. These projects were stalled because of lack of statutory clearances. Many projects in the oil and gas sector, with a cumulative investment of $13.42 billion, were held up because of of objections raised by the Defe
Post
2012-13 sees Rs 60 bn worth of IPOs
During 2012-13, a total of 10 companies raised a cumulative Rs 6,059 crore through initial public offerings (IPOs), data available with the stock exchanges show. This is a marginal rise of 4 per cent from the previous year, when 33 companies had together mopped-up Rs 5,808 crore. This is a far cry from a total of Rs 33,183 crore raised through IPOs in 2010-11 by 52 fir
Post
Infrastructure sector faces funding constraints
Industry players complain that most sources of funding like private equity, capital market, bond issue, bank credit for infrastructure companies have dried up because of high risk perception in the sector. According to Suneet Maheshwari, MD & CEO, L&T Infrastructure Finance, private equity has been scarce and the capital market does not favour infrastructure comp
Post
Suzlon’s arm issues $647 million worth bonds
According to a company press release, the Dutch unit of Suzlon Energy, AE Rotor Holding BV, issued $647 million worth of bonds in order to reduce debt. The company would utilise the fund to repay loans as part of a debt restructuring deal with its creditors. Specifically, the proceeds of the bond sale would be used to refinance existing dollar-denominated foreign curre