ABG-LDA Bulk Handling said it achieved financial closure for the Rs 310 crore mechanized fertiliser berth project at the Visakhapatnam port. A consortium of four banks headed by the SBH has funded the project which would vastly improve the operational efficiency and reduce pollution at the port, as it would obviate the need for multiple handling. The company aims
Category: Infrastructure Finance
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Early enforcement of Basel III may be challenging for banks
According to global ratings agency Standard & PoorÂ’s, the Indian banking system could face challenges in maintaining or raising capital ratios if Basel-III norms are implemented immediately. The agency said if the Reserve Bank of India decides to implement Basel-III norms immediately Indian banks could face a $3-4 billion (Rs 16,185-21,600 crore) capital shor
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Talks are on with investors for revival: Kingfisher to SC
As it sought more time to respond to the demands by the Income Tax department, the belaguered Kingfisher Airlines on January 22 told the Supreme Court that it was in negotiations with the investors for the revival of its grounded fleet, senior counsel Harish Salve, appearing for the airline, told a bench of justice DK Jain and justice Madan B Lokur. The airline sought four weeks' time.
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Rs 1,920 cr sanctioned for Mumbai Trans-harbour link
The Union Finance Ministry has sanctioned viability gap funding of Rs 1,920 crore for the Mumbai trans-harbour link, the Mumbai Metropolitan Region Development Authority (MMRDA) has said. The project, estimated to cost Rs 9,630 crore, will be implemented on public-private partnership mode. The construction period will be for five years.
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Governor comments temper policy rate cut hope
Expectation that Reserve Bank of India (RBI) would reduce policy rates during the monetary policy review on January 29 was tempered by the recent remarks of Governor D Subbarao. Subbarao recently remarked that reducing inflation is the priority of the central bank and will always be. Only then can the poor be given relief, he added
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IL&FS mulls to up its toll to Rs 12 cr/day by 2015
IL&FS Transportation Networks India hopes to increase its daily collection by way of annuity and toll from Rs.2 crore a day now to Rs 12 crore a day by 2015-16, Executive Director Mukund Gajanan Sapre told a newspaper. IL&FS Transportation Networks India is devising a multi-pronged approach to work around the road blocks.
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REC to sell Rs 15 bn worth 5-year bonds
Rural Electrification Corp is in the process of issuing Rs 1,500 crore worth five-year bonds in order to raise capital for funding power projects. The state-run lender has fixed an annual coupon of 8.70 per cent for the bonds. It may be noted that the financial institution scrapped the plans of raising funds in the s
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Refining segment dominates RIL’s earnings
The operating profit or Ebit (earnings before interest, tax) of Reliance Industries (RIL) from refining and marketing rose 115 per cent to Rs 3,615 crore during October-December 2012 from the year-ago period. But the company's Ebit margin from oil and gas declined 54 per cent to Rs 590 crore against Rs 1,294 crore in the corresponding previous quarter. The petr
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Delhi govt seeks more central govt funds
Delhi Chief Minister Sheila Dikshit requested the central government to increase the size of grant to the state considering its huge expenditure on development of infrastructure and implementation of schemes through the direct cash transfer scheme. She said 65 per cent of the state government's budget is allocated to social sector schemes
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PNB clears plan to issue preference shares worth Rs 12.5 bn
In a statement filed at Bombay Stock Exchange, Punjab National Bank (PNB) said it approved the issuance of preferential shares worth Rs 1,250 crore to the central government. Accordingly, the state-run bank would issue preference shares with face value of Rs 10 each. The proposed preferential allotment will be subject to necessary appr