Giving a boost to key segmentssuch as roads and bridges, liquefi ed natural gas (LNG), oil pipelines, water treatment plants, telecom towers, and three-star hotels, the Reserve Bank of India (RBI) accorded them infrastructure status and paved way for them to avail easier funding from banks.
Category: Infrastructure Finance
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Srei 's IDF
Having received approval from the Sebi for setting up an infra debt fund (IDF) through the mutual fund route, Srei Infrastructure Finance would begin the process now and hopes to launch it in January 2013. The Kolkata-based NBFC said that this would be finalised later. IDF is required as the country is set to invest huge amounts into the infra
sector and banks are close to hit their infra exposure limit.
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Nabard Loan For K'Taka
Under the Rural Infrastructure Development Fund (RIDF XVIII), Karnataka received Rs 236.18 crore loan from the National Bank for Agriculture and Rural Development (Nabard). Through this loan, the state government would carry out 82 minor irrigation projects, 189 rural road projects and 42 rural bridge projects in the state.
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Fund crunch delays HP tunnel projects
Three mega traffi c tunnel projects—two of them cleared by the state government in Himachal Pradesh in July 2012—may not take off any time soon. The fate of the projects will depend on the funding provisions, which is expected to run into hundreds of crores of rupees.The Chief Minister Prem Kumar Dhumal had laid down the foundation for one of the projects a fortnight before the Assembly elections were announced. The 1,200-m long Bangana-Dhaneta road tunnel to connect Una and Hamirpur districts w
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Hydel project gets $315 mn ADB loan
A 450 MW hydroelectric project in the Kinnaur district of Himachal Pradesh received $315 million loan assistance from the Asian Development Bank (ADB). The multilateral lending institution entered into a pact to this effect with the Government of India.
The Shongtong Karcham Hydroelectric Project is expected to cost a total of $750 million, with the Himachal Pradesh
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L&T, KEC to vie for REC, PFC projects
Companies like L&T, Kalpataru Power and KEC International plan to participate in eight transmission projects of Rural Electrification Corporation (REC) and Power Finance Corporation (PFC) as developers for a 35-year concession. Tenders for the projects are expected next month.
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Gamesa wins contract
Gamesa Wind Turbines India has bagged an order from SJVN, a ‘mini-ratna’ central public sector undertaking, for the supply of 56 wind turbines of 850 kW capacity each totalling 47.60 MW. The order comes with a 10-year ‘operations
and maintenanceÂ’ services contract.
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Landed in trouble
GMR entered the Maldives after realising the lack of potential in India for large airport projects. The relatively new global infrastructure is reportedly not insured against political risk—only to find itself stranded after a government change in that country.Pro China sentiments along with commercial disputes used by some extremists and political parties in Maldives have provoked anti-India sentiments which resulted in GMR’s Male airport confl ict.
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2G Auction Base Price Slashed
The panel of ministers on spectrum has reduced the base price for unsold airwaves in four regions Delhi, Mumbai, Karnataka and Rajasthan - by 30 per cent, and approved the telecom departmentÂ’s plan to simultaneously sell these airwaves along with a portion of spectrum held by incumbent operators before March 31, Telecom Minister Kapil Sibal said
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‘No scheme from states to fund national highways’
The Union government has taken up development of National Highways (NHs) under the National Highways Development Project (NHDP) & Non-NHDP, said the Union Minister of Road Transport and Highways Sarvey Sathyanarayana. He added that there is no scheme for development of NHs with funding assistance from the State Governments.