The finance ministry will compile a list of projects that can be offered to foreign governments that have pledged billions of dollars in investment. This could be the Narendra Modi government´s version of the project monitoring group set up by its predecessor to get stalled infrastructure development moving again.
Category: Infrastructure Finance
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L&T Halol Tollway defaults on loan
L&T Halol Shamlaji Tollway, a 100 per cent special purpose vehicle promoted by L&T Infrastructure Development Project, has defaulted on Rs 1,014 cr payment to lenders due to low toll collections and shortage of cash.
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Efforts to attract FDI paying off: Arun Jaitley
Government´s efforts are paying off as India has become the highest FDI destination for greenfield projects, Finance Minister Arun Jaitley said in late September. ´Satisfying, our efforts are paying off. India becomes the highest FDI destination for greenfield projects,´ Jaitley tweeted.
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India signs loan agreement with ADB
The Government of India has signed a loan with Asian Development Bank (ADB) for $123.51 million for the third tranche of the Infrastructure Development Investment Programme for Tourism. This is for upgrades to tourism infrastructure and services in Punjab, Uttarakhand and Himachal Pradesh.
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Rs.13,314 CR Upgrade for Ponneri
Ponneri, a suburb to the north of Chennai, will get a Rs 13,314 cr infrastructure upgrade as part of the development of the Chennai- Bengaluru Industrial Corridor.
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Major Overhaul
India has a coastline of 7,517 km, with 12 major ports and 200 notified non-major (minor or intermediate) ports along the coastline. Out of the 200 notified non-major ports, up to 2013-14, only 61 were reported to have been handling cargo brought through maritime routes.
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Brookfield buys nine projects in India
Gammon Infrastructure Projects Limited (GIPL) has decided to divest its entire stake in nine infrastructure projects to BIF India Holdings Pte Limited, jointly held by Brookfield Asset Management and its affiliates and Core Infrastructure India Fund Pte Limited.
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TNIFMC to raise $1 billion
The Tamil Nadu Infrastructure Fund Management Corporation Ltd (TNIFMC), an asset management company (AMC) formed under the Tamil Nadu Infrastructure Development Board (TNIDB), plans to raise an alternate investment fund of around $1 billion to support infrastructure development in the State.
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Port development: Financial support to be sought from Centre
Financial support would be sought from the Union government to develop all ports, Karnataka State Minister for Ports Baburao Chinchanasur said. A
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IL&FS Transport plans to raise Rs.750 crore through rights issue
IL&FS Transportation Networks has said it plans to raise Rs 750 crore via a rights issue to augment its long-term resources.