The Railways Ministry will seek around Rs 1 lakh crore from the finance ministry for a special railway safety fund. This will be used to implement several measures aimed at sprucing up safety performance and checking the spate of recent train accidents which have claimed several lives.
Category: Infrastructure Finance
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RBI, Govt to revive distressed utilities
Reserve Bank Governor Raghuram Rajan has said the apex bank is working with the Centre and state governments to revive distressed discoms. ´The government is fully cognizant of the problem as are we.
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FinMin to compile list of projects for foreign governments
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.
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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.