A Bilateral Investment Promotion and Protection Agreement (BIPPA) between the Government of India and the Government of UAE was formally signed in Delhi recently. The agreement was signed by Namo Narain Meena, Minister of State (E and FS), on behalf of Government of India and Obaid Humaid Al Tayer, Minister of State for Financial Affairs of UAE on behalf of Government of UAE.
Category: Infrastructure Finance
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UP expects Rs.42,000 cr investment Under the proposed
Eastern Dedicated Freight Corridor (EDFC), the Uttar Pradesh government is expecting Rs 42,000 crore investment into the state. In the state, almost 57 per cent of the EDFC measuring 1,049 km would traverse across 18 districts, bringing a lot of industrial benefits for the state. The government said that the proposed alignment of 1,840 km EDFC, starting from Punjab, traverses UP via Khurja and ends at Dankuni in West Bengal.
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SEFC to raise Rs.200 cr
From private equity (PE) investors, Shriram Equipment Finance Company (SEFC) is mulling to raise about Rs 150-200 crore and rope in strategic investors.
SEFC is a subsidiary of Shriram Transport Finance Corporation, which has an asset base of about Rs 56,000 crore. The company expects to grow at a compounded annual rate of 15 per cent and require Rs 150-200 crore, the company said.
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Petronets Dahej terminal to get $150 mn ADB loan
To enable Petronet LNG to increase its terminal capacity in Gujarat, the Asian Development Bank (ADB) is to provide a $150 million loan. ADB said that the expanded terminal will help India move towards its target of greater natural gas use and enhancing its energy security and shifting to cleaner forms of energy.
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Relax ECB norms for infra NBFCs
2013 has been a bad year for infrastructure sector. Certain sectors like roads & highways have been hit hard in particular. Though power sector has been growing, it must be kept in mind that while coal continues to account for almost 60 per cent of power production in India
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Govt’s aid to be continued to KoPT’s dredging
The Union government has agreed recently for a proposal to extend financial assistance to Kolkata Port Trust (KoPT) to meet the dredging expenditure incurred for maintenance of the river and channel.
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SKS Micro closes Rs 215-cr securitisation deal
SKS Microfinance has stated that it has concluded a securitisation deal worth Rs 215 crore. With this, the total sum of securitisation completed for FY14 is Rs 616.81 crore, the company said in a statement on December 19.
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Sundaram Mutual launches Select Micro Cap-Series I
Select Micro Cap-Series I, a five-year closed equity fund has been launched by Sundaram Mutual Fund. The scheme would be listed on the NSE and is benchmarked against the S&P BSE Small Cap Index. The scheme would invest at least 65 per cent in equity. There are opportunities to invest in all market conditions and Sundaram Mutual is known for unearthing these opportunities, the company said.
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Govt constitutes Cabinet Committee on Investments
The Union government has set up the Cabinet Committee on Investments (CCI) with the Prime Minister as the Chairman to promote accelerated and time bound decisions on grant of various licenses, permissions and approvals for implementation of projects.
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Govt to bring in investor-friendly FDI policy
Government has put in place an investor-friendly policy on Foreign Direct Investment (FDI), under which FDI, up to 100 per cent, is permitted, under the automatic route, in most sectors/activities. FDI policy is reviewed on an ongoing basis, with a view to making it more investor friendly, said the Uniion Minister of State in the Ministry of Commerce and Industry EM Sudarsana Natchiappan in Rajya Sabha on December 11.