The Union Government, plans to re-negotiate contracts worth Rs 99,000 crore with some of the private developers to give them payment concessions, instead of imposing penalties.
Tag: 2013
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IDD seeks legal opinion on contract termination
The Infrastructure Development Department (IDD) of Karnataka government would seek the opinion of the Law Department on terminating the contract given to Gulbarga Airport Development (GADL) for the greenfield airport project.
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JNPT road project approved
A project to upgrade a road to Jawaharlal Nehru Port (JNPT) in Mumbai has been approved by the Union Government. The road project involves a total expenditure of Rs 1,943.37 crore.
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Tatas race for Chennai, Kolkata airport projects
Tata Group is likely to bid for 100 per cent stake in two airport projects Chennai and Kolkata airports.
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Isolux Corsan secures 6 contracts
For developing six new infrastructure projects, Spanish firm Isolux Corsan has bagged six major contracts worth Rs 1,476 crore in India, the company said.
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Centre clears 5 port projects
The Union Government has cleared five port projects in various ports. Four of the five projects are to come up at Chennai Port, Cochin Port, Kandla Port and Haldia Dock Complex in Kolkata.
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Large projects on fast-track
With an objective to give a big push to the industry in the country, the Union Government has decided to fast-track 17 large projects with total investments of around Rs 4 lakh crore.
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Nod to lease out land for projects at major ports
The Union Cabinet has approved a proposal to license land to developers of projects at four major ports under public-private partnership (PPP) mode to strengthen the ports' capacity. It cleared one project on lease basis for setting up a cement bagging plant at Cochin Port.
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Reefer cargo at NMPT
With the onset of fishing season in the coastal belt, the New Mangalore Port (NMPT) is witnessing a record movement of reefer cargo in containers.
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Vizag port takes up expansion at Rs.4,500 cr
To expand its cargo handling capacity, Visakhapatnam port plans to spend Rs 4,500 crore. The port's existing capacity is 65 million tonne (mtpa) and it plans to enhance it to 110 mtpa by 2015-16.