By March 2014, Coal India (CIL) plans to install GPS-based system for tracking transportation of coal and thereby improve efficiency at its major mines. The system is intended to prevent theft of coal and increase productivity.
Tag: 2013
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EPL to raise Rs 500 crore via bonds
Ennore Port (EPL) plans to raise only Rs 500 crore through tax-free bonds instead of the earlier plan of mopping up Rs 1,000 crore. The port is awaiting government notification and it hopes that it would get the same in next two to three months.
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Debt instruments preferred
Promoters of Indian companies are increasingly preferring to raise funds through debt and investors are also willing to offer it through structured deals or their NBFC arms that could either be a part of their investment group
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ECB norm relaxation
EAfter holding consultation with Indian companies, especially in the infrastructure sector, the government may relax guidelines for accessing funds through external commercial borrowing (ECB).
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PGCIL stake sale
The board of Power Grid Corporation of India (PGCIL) cleared a proposal to sell 15 per cent stake through Follow on Public Offer in order to raise funds for its investment plans.
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L&T to go for Rs 1,000-cr ECB deal for Hyderabad Metro
For the Hyderabad metro rail project, L&T is close to striking a Rs 1,000-crore external commercial borrowing (ECB) deal with India Infrastructure Finance Co (IIFCL).
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Lanco to recast Rs 90 bn debt
In view of the challenging economic condition, Lanco Infratech approached corporate debt restructuring (CDR) cell to recast its Rs 9,000-crore debt. Of the Rs 9,000-crore debt, Rs 4,000 crore is fund-based exposure and Rs 5,000 crore non-fund-based.
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Centre signs $60 mn loan pact with ADB for NKUSIP
Centre has signed an agreement with Asian Development Bank (ADB) for A $60 million loan for 'North Karnataka Urban Sector Investment Program' (NKUSIP).
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Raghuram Rajan is next RBI Governor
Chief Economic Adviser Raghuram Govind Rajan was appointed as Governor of the Reserve Bank of India (RBI). Rajan is set to take over the mantle of the central bank at a time when the economy is faced with a multi-pronged crisis of
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WB gets Centre’s aid for solar PV projects
The West Bengal Renewable Energy Development Agency has received financial assistance from Ministry of New And Renewable Energy for various off-grid solar photovoltaic systems and power projects.