Media reports indicate that the proposed major port project at Dugarajapatnam of Vakadu mandal in Andhra Pradesh may not take off because of complications in the identified site. A technical committee that studied the project objected the Dugarajapatnam location keeping in view the reservations expressed by the Isro scientists as well ecologists as it was close to the Pulicat Lake, a reserved bi
Tag: acquisition
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Odisha govt asks NEC to expedite Rs 74 bn project
Odisha government urged Navayuga Engineering Company (NEC) to expedite work on the proposed all-weather port project at Astaranga in Puri district. The company has planned to develop the port at an estimated cost of Rs 7,417 crore, in the first phase, and handle 17.7 million tonne cargo. The state government also directed the concerned officers to accelerate the land acquisition process, both for the
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Odisha govt asks NEC to expedite Rs 74 bn project
Odisha government urged Navayuga Engineering Company (NEC) to expedite work on the proposed all-weather port project at Astaranga in Puri district. The company has planned to develop the port at an estimated cost of Rs 7,417 crore, in the first phase, and handle 17.7 million tonne cargo. The state government also directed the concerned officers to accelerate the land acquisition process, both for the
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AAI set to get land for two airport expansion projects
According to media reports, the Tamil Nadu government is set to handover land for the expansion of Madurai and Tuticorin airports to the Airports Authority of India (AAI). For the Madurai airport project, the state government is set to issue acquisition notification, while for the Tuticorin project, the process of issuing acquisition notification would be completed soon, reports indic
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Chidambaram reviews Rs 7 tn worth projects
As part of his efforts to expedite infrastructure projects in different states, Finance Minister P Chidambaram held discussion with promoters of delayed projects and officials of state-run banks in Karnataka. During the discussion, the minister reviewed 21 infrastructure projects, which are delayed, in the state acros
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IAML signs pact with 8 banks on acquiring infra loans
IL&FS Infra Asset Management (IAML), an Asset Management Company (AMC) signed a Memorandum of Understanding (MoU) with eight Public Sector Banks (PSBs) for acquisition of infrastructure loans. IAML was promoted by IL&FS Financial Services (IFIN) to manage the IL&FS Infrastructure Debt Fund (IIDF
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ONGC, Shell to form partnership for overseas ventures
In order to acquire oil and gas assets abroad, oil explorer Shell and Oil and Natural Gas Corp (ONGC) are considering to forge a partnership. Recently, both the firms said they are keen to come together to explore both upstream and downstream opportunities domestically. Some reports suggest that both the firms would extend this partnership to overseas proje
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SC delivers verdict on PIL against Cairn-Vedanta deal
The Supreme Court ruled that the central government and ONGC conducted due deliberation before taking a decision on the $8.5 billion Cairn-Vedanta deal. The court ruled this while rejecting a public interest litigation (PIL) challenging the deal on the ground that there was a loss to state-owned ONGC on account of the sale
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JSW Steel-Ispat merger clears legal hurdle
On May 3, 2013, the Bombay High Court cleared the Composite Scheme of Amalgamation and Arrangement between JSW Steel and JSW Ispat Steel, both the firms informed the Bombay Stock Exchange (BSE). Post-merger, promoters of JSW Steel will hold 35.12 per cent in the merged entity, while company's second largest shareholder JFE Steel holding will come down to 14.9
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CCEA clears Rs 31 bn highway widening project
The Cabinet Committee on Economic Affairs (CCEA) cleared a Rs 3,120 crore project for four-laning of the 155 km Hoshpukur-Falakata-Salsalabari section of National Highway-31D in West Bengal. The project cost includes the cost of Rs 907.60 crore towards land acquisition, re-settlement and rehabilitation and other pre-construction activities. The districts of Darjeeling, Jalpaiguri and Coochbihar in West Bengal are cove