For its proposed Global Infrastructure Facility (GIF) that will finance core projects in emerging economies like India, the World Bank is expected to finalise the GIFĂ´s shape by next April, says an official in IndiaĂ´s Finance Ministry. The official added that the spring meeting of the World Bank in April will discuss the design the GIF. The facility will help finance needs of infrastructure deficit nations. The World Bank made a presentation to Finance Minister P Chidambaram in October on the pr
Tag: December
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Govt to set up Rs.5,500 crore innovation fund
The Union government is likely to set up a Rs 5,500-crore Indian Inclusive Innovation Fund (IIIF). Media reports say that the Union Cabinet is likely to take up a proposal in this regard. The fund will be under the Ministry of Micro, Small and Medium Enterprises (MSME).
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ICICI Venture to raise Rs.1,685 cr
The proposed ICICI Venture infra fund, which aims to invest in assets such as roads, ports, airports and seaports and infrastructure companies, has secured investment commitments of up to $270 million (Rs 1,685 crore) from major companies like LIC.
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Panel to check traffic
To ascertain the accuracy of road developersĂ´ claims of financial stress due to lower toll revenues, a Union government panel has called for a traffic survey on 47 highways. The panel has been appointed by the Union Cabinet to examine bailout demands of highway developers. The panel is headed by C Rangarajan, Chairman of the Prime MinisterĂ´s Economic Advisory Council.
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SEZ project development
About 30 Special Economic Zone (SEZ) developers have been given six months to one year more time by the Union government to execute their projects. The decision was taken by an inter-ministerial Board of Approval (BoA) chaired by Commerce Secretary SR Rao in its meeting. Requesting for more time to implement their projects, Posco-India, Unitech Infracon and Lodha Dwellers have also made their requisition to the government.
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Kerala road policy
Kerala Public Works Department is mulling to come up with its State Road Policy to develop a sustainable road network which would meet the traffic requirements of the future. Draft of the policy will be an improvised version of the one prepared four years back. The formulation of Kerala Road Policy will be discussed at the high-level meet of PWD officials.
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Punjabs road connectivity plans
Punjab governmentĂ´s Ă´Draft Master Plan 2031Ă´has elicited the wide range public opinion that better road connectivity of Chandigarh with Mohali and Mullanpur was the main concern of Punjab people. Hearing on the objections/suggestions pertaining to the draft Master Plan 2031 was held on 26 November. The Punjab government suggested that the road network should be strengthened by construction of additional roads.
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Govt may increase defect liability period for roads
The government could make builders liable for defects on the main carriageway for five years instead of the present two years. This measure has been said to be taken by the government to ensure that roads are maintained better in the city. The governments proposed move comes after Prime Minister Manmohan SinghĂ´s directive to address issues of quality of roads built under the EPC model.
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ADB to set up infra fund for Asia-Pacific region
To provide finance for projects in Asia Pacific region, the Asian Development Bank (ADB) is to set up Asia Pacific Infrastructure Fund. The Manila-based ADB said it is now looking at a Asia Pacific Infrastructure Fund for infrastructure investment in Asia-pacific region.
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ADB studies
IndiaĂ´s east coast economic corridor On the Indian East Coast economic corridor, the Asian Development Bank (ADB) is carrying out analytical work. The study will examine the kind of infra-ĂÂĄstructure and institutional investments needed to drive manufacturing-led growth that will create jobs and leverage local, national, regional and global opportunities, according to an ADB release.