The hydro project will generate 1,975.54 million units of power annually
Tag: equity
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Govt allocates funds for Pune Metro
The Union Government has a plan outlay of Rs 126.58 crore, equity of Rs 70.38 crore and loans of Rs 56.20 crore for the Pune Metro rail in the 2015-16 budget.
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Shipping Ministry moots company for port connectivity projects
To boost the port-rail connectivity projects, the Ministry of Shipping is conĆĀ”sidering plans to set up a new company to undertake rail projects at all government ports.
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FIIs permitted to hike holding in IDFC
With immediate effect, Reserve Bank of India (RBI) removed the restrictions placed on the purchase of shares of IDFC by foreign investors. The central bank removed the restriction because foreign investors' shareholding in IDFC fell below the prescribed limit. In August, the company reduced the limit that foreign investors c
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IOC, ONGC to bid for stake in HPL
West Bengal government may invite joint bidding by Indian Oil Corporation and Oil & Natural Gas Corporation (ONGC) for selling its about 40 per cent stake in Haldia Petrochemicals (HPL). It is learnt that besides IOC, and ONGC, RIL, Cairn India, and GAIL are also eyeing the stake. The state government rejected Reliance IndustriesĆā (RIL) plea for an open auction for stake sale as it already announced it woul
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GSPC JV to rope in strategic investor for LNG terminal project
Gujarat State Petronet Corporation (GSPC) and Adani Enterprises (AEL) are jointly setting up a liquefied natural gas (LNG) terminal at Mundra in GujaratĆās Kutch district. The joint venture is in the process of roping in a strategic investor for 25 per cent stake in the project. It is learnt that eight firms, including India Gas Solutions, the joint
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Krishnapatnam Port holds talks with PEs to offload stake
Media reports indicate that Krishnapatnam Port Company is holding discussion with some private equity funds to offload 6 percent stake and thereby mop up Rs 1,200 cr. The company wants to raise capital in order to expand the capacity of the port to 75 mn tonne from the current 50 mn tonne. It has plans to ramp up capacities to 100
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CCEA clears new definition of control under FDI policy
The Cabinet Committee on Economic Affairs has approved the proposal of the Department of Industrial Policy & Promotion for amendment to the existing definition of "control" under the FDI policy. The revised definition will be as follows: Until now, the definition of "control", in the extant FDI policy is as under: "A company is considered as "controlled" by resident Indian citizens if the resident India
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FIIs buy govt stake in state-run firms
The government raised about Rs 23,830 crore offloading stake in 7 state-run firms during 2012-13. 39 percent of this amount came from FIIs, union government said in a press release. Only about 25 percent came from Insurance Companies including LIC and less than 10 percent from banks including Public Sect
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Union Bank to raise Rs 3K cr to meet Basel-III norms
Mid-sized lender Union Bank of India plans to raise Rs 3,000 crore towards equity to meet Basel-III norms after 2015. Though it may not need any fresh equity until 2015, the bank has given a proposal to the Ministry of Finance for the additional capital and it is currently being studied, Union Bank Chairman and Managing Director D Sarkar said. The government roughly holds 58 per cent in the bank as on June 30, 2013.