Exim Bank will soon set up a Project Development Company (PDC) in association with the African Development Bank, a multilateral institution for 55 African countries. According to David Rasquinha, Executive Director, Exim Bank
Tag: financial closure
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Road concessionaires allowed to sell out projects
In the highway sector, the Union government paved the way for developers to exit projects in between by diluting equity in favour of an interested company.
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Vizag port gets court notice on modernisation project
Visakhapatnam Port Trust received a notice from the Andhra Pradesh High Court, which is hearing a petition filed by the workers union against the port's plan to rope in a private party for modernisation and upgradation of facilities at the ore handling complex (OHC). It may be noted that the port invited global tenders for the project, which it intends to implement on design, build
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MBL Infra’s arm secures loan for highway project
Suratgarh Bikaner Toll Road Company, which is a subsidiary of MBL Infrastructures, achieved financial closure for two laning of Bikaner-Suratgarh section in national highway (NH)-15 in Rajasthan. The company would execute the project on design, build, finance, operate and transfer (DBFOT) basis. A consortium of five public sector banks agreed to provide debt for the project. MBL Infrastructure has both engineering, procurement and construction and build-oper
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Vizag port did not get bids for WQ berths project
Private players have not shown interest in bidding for the WQ North berthsĆā improvement project, which Visakhapatnam Port Trust plans to implement. The port trust did not receive bids for the WQ 7 and 8 berth mechanization under WQ North project when the bids were opened. The port authority wanted to implement the project at a cost of Rs 393 crore. Vedanta and Essar would be main contenders for mech
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Gammon gets uderwriting of financial closure for 5 road projects
Gammon Infrastructure has secured underwriting for the financial closure of five highways projects in Bihar, Andhra Pradesh, Madhya Pradesh, Orissa and Haryana, which is likely to help the developer tie up funds easily and enable faster pace of progress.
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Govt okays financial closure for Jaipur Ring Road project
The Rajasthan government has given approval to financial closure for the long pending ring road project in Jaipur and is expected to begin soon. Once the letter is issued by the Jaipur Development Authority (JDA), the contract company Sanjos Supreme will have to complete work in 21 months. The Jaipur Development Authority (JDA) after examining the financial closure critically provided by the company submitted it to the State government for approval.
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Road contractors may be given more time to get funds
In a bid to prevent the exodus of private road contractors from highway projects, the Union government plans to extend the time required for road contractors to achieve financial closure. This is in case there is a delay in getting the required government clearances.
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ABG-LDA ties up fund for berth project
ABG-LDA Bulk Handling said it achieved financial closure for the Rs 310 crore mechanized fertiliser berth project at the Visakhapatnam port. A consortium of four banks headed by the SBH has funded the project which would vastly improve the operational efficiency and reduce pollution at the port, as it would obviate the need for multiple handling. The company aims
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NHAI gives more time to secure funding for highway project
Owing to delay in securing statutory clearances, the National Highway Authority of India (NHAI) allowed the concessionaire of the Kota-Jhalawar highway project in Rajasthan to take more time for financial closure. The lenders of the highway project asked for all the clearance to be on the safer side. The approvals from seve
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