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Key parameters for smart cities identified

Key parameters for smart cities identified

Successful development of smart cities across the country will depend on five critical elements such as power, infrastructure, funds, technology and social capital, property consultant Cushman & Wakefield said.

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West Bengal gets 421 rural roads under PMGSY

West Bengal gets 421 rural roads under PMGSY

The Union Rural Development minister Jairam Ramesh has said that his department has finalised funds for 421 roads covering 1,887 km in West Bengal. The State Chief Minister Mamata Banerjee had written to the Prime Minister about norms being flouted by the Centre in allotment of funds to states.

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Infra definition expanded for ECB facilitation

Infra definition expanded for ECB facilitation

With an intension to raise funds through external commercial borrowings (ECBs) the Reserve Bank of India (RBI) on September 18 expanded the definition of the infrastructure sector. The existing definition will be expanded for infrastructure sector for the purpose of availing ECBs, the apex bank said in a notification.

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Borrowing of infra firms rises faster than revenue

Borrowing of infra firms rises faster than revenue

Official data shows that the borrowing of 17 construction and infrastructure (C&I) companies that are part of the BSE-500 index has risen more than their revenue and net profit during the last five years since 2008. While borrowings of these firms rose a little over five times, to Rs 2.7 lakh crore since 2008, their revenue and cas

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Housing finance firms may use ECB to fund projects

Housing finance firms may use ECB to fund projects

National Housing Bank (NHB) expects Housing finance companies (HFCs) to raise funds through the external commercial borrowings (ECBs) as Reserve Bank of India (RBI) reviewed ECB norms. HFCs may avail ECBs to fund their affordable housing projects, NHB, which is the regulator of the sector said. RV Verma, Chairman of NHB said the regulator received an application from HDFC for ECB and it expe

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CSL mulls Rs 20 bn investment to raise capacity

CSL mulls Rs 20 bn investment to raise capacity

Media reports indicate that Cochin Shipyard (CSL) would invest almost Rs 2,000 crore towards its capacity expansion plan in the coming years by raising funds through an initial public offering (IPO). The company would raise part of the funds needed for this investment through the proposed IPO. The capacity expansion plan of the firm is part of its ambition to become a leading international shipbuilding and repair yard.

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PEs deploy largest amount in 5 yrs in May

PEs deploy largest amount in 5 yrs in May

During May 2013, private equity funds announced 30 deals totaling to $ 2.1 billion, making it the highest monthly total since January 2008, Ernst & Young said in a report. A large part of the investment came from Qatar Foundation Endowment, which committed $ 1.26 billion investment in telecom major Bharti Airtel. This is the seco