The Highways Bill could represent the first major step taken by the government towards the creation of an independent authority with the power to cut delays and streamline the project approvals processes, thereby addressing major problems faced by the Indian roads and highways industry today and potentially opening up huge private investment, writes Aakanksha Joshi.
Tag: GMR Infrastructure
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GMR bags its maiden railway project
A consortium led by GMR Infrastructure has won its maiden railway project. The Rs 267 crore projects involve construction of rail line doubling between Jhansi and Bhimsen stations in Uttar Pradesh. GMR is the lead member of the consortium with Tata Projects and Kalindee Rail Nirman as the partner for OHE and track works, S&T works respectively. The project is scheduled to commence from 2 April 2014.
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GMR to sell stake in Istanbul Airport for Rs 2,500 cr
India's GMR Group is to sell its 40 per cent stake in Istanbul's Sabiha Gokcen International Airport for 200-250 million (approximately Rs 2,500 crore. For this, the GMR Infrastructure, India's largest private airport developer, has entered into a definitive agreement with Turkey's TAV Airports Holdings.
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GMR to sell stake in Istanbul Airport for Rs 2,500 cr
India's GMR Group is to sell its 40 per cent stake in Istanbul's Sabiha Gokcen International Airport for 200-250 million (approximately Rs 2,500 crore. For this, the GMR Infrastructure, India's largest private airport developer, has entered into a definitive agreement with Turkey's TAV Airports Holdings.
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GMR Infra mulls IPO for energy division
In order to raise equity capital for its ongoing projects, The energy division of GMR Infrastructure may be listed in the stock exchange, reports indicate. GMR Energy, which operates power plants with a total capacity of 1,487 mw, is working on over 3,000 mw of power projects. The company plans to raise around Rs 1,500 crore by offering 10 percent stake through fresh equity issuance
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IRB, SBI Macquarie may buy full stake in road projects
GMR InfrastructureÂ’s Farukhnagar-Jadcherla highway project, Shapoorji-PallonjiÂ’s Ulundurpet-Padalur stretch, and MVR InfraÂ’s Omallur-Salem-Namakkal road project will see a change in ownership soon. New investors have acquired a 74 per cent stake in these projects. Following the Cabinet Committee on Economic Affairs decision to relax exit norms for existing promoters, the new investors will now look to buy the entire stake.
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GMR confident of servicing debt
Media reports indicate that GMR Infrastructure does not face problem on servicing its debt as the firm feels most of the debt has been ring-fenced over the cash flow of specific projects. In 2012-13, the company paid Rs 608 crore as interest charges, higher than 31 per cent from the previous year. As of end-2013, the firm had a net debt of Rs 33,700 crore, up 15 per cent from the previous finan
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GMR’s power projects to get Rs 1,700 cr
During this financial year, GMR Infrastructure, the Bangalore-based infrastructure major is set to infuse Rs 1,700 crore fresh equity capital in its energy business. The GMR Energy business presently consists of six operating assets with a cumulative capacity of 837 mw and four generation projects under various stages of construction with an aggregate capacity of 3,788 mw.
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GMR to get Rs1,700 cr
During this financial year, GMR Infrastructure is set to infuse Rs 1,700 crore fresh equity capital in its energy business.
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GMR to cut debt via sale of road assets
In order to reduce its debt, GMR Infrastructure is in the process of offloading stake in some of its toll road projects. The company is reportedly in talks with potential investors such as Morgan Stanley Infrastructure Fund, Citigroup Venture Capital, SBI Macquarie and ICICI Venture to raise about Rs 1,800 crore through the stake sale