Government has sought legal advice on the proposal to give concession to GMR Infrastructure for implementing the Kishangarh-Udaipur-Ahmedabad project. The government seeks legal advice because the issue has wider implications for road sector and needs careful resolution in order to protect the interest of the gov
Tag: GMR Infrastructure
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Govt seeks legal advice on GMR project
Government has sought legal advice on the proposal to give concession to GMR Infrastructure for implementing the Kishangarh-Udaipur-Ahmedabad project. The government seeks legal advice because the issue has wider implications for road sector and needs careful resolution in order to protect the interest of the gov
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GMR Infra eyes new projects, investments
Bangalore-based GMR Infrastructure plans to start looking selectively at possible new investments after a year of an investment holiday. The firm will expand its EPC, or engineering, procurement and construction, business to take on projects that other firms are developing, said Parmit Chadha, Chief Executive Officer for strategy and corporate development.
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GMR Infra restructures energy vertical
GMR Infrastructure has reportedly restructured its energy business, which posted a net loss of 160 crore during Oct-Dec 2012 against a net loss of 84.3 crore a year ago, largely owing to fuel constraints. Until some time ago, there were no separate units for this segment, but now the company created several verticals so that complete responsibilities are on the head of th
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GMR competes for Filipino airport project
In the Philippines, India's GMR Infrastructure company is learnt to have filed qualification documents for a formal bid to develop 17.5-billion peso ($425 million) Mactan-Cebu International Airport project. The documents have been filed by GMR in a consortium with local Megawide Construction.
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GMR wants to resume highway project, offers guarantee
A fresh offer has been said to be offered by GMR Infrastructure for restarting work on India's largest road project, the 555-km-long Kishangarh-Udaipur-Ahmedabad highway. The company has told the Road Transport Ministry that it will provide a corporate guarantee of Rs 4,256 crore in exchange for reduction in the annual upfront payment.
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We are quite confident of the underlying value of our assets
We are just taking out money from where we think we have got the maximum and putting it into projects which we think has potential, says Parmit Chadha, CEO, Strategy and Corporate Development, GMR Infrastructure
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GMR ready to re-take road project if govt cuts premium
GMR Infrastructure now says that it is ready to take up the 555-km Kishangarh-Udaipur-Ahmedabad highway project again if there is a cut in the initial premium it owes to the government. GMR had withdrawn from the Rs 5,700 crore highway project owing to inconsistencies on environment clearance.
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NHAI wants CAG to advise on changing concession agreement
National Highways Authority of India (NHAI) has sought advice from the Comptroller and Auditor General (CAG) on how to modify the concession agreement for the stalled project to widen the Kishangarh-Udaipur-Ahmedabad highway to six lanes. NHAI Chairman RP Singh wrote a letter to CAG Vinod Rai asking the latter to deliberate on modification of th
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High interest outgo raises loss of GMR Infra
Huge interest outgo crimped the bottomline of infrastructure developer GMR Infrastructure, which posted a net loss of Rs 217 crore during Oct-Dec 2012. The company's interest outgo during the period is said to have risen 24 per cent to a total of Rs 525 crore, reports suggest. It is sitting on a consolidated debt