Recently, GMR Infrastructure and GVK Power & Infrastructure exited from two mega road projects (that they agreed to set up under public private partnership [PPP] model) citing delay in environmental clearances. While GVK withdrew from an around Rs 3,000-croreShivpuri-Dewas project in Madhya Pradesh, GMR abandoned its over Rs 6,000-croreKishangarh-Udaipur-Ahmedabad project.
Tag: GMR Infrastructure
Post
Post
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
Post
NHAI keeps tabs on ongoing highway projects
Media reports suggest that the National Highways Authority of India (NHAI) is checking status of the ongoing highway projects with the project developers. The move by NHAI is intended to ensure that no more developer exit from his road project like the way GMR Infrastructure and GVK Infrastructure withdrew from their high profile projects recently
Post
L&T faces Rs 3k cr order cut as GMR drops road project
Larsen & Toubro faces the prospect of cancellation of one of its biggest road building contracts worth almost 3,000 crore as its client GMR Infrastructure has decided to terminate the toll road project for National Highways Authority of India (NHAI). GMR Infrastructure has pulled out of NHAI's biggest road project being set up at a cost of 7,700 crore for the six-lane Udaipur-Kishangarh-Ahmedabad segment of the national highway, citing land acquisition, environmental clearance and toll notificat
Post
Govt not responsible for road project delays: Natarajan
Union Environment Minister Jayanthi Natarajan on January 8 said that there was no delay 'even for a day' in granting clearances from her Ministry. She dinied allegations that delay in getting a green nod is holding up road projects.
Post
NHAI may sue environment ministry for delaying nod to projects
National Highways Authority of India (NHAI) is considering to drag union environment ministry to the court because of delay in granting environment clearance for road projects. It may be noted that recently road developer GMR Infrastructure withdrew from the contract to develop a meg
Post
GMR Infra starts two highway projects in AP, Karnataka
Commercial operations of the Hyderabad-Vijayawada section of the National Highway 9 and the Hungund-Hospet section of the National Highway 13 have been commenced by GMR Infrastructure. With the commencement of these, the group now has a portfolio of eight operating highways. The projects are expected to generate revenues in the range of Rs 75 lakh to Rs 80 lakh per day for the former and Rs 18 lakh to Rs 20 lakh per day for the latter.
The Hyd-Vijayawada project was awarded through an internati
Post
GMR Infra starts two highway projects in AP, Karnataka
Commercial operations of the Hyderabad-Vijayawada section of the National Highway 9 and the Hungund-Hospet section of the National Highway 13 have been commenced by GMR Infrastructure. With the commencement of these, the group now has a portfolio of eight operating highways. The projects are expected to generate revenues in the range of Rs 75 lakh to Rs 80 lakh per day for the former and Rs 18 lakh to Rs 20 lakh per day for the latter.
The Hyd-Vijayawada project was awarded through an internati
Post
GMR Infra starts toll collection on Hungund-Hospet road
GMR Infrastructure has commenced partial toll collection on Hungund-Hospet road. Toll collection has started at two out of three toll plazas of the project, said a company release. The company is executing the four-laning road project of Hungund-Hospet section of NH-13 on toll basis under NHDP - Phase III.
Post
GMR says bad times are over for its airport biz
In this fiscal, GMR Infrastructure is hopeful of registering decent growth in its airport vertical. The company which operates in three business segments including power, roads and airport incurred a loss of Rs 179 crore in the September quarter, up around four fold, YoY due to poor show from its power and airport segments.