One of the reasons for companies like GMR and GVK walked out of big-ticket road projects is that the companies are over-leveraged, said Gajendra Haldea, Infrastructure Advisor to Planning Commission Deputy chairperson Montek Singh Ahluwalia. The bureaucrat's statement comes in days after infrastructure majors GMR and GVK walked out of road projects.
Tag: GMR
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GMR, GVK cancelling projects due to unviability: NHAI
GMR and GVK infrastructure companies are walking out of mega road contracts as they are unable to arrange funding for those projects, the National Highways Authority of India (NHAI) has said.
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Infra firms face hardships over road projects
Finding it difficult to close road contracts undertaken in the build-operate-transfer mode due to delays construction companies are in a quandary over National Highway and State road projects. They are now looking at new norms that place emphasis on the equipment, procurement and construction (EPC) approach.
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Govt to hold meet over GMR exiting Rs 7,500 cr project
To study the reasons for the exit of GMR from a National Highways project, a meeting of senior officials, including secretaries and joint secretaries will be convened, Union Minister of State for Road Transport and Highways Sarve Sathyanarayana said in Coimbatore on January 9 . GMR has exited from the Rs 7,500 crore project alleging delay in statutory approvals.
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NHAI raps GMR over termination notice for h’way project
GMR has been rapped by the National Highways Authority of India (NHAI) for its termination notice for the country's biggest highway project worth at least Rs 6,000 crore.
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GMR to seek damages
Seeking a compensation of over $800 million from the government of Maldives Indian infrastructure company GMR is mulling to sue against the government in an international arbitration tribunal. GMR was forced to hand over Male airport to the Maldives government recently. The Indian company GMR, which was operating the Ibrahim Nasir International Airport at Male at an investment of $511 million, says it feels cheated for having the contract cancelled over an illegal component - airport development
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DIAL questions CAG audit, says land sops available to all
Questioning the jurisdiction of CAG which had detected a loss of Rs 1.63 lakh crore in the leasing of land to GMR-led private operator, DIAL today said the concessions available
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GMRs highway project
GMR Kishangarh Udaipur Ahmedabad Expressways said it attained financial closure for the 555-km long highway widening project
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The Predictability Issue
There are many ways in which private developers and contractors can (and do) jeopardise their own balance sheets. But given that the private sector works on profits and viability, it depends on the government in PPP
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Bids worth Rs 20k cr invited for highways
The Union government has invited bids worth Rs 20,000 crore,to widen 2,000 km of highways, opening up a big opportunity for companies such as L&T, GMR,Reliance Infrastructure and Gammon.This has helped the National Highways Authority of India (NHAI) inch closer to its target.