Infrastructure companies have welcomed the GovernmentÂ’s move to bring in flexibility in the roads sector, including revised norms that permit stake sale in projects right after commissioning. The move is expected to accelerate the rate of churn of projects, increase the size of disinvestment, bring about liquidity, aid in debt swap and infuse fresh equity into new projects. R Balarami Reddy, Executive Director, Finance, IVRCL said that the decision will help speed up the process of exits and giv
Tag: government
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World Bank sign $216 mn loan pact for Kerala projects
World Bank signed a $216 million loan agreement with the Government of India and the Government of Kerala for the second Kerala State Transport Project. The loan agreement was signed by Nilaya Mitash (Joint Secretary, Department of Economic Affairs) on behalf of Government of India and Onno Ruhl, Country Director, World Bank (India) on behalf of the World Bank
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Gujarat govt sets up SPV to implement Rs 50 bn project
The Gujarat government set up a special purpose vehicle with an initial authorized capital of Rs 200 crore to implement a dedicated regional rail system project. State-run RITES is learnt to have submitted to the Gujarat government, the final feasibility report for the project, which is expected to cost Rs 5,000 crore at the current price. Initially, the estimated cost of the project was Rs 2,500 crore in
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Department to ensure compliance of norms
The Kerala government's Department of Ports is taking efforts to ensure that all the 2,000-odd boats in the state conform to safety norms prescribed in the Kerala Inland Vessel (KIV) Rules, 2010. Reports indicate that houseboats, shikaras and tourist vessels, that use the stateÂ’s backwaters and navigable canals, do not conform to basic safety norms unde
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APL in the process of delisting its shares
Loss-making Assam Petrochemicals (APL) is in the process of de-listing the company from the Bombay Stock Exchange (BSE) amidst the proposal of Oil India to buy stake in the firm. State-run OIL is in talks with Assam government, which is holding 88.2 per cent stake in APL, for buying 49 per cent equity in the company. Domestic institutions and others hold the remaining stake in
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Plea for capital dredging in Kolkata, Haldia ports
Environmentalist Subhas Datta filed a a public interest litigation petition with the Calcutta High Court against the central government's move to stop subsidy for the dredging projects in Kolkata and Haldia ports. Kolkata port was one of the oldest and the only riverine port in the country and it is prone to heavy deposit of silt. Datta expressed concern over the neglect of the Kolkata and Haldia ports and he wants the court to direct gove
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Punjab govt to spend Rs 14 bn in 6 districts
Punjab government decided to spend Rs 1,433.97 crore on upgrading basic civic amenities like road, water, sanitation and social infrastructure facilities in six districts falling in the border areas. Specifically, the amount would be spent on improving these facilities in 18 blocks of Amritsar, Ferozepur, Fazilka, Gurdaspur, Pathankot and Tarn Taran districts in the
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Bangladesh seeks clarity on container terminal project
Bangladesh government sought clarification from the Indian government about the proposed container port project in Narayanganj by the bank of the Shitalakhya river. Narayanganj is a crucial port facility on the outskirts of Dhaka which is also used by Indian cargo vessels under the India-Bangladesh water transport protocol. It is learnt that the Bangladesh government was
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Kerala govt allots Rs 80 cr for bridge project
Kerala government allotted Rs 80 crore for the construction of the Edakochi-Kannangattu bridge, the state excise Minister K Babu said at a function on the completion of a Hudco project at Pampayi Moola. He also informed that the state government would conduct tendering process for the bridge project.
Piling has already been started on an experimental basis, the m
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Govt to probe land acquisition for airport project
Karnataka government would probe the allegation of farmers that the Karnataka Industrial Area Development Board (KIADB) allotted part of the land acquired by the board for an airport project to the Deshpande Foundation. KIADB has allegedly acquired over 700 acre land from farmers for the expansion of the Hubli airport while the actual requirement was 600