Urban infrastructure development in India has taken a faster pace in the recent past with a slew of projects getting operational while some are under implementation.
Tag: GVK
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A new global benchmark
The new Terminal 2 (T2) at Mumbai International Airport, an engineering marvel and an architectural icon, completed its construction confronting with a lot of challenges. GVK constructed the new T2 in the same location of the old international terminal without shutting down its operations.
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Govt hopeful to award big highway projects soon
The Union Road Transport and Highways Minister Oscar Fernandes has said that he expects road projects worth over Rs 1 lakh crore, which have been stuck for long, are to start moving from next month as a concrete decision on the rescheduling of premium paid by developers is expected by the end of this December.
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Govt to attract foreign firms to build roads
The Union government is to hold road shows in countries like China and Australia in the next few months to attract foreign companies to take up road construction projects in the country. Road developers in India like GMR, GVK, L&T are staying away from bidding due to fiscal constraints and land acquisition problems.
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Making the right noises
Will the proposed Dispute Resolution Bill enhance or stymie the negotiating power of infrastructure developers? While the Planning Commission has articulated a clear need for a new law that addresses the typical infractions that occur between public
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Contract renegotiation may be a reality
The government is considering the introduction of a force majeure clause in public-private partnership projects to allow renegotiation of contracts to revive private participation in infrastructure development and salvage some big-ticket projects.
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Rescheduling for road projects cleared
The Union Cabinet Committee on Economic Affairs (CCEA) has cleared premium rescheduling of road projects (means, postponement of premium payments by highway developers) and referred the matter to a panel for fine-tuning. The move could help infrastructure majors such as GMR and GVK whose projects were facing delays on account of high premium.
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Partnership through duress
Our roads sector wants to go cool, and with good reason. Minister CP Joshi will be on Google Plus Hangout on 29 March; National Highways Authority of India (NHAI) has taken another step towards its private partners.
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NHAI blamed for encouraging irresponsible bids
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.
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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.