To supplement its working capital requirements, Hyderabad-based IVRCL is to raise Rs 1,200 crore and infuse capital into new projects. To facilitate fund-raising, the construction and infrastructure company has enlisted the services of SBI Caps, sources said.
Tag: Hyderabad-based
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GVK gets green nod for its Australia mine project
In western Queensland of Australia, Hyderabad-based GVK Power & Infrastructure has received environmental approval from the Australia's Coordinator-General for its $4.2-billion Kevin's Corner mine project in the Galilee Basin. The Kevin's Corner project, proposes a 30-million tonne per annum (mtpa) underground and open-cut coal mine and other associated infrastructure 65 kilometre north-west of the Alpha township.
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PFC may buy stake in NCC-Gayatri plant for Rs 200 cr
The Power Finance Corporation is close to sealing its maiden equity deal by buying a stake in the 1,320 mw coal-based power plant owned jointly by Hyderabad-based companies-NCC and Gayatri Projects. PFC aims to buy 10-15 per cent stake for Rs 200 crore in the NCC-Gayatri project that is being set up at a total cost of Rs 7,000 crore at Krishnapatnam in Nellore district of Andhra Pradesh.
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Soma Enterprise heads for corporate debt restructuring
Sources say that Hyderabad-based Infrastructure company Soma Enterprise, which has a debt burden of around Rs 5,000 crore, is heading for corporate debt restructuring (CDR). The highway developer, which also has an engineering, procurement and construction (EPC) division, has been referred to the CDR cell by one of its bankers, State Bank of India, the countryÂ’s largest lender.
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IVRCL sells highway projects in TN to TRIL Roads
Hyderabad-based IVRCL has monetised three road tollways by selling stake to TRIL Roads, a Tata Group company. The deal, covering all the three projects in Tamil Nadu, is estimated at Rs 2,200 crore. This stake sale agreement is part of the Hyderabad-based infrastructure company IVRCLÂ’s Strategic Business Plan to monetise its build, operate and transfer (BOT) road assets.
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Shale gas soon from KG basin in AP
The Krishna-Godavari basin could soon become the new source of shale gas, which promises to provide energy for the next 200 years. The KG basin is one of the few places identified in India for exploitation of shale gas. The potential deposits of shale gas in the country has been estimated at between 600 and 2,000 trillion cubic meters.