Finance Minister P Chidambaram welcomed investment from foreign insurance, banking and asset management companies in India. During his visit to Tokyo, Japan, he said these companies have shown keen interest to investment in India and they were welcome. Insurance companies, large asset management com
Tag: infrastructure
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CCI clears Rs 740 bn worth investment so far
Since the setting up of the Cabinet Committee on Investment (CCI) in January 2013, mega projects worth a total of Rs 74,000 crore, have been cleared by the body. These projects were stalled because of lack of statutory clearances. Many projects in the oil and gas sector, with a cumulative investment of $13.42 billion, were held up because of of objections raised by the Defe
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Infrastructure sector faces funding constraints
Industry players complain that most sources of funding like private equity, capital market, bond issue, bank credit for infrastructure companies have dried up because of high risk perception in the sector. According to Suneet Maheshwari, MD & CEO, L&T Infrastructure Finance, private equity has been scarce and the capital market does not favour infrastructure comp
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Govt may auction 68 blocks under NELP X
Media reports indicate that around 68 oil and gas blocks may be auctioned by the government during the the 10th round of New Exploration Licensing Policy (NELP) in 2013-14. Union petroleum ministry and the Directorate General of Hydrocarbons (DGH) are in the process of securing various clearances for offering the
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Operation at Gopalpur port to begin soon
MM Moharana, Director of Gopalpur Port (GPL) in Odisha informed that the actual operation in the port would begin within the next fortnight and the port can now handle around 3 million tonne (mn t) cargo annually. It may be recalled that operation at the port, located off Ganjam coast, was suspended in the last two years as the erstwhile seasonal minor port was being converted into a
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BRICS to set up development bank for infra projects
At the recently concluded BRICS summit in Durban, Brazil, Russia, India, China and South Africa decided to set up a development bank to finance infrastructure projects in these countries. But the countries have not decided the size of the proposed bank, leaving it to finance ministers to nego
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Kollam port needs infrastructure to handle cargo
Kollam cargo port urgently requires infrastructure like cranes for handling containers cargoes from vessels. Recently, a multi purpose 1,600 DWT container vessel, MV Karuthal , arrived at the port as part of a trial run calling at various small ports of the state. The captain of the ship Zaw Win Thein said that the port appeared very calm and looked ideal for receiving ships
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Proposed programme may attract Rs 7.7 bn investment
The proposed Tamil Nadu Investment Promotion Programme would encourage investment flow of around Rs 770 crore in small and medium infrastructure projects over the next three years. The state Finance Minister O Panneerselvam informed this in the State Assembly recently. The state government proposes to establish the programme with assis
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Firms make 118 discoveries in 39 NELP blocks
The Minister of Petroleum & Natural Gas M Veerappa Moily informed Lok Sabha that so far, a total of 118 discoveries (45 oil and 73 gas) have been made in 39 New Exploration Licensing Policy (NELP) blocks. This resulted in establishment of In-Place oil volume of 39.76 million metric tonne (mn t) and gas volume of 705.36 billion cubic meter (BCM) respectively. He added that a total of 360 exploration blocks were offered unde
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DDA approves land pooling policy
The Delhi Development Authority (DDA) cleared land pooling policy in order to give fillip to the residential projects in the city. The policy is expected to address housing problems, particularly for the economically weaker sections. Before notifying the policy, the authority would invite suggestions and objections. Presently, DDA acquires land directly from farmers or land holders. Lack of ad