Tata Steel Minerals Canada (TSMC), a subsidiary of Tata Steel, bought half the interest in Labrador Iron MinesĆā (LIM) Howse deposit for Canadian dollars 30 million (Rs 160 crore). In the areas of logistics and potential offtake arrangements, TSMC and LIM have entered into multi-part co-operation agreements as they operate adjacent iron ore projects spread over the Provinces of Newf
Tag: infrastructure
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UP strives to develop road infrastructure
The major focus of the Uttar Pradesh government has been on developing the state's infrastructure, particularly in rural areas. This included construction of roads, highways, flyovers and railway overbridges in various districts.
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Kotak mops up $90 mn to invest in infrastructure sector
According to an official statement, Kotak Mahindra Bank raised about $90 million in order to invest in companies engaged in industries like power generation and transmission, transportation. The amount, which is raised under the Core Infrastructure India Fund, would also be invested in water treatment and supply, waste management and gas transmission in
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AP govt to convince Krishnapatnam port for new port project
Andhra Pradesh government said it would take efforts to convince Krishnapatnam port to allow the state to construct a port at Ramayapatnam, which is less than 100 km from Krishnapatnam. The Krishnapatnam port, located in Nellore district, raised objections over the proposed port in Ramayapatnam on the ground that it would fall within the exclusive zone of 100
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Krishnapatnam Port to set up new berths
Krishnapatnam Port Company (KPCL) is in the process of increasing the number of berths to almost 20 in the north, south and west side of the ports in the next two to three yearĆās time. The promoters have invested close to Rs 5,000 crore in creating 10 multi-purpose berths including two for containers in KPCL. However, the plan is to have 42 berths in 5 yearĆās time, sources from the port
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APM Terminals handles record containers in Feb
APM Terminals Pipavav set a record of handling 250 box rakes (both import and export) in February 2013, more than 224 box rakes handled in December 2012. The port management attributed this record to the commissioning of its 3 RMGC and the resumption of double stack operations besides the continued dedication of its workforce
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Essar group mulls port project in Mozambique
Essar Africa Holdings, the African subsidiary of Essar group, plans to invest $275 million on developing a 10-million tonne (mn t) port in Mozambique. The project is currently on the drawing board, reports indicate. At a time when the group is looking at growth opportunities and overseas projects, the proposed port may facilitate exports from Zimbabwe Iron and Steel Company (ZISCO), a Zimbabwe-based company it acqu
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Institutions struggle to raise funds via tax-free bonds
Reports indicate that institutions that are allowed to raise tax-free bonds in 2012-13 could mop up only Rs 25,000 crore as against the permission to raise Rs 60,000 crore. It is learnt that investors are not showing much interest in the tax-free bonds as interest rates are expected to fall further in the coming months. Yield on tax-free bonds are set below the yield of the 10-year ben
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Union budget may boost growth in infra sector
Union Budget 2013-14 is expected to boost growth in the infrastructure sector as it has announced several new initiatives. For example, the budget proposed taking up two new cities -" Dholera in Maharashtra and Shendra Bidkin in Gujarat -" under the Delhi Mumbai Industrial Corridor Project. Finance Minister P Chidambaram said the government will provide additional funds for the project in 20
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Survey calls for clarity in NELP
Economic Survey 2012-13 called for clarity in terms of the New Exploration Licensing Policy (NELP) in order to remove impediments to implementation of projects in infrastructure, especially in the area of energy. While the Survey did not elaborate on what clarity was needed in NELP, it said the long term strategy should focus on issues like... petroleum price distortion (and) natural gas