Banks must hand over their loan for infrastructure projects to Infrastructure Debt Funds (IDFs) once the projects are completed so that banks can get funds to lend to fresh projects. Finance Minister P Chidambaram suggested this to banks recently. IDF provides long term finance through the lif
Tag: infrastructure
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High interest outgo raises loss of GMR Infra
Huge interest outgo crimped the bottomline of infrastructure developer GMR Infrastructure, which posted a net loss of Rs 217 crore during Oct-Dec 2012. The company's interest outgo during the period is said to have risen 24 per cent to a total of Rs 525 crore, reports suggest. It is sitting on a consolidated debt
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Delay in Posco project may be dealt by IMG
According to some press reports, the union government may form an inter-ministerial group (IMG) for recommending ways to fast-track clearance for PoscoÂ’s $12-billion investment plans in Odisha. Last year, the National Green Tribunal sought a fresh environment impact analysis for for the entire 12 million tonne per annum (mn tpa
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TN govt to introduce land acquisition policy
Tamil Nadu government plans to introduce a land acquisition policy considering that non-availability of land for industrial units is a major hurdle in attracting new investments in the manufacturing sector, Governor K Rosaiah said. He said this at the customary GovernorÂ’s address in the Assembly marking the start of the session
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TN govt to introduce land acquisition policy
Tamil Nadu government plans to introduce a land acquisition policy considering that non-availability of land for industrial units is a major hurdle in attracting new investments in the manufacturing sector, Governor K Rosaiah said. He said this at the customary GovernorÂ’s address in the Assembly marking the start of the session
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ADB plans to lend $10 bn to public sector
Reports suggest that Asian Development Bank (ADB), the Manila-based multilateral development bank, plans to lend around $10 billion to the Indian public sector between 2012-2017 and $2 billion to the private sector in this period. It is also learnt that the bank is holding talks with the central government on its country strategy paper for India
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Terminals at Chennai airport opened for public
Recently, the new domestic and international terminals at the Chennai airport were opened for public use by Vice-President Hamid Ansari. It may be recalled that the Airport Authority of India (AAI) built the terminals at a cost of Rs 2,000-crore to enhance capacity. The existing terminals had a capacity to handle six milli
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Infra sector may attract PE fund if govt takes steps
According to a report by consulting firm Ernst & Young, infrastructure sector may attract private equity (PE) funds if the government takes steps, both policy and administrative, to boost investment activity in the sector. In its recently released private equity annual report titled ‘Second Innings – An industry in transition’, the firm said
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Odisha CM unveils bus terminus at Keonjhar
The Rs 7 crore bus terminus built by Tata Steel at Keonjhar in Odisha was recently inaugurated by the state Chief Minister Naveen Patnaik. The state-of-the-art bus terminus was constructed over an area of 2.7 acre and is designed to accommodate 24 buses inside the bay and has provision for parking of four to six buses
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Slowdown or consolidation?
After every available rating and analyst firm from Nomura to Dun & Bradstreet and India Ratings expressed a negative outlook on IndiaÂ’s infrastructure, the inevitable, unpleasant moment arrived when the advance estimates, officially announced early this month, stated that the nation can only achieve 5 per cent growth the current fiscal, the lowest in a decade, and 0.7 per cent lower than anticipated earlier.