Finance Minister P Chidambaram went to USA to woo investors and corporates to invest in India. During his visit, the minister is scheduled to meet CEOs and other top executives of potential investors, including Microsoft Corp, Wal-Mart Stores Inc, Lockheed Martin International and Boeing International. In recent months, Chidambaram has been visiting foreign countries to invite investors and companies to inves
Tag: investment
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Essar Projects to offer more services
Media reports indicate that the Ruias controlled Essar Projects wants to diversify its operation beyond the basic engineering, procurement and construction (EPC) services it offers to clients. As part of this strategy, the company acquires a small stake in the projects that it executes for its global client
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Dredging cost may hit profitability of ICTT
The profitability of the Vizhinjam international container transhipment terminal (ICTT) is under question because of the annual maintenance requirement after every monsoon season. According to hydrographic surveyor Commander John Jacob Puthur (retd), the terminal requires dredging after each monsoon to remove at least 3 million cubic metre of silt at a minimum annual maintenance cost of Rs 3
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Rupee depreciation to hit Indian firms badly
A note from CRISIL Research shows that only half of the foreign exchange exposure of Indian companies is hedged. As on March 31, Indian companies had $200 billion of foreign currency debt and 45 per cent of this was short-term, a study by rating agency CRISIL shows. Mukesh Agarwal, President, CRISIL Research, said a significant portion remained unprotected from the volati
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PEs invested $168 mn in microfinance firms in FY13
Data released by Microfinance Institutions Network (MFIN) shows private equity investors (PEs) invested $168 million (close to Rs 10,000 crore at current value) in the microfinance sector in 2012-13. Besides PEs, investors multilateral and government-supported funds like SIDBI and IFC also invested in the sector during the year. In fact, reports suggest that these kinds of investors contributed a large part
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Minister invites French investment in infrastructure
Commerce and Industry Minister Anand Sharma welcomed French government and companies to invest in infrastructure, transport, high technology, energy and other sectors in India. He discussed mutual cooperation in the field of economy and business during his meeting with French Minister for Foreign Trade Nicole Bricq in Paris. Sharma also requested the French Minister to enco
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Govt to raise steel capacity 3 fold by 2025
In the next eight weeks, union steel ministry would prepare a road map with time lines for attaining the government's target of trebling steel production capacity to 300 million tonne by 2025. Government aims to raise the production capacity of steel by three-fold in order to support manufacturing sector in the country
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Govt considering ore license for $12 bn steel project
Unconfirmed reports indicate that the union government is considering to provide an iron ore exploration licence to South Korean firm POSCO for its planned $12 billion steel plant in Jagatsinghpur, Odisha. Granting of this license may expedite the long-delayed steel project, which is said to be the largest forei
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KKR to invest substantial amount in Indian ventures
A large portion of the $6 billion raised by Kohlberg Kravis Roberts & Co (KKR) in its Asian II Fund could be deployed in Indian business ventures, reports suggest. It may be learnt that the American private equity (PE) fund KKR raised $6 billion through Asian II Fund and this became the largest pan-Asian PE fund raised so far. KKR invested over 25 percent of its first Asian fund in India, picking up stakes in half-a-dozen companies for $1.1
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PM clears Rs 450 bn plan of steel ministry
At a recent meeting of the high-level committee on manufacturing, Prime Minister Manmohan Singh cleared
a Rs 45,000 crore investment plan of the steel ministry. Singh approved the investment proposal for ultra mega steel plants (UMSP) considering that the expanding infrastructure sector would raise demand for steel in the country. However, Planning Commission and the ministries of coal and mines objected to the approval given by the Prim