Media reports indicate that GOL Offshore may use its unencumbered assets to raise funds for repaying the FCCB, which was due for redemption in October. While the company was to repay the bond holders in October 2012, it sought extension of the repayment period till April, which the bondholders rejected
Tag: investment
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RINL to expand capacity by raising debt
AP Choudhary, Chairman and Managing Director of Rashtriya Ispat Nigam (RINL) said the firm plans to mop up Rs 400-500 crore through debt market in the near future. Speaking on the sidelines of a steel summit, he said the company plans to use the fund for expansion plans. But he did not disclose the timeline for the proposed fund raising plan
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Railways start work on Rs 15 bn project in Andha
The Indian Railways started work on the Rs 1,500 crore project in Andhra Pradesh. The project, which involves doubling or electrification, is spread over 221 km covering 51 railway stations. It would cover Vijayawada-Gudivada-Machilipatnam, Gudivada-Bhimavaram, Narsapur-Bhimavaram-Nidadavolu secti
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SAIL to focus on research and development
State-run Steel Authority of India (SAIL) plans to focus on research and development and technological upgradation in the areas of raw materials and product development in order to increase its efficiency. As part of this plan, the leading steel maker in the country decided to raise its R&D spending to 1 per cent of gross sales every year from the current level of arou
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Study shows steel firms must attain raw material security
Long-term success of steel companies would be determined by investment in raw material security, capital project management, customer centric measures, a study by consulting firm Accenture shows. The study also laid emphasis on building differentiated supply chains and securing human capital for t
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SAIL’s special product output rises 4% in FY13
Steel Authority of India (SAIL) produced over 5 million tonne (mn t) of special steel products designed for specific end-use in 2012-13. This is a growth of 4 percent over the last fiscal. SAIL's Bokaro unit introduced ultra high strength hot rolled and cold rolled (CR) steel, for use in auto body components in
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Legal experts find loopholes in lease deed
Legal experts warned that the Cochin Port Trust (CPT) may lose 26 acre of prime land at Bolgatty island if the lease holder raises loan against the land and fails to repay it. On July 26, 2011, the port authority leased out the land to a private developer by signing a lease deed. According to the deed, the lessee may seek permission from the port authority to raise loan against the la
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Experts suggest policy steps to boost affordable housing in urban areas
Experts suggest the government to liberalise obsolete development norms, rationalise floor area ratio and density in order to address shortage of housing in urban areas. According to experts, the process of urbanisation may grow at a compounded annual growth rate of more than two per cent over the next two decades and this c
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Govt may set up coal regulatory authority in 4 months
In the next two to four months, Indian government plans to set up an independent regulatory authority for coal sector, Finance Minister P Chidambaram said at the Canada India Business Council meeting. The proposed regulatory authority would become effective mechanisms to address problems being faced in the implementation of coal projects
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MP govt takes steps to implement metro rail projects
Urban Development and Administration Minister of Madhya Pradesh Babulal Gaur informed media persons that the state government was taking steps to implement metro rail projects in Bhopal and Indore. He said the state government reached the final stages in the process of inviting tenders to prepare the Detailed Project Report (DPR) for the projects in