As part of its initiative to boost railway connectivity, the railway ministry plans to spend about Rs 4,000 crore to upgrade rail connectivity to coal mines. The investment, once materialises, would boost fuel supplies to power projects. Many power projects are suffering insufficient coal supply because of lack of rail conn
Tag: investment
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Survey expects rebound in economy in 2013-14
The Economic Survey for 2012-13 expects the Indian economy to grow between 6.1 and 6.7 per cent in 2013-14, which is higher than the advance estimate of 5.0 percent growth in the current financial year. The survey has
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Rail Budget proposes Rs 634 bn investment in FY14
Union Railway Minister Pawan Kumar Bansal announced a planned investment of Rs 63,363 crore for 2013-14, including Rs 600 crore from public private partnership (PPP) route. He said this while presenting the railway budget for 2013-14 in Parliament today.
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SBI lends Rs 62 bn to Visakhapatnam Steel Plant
Visakhapatnam Steel Plant borrowed Rs 6,200 crore from the State Bank of India (SBI) in order to finance its business expenditure. Speaking to reporters, Pratip Chaudhuri, Chairman of SBI said the bank's loan to the RINL “is the biggest contribution it is making to the industrial development of this
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Karnataka govt seeks nod for 11 rail projects
In a letter to Railways Minister PK Bansal, Karnataka Chief Minister Jagadish Shettar requested approval for 11 new railway projects for the state. He informed the minister that the state government has already conveyed its willingness to provide land free of cost and share the cost of construction of the projects on a 50:50 basis. These projects include Tumkur-Kunigal-Maddur; Tiptur-Dudda; Gada
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FIPB to consider AirAsia’s JV plan on 6 March
The foreign investment promotion board (FIPB) headed by economic affairs secretary Arvind Mayaram would consider on March 6 the investment plan of MalaysiaÂ’s AirAsia in a proposed joint venture with Tata Group for launching airline operation. AirAsia has applied to FIPB to take 49 percent in a ventu
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ONGC yet to decide on selling stake in Cambay block
State-run explorer Oil and Natural Gas Corporation (ONGC) is yet to decide on selling its stake in the Mehsana block in the eastern flank of the Cambay basin of Gujarat to its partner Essar Energy. It is learnt that Essar, which owns 70 per cent stake in the block, wants to take full control of it. The government is learnt to have awarded the block prior to the
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Govt takes efforts to boost inland water transport sector
While speaking at a CII event, Shipping Secretary PK Sinha informed that his ministry was exploring several ways to raise the share of inland waterways, create right policy and fiscal environment. He stressed on the need to increase the share of inland waterways and ensure seamless connectivity. He said the government is in the process of identifying criti
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RIL, BP bank on $5 bn investment to reverse fall in output
According to a joint statement from Reliance Industries (RIL) and BP, their jointly proposed $5 billion investment includes testing of a new layer of natural gas under the rapidly depleting fields in the KG-D6 fields. Both the firms agreed to invest jointly of $5 billion in the next few years to boost natural gas output in the flagging Krishna Godavari (KG) D6 basin gradually from 201
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RIL, BP bank on $5 bn investment to reverse fall in output
According to a joint statement from Reliance Industries (RIL) and BP, their jointly proposed $5 billion investment includes testing of a new layer of natural gas under the rapidly depleting fields in the KG-D6 fields. Both the firms agreed to invest jointly of $5 billion in the next few years to boost natural gas output in the flagging Krishna Godavari (KG) D6 basin gradually from 201