Infrastructure status for affordable housing was a long-standing requirement of the sector. This move should boost the volume of construction activity across the country, which has been struggling with reduction in the number of projects being launched over the last few quarters.
Tag: investment
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Lone Star to invest in stressed projects
Private equity firm Lone Star has joined hands with IL&FS to invest in struggling Indian infrastructure projects. The tie-up will have an investment corpus of $550 million, which could result in asset purchases of up to $2.5 billion, according to the partners.
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Adani Ports to develop phase-III of Mundra Port for Rs 6,000 crore
Adani Ports and SEZ Ltd will invest Rs 6,000 crore for the development of the third phase of Mundra Port.
The upcoming capacity expansion of Mundra Port, touted as one of the top multi-purpose ports in the country in terms of traffic, would lead to employment generation for 600 people, sources said.
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The economy is slowing down
There has been little clarity on the subject. The rates of commercial realty are coming down as a direct consequence. However, while the direct buying/selling market has witnessed sharp corrections, the rental office space business has witnessed no change.
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Centre approves construction of another 52,319 houses under PMAY
The Central government has approved construction of another 52,319 houses for the urban poor, including 11,286 houses in poll-bound Uttar Pradesh, under the Pradhan Mantri Awas Yojana (PMAY-Urban).
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Centre to give Rs 489 cr for DelhiĆĀ“s water supply
The Ministry of Urban Development has approved the Annual Action Plan of Delhi for 2016-17 under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) with a project investment of Rs 266 crore for improving water supply and sewerage networks.
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India Grid Trust to go in for IPO
India Grid Trust has filed its draft red herring prospectus with SEBI for a proposed IPO of Rs 2,650 crore. The investment trust, sponsored by Sterlite Power Grid Ventures Ltd, owns inter-state power transmission assets in India.
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India sees $20 billion investment in gas fields
India will see an investment of about $20 billion in gas field development in the next 5-7 years and is looking to boost usage of the green fuel and double consumption, Oil Minister Dharmendra Pradhan has said.
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OVL wants oil in lieu of $537 million cash due from Venezuela
ONGC Videsh Ltd (OVL), the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), wants $537 million worth of crude oil in lieu of cash due for its share of sales from Venezuelan oilfield. OVL owns 40 per cent of the San Cristobal field and invested $190 million in 2008.
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National Civil Aviation Policy to boost tourism
Ashok Gajapathi Raju Pusapati, Minister of Civil Aviation, has said that the government has taken a number of initiatives to make tourism affordable and accessible to the international traveller.