Banks have been asked by the union finance ministry to disburse loan to road projects developers who have acquired 80 per cent of the required land instead of the existing norm of 100 per cent.
Tag: June
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Govt to introduce new norms for CPSE investment
The government is rationalising and consolidating the existing norms on the investment of excess cash by the Central Public Sector Enterprises (CPSEs). A committee appointed to review the investment norms for CPSEs submitted its report the finance ministry.
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Govt expects 50% infra investment to come from private sector
Sudhir Krishna, Secretary, Union Urban Development Ministry, informed that the government expects the share of private investment in infrastructure sector to rise to almost 50 per cent in the 12th Five Year Plan (2012-17).
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NSL raises $5 mn from IFC
To support the development of wind and hydro power NSL Renewable Power (NRPPL), part of the Hyderabad-based NSL Group, has raised $5 million from International Finance Corporation (IFC) through compulsorily convertible debentures (CCDs)
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AP to seek fund for JNNURM-2
Andhra Pradesh Chief Minister N Kiran Kumar Reddy said he would ask the central government to allot Rs 20,000 crore under Jawaharlal Nehru National Urban Renewal Mission-2 (JNNURM-2).
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IL&FS infra fund
A new infrastructure fund would be launched jointly by Standard Chartered Private Equity and IL&FS Investment Managers with a corpus of around $600 million. This is the second fund being launched jointly by both the firms
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RBI tightens restructuring norms of infra projects
The Reserve Bank of India (RBI) on May 30 has announced its final guidelines provisioning norms for restructured accounts and asset classification.
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Banks to fund road projects if NHAI readies 80 per cent land
If the National Highways Authority of India (NHAI) made available at least 80 per cent of the land required for public-private partnership (PPP) road projects, banks can now start lending.
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Discussion on hydro projects
The Union Power Ministry has taken up the issue of environmental and forest clearances to hydel projects with the Environment Ministry. The initiative is to encourage development of hydro sector in the country.
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ONGC mulls Rs 100 bn gas plant project
ONGC may invest nearly Rs 10,000 crore to set up an integrated gas processing plant with a capacity of 10 mmscmd in Maharashtra.