IL&FS Infra Asset Management (IAML), an Asset Management Company (AMC) signed a Memorandum of Understanding (MoU) with eight Public Sector Banks (PSBs) for acquisition of infrastructure loans. IAML was promoted by IL&FS Financial Services (IFIN) to manage the IL&FS Infrastructure Debt Fund (IIDF
Tag: Memorandum of Understanding
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Task force suggests renewal of 11 MoUs
The Odisha government's task force on steel recommended renewal of memorandum of understanding (MoUs) of 11 steel companies in the state based on milestones achieved. The 11 MoUs are part of a list of 15 steel projects whose field verification has been completed by Ipicol. The draft MoUs of the 11 steel companies are prepared by the state steel & mines department. Ipicol will take the views of other concerned departments on the MoU, said steel & min
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Chennai port to adopt RFD to gauge performance
Chennai Port Trust (ChPT) decided to adopt Results Framework Document (RFD) in order to measure its operational performance instead of the current Memorandum of Understanding (MoU). The port would prepare a plan of action in 2013-14 based on the RFD for generating traffic based on clean cargo. The port would segregate capacity addition into three
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CSL agrees to repair vessels of UTL
According to a Memorandum Of Understanding (MoU) signed by Union Territory of Lakshadweep (UTL) with Cochin Shipyard (CSL) the latter would repair the vessels of the former on a regular basis. LDCL will submit a tentative schedule for repairs of all their ships by November every year to CSL indicating the approximate schedule and repair duration of ships in the ensui
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EIL aims to achieve higher turnover in 2013-14
Engineers India (EIL) agreed to achieve a higher turnover and gross margin in 2013-14 and give emphasis on human resource and research and development initiatives in a Memorandum of Understanding (MoU) signed with the Government of India recently.
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GAIL aims transmission of 110 mmscmd of gas in FY14
According to a company statement, state-owned gas utility GAIL India agreed to aim transmission of 110 million standard cubic meter per day of natural gas through its pipeline network in 2013-14. The company aims to sell 84.05 mmscmd of gas during the year, according to the performance memorandum of understanding (MoU) signed by the company with the government
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OIL, IOT agree to collaborate on oil and gas distribution
Oil India (OIL) agreed to explore the development of city or natural gas distribution network in India and overseas in partnership with IOT Infrastructure & Energy Services. Both the firms signed a memorandum of understanding (MoU) in this regard recently. The MoU is for the EPC (Engineering-Procurement-Construction) jobs related to the distribution network of gas
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India, Brazil to sign pact on cooperation in steel sector
The Minister of Steel, Beni Prasad Verma has said that a Letter of intent has been signed recently in February, 2013 between Ministry of Steel, Govt. of India and Ministry of Mines and Energy, Federative Republic of Brazil to promote and expand bilateral relations in mineral and steel sector. Next step is to sign a Memorandum of Understanding (MoU) between the Government of Brazil and Gov
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KMRL hopes to implement project as per schedule
Elias George, Managing Director of Kochi Metro Rail (KMRL) expressed hope that there would not be any delay in implementing the metro rail project and it would stick to the schedule. The implementing agency also said that National Highway Authority of India (NHAI) already gave an in-principle approval to carry out construction of the Metro on th
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BHEL agrees to set up MEMU manufacturing unit
Bharat Heavy Electricals (BHEL) signed a Memorandum of Understanding (MoU) with the Indian Railways to set up a Greenfield MEMU coaches manufacturing facility at Bhilwara in Rajasthan. Indian Railways introduced Main Line Electric Multiple Unit Trains, popularly known as MEMU trains, in the Year 1994-95, as a mode of rapid transit system, to cate