The Union Cabinet Committee on Economic Affairs (CCEA) has cleared premium rescheduling of road projects (means, postponement of premium payments by highway developers) and referred the matter to a panel for fine-tuning. The move could help infrastructure majors such as GMR and GVK whose projects were facing delays on account of high premium.
Tag: premium
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‘Developers can’t use toll money to widen highways’
The Union Highway Ministry, while favouring a proposal to restructure premium paid by developers to the National Highways Authority of India (NHAI), has put in a few caveats. In the tweaked proposal, the Ministry has suggested that the premium paid by a developer during the initial years cannot be lower than the toll revenue collected from that highway stretch. The developer cannot use toll revenues to widen the highway, said a source.
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GAIL to strengthen LNG trading segment
Public sector firm Gail wants to strengthen its liquefied natural gas (LNG) trading business as it may reduce the dependence of the company's earnings on the uncertain transmission segment. BC Tripathi, Chairman and Managing Director of the company said this in an analyst call. The trading segment of the company involves import of LNG cargoes into the country and then selling them in the spot
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Premium on naptha declines in global market
With many refineries in North Asia scheduled to resume operation following a shutdown for maintenance, premium on naptha has declined in the international market. Industry sources informed that June premiums were weaker than May premiums owing to expectations rise in supply of naptha as refineries resume operation. As an indication of fall in premium, Oil & Natural Gas Corp (ONGC) received a price of about $25 a tonne to Middle East quotes on a free-on-board (FOB) basis when it rece
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Govt seeks legal advice on GMR project
Government has sought legal advice on the proposal to give concession to GMR Infrastructure for implementing the Kishangarh-Udaipur-Ahmedabad project. The government seeks legal advice because the issue has wider implications for road sector and needs careful resolution in order to protect the interest of the gov
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Govt seeks legal advice on GMR project
Government has sought legal advice on the proposal to give concession to GMR Infrastructure for implementing the Kishangarh-Udaipur-Ahmedabad project. The government seeks legal advice because the issue has wider implications for road sector and needs careful resolution in order to protect the interest of the gov
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GVK may seek recast of premium payment for 330 km project
GVK Power & Infrastructure may request National Highways Authority of India (NHAI) to reschedule its premium payment for a highway project in Madhya Pradesh. Media reports suggest that the company may submit a proposal to the NHAI on the lines of infrastructure major GMR Infrastructure
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Growth in marine-hull insurance segment may slowdown
Weak financial position of shipping companies may slowdown growth in the marine-hull segment of the insurance industry, reports indicate. Marine-hull insurance is purchased by port authorities, shipowners, shipbuilders, oil- and energy-sector companies, bankers and financiers of ships or vessels who have insurable interest
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NHAI earns over Rs 17,000 cr premium
Increasing interest by private players in the highways sector has helped NHAI award 17 projects worth over Rs 25,500 crore in the last six months, leaving the authority richer by over Rs 17,000 crore in the form of premium.