To cut down its debt burdern of about Rs 21,976 .18 crore, Reliance Infrastructure (R-Infra) is mulling to sell either all or most of its 11 road projects. R-Infra is a part of the Anil Ambani-led Reliance Group. R-Infra has appointed consulting firm EY or Ernst and Young, to oversee the sale.
Tag: Road projects
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Rescheduling for road projects cleared
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.
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TN likely to get Rs 8,583 cr for road works
The Tamil Nadu government is likely to get Rs 8,583 crore for various road projects of 1,678 km of length. The road works are expected to commence from next year, Rajeev Ranjan, Principal Secretary, Highways and Minor Ports, said in Chennai on October 7.
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No SBI loans to road projects with land issues
Proposed road projects that have not finished the acquisition of the required land for the purpose will not get loans from State Bank of India (SBI). The decision has been taken by SBI on the requisition of Central Bureau of Investigation and Chief Vigilance Commission. SBI is IndiaÂ’s biggest moneylender.
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Haryana gets green signal for major road projects
The Union government has okayed major road projects in Haryana including a six-lane flyover along the national highway-8, construction of flyover at Bahalgarh Chowk and widening of a bridge near Rasoi village in Sonepat district, said the State Chief Minister Bhupinder Singh Hooda on September 18.
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NHAI cancels road projects due to delay
The board of National Highways Authority of India (NHAI) cancelled three road projects which have seen no progress in implementation despite being awarded. The authority decided to cancel at least five such projects including the above three projects.
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Quick fix
A closed group discussion recently conducted by ASAPP Media in New Delhi focused on speedy solutions to give India Inc's $1 trillion infrastructure programme a big push. Shrikant Rao, who also moderated the discussion, reports.
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Concern over delay in PMGSY road projects in Odisha
In Odisha, implementation of road projects under the Pradhan Mantri Gram Sadak Yojana (PMGSY) are getting delayed and the Union government has expressed concern on the same. The Union government is also worried over the quality of the construction work of the roads under PMGSY. This has been conveyed to the Odisha Chief Minister Naveen Patnaik by the Union Rural Development Minister Jairam Ramesh through a letter.
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L&T to raise Rs 2,500 cr for IDPL road portfolio
Engineering major Larsen & Toubro is exploring an option to raise between Rs 2,000 crore - Rs 2,500 crore by clubbing operational road projects of its infrastructure development arm L&T IDPL into a separate entity which could be listed overseas through a business trust model. This proposal was separately mooted by a European as well as a Japanese bank to the company. This new idea is based on the increasing popularity of the model amongst global financial investors who are scouting for high qual
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JK mulls road projects
Jammu and Kashmir government has proposed 16 vital road projects before the Union government under the centrally sponsored scheme, Central Road Fund (CRF) for 2013-14.