Union petroleum ministry continues to look out for a global company that can lead a consortium for implementing the 1,680-km TAPI pipeline project. The proposed pipeline will start from the South Yolotan-Osman field in Turkmenistan, passing through the troubled Herat, Helmand and Kandahar regions in Afghanistan via Quetta and Multan in Pakistan and finally ending at Fazilka (Punjab) in
Tag: Special Purpose Vehicle
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Govt may adopt SPV model for proposed port projects
According to some media reports, central government plans to develop two major ports, one each in Andhra Pradesh and West Bengal, through special purpose vehicle (SPV)-based model. The central government may contribute Rs 5,000 crore as equity for the two projects. Reports indicate that the central government may contribute 74 percent of the total project cost, while the respective state gove
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DAMEPL asked to bear debt till pact is terminated
Sudhir Krishna, Secretary of the union urban development ministry informed that the Delhi Airport Metro Express (DAMEPL) will have to bear the debt till the concession agreement is terminated. DAMPEL is the joint venture between Reliance Infrastructure and Construccionesy Auxiliar de Ferrocarriles, SA (CAF) and it operates the metro rail corridor connecting Delhi airport. The joint venture firm recently submitted termination notice to Delhi Metro Rail Corp
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Cabinet approves Rs 231 bn Mumbai metro line project
The Rs 23,136 crore Mumbai Metro line-3, which would link Colaba, Bandra, Santacruz Electronics Export Processing Zone, received approval from the union cabinet recently. The cabinet also approved the plant to set up a joint venture between the centre and Maharashtra government with equal shareholding between them. In line with the Delhi, Bangalore, Chennai and Kochi metro projects, the present special purpose vehicle (SPV), calle
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OIL to set up subsidiary for foreign operations
In the next few months, state-run energy explorer Oil India (OIL) may set up a foreign arm for exploration and acquisition of hydrocarbon assets abroad, thereby becoming the third state-run oil company to have a dedicated subsidiary for foreign operations. OIL now has presence in countries like Sudan, Libya, Venezuela, Egypt, Timor Leste, Yemen, Nigeria, Iran, the US and Gabon. In Gabon and Libya, it is the main operator of its blocks
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UT govt takes steps for Rs 109 bn metro rail project
The UT administration of Chandigarh is taking steps to implement the 37.57-km metro rail corridor project covering Chandigarh, Panchkula and SAS Nagar. The project, which is estimated to cost Rs 10,900 crore, would be implemented through a special purpose vehicle (SPV). The cost of the project would be shared between the centre, UT administration and governments of Pu
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Authority to set up SPV for metro rail project
In order to set up a 29.707 kilometre metro rail line between Noida and Greater Noida, the Noida and the Greater Noida authorities are in the process of forming a special purpose vehicle (SPV). The SPV, named Noida Metro Rail Corporation (NMRC), will see an investment of Rs 1,000 crore. It is learnt that the authorities would soon approach the registrar of companies, Uttar Pradesh, for clearance and the w
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Centre asks UT to set up SPV for metro rail project
At a review meeting, the union government asked the union territory of Chandigarh to form a special purpose vehicle (SPV) on the lines of Delhi Metro Rail Corporation (DMRC) for implementing tri-city metro rail project. The proposed project consists of two corridors – one running on a North-South axis and the other oriented East-West. From North to South the metro syst
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Andhra govt, railways to implement Rs 650 cr project
Andhra government and Rail Vikas Nigam are in the process of jointly implementing a Rs 650-crore phase II multi-modal transport system project in Hyderabad. Both the entities would set up a special purpose vehicle to implement the project and the cost would be shared by them in the ratio of two-thirds (Andhra Pradesh government) and one-third (south central Railw
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Govt mulls SPV for developing coal blocks under PPP
According to a blueprint prepared by the finance ministry, a special purpose vehicle (SPV) would be created for developing coal blocks in the country on public private participation (PPP) model. The government has identified 10 cluster blocks for development under PPP model and the SPV would be set up for each of these