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
Tag: SPV
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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
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NHAI allows IDFC to pick up 74% stake in Delhi-Gurgaon e-way
The National Highway Authority of India (NHAI) allowed IDFC to pick up 74 per cent stake in the Delhi-Gurgaon expressway project from its original promoters. Following the acquisition of the controlling stake, IDFC, which is the leading lender to the project, is expected to manage the project efficiently to recover its inves
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Paradip ore terminal project faces inordinate delay
The proposed iron ore terminal project at Paradip Port Trust (PPT) is facing inordinate delay because of lack of environment and forest clearances, and court cases over relocation of iron ore plots. Blue Water Iron Ore Terminal, a special purpose vehicle floated by the Hong Kong-based Noble Group, in partnership with Gammon Infrastructure Projects and MMT
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Kochi metro plans SPV for transport project
In order to facilitate coordinated planning and implementation of the cityÂ’s transportation network, Kochi Metro Rail (KMRL) plans to set up a special purpose vehicle. The SPV, which would be set up under the aegis of the Unified Metropolitan Authority, would focus on the development of Kochi city's waterways, which will be integ
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Bankers to lend `8.3 bn for `11 bn road project
A consortium of bankers agreed to provide Rs 830 crore syndicated loan to Hospet-Chitradurga Tollways (HCTL) for the Rs 1,102.81-crore road project in Karnataka. HCTL is a special purpose vehicle (SPV) formed to undertake the Hospet- Chitradurga road project by Ramky Infrastructure. The consortium of bankers comprises Axis Bank, IDBI Bank, Bank of India, IIFCL, State Bank of Hyderabad, State Bank of Patiala, State Bank of Travancore, Central Bank of India and Oriental Bank of Commerce, Ramky Inf