Infrastructure Sector

CCI asks ministries to clear decks for infrastructure projects

CCI asks ministries to clear decks for infrastructure projects

The Cabinet Committee on Investment (CII) on Monday directed ministries concerned to clear nearly 36 infrastructure projects within the next 60 days, sources revealed.

A number of mega infrastructure projects, including 18 power plant projects, have long been stuck due to various issues. While the biggest stumbling block in the clearance of the power project is delay in the signing of fuel supply agreements (FSAs), the remaining projects worth nearly Rs 92,000 crore have been stuck because of reasons like delays in required clearances from various ministries.

IDFC appoints new chairman; net jumps 37%

IDFC appoints new chairman; net jumps 37%

Infrastructure financier IDFC has announced that its current Managing Director & Chief Executive Officer Rajiv Lall would replace outgoing chairman Deepak Parekh.

Mr. Parekh will leave the government-promoted IDFC to chair the IDFC advisory council - consultative body that will be formed within the next few months. Mr. Parekh has been the chairman of the government promoted infrastructure financier for the last fifteen years.

Govt. clears 25 oil & gas blocks, 13 power projects

Govt. clears 25 oil & gas blocks, 13 power projects

The government on Monday cleared a slew of infrastructure projects in the oil & gas sectors, freeing up an estimated Rs 25,000 crore (around $4.61 billion) of investments.

The blocks cleared by the Cabinet Committee on Investment (CCI) were among the 31 blocks that were stalled on account of security restrictions enforced by the ministry of defence.

The cleared blocks included 13 of Reliance Industries Ltd-BP combine, 15 of state-owned Oil & Natural Gas Corp (ONGC), two of Santos of Australia and one of consortium led by Cairn India.

IVRCL to sell three road projects to Tata Roads

IVRCL to sell three road projects to Tata Roads

Infrastructure giant IVRCL on Monday announced that it entered into a deal with Tata Group subsidiary TRIL Roads to sell three of its road assets.

The three assets, which will be offloaded as part of the Hyderabad-based firm's strategy to monetize its build-operate-transfer assets, are: Salem toll-way, Kumarapalayam toll-way and Chengapally toll-way.

While Salem toll-way and Kumarapalayam toll-way are ready; Chengapally toll-way is currently under construction. The combined cost of developing the three toll-ways has been estimated at Rs 2,200 crore.

Bangalore airport expansion starts in June

Bangalore airport expansion starts in JuneLarsen & Toubro (L&T) is the company which will carry the expansion of Bangalore’s airport as it has won the bid of Rs 1,000 crore project. The project will begin next month and it is hopeful that expansion of passenger terminal will be completed by December 2012.

At present, terminal is operating at its full capacity so there is an immediate need for the expansion of the terminal.

Punj Infrastructure received order from NHAI

Punj Infrastructure received order from NHAI

Punj Lloyd Infrastructure Limited which is a subsidiary of Punj Lloyd has received an order of Rs. 735 crore. This huge order was given by National Highway Authority of India (NHAI).

Punj Lloyd official has stated that, this order is given for implementing infrastructure development projects on behalf of NHAI.

IL&FS to take control of Maytas

IL&FS to take control of Maytas

Maytas Properties will now hand over the controlling stake to IL&FS. The decision has been given a nod by the company law board. Maytas properties is a company promoted by the ex Satyam chairman B Ramalinga Raju' family.

The formalities have started for handing over the controlling stake of Maytas Properties to IL&FS.

PPP for the people, who cannot pay, says FM

PPP for the people, who cannot pay, says FM

The public-private partnership (PPP) projects, in infrastructure services should also be directed to people who cannot pay, said the Finance Minister Pranab Mukherjee.

These projects covering a wide array of projects in various sectors, education, health, skill development, mass housing, rural infrastructure and job creation would also mean inclusive growth for the country. He further went on to add that people capable of paying should b made to pay which ensures efficiency in the system and also agreed on the point that the PPPs mostly are directed towards people who can afford to pay.

IDFC's capital raising initiatives

IDFC's capital raising initiatives

Infrastructure Development Finance Company has decided to toast up approximately Rs 3,500 crore of rank 1 capital which has been given the green signal by the Board of Directors and Shareholders.

Further the IDFC group has decided to hoist up Rs 2,654 crore from the preceding of its shares through the Qualified Institutional Placement path. However the QIP was crafted at a price of Rs 168.25 per share.

China spends a $100 billion to improve infrastructure in the impoverished west

Ketan Sharma

China has revealed that it plans to invest in excess of $100 billion this year; the investment will be spread out among 23 infrastructure projects in poverty stricken western regions as it attempts to boost domestic demand.

The National Development and Reform Commission said on its website that the 682.2 billion Yuan will be used to build roads, railways, airports, nuclear power station, coal mines and power grids.