New Delhi might have loudly welcomed an age of multipolarity, hedging and strategic autonomy. But it seems the winner in that game is Islamabad, not us, points out Mihir S Sharma.
India to get a major financial boost from the US for development of infrastructure.
US Exim Bank has agreed to extend guarantee for up to 85 per cent of the $7.2 billion (Rs 33,500 crore) loan that Air India requires for replenishing its fleet with 68 new aircraft from Boeing Co.
The government on Thursday said state-owned carrier Air-India would raise funds through loan guaranteed by the US Exim Bank to part-finance its purchase of 68 aircraft costing about $7.2 billion.
The US Export-Import Bank said on Tuesday that it will provide $75 million in loan guarantees for exports of US technology, equipment and services to build Indian Oil Corp's Rs 5104 crore (Rs 51.04 billion) integrated petrochemical complex at Panipat
An environmentalist group has applauded the Export Import Bank of the United States for its decision to not to finance Reliance's coal-fired power plant in Sasan in Madhya Pradesh on the grounds that it would emit too much carbon dioxide, thus detrimental to the environment.
The clean energy sector in India will be one of the first sectors that would benefit during Prime Minister Narendra Modi's US trip. The sector awaits investments worth about $1 billion from US companies.
Brookfield Asset Management will pay around Rs 29,000 per square foot for the 170,000 square feet of space in Jet Airways' two-floor office in Bandra Kurla Complex.
After rejecting a request for financing the 4,000 MW ultra mega power project in Sasan, Madhya Pradesh, last Thursday, the Exim Bank reversed its decision on Monday after a conversation its chief Fred P Hochberg had with Anil Dhirubhai Ambani Group chairman Anil Ambani.
The announcement would help preserve 1,000 jobs in Wisconsin and 13 other states.
Jet Airways, India's largest privately-owned airline, has approached the US Exim Bank and European export credit agencies to reschedule a $2 billion loan (Rs 10,000-crore) loan that was raised to buy 27 Boeing and eight Airbus aircraft.
Paramount Airways, the Coimbatore-based private airline, is in an advanced stages of negotiations with aircraft manufacturers Airbus and Boeing for a $1 billion order of 15 wide-bodied aircraft. The deal is likely to be announced shortly.
Indian bankers are fearful that going out of their way to save Jet could lead to subsequent harassment from investigative agencies.
Currently most of its 119 planes have been taken back by the lessors and many have been leased to other airlines like SpiceJet. The second challenge is that it has to repay banks.
As the euphoria around US President Barack Obama's visit ebbs, the fine print of the investment announcements reveal a financial boost for American solar energy companies to increase their exports to India.
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