The latest to join the list of projects that have achieved financial closure are two power projects -- 1,050 Mw GMR Kamalanga Energy of GMR Energy coming up at Dhenkanal in Orissa and the second phase 300 Mw Rosa power project in Uttar Pradesh promoted by Reliance Power. Experts said financial closure for another Rs 100,000 crore worth of projects are likely to be achieved in this calendar year, mainly from the power and infrastructure sector.
With six airports handed over to the Adani group for 50 years, the government is now all set to hand over another 25 airports to private players in a bid to 'monetise' them. Official figures reveal that since 2017-18, the government has spent and will be spending Rs 14,500 crore on significantly revamping infrastructure at most of these airports before handing them over to private players. The Airports Authority of India (AAI), which operates these airports for the government, has spent billions of rupees in building new terminal buildings, runways, reinforcing taxiways, upgrading aircraft landing systems, radars and a host of other heavy duty and capital intensive infrastructure works.
Around 300 promoters serve their company boards for free.
The realty companies include Housing Development and Infrastructure Ltd and Hyderabad-based Vasundhara Projects, while the oil services company is Hydrocarbon Resources Development.
Adani said he expected the number of flyers in the country to grow five-fold, which means India would require 200 additional airports to handle over 1 billion domestic and international passengers across the tier-1, -2 and -3 cities.
With global markets pushing ahead, enthused by strengthening US jobs market, and also due to prospects of European rate hike, Indian markets also continued the march ahead.
The RBI should provide readily accessible summary information on its website about all corporate debt defaulters and the amounts involved.
Maldives will go ahead with the transfer as scheduled, said Press Secretary Masood Imad.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The company on Monday said, in a communication to the stock exchanges, that it had terminated an agreement it had with the National Highways Authority of India.
L&T IDPL, Gammon, IL&FS in race for Rs 21,147-cr Mumbai elevated rail corridor
GVK Group that runs the swanky MIAL (Mumbai international airport) pipped rival GMR Group to bag the contract for the proposed facility in Navi Mumbai which will ease the severe congestion at the Chhatrapati Shivaji International Airport.
Three Indian companies are among the six shortlised to bid for the privatisation of the Male International Airport in Maldives.
The Sensex ended above 27,000 for the first time while the Nifty topped 8,100.
The Adanis were the highest bidder for the Ahmedabad, Thiruvananthapuram, Lucknow, Mangaluru and Jaipur airports.
Private airport developers in Delhi, Mumbai, Hyderabad and Bangalore, say landing and parking fees account for a significant proportion of revenues, so offering these services free would be unviable.
The likes of SRK, Nirula and Mallya are in the race to own an IPL team for the upcoming Twenty20 series.
Delhi International Airport Ltd, the five-company consortium led by Bangalore-based infrastructure conglomerate GMR Group that is upgrading Delhi airport, has managed to raise over Rs 1,000 crore (10 billion) to meet its financial obligations for the Rs 8,890-crore (80 billion) project.
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
The finance ministry has opposed the proposed airport at Greater Noida, and has instead favoured upgrading infrastructure at Delhi airport, which it says makes more economic sense. This has come as a shot in the arm for the GMR group, the private sector developer of Delhi airport, which has been opposing another airport so close to the existing one.
From 5G to Tesla to Covid vaccine, 10 things will shape India's future.
Adani Airports is planning to centre its airport business around Mumbai and Ahmedabad by developing them as gateway airports, feeding them with traffic from other airports in the company's portfolio. The Ahmedabad-based conglomerate - with investments in logistics, transportation, utilities and energy - intends to spend Rs 35,000 crore in the airport business in the next five years. This forms the bulk of the conglomerate's total capex of Rs 50,000 crore. According to a presentation given by the company in an investor call with Bank of America, gateway airports of Mumbai and Ahmedabad will be connected with the feeder airports of Lucknow, Guwahati, Trivandrum, Jaipur and Mangalore.
Transcript of the market chat with Pranav Sanghavi.
Strangely, a few days after filing the charges, the CBI teams arrived in Hyderabad and Mumbai to raid GVK's offices and found incriminating evidence, a reversal of the normal course of events.
Indian Railway Catering and Tourism Corporation (IRCTC), the Indian Railways' wholly-owned listed subsidiary, is eyeing partnerships to offset recurring costs incurred in train operations, which is part of its two-year-old diversification from core catering and ticketing businesses. To this end, it is courting public sector undertakings such as Bharat Heavy Electricals (BHEL) and others to create a special purpose vehicle for the routes for which IRCTC has bid. The Railway ministry opened bids for public private partnerships in passenger train operations in July 2021 and received bids to operate 29 pairs of trains with around 40 modern rakes that would entail an investment of Rs 7,200 crore.
Tata Power, GMR Energy and GVK Power are eyeing the capital's Rs 175-cr first waste-to-energy project.
At 11:37 am, the S&P BSE Sensex was up 28 points at 27,037 and the Nifty50 was up 2 points at 8,268
With Indian infrastructure companies burdened with debt, global PE funds and developers sense an opportunity to buy the airports cheap
India's billionaires are pledging a decent amount of their wealth for the welfare of society.
The Rs 63,000-cr Mumbai-Ahmedabad high-speed corridor and Rs 14,000-cr CSTM-Panvel suburban corridor are two of the largest projects.
20 new industrial clusters will be developed in 2014-15.
These include Great Eastern Energy Corporation and Shemaroo Entertainment.
Firms are still barred from holding board positions in the special purpose vehicle that will develop the airport.
The sale of Essar Oil was India's biggest deleveraging exercise undertaken by any debt-heavy group
In a bid to woo foreign investors, the Indian Railways is planning to organise road shows in select countries showcasing opportunities for investment in the rail sector.
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
