Delhi Capitals join hands with Satya Nadella to own MLC team in US
The company, which is bidding for 16 road projects worth Rs 10,000 crore (Rs 100 billion) this year from the National Highways Authority of India under the public-private-partnership model, intends to invest the money in the form of equity to set up special purpose vehicles to execute new road projects.
K V K Seshavataram has been elected as the chairman of the board of directors of GMR Tech.\n\n
The Singapore government-controlled Temasek Holdings, which controls over 90 per cent of power generation and distribution in Singapore, will soon call for bids to privatise the two companies. The Indian companies are exploring various options to bid for these assets, said sources familar with the developments. Spokespersons of both Reliance Power and GMR Infrastructure declined to comment.
"We have held talks with equipment as well as fuel suppliers and will firm up a plan in the next one years time," GMR Energy Executive Vice-President Avinash R Shah told reporters. GMR Energy is a unit of GMR Infrastructure Ltd. Shah said the company has hired very experienced people from state-owned Nuclear Power Corporation, including former Chairman and Managing Director M R Srinivasan, for its nuclear foray.
Indian infrastructure group GMR on Wednesday agreed to buy half of US power producer InterGen for about $1.1bn from an investment firm backed by American International Group and Highstar Capital.
After a year of taking over the airport, the GMR-led Delhi International Airport consortium has initiated the process of commercial property development by inviting bids for building hotels on nearly 40 acres.
GMR-Fraport consortium has hired two international consultants for planning and architecture and is roping in a Tata group company for training employees in housekeeping functions.
The Bangalore-based GMR group has bought out the stakes of US power majors CMS Energy and Public Service Enterprise Group in Tanir Bhavi and Basin Bridge power plants in Karnataka and Tamil Nadu, respectively.
GMR Infrastructure, which owns more than 900 acres in Delhi and Hyderabad airports, is planning to raise Rs 3,000 crore (Rs 30 billion) through land securitisation.
The reasons for non-payment remain unknown. GHIAL spokesperson, Arun Bhagat, refused to comment.
GMR Hyderabad International Airport Limited (GHIAL) is unlikely to post profit in the near future even after the proposed hike in the user development fee (UDF) from Rs 340 to Rs 420 for domestic passengers and from Rs 907 to Rs 1,656 for international passengers, effective November 1.
Private players GMR and GVK groups formally took charge of the managements of the Delhi, Mumbai airports with a view to make them world-class airports.
Malaysia Airports Holdings Berhad is the minority partner with 11 per cent and 10 per cent stakes in the Hyderabad airport and the New Delhi airport respectively.
The Rail Land Development Authority has invited online bids from private players to redevelop the station into an integrated commercial, retail, and hospitality hub.
While Air India owes Rs 450 crore (Rs 4.5 billion), beleaguered Kingfisher Airlines has unpaid dues of Rs 75 crore (Rs 750 million) and both carriers have been put on the cash-and-carry mode of payment.
Reputations do go for a toss in the T20 format, but Delhi Capitals haven't been able to get past Chennai Super Kings in their last four meetings, and the margins of defeat -- 91, 27 and 77 runs respectively -- does paint a sorry picture.
From handling a jute mill to doing global infrastructure projects, Rao has come a long way.
The consortium beat six others at an auction on Thursday
Over a dozen private players, including Anil Ambani-promoted Reliance Energy Ltd (REL), real estate giant DLF and infrastructure majors GMR and L&T, are understood to have bid for modernisation of Udaipur airport.Other bidders in race for the project include Soma Constructions, L&T and Gammon India, besides Dubai-based ETA, the sources added.
Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy met business tycoons Mukesh Ambani of the Reliance Group, Naveen Jindal of Jindal Steel, G M Rao of the GMR Group, founder-chairman of Cyient B V Mohan Reddy among others at the Global Investors Summit 2023 'Advantage Andhra Pradesh' in Vishakapatnam, March 3, 2023.
189 people working at 59 Indian airports were found drunk on duty in the first half of this year, marking a 32 per cent year-on-year increase.
While about 8,000 people are in the long list of invitees, the select list features 506 A-listers, including prominent politicians, leading industrialists, top film stars, sportspersons, diplomats, judges and high priests.
According to senior officials of the National Highways Authority of India, this project is part of a larger 245-km highway development project connecting Hyderabad and Solapur.
It has been lowered to 'IND BBB+' from 'IND A-', besides placing the rating on 'Rating Watch Negative' (RWN).
In the largest acquisition of a global energy utility by an Indian company, GMR Infrastructure has bought 50 per cent in the Netherlands-based power generation company, InterGen NV for $1.1 billion (approximately Rs 4,694 crore).
To tackle increasing demand, the Union Ministry of Power has urged central and state public-sector power-generating companies (gencos) and state power and energy departments to pick projects that are undergoing insolvency proceedings. The power ministry is looking at a quicker turnaround of these stressed power plants and enhancing power supply. Increasing demand is pushing states to scout for more power sources. "It is requested that state-owned gencos may be encouraged to participate in the corporate insolvency resolution process (CIRP) of stressed power assets, which are of strategic and commercial significance to the capacity addition plans of the states concerned.
The government has a two-pronged strategy for e-auction of cancelled coal blocks.
San Francisco Unicorns, Los Angeles, New York, Seattle Orcas, Texas and Washington DC are the six teams competing in the T20 tournament, to be held in the US in July.
Delhi Capitals are likely to have a much leaner coaching staff next season with head coach Ricky Ponting's future set to be examined at the end of the season.
'This kind of a last minute order creates immense problems for airlines.'
Stephen Fleming will be the coach of Dallas-based Major League Cricket (MLC) club Texas Super Kings (TSK), which announced its partnership with IPL side Chennai Super Kings (CSK).
Airports hold pride of place in the government's National Monetisation Pipeline (NMP) programme to monetise public assets. Private airport operators, including the Adani group, Fairfax, GMR and Zurich Airport, are expected to evince interest in the next round of public private partnership (PPP) development of state-owned Airport Authority of India (AAI) airports. Industry analysts, however, do not expect bids to be as high as the last round, which saw Adani group gain control of six airports.
'I hope they all survive, but it is a tough world.' 'The carriers who are already established are already struggling.'
RPSG Group Chairman Sanjiv Goenka enjoyed himself as his newly acquired Lucknow team won by six runs to inch closer to the play-offs while JSW Group's MD and Chairman Sajjan Jindal saw his Delhi team slip to their fifth loss from nine games.
Former BCCI president Sourav Ganguly will be returning as Director of Cricket with the Delhi Capitals during IPL 2023 starting in April, sources said.
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