GMR, Tata, Jindal will set up hydro projects in Nepal, sell power to India.
The past appears to have interrupted the future of the New Delhi Railway Station (NDLS). With two protected heritage buildings sitting in the way of the plan to redevelop the railway station, officials in the know say the project may end up back on the drawing board since the National Monuments Authority (NMA), the body tasked with the protection and preservation of monuments and sites, is yet to give its approval. "A nod from NMA is awaited before going into the next phase of bids for the redevelopment of the New Delhi Railway Station," a senior official of the Ministry of Railways told Business Standard. While the Railways ministry is hopeful of getting approvals from the NMA before the end of the current financial year, there is no clarity on this yet.
A total of 17 cases have been filed against Kingfisher Airlines in different courts over outstanding amount of Rs 22.5 crore, which it owes to GMR
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.
Dhawan returns to Delhi for the 2019 season after being traded by Sunrisers Hyderabad. Australian great Ricky Ponting will continue to coach the team.
The quantum of punishment is expected to be pronounced on May 5 by the court.
Visitors from 11 countries will be eligible to get a VoA from May 31 at Rajiv Gandhi International Airport, GMR said.
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.
Two years after it handed over the Male International Airport's operations to Indian infrastructure major GMR, the Maldives' state-run MACL was back at the helm on Saturday.
Samridhi Bhardwaj analyses the dynamics of duty-free liquor allowance in India.
The Maldives government is going ahead with its plan to take full control of Male airport after ousting India's GMR even as New Delhi warned that arbitrary and coercive action without waiting for the outcome of legal proceedings on the issue would have adverse consequences for bilateral relations.
The change in leadership at the railway ministry comes at a time when the national transporter is grappling with low passenger earnings even as it is trying to increase freight loading and open up its doors to private investment. Union Minister Ashwini Vaishnaw took charge from Piyush Goyal who got the railway portfolio in 2017 after Prime Minister Narendra Modii dropped Suresh Prabhu from the Union Cabinet. Completing freight corridors, negotiating land for the bullet train, and speeding up monetisation plans would be some of the major focus areas for Vaishnaw.
The 10 teams in the league will be bidding heavily for the Indian players in a list of 590 cricketer
The Rajiv Gandhi International Airport, which is being developed by GMR on the outskirts of Hyderabad, will be the first greenfield public-private partnership (PPP) airport to be operational in March 16.
On April 20, the Special Magistrate Court had convicted Mallya and others, in connection with bouncing of two cheques of Rs 50 lakh each
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.
SBI Capital, Axis Capital, GMR Holdings, United Breweries, Alpic Finance (a Cipla group unit), Saradha Realty, United Bank of India and Trident India are among the prominent entities named in the list.
GMR Infrastructure has awarded the contract for managing the automated parking management system at Hyderabad Airport to Malaysia-based Tenaga Group.
GMR's team will be based in Johannesburg with young Protea paceman Kagiso Rabada as its marquee player while Khan's outfit will be based in Cape Town with left-handed batsman JP Duminy as the marquee player.
GMR Hyderabad International Airport Limited (GHIAL), promoted by the GMR Group, has devised a three-pronged strategy to improve its revenues in the wake of a dip in the real estate market here, sources close to the development said.
GM Rao has been quite active in philanthropic activities for quite some time through GMR Varalakshmi Foundation.
The survey, conducted by non-profit organisation Catalyst in 2013, covers 5,977 companies in 44 countries and draws on work done by GMR Ratings.
GMR-led Delhi Airport had accepted the government's request to shift UDAN flights to Hindon Air Force Base, but airlines say poor last mile connectivity will have to be dealt with first before starting operations
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.
Temperature screening will be done by CISF with automated thermal cameras at all terminal entry points with provision of social distancing markers. Automatic hand sanitizer dispensers at terminal entry points have also been placed, sources said.
India story, pressure to invest are driving spurt in PE activity.
Dashing opener Virender Sehwag has stepped down as captain of Indian Premier League team Delhi Daredevils. Gautam Gambhir was named his replacement, and will lead the side in next month's Champions League Twenty20. Dinesh Karthik will be Gambhir's deputy.
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.
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.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
"The levy of UDF has become necessary in view of the huge investments made by the GMR-led consortium for creating the world class facilities for the passengers who use the greenfield airport," GMR HIAL Chief Commercial Officer Viswanath Attaluri said. The company has developed the first phase of the airport with an investment of Rs 2,478 crore (Rs 24.78 billion).
Private airport developers under the public-private partnership model will not be able to get additional contracts in and around the airport that are part of the original project by merely matching the lowest bidder without participating in the bidding process.
Even after getting the civil aviation ministry's nod to levy user development fee on international passengers, the GMR group-promoted Hyderabad airport has decided not to impose the levy for at least a month. GMR has already decided to exempt domestic passengers for the time being. "We have decided to let issues like groundhandling charges stabilise before taking a call," said a Hyderabad airport executive.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Before the pandemic hit the world and led to shutdowns, the company had received nearly half a dozen offers. But bidders are now withdrawing. They want to reassess the situation. They want to conserve cash and avoid acquisition.
Slots, parking bays unavailable at major airports
After the playing ground and television, the marketing of the DLF Indian Premier League has moved to cyberspace. Some of the teams have drawn up plans to beef up their web presence with new interactive features. GMR Holding's Delhi Daredevils team plans to introduce a 3D interactive feature on its portal for e-learning in sports.
In a development that could speed up the about Rs 9,000 crore (Rs 90 billion) Delhi Airport modernisation work, the Attorney General has supported project promoter GMR Group's plan to take advances from commercial developers. The report may help Delhi International Airport Ltd) achieve financial closure for the Rs 8,900 crore (Rs 89 billion) project for which the company has proposed to raise Rs 3,144 crore (Rs 31.44 billion) by way of trade advances and deposits.
Australian fast bowling great Dennis Lillee on Wednesday joined Delhi Daredevils, the Delhi Indian Premier League team owned by GMR Sports. "It feels great to be a part of GMR Sports and Delhi Daredevils. I've known many of the young players in the Delhi Daredevils squad and am naturally delighted to be part of this team," he said.
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