The project, located 65 km north-west of the Alpha township, will rely on the railway infrastructure of the Alpha Coal project to transport coal to the Port of Abbot Point, Bowen.
FDI of $500 million will come into the country with the Cabinet Committee on Economic Affairs clearing a proposal of the GVK Power and Infrastructure Ltd to issue over 78 lakh shares to NRI shareholders of its sister concern GVK Industries Ltd.
R-Infra quoted Rs 42-crore (Rs 420-million) premium over the bids of rival companies such as GVK Power and Infrastructure Limited, GMR Infrastructure, B Sennaih and C&C, JMC Srei and Sadhbhav, sources told Business Standard.
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FIRs have been registered against top officials of the aviation ministry, GVK Ltd and police department on a complaint that Mumbai International Airport Ltd (MIAL) received undue benefit to the tune of hundreds of crores of rupees from the government.
Billionaire Gautam Adani's Adani group on Monday said it has reached an agreement to acquire GVK group's shareholding and control of Mumbai airport.
ArcelorMittal, Anglo Australian major Rio Tinto, Hyderabad-based GVK Power & Infrastructure, Essar Mineral Resources and JSW Steel are among 10 prominent corporations in a shortlist to develop 18 abandoned coal mines owned by state-owned Coal India Ltd and its eight subsidiaries.
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Indian companies are keenly waiting for reforms on rules related to land acquisition, labour, coal and power sector, and foreign direct investment in insurance sector.
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A sluggish economy and stalled bureaucratic decision-making for the past two years thwarted capital investment and dented earnings, making it tough for the companies to raise funds.
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Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
Around 300 promoters serve their company boards for free.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
Mumbai airport is the largest gateway for movement of pharma and agro products in the country.
The S&P BSE Sensex ended down 371 points at 24,966 and the Nifty50 closed 101 points lower at 7,615.
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A ministry spokesperson said he wasn't aware of the development.
SC judges suspected a lack of objective criteria in the selection.
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Happy at the clear mandate given by voters to the BJP-led NDA, India Inc on Friday exuded confidence that Narendra Modi will initiate bold and decisive policy reforms to promote economic growth.
Sale at acquisition price may have been prompted by slow coal traffic and fall in prices.
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It is hoped that the decision of India's apex court will send a signal to politicians and their cronies from the world of business that the rule of the law does eventually prevail, says Paranjoy Guha Thakurta.
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