Mahindra & Mahindra Ltd on Thursday announced its plans to set up a special economic zone at Jaipur entailing an investment of $2 billion.
Tata Group's infrastructure and construction arm, Tata Projects, has bagged the contract to construct the upcoming Noida International Airport at Jewar, in Uttar Pradesh. As part of the contract, Tata Projects will construct the terminal, runway, airside infrastructure, roads, utilities, landside facilities and other ancillary buildings at the airport, Yamuna International Airport Private Limited (YIAPL) said in a statement on Friday. YIAPL is a 100 per cent subsidiary of Swiss developer Zurich Airport International AG and has been incorporated as a Special Purpose Vehicle to develop Noida International Airport. In 2019, Zurich Airport International AG won the bid to develop the airport.
National Aluminium Company (Nalco) has chalked out plans to enter the power business through the special purpose vehicle (SPV) route. The company plans to produce over 2000 MW by 2016.
A consortium led by Delhi-based Vavasi group has sent feelers to China Mobile, the world's largest telecom company, for a possible joint bid for Zain Telecom, adding another element of complexity to the battle for the Kuwait-based company that involves India's two state-owned telecom service providers.
Unitech, the country's second-largest property developer, is planning to raise nearly $1 billion (Rs 4,200 crore) in the current financial year from private equity players for its hotel, commercial and retail projects across the country.
Citigroup Property Investors has invested Rs 640 crore (Rs 6.4 billion) in four special economic zones (SEZs) being developed by the Delhi-based property developer BPTP, picking up a 40 per cent stake in the special purpose vehicle. BPTP is developing a 25 acre SEZ in Noida, 100 acre SEZ in Greater Noida, 54 acre SEZ in Faridabad and 27 acre SEZ in Gurgaon, with a total saleable space of 20 million square feet. The company has 10 ongoing projects spread across 34.66 mn sq ft.
Strong margins remain the key upside for C&C Constructions.
The 300 mw Group Captive Power Project (GCPP) being set up by Vidarbha Industries Power (VIPL), a special purpose vehicle (SPV) formed by Reliance Power, at Butibori near Nagpur in Maharashtra, will soon enter the construction phase. Sources said the required land has been acquired and the Maharashtra Pollution Control Board (MPCB) has given the green signal for setting up the project. Reliance Power will soon award the EPC contract for the Rs 1500 crore project.
Changi saw attractive returns on investment in the medium and long term from the Andal airport-city project.
Reliance Infratel, the tower business of Anil Ambani-controlled Reliance Communications, is learnt to be in talks with another tower firm GTL to part-sell its stake and also combine the businesses of both entities.
GTL has set up a special purpose vehicle -- GTL M&A Services -- through which it will provide services like engineering, operation and management, designing and building of network infrastructure. The company would provide remote network managed services from India.
We will introduce the Airtel brand in Africa in all the markets
Indications are that the demand for the passenger service will be met within a month or so, most probably by September-end.
The government on Wednesday decided to put a 49 per cent cap on foreign direct investment in the modernisation of Mumbai and Delhi airports and extended the last date for putting in expression of interest to July 20.
The cabinet has already cleared the proposal and the inter-institutional group endorsed it last Friday.
Anil Dhirubhai Ambani Group company Reliance Infrastructure (R-Infra) will soon be the official owner of the second phase of the Mumbai Metro project. The state government and the company will sign a concession agreement for the Rs 11,000-crore (Rs 110 billion) project on Thursday, according to sources.
Rlys plan 50 garib raths, 450 AC trains; SPVs planned for wagon manufacture for freight corridors.
Last week, banks were asked to factor in the loans extended to a group -- comprising subsidiaries, special purpose vehicles and related parties of a real estate company -- 'as a matter of prudence'.
Banks told to assess the exposure of the whole group to the sector while lending.
The 11.4-km Versova-Andheri-Ghatkopar corridor is set to be operational by 2010-end. Mumbai Metro One, the special purpose vehicle formed to undertake construction, has selected CSR Nanjing Puzhen Rolling Stock Company -- a 100-year-old subsidiary of the government-owned China South Locomotive and Rolling Stock Corporation.
A rail link is proposed to carry passengers from Bangalore's centre to the new international airport. The Karnataka govt. has formed a SPV for this project.
ICICI Venture has tied up with a global healthcare investor to put in funds in India's healthcare sector.
The project, which is being implemented on build-operate-transfer basis by the concessionaire Jaiprakash Associates Ltd, is expected to be completed by February 2010, before the commencement of the Commonwealth Games. A special purpose vehicle by the name Jaypee Infratech Ltd has been incorporated recently to implement the project by the concessionaire.
Voltas has entered the water treatment business and undertaken a project at Salt Lake City in Kolkata.
Adani Green Energy entered the list of top-10 most valued companies in terms of market capitalisation (m-cap) in the country on Monday after its stock price zoomed 16.3 per cent to hit a new high of Rs 2,701.6 on the BSE. Adani Green Energy's m-cap now stands at Rs 4.22 trillion, surpassing Bharti Airtel, which has an m-cap of Rs 4.16 trillion. With today's rally, the stock has zoomed about 25 per cent in the last two trading days after UAE's International Holding Company (IHC) agreed to invest Rs 3,850 crore in Adani Green Energy through preferential issue.
Oberoi Constructions, promoted by billionaire Vikas Oberoi, has tied up with the $10 billion Chinese real estate firm Shimao group to bid for the Rs 10,000-crore (Rs 100 billion) Dharavi Redevelopment Project.
Anil Dhirubhai Ambani Group company Reliance Energy Ltd on Thursday announced it has bagged three road projects valued at Rs 2,320 crore (Rs 23.2 billion) from National Highways Authority of India.
One juvenile was allegedly seen in videos misbehaving with the girl, but was not involved in rape.
The much-awaited special purpose vehicle for funding infrastructure projects is all set to take off by next month with the Prime Minister's Committee on Infrastructure giving it a green signal.
BSNL, MTNL respond to Vavasi despite advice to the contrary
Global Steel owns 70 per cent stakes in iron ore mine in Brazil and two coal mines in Columbia and Mozambique. The company is setting up three special purpose vehicles for isolating financial and regulatory risks. Ispat will purchase the stakes in these SPVs, which are held by Global Steel. The iron ore mine has an estimated reserve of 500 million tonne while the coal mines hold reserves of 120 million tonne.
The project called 'DLF MetroRail, Gurgaon' has been bagged on concession by the consortium for a period of 99 years to build and operate the metro system. The consortium, where DLF would have a 26 per cent stake while IL&FS would hold the rest, would invest invest Rs 900 crore (Rs 9 billion) in developing the project.
Maharashtra chief minister Vilas Rao Deshmukh announced on Thursday sanctiong of Rs 2,356 crore for the first corridor of Varsova-Andheri-Ghatkopar rail project jointly to Anil Ambani group company Reliance Energy and MMRDA.
Oil and Natural Gas Corporation (ONGC), the country's leading public sector company, is planning an initial public offer of ONGC Petro-additions Limited (OPaL), the special purpose vehicle formed for the Rs 13,500 crore (Rs 135 billion) petrochemical complex at Dahej in Gujarat.
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