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.
Videocon group has signed an agreement with West Bengal government to set up a steel plant and a power project in the state with total investment of about Rs 15,000 crore.Videocon, which already has interests in oil and gas, plans to establish a three million tonne steel plant and a 1,200 MW thermal power project in Asansol-Durgapur area in Burdwan district.
Sasan Power Ltd, the special purpose vehicle floated by Power Finance Corporation for the 4,000 MW project, will on Wednesday issue the Letter of Intent to Reliance Power Ltd.
ONGC is considering selling up to 25 per cent of the equity shares in ONGC Petro-additions Ltd (OPaL), the special purpose vehicle formed for setting up the petrochemical complex at Dahej SEZ, a senior company official said. It plans to give 19 per cent equity stake in OPaL to state-run gas utility GAIL India, while another 25 per cent interest may be offered to Petronet LNG and Bharat Petroleum or a strategic partner.
The oil and gas major ONGC is likely to offload 34 per cent equity in its special purpose vehicle ONGC Petro-additions formed for the upcoming Rs 13,500-crore
Real estate private equity fund Indiareit will invest Rs 250 crore (Rs 2.5 billion) in the proposed 138-acre township promoted by the Pune-based Paranjape Schemes Construction Ltd.
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.
Tata Steel said on Tuesday its Board will meet on April 17 to discuss plans for funding the $12 billion acquisition of Anglo-Dutch firm Corus Group Plc.
'When you try to do something that's not been tried before, nobody likes that.'
A V Metals -- the A V Birla group's Canada-based special purpose vehicle -- will infuse $3.5 billion to finance Hindalco Industries' proposed acquisition of the Atlanta-based aluminium downstream major Novelis Inc.
GAIL India will hold 28 per cent stake in the special purpose vehicle, being set up for the revival of $2.9 billion Dabhol power project.
Announcing the Cabinet Committee on Economic Affairs decision, Finance Minister P Chidambaram said a Special Purpose Vehicle would be set up for the project.
The acquisition will help JK Tyre gain access to the world's largest auto market in the United States in addition to some distant markets of central and south America.
The ideal way will be to sterilise the inflow, build reserves and push liquidity into system.
National Thermal Power Corp, Gas Authority of India Ltd and Indian lenders will contribute Rs 500 crore (Rs 5 billion) each as equity
The government on Monday said the financial system has a surplus liquidity of about Rs 1,00,000 crore (Rs 1 trillion) in the system due to huge foreign exchange flows.
India will develop underground natural gas storage facilities as an insurance against disruption and supply shortfall.
One juvenile was allegedly seen in videos misbehaving with the girl, but was not involved in rape.
The bank has agreed to provide up to $1 billion to Tata Steel's special purpose vehicle, Tata Steel UK, to refinance $7.2 billion of bridge loans taken for the biggest buyout by an Indian company.
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