The first leg of Micron's semiconductor play in Sanand is crucial for the company to sprint towards India's goal of joining the chip race.
'Interim Budget has ignited the entrepreneurial spirit.'
The Indian Navy, which was earlier looking towards the US for design expertise, technical know-how and operational practices, is now considering the advantages of working with the Royal Navy.
'We completed Rs 17 trillion worth of projects in the first term and currently Rs 9 trillion worth of contracts are under construction.'
Adani Enterprises, which is launching India Inc's second-largest follow-on public offer worth Rs 20,000 crore next week, on Thursday said it is planning to enter the water segment as this is a key element of its core business of infrastructure. The group is into the entire gamut of infrastructure -- being its ports, airports, roads, expressways power generation & distribution, among others. In ports and airports, the group is the largest player in the private sector. Addressing media from Milan, group chief financial officer Jugeshinder Singh said the company has fixed the price band for the Rs 20,000-crore issue in the range of Rs 3,112-3,276 per share.
GMR evinces interest in the project.
Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced the acquisition of a 95 per cent stake in Gopalpur Ports in Odisha from Shapoorji Pallonji Group and Orissa Stevedores Ltd at an equity value of Rs 1,349 crore. In Gopalpur Ports, Shapoorji Pallonji Group (SP Group) firm SP Port Maintenance Pvt Ltd has a 56 per cent stake and Orissa Stevedores Ltd (OSL) has a 44 per cent stake. Gopalpur Port is an all-weather deep-water berthing port with a capacity of 20 million tonnes per annum (MTPA) situated in Ganjam district of Odisha.
The Asian Development Bank (ADB) has approved $700 million in loans to support the Indian government's efforts to accelerate investment in infrastructure which the country requires to ensure strong economic growth.
Land acquisition costs have gone up to almost 50% of total project cost.
GMR Group is currently investing Rs 20,000 crore to expand the existing airports and developing new aerodromes, GM Rao, chairman of the infra major has said. "Airport Development and Construction: GMR Group has set benchmarks for development of world class Airport infrastructure... Your company is currently investing approximately Rs 20,000 crore to expand the existing airports and develop new Aairports," he said in the group's latest annual report. GMR's airport business comprises four operating airports - Indira Gandhi International Airport, Delhi, Rajiv Gandhi International Airport, Hyderabad, Bidar Airport at Karnataka and Mactan Cebu International Airport in the Philippines.
Embattled Adani Group on Monday said it has put on hold major equipment procurement and site construction activities for the Rs 34,900 crore petrochemical project at Mundra in Gujarat as the project has not yet tied up finances. The group's flagship Adani Enterprises Ltd (AEL) incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd in 2021 for setting up a greenfield coal-to-PVC plant at Adani Ports and Special Economic Zone (APSEZ) land in the Kutch district of Gujarat. Asked by stock exchanges to comment on a PTI report on Sunday that the group has suspended work on the project, AEL said, "The financial closure of the Green PVC project of Mundra Petrochemicals Limited ( MPL) is pending with the financial institutions and it is in their active consideration."
Terming the state "pride" of the country, Modi said it is the gateway of the nation as it guards the frontier. It is the duty of the government to develop the state at any cost, he said.
Pursuit of raw material had landed Bhushan Steel in the coal block allocation scam.
'This will have a multiplier effect in generating more jobs.'
"I am proud to announce the project has Final Investment Decision (FID) approval which marks the official start of one of the largest single Infrastructure -- and job creating -- developments in Australia's recent history," Gautam Adani said.
'To sustain our growth trajectory, we must continue to explore and capitalise on growth opportunities.'
With passenger growth pegged at 14 to 15 per cent, airport infrastructure could be a make or break business for both new players and incumbents.
An airport in Noida could lead to higher user fees and diversion of traffic from Delhi, which has huge unused capacity.
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.
Against an offer of 4.55 crore shares of Adani Enterprises Ltd, only 4.7 lakh were subscribed, according to information available from the BSE. Adani Enterprises fell almost 20 per cent to below the offer price of its secondary sale as all the seven listed companies of the conglomerate took a beating in the aftermath of Hindenberg Reserach alleged that the group was "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".
Of the 100 cities 20 were to get funding in 2015-16.
People elected me to fight corruption, I'm doing what they told me to do, Modi said.
The new real estate hubs could typically take between 5 and 10 years to develop depending on the state of economy of the city and the state.
Enters joint venture with Pune-based Unique Delta Force Security
The airport, coming up in neighbouring Navi Mumbai, is expected to relieve the pressure on the Mumbai international airport. Some local politicians had demanded that the new airport be named for farmer leader late D B Patil. Urban Development Minister Eknath Shinde, who made the announcement, said the chief minister has assured the DB Patil Action Samiti, which is raising this demand, that some other project will be named after the farmer leader.
There is little appetite among combat aircraft engine makers to share the IP that results from a co-creation project. But Rolls-Royce is willing to walk the Aatmanirbhar talk.
The Delhi-Dausa-Lalsot stretch is set to reduce the travel time between the national capital and Jaipur considerably.
The Centre's capital expenditure (capex) outlay for the April-June quarter (first quarter, or Q1) of 2022-23 (FY23) could be close to Rs 1.5 trillion, Business Standard has learnt. As a percentage of full-year capex Budget Estimates (BE) of Rs 7.5 trillion, this could be at similar levels to the trends in the past few fiscal years. It is in the July-September quarter (Q2) of FY23 that capex is expected to pick up, when a bulk of the long-term capex loans to states are expected to be expended.
But he is actively pursuing greenfield steel plants in Karnataka and Jharkhand; ultimately, only one of these might come up.
India attracted an estimated $49 billion FDI in 2019, a 16 per cent increase from the $42 billion recorded in 2018.
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.
'Adani can attract vessels at a much lower cost to Vizhinjam as he has the financial muscle to do so.'
Experts point to the higher contribution of rural from the north for the growth reported by the region, a point endorsed by companies who've been pushing their presence aggressively there.
Paving the way for development of the first-ever 'greenfield airport' in the country, the government signed a concession agreement with Bangalore International Airport Company Ltd for it to come up at Devanahalli in Karnataka over the next 33 months.
Land acquisition for the South Korean steel major Posco's proposed steel plant near Paradip was completed on Thursday with the Odisha government demolishing 25 more betel vines at Gobindpur village, official sources said.
India's largest private port operator Adani Ports and SEZ (APSEZ) Ltd has emerged as the highest bidder for the West Bengal government's greenfield deep-sea port project at Tajpur in a neck-to-neck fight with JSW Group, a source said on Friday. APSEZ and Sajjan Jindal-led JSW Group were the only two entities that took part in the financial bid round, though there were more port and logistics majors who had expressed initial interest in the estimated Rs 7,000-crore project in Purba Medinipur district. "APSEZ is the highest bidder, offering a share of 0.25 per cent of gross revenue. "It was marginally higher than the second bidder who offered 0.23 per cent," a senior government official said, without wanting to be named.
Meanwhile, for the fortnight ended March 20, deposits grew 11.42% y-o-y.
Apart from around 40 Japanese companies and five global vendors of MG Motor India, many other biggies are eyeing Gujarat for either greenfield opportunities or brownfield expansion.
The Cabinet Committee on Economic Affiars had approved the Rs 1,293 crore (Rs 12.93 billion) greenfield project spread across 450 hectares. British consultancy firm Mott Macdonald has been engaged to prepare bid documents for the procurement. As a special railway joint venture project, it envisages manufacturing locos with 12,000 HP to carry 5,000 tonnes of freight at 100 km per hour on all terrains.
