The Maharashtra forest department allotted 53 hectares of land for the Surya regional bulk water supply scheme (WSS) on October 30, 2019. The Mumbai Metropolitan Region Development Authority is implementing the regional WSS for meeting […]
The construction work on the Janibili water supply project (Improvement of Water Supply to Greater Berhampur) is expected to be completed by January 2020. The project has been awarded to L&T and involves laying of […]
The feasibility report for the Coimbatore metro rail project has been submitted to Chennai Metro Rail Limited for approval. It has been prepared by a consortium of Systra MVA Consulting (India) Private Limited and RITES […]
The Tamil Nadu government has sanctioned funds worth Rs 11.47 billion to upgrade rural roads in the state. The upgrade comes under the category of “other district roads” which include six-lane/intermediate lane stretches that connect […]
The Asian Development Bank (ADB) has approved a loan worth Rs 34.66 billion for a road development project in Madhya Pradesh. The project includes upgradation of state highways spanning 750 km and major district roads […]
ADB has agreed to provide a $451 million loan to strengthen power connectivity between the southern and northern parts of the Chennai-Kanyakumari Industrial Corridor (CKIC). The project will allow more power, including renewable energy, to […]
The JSW Group has repaid Rs 12 billion worth of loans raised by pledging shares of JSW Steel and JSW Energy. Following the repayment, the pledged shares of both the companies have been released by […]
State-run Bharat Sanchar Nigam Limited (BSNL) is planning to issue sovereign bonds for raising Rs 150 billion in December 2019. The operator has already written to the Department of Telecommunications (DoT) seeking its approval to […]
Air India Assets Holding Limited (AIAHL), the special purpose vehicle (SPV) formed for offloading Air India’s existing debt, has issued bonds for the third time raising funds worth Rs 79.85 billion. This bond issue has […]
HPCL-Mittal Energy (HMEL), a joint venture (JV) between Hindustan Petroleum Corporation Limited and Mittal Energy Investment, Singapore, has raised $300 million by selling bonds to offshore investors. The company plans to use the proceeds to […]
Edelweiss Alternative Asset Advisors Limited has commenced Phase II of fundraising for its infrastructure investment trust (InvIT) Edelweiss Infrastructure Yield Plus Fund (EIYP), and is likely to close the fund at $750 million by early […]
Reportedly, Caisse de dépôt et placement du Québec (CDPQ) is planning to set up an InvIT to house road assets acquired by the Canadian pension fund manager. It is exploring the setting up of an […]
As per industry sources, the government is planning to divest up to 25 per cent stake in RailTel Corporation through an initial public offering (IPO). To this end, the government is reportedly looking for advertising […]
French energy giant Total SA has agreed to buy a 37.4 per cent stake in Adani Gas Limited for as much as Rs 61.55 billion ($868.5 million). Total has made an open offer to public […]
Cochin Shipyard Limited (CSL) has acquired a 26 per cent stake in Hooghly Cochin Shipyard Limited (HCSL) from Hooghly Dock and Port Engineers Limited (HDPEL) for a consideration of Rs 50.6 million. Prior to the […]
Singapore sovereign wealth fund GIC has exited shipping company Mercator Limited with a huge haircut. GIC sold its entire 7.77 per cent stake in Mumbai-based Mercator Limited recently, taking a meagre Rs 30 million. The […]
Logistics and distribution firm ElasticRun has raised $40 million (approximately Rs 2.84 billion) in a funding round led by Prosus Ventures, formerly known as Naspers Ventures. Existing investors Avataar Ventures and Kalaari Capital also participated […]
The board of Bharti Infratel has extended the deadline to complete its merger with Indus Towers by 60 days to December 24, 2019. The dilution of shares by existing holders, however, will be lower than […]
UAE-based Masdar Clean Energy has invested around $150 million in Hero Future Energies (HFE). This is the second such strategic investment in HFE since 2017, when an investment of $125 million was made by the […]
In a corporate announcement, Sadbhav Infrastructure Projects Limited announced its merger with Sadbhav Engineering Limited on October 19, 2019. Besides, Sadbhav Infrastructure Projects Limited has received the requisite approvals for transfer of 100 per cent […]
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