The Maharashtra State Road Development Corporation (MSRDC) has unveiled plans to raise funds worth Rs 267 billion for the Mumbai-Nagpur Communication Expressway project. While the Asian Development Bank (ADB) is expected to provide Rs 137.5 […]
GMR Infrastructure Limited has sought debt restructuring for its 1,370 MW thermal power plant (TPP) at Raikheda in Chhattisgarh from a consortium of 17 lenders. These include Axis Bank, the Power Finance Corporation, Bank of […]
Jet Airways is planning to raise $100 million (approximately Rs 6.8 billion) in dollar-denominated debt by March 2017 to refinance its rupee-based loans. With this move, the airline aims to halve its borrowing rate to […]
The Mumbai Metropolitan Region Development Authority (MMRDA) has proposed splitting the loan for the Mumbai Trans Harbour Link (MTHL) project into two parts. The Japan International Cooperation Agency (JICA)has given in-principle approval for funding Rs […]
The Ministry of Urban Development has released an additional Rs 2.5 billion for the Lucknow metro project. Earlier in 2016, the ministry had released Rs 3 billion towards the project, taking the total assistance so […]
The Ministry of Road Transport and Highways has sanctioned Rs 80 billion for the development of national highways in Telangana. Some of these roads are Surya Pet-Khammam, Manheryal-Chandrapur, Sangareddy-Nanded, Jagityal-Karimnagar-Warangal and Kodad-Khammam.The state government has […]
The centre has sanctioned Rs 32.24 billion for several urban infrastructure projects, including water supply and sewage management, in Rajasthan. The funds have been sanctioned under the Atal Mission for Rejuvenation and Urban Transformation scheme. […]
The National Capital Region Planning Board (NCRPB) has disbursed the first installment of Rs 4.06 billion for the under-construction Noida-Greater Noida metro project. A loan of Rs 5.8 billion will be given by NCRPB in […]
Ashoka Buildcon Limited (ABL) has achieved financial closure for two road projects in Karnataka, as stated in a letter received from Karnataka Road Development Corporation Limited (KRDCL). The first project entails the augmentation of the […]
Welspun Enterprises Limited has achieved financial closure for Package I of the Delhi-Meerut expressway project. This is the first hybrid annuity-based project to have closed financially. Package I entails a total cost of Rs 8.41 […]
The National Investment and Infrastructure Fund (NIIF) has become operational and will commence funding activities soon. The dedicated fund is indicative of the government’s attempt to make more funds available for the infrastructure sector. Funding […]
Tata Power Renewable Energy Limited (TPREL), a wholly owned subsidiary of Tata Power Company Limited, has completed the acquisition of Welspun Renewables Energy Private Limited (WREPL) at an enterprise value of Rs 92.49 billion. With […]
Reliance Communications (RCOM) has signed a definitive agreement to merge its wireless operations with Aircel’s wireless business. RCOM and Maxis Communications Berhad (the Malaysia-based parent company of Aircel) will each hold a 50 per cent […]
Adani Ports and Special Economic Zone Limited (APSEZL), through its subsidiary Abbot Point Operations (APO), has entered into an agreement to acquire the ownership of Australian company Abbot Point Bulkcoal Pty Limited (APB). APB operates […]
RInfra has signed a binding agreement with Adani Transmission Limited (ATL) for the sale of its power transmission assets to the latter. The company will utilise the proceeds for reducing its debt burden. SBI Capital […]
ONGC Videsh Limited (OVL) and its wholly owned subsidiary ONGC Videsh Vankorneft Private Limited, jointly signed definitive agreements with Rosneft for acquiring an additional 11 per cent share in JSC Vankorneft, the owner of the […]
Vodafone India received an equity infusion of Rs 477 billion from the Vodafone Group in the first half of 2016-17. The equity infusion, via the foreign direct investment (FDI) route, is the largest ever FDI […]
The board of the Oil and Natural Gas Corporation (ONGC) has approved the signing of an MoU for buying a stake in Gujarat State Petroleum Corporation Limited’s (GSPC) Krishna-Godavari (KG)-OSN-2001/3 block. ONGC has hired US-based […]
The CCEA has approved stake purchases in two Russian oilfields by a consortium comprising Indian Oil Corporation Limited (IOCL), Oil India Limited and BPCL for a total of $3.14 billion. The consortium will acquire a […]
ICICI Bank has acquired an 11.08 per cent equity stake in ABG Shipyard Limited by exercising its option of converting compulsorily convertible preference shares into equity. The lenders now have a 49 per cent stake […]
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