42 of 48 HAM projects worth Rs 43,500 cr achieve financial closure

Source: Financial Express, Nov 16, 2017

Mumbai: Of the 48 road projects awarded under the hybrid annuity model (HAM) by the National Highways Authority of India (NHAI) and the road transport ministry till March this year, 42 projects with an aggregate bid project cost (BPC) of Rs 43,500 crore have achieved financial closure. Projects seeing a delay in financial closure mainly belong to weak sponsors such as MBL Infrastructures and Overseas Infrastructure Alliance, who either returned their projects or saw their projects cancelled earlier this year. Road developers told FE that more number of financial closures is a positive sign as it would improve the confidence among companies to bid for more projects.

Read the rest of this entry »


Decks cleared for first mega CEZ; 45 companies may invest Rs 15k-crore in phase-I

Source: The Economic Times, Nov 16, 2017

NEW DELHI: The government has given the go-ahead for setting up India’s first mega coastal economic zone (CEZ) at the Jawaharlal Nehru Port in Maharashtra as part of a plan to develop 14 such industrial clusters to spur manufacturing and generate jobs.

About 45 companies across telecom, auto and IT sectors will soon bid for 200 hectares of land to set up manufacturing units in the zone, senior officials told ET.

The plan envisages a total investment of Rs 15,000 crore in the first phase and creation of more than 1.5 lakh jobs, they said. “The idea is to attract large firms interested in serving the export markets as they would bring with them technology, capital, good management and links to the world markets,” said one of the officials, who did not wish to be identified.

Read the rest of this entry »

Railways to issue large tenders of up to 1,500km for electrification

indexSource: LiveMint.com, Nov 14, 2017

New Delhi: In a major shift from the past, Indian Railways plans to bid out large tenders as high as 1,500km under the engineering, procurement and construction (EPC) model for railway electrification, to achieve its target of full electrification by 2021.

The move will bring electrification costs substantially down for the national carrier, which at present pays around Rs1-2 crore per km for electrification.

Read the rest of this entry »

JNPT to invest ₹800 cr to develop 2 dry ports

Source: The Hindu Business Line, Nov 12, 2017

Kolkata: Jawaharlal Nehru Port Trust (JNPT) is likely to make ready the Jalna and Wardha dry ports over the next 18 months.

The Jalna port will come up close to Aurangabad, with an annual capacity of 20,000 TEUs.Wardhwa will come up near Nagpur, with another 20,000 TEU annual capacity. Around ₹400 crore will be spent on each of the two ports.

According to C UnniKrishnan Nair, Chief Manager (Traffic), JNPT, work has begun on developing the two dry ports on a public-private partnership basis.

Read the rest of this entry »

Modi said to approve $14 billion injection to rural road plan

indexSource: The Economic Times, Nov 10, 2017

Prime Minister Narendra Modi is planning to spend an additional $14 billion to provide road connectivity in India’s remote villages by March 2020, officials with knowledge of the plan said.

About Rs 1.4 lakh crore has already been spent under the program. The cost will be shared in the ratio of 60:40 by the federal and state governments, the officials said, asking not to be identified citing rules.

Read the rest of this entry »

Simplex Infra to construct ₹610-crore ship-repair facility for Cochin Shipyard

Source: The Hindu Business Line, Nov 09, 2017

Mumbai: Cochin Shipyard Ltd has picked Simplex Infrastructures Ltd to construct a new ship repair facility at nearby Cochin Port Trust as the State-owned firm looks to expand its high-margin ship repair business.

Cochin Shipyard signed off on the ₹610-crore work to Simplex Infrastructures on October 30, a Shipping Ministry official said. Shipping Minister Nitin Gadkari will lay the foundation stone for the project on November 17, he added.

Read the rest of this entry »

World Bank arm to pump $23 mn into Ashiana affordable housing projects

Source: Business Standard, Nov 07, 2017

The World Bank’s investment arm IFC will pump in $23 million in projects by Ashiana Housing Limited (Ashiana) meant for affordable / mid-income housing as well as retirement homes for the elderly.

The total project cost of the project is estimated at about $267 million.

IFC is one of the few financiers of affordable/mid-income projects in India.

IFC said that its long-term capital is not readily available to the real estate sector. IFC’s equity investment is a structured 8-year equity investment, which would provide capital with a tenor that matches the project’s life.

Read the rest of this entry »