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CSL proposes to issue IPO to finance infrastructure project
The Cochin Shipyard Limited (CSL) has embarked upon two major infrastructure expansion projects - International Ship Repair Facility at a cost of INR 970 crore and construction of new Dry Dock with a cost of INR 1799 crore. In order to finance these projects it has proposed to issue Initial Public Offer (IPO). The entire proceeds of the funds raised through IPOs will be used for partial funding of the projects. ...
DHL Express expands presence in key industrial hub of Bhiwadi
DHL Express has inaugurated a new service centre in Bhiwadi. Located in Alwar district of Rajasthan, the 3,188 square feet facility will be the seventh in the Delhi-NCR region. The city of Bhiwadi is an industrial town spanning nearly 5,300 acres that caters to over 2,500 big and small enterprises. The city’s location on the national highway offers excellent connectivity to Delhi-NCR, and the strong poten ...
Minister hints at 500 km new road projects in TN this year
There is potential to award over 500 kilometer (km) of new road projects at an estimated cost of INR 10,000 crore in Tamil Nadu in the current year, according to Minister of State for Road Transport, Highways and Shipping, Pon Radhakrishnan. The estimate by the Minister followed a review meeting of National Highway projects in the State, and the status of various issues relating to award of contract such as clearan ...
Kandla Port awards channel maintenance dredging contract
Kandla Port Trust (KPT) has awarded Van Oord the contract to keep the approach channel to the Port up to depth for the next three years. The approach channel is a crucial gateway to Kandla Port, the country’s leading Major Port. The dredging activities will commence this month, said a release. Ton van der Burg, South West Asia Area Manager said that "We are very happy to win this project after ha ...
Govt. approved allocating 2.5% of Road fund for NW
The Government recently approved allocation of 2.5% of the Central Road Fund for National Waterways (NWs) that would result in about INR 2,000 crore proceeds per annum for their development. Parliament last year had enacted National Waterways Act, 2016, for developing and maintaining the existing five NWs and 106 new NWs across the Country. An official said in statement, “The Union Cabinet has accorded it ...
IRB Infra reaches financial closure for INR 2,088 cr road project
The company said in the statement, Udaipur Tollway Private Limited, a Special Purpose Vehicle (SPV) of IRB Infrastructure Developers has achieved financial closure for its Udaipur – Gujarat Border 6 Laning BOT project that is had bagged last year by offering the premium of INR 163.80 crores to NHAI. After achieving the financial closure, the SPV can commence construction soon. The total project cost is IN ...
Paradip Port registers 18% cargo growth in first quarter of FY18
Paradip port has outpaced all major ports in terms of cargo growth, achieving 18% volume growth in cargo handling in the April-June quarter. The Paradip Port Trust (PPT) handled 24.44 million tonnes (mt) of cargo during the said period, as compared to 20.59 mt in the corresponding period last year. The number of vessels handled by the port has accordingly recorded a growth of 12.34% as the port handled 437 ship ...
India to invest USD 1.6b in the development of a 2nd airport in New Delhi
India’s national government has approved a plan to construct a second international airport in New Delhi that will cost an estimated USD 1.6 billion to develop the first phase, which will have a single runway when it begins operations within five years, according to India's Ministry of Civil Aviation. Noida International Airport will be built on a 3,000-hectare green field site at Jewar in Greater Noida, ...
IRB Infra reaches financial closure for INR 2,088 cr road project
IRB Infrastructure Developers today said its SPV Udaipur Tollways has achieved financial closure for INR 2,088 crore highway project on Rajasthan- Gujarat border. Udaipur Tollway Private Limited, a special purpose vehicle (SPV), has successfully achieved financial closure for its Udaipur- Gujarat border six-laning BOT (build, operate, transfer) project, IRB Infrastructure said in a BSE filing. The company said ...
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