Sector News
Road sector performance remains dismal
Due to poor response from private developers and slow speed of land acquisition, India built around 10 km of highways per day which is about half of the target set by road transport and highways minister Kamal Nath in July. However, a total of 308 km of highways were developed under a variety of phases [...]
L&T wins orders for projects in the Gulf
L&T has bagged four EPC orders from Qatar, UAE and Oman totaling to an amount of $217.45 million for constructing electrical substations for customers such as Qatar Petroleum, Kahramaa, Dewa and OETC where these projects will be implemented by Electrical & Gulf Projects Operating Company (E&GP OC), part of L&T”s Construction Division.
World Bank boost for PSU banks
The Finance Ministry is in the finishing stage of getting the World Bank”s approval on its ambitious $3 billion recapitalization plan for public sector banks who are in for a huge fiscal dose by injecting over Rs 15000 crore into them. However, Out of a total Rs 15000 crore, the first tranche of Rs 10000 [...]
Realtors to have a regulator soon
The real estate sector is all set to get a regulator soon as after four years of discussions and strong lobbying by realty players on the final provisions of the Bill, it is learnt that the Bill is finally ready to be placed in the Cabinet. However, a number of strict provisions that were firstly [...]
Volkswagen targets sale of 1 lakh units by 2014 in India
With plans to launch a hatchback as well as notchback (three box) version of ”Polo” in India next year, Volkswagen, the German car giant, said on Wednesday that it aims to sell one lakh units in the Indian market by 2014. The company said the launch of Polo will help it to move beyond the [...]
Govt not to put a cap on merchant power: Power Ministry
Bringing cheer to the industry, Power minister Sushil Kumar Shinde stated that the country was not mulling to put a cap on the sale price of merchant power and rather it was interested in adding more incentives to the sector. However, Merchant power refers to surplus power available with producers, not allocated to any long-term [...]