Road projects race ahead as govt steps on gas: CRISIL Research
A study by CRISIL Research, India’s largest independent research house, on the status of road projects awarded in the last fiscal shows an unprecedented pick-up in execution amid a proactive government and faster approvals by implementing agencies. This is expected to improve the returns for the developers of build-operate-transfer (BOT) projects and companies engaged in the construction (engineering, procurement & construction -- or EPC -- contractors) of roads.
Of the 16 projects awarded in 2013-14, work has already begun on 12 – or 75% of them. That’s a big difference considering that for projects awarded in 2011-12 and 2012-13, work had begun only on 10% and 18% of them, respectively, at a similar juncture. And in some of the projects awarded last fiscal, progress has been as much as 40-50 per cent already. Such momentum is unparalleled and stands in sharp relief to the imbroglio seen in the last couple of years.
L&T Construction bags orders worth Rs. 2,008 cr
The construction arm of L&T has won orders worth Rs. 2008 crores including two new international orders in the months of November and December 2014.
Power Transmission & Distribution Business:
An international EPC order has been won from an Algerian transmission utility company - SONELGAZ – GRTE (National Society for Electricity and Gas). The order isfor engineering, procurement, construction, testing and commissioning of 220/60 kVEHV substation at Bougzoul. The scope includes the construction of an air insulated substation comprising 220/60 kV bays, protection and substation automation systems, a DC system and auxiliaries. The contract encompasses design and for engineering, procurement, construction, testing and commissioning of 220/60 kV EHV substation at Bougzoul.
The scope includes the construction of an air insulated substation comprising 220/60 kV bays, protection and substation automation systems, a DC system and auxiliaries. The contract encompasses design and On the domestic front, the business bagged an order in Jammu & Kashmir from the Power Grid Corporation of India Limited for the supply and erection of transmission lines as part of tower packages 02 & 03. The order involves setting up 220 kV single circuit and 66 kV double circuit transmission lines with associated transmission & interconnection systems.
SPML Infra bags new orders worth Rs. 267 Crore
The Board of directors of SPML Infra Limited in its meeting on 5th December, 2014 evaluated various options of fund raising and decided to call for Extra Ordinary General Meeting (EGM) on 6th January 2015 seeking Shareholders approval to authorize the Board of Directors to raise funds through qualified institutional placement (QIP) route for an amount not exceeding Rs. 75 Crore at an appropriate price and time as approved by the Board (or its empowered committee).
SPML Infra has also won new orders worth Rs. 267 Crores from Karnataka Urban Infrastructure Development and Finance Corporation (KUIDFC) for 24X7 Water Supply System for three cities, Sindhanur, Gadag-Betageri and Haveri with a combined population of 3.7 Lac. These projects are part of Asian Development Bank (ADB) funded projects to improve urban services in 14 towns in north Karnataka. The project would help improve the quality of life in underdeveloped areas of the State with uninterrupted clean drinking water supply. SPML has received these performance-based management contracts to design and construct the infrastructure of the distribution networks, provide metered connections and operate and maintain the facilities for 5 years. The three orders received are Gadag-Betageri - 107.86 Cr; Sindhanur - 99.01 Cr; Haveri - 59.92 Cr.
MBL Infrastructures to close QIP issue
MBL Infrastructures Ltd has announced that in respect of the QIP, the QIP Committee (the "Committee") of the Company at its meeting held on December 08, 2014, has approved the closure of the QIP on December 08, 2014.
The board has approved the issue price of Rs. 365.18 per Equity Share (share), which is at a discount of Rs. 19.22 per Equity Share, to the Floor Price of Rs. 384.40 per Equity Share, for the Equity Shares to be allotted to eligible qualified institutional buyers in the QIP. The board has approved and adopted the Placement Document (PD) dated December 08, 2014, in connection with the QIP.
Welspun India plans to invest Rs25 billion: Report
According to the report, Welspun India planning to invest Rs 2,500 crore to expand manufacturing capacities over the next 12 months. The company will invest into modernisation and expansion of its towel manufacturing capacity in Gujarat, report said. There are reports that the expansion will be funded through internal accruals and debt. While Rs 700 crore would be contributed from the company's side, the remaining will be raised through borrowings.
“BEST” solution for Passenger Integration on Metro Line III
Commuters traveling on the Metro line III are going to get rich dividends of the “passenger integration system” which will be developed on the underground metro service. Mumbai Metro Rail Corporation Ltd (MMRCL) will work together with the Brihanmumbai Electric Supply and Transport Undertaking (BEST) to develop major Bus Stations into such integrated transport points.
MMRCL in its recently held board meeting has given a nod to integrate three such existing Bus stations with the upcoming underground metro line III which will run from Colaba up to SEEPZ via the Domestic and International Airports.
“The entire length of 33.5 km metro line III alignment passes through major BEST stations/depots and various open plots. In order to have better integration facility of the BEST with metro stations wherever possible, it has been decided to involve the BEST and explore the possibility of joint development and commercial exploitation,” said MMRCL Managing Director Mr. Sanjay Sethi.