Govt. vows to bring 97% FDI though automatic route: DIPP
The Dollar Business Bureau Government has taken a slew of initiatives to ease investment regulations in the highway sector and the results of these steps would be visible in the near future, says DIPP Secretary Amitab Kant The government aims to develop a level of self-governance to bring 97% of foreign direct investment (FDI) through an “automatic” route without requiring any bureaucratic approval, a senior government official said. “Following recent announcement of opening up 15 sectors for which Press Note has been issued today, India has thrown open 92% of the FDI route through automatic channel,” said Amitabh Kant, Secretary, Department of Industrial Policy and Promotion (DIPP). Inaugurating the 95th Annual Session of the Associated Chambers of Commerce and Industry ...
Indian infra major to build 400 MW power plant in Bangladesh
The Dollar Business Bureau Larsen & Toubro (L&T) on Wednesday announced that it has received a Rs.1,700-crore order from Japan’s Marubeni Corporation for setting up the Bibiyana III 400 MW combined cycle power plant project of Bangladesh Power Development Board (BPDB). “BPDB awarded the EPC contract for setting up the 400 MW gas based power plant project to Marubeni Corporation of Japan, which in turn awarded the EPC sub-contract to L&T on turnkey basis,” said L&T in a statement. The plant will be developed at Nabiganj in Habiganj district of Sylhet division, in the northeastern part of Bangladesh, at around 130 kms from Agartala, India. The project will be executed by L&T’s Baroda-based gas based power projects business unit. L&T’s scope of ...
GMR led consortium gets the nod for Eastern Dedicated Freight Corridor railway project
The Dollar Business Bureau A consortium led by GMR Infrastructure Limited has been issued Letters of Award for construction of 417 Km long Eastern Dedicated Freight Corridor railway project at a cost of Rs 5,080 crore on EPC (engineering procurement contract) basis. The project is divided into 2 packages - Package 201 from Mughalsarai to Karchana (near Allahabad) for 180 km and package 202 from Karchana to Bhaupur (near Kanpur) for 237 Km in the State of Uttar Pradesh. The project which is funded by World Bank involves Design and Construction of Civil, Structures and Track Works for Double Line Railway on Design Build Lump Sum Basis and shall be completed in 45 months. Earlier in November 2014, GMR ...
