Next edition of consolidated FDI policy released by DIPP
The Dollar Business Bureau The next edition of consolidated FDI policy details were released by the Ministry of Commerce on Aug 28, incorporating the changes made last year. The Department of Industrial Policy and Promotion (DIPP) in its press release said that the ‘new circular will take effect’ from today ie, Aug 28, 2017. The consolidated FDI policy is a compilation of the various decisions taken by the government in the past year and the DIPP which deals with FDI related matters, compiles all policies related to foreign investment regime into a single document to make it simple and easy for investors to understand. This enables an investor friendly climate for foreign investors who would otherwise have to go through various press notes and ...
Multi-modal transport planning will be implemented in a big way: Gadkari
The Dollar Business Bureau After awarding a record Rs.4.5 lakh crore worth of contracts in highways segment, a multi-modal transport planning consisting of railways, waterways, airports and bus stations will be implemented in a big manner, said Road Transport, Highways and Shipping Minister Nitin Gadkari on Friday. “We broke all records in highways. We have awarded contracts worth Rs.4.5 lakh crore so far. We will be awarding contracts for 15,000 km of highways by March taking the highways building pace to 30 km from 20 km a day in December,” Gadkari said while addressing the reporters in New Delhi. The Minister said that 15% increase in allocation for highways in the Budget was a welcome measure and this is the first time that ...
Essel Highways gets loan of $85 mn from Goldman Sachs
The Dollar Business Bureau Essel Highways Ltd (EIL) on Friday said that it has secured a loan of $85 million from the investment banker Goldman Sachs for funding the new projects and planned acquisitions. “Essel Highways, a subsidiary of Essel Infraprojects Ltd, has secured the $85 million loan from the investment banker, which will be used to finance new projects and strategic acquisitions,” EIL said in a statement. The fresh funds will enhance the Essel’s ability to grow its portfolio of road projects and allow for additional planned acquisitions, said Ashok Agarwal, CEO and Whole Time Director, EIL. “The debentures subscription from a globally renowned institution such as Goldman Sachs will further enhance our position in the market and support us in our endeavour ...
Biofuels can be socio-economic change agents: Minister
The Dollar Business Bureau The Union Minister of Road, Transport, Highways and Shipping, Nitin Gadkari, pitched for more usage of biofuels in public transport, while stating that the usage would fuel Indian economy. In a statement on Wednesday, the Union Minister said, “Bio-fuels can be socio-economic change agents, as they would address crucial issues of the country like farmer suicides, agri surpluses in the sugar, wheat and rice sectors, and thereby fuelling economy.” The Union Minister was speaking at the session-‘Biofuels in Road Transport’, at the Bio-Fuels Roundtable-2015, organised by the Confederation of Industry in New Delhi on Wednesday. Speaking at the session, the Union Minister further said that the usage of bio-fuels will form an alternative way to ...
Developing roads in North-East and Border Areas critical for trade: Nitin Gadkari
The Dollar Business Bureau “Developing roads in North-East and border areas is government’s priority,” said The Union Minister for Road Transport, Highways and Shipping, Nitin Gadkari. Launching the logo and website of National Highways and Infrastructure Development Corporation Ltd (NHIDCL), the Minister said that NHIDCL will be an instrument for creation and management of infrastructure of the highest standard in the country with focus on the North-East and border areas and contribute significantly towards nation building. He further added that every road should be economically viable and, therefore, his ministry has been trying to address the problems in land acquisition, environment clearance and rail bridge construction. “The regional connectivity so enhanced would promote cross border trade and commerce and help safeguard ...
