Infrastructure

Ha Long’s authorities will prioritise resources to build campuses and classes in educational institutions as well as renovate Square 30-10 and the fishing port in Cao Xanh Ward, upgrade drainage systems and use energy-saving LED lights in all lighting systems. … [Read more...] about Ha Long City to spend $107m on transport infrastructure

BHUBANESWAR: Odisha is planning four new townships in its most industry intensive regions of Kalinganar, Jharsuguda, Paradip, and the Angul-Dhenkanal region. The idea was discussed in a recent meeting Chief Secretary, Asit Tripathy had with representatives from companies, all of who have large plants in the state; some like Tata Steel which acquired Bhushan Steel in 2018 at more than one location. “There are nearly 20,000 people working in Kalinganagar, at the end of the day they either go to Jajpur Road or commute from Cuttack, Bhubaneswar. Similarly, more than 50,000 people will work eventually in the Angul - Dhenkanak region. Even today you have about 15,000 working there and there are no industrial townships,” Hemant Sharma, Secretary, Industries told ET. The idea, one of their more exciting ones in the runup to Make in Odisha, could be developped through SPV or in partnership mode with IDCO, the parastatal agency for land acquisition, taking the lead. Industry … [Read more...] about Odisha plans four new 500 acre industrial townships

Affected by the novel coronavirus outbreak, the central and local governments have accelerated government spending and promoted financial support to hedge economic headwinds, as the breakdown in traffic, weak consumption and delayed recovery of production to contain the virus may add downside risks in the first quarter this year, analysts said. … [Read more...] about Finance Ministry moves to accelerate fundraising process, stabilize economy

IRB Infrastructure Developers would prepay bank loans after its private infrastructure investment trust (InvIT) received about Rs 3,800 crore from Singaporebased GIC, a sovereign fund, said two people with direct knowledge of the matter. This would help the company reduce interest outgo by Rs 300-350 crore, sources told ET. It will use Rs 3,000 crore out of the total proceeds to prepay loans. The balance Rs 753 crore would be used to fund construction projects. A spokesperson at IRB confirmed the financing deal, replying to ET’s mailed query. Nine Special Purpose Vehicles (SPVs) managing nine road assets under the InvIT had availed bank credit facilities, including from SBI, Andhra Bank, ICICI Bank and a few non-banking finance companies. IRB Infrastructure on Tuesday said its private InVIT received the first tranche of investments from Singapore’s GIC, worth Rs 3,753 crore. “IRB announces receipt of the first tranche of investment of Rs 3,753 crore from GIC … [Read more...] about IRB Infra to prepay loans from Rs 3,800-crore InvIT play by GIC

St Thomas’s said: “Like all schools, we are taking very seriously the potential risks related to the spread of Covid-19 and to this end we are following the Government’s instructions to the letter on infection prevention and case management in which it is suspected that some staff member or students exposed to the virus or showing any symptoms. … [Read more...] about China faces new problem over keeping virus out as cases are confirmed on every continent except Antarctica