If at all there was a blunt message for anyone in the Union Budget, it was for state-run banks – no more doles. After setting financial parameters to achieve with his Indradhanush in August 2015 on infusion of fresh capital, finance minister Arun Jaitley has sanctioned just Rs 10,000 crore for banks shows his resolve to see results from banks before opening his purse strings. For a segment that needs at least Rs 75,000 crore in the next two years as estimated by ratings company India Ratings, the sanctioned amount is just a drop in the ocean which may not be sufficient to fund the economic growth aspirations. And it is not going to be easy for these banks to raise funds from the market unlike their private peers.
The construction work on the critically and strategically important 9.2 km Chenani –Nashri tunnel is likely to complete by the end of this month. The authorities executing its construction said though its completion hinges on weather and availability of the un-interrupted power supply. “We are in the final stages of testing process- comprising of mechanical, electrical and plumbing (MEP) tests. They were earlier scheduled to be completed by end of January; however, due to bad weather they have been delayed. We are hopeful of its completion by this month, but it depends of clear weather and power supply, which was badly affected due to heavy snowfall in the area,” said an officer working on the site, wishing not to be quoted.
It’s a bold and game changing Budget, the government has focused on higher spending in rural economy, agriculture, housing and infrastructure, and yet maintained the best standards of fiscal prudence. The finance minister has kept in mind the need to continue with strong economic reforms, promote higher investments and accelerate growth, particularly in sectors such as railways, roadways, and solar energy. It’s a very good budget, I would like rate to 8 out of 10.
An interview of Mr. Ketul Acharya, Sr. VP and Group Head, IL&FS Skills Development Corporation Limited.
Orient Green Power's board has approved a plan to enter into exclusive discussions with IL&FS to explore a merger of their wind energy assets, it said in a regulatory filing. ET was the first to report about the potential merger, on January 19. Orient Green said the merged entity will have 1.2 GW of operating wind capacity. "Both companies have entered into a non–binding agreement with an exclusivity period of 90 days. At this stage, the companies would like to clarify that any potential outcome is subject to due diligence, definitive documentation and approvals by regulators, creditors, shareholders and other stake holders," the filing said.
The South Delhi Municipal Corporation (SDMC) has initiated a scientific mechanism of collection, transportation and management of garbage and waste with the help of IL&FS (Infrastructure leasing and financial services) by deploying a number of fixed compact compressors and different kind of tippers, green waste management by using wood chippers, construction of more and more public toilets, discouraging open defecation and training citizens and Resident Welfare Association (RWAs) on the procedure of segregation of the waste. The SDMC is also going to set up the first bio-gas plant at Goyla Dairy in the Najafgarh Zone, spread over an area of two acres. T he project, developed by the South Delhi Municipal Corporation (SDMC), will be constructed on the Public Private Partnership model, an official said.
An overview of development of port based integrated development and IMICL’s project is an Integrated Maritime Complex in Nana Layja, Gujarat. This article was published in Gujarat Infrastructure Annual Issue in January 2017.
IL&FS Transportation Networks (ITNL) is aiming to reduce interest costs, lower debt equity ratio and make its projects debt-sustainable in the next 18 months. The company’s larger strategy to arrest its debt woes includes debt refinancing, infrastructure investment trusts (InvITs) and bonds issuance. For ITNL, the current financial year has been a mix of winning new orders and commissioning projects under execution. Although positive in the long run, analysts see this as a tough mix for the company where both capital requirements and debt repayments are bound to rise.
Unnati is an English imparting programme for students of class IX and X in 1115 government schools of the Uttarakhand. IL&FS Education is likely to depute as many as 1115 experts to train the government school kids for almost two months' time.
Interview with Mr Sunil Wadhwa, MD of IL&FS Energy Development Company Limited (IEDCL). At IEDCL, Wadhwa spearheads the IL&FS group’s initiatives in the power sector. IEDCL has been closely associated with several projects for private sector players, state governments and public sector enterprises besides its own projects. Initially, the energy sector projects were developed and housed in a “special infrastructure projects” group of IL&FS. In 2007, IEDCL was incorporated as a separate business entity to play a more focused and active role in energy sector development.