Fujairah Observer covered IPTF’s "greening initiative" in its tank terminal which is first of its kind initiative in the world’s second bunkering hub.
AcadGild has successfully trained students worldwide through its professional certification training courses. Their partnership with IL&FS Skills enables them to expand beyond its current vocational and skill-based training programs, to technologically advanced, professional courses like Android Developer, Big Data & Digital Marketing. This move helps them expand the reach of their courses through more than 100 IL&FS Skills centres across the country.
IL&FS Transportation Networks (ITNL) plans to put three or four road assets valued at between R4,500 crore and R5,000 crore in an infrastructure investment trust (InvIT). The initial offer to the public could be for a quantum of R2,000 crore-2,500 crore, senior executives of the company have indicated. Dilip Bhatia, chief financial officer, IL&FS Transportation Networks, told analysts on Tuesday that the company had applied for an InvIT and was awaiting an approval from the Securities and Exchange Board of India (Sebi). “While the exact details are being worked out, the initial offer to the public would be in the range of R2,000 crore-2,500 crore,” he said. The road assets placed in the InvIT would comprise a mix of toll projects and annuity projects, Bhatia said. Bhatia said that apart from the outright sale of assets, the InvIT will also help the firm reduce debt at the consolidated level. The company’s consolidated debt at the end of June 30, 2016 stood at over R26,600 crore. Recently, IRB Infrastructure Developers filed a draft red herring prospectus (DRHP) with the capital markets regulator to raise R4,300 crore, making it the first company to do so. Among other infrastructure players, Sterlite Power has also articulated plans for an InvIT. On a standalone level, ITNL expects to reduce its debt by R1,000 crore through sale of assets. The standalone debt stood at around R9,200 crore as on June 30, 2016. In August, the company signed a share purchase agreement with Cube Highways & Infrastructure Pte Ltd, backed by I Squared Capital for the sale of its entire equity stake in the 328-km Andhra Pradesh Expressway (APEL) for an aggregate value of R140.37 crore. As part of the deal, debt of R497 crore will also be taken over by Cube Highways.
Road developer IL&FS Transportation Networks Ltd (ITNL) will monetize three or four of its mature assets by creating an infrastructure investment trust (InvIT), a top company official said. The company, one of India’s largest build, operate, and transfer (BOT) road operators, is finalizing plans to launch a trust over the next six to nine months, chief financial officer Dilip Bhatia said in a phone interview. InvITs are trusts which manage income-generating infrastructure assets, typically offering investors regular yield and a liquid method of investing in infrastructure projects. In May, market regulator Securities and Exchange Board of India (Sebi) released norms for the public issue of units of InvITs—the final set of major rules that were awaited before companies could start marketing their issues. “We find it will be a good vehicle to monetize some of our mature assets. While plans are being firmed up, we will look at three to four projects, which will probably go into InvIT and that will help us reduce debt substantially at the consolidated level,” he said. ITNL, with 31 road projects in its portfolio, had consolidated debt of Rs.27,643 crore as on 31 March.
Road developer IL&FS Transportation Networks Ltd (ITNL) on Thursday said it has agreed to sell a road project in Andhra Pradesh to Cube Highways and Infrastructure Pte. Ltd, a joint venture between I Squared Capital and International Finance Corporation, for Rs.140.37 crore. Cube Highways will also assume debt of about Rs.500 crore associated with the project. As a result, ITNL’s consolidated debt will be reduced by about Rs.640 crore, chief financial officer Dilip Bhatia said in a phone interview. The annuity-based project—Andhra Pradesh Expressway Ltd (APEL)—operates a 75km four-lane road stretch on NH-7 across Andhra Pradesh and Telangana. APEL has a seven-year operating history. ITNL, which has 31 road projects in its portfolio, had consolidated debt of Rs.27,643 crore as on 31 March.
Tech education startup AcadGild and IL&FS Skills Development Corporation have partnered to offer technology and business oriented courses to students aimed at improving their employability potential. The pact eyes skilling over two lakh Indian students by 2019, the companies said in a joint statement.
The Telangana Government is planning to set up an International Leather Complex at Station Ghanpur in Warangal district. The Rs 270-crore park will come up in an extent of 117 acres. IL&FS Cluster Development Initiative Ltd has prepared the project proposal.
Infrastructure Leasing & Financial Services (IL&FS) is making final preparations to list India's first infrastructure investment trust (InvIT) to raise Rs 5,000 crore, or $750 million, by early October, a top company executive said. The Mumbai-headquartered IL&FS plans to put four of its 30 big projects into the InvIT initially. It would be a test case for the recently allowed trusts owning income-generating assets to raise capital for the infrastructure build-up in Asia's third largest economy. "The market regulator and the finance ministry have been supportive as we are working towards becoming the first InvIT to list on the bourses. We are almost there, and hope to get clearance very soon. Our plan is to go for the listing by September-end or early October," Ramesh C Bawa, MD & CEO, IL&FS Financial Services, said in an interview.
As a part of this programme, YES BANK has initiated strategic tie-ups with reputed training institutes like TimesPro, HCL TalentCare, Teamlease Skills University, IL & FS Skills Development Corporation amongst others.
Mr Jim Yong Kim, President, World Bank visited IL&FS Institute of Skills, Delhi and took a first hand experience of the technology aids used for training at centre.