Adani Power, part of the sprawling Indian conglomerate led by Gautam Adani, has issued an ultimatum to the Government of Bangladesh: settle $800 million in outstanding payments by November 7 or face a complete power supply cut. The power supplied to Bangladesh originates from the 1,600 MW Godda coal-fired power plant in Jharkhand, India. Adani […]
In a momentous move to mitigate the pressing shortage of affordable and mid-income housing in Maharashtra, two major players, IFC and Sunteck Realty, are joining hands. They are injecting a robust investment of up to INR 7,500 million (US$90 million) to spur the creation of nearly 12,000 state-of-the-art housing units. These units will span across […]
United States President Joe Biden has left for India to attend the G20 Summit, with Air Force One taking off from Joint Base Andrews near Washington. The plane is scheduled to land in New Delhi on Friday. The summit does not include China’s Xi Jinping and Russia’s Vladimir Putin, elevating the importance of Biden’s participation. […]
Ashiana Housing Limited (AHL), an Indian real estate development company, and World Bank’s International Finance Corporation (IFC) are jointly studying a proposal for co-investing in senior living projects and other upcoming middle income residential projects. The proposal expects an overall investment of INR 225 crores to be made on a project-to-project basis by IFC, which […]
Boskalis, a Dutch dredging and heavylift company, has won a contract worth around €55 million to protect the eroded Togo and Benin coastline and build an innovative sand engine concept for replenishment of beach. The work is for a coastline of over 40kms long spanning from the eastern coastline of Togo to the western coastline […]
TATA Projects has won contracts worth around $323 million to execute multiple transmission and distribution (T&D) projects across the African continent. In the East Africa region, the Indian infrastructure company has bagged a $79 million project funded by the African Development Bank (AfDB) for 280km 400kV D/C overhead transmission line between Nyakanazi and Kigoma in […]
Rattanindia Enterprises, an Indian conglomerate which holds a significant stake in Revolt Motors, has welcomed a proposal from Niti Aayog to the Reserve Bank of India (RBI) to categorize loans to electric vehicles (EVs) as priority sector lending (PSL). By including EVs under priority sector lending, the costs of finance will be reduced and will […]
Om Infra Ltd has been issued a letter of acceptance (LOA) from the Manipuri government for a contract worth around INR 410 million for hydro mechanical equipment for Imphal Barrage. As per the terms of the contract, the construction engineering company will be responsible for the design, supply, installation, testing and commissioning of the equipment […]
Tractebel has bagged a contract from the Water & Power Development Authority of Pakistan (WAPDA) for the 2,160MW DASU hydropower project to be built along the Indus River in Pakistan. Under the contract, Tractebel will be responsible for providing monitoring consultancy services for the implementation of the Pakistani hydropower project, which will come up 7km […]
The World Bank has announced a financial support of $600m (around Rs 3,870 crore) to the Indian state of Jharkhand for four new projects, in the next 2-3 years. While, one of them is a water supply and sanitation project, another one is for improving power transmission capacity in the state. The announcements in this […]