Jet resumes flightsSeptember 12th, 2009 MUMBAI - Jet Airways resumed operations on a modest scale with 37 flights Sunday after a crippling five-day strike by pilots ended overnight. Two of the flights - Mumbai-Dubai and return - were operated on an international route.
Himachal to get Rs.135 crore for rural infrastructureJuly 27th, 2009 SHIMLA - The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs.135 crore to the Himachal Pradesh government for developing rural infrastructure, an official statement said Monday. "Nabard has sanctioned Rs.135 crore to Himachal Pradesh for the year 2009-10.
BGR Energy Systems net profit up 17 percentJuly 25th, 2009 CHENNAI - City-based engineering and infrastructure firm BGR Energy Systems has posted a net profit of Rs.20.23 crore for the quarter ended June 30 as against Rs.17.23 crore reported in the like period last year, a growth of 17 percent. The company's turnover during the period stood at Rs.311 crore as compared to Rs.306 crore in the April-June quarter last fiscal, BGR said in a statement.
Mumbai flood project gets Rs.500 croreJuly 6th, 2009 MUMBAI - Finance Minister Pranab Mukherjee Monday allocated Rs.500 crore to the Brihanmumbai Storm Water Drainage Project designed to control floods in the city during monsoon. The Rs.1,200-crore project, entirely funded by the central government, was sanctioned Rs.500 crore last fiscal.
Stalin demands gas grid in southern IndiaJuly 4th, 2009 CHENNAI - Tamil Nadu Deputy Chief Minister M.K. Stalin Saturday requested the central government to set up a gas grid in the south for the rapid industrialisation of the southern states.
Larsen and Toubro bags orders worth Rs.6.51 billionJuly 1st, 2009 MUMBAI - Engineering and construction major Larsen and Toubro (L&T) has bagged orders aggregating Rs.651 crore (Rs.6.51 billion/$135 million) for two hydrocarbon projects. It has won a Rs.440-crore contract from HPCL-Mittal Energy to build a greenfield refinery at Bathinda, the company said in a regulatory statement Wednesday.
Rs.13,397 crore for road projects in Kashmir, northeastJune 30th, 2009 NEW DELHI - The ministry of road transport and highways has earmarked Rs.13,397.2 crore for road projects in Jammu and Kashmir and northeastern states, it said Tuesday while releasing its 100-day agenda. The ministry has also set time lines for 30 projects so that they will be executed on fast track.
Apollo Hospitals to raise funds for expansionJune 29th, 2009 CHENNAI - City-based healthcare company Apollo Hospitals will raise Rs.250 crore from International Finance Corp (IFC) to fund expansion programmes, said a top company official here Monday. Sharing the financial results of the company for 2008-09 with reporters, Apollo finance director Suneeta Reddy said: "We have lined up expansion projects worth Rs.1,500 crore.
Air India offers special fares on select domestic routesJune 27th, 2009 NEW DELHI - India's cash-strapped national carrier Air India Saturday announced special fares for select domestic destinations, hoping the low fares would "improve the load factor". The special fares will apply for travel to Delhi, Mumbai, Kolkata, Chennai, Hyderabad and Bangalore.
Delhi Govt. to focus on transport, urban development and water-sanitationJune 22nd, 2009 NEW DELHI - Delhi Government on Monday revealed through its budget that it would primarily focus its attention on transport sector, urban development and water and sanitation in the year ahead. The highest share in the budget 2009-10 has been earmarked for transport sector which was given Rs 3,069 crore (about 31 per cent) followed by Urban Development with Rs 1,524 crore (15 per cent) and Water and Sanitation with Rs 1,366 crore (14 per cent).
Tamil Nadu sanctions Rs.550 crore for Chennai MetroJune 10th, 2009 CHENNAI - The Tamil Nadu government has sanctioned Rs.550 crore for the first phase of the Chennai Metro Rail project, Deputy Chief Minister M.K. Stalin said here Wednesday.
GMR Infrastructure's last quarter profit up 6.43 percentJune 5th, 2009 MUMBAI - GMR Infrastructure, promoted by the Bangalore-based GMR group, has posted consolidated a net profit of Rs.53.24 crore for the quarter ended March 31, as against Rs.50 crore in the corresponding quarter the previous fiscal, an increase of 6.43 percent, the company announced Friday. Despite the recessionary trends in the economy and the effects of the global meltdown, the GMR group has been able to demonstrate peak revenue growth, spotless project execution, improved operational efficiency and timely funding for all its projects and acquisitions, GMR chairman G.M.
Foreign investments worth Rs.541 crore approvedApril 27th, 2009 NEW DELHI - The government has cleared 22 foreign investment proposals worth Rs.541 crore, including a Rs.237.2-crore project of Mumbai-based telecom company Tikona Digital Networks, the finance ministry said Monday. Kolkata-based water infrastructure company Electrosteel Castings and Anant Raj Industries are also among the companies whose projects got the government nod.
South India more attractive for investors: AssochamApril 5th, 2009 NEW DELHI - Metros in South India are more attractive for infrastructure projects than their counterparts in the other parts of the country, an industry lobby report said Sunday. According to the report, 'Indian Metros: Pulling Infrastructure Investment', released by the Associated Chambers of Commerce and Industry (Assocham), Hyderabad, Bangalore and Chennai received 70 percent of the total private infrastructure investment came to the six major metros in the country.
Rs.1.31 trillion sanctioned for flagship programmesFebruary 15th, 2009 NEW DELHI - The government has allocated Rs.1.31 trillion (Rs.131,317 crore) for its flagship programmes in the coming fiscal. External Affairs Minister Pranab Mukherjee, while presenting the interim budget for 2009-10 to parliament Monday, said Rs.301 billion (Rs.30,100 crore) would be made available to the National Rural Employment Guarantee Scheme (NREGS) for the next financial year.