Slowdown effect: No bidders for 40 percent of road projects

October 5th, 2009 NEW DELHI - Some 40 percent of road construction projects in India face cost escalations of 25-50 percent, even as corruption and the shortage of skilled labour may inhibit the sector's growth over the next eight years, says the World Bank. The effectiveness of dispute resolution mechanism is another area of concern with $1.8 billion estimated to be locked in various disputes and arbitration, says the bank in a new study on India's road construction industry.

October 1st, 2009 NEW DELHI - The cabinet Thursday approved amendments in the mega power policy to encourage setting up of new power plants. According to the new norms, the states that control the power distribution network can also buy electricity from mega power plants.

July 31st, 2009 2 indicted in $1 million Afghanistan bribe schemeWASHINGTON — A federal grand jury has indicted two men for allegedly trying to bribe a U.S. Army contracting official with $1 million to win a road construction project in Afghanistan, the Justice Department said Thursday.

July 23rd, 2009 SHIMLA - Mumbai-based ship building major ABG Shipyard Ltd has been allotted three hydroelectric projects in Himachal Pradesh after global bidding, an official said Thursday. "The government has allotted three out of five major hydropower projects to ABG Shipyard Ltd of Mumbai.

July 13th, 2009 NEW DELHI - Bidders for infrastructure projects in the shipping sector need to have a minimum net worth that is twice the project cost, the government said Monday. "Since BOT (build, operate and transfer) projects require the concessionaire to make the investment required for the project, it was suggested that threshold be increased to twice the project cost," Shipping Minister G.K.

July 11th, 2009 Delphi receives no new bidders on assetsNEW YORK — Auto parts maker Delphi Corp. says a deadline has passed with no further bidders on its business, paving the way for a sale to a California private-equity firm and General Motors Corp.

June 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.

June 30th, 2009 NEW DELHI - The government Tuesday said it will invest a huge fund for building and revamping road infrastructure in Jammu and Kashmir and northeastern states. The ministry of road transport and highways, while releasing its 100-day agenda, said it has earmarked Rs.13,397.2 crore ($2.8 billion) for road projects in Jammu and Kashmir and northeast.

June 24th, 2009 NEW DELHI - The Associated Chambers of Commerce and Industry of India (Assocham) Wednesday urged the government to exempt infrastructure projects from excise, value-added tax (VAT) and central sales tax (CST) to make them more cost-effective. "On account of excise, VAT and CST, the capital costs of projects become dearer by over 20-25 percent which puts huge burden on companies commissioning infrastructure projects," said Assocham president Sajjan Jindal.

June 8th, 2009 HYDERABAD - Despite the economic slowdown, Andhra Pradesh has targeted eight to nine percent average annual growth for the next five years. The Congress government, which was re-elected last month, has set 4 and 10 percent growth rates for the agricultural and industrial sectors respectively.

May 11th, 2009 LUDHIANA - Prime Minister Manmohan Singh Monday said it was 'creditable' that the United Progressive Alliance (UPA) government had been able to sustain the country's growth despite the global economic slowdown. 'Despite recession, our growth rate is the second highest in the world.

January 28th, 2009 BHOPAL - Asserting that the economic slowdown has not impacted Madhya Pradesh's industrial sector, state Industries Minister Kailash Vijayvargiya Thursday said of the agreements worth Rs.370,000 crore (Rs.3.7 trillion) signed during the previous Bharatiya Janata Party (BJP) regime in the state, work on projects worth Rs.125,000 crore (Rs.1.25 trillion) has already started. Addressing a press conference after reviewing the status of memoranda of understanding (MoUs) with industrialists, the minister said a total of 309 MoUs, including those inked with the commerce and industries, IT and food processing departments, came up for appraisal.

January 14th, 2009 NEW DELHI - The central government Thursday approved the four-laning of the Walayar-Vadakkancherry section and six-laning of the Vadakkancherry-Thrissur section of the National Highway 47 in Kerala. The Cabinet Committee on Economic Affairs (CCEA) gave its approval to the Rs.13.3-billion road expansion schemes, which will be executed under the National Highways Development Project (NHDP) on a design, build, finance, operate and transfer basis.

January 13th, 2009 NEW DELHI - The government should consider allowing foreign airline operators to own up to 25 percent stake in Indian carriers, Civil Aviation Minister Praful Patel said here Wednesday. 'We have not taken a formal decision on this.

January 7th, 2009 KOLKATA - Civil engineering and construction company Simplex Projects is eyeing projects in the Middle East and the Netherlands, a top official said here Thursday. 'We are in talks for projects in these countries, and in the next two months we will achieve something,' company chairman and managing director B.K.