• Government moves to protect banks’ exposure in highways
The government is set to incorporate a number of changes in contract conditions which will significantly reduce the risk on loans given to highway projects becoming NPA. The amendments that have been cleared include lenders getting 'stepping right' in projects where they find huge difference between physical progress compared to the amount of loan they have released.
• L&T terminal likely to be taken over by Adani group
Adani Group is in the final stage of getting into an arrangement with L&T to take over the operational and management control of Kattupalli International Container Terminal near Chennai.
The terminal was built at a cost of Rs 4,000 crore and this deal is as part of L&T’s strategy to unlock value from non-core assets. The container terminal currently has two container berths and it handles 1,200 containers per month and got three regular services. The deal would be value unlocking for L&T.
• ICRA sees risk of under-recovery and concerns in power projects
As per ICRA’s latest report, power sector now stares at a fresh risk of significant under-recovery and concerns on the viability of projects after the generators bid for coal aggressively.The rating agency said that the recent bid for coal blocks that were earlier de-allocated saw negative price bids ranging from Rs 300-1,100 per tonne by winners, which could translate into under-recovery of 40 paise to Rs1.20 per unit of power for projects totalling 6,000 mw, creating concerns over their viability.
• Bids are submitted for 5th round of retail CNG licences
PNGRB had in February offered 20 cities in the 5th round of bidding for city gas licences. Indian Oil Corp Adani combine bid for licence to retail CNG at 5 cities; GAIL for 2 cities; GAIL BPCL combine for 3 cities GSPS for 1 city. HPCL in joint venture with Andhra Pradesh Gas Distribution Corp Ltd bid for licence to retail CNG and piped cooking gas in East Godavari, Krishna and West Godavari districts of Andhra Pradesh.
• Delhi HC asks Centre to resume gas supply to Deepak fertiliser
Delhi HC asks Centre to resume gas supply to Deepak fertiliser which was disconnected in May 2014. Delhi High Court has ask government to implement policy uniformly without discrimination. Positive for the company.
• Tata Comm to expand its network presence in India
Tata Communications announced that Orange Business Services has entered into an agreement with Tata Communications to expand its network footprint in India. The Network-to- Network Inter connet (NNI) agreement is part of a strategic partnership between the two companies and will increase Orange domestic coverage ten-fold to over 120 cities to meet customer demand.
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