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Power purchase agreement (PPA) from Tamil Nadu is key to GMR’s Chhattisgarh unit acquisition, SK Acharya, Chairman of NLC India told CNBC-TV18.
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GMR Infrastructure announces the completion of their strategic investment by Tenaga in GMR Energy unit. In an interview to CNBC-TV18, Madhu Terdal, Group CFO of GMR Infrastructure spoke about the same and gave his outlook for the company.
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GMR Group today said it has won an international arbitration against the Maldives government and has been awarded USD 270 million as compensation from the island nation after its contract to build an international airport in Male was arbitrary cancelled.
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The bids have started coming in, says GVK Reddy of GVK Group. However, he adds that GVK, GMR and the Tatas are the only qualified bidders.
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PTC India is in discussion with Ministry of New and Renewable Energy (MNRE) to get the power market introduced in the renewable sector. The discussions are at an advanced stage. "We believe during this year this market should also begin", Deepak Amitabh, CMD of PTC India said.
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Madhu Terdal, CFO of GMR Infra said that FCCBs will raise close to Rs 2,000 crore of which atleast Rs 1,500 crore will be used to service the corporate debt of the company.
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The company has managed to reduce its debt by Rs 450 crore, he says adding that the target is to reduce by 40-50 percent in FY16, Madhu Terdal, Group CFO of GMR Infrastructure said.
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In an interview with CNBC-TV18, Arindam Saha of Care Ratings said subdued activities in the infrastructure sector as well as certain unyielding investments made by the Srei infra impacted growth.
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Madhu Terdal of GMR Infra says the company has two companies in its portfolio that may be eligible for a partial credit enhancement.
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The government will auction the gas via a reverse bidding process to ensure that power tariffs do not go up. Each plant can bid up to 30 percent of its plant load factor (PLF).
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GMR has opened a Rs 1400-crore rights issue, recently upped its stake in the Delhi Airport and was also in the news for what some analysts said was “aggressive†bidding in the coal auction. In an interview, the company CFO discussed each.
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Adesh Sharma, MD Of Dedicated Freight Corridor Corporation (DFCC) gives a ringside view of the quantum of contracts that will be awarded by DFCC in FY15 and FY16.
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Jindal Steel and Power Limited today won the Gare Palma IV/2&3 coal mine at Rs 108 per tonne each.
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Speaking to CNBC-TV18, Terdal said the company won't be immediately impacted by positive reforms but government's PPP initiatives will help stranded road and power projects. The company's joint venture with Philippines Airport will start making profits from this year and will add around Rs 110 crore in revenue.
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Raja Lahiri, partner, Grant Thornton, says the market has seen inbound deals as well as strong domestic deals in the past 9 months.
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GMR Energy has given a part-exit to IDFC, Temasek and other investors by giving them a stake in GMR Infra through CCPS.
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The company, which has Rs 45,000 crore of gross debt and Rs 7,000 crore corporate debt on books, is looking to bring down corporate debt by 15-20% in FY14 and by 45-50% in the next 12-18 months.
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Parag Parikh, ED & CFO of Gammon Infra believes that the new exit norms are a welcome move by CCEA. He told CNBC-TV18 that it is not a solution for projects, which are not viable fundamentally. However, substitution is open for all viable commissioned projects, he added.
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GMR Infrastructure's latest asset light asset right' strategy is aimed at easing liquidity pressures in the company. With a debt of over Rs 30,000 crore, the company is keen to offload stake in assets it owns.
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The year 2012-13 was one of the most challenging years in terms of awarding of projects, says National Highways Authority of India (NHAI) chairman RP Singh.
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Parag Parikh ED & CFO, Gammon Infrastructure Projects, says that the company has posted cash profit of Rs 122 crore for nine months in FY13.
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In an economy where high borrowing costs and hurdles in acquiring land are impacting infrastructure projects, companies like Ramky Infra are looking forward to announcement of policy reforms by the government
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In an interview to CNBC-TV18, RP Singh, chairman, National Highway Authority of India (NHAI) spoke about the environmental issues as well as the lack of private equity for roads construction.
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Manish Kumar of SBI Cap Securities and Abhimanyu Bhandari of Axon Partners explain, in a discussion on CNBC-TV18, that the legal duel between GMR and NHAI regarding the termination of a significant road-project due to delays in the grant of environmental licences, will mark a precedent for projects across all sectors in the economy.
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Andrew Harrison, CEO, GMR Male Airport, says that GMR did not go to Maldives for compensation. GMR entered Maldives to enhance terminal facilities, train Maldivian staff to increase skill level of staff and corporate through CSR initiatives.
