The government on Tuesday saw lukewarm response to its third auctioning under the gas pooling scheme for stranded power plants, receiving bids for only 7.2 mmscmd.
In an interview to CNBC-TV18's Shereen Bhan, Sanjay Reddy, VC, GVK Power & Infrastructure, Sumit Mazumder, President of CII and Rajiv Memani of EY expressed and discussed their expectations on Arun Jaitely's Union Budget.
The company‘s Alakhnanda Hydropower project of 330 megawatt capacity is expected to start commercial operations next month.
Sanjay Reddy, vice chairman, GVK Power says the deal comes as the realty sector is seeing greenshoots of revival under the Modi-led government.
Sanjay Bhatia, vice chairperson and managing director, CIDCO, says the company will hold 26 percent stake in the new airport.
The L&T mangement said that it would take another six to seven months to break the existing Sahar.
GVK Reddy, chairman and Sanjay Reddy, vice-chairman of GVK Group in an interview to CNBC-TV18 discuss what went behind the scenes in terms of putting this new airport together.
In an interview with CNBC-TV18, Isaac George, Director - Finance, GVK Power and Infrastructure, spoke about its consortium, Mumbai International Airport Ltd, provided a status update about the construction work at the airport and discussed the company‘s other projects.
The shift to power projects may be a positive development, but it all depends on the quantum of gas that will be made available for the power sector. Unless and until the quantum of gas is enough to operate power projects at 70-80 percent capacity, it will not make much sense because the losses on account of heat rate would be substantial
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.
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.
GVK Power and Infrastructure, which operates Mumbai and Bengaluru airports today, denied the reports suggesting that the company was looking for overseas listing of its airport business.
The appointment of new road regulator is a welcome move, Isaac George, Dir-Fin & CEO-Transportation, GVK Power told CNBC-TV18 cheering Budget 2013.
Last month GVK Power terminated contract with the National Highways Authority (NHAI) for constructing Shivpuri-Dewas expressway. The company however did not divulge reasons of its exit from the project but media reports suggested that it was due to delay in environmental clearances.
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
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.
Passengers can expect some relief after airport development fee (ADF) is scrapped from January, said civil aviation minister Ajit Singh. He said that Airports Authority of India (AAI) has made around RS 5,000 crore in the last five years by charging ADF at Mumbai and Delhi airports.
Sanjay Reddy of GVK Power & Infrastructure says Airports Economic Regulatory Authority (AERA) has floated consultation papers on tariff last week. "We expect that by December the tariff will be announced officially. The consultation paper suggests that from January 1, 2013 it will become effective," he adds.
Last week 21 Indian states plunged into darkness as the northern, north-eastern and eastern grids collapsed. Power was restored within the day but, India's abysmal infrastructure created headlines around the world. An embarrassed government put up a brave defense.
Sanjay Reddy, the vice chairman of GVK Infra and the director of GVK Power says the company will provide the additional documents to the Australian federal government for the environmental clearance and expects a positive outcome soon.
In an interview to Isaac George, chief financial officer of GVK Power & Infrastructure says, extension of 80IA benefits is good for the power companies. "I believe 80IA benefits need to be extended beyond 2013," he adds.
Diminishing supply of gas and coal are putting pressure on power companies to cut back production. CNBC-TV18 catches up with the chief financial officer of GVK Power & Infrastructure, Isaac George, to get an insight to the situation and the way forward for his company.
GVK Power acquired a major coal resource and infrastructure development project, Hancock Coal in Australia. Valued at USD 1.26 billion, it is one of the largest overseas acquisitions made by an Indian infrastructure company.
In an interview with CNBC-TV18, Isaac George, CFO, GVK Power & Infrastructure spoke about the latest happenings in his company.
Speaking to CNBC-TV18 about his budget expectations, Isaac George, CFO, GVK Power, said, the minimum alternate tax (MAT) has risen to 20% and is eating up all the tax benefits enjoyed by infrastructure companies.