Essel Infra's 11.5MW waste-to-energy plant in Jabalpur has been rated as the second best project in integrated Municipal Solid Waste-to-Energy category across India by the Housing and Urban Affairs ministry, a company statement said.
Essel Group is the PPP partner for this 50 MLD (million litres a day) STP contract.
GVK Infra is in talks with Essel Infra to sell Deoli-Kota road project in Rajasthan, according to people privy to the talks. They say the deal is likely to be valued at around the book value of Rs 1,000 crore, reports CNBC-TV18‘s Navin Shetty.
The concession period for the Greenfield project is 40 years, which can be further extended to another 20 years through a bid process.
Infra major GMR Infra who operates the Delhi and Hyderabad airports has bagged yet another project -- a new airport in Goa.
The remark assumes significance as 14 projects worth Rs 30,000 crore are still stuck despite a marathon meeting of bankers and developers last week to arrive at a solution and with some of these facing termination.
The meeting assumes significance as the government after a series of meetings with bankers and developers had resolved issues pertaining to 58 projects but 20 projects worth over Rs 20,000 crore are still stuck.
Sources tell CNBC-TV18 that the company is planning to raise Rs 1,500 crore via IPO and is expected to file Draft Red Hearing Prospectus (DRHP) in the next quarter.
In sharp contrast, barely Rs 6,300 crore projects could be awarded in 2014-15; while the number of projects awarded was only two in 2013-14.
The project cost is now likely to be revised upwards at the time of floating request for proposal (RFP) and the request for viability gap funding up to 20 percent pending before cabinet sub-committee.