special purpose vehicle
In a recent exchange filing, IL&FS Transportation Networks Ltd (ITNL) has disclosed that its special purpose vehicle (SPV) – Shrinagar Sonmarg Tunnelway Ltd – has tied up a loan of Rs 2,363 crore with the ICICI bank. In the SPV, Soma Enterprises Ltd and ITNL are 51:49 equity partners. ITNL said in the exchange filing [...] Continue Reading »
REITs are investment trusts that own and, in most cases, even operate income-producing real estate. The trusts operate like mutual funds and invest in income-generating real estate assets like commercial realty, residential property, warehouses, hospitals, hotels and shopping centres So, while mutual funds invest in equities or bonds, REITs invest in real estate and make [...] Continue Reading »
In an apparent attempt to encourage the participation of the private sector in construction of roads, a proposal has been revived by the government to facilitate the developers in selling off their stakes in road projects. According to the information shared by two unidentified officials of the Roads Ministry, the proposal revived by the government [...] Continue Reading »
A prospective special purpose vehicle (SPV) route is being explored by Bangalore-based real estate developer RMZ Corp to expand into other cities. For further expansion, RMZ has apparently set its eyes on Chennai. Moreover, the company is also apparently planning to venture into office space realty by expanding into Mumbai, NCR, and Hyderabad. In fact, [...] Continue Reading »
While Reserve Bank of India has already agreed to letting state-run banks raise capital from employees and setting up holding companies, the government is pondering over a plan where banks could also raise capital by leveraging real estate holdings. Banks have suggested that each bank set up a special purpose vehicle (SPV) and have their [...] Continue Reading »
Union Ministry of Food Processing Industries (MoFPI) has asked the Odisha government, following the amendment of guidelines of Mega Food Park Scheme, to send proposals for developing new mega food parks in the state. 40 mega food park projects have been approved by MoFPI in as many as 23 states which are in various stages [...] Continue Reading »
The Hyderabad Metropolitan Development Authority (HMDA) has concluded the concept for its Hyderabad Habitat Centre and sent it for acceptance of the municipal administration and urban development (MA&UD) department. The Hyderabad Habitat Centre (HHC) is constructed in about 12.5 acres at Izzatnagar near Hi-Tech City railway station, for promotion of heritage, art and culture on the lines [...] Continue Reading »
The state will now extend guarantee to the finances for the project, as the cabinet guide the way. 57% loan of the total project cost will be extended by Japanese International Cooperation Agency. A joint body of Central as well as state government has been formed, as special purpose vehicle (SPV), to take the Rs [...] Continue Reading »
The Union minister for urban development (UD), Kamal Nath, accorded an in-principle approval for the Pune metro project on Wednesday, helping the project move a step further towards realization. The project is planned to cover a 31.51 km stretch along two corridors—PCMC building to Swargate and Vanaz to Ramwadi. The approval will enable the state to fast track [...] Continue Reading »
Pune metro rail project has finally got a budget of Rs 10 crore in the Union Budget which was announced recently. The long delayed project had proposals from Pune and Pimpri-Chinchwad municipal corporations in association with the Delhi Metro Rail Corporation. Pune metro, for the first time has got listed in this year’s list of projects of the urban [...] Continue Reading »
