Finance

SPV Created For Infrastructure Project

By Sunil Kumar

The Union Cabinet yesterday approved the formation of a 100 per cent owned Special Purpose Vehicle (SPV) for execution of the Lakhnadone-Ghansore road project in Seoni district of Madhya Pradesh on a build, operate and transfer (BOT) basis.

An official press release said the public sector Telecommunications Consultants India Limited (TCIL) would invest Rs 23.11 crore, that is 35 per cent of the project cost, in equity in the SPV from its internal resources.

TCIL, a premier telecommunications consultancy and engineering company with a strong base in telecommunications & information technology, was incorporated in 1978 by Government of India. Of late, the company has diversified into civil works, an official press release said.

TCIL is engaged in telecom projects in India and abroad, directly or through its joint venture companies/subsidiaries. The company has worked in over 60 countries and has also contributed in providing strategic communication in the neighbouring countries like Nepal, Bangladesh, Afghanistan, Bhutan and Sri Lanka.

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Visit aglaia.co.in Marble Rocks, Madhya Pradesh, Inde. (Photo credit: Wikipedia)

The company`s paid up capital now stands at Rs. 43.20 crore.

 SPV Created For Infrastructure Project
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Oil Falls Through $106 A Barrel in Asia Trade

oil barrels and stairs pallet 300x168 Oil Falls Through $106 A Barrel in Asia Trade

Visit aglaia.co.in

By Sunil Kumar

Crude for June delivery lost 24 cents, or 0.2%, to $105.92 a barrel on the New York Mercantile Exchange during Asian trading hours.

The losses followed a 1.2% gain made in the North American trading session Tuesday, after an optimistic U.S. manufacturing report buoyed investor confidence in the economic recovery.

Analysts polled by sources expect crude inventories to rise 2.5 million barrels, gasoline stockpiles down 1 million barrels, and inventories of distillates down 400,000 barrels.

 

300px New York Mercantile Exchange Oil Falls Through $106 A Barrel in Asia Trade

New York Mercantile Exchange ???????: ???-???????? ???????? ????? (Photo credit: Wikipedia)

 Oil Falls Through $106 A Barrel in Asia Trade
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