The National Highways Authority of India will seek approval from its board for flexibility in awarding road projects and not always go by a formula devised earlier. While seeking the flexibility, it will also come with a clause that these projects are monetised within three years.
Road transport and highways Minister Mr Nitin Gadkari said the ministry would stick to the EPC mode, which is fully funded by the government, while awarding road projects in the current scenario, when the private sector’s ability to invest has been limited by the global slowdown.
Coal India’s foreign acquisitions plan has hit a roadblock with all top merchant bankers refusing to offer consultancy or carry out due-diligence of assets shortlisted by the firm. This is likely to delay the company’s foreign ventures since it will now have to look for second rung bankers ready to offer services to the coal sector.
According to World Steel Association latest report, India’s crude steel production increased marginally by 1.8% to 111.2 million tonnes in 2019 compared to 109.3 million tonnes in 2018. The global crude steel production was at 1,869.9 million tonnes in 2019, up by 3.4% compared to 2018.
Anil Kumar Jain, Secretary, Ministry of Coal, Govt of India has said that the government is looking at reducing the entry barriers in coal mining which will have a spin effect on the GDP growth and the economy. He further added that the Ministry is open to all suggestions in this regard and will go to the Cabinet after the consultation series are over.
With the World Trade Organization’s Appellate Body not functioning, India and the US have agreed to engage in discussions in “good faith’’ to sort out the dispute over countervailing duties imposed by Washington on certain Indian steel products.