Indian Railways will borrow less at `13,800 crore from the market through its two companies IRFC and Rail Vikas Nigam Ltd for capital expenditure during 2014-15. In the current fiscal, as per the revised estimate, these two companies raised Rs14,942 crore from markets. Indian Railways Finance Corporation (IRFC) will raise `12,800 crore in 2014-15 for investment in rolling stock and projects. Besides, the other financial firm under Indian Railway, Rail Vikas Nigam Ltd (RVNL), plans to raise `1,000 crore through market borrowing.
Atlas Copco Portable Energy said it had recorded a 70% increase in its portable used equipment business for 2013. The growth was supported by expansion of its Used Equipment Competence Center in Katowice, Poland, together with the establishment of regional representation in the US. The company is now actively developing business from rental companies to meet demand for its premium and certified compressors and generators in 2014.
ONGC Videsh Ltd (OVL) the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), has raised $2.5 billion to fund acquisition of a 10% holding in the Mozambique gas field. The company bought US energy major Anadarko Corporations 10% stake in the gas field for $2.6 billion. OVL has entered into separate agreements with international banks to raise $2.5 billion by way of offshore borrowings.