• Adani plans to merge SEZs
• 3G issue referred to GoM
• SingTel gets nod for STD, ISD services
• Nod for FDI worth Rs 1,277 crore
• The Adani group is learnt to have sought BoA on SEZ’s approval to merge its three SEZs at Mundra in Gujarat. The merger is likely to result in lesser expenses on infrastructure, utilities and administration. The three adjacent Adani SEZs are situated near the Mundra Port which too has been promoted by the group. While two of these are multi-product zones, the third is a power SEZ. The combined area of the three SEZs is well over 6,000 hectares. Faced with a liquidity crunch, other developers including Reliance Industries too are expected to come to BoA with a similar proposal. (BS)
• The Cabinet Committee on Economic Affairs (CCEA) has referred the decision on pending issues related to the much awaited auction of 3G spectrum to a group of ministers (GoM) following inter-ministerial differences over the reserve price for the spectrum and the number of blocks to be auctioned. In its Cabinet note, DoT had put forward three options — retain the base price for an all-India licence for the spectrum at Rs 2,020 crore, increase it to Rs 3,540 crore or double it to Rs 4,040 crore. The note also asked for the department of legal affairs’ view on whether DoT was required to refer the issue of spectrum price back to TRAI and had left it to the CCEA to decide the contentious issue of whether a 2 % administrative charge should be levied on the successful bidder. The latest development means that the auction has been delayed indefinitely. (BS)
• According to sources, Singapore Telecommunications (SingTel), which has a 31% stake in Bharti Airtel, has received Govt’s approval to offer long distance services in India- which means that SingTel can carry STD and ISD traffic, besides offering communication and internet services, to corporates and institutions. Bharti is likely to hold a 9.9% stake in the joint venture. SingTel will not compete with Bharti’s NLD/ILD business in India and the NLD/ILD license obtained by SingTel will be used only for limited purpose of serving some of its international corporate customers.(ET)
• FIPB has cleared 31 foreign direct investment (FDI) proposals worth Rs 1,277.23 crore including of firms such as Morgan Stanley Financial Services, Keystone Realtors and Ramky Enviro Engineers. The largest investment proposals have come from Ramky Enviro Engineers and Keystone Realtors, which intend to invest Rs 320 crore and Rs 300 crore, respectively. (FE)
