GMR Infrastructure Ltd announced on Wednesday that its unit GMR Energy, through its subsidiaries, has bought Indonesia's PT Barasentosa Lestari.

In a disclosure to the Bombay Stock Exchange, the group said that said it has acquired 100 per cent stake in Indonesia-based PT Barasentosa Lestari through its wholly-owned subsidiary, GMR Energy, for an undisclosed amount.

It further added that the Indonesian firm holds a license providing a 30-year mining authorization over two coal blocks in the country.

New Delhi, Feb 16: The corpus of the Rural Infrastructure Development Fund (RIDF), which is the main instrument of the Government to channelise bank funds for financing rural infrastructure, has been increased from Rs. 5,500 crore in 2003-04 to Rs. 14,000 crore for the year 2008-09 ensuring greater availability of funds for its activities.

This was stated by, Finance Minister Pranab Mukherjee, while presenting the Interim Budget 2009-2010 in the Lok Sabha here today.

He also added that a separate window for rural roads was created under RIDF with a corpus of Rs. 4,000 crore for each of the last three years.

India's Reliance Infrastructure Ltd, part of the Anil Dhirubhai Ambani group, on Friday launched a Rs 700 crore ($144 million) buyback offer to boost its share price and returns.

The company said it would buy back shares from the open market at up to Rs 700 each, a premium of more than 27 percent to Thursday's closing price of Rs 550. It may be noted that the buyback announcement comes within a week of the infrastructure firm completing its Rs 796 crore buyback from the open market.

HCC, India's leading construction and infrastructure development Company, in joint venture with John Laing Investment Ltd and Sadbhav Engineering Ltd has bagged the prestigious order from National Highway Authority of India (NHAI) to construct the 96.5 km highway from Maharashtra-Madhya Pradesh Border to Dhule on NH-3 on BOT basis.

The joint venture, known as 'HCC-Laing-Sadbhav Consortium', has been awarded the project in the ratio of 37:36:27. The cost of the project is estimated at about Rs 1415 crore.

Infrastructure conglomerate Jaiprakash Associates Ltd (JAL) has announced the results for the three month period ended December 31, 2008.

The flagship of Jaypee Group has posted a growth of six per cent (6%) in profit after tax (PAT) for the three month period, which stood at Rs 165.51 crore from Rs 155.8 crore the previous year.

There was an increase by 44.49 per cent to Rs 1,447.12 crore from Rs 1,001.57 crore the previous year in the total inclone of the company for the quarter.

Telecom infrastructure company, GTL infrastructure posted a net loss of Rs 1.4 crore in third quarter ended December 31, 08, which is less than total losses suffered by the company in the same period last year. The company had posted a net loss of Rs 16 crore in the third quarter last year.

Tax provisions and tight financial conditions impacted its business leading to decline in net profit. However, the company expressed satisfaction over its performance and said that it would chalk out new business strategy to improve its working efficiency.