Latest news with #capitalexpenditure
Bloomberg
6 days ago
- Business
- Bloomberg
India's LIC Sole Buyer in Adani Ports' Record Rupee Bond Sale
Life Insurance Corp. of India is the sole buyer in Adani Ports & Special Economic Zone Ltd.'s record 50-billion-rupee ($585 million) bond sale, according to people familiar with the matter. The company will issue a 15-year bond with a coupon of 7.75%, the people said, asking not to be identified as the information is private. The firm will use the proceeds for capital expenditure and refinancing existing dollar debt, they said.
Reuters
27-05-2025
- Business
- Reuters
CenterPoint Energy increases capital plan to meet data center power demand
May 27 (Reuters) - CenterPoint Energy (CNP.N), opens new tab on Tuesday increased its 10-year capital expenditure plan to $52.5 billion through 2030, up from $48.5 billion, to cater to anticipated demand from artificial intelligence data centers, the utility said on Tuesday. U.S. power companies are significantly increasing their capital expenditure budgets as they manage soaring requests for additional power capacity from Big Tech firms scouting the nation for optimal locations to build new data centers. CenterPoint intends to spend $4 billion in new projects to support its growth in Texas. In April, the company had said that new connection requests had surged by nearly 7 gigawatts since the end of January, strengthening its confidence "in the robust economic outlook for (Texas)".
Bloomberg
27-05-2025
- Business
- Bloomberg
Corporate America Forging Ahead With Capex Plans Buoys Stocks
Wall Street's fear that trade-war anxiety would grind corporations' spending on machinery and real estate to a halt, so far, is looking a little overblown. President Donald Trump's barrage of ever-changing tariffs on US trading partners has yet to convince much of Corporate America to pull back capital expenditure plans for this year. After pouring in a record amount of money to build their businesses in the final quarter of 2024, companies are forging ahead – a promising sign for the durability of the stock market's rebound from last month's lows.
Zawya
23-05-2025
- Business
- Zawya
Nigeria FCTA: We've allocated $33mln to health sector — Wike
The Federal Capital Territory Administration (FCTA) has allocated N54 billion of the N1.7trn 2025 statutory budget into the health sector to complete rehabilitation of hospitals and procurement of modern equipment. FCT minister, Nyesom Wike said out of the amount N34 billion is for recurrent expenditure, which includes the sum of N1.3billion for drug revolving fund while the sum of N20 billion is for capital expenditure in the health secretariat. During the separate defence of the N1.7bn budget before Senate and House of Representatives committees, Wike said 72.30 per cent of the total proposed budget, amounting to N1,289,690,124,776, was earmarked for capital expenditure while the remaining 27.70 percent, totaling N494,133,583,616 was for recurrent expenditure. He outlined that N80 billion for SUKUK loan projects, N25 billion for the Abuja Light Rail project, N15 billion for Abuja Greater Water Supply, and N250 billion from commercial loans to complete ongoing capital projects in the FCC and satellite towns. The remaining N919,690,124,776 was dedicated to the completion of ongoing capital projects and counterpart-funded initiatives aimed at boosting socio-economic activities across the FCT. According to the breakdown, capital expenditure showed that N801.5 billion was allocated to the FCDA, N137 billion to the STDD, and N351.2 billion to other Secretariats, Departments, and Agencies (SDAs) for their capital expenditures and select new projects. He said the 2025 capital budget prioritizes the completion of critical ongoing infrastructure projects. These include the completion of roads B6 and B12, full scope development of Arterial Road N20, provision of engineering infrastructure to Guzape, Wuye, and Maitama II Districts, extension of Inner Southern Expressway (ISEX), and full scope development of FCT Highway 105 (Kuje Road). Other vital projects are the construction of Northern Parkway from Ring Road II to Ring Road III, full scope development of Arterial Road N20 from Arterial Road N5, rehabilitation of Old Keffi Road, full scope development of Arterial Road N1, and provision of access roads to Bus Terminals. Additionally, the upgrading of Ushafa War College/Army Check Point Road, the construction of Pai-Gomani Road, and dualization of Kuje-Gwagwalada road are also included. On recurrent expenditure, N150,353,906,168 (8.43 percent of the total) was proposed for personnel costs, while overhead cost was allocated N343,779,448 (19.27 percent). Sectoral highlights of the FCT's 2025 statutory budget proposal showed that infrastructural sector (Roads, Districts Development and Public Buildings) was allocated the sum of N383.5 billion, Transportation sector has a provision of the sum of N79.3 billion, education sector has a budgetary proposal of N181 billion while the health sector has a proposed sum of N54 billion in the year 2025. Other sectors, such has environment, was allocated the sum of N22.9 billion, Water sector got the sum of N37.4 billion, agriculture got the sum of N8.3 billion, social development sector got the sum of N23.7 billion, legal services got N7.7 billion, land administration got N1.5 billion while Area Councils Services Secretariat was allocated the sum of N3.1 billion. The FCT Minister also outlined the FCT's 2025 revenue fiscal framework, comprising distributable revenue of N1,392,573,937,087 and non-distributable revenue of N391,249,771,305. Revenue sources include proceeds from the 1 per cent of the 52.68 percent statutory allocation of the Federal Government from the Federation Account, Internally Generated Revenue (IGR), and other sources as detailed in the Revenue Fiscal Framework. Wike pledged his Administration's commitment to completing ongoing projects, many of which were initiated by previous administrations. He expressed the current administration's determination to see the projects to conclusion. The Minister acknowledged and commended the consistent support of the National Assembly to the FCT Administration, specifically praising the swift consideration of the 2025 statutory budget proposal. 'It's not been long that Mr. President sent this to you and expeditiously, you've done the first and second reading and now we are in Committee stage. It has never happened. Since your inception, you have always given us that support. We have never suffered any delay in budget passage. We want to say that we will not take this for granted. We will continue to cooperate with you for the development of the FCT,' he stated, while urging for an accelerated passage of the FCT's 2025 statutory budget proposal' Said Wike. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Bloomberg
22-05-2025
- Business
- Bloomberg
Adani Ports Gets About $150 Million Loan From DBS for Capex
Adani Ports & Special Economic Zone Ltd. raised about $150 million through a bilateral loan agreement with DBS Group Holdings Ltd., according to people familiar with the matter, as the Indian conglomerate continues to restore lender confidence. The proceeds of the four-year dollar loan will be used for capital expenditure, the people said, asking not be identified because the information is private. The facility has been priced at about 200 basis points above the benchmark Secured Overnight Financing Rate, they said.
