The Cabinet Committee on Economic Affairs, CCEA today cleared conversion of Bank of Baroda's 29.91 crore rupees loan to Andrew Yule & Co into equity shares. It will pave the way for disinvestment of the Kolkata-based PSU in the next three months.The conversion of loan to equity would help bring down the cost of servicing of debt, resulting in improved profitability and liquidity of Andrew Yule in coming years. <br/><br/>The CCEA also approved four-laning of Hospet -Bellary-Karnataka/Andhra Pradesh Border section of NH – 63 in Karnataka. The total length of road will be approximately 96 kilometers and it will cost around one thousand six hundred twenty one crore rupees. <br/><br/>The CCEA also approved acquisition of 51 per cent of shareholding in Viom Networks Limited by M/s ATC Asia Pacific Limited Singapore. The approval will result in FDI inflow of over 5 thousand 8 hundred 56 crore rupees into telecom infrastructure which will spur economic growth.

The Cabinet Committee on Economic Affairs, CCEA today approved conversion of Working Capital Term Loan given by Bank of Baroda of nearly 30 crore rupees to Andrew Yule and Company into equity. The decision will bring down cost of debt servicing by Andrew Yule and Company Limited resulting in improved profitability and liquidity. <br/><br/>The CCEA also approved four-laning of Hospet -Bellary-Karnataka/Andhra Pradesh Border section of NH – 63 in Karnataka. The total length of road will be approximately 96 kilometers and it will cost around one thousand six hundred twenty one crore rupees. <br/><br/>The CCEA also approved acquisition of 51 per cent of shareholding in Viom Networks Limited by M/s ATC Asia Pacific Limited Singapore. The approval will result in FDI inflow of over 5 thousand 8 hundred 56 crore rupees into telecom infrastructure which will spur economic growth.