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Highway Project
Highway Infrastructure Ltd, which has reported a multi-fold rise in the September quarter net profit to Rs 9.7 crore, expects to execute Rs 150-200 crore worth of EPC projects and is actively bidding for new projects of around Rs 250 crore, a top company official said on Monday. The company plans to execute Rs 150Rs 200 crore worth of EPC projects over the next two years and is actively bidding for new projects worth approximately Rs. 250 crores, Arun Kumar Jain, Managing Director, Highway Infrastructure Ltd said. The September quarter witnessed a robust influx of new orders, including the expansion of toll operations with projects at Kiratpur and Muzaina Fee Plazas in Uttar Pradesh, a Greenfield Expressway in Rajasthan, and Chotiya Fee Plaza in Chhattisgarh, Jain said. The company achieved its highest-ever order book of Rs 775 crore, which provides strong revenue visibility, Jain said. The infrastructure development and management company, which has a presence in tollway collectio
Yedeshi Aurangabad Tollway Ltd (YATL), a special purpose vehicle of IRB Infrastructure Trust, has won an arbitration award of Rs 1,720 crore for a highway project, a statement said on Sunday. The YATL had initiated arbitration proceedings against the National Highways Authority of India (NHAI) after the authority disputed the company's claim for the extension of the concession period by 870 days and compensation of Rs 1,751 crore, the statement said. IRB Infrastructure Developers Ltd is the sponsor of IRB Infrastructure Trust. IRB was the EPC contractor for YATL and continues to be the project manager for YATL. The arbitration was based on the compensation payable to the IRB towards time and cost overrun suffered during the construction period on account of delays attributable to the NHAI and certain Force Majeure events, it added. After thoroughly hearing both sides, the statement said the Arbitration Tribunal has directed NHAI to pay compensation of Rs 1,720 crore including Inter
Maharashtra Chief Minister Eknath Shinde on Tuesday announced a Rs 3 lakh compensation each to the kin of persons who were killed when a huge advertising hoarding collapsed on them in Pimpri-Chinchwad in Pune district, while a case of culpable homicide was lodged by the police in connection with the incident. Five persons, including four women, were killed and three others injured on Monday evening when an iron hoarding crashed on them due to strong winds on a service road in Pimpri-Chinchwad, an industrial town. Shinde announced a compensation of Rs 3 lakh each to the kin of the deceased, said an official statement here. Meanwhile, the Pimpri-Chinchwad police have registered an offence against three people -- the owner of the land where the hoarding was erected, its manufacturer and the person who hired the structure -- and also the firm whose advertisement was displayed on the board. The offence was registered under section 304 (punishment culpable homicide not amounting to murd
Close on the heels of the Joshimath crisis, the Centre has issued a standard operating procedure asking agencies to mandatorily implement environmental safeguards in all roads and highway projects falling within 100 km of the International Border or the Line of Control. The standard operating procedure (SOP) issued by the Union environment ministry on February 6 stresses on mandatory disaster management plans, risk assessment and eco-fragility studies and precautions during tunnelling. The guidelines come seven months after the ministry waived the requirement for environmental clearance for highway projects up to 100 km of the International Border (IB) or the Line of Control (LoC). "The guidelines are to be followed for all roads/highway projects falling within 100 km from the International Border/Line of Control for sustainable environmental safeguards. "Further, the exemption of prior EC (environmental clearance) for all highway projects up to 100 km from the LoC or border does n