Page 12 - India's Infrastructure

Under construction

Project delays must be avoided

Eight core sector industries post 3.6% growth in March; slowest in 5-month

The output of crude oil declined by 2.8 per cent, power by 1.8 per cent and cement by 0.8 per cent in March this year

Time and money: The impact of govt projects missing their deadline

Average delays of more than three years mean large cost overruns for the country

354 infra projects show cost overruns of Rs 4.55 trn, 821 projects delayed

As many as 354 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.55 lakh crore, as per an official report. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,449 projects, 354 reported cost overruns and as many as 821 projects were delayed. "Total original cost of implementation of the 1,449 projects was Rs 20,69,658.30 crore and their anticipated completion cost is likely to be Rs 25,25,348.87 crore, which reflects overall cost overruns of Rs 4,55,690.57 crore (22.02 per cent of original cost)," the ministry's latest report for March, 2023 said. According to the report, the expenditure incurred on these projects till March 2023, is Rs 13,90,736.58 crore, which is 55.07 per cent of the anticipated cost of the projects. However, the number of delayed projects decreased to 616, if delay is calculated on the basi

10 smart cities in UP get Rs 10,000 cr for completing infra projects

Projects worth over Rs 10,000 crore will become operational within the 10 smart cities of Uttar Pradesh in a few months

DMRC 'lowest bidder' to operate, maintain Mumbai Metro's Line 3: Officials

The Delhi Metro Rail Corporation has emerged as the "lowest bidder" to operate and maintain the 33.5-km Line 3 of the Mumbai Metro, officials said on Thursday. Mumbai Metro's proposed Line 3 will run from Aarey to Cuffe Parade, covering 27 stations. The process will pave the way for the Delhi Metro Rail Corporation (DMRC) to foray into a region much beyond the National Capital Region (NCR), if it gets the job. "The Mumbai Metro Line 3 is currently under construction under the MMRDA (Mumbai Metropolitan Region Development Authority) and is expected to be operationalised in parts from the end of this year onwards," the DMRC said in a statement. Delhi Metro has emerged as the "lowest bidder to operate and maintain the 33.5-km Line 3 of the Mumbai Metro, from Aarey to Cuffe Parade covering a total of 27 stations, from the south of the western metropolis to the north", it said. DMRC outbid Keolis, a reputable public transport operator from France with experience functioning in various

India's infrastructure sector growing at significant pace: Scindia

Union Minister Jyotiraditya M Scindia on Tuesday said the country's infrastructure sector is growing at a significant pace in areas such as roads, highways and civil aviation. Scindia, who is in charge of the ministries of civil aviation and steel, was speaking at the 8th National Leadership Conclave organised by the All India Management Association (AIMA) in the national capital. The government's thrust is on development of infrastructure and related sectors in the country. The PM Gati Shakti master plan is going to change the face of India's infrastructure, he said. "The infrastructure sector has had tremendous potential in driving the economic destiny of any country. If you look at the developed nations, their success has been driven by impetus on infrastructure. Therefore, there is the much needed impetus on infrastructure," he said. According to him, the country has made significant progress in the areas of roads, highways, railways and civil aviation, among other areas. When

Centre nudges state govts to speed up PM GatiShakti scheme adoption

The GatiShakti NMP was announced by Prime Minister Narendra Modi one-and-a-half years ago

PM Modi to inaugurate slew of developmental projects in TN on April 8

Prime Minister Narendra Modi will inaugurate several infrastructure projects, including the state-of-the-art integrated terminal building at the Chennai airport, upon his arrival in the state on Saturday. Security has been beefed up across the city in view of the visit while motorists have been asked to plan ahead of their journey to reach their destination as elaborate traffic diversions have been made, police said. Following his arrival, Modi will open the new terminal, the first phase of which has been completed. It is expected to enhance the passenger traffic to 35 million per year. "This will be an important addition to Chennai's infrastructure. It will boost connectivity and also benefit the local economy," Modi had said in a tweet. According to Chennai airport officials, the new integrated terminal is spread across 2.20 lakh sq metres and would cater to the growing air traffic in Tamil Nadu. The terminal is also a reflection of the government's commitment towards providing

Road developers' debt to spike, revenue growth to remain high: Report

Sizeable equity commitments in under-construction projects and rising working capital needs will increase the debt burden of road developers but revenue growth is set to remain high, driven by strong contract awards and execution in the next fiscal, according to a report. Besides, a high budgetary allocation to the sector will also help road developers, it added. With the prevailing low leverage levels, developers have the headroom to borrow more to fund new projects, which will keep their credit risk profiles stable, said a Crisil report, which also notes that asset monetisation will be crucial to rein in debt. The report is based on the analysis of 18 engineering, procurement and construction (EPC) players, constituting 70 per cent of the sectoral revenue. According to Mohit Makhija, a senior director at the agency, total equity commitment towards the under-construction public-private partnership (PPP) projects is estimated at over Rs 21,000 crore by fiscal 2025. The working cap

Moving ahead with Gati Shakti

Allowing the private sector even a limited access to the platform will make Gati Shakti universal in its appeal and effectiveness

J&K L-G lays foundation stone of 1st direct foreign investment project

J&K Lt. Governor Manoj Sinha laid the foundation stone of a mega-mall on Sunday in Sempora area of Srinagar district which is the first direct foreign investment project in the UT.

New payment mechanism of railways: 30 days max, else govt will pay interest

The step is expected to eliminate the "biggest risk" faced by contractors, meaning that railways will ensure that payments are made within the stipulated time, said the railway minister at an event

101 projects worth Rs 60,872 cr identified under ports and shipping

Total 101 projects in respect of Ports and Shipping have so far been identified under PM Gati Shakti initiative worth Rs 60,872 crore for implementation. Out of these, 13 projects worth Rs 4,423 cr

PM Modi inaugurates 118 Km long Bengaluru-Mysuru Expressway project

Prime Minister Narendra Modi on Sunday inaugurated the Bengaluru-Mysuru expressway at a public rally in the Mandya district of Karnataka

PM Narendra Modi to inaugurate Bengaluru-Mysuru Expressway project today

Prime Minister Narendra Modi is scheduled to visit Karnataka on Sunday to inaugurate the Bengaluru-Mysuru Expressway to the nation and will lay the foundation stone

Centre giving more thrust to infrastructure push along border: Arunachal CM

Arunachal Pradesh Chief Minister Pema Khandu Friday said the Central government is capable enough to tackle the border issue between India and China, and accordingly giving more thrust to infrastructure development. The process of building adequate infrastructure, particularly border connectivity, is being speeded up in the northeastern state. Work on the 2000-km-long Arunachal Frontier Highway has already started in certain sections and work is going on in full swing for construction of the Sela tunnel, located at a height of 13,700 feet. Responding to a question of Congress MLA Ninong Ering, the chief minister said that the Centre has increased the presence of army and para-military personnel on the border with China after the recent standoff between both neighbours. Referring to the recent face-off between Indian and Chinese soldiers at Yangtse in Tawang district of the state, Khandu said, India is not as before and the situation has changed after the BJP-led NDA came to power a

Suraksha Group's takeover of Jaypee Infratech gets NCLT approval

Suraksha Realty had made the winning bid of Rs 7,736 crore as against government-owned NBCC India's Rs 6,536 crore offer in June 2021

Upcoming retail trade policy to help brick and mortar traders: Centre

The Centre plans to come out with a retail trade policy which would provide more credit and better infrastructure to brick and mortar traders

Andhra Pradesh received Rs 13 trillion as investments: CM Jagan Mohan Reddy

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Friday said the state has received investment proposals worth Rs 13 lakh crore with an employment opportunity for six lakh people. Speaking at the inaugural session of the Global Investors Summit 2023 being held here, the Chief Minister said MoUs worth Rs 11.85 lakh crore will be signed today and the rest would be formalised on Saturday. He also said the investment proposals are from Reliance, Adani Group, Aditya Birla group, ReNew power, NTPC and Aurobindo Group among others. Reddy reiterated that Visakhapatnam would become the executive capital of Andhra Pradesh in the days to come and he will be moving over to the port city. "It is a proud moment to announce that the state has received 340 investment proposals with an investment of about Rs 13 lakh crore providing employment to almost six lakh people across 20 sectors," he said. He further said 2023 is an important year for India as the country is hosting the G20 summit unde