Page 6 - India's Infrastructure

UNGA Prez Francis lauds digitalisation, infrastructure investment in India

UN General Assembly President Dennis Francis has lauded India's use of digitalisation that has helped achieve financial inclusion and poverty reduction, underlining that this gives the country a comparative advantage and its lessons can be shared with the global community. Let me say first of all that since I've been to India, every time I think of India, I think Incredible India'. And I mean this in all earnest .And I saw it when I was there. The specific example to which I can refer is India's use of digitalisation, Francis, President of the 78th session of the UN General Assembly, told PTI in an exclusive interview here. He referred to the country's tourism tagline of 'Incredible India.' Francis was in India from January 22-26 this year on an official visit, during which he held a bilateral meeting with External Affairs Minister S Jaishankar in New Delhi and also travelled to Jaipur and Mumbai. During the visit, his interactions with government officials, civil society members a

Indiabulls Real Estate to raise Rs 3,911 cr from Blackstone Group, others

Indiabulls Real Estate said its board has approved raising Rs 3,911 crore through the issuance of shares and warrants to investors, including the Blackstone Group and Embassy Group. Global investment firm Blackstone will invest Rs 1,235 crore, while the Bengaluru-based Embassy Group will infuse Rs 1,160 crore. After the conversion of the warrants, the Embassy Group will hold 18.7 per cent while Blackstone will own 12.4 per cent. In a regulatory filing on Friday, IBREL (Indiabulls Real Estate Ltd.) informed that the board has approved "fund-raise via preferential issue of equity shares and convertible warrants, on a private placement basis, for cash consideration, aggregating to approx. Rs 3,910.93 crore". The move is aimed at recapitalising its balance sheet and positioning the company for organic and inorganic growth purposes. These include capital expenditure for the completion of existing projects and new launches as well as proposed acquisitions, other working capital requirem

Lapataganj of dropped govt and private sector projects hits a high

The previous high of projects for which there is no information was in March 2019, an election year

Homes priced above Rs 1 cr corner highest share ever in total sales: Report

Those priced below Rs 50 lakh record dip in sales in January-March quarter: Knight Frank

Assam secured over Rs 13,000-crore investments in last 14 months: CM Sarma

Assam has secured investments to the tune of Rs 13,364 crore with employment generation for more than 17,000 people in the last 14 months, Chief Minister Himanta Biswa Sarma said. The investments have been committed through 21 proposals, approved by the state cabinet, under the Industrial and Investment Policy of Assam (IIPA), 2019. The IIPA was amended in 2023 to attract mega investments of Rs 100 crore and more, with permanent jobs for 200 or more, he said in a post on X on Friday. While MoUs for 14 of these proposals were signed earlier, seven agreements were inked on Friday, he said. "In January 2023, we announced a policy to customise incentives for mega investors. Today, 7 more firms committed to create 6,500 jobs through Rs 2,000 cr of investment," Sarma said. In last 14 months, through this policy, Assam has secured investments of Rs 13,364 crore and 17,700 jobs, the chief minister said. Among the companies that have entered into MoUs so far are PepsiCo India, Star Cement

Godrej Properties buys 3 acres in Hyderabad for Rs 1,300 cr housing project

Realty firm Godrej Properties Ltd on Thursday said it has bought around 3-acre land in Hyderabad to develop a housing project with an estimated revenue potential of Rs 1,300 crore. Last month, Godrej Properties forayed into the Hyderabad property market by purchasing 12.5-acre land for Rs 350 crore to develop a housing project having Rs 3,500 crore revenue potential. In a regulatory filing, the company said this is the second land acquisition in Hyderabad. The total development potential on this land is around 1.2 million (12 lakh) square feet of saleable area comprising primarily premium residential apartments. The company expects to generate revenue worth Rs 1,300 crore from this upcoming new project. Godrej Properties did not name the seller and also the deal value of this new land acquisition. Godrej Properties said that this strategic acquisition is in line with its strategy of developing high-quality residential projects across India's leading real estate markets. The land

Property leasing by luxury brands in India jumped 170% in 2023: Report

Consumer preference will 'reshape retail landscape' in the country, it says

PM inaugurates, lays foundation stone of Rs 85,000 cr railway projects

Prime Minister Narendra Modi on Tuesday inaugurated and laid the foundation stone of Rs 85,000 crore railway projects, including the launch of 10 new Vande Bharat trains. The PM launched the projects from Sabarmati area of Ahmedabad in Gujarat after visiting the Dedicated Freight Corridor's (DFC) Operation Control Centre here. He laid the foundation stone of railway workshops, loco sheds, pit lines/ coaching depots, Phaltan-Baramati new line; electric traction system upgradation work and dedicated to the nation two new sections of the Dedicated Freight Corridor between New Khurja to Sahnewal (401 Rkm) section of the eastern DFC and New Makarpura to New Gholvad section (244 Rkm) of the western DFC; western DFC's Operation Control Centre (OCC), Ahmedabad. The PM flagged off 10 new Vande Bharat trains between Ahmedabad-Mumbai Central, Secunderabad-Visakhapatnam, Mysuru-Dr MGR Central (Chennai), Patna- Lucknow, New Jalpaiguri-Patna, Puri-Visakhapatnam, Lucknow-Dehradun, Kalaburagi-Sir M

PM unveils projects worth Rs 55,600 cr in Northeast, including Sela tunnel

Prime Minister Narendra Modi on Saturday unveiled projects worth Rs 55,600 crore in the Northeast, including the strategic Sela tunnel which will provide all-weather connectivity to Tawang in Arunachal Pradesh. The PM unveiled the projects spread across Manipur, Meghalaya, Nagaland, Sikkim, Tripura and Arunachal Pradesh at a programme in Itanagar. The Sela tunnel, constructed at a cost of about Rs 825 crore, is an engineering marvel. It will provide all-weather connectivity to Tawang across Sela pass on the Balipara-Chariduar-Tawang Road in Arunachal Pradesh, a statement said. The project, the foundation stone of which was laid by PM Modi in February 2019, will not only provide a faster and more efficient transport route in the region but is of strategic importance to the country as it is located near the frontier with China. The PM inaugurated the Sela tunnel by flagging off an Arunachal Pradesh State Transport bus that went through it. In all, the PM unveiled development project

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Godrej Properties buys plots with Rs 20K cr revenue potential this fiscal

To expand business amid strong housing demand, realty firm Godrej Properties Ltd has acquired multiple land parcels so far this fiscal that have the potential to generate revenue of around Rs 20,000 crore. Godrej Properties has surpassed the guidance for the 2023-24 fiscal to achieve Rs 15,000 crore worth new business development, which means adding land parcels through outright purchases and partnerships with landowners. With the acquisition of two land parcels earlier this week, Godrej Properties Managing Director and CEO Gaurav Pandey said the company has already achieved the annual guidance of new business development of Rs 15,000 crore. "We added new projects worth Rs 8,425 crore in the first nine months of this fiscal," Pandey said. In the current quarter, the company has done two outright land purchases in Hyderabad and Noida, while entering into a joint venture in Bengaluru. These three new acquisitions will help generate cumulative revenue of around Rs 11,500 crore, takin

PM unveils projects worth Rs 7,200 cr in T'gana; highlights infra push

Prime Minister Narendra Modi will inaugurate and lay the foundation for development projects worth more than Rs 6,800 crore and also address a rally on Tuesday at Sangareddy, about 60 km from here. The projects are related to multiple key sectors such as road, rail, petroleum and natural gas, an official release had earlier said. Union Tourism Minister G Kishan Reddy yesterday told reporters that Modi, who stayed at Raj Bhavan here last night, will visit Sri Ujjaini Mahakali Temple here and offer prayers today morning. The Prime Minister will inaugurate the Civil Aviation Research Organisation (CARO) centre in Hyderabad which was set up at Begumpet Airport, Hyderabad by the Airports Authority of India to upgrade and enhance research and development (R&D) activities in the civil aviation sector. Built at a cost of more than Rs 350 crore, the state-of-art facility is compliant with 5-STAR-GRIHA Rating and Energy Conservation Building Code (ECBC) norms. Modi will also inaugurate and

NaBFID to sanction Rs 3 trn by March 2026 to support infra development

National Bank for Financing Infrastructure and Development (NaBFID), which supports the development of long-term non-recourse infrastructure financing, has set a target to sanction Rs 3 lakh crore by March 2026, the finance ministry said on Thursday. Finance and Corporate Affairs Minister Nirmala Sitharaman chaired a meeting to review the performance of the NaBFID and asked it to introduce a structured partial credit enhancement facility towards deepening bond markets, including for urban local bodies and municipalities. To date, NaBFID has made total sanctions of more than Rs 86,804 crore, with projects spread across the country and in diversified sub-sectors of infrastructure like roads, renewable power, ports, railways, and city gas distribution. Out of the Rs 86,804 crore, 50 per cent has been sanctioned with long tenure of 20 to 50 years. "NaBFID will sanction over Rs 3 lakh crore by March 2026," the ministry said in a release. It will continue its focus on infrastructure ...

Key infra sectors' growth slows to 15-month low of 3.6% in January

The growth of eight key infrastructure sectors slowed to a 15-month low of 3.6 per cent in January, on account of poor performance of sectors like refinery products, fertiliser, steel and electricity, according to the official data released on Thursday. The growth of eight core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 4.9 per cent in December. It was 9.7 per cent in January 2023. The previous low level of growth rate was recorded at 0.9 per cent in October 2022. Cumulatively also, the growth rate in the output of these sectors slowed down to 7.7 per cent as against 8.3 per cent in April-January 2022-23. The output growth of refinery products and fertiliser was in the negative zone. And the pace of increase in the output of coal, steel, and electricity decelerated during the month under review. However, crude oil, natural gas, and cement production recorded positive growth in January. The eight core sectors contr

PM Modi unveil projects worth Rs 41,000 crore for Indian Railways

The Amrit Bharat stations, spanning 27 states and Union Territories, will undergo redevelopment at a budget exceeding Rs 19,000 crore

431 infra projects hit by cost overrun of Rs 4.80 trn in Jan, says Mospi

As many as 431 infrastructure projects, each entailing an investment of Rs 150 crore or above, were hit by cost overrun of more than Rs 4.80 lakh crore in January 2024, an official report stated. According to Ministry of Statistics and Programme Implementation (MoSPI), which monitors infrastructure projects worth Rs 150 crore and above, out of 1,821 projects, 431 reported cost overrun and 780 projects were delayed. " Total original cost of implementation of the 1,821 projects was Rs 26,09,679.38 crore and their anticipated completion cost is likely to be Rs 30,90,135.99 crore, which reflects overall cost overruns of Rs 4,80,456.61 crore (18.41 per cent of original cost)," the ministry's latest report for January 2024 said. According to the report, the expenditure incurred on these projects till January 2024 is Rs 16,43,821.69 crore, which is 53.20 per cent of the anticipated cost of the projects. However, it stated that the number of delayed projects decreases to 583 if delay is ..

PM Modi launches Rs 32,000 cr worth of development projects in J-K

Prime Minister Narendra Modi on Tuesday launched multiple development projects, including for education, railway, aviation and road sectors, in Jammu and Kashmir worth over Rs 32,000 crore. From Jammu, the prime minister also launched or laid foundation stone of projects worth Rs 13,500 crore across the country. These projects include Indian Institutes of Technology (IITs), Indian Institutes of Management (IIMs) and central universities. Modi distributed appointment letters to about 1,500 newly recruited government employees of Jammu and Kashmir and also interacted with the beneficiaries of various schemes as part of the 'Viksit Bharat, Viksit Jammu' programme. Among the railway projects that Modi inaugurated are the railway line between Banihal-Khari-Sumber-Sangaldan (48 km) and the newly electrified Baramulla-Srinagar-Banihal-Sangaldan section (185.66 km). He flagged off the first electric train in the Valley and the train service between Sangaldan and Baramulla stations. The .

JICA signs Rs 2,800 cr loan pact for Chennai peripheral ring road project

The objective of the project is to meet the rapidly increasing traffic demand in the Chennai metropolitan area, ease congestion, reduce transportation time

Incentives for tech, infra needed to develop critical mineral sector: GTRI

Measures such as fiscal incentives, investments in technology and infrastructure, mining operations abroad and conducive regulatory environment are a must for developing India's critical mineral sector, a report by think tank GTRI said on Monday. The Global Trade Research Initiative (GTRI) said in its report that India is focusing on developing its critical mineral sector as it is vital for high-tech and renewable energy technologies. At present, India depends on imports, particularly from countries like China, Congo, Chile, Indonesia, South Africa, Argentina, Vietnam, US, Canada and Australia. Critical minerals such as lithium, chromium, cobalt, antimony, arsenic, barite, beryllium, bismuth, cesium, fluorspar, gallium, germanium, graphite, hafnium, and others are indispensable for modern technologies. They are integral to the manufacturing of various high-tech applications, including mobile phones, flat-screen monitors, wind turbines, electric vehicles (EVs), solar panels, drones,

The mystery of Rs 8-trn gap between dropped, completed projects in capex

Govt's contribution in the trend is now trending higher than the private sector's