Page 7 - India's Infrastructure

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

Over 800,000 vehicles ply on Mumbai's Atal Setu link in over one month

The much-hyped sea bridge has also become a popular spot for people to take selfies by stopping their vehicles on the bridge, prompting police to take action

Delhi HC reserves order in Supertech Chairman RK Arora default bail plea

The Delhi High Court on Wednesday reserved the order on the default bail plea moved by the Supertech Chairman RK Arora plea in a money laundering case

Kerala govt plans drive and charge infrastructure for electric vehicles

Pilot project to take shape in FY25; roads to have copper coils with receivers on vehicles

Hudco plans to raise up to Rs 23,000 crore to fund infra projects

It raised Rs 5,476 crore through medium-term loans, Rs 2,782 crore through short-term credit, and Rs 1,500 crore via taxable bonds in April-December 2023

PM GatiShakti: Five road, railway infra projects recommended for approval

Five infrastructure projects of roads and railways have been recommended for approval under the PM GatiShakti initiative, the commerce and industry ministry said on Friday. These projects were assessed in the 65th Network Planning Group (NPG) meeting. "The NPG examined the projects from the perspective of integrated planning based on the PM GatiShakti principles. The project details were examined based on the planning/mapping on PM GatiShakti National Master Plan (NMP)," it said. The projects which are evaluated include highway projects in Goa, Meghalaya and Assam; construction of rail-over-rail bulb line in Bihar; and urban metro transit projects in Bengaluru and Delhi/NCR. The inter-ministerial NPG meets every fortnight and appraises infra projects to ensure multi-modality, synchronisation of efforts and comprehensive development in and around the project location. The initiative was launched to develop an integrated infrastructure to reduce logistics costs. All logistics and ..

Alstom starts production of driverless trainsets for Chennai Metro Phase II

Smart mobility company has to deliver 36 trainsets, each comprising three cars

Lakshadweep tourism: Island to receive Rs 3,600 cr infrastructure upgrade

Infrastructure upgrade initiative to include port facilities, roads, and beachfront amenities across Lakshadweep islands to boost domestic tourism

L&T wins contract for Assam bridge, to boost link to textile hub Sualkuchi

The foundation stone for the key infrastructure project was laid during Prime Minister Narendra Modi's visit to Assam during the festival of Bihu last year

Those in power after Independence were ashamed of their own culture: PM

Prime Minister Narendra Modi on Sunday claimed that those in power after Independence could not understand the significance of places of worship and set a trend of being ashamed of their own culture for political reasons. Addressing a massive rally in Guwahati after unveiling projects worth Rs 11,600 crore, Modi said that no country can progress by erasing its past. "However the situation has changed in the last 10 years," he said. Modi said that the projects he unveiled will strengthen connectivity not only in the Northeast, but also the rest of South Asia. He said that peace has returned to Assam in the last 10 years and over 7,000 people have put down arms and returned to the mainstream. "A record number of tourists have visited the region in the past decade," he added.

PM Narendra Modi to unveil projects worth Rs 68,400 crore in Odisha

Prime Minister Narendra Modi will arrive in Odisha on Saturday afternoon to unveil projects worth Rs 68,400 crore in the state, including the new campus of IIM-Sambalpur, officials said. The prime minister will reach the Jharsuguda airport around 1 pm, and head to the IIM-Sambalpur campus where CM Naveen Patnaik, Governor Raghubar Das and Union Education Minister Dharmendra Pradhan will join him, they said. Besides the Rs 400-crore campus, Modi will also unveil infrastructure projects worth Rs 68,000 crore. These projects span sectors such as power, roads and railways. Modi will address a public meeting at Remed Ground around 3 pm, before leaving for Guwahati, officials said. Stringent security arrangements have been made for the PM's visit, they said.