Page 2 - Indian Infrastructure

NBCC gets Rs 70 cr contract from Grid-India for interior works in office

State-owned NBCC (India) Ltd has bagged a Rs 70 crore project from Grid Controller of India for executing interior works in new corporate office in the national capital. In a statement, NBCC said it has inked a memorandum of understanding with Grid Controller of India Ltd (Grid-India) for execution of interior, fit outs and other associated infrastructure works for their new corporate office at Ayurvigyan Nagar, New Delhi. "The tentative value of works to be executed under this MoU is approximately Rs 70 crore," it added. The MoU was signed by Alok Kumar, Senior General Manager, Grid-India and Mudit Bhatnagar, CGM (Engg), NBCC in the presence of S R Narasimhan, CMD, Grid-India; K P Mahadevaswamy, CMD, NBCC; B K Sokhey, Director (Finance), NBCC; Saleem Ahmad, Director (Projects), NBCC and other senior officials from both organizations. Earlier, Grid-India, which is responsible for National Load Dispatch, had purchased this new office of around 61,000 sq ft from NBCC at approximatel

448 infra projects hit by cost overrun of over Rs 5.55 trn in April

As many as 448 infrastructure projects, each entailing an investment of Rs 150 crore or above, were hit by a cost overrun of more than Rs 5.55 lakh crore in April 2024, according to an official report. According to the Ministry of Statistics and Programme Implementation (MoSPI), which monitors infrastructure projects worth Rs 150 crore and above, out of 1,838 projects, 448 reported cost overruns and 792 projects were delayed. The total original cost of implementation of the 1,838 projects was Rs 27,64,246.50 crore, and their anticipated completion cost is likely to be Rs 33,19,601.84 crore, which reflects an overall cost overrun of over Rs 5,55,355.34 (20.09 per cent of original cost), the ministry's latest report for April 2024 showed. According to the report, the expenditure incurred on these projects till April 2024 is Rs 1,692,997.5 crore crore, which is 51 per cent of the anticipated cost of the projects. However, the number of delayed projects decreased to 514 if the delay is

Govt focus on infra to nurture sustained revival in investment: RBI report

The government's focus on infrastructure development, coupled with buoyant business optimism, could nurture a sustained revival in the investment cycle, according to a Reserve Bank report. According to the RBI's Monetary Policy Report- April 2024, domestic economic activity, backed by strong fundamentals, remained robust in the first half of 2023-24, weathering challenges from muted global demand. The report further said that while the fixed investment and the lower drag from net external demand propelled real GDP growth, private consumption received support from steady urban demand. On the supply side, it added, manufacturing activity strengthened further, benefiting from lower input costs and the improvement in global supply chains. Construction activity remained firm on the back of buoyant housing demand and the government's thrust on infrastructure. "Going ahead, private consumption will get support from improved prospects for rural demand and rising consumer confidence. "The

India a significant player in shaping global 6G standards: Ericsson exec

She says that fixed wireless access is paving the way for new revenue streams and monetisation in 5G for communication service partners in India

Business Standard Manthan: India's luxury landscape brimming with potential

It takes time to establish a brand in this space. It needs support in the form of infrastructure and services. Is India keeping pace with its demands?

PM Modi unveils development projects worth Rs 17,000 crore in Rajasthan

Ahead of the Lok Sabha 2024 elections, PM Modi shares development plans for projects spanning roads, railways, solar energy, and more aimed at transforming Rajasthan's infrastructure

Budget 2024: PM GatiShakti to be utilised for 3 major railway corridors

PM GatiShakti aims boost multimodal connectivity while moving towards logistics efficiency and reducing carbon footprint in rail movement

Budget focus on infra, connectivity to help real estate growth: Experts

The Interim Union Budget 2024-25 also focused on women's empowerment through housing facilities under the PM Awas Yojna scheme

Relaxation in development rules can't be allowed public safety is affected

Relaxation of development rules cannot be permitted if it adversely affects public safety, the Bombay High Court has said while ordering the removal of seven mechanised cantilever car parking spaces (stack parking) constructed in a residential building here. A division bench of Justices Gautam Patel and Kamal Khata noted that the stack parking system in the premises of the housing society in Borivali completely undermined the fire safety and public safety not only of members of the society but also of children, senior citizens, and perhaps even passersby. The order dated January 18 was made available on Tuesday. The bench noted that no fire tender or ambulance can go past the stack parking in case of emergencies in the society. The court passed the order in a petition filed by Rahul Jain, an ophthalmologist, challenging the decision to set up seven mechanised cantilever (stack) car parking spaces at his housing society in the western suburb of Borivali, as it was blocking the entra

Ram temple event: Ayodhya gripped by religious fervor, festive atmosphere

Invitees to the "Pran Pratishtha" consecration ceremony at the Ram temple started arriving Sunday in Ayodhya -- once a sleepy town now resplendent with new infrastructure and gripped by heightened religious fervour on the eve of a seminal event in India's political and religious history. The town, about 140 km west of Lucknow, was bedecked with multi-coloured flowers as recordings of 'Ram dhun' played from loudspeakers and townsfolk dressed as Lord Ram, Sita, Lakshman and Hanuman paraded down the streets followed by delirious devotees, and news camera crews. "Ayodhya Ram maye ho gayi hai (Ayodhya is immersed in devotion of Lord Ram)," said Shailendra Gupta, who runs a fabric store on Ram Path, the main street of the town that runs past the Ram temple. "And tomorrow is a day when Hindus across the world will rejoice." Skittish policemen kept order, urging cars to stay mobile. But they could only honk repeatedly to part the sea of pilgrims on Ram Path, many with "Jai Shri Ram" painted

PM Narendra Modi to inaugurate infra boost at Cochin Shipyard on Wednesday

New dry dock and International Ship Repair Facility for CSL

$2 bn Atal Setu to boost connectivity with Mumbai amid India's infra push

The 21.8 kilometer bridge, India's longest, will also ease access to the satellite city of Navi Mumbai, where a new airport is under construction by the Adani Group

Airport to new resorts, Lakshadweep tourism is in for an upgrade: Details

Lakshadweep tourism: Some of the key infrastructure development projects lined up in Lakshadweep include an airport upgrade, resorts, and improved utility services among others

West Bengal government plans dedicated tea park on Kolkata port land

The land requirement for the project is about 10-12 acres. The SMPK would hand over the lease and the infrastructure would be developed by the state government

Which sector should you bet on? Infra- linked sectors top Crisil upgrades

Infrastructure has benefited not just from high budgetary allocation, but also from better risk sharing among stakeholders and acceptance of investment vehicles such as InvITs, or infrastructure inves

Being people-centric: Indian govts no slouches when it comes to spending

Percentages can mislead: A higher percentage of a lower GDP per head can translate into less absolute spending per head than a lower percentage of a much greater GDP per capita, notes T N Ninan

Dholera SIR all ready to kickstart its plug-and-play infrastructure

Despite setbacks, it is offering attractive incentives to woo companies

Railways bolster network under Gati Shakti; tracks, freight goals in sight

Railways rides full steam on Gati ShaktiFrom rail tracks to freight traffic, the goal is to scale up across the network, write Dhruvaksh Saha & Shine Jacob

Cost overruns ebb, yet delays persist in half of major infra projects

Key hurdles: Land acquisition, technical approval, green go-ahead

Singapore Exchange to focus on risk-hedging products like Indian infra, ESG

The Singapore Exchange (SGX Group) plans to focus on risk-hedging products related to Indian infrastructure development as well as Environmental, Social and Governance (ESG) initiatives, as it aims to expand its footprint in metals and minerals such as green steel and lithium. William Chin, Commodities Head at SGX Group, pointed out the close relationship SGX Group has built with the financial and business community in India in the past decades and the importance of collaboration with partners and stakeholders to develop solutions to serve participants in both markets. Risk hedging products related to the Indian infrastructure development, green initiatives, ESG as well as new energy minerals and metals are some of the areas SGX Group wants to focus on, Chin said. "We are expanding our footprint in metals and minerals such as green steel and lithium," said Chin, noting the surging demand from the massive infrastructure development, industrial production and renewable energy-based ..