Page 3 - Infrastructure Projects

CM Nitish Kumar launches projects worth Rs 200 cr in East Champaran

Bihar Chief Minister Nitish Kumar on Tuesday inaugurated and laid foundation stones for a host of developmental projects worth Rs 201.12 crore in East Champaran district. Kumar, during the second day of his Pragati Yatra', visited Sundarpur village under the Kesaria assembly seat and virtually laid the foundation stones for the schemes. According to a statement issued by the Chief Minister's Office (CMO), He inaugurated the newly constructed building of a government school in Sundarpur. Kumar also handed over the management of a pond constructed under the Jal-Jeevan-Hariyali scheme to JEEViKA Didis' (women associated with self-help groups under the JEEViKA project). He distributed symbolic cheques of financial assistance of Rs 3.35 crore to 1,26,354 JEEViKA Didis'. The chief minister directed officials concerned for immediate construction of two bridges over the Dhanauti river in Majuraha and Budhi Gandak in Ibrahimpur area, respectively, in the district. Besides, he asked offici

Jobs, farm productivity, infra funds figure at PM's meeting with economists

Job creation, improving farm productivity, and mobilising public funds for infrastructure development were some of the issues that figured during the interaction between Prime Minister Narendra Modi and economists ahead of the 2025-26 Union Budget. The Prime Minister on Tuesday met eminent economists and sectoral experts at NITI Aayog to hear their views and suggestions for the upcoming Budget. Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2025-26 in the Lok Sabha on February 1, 2025. According to an official statement, the Prime Minister emphasised that Viksit Bharat can be achieved through a fundamental change in mindset, which is focused towards making India developed by 2047. The participants shared their views on several issues, including navigating challenges posed by global economic uncertainties and geopolitical tensions, strategies to enhance employment particularly among the youth, and create sustainable job opportunities across ...

Ashoka Buildcon to invest Rs 9,000 cr in green hydrogen plant in Bihar

Construction engineering company Ashoka Buildcon plans to invest Rs 9,000 crore in setting up a green hydrogen plant in Bihar, its COO-Renewable Energy Mayank Sharma said Friday. The company signed a memorandum of understanding with the state government, committing to investing in the plant, during the Bihar Business Connect 2024. The Maharashtra-based firm is in highway construction, power distribution and solar projects. Sharma said the company will set up a 1,250 MW solar project and use the clean electricity to produce green hydrogen by splitting water. "The first phase of the plant is being planned at Begusarai (in Bihar)," he said. Green hydrogen is the cleanest known source of energy, which produces just water from being burnt. Sharma said the first phase of the project will take 1.5-2 years to commission from the date of receiving all clearances. The second phase will follow thereafter. According to the latest presentation on the company website, Ashoka Buildcon had an

Core sector growth at 3-month high, but remains subdued at 3.1% in Oct

On the other hand, the output of crude oil (-4.8 per cent) and natural gas (-1.2 per cent) contracted during the month

This smallcap real estate stock has zoomed 85% within 2 months

Ajmera Realty & Infra India (ARIIL) hit a new high of Rs 1,120, gaining 6 per cent on the BSE in Thursday's intra-day trade on healthy outlook.

PM to launch metro line, lay foundation stones of infra projects in Maha

Prime Minister Narendra Modi will be on a visit to Maharashtra on Saturday, during which he will launch several development initiatives costing over Rs 56,000 crore, officials said. Modi will first visit Washim, where he will inaugurate the Banjara Virasat Museum, celebrating the rich heritage of the Banjara community, after offering prayers at Jagdamba Mata temple in Poharadevi and paying tribute at the 'samadhis' of Sant Sevalal Maharaj and Sant Ramrao Maharaj, an official release said. Later in the day, he will inaugurate and lay the foundation stone for various development projects worth over Rs 32,800 crore in Thane. In Mumbai, he will inaugurate the BKC to Aarey JVLR section of Mumbai Metro Line - 3 costing around Rs 14,120 crore, and will also take a ride in the metro between BKC and Santacruz stations. At 12 noon, Modi will launch various initiatives related to the agricultural and animal husbandry sector worth around Rs 23,300 crore in Washim. In line with his commitment

Kalpataru Projects International bags orders worth Rs 2,774 crore

Kalpataru Projects International on Thursday said the company and its arms secured orders worth Rs 2,774 crore. Kalpataru Projects International Ltd (KPIL), one of the largest Engineering & Construction companies listed in India along with its international subsidiaries have secured new orders/notification of awards of Rs 2,774 crore, a company statement said. These include new orders in the Transmission & Distribution (T&D) business in overseas markets and the EPC project for Extension of Airport from Airports Authority of India (AAI). The new orders also include Design & Build project for residential buildings in India. Manish Mohnot, MD & CEO, KPIL, said in the statement, "We are pleased with the continuous ordering momentum, especially in our T&D and Buildings and Factories (B&F) business." The order from the AAI will mark our entry into the growing domestic airport sector and further diversify our clientele, he added. The orders in the T&D and ...

EIL bags Rs 4,681 crore orders in FY25 so far, surpasses FY24 total

A 37% rise in the value of orders compared to the whole FY24, driven by new projects in niche chemicals and gas storage

PM Modi chairs PRAGATI meet, reviews projects worth more than Rs 76,500 cr

Prime Minister Narendra Modi on Wednesday chaired a PRAGATI meeting to review the progress of seven key projects, spread across 11 states and Union Territories, having a cumulative worth of around Rs 76,500 crore, his office said. Prime Minister Modi emphasized the fact that every official in the government, at Central or State level, must be sensitized about the fact that delay in projects not only leads to cost escalation but also deprives the public of the intended benefits of the project, the Prime Minister's Office (PMO) said in a statement. Prime Minister Modi earlier today chaired the meeting of the 44th edition of PRAGATI, the ICT-based multi-modal platform for Pro-Active Governance and Timely Implementation, involving the Centre and state governments. This was the first meeting in the third term. Seven significant projects, including two projects relating to road connectivity, two rail projects and one project each of the Coal, Power and Water Resources sectors, were review

RBI mulls softer rollout of infra financing norms amid lender pushback

The central bank faced criticism claiming that the new norms may slow down important govt projects like highways and power plants, which are critical for India's economic growth

What are investors betting on? Infrastructure leads thematic fund category

Infrastructure thematic funds are mutual fund schemes that primarily invest in companies operating in the infrastructure sector.

Group taxation regime for infrastructure

Tax consolidation for special purpose vehicles is desirable

Himachal CM Sukhu announces projects worth Rs 696 cr to boost tourism

Chief Minister Sukhvinder Singh Sukhu has said that 11 projects with an outlay of Rs 696.47 crore are underway to give a fillip to the tourism sector in Himachal Pradesh. Presiding over a meeting of the tourism department here last evening, he said tenders have been invited for all these projects, aiming to enhance the influx of tourists in the state, a statement issued here on Wednesday said. "It was essential to enhance the overall tourism experiences in the state and create new infrastructure as tourism is a key sector for our economy supporting the livelihood of thousands of families directly or indirectly," he said. As per the statement, the 11 projects include a convention centre at Dharamshala (Rs 161.91 crore); beautification of Palampur and Nagrota Bagwan (Rs 95.50 crore); wellness centre at Nadaun (Rs 91.42 crore); ice skating rink cum roller skating rink at Dharamshala (Rs 39.51 crore), among others. The chief minister directed the officers to expedite the projects and .

DMRC to prepare project report for Indore-Ujjain, Pithampur metro corridors

The estimated distance for these corridors is 84 km. Phase 1 of the Indore metro line is expected to begin operations later this year

Macrotech Developers Q1 results: Profit jumps to Rs 475 cr on higher income

Realty firm Macrotech Developers on Tuesday reported a 2.7-fold jump in its consolidated net profit to Rs 475.3 crore for the June 2024 quarter on higher income. Its net profit stood at Rs 178.4 crore in the year-ago period. Total income grew to Rs 2,918.3 crore during the April-June period of this fiscal year from Rs 1,671.8 crore in the corresponding period of the preceding year. Abhishek Lodha, MD & CEO of Macrotech Developers Ltd, said, "Q1, FY'25 was our best ever 1st quarter with Rs 4,030 crore of pre-sales our 2nd consecutive quarter of over Rs 4,000 crore pre-sales. The icing on the cake is that these strong pre-sales have come alongside robust embedded EBITDA margins of 33 per cent." "Delivery of strong pre-sales from a diverse portfolio of projects with strong margins showcases the predictability and consistency of our business model," he added. Lodha highlighted that the company's pre-sales in Pune stood at more than Rs 1,000 crore in Q1 (more than 50 per cent of its .

Research, infra allocation will boost innovation in steel sector: ISA

The increased funding for R&D announced in the Budget and the support extended to startups and MSMEs will foster innovation in steel manufacturing, the apex industry association said on Wednesday. Further, the allocation of Rs 11.11 lakh crore is set to enhance national infrastructure, create millions of jobs, and directly benefit the steel industry, the Indian Steel Association (ISA) said in a statement. In her Budget speech on Tuesday, Finance Minister Nirmala Sitharaman announced a slew of measures for sectors, including infrastructure, manufacturing, healthcare, education, startups, and green energy, among others. The Budget's strong emphasis on roads, railways, ports, and urban development will not only generate employment but also improve overall productivity. The increased funding for R&D and the support extended to startups and MSMEs will foster innovation in steel manufacturing, the ISA said. Jindal Steel and Power Ltd (JSPL) Chairman Naveen Jindal said, "The ...

Budget 2024 Updates: Finance Minister Nirmala Sitharaman to present the Union Budget on Tuesday

Union Budget 2024: As Finance Minister Nirmala Sitharaman presents the Union Budget on Tuesday, markets expect tax cuts, infra spending, and a boost to rural demand. Stay with us for all updates

China's June new home prices rise at slowest pace in five months: Survey

The value of new home sales at China's top 100 real estate companies slid 41.6% in January-June from the same period a year ago

Budget 2024: Will recent infrastructure failures attract prompt actions?

Several cases have raised concerns about ongoing roadway projects in India, highlighting frequent delays in their completion

Budget 2024-25 to focus on infra expansion, fiscal consolidation: EY India

EY India said India's economy has shown 'resilience' with GDP expanding by 8.2 per cent in 2023-24 after 9.7 per cent and 7 per cent in the previous two years