Page 5 - Infrastructure Projects

Adani Group's Ambuja Cements profit misses estimates on lower volumes

Ambuja's consolidated volumes increased 2.9% to 14.1 million metric tons in the October-December period, lower than the 5.5% growth estimated by Jefferies

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

As many as 431 infra projects show cost overrun of Rs 4.82 trillion in Dec

As many as 431 infrastructure projects, each entailing an investment of Rs 150 crore or more, were hit by cost overrun of more than Rs 4.82 lakh crore in December 2023, an official report stated. According to the Ministry of Statistics and Programme Implementation (MoSPI), which monitors infrastructure projects worth Rs 150 crore and above, out of 1,820 projects, 431 reported cost overrun and 848 projects were delayed. "Total original cost of implementation of the 1,820 projects was Rs 25,87,066.08 crore and their anticipated completion cost is likely to be Rs 30,69,595.88 crore, which reflects overall cost overruns of Rs 4,82,529.80 crore (18.65 per cent of original cost)," the ministry's latest report for December 2023 said. According to the report, the expenditure incurred on these projects till December 2023 is Rs 16,26,813.80 crore, which is 53 per cent of the anticipated cost of the projects. However, it stated that the number of delayed projects decreased to 638, if delay is

Greater Noida to soon ink 'Sister City' pact with US' Loudoun County

Greater Noida may soon enter into a 'Sister City' agreement with the US' Loudoun County, in a move that can open the way for large-scale investment, academic and cultural exchanges between them, officials said. A team of representatives from Loudoun County, in Virginia State of the US and some 70 km off Washington DC, was in Greater Noida on Tuesday. During the visit, the American delegation led by Buddy Rizer, executive director of the Department of Economic Development of Loudoun County, met with Greater Noida Industrial Development Authority (GNIDA) CEO N G Ravi Kumar and Additional CEO Medha Rupam. "During the meeting, the two sides held discussions to finalise the terms of agreement for the 'Sister City' pact," the GNIDA said in a statement. A couple of suggestions have been given by both the sides in the draft agreement, following which a memorandum of understanding will be made after taking approval from the government soon," the GNIDA said. According to officials, the Grea

A sense of collective achievement prevailed, says L&T's S V Desai

S V Desai, whole-time director & senior executive vice-president (civil infrastructure), L&T, talked about the challenges and learnings from executing India's longest sea bridge

LIVE: Retail inflation rises to 4-month high of 5.69% in December

Catch all the latest LIVE updates from across the globe here

With MTHL on the road, Mumbai may see projects worth Rs 84K cr begin ops

The 37,276 crore worth Mumbai Metro line-3, connects the north of the city (SEEPZ) to south (Cuffe Parade) and is expected to start operations in two phases, first in April and second in September

REC, Bank of Baroda sign MoU to finance power, infra and logistics projects

The collaboration aims to catalyse transformative projects that will positively impact communities and drive socio-economic progress

REC Ltd, RVNL sign Rs 35,000 crore MoU to finance infrastructure projects

REC will be financing diverse projects including logistics hubs, rail, road, port, and metro over the next 5 years

PM Modi inaugurates projects worth over Rs 20,000 cr in Tamil Nadu

Railway connectivity, roads, oil and gas, shipping works will create employment for thousands, he says

Vibrant Gujarat: MoUs worth Rs 24.7k cr signed ahead of investment summit

State-owned HUDCO on Wednesday said it has entered into a pact with the Gujarat government to invest up to Rs 14,500 crore for financing of housing and urban infrastructure projects. The state government intends for overall development of Gujarat by implementing various housing and infrastructure projects, according to a regulatory filing. Housing & Urban Development Corporation Ltd (HUDCO) has "executed a memorandum of understanding with the State Government of Gujarat for an investment up to Rs 14,500 crore for financing the housing and urban infrastructure projects in the state of Gujarat," the filing said. Being a techno-financial institution, HUDCO is in the business of providing financial assistance for housing and urban development projects in the country.

National Infrastructure Pipeline outlay stands at Rs 109 trillion: FinMin

National Infrastructure Pipeline (NIP) was launched with 6,835 projects and has expanded to capture over 9,288 projects with a total outlay of Rs 108.88 lakh crore between 2020-25, the finance ministry said on Thursday. "NIP comprises brownfield and greenfield infrastructure projects of above Rs 100 crore across both economic and social infrastructure," the Finance Ministry said in a post on X. NIP consists of projects implemented by all the states and Union Territories of India and 22 infrastructure ministries, it said. NIP is a first-of-its-kind initiative to provide world-class infrastructure across the country and improve the quality of life for all citizens. It will improve project preparation, attract investments (both domestic and foreign) into infrastructure, and will be crucial for attaining the target of becoming a USD 5 trillion economy by FY25. Mahila Samman Savings Certificate (MSSC) provides financial advantages to women and encourages them to take charge of their ..

PM in Surat, Varanasi on Dec 17, 18 to launch development projects

Prime Minister Narendra Modi will visit Surat and Varanasi on December 17 and 18 to launch several development initiatives. His office said Modi will inaugurate the new integrated terminal building at Surat airport and the Surat Diamond Bourse on Sunday before travelling to Varanasi to attend the Viksit Bharat Sankalp Yatra. On Sunday evening, he will inaugurate the Kashi Tamil Sangamam 2023 at the Namo ghat, the statement said. The next day, he will inaugurate the Swarved Mahamandir at a public function and also participate in the 'Viksit Bharat Sankalp Yatra'. The prime minister is also scheduled to inaugurate and lay the foundation stone of multiple development projects worth over Rs 19,150 crore in his parliamentary constituency. The PMO statement said the new integrated terminal building is equipped to handle 1,200 domestic passengers and 600 international passengers during peak hours and has provision for further increasing the peak hour capacity to 3,000 passengers with the

Govt using space tech to track multiple projects, boost development: BJP

The government has used space technology to boost development by tracking a host of projects, the BJP said on Friday, noting that ISRO has conducted twice as many satellite launches since 2014 than it did during the 10 years before that. India's space economy is now worth USD 8 billion and it employs 45,000 people, Union minister Hardeep Singh Puri said here. Puri also expressed confidence that the sector will reach USD 100 billion in the next 15 years and its global share will zoom to 10 per cent from the current two per cent. Speaking to reporters, Puri credited Prime Minister Narendra Modi's vision for using space technology to track a host of projects related to urban development, infra work and MNREGA and said it has boosted growth. The opening up of the space sector has led to 195 start-ups in the field, with Indian satellite manufacturing now worth USD 3.2 billion in one year, he said. India now ranks fifth among space-faring countries to have end-to-end technology, the ...

Shree Cement commissions high capacity kiln for Rs 3,500 cr Rajasthan plant

Shree Cement Limited on Thursday announced the commissioning of a kiln at its new integrated production facility in Nawalgarh, Rajasthan, with a rated capacity of 11,500 tonnes per day. This kiln stands among one of the highest capacity units in the world, and is empowered by cutting-edge technology, allowing utilisation of alternative fuels and ensuring optimal energy efficiency, the company said. The Rs 3,500 crore new cement plant has an annual production capacity of 3.5 million tonnes of cement annually. The plant also features a 33 MW waste heat recovery-based power plant, contributing to electricity generation without relying on fossil fuels. This innovative approach utilises waste gases from the clinkerisation process, aligning with the company's dedication to environmental responsibility. "In our pursuit to become an 80 million tonnes company by the year 2028, we are thrilled to announce the commissioning of the kiln at our new integrated facility in Nawalgarh, Rajasthan. T

Most infra projects already sweat human capital in multiple shifts

Industry executives note most infra projects already work more than single shift, and factors such as city limits, local conditions are deciding factors

PM Gati Shakti for ease of living

In the last one year, as envisaged by the Prime Minister, social sector ministries have also started using the Gati Shakti NMP in innovative ways

Vascon Engineers board approves plan to raise Rs 125 crore via QIPs

Vascon Engineers Ltd on Thursday said it is planing to raise Rs 125 crore through the Qualified Institutional Placement (QIP) route. A decision in this regard was taken at the meeting of its board of directors, Vascon Engineers Ltd said in a filing to the exchanges. The board has approved "raising of funds by way of issuance of such number of equity shares and/ or other eligible securities or any combination for an aggregate amount not exceeding Rs 125 crore or an equivalent amount thereof by way of qualified institutions placement," it said. The proposal is subject to the receipt of necessary regulatory/statutory approvals, as may be required, the company said. Further, the board also constituted a QIP committee and authorised it to decide the terms and conditions of the proposed fundraise for the issue and allotment of equity shares and/or other convertible securities.

Thailand-based MQDC plans to develop luxury housing projects in Delhi-NCR

Thailand-based realty firm MQDC, which is present in co-working space in India, plans to develop luxury housing projects in Delhi-NCR and is in talks with local builders for joint development. MQDC India, Indian arm of Thailand-based Magnolia Quality Development Corporation (MQDC), has one operational co-working facility in South Delhi. It is launching second co-working facility 'Whizdom Club India, at Golf Course Road, Gurugram, on Friday. "We plan to develop luxury housing projects in Delhi and Gurugram. We are in talks with local developers. We are evaluating few sites," MQDC India Country Director Chulamas Jitpatima (Amy) told reporters here. She hoped that the company would be able to announce its partnership early next year with local developer. Amy expects to launch its first residential project by 2025. MQDC is also inviting Indian investors to buy flats in its various properties at Bangkok. It is showcasing its properties to HNIs (High Networth Individuals) here this ...

Housing sales up 22%, new launches grow 17% in Jul-Sep across top 8 cities

Housing sales rose by 22 per cent and new supply by 17 per cent year-on-year across eight major cities during the July-September period on better consumer demand, according to real estate digital platform PropTiger.com. Housing brokerage platform PropTiger, which is owned by REA India, released its 'Real Insight Residential - July-September 2023' report on Thursday. REA India also owns Housing.com and Makaan.com. Sales of residential units increased to 1,01,220 units in the third quarter of this year from 83,220 units in the same period last year across eight major cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad, Pune, and Ahmedabad. All cities, except Chennai, registered a growth in sales, with Mumbai Metropolitan Region (MMR) and Pune accounting for nearly half of the total volume. New project launches rose 17 per cent to 1,23,080 units from 1,04,820 units during the period under review. "The housing markets in the top eight cities