Page 6 - Infrastructure Projects

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

Development of infra, transformation of Chennai under Smart City mission

Pedestrian-friendly roads, smart classes, parks for disabled children, cycling tracks, an intelligent traffic system and rejuvenating water bodies are some of the projects undertaken by authorities in Chennai to transform it under the Smart Cities Mission, according to officials. A suspension bridge with a glass floor over the Villivakkam lake is also among such projects. As part of a pilot project, students of a school run by the Greater Chennai Corporation (GCC) in the Kottur area have been provided tablets, through which they are taught by their teachers, an official said. If the idea is successful, it will be implemented in other schools as well. Tamil Nadu Additional Chief Secretary and GCC Commissioner J Radhakrishnan said the Smart Cities Mission (SCM) has evoked a lot of enthusiasm among people and that is why the participation is high. The commissioner said that under the mission, Chennai has been doing a number of activities. "Specifically, we have created a command and

Municipalities can look at escrow account structure to garner funds: Buch

Markets regulator Sebi's chief Madhabi Puri Buch on Wednesday said municipal authorities can look at having specific escrow accounts to garner funds for various urban infrastructure projects. At an event in the national capital, she said there are a good number of investors who are waiting to invest in urban infrastructure projects. She said that one thing that can help in garnering funds is credit ratings. Generally, an entity with a higher credit rating will be able to raise funds more easily compared to those having less credit worthiness. "Now, the question is to get credit rating. The beautiful part (of) what we have learnt over the last few years' issuances that we have had is (the) structure of creating escrow accounts and therefore, ring fencing certain cash flows. It has really created a fantastic structure in which investors have a lot of faith," the Sebi Chairperson said. Such an escrow account structure will give investors an understanding of "what is outside the ring

Rs 8.45 trillion & rising: Orders flood major capital goods firms

"This intuitively looks like an all-time high factoring in inflation," said Anupama Arora, a senior independent analyst who tracks the capital goods sector

Macrotech to invest Rs 800 cr to construct 2 housing projects in Bengaluru

Macrotech Developers will invest about Rs 800 crore to construct two housing projects in Bengaluru where it has entered to expand business amid strong demand, its MD & CEO Abhishek Lodha said. Macrotech Developers, which markets its properties under Lodha brand, has a significant presence in Mumbai Metropolitan Region (MMR) and Pune. In June last year, the company had announced its entry in the Bengaluru market by forming a joint venture to develop its first housing project. Later, it added one more housing project in the IT city. Macrotech Developers this month launched its first residential project in Bengaluru. "We are targeting to launch the second project in the fourth quarter of this fiscal. It may slip to the first quarter of the next financial year," Lodha told PTI. Asked about construction cost of these two projects, he said it is estimated to be Rs 800 crore. The gross development value or sales value is expected to be around Rs 2,500 crore from these two projects, Lodh

Now, 10-15 years of experience a must for NHAI's contractor staff

This decision comes after the ministry faced criticism over the quality of highways, especially in sensitive areas like the hills

Around 417 infra projects show cost overruns of Rs 4.77 trn in Sep: Report

As many as 417 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.77 lakh crore in September this year, an official report said. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,763 projects, 417 reported cost overruns and as many as 842 projects were delayed. "Total original cost of implementation of the 1,763 projects was Rs 24,86,402.70 crore and their anticipated completion cost is likely to be Rs 29,64,345.13 crore, which reflects overall cost overruns of Rs 4,77,942.43 crore (19.22 per cent of original cost)," the ministry's latest report for September 2023 said. According to the report, the expenditure incurred on these projects till September 2023 is Rs 15,44,600.67 crore, which is 52.11 per cent of the anticipated cost of the projects. However, it stated that the number of delayed projects decreased

India again opposes China's multi-billion-dollar infrastructure project BRI

India on Thursday once again refused to endorse China's ambitious Belt and Road Initiative, becoming the only country in the Shanghai Cooperation Organisation not to support the multi-billion-dollar infrastructure project. A Joint communique at the end of the 22nd meeting of the Heads of Government Council of the SCO here said that Iran, Kazakhstan, Kyrgyz Republic, Pakistan, Russia, Tajikistan and Uzbekistan reaffirmed their support for China's Belt and Road Initiative (BRI) - the pet project of Chinese President Xi Jinping. It said that they noted ongoing work to jointly implement this project, including efforts to align the development of the Eurasian Economic Union and the Belt and Road Initiative. During the SCO summit in July hosted by New Delhi, India did not endorse the BRI while other members supported the project. India has protested to China over the USD 60 billion China-Pakistan Economic Corridor - the flagship project of the BRI - as it is being laid through the ...

PM Gati Shakti: 4 infra projects worth Rs 19,520 cr put up for approval

Four infrastructure projects of roads and railways worth Rs 19,520.77 crore have been recommended for approval under the PM Gati Shakti initiative, an official statement said on Wednesday. This takes the total number of projects assessed by Network Planning Group (NPG) to 115 with a total value of about Rs 11.70 lakh crore, since the launch of PM Gati Shakti, it said. These four projects were assessed in the 57th NPG meeting on October 17. "NPG assessed four projects including three projects of the Ministry of Road Transport and Highways and one project of the Ministry of Railways, with the total project cost of Rs 19,520.77 crore," the commerce and industry ministry said. 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 ...

Global infra faces losses worth $300 bn due to climate change: Report

The report said the annual investment required to fund the infrastructure deficit, achieve the sustainable development goals, and strengthen resilience by 2050 is about to $9.2 trillion

Discoms propose asset monetisation to charge up working capital needs

The move comes at a time when states are facing record power demand

As many as 412 infra projects show cost overruns of Rs 4.77 trn in August

As many as 412 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.77 lakh crore in August this year, an official report said. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,762 projects, 412 reported cost overruns and as many as 830 projects were delayed. "The total original cost of implementation of the 1,762 projects was Rs 25,01,400.62 crore and their anticipated completion cost is likely to be Rs 29,78,681.31 crore, which reflects overall cost overruns of Rs 4,77,280.69 crore (19.08 per cent of original cost)," the ministry's latest report for August 2023 said. According to the report, the expenditure incurred on these projects till August 2023, is Rs 15,57,188.10 crore, which is 52.28 per cent of the anticipated cost of the projects. However, it stated that the number of delayed projects decreased to 6

Samakhiyali Tollway to bring highway project in Gujarat at Rs 2,100 cr: IRB

Samakhiyali Tollway Private Limited, a special purpose vehicle of IRB Infrastructure Developers, will execute the Samakhiyali-Santalpur highway project in Gujarat with an outlay of Rs 2,092 crore, according to a statement on Thursday. The project is to be executed on Build Operate and Transfer (BOT) mode, IRB Infrastructure Developers (IRB) said in the statement. "Samakhiyali Tollway Private Limited has successfully achieved financial closure for its Samakhiyali Santalpur BOT highway project in Gujarat. The SPV is to execute the project with a cost outlay of Rs 2,092 crore... through IRB Infrastructure Trust," it said. The consortium of lenders has extended debt support of Rs 1,446 crore for the project while the remaining Rs 646 crore will be in the form of equity contributions and internal accruals from the concessionaire, the company added. Virendra D Mhaiskar, the company's Chairman & Managing Director, said, "After successful commencement of the Hyderabad Outer Ring Road ...