Page 7 - Infrastructure Projects

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 ...

Rajnath to inaugurate 90 infra projects, attend symposium in Jammu today

Defence Minister Rajnath Singh will be on a day-long visit to Jammu on Tuesday where he will virtually inaugurate 90 projects of the BRO and attend the North Tech Symposium, an official said. The infrastructure projects of the Border Roads Organisation (BRO) include four airstrips and helipads that have been built along the northern and western borders, a defence spokesperson said. After his arrival in Jammu in morning, Singh will fly to Samba to inaugurate the state-of-the-art 422.9 metre Devak bridge on the Bishnah-Kaulpur-Phulpur Road. The bridge is a part of the 90 infrastructure projects built by BRO at a cost of Rs 2,941 crores, which includes 21 roads, 64 bridges, one tunnel, two airstrips, and two helipads, the official said. It is of strategic importance to defence forces and will boost the socio-economic development of the region. Other projects will be inaugurated virtually, the spokesperson said. The defence minister will later attend the ongoing North Tech Symposium a

Govt asks states to formulate logistics policy to promote ease of doing biz

The Centre has asked states to formulate logistics policy as it would help promote ease of doing business, the commerce and industry ministry said on Saturday. It was also suggested to the states for integrating quality data on the portal for the state master plan for wider adoption of PM GatiShakti initiative. The initiative helps in proper planning and implementation of infrastructure projects. These issues were discussed in a meeting called by the Department for Promotion of Industry and Internal Trade (DPIIT) on August 31 to promote wider adoption of PM GatiShakti National Master Plan (NMP). It was chaired by Special Secretary in the DPIIT Sumita Dawra. "The states/UTs are being encouraged to formulate State Logistics Policy (SLPs) aligned with National logistics Policy (NLP) to bring holistic focus on logistics in public policy at state level," the ministry said. So far, 22 states have notified their logistics policies. It said that the states/Union Territories were sensiti

AI-driven planning is Gati Shakti's new frontier, says DPIIT official

"Comprehensive examination and collaboration are crucial before moving forward. A systematic approach is being developed to involve the private sector in Gati Shakti"

SBI's infra bonds: Should retail investors opt for such investments?

At 7.54% per annum coupon rate, the SBI Infrastructure bond is not very attractive for retail investors, since many banks are offering similar interest rates on their 5-7 years long fixed deposits

As many as 393 infra projects show cost overruns of Rs 4.64 trn in June

As many as 393 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.64 lakh crore in June 2023, 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 1,643 projects, 393 reported cost overruns and as many as 815 projects were delayed. "Total original cost of implementation of the 1,643 projects was Rs 23,86,687.07 crore and their anticipated completion cost is likely to be Rs 28,51,556.84 crore, which reflects overall cost overruns of Rs 4,64,869.77 crore (19.48 per cent of original cost)," the ministry's latest report for June 2023 said. According to the report, the expenditure incurred on these projects till June 2023 was Rs 14,99,771.71 crore, 52.59 per cent of the anticipated cost of the projects. However, it stated that the number of delayed projects decreased to 594, if delay is calculat

408 infra projects show cost overruns of Rs 4.80 trillion in May: Report

As many as 408 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.80 lakh crore in May 2023, 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 1,681 projects, 408 reported cost overruns and as many as 814 projects were delayed. "Total original cost of implementation of the 1,681 projects was Rs 24,16,872.28 crore and their anticipated completion cost is likely to be Rs 28,96,947.15 crore, which reflects overall cost overruns of Rs 4,80,074.87 crore (19.86 per cent of original cost)," the ministry's latest report for May 2023 said. According to the report, the expenditure incurred on these projects till May 2023 was Rs 15,23,957.33 crore, which was 52.61 per cent of the anticipated cost of the projects. However, it stated that the number of delayed projects decreased to 607 if delay was .

Shah bats for infra development in border villages to counter terrorism

Shah visited the ancestral residence of Rabindranath Tagore at Jorasanko in North Kolkata and paid homage to the Nobel laureate Indian poet, writer, on the occasion of his birth anniversary

Road transport, highways sector has most delayed projects: Govt report

The road transport and highways sector has the maximum number of delayed projects at 407, followed by railways at 114 and the petroleum industry at 86, showed a government report. In the road transport and highways sector, 407 out of 717 projects are delayed. For railways, out of 173 projects, 114 are delayed, while in the petroleum sector, 86 out of 146 projects are running behind schedule, as per the latest flash report on infrastructure projects for February 2023. The Infrastructure and Project Monitoring Division (IPMD) is mandated to monitor central sector infrastructure projects costing Rs 150 crore and above based on the information provided on the Online Computerised Monitoring System (OCMS) by the project implementing agencies. The IPMD comes under the Ministry of Statistics and Programme Implementation. The report showed that the Muneerabad-Mahaboobnagar rail project is the most delayed. It is delayed by 276 months. The second-most delayed project is the ...

Country is witnessing a revolution in infrastructure projects: PM Modi

Prime Minister Narendra Modi on Saturday said the government's work culture, vision, speed and scale has resulted in a revolution in the infrastructure projects in the country

PM Modi to inaugurate slew of developmental projects in TN on April 8

Prime Minister Narendra Modi will inaugurate several infrastructure projects, including the state-of-the-art integrated terminal building at the Chennai airport, upon his arrival in the state on Saturday. Security has been beefed up across the city in view of the visit while motorists have been asked to plan ahead of their journey to reach their destination as elaborate traffic diversions have been made, police said. Following his arrival, Modi will open the new terminal, the first phase of which has been completed. It is expected to enhance the passenger traffic to 35 million per year. "This will be an important addition to Chennai's infrastructure. It will boost connectivity and also benefit the local economy," Modi had said in a tweet. According to Chennai airport officials, the new integrated terminal is spread across 2.20 lakh sq metres and would cater to the growing air traffic in Tamil Nadu. The terminal is also a reflection of the government's commitment towards providing

Japan commits Rs 7,084 crore for three infrastructure projects in India

Japan on Tuesday committed Rs 7,084.5 crore to India for three infrastructure projects, including Patna Metro Rail Construction Project and Rajasthan Water Sector Livelihood Improvement Project. Notes in this regard were exchanged between Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs and Japan Ambassador to India Suzuki Hiroshi, an official statement said. Japan would fund Patna Metro Rail Construction Project (I) of JPY 98.612 billion (about Rs 5,509 crore), Project for Forest and Biodiversity Conservation for Climate Change Response in West Bengal of JPY 9.308 billion (about Rs 520 crore) and Rajasthan Water Sector Livelihood Improvement Project (II) of JPY 18.894 billion (about Rs 1,055.53 crore). Patna Metro Rail Construction Project aims to cope with the increase of traffic demand in the capital city of Bihar by constructing the new metro corridor 1 & 2, thereby contributing to improvement of the urban environment and development of the economy as ..

346 infra projects show cost overruns of Rs 4.46 trillion, says report

As many as 346 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.46 lakh crore, as per an official report. According to Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,418 projects, 346 reported cost overruns and as many as 823 projects were delayed. " Total original cost of implementation of the 1,418 projects was Rs 20,38,026.75 crore and their anticipated completion cost is likely to be Rs 24,84,846.99 crore, which reflects overall cost overruns of Rs 4,46,820.24 crore (21.92 per cent of original cost)," the ministry's latest report for February 2023 said. According to the report, the expenditure incurred on these projects till February 2023 is Rs 13,62,707.98 crore, which is 54.84 per cent of the anticipated cost of the projects. However, the number of delayed projects decreases to 643 if delay is calculated on the basi

Aware of China funding of infra projects in countries in South Asia: Govt

He said India is an active economic partner of its neighbours and is involved in a large number of development projects in these countries

101 projects worth Rs 60,872 cr identified under ports and shipping

Total 101 projects in respect of Ports and Shipping have so far been identified under PM Gati Shakti initiative worth Rs 60,872 crore for implementation. Out of these, 13 projects worth Rs 4,423 cr