Page 3 - Infrastructure Sector

Smart metering infrastructure catches pace as states award mega tenders

Smart meter tenders have gained momentum in states, thanks to the new power distribution reforms scheme of the Centre

Core sector output slows to a four-month low of 8.1% in September

Experts say pickup in rainfall expectedly flattened the core sector expansion

JSW Infra extends gains after strong listing; zooms 41% over issue price

Moody's Investors Service, on Tuesday, upgraded JSW Infra corporate family rating (CFR) and senior secured bond rating to Ba1 from Ba2, and changed the outlook to stable from positive

Key infrastructure sector growth rises to 8% in July 2023: Govt data

Growth of eight key infrastructure sectors rose to 8 per cent in July 2023 compared to 4.8 per cent in the same month last year on expansion in production of coal, crude oil, and natural gas, according to the official data released on Thursday. Production of steel, cement and electricity also grew in July, the data showed. However, the core sector growth was lower in July compared to the previous month when it was 8.3 per cent, the Commerce and Industry Ministry data showed. The output growth of the eight sectors was also lower at 6.4 per cent in April-July 2023-24 against 11.5 per cent in the year-ago period.

As many as 388 infra projects show cost overruns of Rs 4.65 trn in July

As many as 388 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.65 lakh crore in July 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 1,646 projects, 388 reported cost overruns and as many as 809 projects were delayed. "Total original cost of implementation of the 1,646 projects was Rs 23,92,837.89 crore and their anticipated completion cost is likely to be Rs 28,58,394.39 crore, which reflects overall cost overruns of Rs 4,65,556.50 crore (19.46 per cent of original cost)," the ministry's latest report for July 2023 said. According to the report, the expenditure incurred on these projects till July 2023 was Rs 15,21,550.38 crore, which was 53.23 per cent of the anticipated cost of the projects. However, it stated that the number of delayed projects decreases to 602 if delay is

Pace of lending to infrastructure sector tumbles sharply to 1.8% in May

The share of power sector loans is around half of the bank's infrastructure loan portfolio of Rs 12.22 trillion as of May 2023

India's key infrastructure sectors' growth slows down to 4.3% in May

The growth of eight key infrastructure sectors slowed down to 4.3 per cent in May 2023 due to a decline in the production of crude oil, natural gas, and electricity. The core sector growth was 19.3 per cent in May 2022 while in April 2023 the key infra sectors recorded a growth rate of 4.3 per cent. During April-May this fiscal, the output growth of these eight sectors slowed down to 4.3 per cent as against 14.3 per cent in the year-ago period.

Centre's Svamitva scheme spawns infrastructure for accurate map making

The concluding part of the series on Svamitva looks at CORS, a network of GPS-enabled stations for creating maps in quick time

National Investment & Infrastructure Fund in talks to raise $244 mn

Infrastructure investment trusts, known as InvIT for short, are like mutual funds and allow pooling of assets for financing projects and can help make up the shortfall in investment

Key infrastructure sector growth slows down to 6-month low of 3.5% in April

The production growth of eight key infrastructure sectors slowed down to a six-month low of 3.5 per cent in April 2023 due to a decline in the output of crude oil, natural gas, refinery products and electricity. The core sector growth was 9.5 per cent in April 2022 while in March 2023 the key infra sectors recorded a growth rate of 3.6 per cent. The growth rate in April 2023 is the lowest since October 2022 when the sectors expanded by 0.7 per cent. Coal production growth declined to 9 per cent in April this year, according to the official data released on Wednesday. Fertiliser production soared by 23.5 per cent, steel by 12.1 per cent and cement output by 11.6 per cent in April, the data showed.

Union Cabinet approves construction of Shinkun La tunnel in Ladakh

The Union Cabinet on Wednesday gave its nod for the construction of the 4.1-km Shinkun La tunnel on the Nimu-Padam-Darcha road link to provide all-weather connectivity to the border areas of Ladakh. Providing details of the cabinet decision, Union minister Anurag Thakur said the tunnel will be completed by December 2025 at a cost of Rs 1,681 crore. The length of the tunnel will be 4.1 km. An approach will also be built by December 2025. The Shinkun La tunnel will provide all-weather road connectivity to Ladakh and this will be the shortest route to the border areas of the Union territory, the minister said. "The Cabinet Committee on Security today approved the Shinku La tunnel for Ladakh area which will provide all-weather connectivity to the Ladakh region with the entire country," the minister said. "This (project) is also very important as far as the security and safety of the country is concerned.... It will also help in the movement of our security forces in that region," Thak

Complete work with transparency, speed, foresight: CM Dhami in Uttarakhand

The Chief Minister instructed to cross-verify the newly made ration cards in a proper way and to make those who are really entitled according to the standard

Construction & infra firms among biggest wealth destroyers in past 20 years

They first reported a surge in stock prices and then all went downhill

Budget 2023 to increase capex for infra projects for growth: Experts

From giving a boost to capex spending for the infrastructure sector to focusing on urban development schemes, here are the expectations of the experts for infrastructure sector from Union Budget 2023

Time to press accelerator with higher infra spend, inviting global capital

It's a different equation that markets where the money went to, did not perform and one saw FII money flowing into India once again in the fourth quarter of 2022

343 infrastructure projects show cost overruns of Rs 4.5 lakh crore

As many as 343 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.5 lakh crore, as per an official report. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects of Rs 150 crore and above, out of 1,438 projects, 343 reported cost overruns and as many as 835 projects were delayed. "Total original cost of implementation of the 1438 projects was Rs 20,35,794.75 crore and their anticipated completion cost is likely to be Rs 24,86,069.52 crore, which reflects overall cost overruns of Rs 4,50,274.77 crore (22.12% of original cost)," the ministry's latest report for December 2022 said. According to the report, expenditure incurred on these projects till December 2022 was Rs 13,45,794.16 crore, or 54.13 per cent of the anticipated cost of the projects. However, the number of delayed projects decreases to 673 if delay is calculated on the basis of the latest ...

Share buyback and revamp of disclosure norms on Sebi board's agenda

New framework proposes enhancing amount companies can repurchase vis-a-vis free reserves

364 infrastructure projects show cost overruns of Rs 4.52 trillion: Report

As many as 364 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.52 lakh crore, as per an official report. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects of Rs 150 crore and above, out of 1,476 projects, 364 reported cost overruns and as many as 756 projects were delayed. "Total original cost of implementation of the 1476 projects was Rs 20,84,124.75 crore and their anticipated completion cost is likely to be Rs 25,36,179.03 crore, which reflects overall cost overruns of Rs 4,52,054.28 crore (21.69% of original cost)," the ministry's latest report for November 2022 said. According to the report, the expenditure incurred on these projects till November 2022 was Rs 13,67,245.45 crore, or 53.91 per cent of the anticipated cost of the projects. However, the number of delayed projects decreases to 626 if delay is calculated on the basis of the lates

IL&FS resolves Rs 56,943 cr debt as of Sept, addresses 93% of target

Infra lending firm's affidavit says it has reduced the number of entities under it from 302 to 101

We see strong double-digit topline growth in FY23: Tata Projects MD

Vinayak Pai, who took over as the top man in the firm this July, dwells on the existing and prospective projects, and the future roadmap of the company