Page 13 - Infrastructure

Rays Power Infra receives projects worth Rs 833 cr in June quarter

Rays Power Infra on Monday said it has secured new projects worth Rs 833 crore during the first quarter of the current fiscal. Rays Power Infra is a turnkey solar engineering, procurement and construction (EPC) services player. These projects add over 680 MW to the company's existing portfolio, according to a statement. The company acquired new projects valued at Rs 833 crore in the April-June quarter, it said in a statement. "Securing these projects is a significant step towards our quarterly targets and long-term goals. We remain committed to delivering high-quality projects and maintaining our growth momentum to achieve our ambitious targets," Pawan Sharma, Whole-Time Director of Rays Power Infra, said. The company did not provide any further details related to the projects.

As bridges collapse; tendering, design and climate resilience questioned

Road ministry officials say central bridge projects perform better than state ones due to stricter checks and balances

Canara Bank plans to raise Rs 10K cr through infrastructure bonds in FY25

A Canara Bank official said it expects to raise part of this amount this quarter (Q2FY25) itself, subject to market conditions. It is part of the efforts to diversify sources of funding

Philippine's ex-Prez Duterte, aide accused of awarding contracts to cronies

A former Philippine opposition senator accused ex-President Rodrigo Duterte of plundering state coffers in a criminal complaint filed Friday, alleging that he conspired with an aide to award government infrastructure contracts worth millions of dollars to cronies. Filed with the Department of Justice in Manila, the accusation adds to the former president's legal worries, which include an investigation by the International Criminal Court into allegations of crimes against humanity over the widespread killings of suspects during Duterte's drugs crackdowns. Former Sen. Antonio Trillares IV said two construction companies, owned by the father and brother of longtime Duterte aide and now senator Christopher Lawrence Go, bagged more than 100 government construction contracts worth at least 6.6 billion pesos ($114 million) from 2007 to 2018 in the southern city of Davao, while Duterte was mayor. Neither company had the resources or manpower to handle large-scale infrastructure construction,

6th cyber dialogue: India, UK agree to deepen ties, build robust cyberspace

India and the United Kingdom have agreed to deepen cooperation between their cyber agencies in order to build a safe and robust cyberspace, the Ministry of External Affairs (MEA) said on Thursday. The Sixth Cyber Dialogue between the two sides was held here on Wednesday. "Discussions during the dialogue included cyber-threat assessment, internet governance, data protection, protection of critical infrastructure, capacity building and cooperation in multilateral fora, including the latest developments in the cyber realm at the United Nations," according to a statement issued by the MEA. "Both sides agreed to deepen cooperation between their respective cyber agencies in order to build a safe and robust cyberspace," the statement said. The dialogue was co-chaired by Amit A Shukla, Joint Secretary, Cyber Diplomacy Division, MEA, and Kat Jones, Head of Strategy and Engagement, Cyber Policy Department, The Foreign, Commonwealth and Development Office (FCDO) of the UK. The Indian delegat

New projects in April-June down over 90% to lowest on record, shows data

Election quarter also marked by lower project completions

Core sector growth slows to 6.3% in May due to output deceleration

For the first two months of this financial year, growth in the output of the core industries stood at 6.5%

NIIF-backed Aseem Infra Finance to raise Rs 1,000 crore in equity in FY25

At present, NIIF holds a 59% stake, followed by 31% held by the Government of India, and SMBC holds the remaining 10% stake

458 infra projects hit by cost overrun of Rs 5.71 trillion in May: MoSPI

As many as 458 infrastructure projects, each entailing an investment of Rs 150 crore or above, were hit by a cost overrun of more than Rs 5.71 lakh crore in May this year, according to an official report. According to the Ministry of Statistics and Programme Implementation (MoSPI), which monitors infrastructure projects worth Rs 150 crore and above, out of 1,817 projects, 458 reported cost overruns and 831 projects were delayed. The total original cost of implementation of 1,817 projects was Rs 27,58,567.23 crore, and their anticipated completion cost is likely to be Rs 33,29,647.99 crore, which reflects an overall cost overrun of over Rs 5,71,080.76 (20.70 per cent of original cost), the ministry's latest report for May 2024 showed. According to the report, the expenditure incurred on these projects till May 2024 is Rs 1,707,190.15 crore, which is 51.3 per cent of the anticipated cost of the projects. However, the number of delayed projects decreased to 554, provided the delay is

Key infrastructure sectors, realty may attract Rs 15 trillion by FY26

The Centre has changed a number of clauses in its model concession agreement to ease the market's woes, but it remains to be seen whether these will be appreciated by the sector

Bondada Engineering locks in 5% upper circuit after LoA from NLC India

Bondada Engineering stock price surged up to 5 per cent, locking at its upper circuit at Rs 2320.80 per share on the BSE in Thursday's morning deals

IBA to ask RBI to not alter capital requirement for infra projects: Report

If the RBI's proposal is implemented as is, "the impact will be very modest", Girishkumar Kadam, senior vice president and group head - corporate ratings at ICRA, said at a media briefing

India's strength amid global equity caution will persist: Ridham Desai

Desai says commitment toward fiscal consolidation and push for infrastructure, manufacturing and deep tech will be the key things to watch out for in the Union Budget

Road network expansion to pose big challenge for air cargo: IndiGo

Only about 60 per cent of IndiGo's total cargo capacity is being utilised due to the airline's rapid expansion to 2,000 flights a day, resulting in a number of routes with low cargo demand

India Inc wants new govt to create jobs, control inflation: BS CEO poll

Business honchos say focus should also be on infrastructure and health care

IPEF's clean economy investor forum meet in Singapore to begin on Jun 5

Senior officials from the commerce ministry will participate in the two-day clean economy investor forum meet in Singapore, organised by Indo-Pacific Economic Framework for Prosperity (IPEF), an official said. Commerce Secretary Sunil Barthwal, Additional Secretary in the ministry Rajesh Agrawal, and other senior officers have reached Singapore for the meet, which will start on June 5. "Indian projects would be pitched in the forum. Over 150 investors would participate," the official said. The Indo-Pacific Economic Framework for Prosperity (IPEF) was launched in May 2022 and it currently includes 14 partners -- Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, the US, and Vietnam. It provides a platform for countries in the region to collaborate on advancing resilient, sustainable and inclusive economic growth, and aims to contribute to cooperation, stability and prosperity in the region. Th

Russia's major air attack damages Ukrainian energy infra in 5 regions

There were no immediate reports of casualties

Core sector growth accelerates to 6.2% in April, shows govt data

Eight key infrastructure sectors' growth rose to 6.2 per cent in April on healthy expansion in the production of natural gas, refinery products and electricity, according to official data released on Friday. The production of eight sectors grew by 6 per cent in March. The growth of these core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 4.6 per cent in April 2023. The official data showed that fertiliser output recorded negative growth in April. The production growth of coal, steel and cement slowed down to 7.5 per cent, 7.1 per cent and 0.6 per cent, respectively against 9.1 per cent, 16.6 per cent and 12.4 per cent in April 2023, respectively. The eight core sectors contribute 40.27 per cent to the country's Index of Industrial Production (IIP).

Infra.Market raises $50 million from existing investor MARS Unicorn Fund

Infra.Market intends to use the proceeds of the latest raise to cater to newer global markets and increase its presence across product verticals

Ind-Ra expects stable operating performance for most infra projects in FY25

India Ratings and Research (Ind-Ra) expects stable operating performance for most infrastructure projects in the current financial year. The rating agency on Thursday maintained its stable outlook on the infrastructure sector, including the transport segment which signifies low chances of rating changes for the sector in the near to medium term. The rating agency assigned a positive outlook on the airport segment which means there are high chances of rating upgrades in the near to medium term. Ind-Ra stated that the stable outlook on the infrastructure sector factors in the likelihood of a stable operating performance for most projects, long-term revenue visibility under concession agreements and power purchase pacts and expected improved cargo and traffic volumes. On the power sector, the rating agency said it expects total capacity installed to reach about 476 GW in FY25 against 440 GW as of March 2024. In a virtual press meet, Bharat Kumar Reddy, Associate Director at India ..