Page 15 - Infrastructure

HITES registers 31% increase in net profit at Rs 32.86 crore in FY24

HLL Infra Tech Services Ltd (HITES) has reported a 31 per cent jump in net profit to Rs 32.86 crore in 2023-24 compared to Rs 25 crore in FY23 on higher revenue from the infrastructure division, the Health Ministry said on Wednesday. The total turnover of the central public sector undertaking under the Health Ministry rose by 17.18 per cent to Rs 425.10 crore in 2023-24 against Rs 362.77 crore in 2022-23, the ministry said. "These significantly positive results were achieved largely due to the infrastructure development business which saw the execution of the new All India Institute of Medical Sciences (AIIMS) at Bibinagar (Telangana) and Rewari (Haryana)," the ministry said. Besides, the company also executed projects of upgradation of medical colleges and hospitals at Alibagh and Nandurbar, Maharashtra, and other healthcare and allied projects at various locations pan India. The company also provided medical equipment procurement and facility management services in the last fisca

Viksit Bharat can't thrive without nourishing farm policy: Experts at Business Standard Manthan

In order to make India "Viksit Bharat" by 2047, it needs to focus on building human capacity before prioritising infrastructure-led development, Ajay Vir Jakhar, the chairman of Bharat Krishak Samaj,

Acquire this: Technology startup deals are getting pricier, shows data

There were four acquisitions each for financial technology and high-tech firms, three for enterprise infrastructure and two for media and entertainment

Schneider Electric, Nvidia partner to optimise data centre infrastructure

Energy management and automation major Schneider Electric on Thursday said it has collaborated with NVIDIA to optimise data center infrastructure. Schneider Electric will leverage its expertise in data center infrastructure and NVIDIA's advanced AI technologies to introduce the first publicly-available AI data center reference designs, according to a statement. These designs are set to redefine the benchmarks for AI deployment and operation within data center ecosystems, the statement said. "We're unlocking the future of AI for organisations," said Pankaj Sharma, Executive Vice President - Secure Power Division & Data Center Business at Schneider Electric. The collaboration will help organisations to overcome data center infrastructure limitations and unlock the full potential of AI, the statement said. In the first phase of this collaboration, Schneider Electric will introduce cutting-edge data center reference designs tailored for NVIDIA accelerated computing clusters and built

Bank of India to raise Rs 10,000 cr through long-term infrastructure bonds

State-owned Bank of India (BoI) on Wednesday said its board has given approval to raise Rs 10,000 crore through long-term infra bonds to fund infrastructure projects. The fund would be raised in 2024-25, BoI said in a regulatory filing. Recently, many banks including SBI have issued infrastructure bonds to secure funds that are solely dedicated to advancing various infrastructure development projects. These bonds help in building roads, bridges, airports, power plants, and telecommunications networks etc and addressing the infrastructure deficit of the country.

REC board approves overall borrowing of Rs 1.6 trillion for 2024-25

State-owned REC Ltd on Wednesday said its board has approved an overall borrowing limit of Rs 1,60,000 crore for 2024-25. The board in its meeting held on Wednesday approved a borrowing limit of Rs 1.6 lakh crore, including Rs 1,45,000 bonds and term loans, Rs 5000 crore of short-term loans and Rs 10,000 crore of commercial papers, REC said in a filing. Funds under the proposed borrowing programme for 2024-25 shall be raised for different maturities, through different instruments, depending upon the actual requirement of funds, asset-liability position and prevailing market conditions, with the approval of Competent Authority, the filing stated. The Board has approved the amendment in 'Policy on Criteria for determining Materiality of Events or Information for disclosure to Stock Exchanges'. REC, a non-banking finance company, provides financing to power infrastructure projects in the country. It meets the funding requirements through borrowings.

Strong outlook, robust domestic demand to support Cummins India stock

Riding on a 36 per cent growth y-o-y in the domestic market, the company posted an overall revenue growth of 16 per cent

AWS, Nilekani's EkStep collaborate for innovation in digital public infra

Amazon Web Services on Tuesday said it has collaborated with Nandan Nilekani's EkStep Foundation to set up a Joint Innovation Centre (JIC) to foster digital solutions for public service delivery. This joint effort will focus on enabling and accelerating the creation of digital public goods (DPGs) and digital public infrastructures (DPIs), the company said in a statement. "The JIC will promote collaboration among...stakeholders to develop DPGs and DPIs for sectors such as education, agriculture, finance, healthcare, and climate change, and help accelerate societal transformation," the statement said. The innovation centre will focus on supporting startups, independent software vendors (ISVs), and system integrators (SIs) to leverage the power of technologies such as cloud computing, generative artificial intelligence (AI), and analytics from AWS; help them imagine and invent new use cases for DPGs and DPIs, incubate them, and enhance existing ones, and offer comprehensive starter kit

Mahanagar Gas legally challenges infrastructure exclusivity expiry notice

City-gas distributor to apply for a 10-year extension to continue its infrastructure exclusivity in Mumbai

Army's elite tech unit to enhance communication infrastructure of force

An elite unit of the Indian Army has been raised in Delhi to develop technologies considering the future battlefield, with a primary aim to enhance the communication infrastructure of the force, officials said. Signals Technology Evaluation and Adaptation Group (STEAG), with a strength of nearly 280 personnel is headed by a Colonel-rank officer from the Corps of Signals, officials said on Tuesday. This unit will undertake research and evaluation of futuristic communication technologies like 6G, artificial intelligence, machine learning and quantum computing for defence applications in view of the changing nature of the field. "The primary aim is to enhance the communication infrastructure of the Indian Army," a senior official said. Another official said it was set up earlier this month. This group will be operational under the Signals Directorate and is based in Delhi. It is headed by a Colonel-rank officer of the Army from the Corps of Signals, he said. STEAG is mandated to nur

Infra companies among top electoral bond donors: Election Commission

Cement majors donated Rs 233 crore; in mining and metals, Vedanta, Aditya Birla Group also figure among top 10

REC Power, BHEL to develop utility-scale renewable energy projects

REC Power Development and Consultancy and BHEL on Friday inked an initial pact to form a special purpose vehicle (SPV) for developing utility-scale renewable energy projects. Renewable energy projects of 10 MW or more are referred as utility-scale projects. REC Power Development and Consultancy Limited (RECPDCL) is a wholly owned subsidiary of state-owned REC Ltd. The SPV will be benefitted by the core engineering expertise of BHEL and infrastructure investment expertise of REC, a statement said. It will focus on catering to the energy requirement of commercial and industrial (C&I) segment with initial capacity of 1 GW which would be scaled further. "This collaboration brings together our extensive experience in the renewable energy sector with BHEL's proven expertise in manufacturing and engineering. This SPV will play a crucial role in achieving India's ambitious renewable energy targets and contribute to a cleaner and greener future," REC Chairman and Managing Director Vivek .

JSW Infrastructure incorporates arm to execute project at JNPT in Maha

JSW Infrastructure on Wednesday said it has incorporated a wholly-owned subsidiary for the execution of a port project at JNPT in Maharashtra. JSW JNPT Liquid Terminal Pvt Ltd has been incorporated on March 13, in Mumbai, according to a regulatory filing. The company said it has received a Letter of Intent (LoI) from Jawaharlal Nehru Port Authority for equipping, operation, maintenance and transfer of additional liquid cargo berths LB3 and LB4 at the port. The terms of LoI require the incorporation of a special purpose vehicle to enter into a concession agreement within 30 days of the issue of LoI. "Accordingly, the company has incorporated a new entity for the purpose of entering into the said concession agreement and to fulfil the obligations as stated in the said agreement," JSW Infrastructure said.

Mumbai gets its first coastal road, to open for people on Tuesday

Currently the 10.5 km long road will be open for traffic only on weekdays from 8 am to 8 pm

PM lays foundation stones of road projects in Gujarat costing Rs 1,500 cr

Prime Minister Narendra Modi on Monday virtually laid the foundation stones of three highway projects costing Rs 1,575 crore in Gujarat at an event held in Gurugram in Haryana. Among the three projects is the construction of a six-lane elevated corridor of 10.630 km from Narol Junction to Sarkhej Junction and an 8-lane bridge to replace the existing Shastri bridge on Sabarmati river on National Highway-47 in Ahmedabad at a cost of Rs 1,295 crore, a government release said. "National Highway-47 from Narol to Sarkhej passes through Ahmedabad Municipal Corporation limits. The elevated corridor will help solve traffic problems and blackspots created due to cross traffic that causes accidents," the release said. A second project of converting two-lane National Highway-58 to four-lane on a 23-kilometre stretch from Satlasana to Kheralu has been sanctioned, the release added. "This 23 km road is currently two-lane and connects to four-lane roads on both sides. The entire route will ...

REC to finance power, infra projects worth Rs 1.20 trillion in Rajasthan

Government-owned power sector financier REC Ltd on Monday said it has signed an agreement with the Rajasthan government to provide up to Rs 1.2 lakh crore in six years for power and infrastructure related projects. REC Ltd, under the power ministry, has signed an agreement with the government of Rajasthan on March 10, according to a statement. As per the agreement, REC will finance up to Rs 20,000 crore per annum for a period of six years projects across power and non-power infrastructure sectors. Vivek Kumar Dewangan, CMD, REC Ltd, said in the statement, "We are proud to collaborate with the government of Rajasthan in its mission to enhance infrastructure development across the state. Through this partnership, we aim to support sustainable growth and address the evolving energy needs of the region along with development of other infrastructure sectors." Under this agreement, REC will provide loans of up to Rs 20,000 crore annually for the next six years to various departments, ...

Speed of infra development will be accelerated manifold in 5 yrs: PM Modi

Prime Minister Narendra Modi on Monday said the speed of implementation of infrastructure projects will be accelerated manifold in the next five years to make India the third largest economy in the world. Modi said he has inaugurated and laid the foundation of projects worth Rs 10 lakh crore so far this calendar year and added that he is running short of time for inaugurating projects. He was addressing a gathering after inaugurating and laying the foundation stone for 114 National Highway projects across the country worth about Rs 1 lakh crore. Among key National Highway (NH) projects, Modi inaugurated the Haryana section of the landmark Dwarka Expressway. Modi took a dig at Congress, saying the opposition party and its 'Ghamandiya' alliance has lost sleep, seeing the speed at which development works are taking place in the country by his government. The prime minister said the Congress party is still looking at everything with negativity and this has become a character of the ..

Govt unlocks infrastructure blitz before 2024 Lok Sabha elections

PM launches projects worth Rs 2.3 trillion in a week; more lined up

CM Sarma unveils infrastructure projects worth Rs 1,700 crore in Assam

Assam Chief Minister Himanta Biswa Sarma on Sunday launched various infrastructure development projects worth nearly Rs 1,700 crore in Sonitpur and Baksa districts, including a 50-MW solar power plant. Unveiling the projects as part of the ongoing 'Vikas Yatra', Sarma said these will improve the entire region's education, health and energy infrastructure. In Sonitpur, he dedicated various welfare projects to the tune of Rs 1,370 crore, and in Baksa, the amount was Rs 308 crore. Sarma laid the foundation of the 50-MW solar plant in Sonitpur, to be developed at an investment of Rs 300 crore. The plant, spread over an area of 864 bighas (nearly 286 acres), will come up at Barchalla. "With this, just in the last seven days, Assam has laid the groundwork of generating 130 MW of solar power. To make the state a green energy hub, we aim to produce 3,000 MW of 'Surya Shakti' by 2028," Sarma said. The chief minister also inaugurated the state government's first model residential school in

PM inaugurates, lays foundation of projects worth Rs 8,500 cr in Tripura

Prime Minister Narendra Modi on Saturday virtually inaugurated and laid the foundation of projects worth Rs 8,534 crore in Tripura, including an integrated check-post at Sabroom along the India-Bangladesh border. The projects inaugurated by the PM include the Rs 250-cr ICP and tap water connection to 1.46 lakh people of the state at Rs 732.98 crore. Modi also inaugurated Eklavya Model Residential Schools at Rupaichari and Karbook in South Tripura district at Rs 48 crore and four new schools at Rs 10 crore. Several road projects were also inaugurated by him, including the upgradation of various stretches of national highways passing through the state. He also laid the foundation of Western Bypass for Agartala at Rs 2,026 crore, 200-bed maternal and child health wing of Agartala Government Medical College at Rs 192 crore, among other projects. On the occasion, Chief Minister Manik Saha, while addressing a programme at Sabroom in South Tripura district, said that Northeast is witness