Page 20 - Infrastructure

Roads and renewables: Global PE major KKR to raise infra bet in India

Major portion of $6.4 billion Asia-Pacific fund set to be routed to India

Uphold definition of forests as per 1996 judgement: SC tells states, UTs

This means that for now, States and Union Territories will have to go by the dictionary definition of the word forest to determine whether any work can be approved on any land

Germany's Thyssenkrupp to divest stake in Indian arm to local partners

The statement said that it is "intended and envisaged" that Thyssenkrupp Polysius and tkII would remain close cooperating partners

Digital banking infra provider Signzy buys Difenz at valuation of $5 mn

Digital banking infrastructure provider Signzy has acquired Difenz, a fraud risk management solutions provider, in a cash and equity deal at a valuation of USD 5 million (about Rs 41.4 crore). The acquisition also gives an exit to existing investor 8i Ventures, according to a release. Announcing Signzy's takeover of 8i-funded Difenz at a valuation of USD 5 million, the release said the deal positions Signzy as one of the largest RegTech (regulatory technology) companies in the country providing advanced risk and compliance solutions to financial institutions. The transaction is a cash and equity deal, the release said but did not elaborate on details. "Signzy will now provide seamless AI-led KYC compliance solutions to the financial institutions (FIs) thereby eradicating redundancy across frameworks," it said. This will also enable Signzy to provide advanced AML (Anti-Money Laundering) screening, transaction monitoring, effective chargeback management and compliance management sys

Digital public infra contributes 0.9% to GDP, to triple by 2030: Nasscom

Digital public infrastructures like Aadhaar, UPI and FASTag generated a value of USD 31.8 billion in 2022, contributing 0.9 per cent to India's GDP, and the contribution is projected to increase 2.9-4.2 per cent by 2030, industry body Nasscom said in a report. The Nasscom-Arthur D. Little report titled 'Digital Public Infrastructure of India - Accelerating India's Digital Inclusion' said that Indian DPIs' foundational layers are based on transparency and trust, which promotes paperless transactions, reduces bureaucracy, and advances the concept of digital identity and document management. The report said that mature DPIs such as Aadhaar, UPI (Unified Payments Interface), and FASTag have witnessed exponential adoption by 2022, and the next 7-8 years offer an opportunity for further scalability, reaching even the most remote segments of the population. "By 2030, adoption across matured and budding DPIs has the potential to scale up. The economic value add of these DPIs by 2030 has the

Japan to invest Rs 12,800 crore for 9 projects in various sectors in India

The finance ministry on Tuesday said that the Japanese government has committed a loan of 232.209 billion yen (about Rs 12,800 crore) for nine projects related to various sectors in India. The projects included North East Road Network Connectivity, Project for Promoting Start-up and Innovation in Telangana, Project for the Construction of Chennai Peripheral Ring Road, Project for Promoting Sustainable Horticulture in Haryana and Project for Climate Change Response and ecosystem Services Enhancement in Rajasthan. The road network connectivity projects aim to improve infrastructure development in India's north-east region, while the Chennai peripheral ring road project aims to alleviate traffic congestion and strengthen connections to the southern part of the state, the finance ministry said in a statement. The agreement to this effect was signed between Vikas Sheel, Additional Secretary, Department of Economic Affairs, and Suzuki Hiroshi, Ambassador of Japan to India. "The project i

Infra to be vital component for India to become developed nation: Puri

Infrastructure will be a vital component for India to become a developed country by 2047, Union minister Hardeep Singh Puri said on Monday and asserted that the country will be the third-largest construction market globally by next year. Highlighting the vitality of the construction industry for the Indian economy, the Union housing and urban affairs minister said the construction industry is among the fastest growing industries in the country. Addressing a gathering at the inauguration of the National Workshop on 'Recent Development with recycling and use of construction and demolition waste in the construction sector here, he said solid waste processing in India has witnessed a significant rise from mere a 17 per cent in 2014 to more than 77 per cent in 2024. Norwegian Ambassador to India May-Elin Stener also attended the event. "Now, we are transferring these capabilities in other forms of waste management, including construction and demolition waste, plastic waste, e-waste and

Gawar Construction looks to raise Rs 2,000 crore from maiden InvIT

Co looks to put 10 road assets for Rs 5250 crore

PM Modi to lay foundation of projects worth Rs 3,161 cr in J-K next week

Prime Minister Narendra Modi will inaugurate or lay the foundation of 209 projects worth over Rs 3,161 crore in Jammu and Kashmir on February 20, the Union territory administration said on Friday. These projects will upgrade infrastructure, strengthen service delivery systems, general employment opportunities and spur progress and prosperity in the Union territory. The prime minister will inaugurate 85 projects and lay the foundation of 124 projects at an event at the M A Stadium in Jammu at 11 am on February 20. Modi is also scheduled to address a public rally, his second in the region after the abrogation of Article 370 in August 2019. Earlier on April 24, 2022, he had addressed a rally in Palli Panchayat in Samba district. The Union territory administration published a full-page advertisement in some leading newspapers on the event, carrying the pictures of both Modi and Lieutenant Governor Manoj Sinha with a captain "Viksit Bharat Viksit Jammu Kashmir Aman aur Tarakki ki Nai .

Govt's infra push to spur growth of heating, ventilation, AC sector: ISHRAE

The heating, ventilation, and air-conditioning (HVAC) sector is poised for an unprecedented growth due to increased demand in the coming years on the back of the government's focus on infrastructure investment, say industry players. Finance Minister Nirmala Sitharaman in the annual budget for the 2024-25 financial year has allocated Rs 11.11 lakh crore for infrastructure. Industry stakeholders shared their views during the 23rd edition of ACREX India. The three-day event, being held at Greater Noida, has been organised by industry body ISHRAE and Informa Markets India. "As we observe the remarkable growth trajectory of theC industry and the significant strides achieved through initiatives like the Atal Community Innovation Centre (ACIC) programme, ACREX India emerges as a symbol of opportunity and progress," ISHRAE President Yogesh Thakkar said. "With the substantial government investment of USD 1.45 trillion in infrastructure projects over the next five years, we stand on the brin

Gadkari launches 28 national highway projects worth Rs 6,600 cr in Odisha

Union Road Transport and Highways Minister Nitin Gadkari inaugurated and laid the foundation stones for 28 national highway (NH) projects worth Rs 6,600 crore in Odisha. Though his visit to Odisha was cancelled at the last minute, Gadkari launched these projects virtually. Among the inaugurated projects were a 79km four-lane road between Baharagora and Singhara on NH-49, valued at Rs 1,203 crore, and a 78km six-lane road from Chandikhol to Bhadrak on NH-16, costing Rs 2,035 crore. Additionally, the minister laid the foundation stones for 26 other road infrastructure projects in the state. During the event, Gadkari highlighted the significant progress in national highway development in Odisha since 2014. The total length of national highways in the state has increased from 4,639 km to 5,753 km during this period. The ministry has allocated nearly Rs 1.50 lakh-crore for highway development in Odisha, he added. From 2014 to 2024, around 4,250 km of roads were constructed in Odisha, w

Capacit'e Infraprojects Q3 results: Net profit grows 6% to Rs 30 crore

Capacit'e Infraprojects on Wednesday posted a 6 per rise in its consolidated net profit to Rs 30 crore during the third quarter ended December 2023, driven by higher income. It had clocked a net profit of Rs 23 crore in the October-December period of FY23, the company said in an exchange filing. The company's revenue from operations rose 8.57 per cent to Rs 481 crore against Rs 443 crore a year ago. The EBITDA (earnings before interest, taxes, depreciation, and amortisation) stood at Rs 89 crore compared to Rs 90 crore in the year-ago quarter. The company's order book stood at Rs 9,670 crore as of December 31, 2023, of which the public sector accounts for 65 per cent while the remaining came in from the private sector. The company's Executive Director Rohit Katyal said, "Over the past few years, while our order book size has expanded significantly, our project under execution has reduced, leading to higher revenue contribution per project, better management and improved margin ...

India's record pace in building roads slows down as bills rise, polls near

Terms for building expressways have been changed as the government seeks better utilisation of funds

Siemens results: Profit grows 9% to Rs 506 cr in Dec qtr, order book up 10%

Siemens Ltd on Tuesday posted a 9.2 per cent rise in net profit at Rs 505.7 crore in the first quarter ended December 31 due to higher revenues. The company follows the October to September fiscal year. It had reported a net profit of Rs 462.7 crore in the October-December period of the preceding financial year, Siemens Ltd said in an exchange filing. Its total income rose to Rs 4,989.3 crore over Rs 4,116.8 crore a year ago. Expenses stood at Rs 4,311 crore as against Rs 3,495.7 crore in the first quarter of last fiscal. In a separate statement, the company said it has received new orders of Rs 5,971 crore in the first quarter, a 10 per cent increase over the same period of last year. The first quarter (result) includes significant gain of Rs 103 crore due to positive effects of foreign exchange and commodities, the company said. Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said, "While strong revenues came in from our digital industries, smart

Public money and public policy

A policy recalibration is needed to reduce the need for continuous expansion of infrastructure in existing cities

Brookfield India Real Estate Trust to distribute Rs 209 cr to unitholders

Brookfield India Real Estate Trust on Monday reported an 89 per cent growth in net operating income to Rs 453.4 crore and declared distribution of Rs 208.56 crore for the December quarter. The distribution comprises Rs 97 crore at Rs 2.21 per unit in the form of interest payment on shareholder loan, Non-Convertible Debentures (NCDs) and Compulsory Convertible Debentures (CCDs), Rs 108.89 crore at Rs 2.48 per unit in the form of repayment of Special Purpose Vehicles (SPV) debt and NCD and the balance Rs 2.63 crore at Rs 0.06 per unit in the form of interest on fixed deposit. In a regulatory filing, the company said it will distribute Rs 208.56 crore at Rs 4.75 per unit to unit holders for the December quarter. The company's net profit declined to Rs 16.57 crore during the quarter from Rs 24.68 crore in the year-ago period. Total income, however, rose to Rs 561.13 crore during the October-December period from Rs 309.34 crore in the corresponding period of the previous year. On ...

Cabinet decision on railways will boost infra, reduce congestion: PM Modi

Prime Minister Narendra Modi on Thursday lauded a host of decisions taken by the Union Cabinet and said the approval of railway projects will boost infrastructure and reduce congestion on busy routes and improve commerce as well as connectivity. The Cabinet chaired by Modi approved six projects of the Ministry of Railways with an estimated cost of nearly Rs 12,343 crore with 100 per cent funding from the central government. The Cabinet's extension of the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) will ensure improved credit access for those in the fisheries sector and boost the creation of related infrastructure, the prime minister said in a post on X. The Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana, which has been approved by the Cabinet will boost the fisheries sector, especially MSMEs associated with the sector, he added. The government had earlier announced a Rs 6,000-crore scheme in order to formalise the unorganised fisheries sector, facilitate ...

3M India Q3 result: Profit up 8% at Rs 135 cr, smallest rise in 9 quarters

Consolidated profit after tax came increased more than 8% from a year earlier to 1.35 billion rupees (about $16 million) in the third quarter ended Dec 31

Tata Steel, South East Railway join hands to develop sustainable infra

Private steel major Tata Steel on Wednesday said it will jointly work with South Eastern Railway (SER) to develop sustainable rail infrastructure by utilising its slag-based aggregates. A deliberation on the project execution was held between officials of the SER and Tata Steel, the company said in a statement. Utilisation of sustainable alternatives is the need of the hour, and it will also help in conserving the ecology, SER General Manager Anil Kumar Mishra said at the event on Tuesday. Tata Aggreto, a greener substitute of natural aggregates used in road construction, and Tata Nirman, used as a raw material in manufacturing of fly ash bricks and cement making, will be used in construction of blanketing layers in railway tracks. During the deliberation, Rajeev Shrivastava, Chief Administrative Officer (Construction) apprised participants of the plan chalked out to strengthen the rail infrastructure by the Ministry of Railways. In the endeavour to transform steel slag into ...

Man Infraconstruction Q3 results: Net profit falls 4.5% to Rs 86.51 crore

Man Infraconstruction Ltd on Monday posted a fall of 4.5 per cent to Rs 86.51 crore in the December 2023 quarter due to lower income. It had clocked a net profit of Rs 90.60 in the October-December period of preceding 2022-23 financial year, the company said in an exchange filing. The company's total income fell to Rs 261.34 crore as against Rs 471.77 crore in the year-ago period. However, the company managed to trim its expenses to Rs 149.07 crore from Rs 346.21 crore in the third quarter of FY23. EPC firm Man Infraconstruction is into verticals like ports, infrastructure, commercial projects, institutions, IT projects and futuristic lifestyle houses.