Page 21 - Infrastructure

L&T Tech trims FY revenue growth guidance; Q2 profit up 4.7% to Rs 315 cr

The unit of engineering conglomerate Larsen and Toubro now expects revenue in dollars for this fiscal year ending March to grow 17.5%-18.5% in constant currency

India to spend nearly Rs 143 trn on infra between FY24 and FY30: CRISIL

India will spend nearly Rs 143 lakh crore on infrastructure between fiscals 2024 and 2030, more than twice the Rs 67 lakh crore spent in the past seven financial years starting 2017, rating agency Crisil said on Tuesday. Of the total, Rs 36.6 lakh crore will be green investments, marking a five times rise compared with the amount spent during fiscals 2017-2023, it added. "India's infrastructure spending will double to Rs 143 lakh crore between fiscals 2024 and 2030, compared with 2017-2023," Crisil said in its Infrastructure Yearbook 2023. Crisil Ltd managing director and CEO Amish Mehta said the agency expects India's gross domestic product to grow at an average 6.7 per cent through fiscal 2031 to be the fastest-expanding large economy. "Per capita income is seen rising from USD 2,500 now to USD 4,500 by fiscal 2031, creating a middle-income country," he said, adding that this growth will be underpinned by massive all-round infrastructure development, with sharp focus on integrati

KEC International bags new domestic, global orders worth Rs 1,315 cr

Infrastructure company KEC International on Monday announced securing new orders totalling Rs 1,315 crore in India and international markets. The orders have been bagged by the company's Transmission & Distribution (T&D) business in the domestic market apart from clientele in Middle East, Australia and Americas, KEC International said in a regulatory filing. In India, the scope of order includes a transmission line and a substation order from Power Grid Corporation of India Ltd (PGCIL) while the orders in Middle East, Australia and Americas are for supply of towers, hardware and poles and various types of cables. Vimal Kejriwal, MD and CEO of KEC International Ltd, said, "we are delighted with the new order wins, particularly the orders from PGCIL in Rajasthan. These orders have significantly enhanced our India T&D order book. In a noteworthy achievement, our tower supply business footprint now extends across six continents." KEC International is a global infrastructure ...

GMR arranges Rs 4,000-cr loan to construct Vizag international airport

The airport in Vizag would become GMR's fourth major airport in the country after those at Delhi, Hyderabad, and Goa

Digital public infra approach can unlock value in space sector: Report

Digital public infrastructure-led approach for the downstream spacetech segment can unlock immense value and contribute to India emerging as a global leader in the sector, a global consultancy firm said in a report on Tuesday. The report titled Exploring opportunities for Indian downstream spacetech' authored by Deloitte, Nasscom and Indian Space Association (ISpA) said the downstream spacetech sector has the potential to deliver value-added and scalable solutions to domestic and global markets and made a strong pitch for collaboration by the private sector and the government. The report listed out three core satellite applications areas Remote Sensing/Earth Observation; Positioning, Navigation and Timing (PNT); and Satellite Communication (SATCOM) and identified more than 200 use cases. "Digital public goods and digital public infrastructure (DPI) led approach for this segment can unlock immense value. The approach can become value-accretive and bring the dream of ...

CM Chouhan performs bhoomi pujan of 14,871 works worth over Rs 53,000 cr

CM Chouhan inaugurated a total of 12,301 works worth Rs 7958.79 crore related to 18 departments while he performed the bhoomi pujan of 2570 worth Rs 45479.84 crores works

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

Global infra faces losses of $300 bn amid worsening climate impacts: CDRI

The global annual average loss (AAL) in the principal infrastructure sectors due to disasters and climate change currently stands between USD 301 and USD 330 billion, according to a biennial report from the Coalition for Disaster Resilient Infrastructure (CDRI). The inclusion of health and education infrastructure, and building stock, increases that range to USD 732 to USD 845 billion -- around one-seventh of the global GDP growth in the financial year 2021-2022 -- with nearly half of this contingent liability held by the low-and-middle-income countries, the report said. The low-and-middle-income countries (LMICs), therefore, face a multi-dimensional challenge -- a large infrastructure deficit that constrains social and economic development, precarious and poor-quality infrastructure due to deficiencies in infrastructure governance, disaster-related asset loss and damage and service disruption, and a stock of legacy infrastructure increasingly ill-suited to address the challenges ...

JSW Infrastructure shares jump over 32% to settle at Rs 157 in debut trade

Shares of JSW Infrastructure, a part of JSW Group, on Tuesday made a remarkable market debut and ended with a premium of over 32 per cent against the issue price of Rs 119. The stock made its debut at Rs 143, registering a jump of 20.16 per cent from the issue price on the BSE. It rallied 32.18 per cent to settle at Rs 157.30. At the NSE, it listed at Rs 143. Shares of the company ended at Rs 157.30 apiece, climbing 32.18 per cent. The company commanded a market valuation of Rs 33,033.02 crore. In traded volume terms, 57.99 lakh shares of the company were traded at the BSE and over 12.21 crore shares at the NSE during the day. In the equity market, the 30-share BSE Sensex declined 316.31 points or 0.48 per cent to settle at 65,512.10. The Nifty fell 109.55 points or 0.56 per cent to end at 19,528.75. The Initial Public Offering (IPO) of JSW Infrastructure was subscribed 37.37 times on the last day of bidding on Wednesday. The Rs 2,800-crore IPO had a price range of Rs 113-119 pe

Parents may use education loan, dollar assets to lessen TCS impact

Travellers may split forex purchases, use international cards on foreign sites, and book various elements of the trip separately

India's 'intrapreneur'

A M Naik created an exemplar of professional management

Cargo terminals, trucking hubs in the works to boost exports in UP

A committee under the transport commissioner has been constituted to evaluate private investment proposals for the setting up of the logistics network

Rajasthan govt to boost tourism, improve infrastructure facilities

Special efforts will be made to improve road connectivity and provide last-mile connectivity

Key infra sector growth rises to 14-month high of 12.1% in August

The expansion in August is the highest since June 2022, when it was 13.2 per cent

Production at German VW plants resumes after disruption caused by IT issue

Production at Volkswagen is resuming after a problem with the German automaker's information technology network caused a severe disruption, the company said Thursday. Volkswagen said on Wednesday evening that the IT disruption caused production to halt at its four vehicle manufacturing plants in Germany its Wolfsburg headquarters, Emden, Zwickau and Osnabrueck. It also affected some other facilities, including at subsidiary Audi, it said. The company said Thursday morning that the IT infrastructure problems were resolved during the night and production was resuming, German news agency dpa reported. It said there were no indications of any external cause for the disruption.

Carry out repair, beautification work in east Delhi areas: LG to officials

Lieutenant Governor V K Saxena has directed civic officials to revamp roads, pavements, parks, and sewerage and drainage systems in east Delhi areas, officials said on Sunday. The Lt Governor's office will monitor the progress of the work and no status report will be accepted without photo or video evidence, they said. The direction came after Saxena visited several areas of east Delhi, including Shashtri Park, Mansarovar Park, Seelampur, Shyam Lal College, Karkardooma, Surajmal Park, and Dilshad Garden. He flagged the poor condition of roads, sanitation, encroachment, and clogged drains and directed civic agencies to begin the work immediately, officials said. "Daily progress of work will be monitored by the LG Secretariat," an official said. The Lt Governor has specifically directed that no progress report from any agency would be accepted unless supported by before and after photographs, they said. He asked all concerned agencies -- MCD, PWD, DDA, DJB -- to sort out the ...

Speed of infra development matching aspirations of 1.4 bn Indians: PM Modi

Prime Minister Narendra Modi on Sunday said the speed and scale of infrastructure development matched the aspirations of 140 crore Indians as he flagged off nine Vande Bharat Express trains connecting religious and tourist destinations across 11 states. Flagging off the Vande Bharat Express trains via video conferencing, Modi also slammed the previous governments for not paying adequate attention for modernisation of railways and assured that the "day is not far when Vande Bharat will connect every part of the country". Governors, chief ministers, Union ministers and elected representatives were present at the nine railway stations from where the indigenously built semi-high speed trains were flagged off. The trains stopped at various stations where they were welcomed by enthusiastic school children and hoards of people with elected representatives addressing functions en route. Union minister Kailash Choudhary and Rajasthan BJP president C P Joshi boarded the Vande Bharat Express

Delhi L-G reviews civic infrastructure, flags poor condition of some roads

Lt Governor VK Saxena on Saturday reviewed the cleanliness and the infrastructure at various places in Delhi and flagged the poor condition of some roads and drains. In an interview to PTI earlier this month, Saxena had said the beautification of other parts of Delhi would also be carried out. He has already started carrying out inspections of areas that need beautification. Saxena spoke to PTI ahead of the G20 Summit. Vast stretches of the national were redeveloped for the mega event. "Starting from Yudhisthir Setu at ISBT, reviewed cleanliness and civic infra across GT Road-Shastri Park, Dilshad Garden and Kakardooma," Saxena said in a post on X. "Roads in disrepair, chocked drains, heaps of garbage, unpruned trees and encroachments mar the area. Will personally monitor a revamp from tomorrow," he said.

Robust digital infrastructure helped govt save over $27 billion: DEA Secy

Economic Affairs Secretary Ajay Seth on Friday said digital public infrastructure (DPI) has led to savings of over USD 27 billion in government schemes, and achieve greater financial inclusion in a short period. The use of direct benefit transfer (DBT) in the last one decade has ensured money reached to targeted beneficiaries and bogus accounts are weeded out. This has helped in huge savings of taxpayers' money. Sharing India's success story on the financial inclusion front, Seth said India has achieved 80 per cent account opening penetration from 20 per cent within a span of 7-8 years with DPI, which would have taken 47 years in the normal course as per a study by the Bank of International Settlements. "We developed a solution approach for delivering best-in-class services to the last mile and even in the most remote parts of the country. Our achievements are well known in numbers. Since the launch of the digital identity number, Pradhan Mantri Jan Dhan Yojana PMJDY in 2014, over 5

Infra push to drive cement demand up 10-12% this fiscal: Crisil Ratings

The massive infra spending by the government towards building roads, railway lines and power, among others, will boost cement demand by 10-12 per cent this fiscal, according to a report. The Centre has increased its budget allocation for infrastructure -- such as roads, railway lines/stations, power, including renewables, urban infra, telecom, ports, airports, and water works, among others -- by Rs 1.6 lakh crore to Rs 5.9 lakh crore for fiscal 2024 from a revised estimate of Rs 4.3 lakh crore for fiscal 2023. Continuing the robust ride of the past two fiscals, cement demand is likely to grow 10-12 per cent year-on-year to 440 million tonne in fiscal 2024, driven by strong offtake from the infrastructure segment, Crisil Ratings said in a note Friday. Cement demand grew by 12 per cent in fiscal 2023 and by 8 per cent in fiscal 2022. Combined with stable cement prices and softening power and fuel costs, the operating profit of cement manufacturers is likely to recover by Rs 200/tonne