Page 22 - Infrastructure

Take advantage of surety bonds: Irdai Chairman to infra stakeholders

Irdai Chairman Debasish Panda on Tuesday urged stakeholders in the infrastructure sector to take advantage offered by surety bonds, which complement bank guarantees needed for large scale funding. Surety bond is a type of insurance policy protecting parties involved in a transaction or contract from potential financial losses due to a breach of contract or other types of non-performance. He was speaking at a roundtable organised by Confederation of Indian Industry (CII) and The Infravision Foundation (TIF) on the financing of infrastructure projects in the country as part of the massive push to the sector by the government by allocating Rs 10 lakh crore towards it in the Union Budget 2022-23. The chairman of Insurance Regulatory and Development Authority of India (Irdai) pointed out that India is expected to spend approx Rs 100 lakh crore on infrastructure through the National Infrastructure Pipeline in the next five years. This requires bank guarantees of approximately Rs 90 lakh

PM GatiShakti: 106 infra projects worth Rs 11 trn recommended for approval

As many as 106 big-ticket infrastructure projects of different ministries worth Rs 11 lakh crore have been recommended for approval under the PM GatiShakti initiative so far this fiscal, an official statement said on Thursday. These projects have been recommended by the Network Planning Group (NPG) constituted under the PM GatiShakti initiative launched in October 2021. During the 55th Network Planning Group (NPG) meeting, six projects -- including three each from Railways and Road Transport and Highways ministries -- with a total cost of Rs 14,081 crore were assessed. "This takes the total number of projects assessed by NPG to 106 with a total value of about Rs 11 lakh crore, since the launch of PM GatiShakti approach," the commerce and industry ministry said. The inter-ministerial NPG meets every fortnight and appraises infra projects to ensure multi-modality, synchronisation of efforts, and comprehensive development in and around the project location. The initiative was launche

QCI, dept of family welfare signs MoU to improve food safety in Assam

An Memorandum of Understanding (MoU) was signed between Quality Council of India (QCI) and Commissionerate of Food Safety, Assam, Department of Health and Family Welfare to improve the food safety ecosystem in the state. The MoU aims to create quality infrastructure mechanisms by intervention such as conformity assessment framework and infrastructure, training and capacity building of stakeholders, among others, according to an official release. The MoU was signed at the Assam Gunvatta Sankalp event held here by the QCI with the support of the state government. The MoU marks a significant milestone in the journey towards excellence in quality and this collaboration will further strengthen the quality and safety of food products in the state, the release stated. Besides the signing of the MoU, the Sankalp also featured sessions with various aspects of the state's development in multivariate sectors including education and skilling, industry and MSME, sustainable agriculture, touris

KEC Intl hits new high, gains 11% on winning orders worth Rs 1,012 cr

With these orders, the company's year-to-date order intake stands at a record level of over Rs 6,500 crore, a strong growth of 11 per cent over the last year

Capex by large CPSEs touches 42.5% of budget target in April-August

NHAI and Railways drive robust growth in capex

Infra firm EMS Ltd IPO subscribed by 14.99 times on second day of bidding

The Initial Public Offering (IPO) of water and sewerage infra player EMS Ltd got subscribed 14.99 times on the second day of bidding on Monday. The share sale received bids for 16,17,01,400 shares against 1,07,87,431 shares on offer, as per NSE data. The category for non-institutional investors was subscribed 29.68 times while the quota for Retail Individual Investors (RIIs) received 16.52 times subscription and that of Qualified Institutional Buyers (QIBs) was subscribed 67 per cent. The IPO has a fresh issue of up to Rs 146.24 crore and an offer for sale of up to 82,94,118 equity shares. The price range for the offer is Rs 200-211 a share. The company offers water and sewerage infra solutions, including laying the sewerage network to build sewerage and water treatment plants in Uttar Pradesh, Bihar, Uttarakhand and Rajasthan. EMS Ltd on Thursday said it has raised Rs 96.37 crore from anchor investors. Proceeds from the fresh issue will be used to fund working capital requireme

Multi-billion dollar India-Nigeria infra deal to boost agriculture, ports

The agreement, signed on Sept. 6 with Invest India, is expected to help the West African country industrialize its agriculture and manufacturing sectors and cut reliance on imports

US, Saudi Arabia, India discuss possible rail, port connectivity deal

The plans for a sweeping, multi-national ports and rail deal would come at a critical time. To counter China's Belt and Road global infrastructure push, Biden is pitching Washington

Uttarakhand assembly presents supplementary budget of Rs 11,321 crore

A supplementary budget of approximately Rs 11,321 crore for 2023-24 was tabled in the Uttarakhand Assembly on Wednesday, proposing the largest allocations for drinking water and infrastructure development projects in the state. This is the state's first supplementary budget for the current fiscal. The amount of Rs 11,321 crore includes approximately Rs 3,530 crore of revenue expenditure and Rs 7,791 crore of capital expenditure. Tabling the budget in the House, state finance minister Premchand Agarwal said as in the past this budget too makes provisions for projects dedicated to people's welfare. The highest allocation of Rs 765 crore has been made in the budget for the Jal Jeevan Mission followed by Rs 600 crore for infrastructure-related works, Rs 321 crore for strengthening of infrastructure under the housing and urban development department and Rs 156 crore for the acquisition of land for the construction of a ring road around Tehri lake. A budgetary provision of Rs 100 crore

G20 ministers reach consensus on definition of digital public infra: MoS IT

G20 Digital Economy Ministers have reached a consensus on the definition of digital public infrastructure, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Tuesday. The minister said that under India's Presidency, G20 Digital Economy Ministers reached a groundbreaking consensus on the manner in which digital public infrastructure (DPI) will shape the future. "This has been for the first time ever a global consensus and what ought to be the definition, the framework and the principles of Digital Public Infrastructure," Chandrasekhar said. He said Prime Minister Narendra Modi launched an intense digitalisation process in 2015 with the Digital India programme. "India has seen several DPIs that have been created. I can safely say that DPI conversations that are being held across the world and have been amplified in a sense by G20 conversations have gained momentum in the context of this Indian Presidency in the G20. "India is now a case study- a nation that has ..

Delhi should have robust infra for hosting grand events like G20: LG Saxena

Delhi Lieutenant Governor V K Saxena on Saturday said the national capital's infrastructure should be such that grand events like the G20 Summit can be hosted in a week's notice, and stressed that a lot of work was carried out in this regard in the last two months. In an interview to PTI, he appreciated the efforts and hard work of all the agencies and officials involved in the preparations, and shared that finishing touches will be given by Saturday evening. Saxena stressed that many permanent assets have been created for the city as part of the G20 Summit, and urged people to ensure that they are maintained and not vandalised. "We will focus on beautifying the entire city now," he said. Asked about the controversies which emerged in the run-up to the Summit with regard to the budget spent and the 'Shivling' shaped fountains, he said, "I do not want to go into the controversies." He also said many of the artefacts have been given under CSR initiatives and not much expenditure ha

Gati shakti framework could unsnarl India's infrastructure bottlenecks

Capability-building measures under Gati Shakti framework could address existing challenges

JNPA eyes top spot in container volumes amid Gati Shakti boosted revamp

'One of India's busiest container ports, JNPA is expected to reclaim its top position in handling container volumes'

Anurag Thakur unveils infrastructure projects worth Rs 13 cr at NIS Patiala

Union Minister of Youth Affairs and Sports, Anurag Thakur graced the Netaji Subhas National Institute of Sports in Patiala

PM Gati Shakti: Infra projects worth Rs 5.89 trn recommended for approval

As many as 100 big ticket infrastructure projects of different ministries worth Rs 5.89 lakh crore have been recommended for approval under the PM Gati Shakti initiative so far this fiscal, a senior official said on Monday. These projects have been recommended by the Network Planning Group (NPG) constituted under the PM Gati Shakti initiative launched in October 2021. The NPG has achieved the milestone of appraising 100 projects in 54 meetings, Sumita Dawra, Special Secretary (Logistics), Department for Promotion of Industry and Internal Trade, said. The inter-ministerial NPG meets every fortnight and appraises infra projects to ensure multi-modality, synchronisation of efforts, and comprehensive development in and around the project location. The initiative was launched to develop an integrated infrastructure to reduce logistics costs. All logistics and connectivity infrastructure projects, entailing investments of over Rs 500 crore are routed through the NPG. The NPG's approval

India taking lead in using space tech to boost development: Jitendra Singh

Science and Technology Minister Jitendra Singh asserted on Monday that India has taken a quantum leap in space technology under Prime Minister Narendra Modi's leadership and has taken the lead in using it for aiding infrastructure and development works as well. With the country waiting with bated breath for Chandrayaan-3's scheduled touchdown on the lunar surface on Wednesday, Singh expressed confidence about its success and added that India will launch its first preliminary mission later this year in the run-up to its manned Gaganyaan mission, expected in the second half of 2024. Before the manned mission, there will be two unmanned missions, including one with a robot, he told reporters here. Noting the nationwide excitement about the moon mission, he said the Modi government has unlocked the space sector and raised awareness about India's space technology like never before. To a question about the failure of Russia's lunar mission, he said it had used a different route and ...

DMRC, NBCC to work together in infrastructure development in India, abroad

The DMRC and public sector undertaking NBCC have joined hands to work together in the field of infrastructure development in India and abroad, officials said on Monday. This was announced by the Delhi Metro Rail Corporation (DMRC) in a post on X. "A Memorandum of Understanding (MoU) was signed today between DMRC and NBCC (India) Limited to work together in the field of infrastructure development in India and abroad," it posted.

NHAI, GAIL join forces to simplify infrastructure expansion process

MoU signed to expedite crossing permissions, resolve disputes

Huge challenge upon us, need year to rebuild infrastructure: CM Sukhu

Himachal Pradesh will take a year to rebuild the infrastructure wrecked by the heavy rains this monsoon but the state is up to themountain-like challenge, Chief Minister Sukhvinder Singh Sukhu said on Wednesday. In an interview with PTI, he said the estimated damage in the two devastating spells of heavy rain this week and in July is about Rs 10,000 crore. Rains this week triggered landslides across the state, blocking roads and bringing down houses. About 60 people are dead, and more feared buried under the rubble. The chief minister said it takes time to rebuild roads and water projects. But the government is speeding up the process. We have to get the infrastructure fully restored within a year. I am working with this in mind. It's a big challenge, a mountain-like challenge. But we are not going to back away, he said. The state government will continue with its vision to make Himachal Pradesh self-reliant in four years and the country's most prosperous state in 10 years.But

Corruption in infra projects taking nation on 'highway to hell': Cong

The Congress on Tuesday cited a Comptroller Auditor General (CAG) of India report on the 'Bharatmala Pariyojana' highway projects to accuse the Prime Minister Narendra Modi-led government of corruption and said it is "taking the nation on a highway to hell". The opposition party also asked if Modi will take responsibility for the "incompetence and corruption in the Bharatmala projects under his direct watch". Citing the CAG report, Kharge said Modi should look within before harping on corruption by his political opponents. "BJP's corruption and loot is (are) taking the nation on a highway to hell," Kharge said on X, formerly Twitter. In a scathing report against the Modi government, he said, the CAG has pointed out that the 'Bharatmala Pariyojana' is being built with "innumerable deficiencies, non-compliance of outcome parameters, clear violation of tender bidding process and huge funding mismanagement". Kharge said the CAG has exposed that the "cost of this project was originally