Page 24 - Infrastructure

Odisha to spend Rs 2,000 cr to create disaster-resilient infrastructure

Odisha Chief Minister Naveen Patnaik on Sunday said his government has decided to spend more than Rs 2,000 crore to create disaster-resilient infrastructure in various parts of the state. Addressing a gathering virtually at a function at Rabindra Mandap here on the occasion of Odisha Disaster Preparedness Day 2023, he said the government was giving priority to resilient infrastructure and state-wide risk mapping would be undertaken for various disasters. Today, we assemble here to deliberate on our disaster preparedness. We remember the valuable human lives lost during the super cyclone 1999. Since then, we have made significant strides in making Odisha safer during disasters. Today, we are a model for other states and countries to follow, Patnaik said. Noting that the state's efforts for effective disaster management have received wide acclaim, the chief minister said Odisha has been bestowed with the prestigious 'Nataji Subash Chandra Bose Apadaa Prabandhan Puraskar' for 2023 by

Jogging on a treadmill: The tale of India's charging infrastructure

Bankability biggest hurdle for public charging stations over low usage, indefinite breakeven period

BAM Digital Realty appoints CB Velayuthan as Chief Executive Officer

BAM Digital Realty, a joint venture between Brookfield Infrastructure and Digital Realty, on Monday announced the appointment of C B Velayuthan as its chief executive officer. BAM Digital Realty in July had announced that Reliance Industries would be joining the entity as an equal partner to form a three-way joint venture. The deal is currently under regulatory approval. The new entity will operate under the brand name Digital Connexion: A Brookfield, Jio and Digital Realty Company when finalized. Velayuthan will lead the India team to deliver on the digital infrastructure needs of this rapidly growing market, becoming a full product spectrum digital infrastructure provider that can support the capacity and connectivity requirements of cloud service providers, hyperscalers and enterprise customers in India and across the world, BAM Digital Realty said in a statement. Velayuthan joins BAM Digital Realty from Equinix as their Global Managing Director of Strategic Alliances. Previousl

Genus Power Infrastructures arm bags order worth Rs 3,121.42 crore

Genus Power Infrastructures said that there is a possibility of seeing a "consistent and noteworthy surge" in order volumes over the upcoming quarters of the financial year 2023-24

IMF proposes Pakistan to adopt austerity in new development projects

The IMF suggested that Pakistan's caretaker government should allocate funds for ongoing projects, especially those near completion, instead of starting new ones, as per ARY News

Best of BS Opinion: Need for pragmatism, tackling urban poverty & more

Here is the best of Business Standard's opinion pieces for today

Infrastructure push

The ambition will need policy support

Jharkhand gives nod to ambitious Rs 16,320 cr housing project for needy

The Jharkhand government on Wednesday gave its nod to the ambitious Rs 16,320 crore project for building 8 lakh houses for the needy by March 31, 2026, as promised by Chief Minister Hemant Soren on August 15. Two lakh people will be provided houses in the ongoing fiscal, followed by 3.5 lakh in the next fiscal and 2.5 lakh in the financial year 2025-26 at an expenditure of Rs 4,107 crore, Rs 7,107 crore and Rs 5,107 crore respectively, an official said. "The Jharkhand Cabinet meeting chaired by Chief Minister Hemant Soren gave its nod to 'Abua Awas Yojna (AAY) under which 8 lakh houses will be built by March 31, 2026," the official said after the cabinet meeting. The state government has made a provision for a clean kitchen with three rooms under AAY at a total investment of Rs 16,320 crore, the official said. Hoisting the national flag at the Morabadi Ground here on the 77th Independence Day, Soren had announced: "I had promised three-room houses for all in the state. In the comin

India to spend Rs 143 trillion in infrastructure by 2030, says Crisil

Green investments will also see a five-fold rise from the past seven years to Rs 36.6 trillion

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