Page 27 - Infrastructure

Bangladesh to launch 3 major infrastructures with Indian aid in September

Bangladesh is set to launch three major infrastructure projects, including a power plant, under India's financial assistance in September, a senior official said on Tuesday after the Indian High Commissioner here called on the country's Prime Minister Sheikh Hasina. Indian High Commissioner in Dhaka Pranay Verma called on Prime Minister Hasina at her Ganobhaban official residence and discussed issues such as the Taka-Rupee exchange system between Bangladesh and India, connectivity, and ongoing projects under the Indian Line of Credits and grants. During the meeting, both the Bangladesh prime minister and the Indian envoy expressed satisfaction over the state of the bilateral relations, Bangladesh premier's press secretary Ihsanul Karim said. Sheikh Hasina wished India will raise voice, particularly for the Global South alongside the entire world, during the upcoming G20 Summit in New Delhi, Karim said. A spokesman at Bangladesh premier's office said Verma informed Hasina that two .

FM suggests AIIB to use innovative financing ways to address infra needs

Finance minister Nirmala Sitharaman on Sunday suggested the Asian Infrastructure Investment Bank (AIIB) to use innovative financing ways to better address infrastructure needs of member countries. Sitharaman met Jin Liqun, President, AIIB, in Gandhinagar on the sidelines of the 3rd G20 Finance Ministers and Central Bank Governors #G20FMCBG meeting and discussed the role of #MDBs, including @AIIB_Official in addressing the current global developmental challenges. "While discussing issues of relevance to India and @AIIB_Official, FM Smt. @nsitharaman suggested that @AIIB_Official should further use innovative financing and financing instruments so as to better address the #infrastructure requirements of member countries," the finance ministry tweeted. While appreciating AIIB's support for #G20India Presidency, the minister highlighted the need for #MDB reforms and the importance of coordination and collaboration among #MDBs. "Being the Governor of second largest shareholder of ...

Himachal suffered losses of about Rs 8,000 crore due to rain: CM Sukhu

Himachal Pradesh has suffered losses of about Rs 8,000 crore as heavy rains wreaked havoc in the hill state, triggering landslides and flash floods and damaging roads and other infrastructure, Chief Minister Sukhvinder Singh Sukhu said on Saturday. According to the state emergency response centre, the losses amounted to about Rs 4,000 crore till Friday night and Sukhu had sought an interim relief of Rs 2,000 crore from the Union home ministry. About 70,000 tourists have been evacuated from the state and 15,000 vehicles sent out, while around 500 tourists have voluntarily decided to stay back, Sukhu said in a statement issued here. Some tourists stuck at Kasol, Manikaran and other adjoining areas in Kullu district refused to move out without their vehicles and have decided to stay back for a few more days till the situation normalises and all roads are opened. Due to a heavy landslide near Dunkhara on the Kasol-Bhuntar road, the vehicles could not be moved and the tourists had to tr

Man Infra bags Rs 680-cr contract from JNPT vendor PSA International

Man Infraconstruction has bagged a Rs 680-crore EPC order from Bharat Mumbai Container Terminal to construct the fourth container terminal at the Jawaharlal Nehru Port (JNPT). Bharat Mumbai Container Terminal is a subsidiary of PSA International, a Singaporean port group. PSA is working with JNPT to develop the second phase of the fourth container terminal, and the contract includes land reclamation and infrastructure development. The contract is to finish the infra work within 30 months, Man Infra, a city-based EPC and realty company, said in a statement. Manan Shah, the managing director of Man Infra, said his company had executed the first phase of infra work for the terminal earlier within 22 months. Publicly-traded Man lnfra has zero debt and had Rs 1,890 crore in revenue from which it earned a net profit of Rs 258.6 crore in FY23. Its EPC division has six decades of experience in ports, residential, commercial & industrial and road segments, and the realty division has ...

Agri ministry asks banks to promote Rs 1 trillion Agriculture Infra Fund

The Agriculture Ministry on Wednesday asked banks to promote Rs 1 lakh crore Agriculture Infrastructure Fund (AIF) for creation of necessary infrastructure in the farm sector. The AIF is a financing facility launched on July 8, 2020 for creation of post-harvest management infrastructure and community farm assets. Under this scheme, Rs 1 lakh crore is to be disbursed by financial year 2025-26 and the interest subvention and credit guarantee assistance will be given till the year 2032-33. According to an official statement, Agriculture Secretary Manoj Ahuja on Wednesday launched a new campaign for banks under Agri Infra Fund titled BHARAT (Banks Heralding Accelerated Rural & Agriculture Transformation). "This one month-long campaign (from July 15 to August 15) with a target of Rs 7,200 crore was launched through video conference attended by more than 100 banking executives that included MDs/Chairman, EDs of commercial banks in public and private sector, Regional Rural Banks, Small ..

Ground beneath us is heating up, civil infra not designed for it: Study

The ground beneath us is heating up, giving rise to the phenomenon of "underground climate change" and our civil infrastructure was not designed for it, scientists say. The continuous heat diffusion from buildings and underground transportation, seen in many urban areas around the world, causes the ground to warm at an alarming rate, found to be 0.1 to 2.5 degrees Celsius per decade by researchers. The heating up of ground leads to its deformation that includes both expansion and contraction, causing building foundations and the surrounding ground to move excessively and sometimes develop cracks, thereby impacting structures' long-term performance and durability. "The ground is deforming as a result of temperature variations, and no existing civil structure or infrastructure is designed to withstand these variations," said Northwestern University's Alessandro Rotta Loria, an assistant professor of civil and environmental engineering, and who led the US-based study published in the .

Rushed green nod, poor planning in focus as rains wash away hill roads

Another major concern, according to experts, is the way these projects are awarded

PM Modi offers prayers at Bhadrakali temple in Telangana's Warangal

Prime Minister Narendra Modi on Saturday offered prayers at the famous Goddess Bhadrakali temple here during his visit to this historic Telangana town to lay the foundation stone for several infrastructure development projects worth around Rs 6,100 crore and address a public meeting. Modi, who was accompanied by Union Tourism Minister and newly-appointed Telangana BJP president G Kishan Reddy and other leaders, offered prayers at the temple. Earlier in the day, the PM arrived in Hyderabad by a special aircraft and reached Warangal in a chopper. Before leaving for Warangal Modi tweeted: Leaving for Warangal to attend a programme where we will inaugurate or lay the foundation stone for development works worth over Rs. 6100 crores. These works cover different sectors ranging from highways to railways. They will benefit the people of Telangana. Alleging that the NDA government at the Centre has been "anti-Telangana" in the last 9 years, ruling BRS Working President K T Rama Rao had sai

Rajasthan govt to spend Rs 200 crore to ramp up infra in industrial hubs

However, a state-based trade body is not happy with the development being undertaken in industrial areas

PM Modi to launch projects worth Rs 6,100 cr in Telangana tomorrow

Prime Minister Narendra Modi will lay the foundation stone for several crucial infrastructure development projects worth around Rs 6,100 crore in Warangal on Saturday, according to official sources. Modi would visit the famous Bhadrakali temple in the district before attending the events and would also address a public meeting, they said. This would be Modi's third visit this year to the poll-bound state. He earlier visited Telangana in January and April. Newly appointed state BJP president and Union Minister G Kishan Reddy along with senior leaders left for Warangal today to oversee the arrangements for the Prime Minister's programmes, party sources said. As part of the programme, the Prime Minister will also lay the foundation stone of the railway wagon manufacturing unit, Kazipet to be developed at a cost of over Rs 500 crore. The modern manufacturing unit will have enhanced wagon manufacturing capacity. It will help in local employment generation and development of ancillary un

Steel demand to grow on supportive policy reforms: Tata Steel Chairman

The demand for steel in the country is expected to grow owing to infrastructure development, rapid urbanisation, and supportive policy reforms, Tata Steel Chairman N Chandrasekaran said on Wednesday. Speaking at the company's 116th annual general meeting, he said that domestic steel consumption rose 10 per cent year-on-year (y-o-y) to 117 M in FY23. The steel industry was also impacted by the volatility in the global environment, which affected the steel demand-supply balance and resulted in volatility in steel prices. However, India appears to be an exception in the global steel arena, primarily owing to robust government spending and vibrant consumption, he said. "India's steel consumption grew by over 10 per cent y-o-y to 117 MT (Million Tonnes) in FY23. "India will continue to remain a major consumer within the global steel industry owing to infrastructure development, rapid urbanisation, and supportive policy reforms. We expect the steel demand growth to keep pace with the GD

Third G20 infra working group meet focuses on 'creating liveable cities'

A "high-level seminar on creating liveable cities", organised by the Indian presidency and Asian Infrastructure Investment Bank, complemented the meeting

At 23% spend, Andhra Pradesh leads laggards in state capex in FY23

Most large states have fallen behind their budgeted capex targets by a wide margin in FY23, which was pegged at Rs 7.4 lakh crore but could spend only Rs 5.71 lakh crore or 76.2 per cent only, according to an analysis. Only four states -- Karnataka, Sikkim, Arunachal and Bihar -- have over-achieved their targets, while Jharkhand and Madhya Pradesh's capex spending stood at 98 per cent each. Eleven states fared better with 80 per cent target achievements, as per the analysis by Bank of Baroda economists. As against this, in FY21, the underachievement level was a high 72 per cent, primarily due to the pandemic emergency spending, and had improved to 95 per cent in FY22. Surprisingly, none of the 25 states whose data are available has been able to achieve the target by even three-fourths as the peak success rate is only 72.4 per cent, according to the analysis. This is surprising as the Centre had disbursed the required amounts for the year. The poor show was led by Andhra, which cou

Kotak Mahindra Bank raises Rs 1,895 crore through infrastructure bonds

Gets bids worth Rs 3,605 cr

GatiShakti must be leveraged to benefit sectors beyond infra: Piyush Goyal

He highlighted that the area development approach under PM GatiShakti can be used for engaging with aspirational districts of NITI Aayog

Nine years of gati, pragati: PM hails govt works in infrastructure sector

Prime Minister Narendra Modi on Thursday said his government in the last nine years has nurtured the roots of growth and development in India, shaping an infrastructure landscape that is unparalleled. He said every sector has witnessed swift advancement, setting the stage for a developed India. The prime minister's remarks on Twitter with the hashtag '9YearsOfGatiAndPragati' come amidst the BJP organising various programmes across the country as part of a mega public outreach to mark nine years of the Modi government. "In #9YearsOfGatiAndPragati, we nurtured the roots of growth and development in India, shaping an infrastructure landscape that is unparalleled. Every sector has witnessed swift advancement, setting the stage for a developed India," Modi said in a tweet. The prime minister also shared write-ups on his government's achievements in the infrastructure sector.

Infrastructure Finance Secretariat launches new website for investments

The Infrastructure Finance Secretariat (IFS) under the Finance Ministry has launched a revamped website to attract private investment in the infra sector. As part of this endeavour, the IFS has revamped its website (www.pppinindia.gov.in) for its enhanced value to the stakeholders involved in PPP projects, the Finance Ministry said in a statement on Wednesday. The website is dedicated to promoting and facilitating public-private partnerships (PPPs) in India and helping in bridging the gap between the public and private sectors, it said, adding it serves as a digital platform that brings together government entities, private companies, investors and entrepreneurs fostering collaboration and innovation for sustainable growth. The IFS, in its endeavour to usher in private investment in infrastructure, is constantly introducing interventions to set up an enabling ecosystem for infrastructure development and delivery, it said. To promote the Digital India initiative, the IFS has launche

Indian cos look at $176 bn investment in Africa's infra development: Afcons

Indian infrastructure firms are looking at an annual investment of USD 130-176 billion in Africa for infrastructure development, Afcons Managing Director S Paramasivan said on Wednesday. Addressing the 18th CII-EXIM Bank Conclave on India-Africa Growth Partnership, Paramasivan pointed out that there is a funding deficit to the tune of USD 60-160 billion on infrastructure development in Africa, and there is scope for further investment in multiple areas. "Most of us failed to notice, last one decade practically Africa had consistently had an investment of an average of USD 80 billion per year, which I rate as very very significant," he noted. He pointed out that nearly 47 per cent of investments in infrastructure happened between South and East Africa, while about 44 per cent of investments were in East and West Africa. About eight per cent of investments were done in Central Africa, he added. "If you look at sectoral distribution (of investments), energy comes on the top. Next com

India, Bangladesh to initiate 5 development projects for border population

The border guarding forces of India and Bangladesh have taken a "momentous" decision to initiate joint civil works on five development projects along the 4,096 kms of shared boundary which will help the local population on both sides, a senior officer said Wednesday. At the end of their four-day biannual border talks conference that began on July 11 in Delhi, the Border Security Force (BSF) and the Border Guard Bangladesh (BGB) also said they are working independently and jointly to "reduce" the instances of killing of Bangladeshi nationals in the boundary area. The issue of these killings, which the BSF has linked to miscreants and smugglers either attacking its personnel or indulge in other cross-border crimes, has been a major irritant between the two neighbours. The 53rd edition of the conference was led by the chiefs or directors general (DsG) of the BSF and the BGB and ended with the signing of a 'joint record of discussions' at a BSF camp located in Chhawla area of the nation

Dalmia Bharat lines up Rs 19K cr to battle Adani, UltraTech Cement

Housing, infra push to raise demand for cement, according to MD and CEO Puneet Dalmia