Page 27 - Infrastructure

Banks raised record Rs 40,895 crore through infra bonds in Apr-Nov

The country's largest lender, State Bank of India (SBI), accounted for almost half of the amount mopped up via infrastructure bonds in the eight months of FY24

Vascon Engineers board approves plan to raise Rs 125 crore via QIPs

Vascon Engineers Ltd on Thursday said it is planing to raise Rs 125 crore through the Qualified Institutional Placement (QIP) route. A decision in this regard was taken at the meeting of its board of directors, Vascon Engineers Ltd said in a filing to the exchanges. The board has approved "raising of funds by way of issuance of such number of equity shares and/ or other eligible securities or any combination for an aggregate amount not exceeding Rs 125 crore or an equivalent amount thereof by way of qualified institutions placement," it said. The proposal is subject to the receipt of necessary regulatory/statutory approvals, as may be required, the company said. Further, the board also constituted a QIP committee and authorised it to decide the terms and conditions of the proposed fundraise for the issue and allotment of equity shares and/or other convertible securities.

Experts discuss diaster-resilient infra in mountains at global conference

Global experts, who had gathered here as part of the World Congress on Disaster Management, discussed multiple issues and challenges for creating diaster-resilient infrastructure in mountainous regions, an official statement said on Wednesday. The discussions were held as part of a special technical session steered by the Coalition for Disaster Resilient Infrastructure (CDRI). The sixth edition of the World Congress on Disaster Management was inaugurated here on Tuesday and the four-day event will conclude on December 1. The session, chaired by professor Anil K Gupta, focused on "challenges and solutions for building disaster-resilient infrastructure in mountains, emphasising sustainable development and technological innovation". The collaborative discussions aimed to shape actionable frameworks, integrating disaster resilience into infrastructure development for mountain terrains, the statement added.

Need to further strengthen ports infrastructure, increase efficiency: Murmu

President Droupadi Murmu on Monday said there is a need to further strengthen the infrastructure of ports in the country and increase their efficiency. Murmu said this while gracing the 'Boita Bandana' (boat worship) ceremony, organised by the Paradip Port Authority here. Boita Bandana is an annual festival observed in Odisha, remembering the ancient maritime glory of the state, earlier known as 'Kalinga'. Stating that the government's Sagarmala programme is a commendable step to strengthen the port activities, Murmu said the Government of India is working to realise the vision of 'Ports for Prosperity' and 'Ports for Progress'. The president said that maritime trade has been playing an important role in the trade and economic development of the country. "I am told that 95 per cent of India's total trade in terms of volume and 65 per cent in terms of value are done through sea transport," she said. Stating that India's ports need to function with greater efficiency in line with glo

Odisha CM approves 12 key projects with investment of Rs 84,918 crore

Odisha Chief Minister Naveen Patnaik has approved 12 key projects with a cumulative investment intent of Rs 84,918.75 crore. These projects will create employment opportunities for 42,281 people across various sectors, an official said. The investment proposals in apparel and textiles, green hydrogen and green ammonia, steel, power and renewable energy, chemical and petrochemical downstream sectors were approved at the High-Level Clearance Authority (HLCA) meeting chaired by the chief minister on Friday, the official said. These projects will be located across the state in the districts of Cuttack, Dhenkanal, Ganjam, Jajpur, Jharsuguda, Kendrapada, Malkangiri, Rayagada, Sambalpur and Sundargarh. In the apparel and textiles sector, Welspun Living Limited received the nod of the HLCA to establish an integrated textile and logistics facility at Choudwar in Cuttack district, with an investment of Rs 3,050 crore. The project has the potential to create employment for 20,210 people, an .

Uttarakhand tunnel incident spotlights safety in existing, future projects

Engineering companies expect the incident to spotlight safety as a major aspect in future tunnel projects in India

Odisha govt's nod for 8 investment projects worth over Rs 1,397 crore

The Odisha government has approved eight projects with a total investment proposal of over Rs 1,397 crore in six districts, a statement said. These projects will generate employment opportunities for 2,860 people in the state. The State Level Single Window Clearance Authority on Friday gave its nod to eight proposals with a total investment of Rs 1397.18 crore, the statement said. The government has green-lighted the proposal of Sintex BAPL Ltd to set up a plastic pipes and tank manufacturing unit in Sambalpur district with an investment of Rs 479.47 crore. Hindalco Industries Ltd's plan to invest Rs 241.05 crore to build a white-fused alumina manufacturing unit in the same district got a go-ahead from the administration. The authority gave its nod to the proposal of HIL India to invest Rs 250 crore to set up a pipe manufacturing unit in Balasore. The state government also approved the proposals of Mega Flex Plastics Ltd (Rs 62.38 crore), Sandhu Tubes Pvt Ltd (Rs 99.54 crore), KA

IPEF member countries conclude negotiations for two more pillars

Under the proposed Agreement, the IPEF partners also would establish a new CBF to enhance each other's capabilities to effectively implement all aspects of the proposed Agreement

Only 26% of organisations in India are prepared to deploy AI: Cisco Study

Ninety-five per cent of businesses globally are aware that AI will increase infrastructure workloads

U'khand tunnel collapse: 'American Auger' to be used to save 40 trapped

Drilling to create a passage for 40 workers trapped in an under-construction tunnel that collapsed four days back will resume soon with a new heavy machine, which was flown in from Delhi, officials said here. The 'American auger' machine was airlifted in parts by three IAF transport aircraft on Wednesday to replace the "failed" equipment which was being used earlier to create the passage. These were then brought from the Uttarakhand's Chinyalisaur airport, over 30 kilometres from the Silkyara tunnel on the Char Dham route, and assembled at the site. Installation of the heavy equipment is almost complete and drilling will resume soon, the officials said. The process of installing the new machine began at 11 pm on Wednesday. The labourers are safe, and oxygen, electricity, medicines, food items and water are being constantly supplied to them through pipes, they said. "Ninety-five per cent of installation work is complete," Navayuga Engineering Company Public Relations Officer G L Nat

Centre gave Rs 571 cr for infra in tribal villages in Gujarat: CM Patel

Gujarat Chief Minister Bhupendra Patel on Wednesday said the state has so far received Rs 571 crore from the Union government for providing basic infrastructure in tribal-dominated villages under the Pradhan Mantri Adi Adarsh Gram Yojana. He was speaking at a gathering in Ambaji town of tribal- dominated Danta taluka in Banaskantha district on the occasion of Janjatiya Gaurav Diwas and launch of the 'Viksit Bharat Sankalp Yatra'. "The Centre under Prime Minister Narendra Modi has allotted Rs 571 crore for developing basic infrastructure in 2,803 tribal-dominated villages of Gujarat under the Pradhan Mantri Adi Adarsh Gram Yojana," Patel said. To strengthen healthcare facilities in tribal areas, the state government recently approved the setting up of medical colleges in Dahod, Valsad, Banaskantha and Navsari districts, the chief minister noted. "Prime minister Modi has shown the path for the welfare and development of tribals living in the areas ranging from Ambaji to Umargam, from

PM Modi unveils projects worth around Rs 7,200 crore for Jharkhand

Prime Minister Narendra Modi on Wednesday unveiled projects worth around Rs 7,200 crore for Jharkhand including rail, road, education, coal, petroleum and natural gas here. The projects inaugurated include the new campus of IIM-Ranchi, a new hostel of IIT-ISM Dhanbad, Petroleum Oil and Lubricants (POL) depot in Bokaro, doubling of railway tracks in the Hatia-Pakra, Talgaria-Bokaro and Jarangdih-Patratu sections. The projects for which foundations will be laid include the four-laning of the 52-km stretch of the Mahagama-Hansdiha section of NH-133, four-laning of the 45-km stretch of Basukinath-Deoghar section of NH-114 A, KDH-Purnadih Coal Handling Plant and a new academic and administrative building of IIIT-Ranchi.

Why the public charging infra needs to catch up with the rise of EVs

According to data from OMI Found­at­ion's EV dashboard, India has 10,185 charg­ing stations comprising 17,094 charging points

CESC net profit rises to Rs 363 crore in Sep qtr on higher revenues

CESC Ltd on Wednesday posted a nearly 14 per cent rise in its consolidated net profit to Rs 363 crore in the September quarter, mainly on the back of higher revenues. The consolidated net profit of the company was Rs 319 crore in the quarter ended September last year, according to a regulatory filing. Total income of the company rose to Rs 4,414 crore in the quarter from Rs 3,977 crore in the same period a year ago. The company's board of directors has also considered exploring the possibilities of substantial investments in renewable energy generation space (up to 3 gigawatt) through its subsidiaries in more than one state in India to increase the company's renewable footprint and partially meet the renewables purchase obligations of its distribution business, the filing said.

Shree Cement beats profit view in Jul-Sep quarter on strong infra demand

According to a Jefferies' pre-earning note, cement prices during the quarter increased ~0.5-1% at the all-India level, with the rates rising the most in the country's eastern region

Mizoram to go for polls tomorrow; Mizo 'identity', infra key issues

The main contest in the state, with almost all its seats reserved for STs, is between the ruling MNF, Congress, and Zoram People's Movement with the BJP keen to emerge as "king maker"

Utility Sempra reports Q3 profit beat on infrastructure unit strength

The segment got a boost from increasing global interest in lower emissions fuels

India becoming favoured destination for FDI in infrastructure sector: Govt

Financial Services Secretary Vivek Joshi has said that India is becoming a favoured destination for Foreign Direct Investment (FDI) in the infrastructure sector as government has taken many supportive measures. Speaking at an event organised by the India Infrastructure Finance Company Ltd (IIFCL) in London, Joshi said flagship initiatives like the National Infrastructure Pipeline, Gati Shakti, Sagarmala, Bharatmala, UDAN and Maritime India Vision 2030, among others, have created a lot of opportunities in the infrastructure sector. The event, organised by IIFCL on October 30, saw participation of investors and other stakeholders from India and the UK. They also discussed potential avenues of investment in India's rapidly growing infrastructure sector. IIFCL Managing Director P R Jaishankar said the company is driving the government' goals for a robust all-round infrastructure development in the country covering all sub-sectors, including road, railways, energy (including renewable ..

PM Gati Shakti: 4 projects worth Rs 23,500 crore recommended for approval

Four infrastructure projects of roads and railways worth Rs 23,500 crore have been recommended for approval under the PM Gati Shakti initiative. These projects were assessed in the 58th Network Planning Group (NPG) meeting on October 17. "Road and railway projects for multimodal connectivity with project cost of more than Rs 23,500 crore were discussed in the NPG," the commerce and industry ministry said in a statement on Wednesday. The meeting was chaired by Special Secretary (Logistics), Department for Promotion of Industry and Internal Trade (DPIIT), Sumita Dawra. She requested the ministries to incorporate the area development planning approach in project planning and have the interactions with states, which should ensure identification of infrastructural gaps and promote integrated planning. 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

France announces 100 mn euro loan to support India's Smart Cities Mission

The loan supports India's innovative flagship Smart Cities Mission and builds on the CITIIS 1 programme, also supported by the European Union