Page 3 - Road Projects

Govt saved banks from Rs 3 trn of NPAs by clearing road projects: Gadkari

The government on Tuesday claimed in the Rajya Sabha that it has saved Indian banks from Rs 3 lakh crore of NPAs by helping clear pending road projects in the country since 2014. Road Transport and Highways Minister Nitin Gadkari informed the Rajya Sabha that there are 415 road projects where 95 per cent of work is complete but have been categorised in the delayed projects category. He said the government would soon carry out state-wise monitoring of all such pending or delayed projects and help clear them at the earliest. "There are 415 projects where 95 per cent of work is complete and are termed as delayed projects. When our government came in 2014, there were projects worth Rs 3.85 lakh projects which were shut for various reasons," he told the house during Question hour. The minister was replying to a question about whether the government has any plan to restart the delayed or stalled road projects in the country and if a further action plan is being prepared after ascertainin

Maharashtra govt asks large infra firms to bid for Mumbai road projects

A company won project to build elevated road near Mumbai but municipal corporation cancelled the tender without explaining a reason

PM Modi to inaugurate Mumbai-Nagpur Samruddhi Expressway on Dec 11

Prime Minister Narendra Modi will inaugurate the Mumbai-Nagpur Samruddhi Expressway here on December 11, Maharashtra Deputy Chief Minister Devendra Fadnavis said on Saturday. The prime minister will inaugurate the completed stretch from Nagpur to Shirdi, while the remaining stretch of the expressway will be finished in the next six months, he said. The 'Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg' is a six-lane access-controlled highway. It is the second expressway in the state after Mumbai-Pune Expressway. "It is a matter of joy and pride for us that PM Narendra Modi will be inaugurating the Nagpur-Mumbai Samruddhi Expressway. He will inaugurate the 500-km stretch from Nagpur to Shirdi, which has been completed, and the remaining stretch will be completed in six months," the deputy chief minister said. A new economic corridor will come up on the expressway route, and 14 districts will be integrated and connected to the port through this expressway, he ...

Road, transport sector has maximum number of delayed projects: Govt report

The road transport and highways sector has the maximum number of delayed projects at 243, followed by railways at 114 and the petroleum sector at 89, showed a government report. In the road transport and highways sector, 243 out of 826 projects are delayed. In railways, out of 173 projects, 114 are delayed, while in petroleum sector, 89 out of 142 projects are delayed, as per the latest flash report on infrastructure projects for October 2022. The Infrastructure and Project Monitoring Division (IPMD) is mandated to monitor central sector infrastructure projects costing Rs 150 crore and above based on the information provided on the Online Computerised Monitoring System (OCMS) by the project implementing agencies. The IPMD comes under the Ministry of Statistics and Programme Implementation. The report showed that the Muneerabad-Mahaboobnagar rail project is the most-delayed project. It is delayed by 276 months. The second-most delayed project is the Udhampur-Srinagar-Baramulla rail

Order rebound could lead to uptick for road infrastructure players

NHAI has front loaded awards because there was a large number of awards in April 2022

Rs 3-trillion road projects to be completed in Northeast by 2024: Gadkari

Union Transport Minister Nitin Gadkari on Friday said that road projects worth around Rs 3 lakh crore will be completed in northeast by the end of 2024, in line with the BJP-led central government's commitment to improve connectivity the region. He also said that the Centre was ready to allocate projects worth another Rs 2 lakh crore for the region if issues related to land acquisition and forest clearances are timely resolved by the state governments. "If we take into account the projects that are underway or have been built, along with the upcoming ones, it would be worth around Rs 3 lakh crore. And all of these will be completed by 2024," Gadkari said, addressing a press meet here. Besides the major road projects, there are several projects being undertaken in the region for ropeways, bridges, logistics and wayside amenities, he added.

Gadkari approves Rs 68,000-cr road projects in four Northeastern states

Union Minister of Road Transport and Highways Nitin Gadkari on Wednesday approved a slew of new road projects, valued at Rs 68,000 crore, in four Northeastern states to make international standard surface connectivity. Addressing a late-night press conference after reviewing various national highway projects in the region, Gadkari said that new projects are worth Rs 50,000 crore for Assam, Rs 9,000 crore for Meghalaya, Rs 5,000 crore for Nagaland and Rs 4,000 crore for Sikkim were approved. "Our aim is to change the entire scenario of road transport in NE by 2024. We target to make roads of international standards in this region," he said.

Bharat Highways InvIT to raise Rs 3,000-crore through rupee-term loans

To retire debt of seven road projects that it will acquire

LIVE: Court orders blocking Congress' Twitter for copyright infringement

From Facebook parent Meta's large scale layoffs to Musk's threat to Twitter account impersonators, catch all the live updates from across the globe here

Haryana CM Manohar Lal Khattar inaugurates road projects worth Rs 141 crore

The Southern Peripheral Road (SPR) from Faridabad to the Delhi-Jaipur Highway is being strengthened and eight flyovers will be constructed, he said, adding that this project will cost about Rs 846 cr

NaBFID likely to make first fund commitment this financial year, says MD

It is looking at projects in transmission, energy, solar power and roads; is also eyeing a retail bond issuance

NHAI INvIT raises Rs 1,430 crore for funding acquisition of road projects

The National Highways Infra Trust (NHAI InvIT) has raised Rs 1,430 crore from domestic and international investors, through placement of its units, for part funding its acquisition of three road projects from NHAI, an official statement said. NHAI InvIT is the infrastructure investment trust sponsored by the National Highway Authority of India (NHAI) to support the government's National Monetisation Pipeline (NMP). Infrastructure Investment Trusts (InvITs) are instruments on the pattern of mutual funds, designed to pool money from investors and invest in assets that will provide cash flows over a period of time The Ministry of Road Transport and Highways (MoRTH) in a statement said the units have been subscribed by a gamut of institutional investors, including Canada Pension Plan Investment Board, Ontario Teachers' Pension Plan Board, State Bank of India, SBI Pension Fund, SBI Mutual Fund, IOCL Employee Provident Fund, L&T and Staff Provident Fund, among others. According to the ..

Gadkari announces projects worth Rs 7,000 crore for Uttar Pradesh

Union Road Transport and Highways Minister Nitin Gadkari on Saturday announced projects worth Rs 7,000 crore for Uttar Pradesh and said that by 2024, the road infrastructure of the state will be at par with that of the US. After the inauguration of the 81st session of the Indian Road Congress (IRC), Gadkari said a total of Rs 5 lakh crore will be invested on roads in Uttar Pradesh before 2024, an official release said. Stating that a gift of Rs 7,000 crore is being given to Uttar Pradesh, he said this includes the Shahabad bypass-Hardoi bypass of Rs 1,212 crore, Shahjahanpur to Shahabad bypass of Rs 950 crore, Moradabad to Kashipur National Highway (Rs 2,007 crore), 13 railway over bridges (Rs 1,000 crore), among others. Gadkari said that by 2024, the road infrastructure of Uttar Pradesh will be at par with that of America. For achieving the target of USD 5 trillion economy, as directed by Prime Minister Narendra Modi, the road network is most important, Gadkari said. The need of

Govt to raise Rs 2,500 crore for three road projects through capital market

The government will approach the capital market this month to raise around Rs 2,500 crore to fund three road projects, a senior official said on Monday. The money will be raised through Infrastructure Investment Trusts (InvITs), the government official added. "We will be approaching the capital market this month to raise around Rs 2,500 crore for the three road projects," he told PTI on the condition of anonymity. Infrastructure Investment Trusts (InvITs) are instruments on the pattern of mutual funds, designed to pool money from investors and invest in assets that will provide cash flows over a period of time. Last year, the National Highway Authority of India's first infrastructure investment trust raised more than Rs 5,000 crore. "NHAI InvIT attracted two international pension funds, Canadian Pension Plan Investment Board and Ontario Teachers' Pension Plan Board, which along with diversified DIIs invested units worth more than Rs 5,000 crore in InvIT portfolio, which has curren

Adani group to raise funds to acquire road projects from Macquarie

Two entities of Adani Enterprises Ltd -- Adani Road GRICL Limited (ARGL) and Adani Road Stpl Ltd (ARSL) - will together raise upto Rs 800 crore through non-convertible debentures (NCDs)

Govt to approach capital market this month to raise funds for road projects

Union Minister Nitin Gadkari on Thursday said the government will approach the capital market this month to raise funds for road projects. Addressing an event here, he said toll revenue of the NHAI will soar to Rs 1.40 lakh crore per annum in next three years from Rs 40,000 crore per annum currently. "This month, I will be approaching the capital market to raise funds for road projects...Our toll income is very good and NHAI's rating is AAA...I am 100 per cent sure that we will get a good response from the capital market," the Road Transport and Highways minister said. Gadkari said the insurance funds, pension funds have shown interest to invest in India's road projects because there is economic viability. Last month, he had said the money will be raised through Infrastructure Investment Trusts (InvITs), and there will be an investment limit of Rs 10 lakh for retail investors. The minister had also said the government will soon list InvITs on stock exchanges so that retail investo

Tatas all set to monetise road, ropeway projects; to raise Rs 6K crore

Tata Realty to raise Rs 6,000 cr as fresh debt

Cabinet approves Taranga Hill-Ambaji-Abu Rd rail line for improved mobility

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved Taranga Hill-Ambaji-Abu Road new rail line to provide connectivity and improve mobility, said Anurag Thakur

Govt will tap capital markets to fund road projects: Nitin Gadkari

The minister further said despite fears of global recession, there is no problem in funding infrastructure sector projects.

IndInfravit to buy 5 Indian road projects from Brookfield in $1.2 bn deal

India-based infra company Indinfravit is currently obtaining five Indian road projects from Canada-based major construction company Brookfield for a whopping $1.2bn