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Infrastructure

PMRDA to start work on ring road by October 27 May 2017

The Pune Metropolitan Region Development Authority (PMRDA) is all set to start work on the INR 17,412-crore ring road by October this year as it has appointed an agency to prepare the detailed project report (DPR) for the project.

Kiran Gitte, CEO and metropolitan commissioner of PMRDA said that “A DPR for the the 129-km ring road should be ready in four months as agency has been appointed for the purpose.”

The PMRDA has made a budgetary provision of INR 400 crore for the ring road project and the state government is to match with the same amount.

“The tenders for work can be issued for around INR2,000 crore worth projects from availab...

Chhattisgarh CM gives nod for Raipur-Vizag highway 24 May 2017

Chhattisgarh Chief Minister (CM) Raman Singh has given an in-principle nod for connecting state capital Raipur to Visakhapatnam in Andhra Pradesh via a new road route.

The neighbouring state’s Chief Minister N Chandrababu Naidu has proposed to link the two major cities through a national highway.

An official here said that “While chairing a review meeting of the state’s Public Works Department (PWD) here on Monday, Singh had a detailed discussion on the proposal.”

The official said that the department officials informed him that the Andhra Pradesh government had proposed to link Raipur to Vizianagram-Vishakhapatnam through a new ...

Highway projects worth INR 5 lakh crore planned in 2 yrs 22 May 2017

The Government has set an ambitious target of awarding INR 5 lakh crore worth of highway contracts, totalling about 50,000 kilometer (km), in the last two years of its tenure, surpassing the cumulative road length awarded for paying in the last five years.

Road Transport and Highways Minister Shri Nitin Gadkari said that the contracts will be for 44 Economic Corridors and 10 Expressways.

Gadkari added that "We have planned several projects that would be very crucial for overall development of the Country. These new highways would decongest the existing roads, bringing down logistics cost by 5-6%.”

"My Ministry's vision is that a frei...

Larsen & Toubro bags INR 300 cr order from Japan 20 May 2017

The joint venture between India’s Larsen & Toubro (L&T) and Japan’s Mitsubishi Hitachi Power Systems Limited, L&T-MHPS Boilers Private Limited (LMB), has secured export orders worth around INR 300 crore from the Japanese thermal power generation company.

The order placed by Mitsubishi Hitachi Power Systems (MHPS), itself a joint venture formed in 2014 by Mitsubishi Heavy Industries and Hitachi, to Indo-Japanese LMB consists of pressure parts to 2x1000 MW and 1x650 MW power plants in Indonesia and Japan, respectively.

The LMB is joint venture formed by L&T and MHPS in 2006 where Indian company holds 51% equity and Japanese company holds ...

NHAI signs MoU with TIDCO 19 May 2017

The National Highways Authority of India (NHAI) today signed an memorandum of understanding(MoU) with the Tamil Nadu Industrial Development Corporation Limited (TIDCO)for developing a multi-modal logistics park in Chennai.

The park will come up in Ponneri Industrial Node near Kamarajar Port.

Highways and Shipping Minister Nitin Gadkari said in a press release that it is an important agreement for the development of an integrated, multi-modal transport infrastructure in the country.

The Ministry of Road Transport and Highways plans to develop such parks under its Logistics Efficiency Enhancement Programme (LEEP) in 15 locations at a cost of INR 33,000 cr...

Multimodal logistics park to come up near Kamarajar Port 17 May 2017

The National Highways Authority of India (NHAI) has signed a MoU with the Tamil Nadu Industrial Development Corporation Limited (TIDCO) for the development of a Multimodal Logistics Park in the Ponneri Industrial Node area near Kamarajar Port in Tamil Nadu.

The agreement was inked in New Delhi on Monday in the presence of the Road Transport and Highways and Shipping Minister Nitin Gadkari and M. C. Sampath, Minister for Industries, Tamil Nadu. Speaking on the occasion, Gadkari said it is an important agreement for the development of an integrated, multimodal transport infrastructure in the country.

A release said that the Ministry of Road Transport and Highways pl...

NHAI signs MoU with TIDCO 16 May 2017

The National Highways Authority of India (NHAI) a today signed an memorandum of understanding (MoU) with the Tamil Nadu Industrial Development Corporation Limited for developing a multi-modal logistics park in Chennai.

The park will come up in Ponneri Industrial Node near Kamarajar Port. Highways and Shipping Minister Nitin Gadkari said in a press release that it is an important agreement for the development of an integrated, multi-modal transport infrastructure in the country.

The Ministry of Road Transport and Highways plans to develop such parks under its Logistics Efficiency Enhancement Programme (LEEP) in 15 locations at a cost of INR 33,000 crore, including ...

Ashoka Buildcon bags project worth INR 283 cr 12 May 2017

Ashoka Buildcon Limited has bagged a INR 282.73-crore project from Jharkhand Bijli Vitran Nigam Limited for urban electrification works in Jharkhand.

Ashoka Buildcon said in a BSE filing today, “The company is in receipt of Letters of Intent from Jharkhand Bijli Vitran Nigam Limited (JBVNL) for the projects viz. execution of urban electrification works for Ranchi and Medininagar towns in the state of Jharkhand and electric supply area covering 12 towns in Jharkhand under Integrated Power Development Scheme (IPDS).”

IPDS is the flagship programme of the Government of India, Ministry of Power, and funded by Power Finance Corporation.

The compa...

Infrastructure contracts for DMIC project to be awarded soon 11 May 2017

Infrastructure development contracts worth INR1,400 crore are up for grabs at the upcoming Delhi Mumbai Industrial Corridor industrial township project in Maharashtra.

Aurangabad Industrial Township Limited (AITL) has kick-started development work at the upcoming Bidkin industrial zone near Aurangabad.

The contracts to build infrastructure such as roads, bridges and telecommunications will be awarded in 15 days, a Senior Government Official said.

Gajanan Patil, Joint Managing Director, AITL said that “We are at an advanced stage of awarding the contracts.”

“We want the first phase of the Bidkin part of the project to be comp...

IL&FS Transportation arm re-finances INR 1,730 cr debt 09 May 2017

IL&FS Transportation Networks Limited subsidiary Jharkhand Road Projects Implementation Company Limited has re-financed debt worth INR 1,730 crore through issuance of non-convertible debentures (NCD).

“Jharkhand Road Projects Implementation Company Limited, a subsidiary of the company, has re-financed its debt of INR 1,730 crore availed for the development of 5 road stretches in the state of Jharkhand by issue of non-convertible debentures.”

The company added that the NCDs carry a weighted average coupon rate of 9.4% per annum resulting in reduction of its interest cost by approximately 205 basis points.

Shares of the company were tradin...

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