There is potential to award over 500 kilometer (km) of new road projects at an estimated cost of INR 10,000 crore in Tamil Nadu in the current year, according to Minister of State for Road Transport, Highways and Shipping, Pon Radhakrishnan.
The estimate by the Minister followed a review meeting of National Highway projects in the State, and the status of various issues relating to award of contract such as clearances and land availability.
The Minister has set a construction target of 180 km of new roads and widening of existing roads.
On the revival of the Maduravoyal-Chennai Port elevated road project following the approval of the State government fo...
The company said in the statement, Udaipur Tollway Private Limited, a Special Purpose Vehicle (SPV) of IRB Infrastructure Developers has achieved financial closure for its Udaipur – Gujarat Border 6 Laning BOT project that is had bagged last year by offering the premium of INR 163.80 crores to NHAI.
After achieving the financial closure, the SPV can commence construction soon.
The total project cost is INR 2,088 crore, out of which INR 627 crore will be an equity contribution by the road developer and remaining will be funded by the consortium of lenders led by Canara Bank with average cost of around 10.65per annum.
Other lenders of the project in...
IRB Infrastructure Developers today said its SPV Udaipur Tollways has achieved financial closure for INR 2,088 crore highway project on Rajasthan- Gujarat border.
Udaipur Tollway Private Limited, a special purpose vehicle (SPV), has successfully achieved financial closure for its Udaipur- Gujarat border six-laning BOT (build, operate, transfer) project, IRB Infrastructure said in a BSE filing.
The company said that "The SPV, in terms of the concession agreement, executed with the National Highways Authority of India (NHAI) has tied up with the consortium of lenders for project finance to the tune of INR 1,461 crore.”
The project involves six-...
The traffic-stricken Silk Board Junction is likely to be decongested by 2020. The BBMP and the BMRC on Friday mutually agreed to share the cost to build an integrated flyover and metro track from Silk Board Junction to Ragigudda Temple in Jayanagar 9th Block.
The four-lane flyover, which was announced in the state budget of 2016-17, will span roughly 4 kilometer (km) between the two points on the Outer Ring Road in south Bengaluru and is estimated to be worth INR 330 crore.
"The Palike has agreed to pay INR 100 crore to BMRC towards the project cost and the latter will execute the entire project,” said BBMP commissioner N Manjunath Prasad. However, the ...
Union Minister Jayant Sinha said, the country will require an investment of INR 2-3 lakh crore over the next 10-15 years for setting up new airports and adding capacity at the existing ones.
According to Minister of State for Civil Aviation Jayant Sinha, Aviation is going to be one of the major sectors that will drive economy going forward, and some 150-200 airports are needed for 90% of the population to be within 60- 90 minutes away from an aerodrome.
"We have to add more airport capacity as well as airspace capacity. Over the next 10-15 years, our estimation is that somewhere between INR 2-3 lakh will be required to have new airports and in adding capacity...
GMR group plans to bid for airport projects in Serbia and Jamaica as it seeks to expand its airports business to more overseas countries.
The group, which operates the Delhi and Hyderabad airports and won the bid to build Goa's second airport last year, is also developing Mactan Cebu international airport in the Philippines in partnership with Megawide Construction Corporations.
GMR Airports President Sidharth Kapur said, "We are bidding for Belgrade and Jamaica airport.”
He said that the company has qualified to bid for the expansion and modernisation of Nikola Tesla Airport of Belgrade in Serbia and Kingston Airport in Jamaica.
L&T’s construction division bagged orders worth INR 2,231 crore, the company said in a regulatory filing on Monday.
The filing said, The company has won a turnkey order worth INR 1,324 crore from Andhra Pradesh Township Infrastructure Development Corporation for the construction of 22,000 residential buildings in the West Godavari District of Andhra Pradesh as part of Pradhan Mantri Awas Yojana (PMAY) housing scheme.
Other orders worth INR 540 crore include building a section of transmission line for Power Grid Corporation of India and developing a 50-MW grid connected Solar PV project in Tamil Nadu for NHPC.
L&T’s construction divis...
Indian Port Rail Corporation Limited (IPRCL), a firm formed under the Sagarmala initiative with a mandate to improve port connectivity, has identified 15 rail over-bridge and under-bridge projects for construction to improve evacuation of port cargo.
IPRCL is an organization under the Shipping Ministry with stakes held by several ports. These are basically flyovers that cost about INR 100 crore each.
The rail bridge projects were earlier implemented under the Railway Ministry. Anoop Kumar Agrawal, Managing Director, IPRCL said that “Some of the first few projects to be taken up include those near Machlipatnam, Krishnapatnam, Kandla port and New Mangalore Por...
The government today approved four-laning of a road stretch to be developed at an estimated cost of INR 2,776-crore in Himachal Pradesh.
The decision on the same was taken at the Cabinet Committee on Economic Affairs (CCEA) meeting, chaired by Prime Minister Narendra Modi.
The Ministry of Road Transport and Highways said in a statement, the CCEA has given its "approval for development of 4 laning from 'end of Pandoh Bypass to Takoli' section of National Highway (NH)-21 in Himachal Pradesh.” It said that
The project will help in expediting the improvement of infrastructure in Himachal Pradesh and in reducing the time and cost of travel...
GMR Airports Limited said that it has been selected to develop, operate and manage the new international airport of Heraklion at Crete in Greece in partnership with Greek infrastructure firm Terna SA.
This will be the second project to be handled by the subsidiary of GMR Infrastructure Limited in Europe, after it developed Istanbul’s Sabiha Gokcen airport.
The company said in a press release on Wednesday that it will be the designated airport operator in the consortium for this project.
It said that “The scope of the project involves design, construction, financing, operation, and maintenance and exploitation of the New Heraklion Crete Inter...