Prime Minister Narendra Modi today laid the foundation stone for the Rs 23,000 crore Purvanchal highway, saying it will transform the places it passes through.
Shipping Minister Nitin Gadkari never misses a chance to highlight the need to reduce India’s high logistics costs at every fora, but his Ministry appears to be looking in the other direction.
Interim Finance Minister Piyush Goyal on Monday said long-term bonds could be considered to ensure better cash flow for infrastructure projects.
Till recently, stocks in the road construction space had enjoyed a good run on the bourses, all thanks to the healthy award of contracts by the National Highways Authority of India (NHAI), which ensured revenue visibility for many companies, at least for the next couple of years.
Road developer and operator MEP Infrastructure announced that its four Special Purpose Vehicles (SPVs) have signed concession agreements worth Rs. 4,100 crore with the National Highways Authority of India (NHAI) on Wednesday.
The local rail network of Mumbai almost came to a standstill on Tuesday following incessant rain, flooding and a rail overbridge collapse in suburban Mumbai. Lakhs of commuters were stranded, throwing life completely out gear in the megapolis.
GMR Infrastructure Ltd has been chosen the successful bidder under the Swiss Challenge model to develop a greenfield commercial port in Andhra Pradesh. The proposed port will be located about 30 km north of Kakinada and is to be developed as an all-weather, deep draft, multi-cargo facility.
India continues to oppose the China-Pakistan Economic Corridor (CPEC), a part of Beijing’s One Belt One Road (OBOR) initiative, as it “encroaches” on sovereignty and territorial integrity, a senior government official has said.
Gayatri Highways Ltd (the resulting company) has received approval from the BSE and NSE for listing of its equity shares. These shares will be traded with effect from Thursday, June 28, 2018.
Billionaire Sanjeev Gupta’s Liberty House has tied up Rs. 18,500 crore in funding to support its bid for Bhushan Power and has submitted the plan to the latter’s committee of creditors (CoC).