The domestic demand for steel will get support from infrastructure that will be developed to achieve the $5-trillion economy target, according to Minister for Steel, Dharmendra Pradhan. Pradhan said the various policy reforms and Government initiatives like Pradhan Mantri Awas Yojana, Har Ghar Jal Yojana, construction in railways and roads, creation of a gas-based economy […]
Category: Roads
Roads
IRB Infrastructure gets first tranche of investment of Rs 3,753 crore from GIC affiliates
IRB Infrastructure Developers on Tuesday said it has received the first tranche of investment of Rs 3,753 crore from GIC affiliates. In a regulatory filing, IRB Infrastructure Developers said Rs 3,753 crore from GIC affiliates has been received out of its commitment of Rs 4,400 crores by IRB Infrastructure Trust. “The balance commitment will be […]
India must invest $109 bn to halve its road fatalities: World Bank report
India needs to invest an estimated extra $109 billion in road safety over the next decade to halve its crash fatalities, the World Bank said in a report released on a day when at least 35 people were killed in four separate accidents in the country. The Bank said such an investment will bring economic […]
NHAI extends ₹260 crore to Reliance Infra subsidiary P S Toll Road
The National Highway Authority of India has offered a loan of ₹260 crore to Reliance Infrastructure subsidiary PS Toll Road Private Limited, Mumbai Mirror reported on Wednesday. NHAI has approved the loan to the Anil Ambani run firm to complete the widening of the 140 km stretch of the Pune-Bangalore highway despite meeting deadlines. NHAI […]
NABARD projects ₹27,989 cr credit potential for Assam
The National Bank for Agriculture and Rural Development (NABARD) has projected a credit potential of ₹27,989.04 crore for Assam in the 2020- 21 fiscal. The projection is 17 per cent higher than the previous year with the share of agriculture and allied activities accounting for nearly 61 per cent, according to NABARD’s ‘State Focus Paper […]
‘Poor infra, excess vehicle capacity hurting transport sector in North-East’
Lack of infrastructure, poor roads, excess vehicle capacity and fluctuating fuel prices are some of the major issues hampering the transport sector, not only in Assam but the entire North-East, said panellists at a discussion as part of the Transporters Meet organised by BusinessLine, in association with Indian Oil Corporation Ltd (IOCL) and Mahindra Small […]
SEBI board to consider ‘difficult to recover’ tag for untraceable defaulters, regulatory sandboxes
Markets regulator SEBI will contemplate proposals to attach a ‘difficult to recover’ tag for individual defaulters who are found to be ‘untraceable’, and for so-called regulatory sandboxes on Monday, officials said. Besides, the board of SEBI would discuss a proposal to amend its investment manager eligibility norms for Infrastructure Investment Trusts (InvITs) and also permit […]
Gammon Infrastructure Q3 loss widens to ₹51 crore
Gammon Infrastructure Projects on Friday reported widening of its consolidated loss at ₹51.24 crore for the quarter ended December 2019. The company had posted a consolidated loss of ₹21.16 crore in the year-ago period, Gammon Infrastructure Projects said in a filing to BSE. The loss is “attributable to the owners of the company,” the filing […]
IT searches on 3 infra groups in TS, AP leads to unaccounted income of over ₹2,000 cr
Searches conducted by the Income Tax Department lead to detection of unaccounted income of more than ₹2,000 crore. The Income Tax Department had carried out Search and Seizure action on February 6, 2020 at Hyderabad, Vijayawada, Cuddapah, Visakhapatnam, Delhi and Pune covering more than 40 premises. The search action included three prominent infrastructure groups based […]
PNC Infratech may build on new order win
PNC Infratech has been declared the L1 (lowest) bidder for four-laning the Aligarh-Kanpur section of National Highway 91 in Uttar Pradesh. The company has received the order under Bharatmala Pariyojna and would execute it on hybrid annuity mode for a project cost of ₹2,052 crore. The project has to be completed in 30 months and […]
IL&FS fallout: CARE Ratings chief resigns
SB Mainak has resigned as Chairman of CARE Ratings, which could be a fallout of the collapse of Infrastructure Leasing and Financial Services (IL&FS). While the company said in a regulatory filing that the resignation was “due to personal reasons”, sources said that SEBI is understood to have asked the rating agency for his removal […]
FASTag to be available free of charge till February 29
To further enhance electronic toll collection, the National Highways Authority of India has decided to waive FASTag fee till February 29, the government said on Wednesday. The government has rolled out the FASTag-based toll collection system across more than 527 national highways in the country. “In order to further increase digital collection of user fee […]