New Delhi: India has said that it will study the US President Joe Biden’s ‘Build Back Better’ global infrastructure initiative proposal announced at the G7 summit as an alternative to China’s Belt and Road (BRI). This plan, which is proposed to be led by major democracies, will provide financial and technological help to narrow the […]
Category: Roads
Creditors to vote on NBCC, Suraksha final offers for bankrupt-Jaypee Infratech
NEW DELHI : Jaypee Infratech’s financial creditors on Thursday decided to put the bids of NBCC and Suraksha group to vote after both parties submitted final offers for the debt-laden company. The winning bidder will acquire Jaypee Infratech Ltd (JIL), which went into insolvency nearly four years ago, as well as complete more than 20,000 […]
Gangotri Highway blocked due to landslide in Uttarakhand’s Uttarkashi
The Gangotri National Highway has been blocked after a massive landslide on Monday. It is blocked near the Sunagar area of Uttarakhand’s Uttarkashi district. Huge boulders and a large amount of debris fell on the highway blocking it. The highway was similarly blocked on May 29 after a landslide due to incessant rainfall.
Reliance Infra to raise ₹550 crore from promoters, VFSI Holdings to pare debt
Anil Ambani’s Reliance Infrastructure Ltd (RInfra) on Sunday said that its board has approved raising a sum of ₹550.56 crore by preferential allotment of up to 88.8 million shares and/or warrants convertible into shares of the company to promoter group and VFSI Holdings Pte. Ltd, an affiliate of Värde Investment Partners LP. The funds raised […]
ADB inks $2.5 mn loan pact with govt to upgrade road infra in Sikkim
NEW DELHI : Asian Development Bank (ADB) has inked a pact with the union government for $2.5 million (approx ₹18.23 crore) loan assistance to upgrade road infrastructure in Sikkim. The $2.5 million project readiness financing (PRF) loan will support project preparation and design activities to upgrade major district roads in Sikkim, ADB said in a […]
‘Nitin Gadkari right person in wrong party’: Maharashtra Minister Ashok Chavan
Maharashtra minister and senior Congress leader Ashok Chavan has praised Union Minister and Nagpur MP Nitin Gadkari. Addressing a virtual press meet on the Modi government completing two years of its second term Chavan said “good words” could be spoken about Union Minister and Nagpur MP Nitin Gadkari who despite ideological differences, maintains “dialogue with […]
Jaypee Infra case: NBCC, Suraksha get more time to submit final bids
Financial creditors of embattled Jaypee Infratech have decided to give more time to state-owned NBCC and Suraksha group to submit their final bids to acquire the realty firm through the insolvency process. The two-day voting process, which began on May 27, to decide whether a further extension should be given to both the contenders concluded […]
Reliance Infra net loss narrows to ₹47 crore in March quarter
Reliance Infrastructure Ltd on Friday reported narrowing of consolidated net loss at ₹46.53 crore for the quarter ended March 31, 2021. The company had reported a consolidated net loss of ₹153.84 crore in the year-ago period, it said in a filing to the BSE. The company’s consolidated income during the January-March quarter increased to ₹4,610.72 […]
Landslide blocks Gangotri highway, restoration efforts by BRO underway
The Gangotri National Highway has been blocked near the Sunagar area of Uttarakhand’s Uttarkashi district after a massive landslide due to incessant rainfall. The landslide took place at the wee hours on Saturday. Huge boulders and a large amount of debris fell on the highway. The officials of Border Road Organization (BRO) have reached the […]
Soren orders high-level probe into Jharkhand bridge collapse
A day after a major bridge connecting several localities near Ranchi crashed down like a pack of cards, Chief Minister Hemant Soren on Friday ordered a high- level probe into the collapse. The major bridge ‘Haradih-Budhadih’ over Kanchi river that connects Tamar to Bundu and Sonahatu near state capital Ranchi crumbled amid incessant rain under […]
New toll plaza rules: No toll tax to be paid if wait time exceeds 10 seconds
This piece of news is surely going to bring joy for many travellers who are apprehensive about the long queues at toll plazas in spite of having a FASTag. The National Highways Authority of India (NHAI) has issued guidelines to ensure no more than 10 seconds of service time per vehicle even during the peak […]
Toll collections to pick up from June: Icra
NEW DELHI: India’s toll road projects may register revenue growth, albeit low, in the current financial year, despite interstate and intrastate restrictions put in place to contain the second wave of coronavirus pandemic that originated in Wuhan, China. According to Icra, “despite the lack of a nationwide stringent lockdown or toll suspensions, the regional restrictions […]