Category: Roads

Union minister Nitin Gadkari Wednesday said the ongoing project to develop Buddhist circuit in the country will be completed by 2020. He said the project, which will connect the places of importance of Buddha’s life, is being carried out at a cost of Rs 100 billion. “A huge number of devotees of Gautam Buddha from […]

In a big relief to crisis-hit Infrastructure Leasing and Financial Services (IL&FS), the National Company Law Appellate Tribunal (NCLAT) on Monday stayed all legal proceedings against the company and its 348 subsidiaries over any past or future loan defaults ’till further order’. The company may have faced 70-80 legal suits had the moratorium not been […]

Delhi-Meerut Expressway: The 8 kilometre long stretch of the Delhi-Meerut Expressway from UP Gate to Vijay Nagar is likely to be opened by the month of March next year. The stretch from UP Gate to Vijay Nagar is a part of the 20-km long highway between UP Gate and Dasna, that the National Highways Authority […]

As cash-strapped Pakistan approached the IMF for a bailout agreeing to share the details of huge Chinese loans obtained for the CPEC, a wary China on Monday said the global lender should “objectively and professionally” evaluate its investments and ensure that any financial package does not affect close ties between Beijing and Islamabad. Pakistan Finance […]

Imagine a national highway built from waste materials! If the Modi government is able to see this through, the project will be an interesting infrastructure initiative for sure! In a step towards environment conservation, a pilot project to build approximately a 150-km of national highway using different types of waste materials such as plastic and […]

Pakistan’s government has finally admitted it needs help. Finance Minister Asad Umar says he will be meeting officials of the International Monetary Fund on the sidelines of its annual meeting Bali this weekend. There he’ll try and work out the terms for a bailout that would cover a $10 billion hole in Pakistan’s financing needs. […]

Construction of national highways (NHs) in NDA’s over four-year rule has risen by 26% at 31,000 km compared to UPA-2’s 24,425 km in five years. However, under both the governments, most of the work was linked to strengthening and widening of existing highways to two lanes. Highway ministry officials said the construction figure for NDA’s […]

Stating that there is no dearth of funds, Commerce and Industry Minister Suresh Prabhu Friday said there is a need to work on innovative instrument and structure to attract global money for investment in infrastructure sector. The government is in talks with various global funds to sell India growth story, he said. “I have talked […]

The much-delayed Dwarka Expressway project will be now taken up by the National Highways Authority of India (NHAI) this November. The expressway project has been caught in an unending loop of delays over the last decade. According to a TOI report, the NHAI is ready to start work on the expressway’s Haryana section and the […]

Infrastructure Leasing & Financial Services Ltd. is missing more debt obligations, even as the Indian government pledged to prevent further defaults, underscoring the challenges its new board faces in fixing the firm’s mounting debt problems. IL&FS failed to service principal and interest on loans from banks, inter-corporate deposit and commercial papers totaling 339 million rupees […]

Distressed-debt specialist firm, REDD Intelligence, has warned that beleaguered infrastructure financier, IL&FS, will require equity infusion of up to Rs 300 billion to get back on the rails. It will also have to take an impairment of at least Rs 150 billion before recovering a single rupee from its subsidiaries, the firm said. “The required […]

Larsen & Toubro (L&T) Monday said its Heavy Civil Infrastructure Business has won orders worth Rs 7,489 crore in the domestic market. “A major order has been received from the Municipal Corporation of Greater Mumbai (MCGM) for the construction of the Mumbai Coastal Road Project,” L&T said in a BSE filing. The project involves construction […]