Category: Roads

Chinese President Xi Jinping hosted some 5,000 delegates from across the globe at the Belt and Road forum in Beijing last week to discuss his signature infrastructure project, which began in 2013 to rebuild ancient trading routes across Eurasia. This year’s gathering eschewed the pageantry of the inaugural summit in 2017, as Beijing tried to […]

Chinese President Xi Jinping on Saturday said that the Belt and Road Initiative should benefit all around the world and deliver common development by following the established international norms. Addressing a roundtable meeting of the 37 heads of states and governments who attended the 2nd Belt and Road Forum (BRF), which would close on Saturday, […]

China sought to put a gentler face on its massive plan to recreate the old Silk Road at a summit that ended on Saturday, saying it must do more to explain the programme and boost sustainability even as state media hit back at critics. President Xi Jinping has made the Belt and Road Initiative (BRI), […]

Chinese President Xi Jinping addressed some 40 world leaders at the Belt and Road forum in Beijing, but his speech may have been aimed at a head of state not in the audience: US President Donald Trump. Xi spent a large portion of his speech Friday addressing Chinese domestic reforms, pledging to address state subsidies, […]

ITNL International, a subsidiary of the bankrupt infra lender Infrastructure Leasing & Financial Services (IL&FS) is looking to sell its 49 percent stake in Chongqing Yuhe Expressway Company in China, the company said Friday. The Singapore-based ITNL International is a wholly- owned subsidiary of IL&FS Transportation Networks. The balance 51 percent is owned by local […]

The Mumbai bench of National Company Law Tribunal (NCLT) on Friday issued notices to Amitabh Chaudhary, CEO of Axis Bank, Zareen Daruwala, CEO of Standard Chartered Bank, Ramesh Bawa and his wife for violating the tribunal’s order. It has also asked them to furnish their replies to the contempt pleas filed against them within two […]

China’s globe-spanning infrastructure program is shrinking. The rhetoric at the second Belt and Road Forum, opening in Beijing on Thursday, is almost certain to be less triumphalist — and new plans for roads, pipelines, bridges and rail lines more modest — than at the first. Unfortunately for the US and its allies, though, a downsized […]

The Serious Fraud Investigation Office (SFIO) on Wednesday questioned Deloitte’s former chief executive officer Udayan Sen and two others over alleged audit lapses in the books of Infrastructure Leasing & Financial Services (IL&FS). The probe agency had recently received a communique from a Deloitte Haskins & Sells whistle-blower, raising several audit shortcomings in the company’s […]

The cost of 1,424 Central government infrastructure projects across the country has spiked by 17.4 per cent owing to delays in implementation. The cost of the projects has surged from Rs 1,817 crore estimated initially to Rs 2,134 crore on account of time overruns. Data sourced from the Ministry of Statistics & Programme Implementation shows […]

The National Highways Authority of India (NHAI) has asked 11 consultant firms, who bid for a tender to provide services for various highway projects, to resubmit their documents after allegations of forgery. The authority would reverify the papers. The NHAI was acting on a complaint that the papers submitted earlier by these firms were forged. […]

As many as 344 infrastructure projects, each worth Rs 150 crore or more, have shown cost overruns to the tune of over Rs 3.16 trillion owing to delays and other reasons, a report said. “Total original cost of implementation of the 1424 projects was Rs 18,17,469.76 crore and their anticipated completion cost is likely to […]

The National Company Law Tribunal (NCLT) on Friday stayed its previous order allowing the withdrawal of insolvency plea against Sterling SEZ and Infrastructure at the behest of the Ministry of Corporate Affairs (MCA), as promoters — Nitin and Chetan Sandesara — are absconding. The MCA said Section 12A of the Insolvency and Bankruptcy Code (IBC) […]