As many as 428 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.98 lakh crore, as per a report. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects of Rs 150 crore and above, out of 1,559 […]
Category: Roads
Gadkari proposes creation of Innovation Bank to focus on quality in infra
Union Minister for Road Transport and Highways Nitin Gadkari has proposed setting up of Innovation Bank for new ideas, research findings and technologies to focus on ‘Quality’ in infrastructure development. Virtually addressing the inaugural function of the 222nd Mid-Term Council Meeting of the Indian Roads Congress (IRC), he said new initiatives are expected from IRC, […]
Govt working towards expanding NH network to 2 lakh km by 2025: Gadkari
The government is working towards expanding the National Highway network to 2 lakh kilometres by 2025, Union Road Transport and Highways Minister Nitin Gadkari said on Friday. Addressing an event organised by Indian Roads Congress (IRC), Gadkari also proposed the setting up of ‘Innovation Bank’ for new ideas, research findings and technologies to focus on […]
IRB Infra arm achieves financial closure for Rs 6,538-cr project in UP
IRB Infrastructure Developers Ltd on Thursday said its special purpose vehicle and wholly-owned subsidiary Meerut Budaun Expressway Pvt Ltd has achieved the financial closure for the Rs 6,538-crore project in Uttar Pradesh. The Ganga Expressway Group 1 is a greenfield project to be carried out under Build, Operate and Transfer (BOT) mode. The company in […]
GR Infraprojects hits all-time low, stock down 18% in 3 days amid CBI raids
Shares of GR Infraprojects hit a new low at Rs 1,111, down 4 per cent on the BSE in Wednesday’s trade. The stock has tumbled 18 per cent in the last three trading sessions after the Central Bureau of Investigation (CBI) conducted searches at several locations of the company premises. GR Infraprojects on Monday, June […]
Pakistan PM Sharif: Determined to complete all CPEC projects on time
Pakistan Prime Minister Shehbaz Sharif on Wednesday said that he is determined to timely complete all the projects under the multi-billion-dollar China-Pakistan Economic Corridor (CPEC) and assured that he will resolve all the issues faced by the Chinese companies working in Special Economic Zones. Addressing a meeting in Rashakai Special Economic Zone, a flagship industrial […]
Reliance Infra to receive Rs 595 cr from Damodar Valley Corp by July end
Mumbai, June 13 IANS: Reliance Infrastructure Limited (Reliance Infra) is set to receive a sum of Rs 595 crore from Damodar Valley Corporation (DVC) by July 31. Pursuant to an order passed by the Supreme Court on May 31, Chairman, DVC has furnished an undertaking on June 6, 2022 stating that DVC will comply with […]
Indian Highway Concessions looks to raise Rs 910 cr via private placement
Infrastructure investment trust (InvIT) Indian Highway Concessions Trust, which is owned by Canada’s pension fund CPDQ, is looking to raise Rs 910 crore on a private placement basis. InvITs is a relatively new investment instrument in the Indian context but is extremely popular in global markets. It comprises a portfolio of infrastructure assets such as […]
Infra.market raises Rs 390 crore funding from Liquidity Group’s arm
Construction materials marketplace Infra.market on Monday said it has raised USD 50 million (about Rs 390 crore) in funding from Liquidity Group’s Mars Unicorn Fund to fuel its growth ambitions. The latest fundraise by Infra.market, which was valued at USD 2.5 billion at its last fundraise in August 2021, comes after reports of non-disclosure of […]
J Kumar Infra hits four-year high; surges 38% in twelve days on strong Q4
Shares of J Kumar Infraprojects (JKIL) hit a four-year high of Rs 299.50, on rallying 7 per cent on the BSE in Friday’s weak market on the back of a strong business outlook. The stock was trading at its highest level since April 2018. In comparison, at 11:31 am, the Sensex was down 1.5 per […]
IndInfravit to buy 5 Indian road projects from Brookfield in $1.2 bn deal
India’s IndInfravit Trust said on Friday it would acquire five operational road projects from companies owned by Brookfield Asset Management’s funds in a deal valued at about $1.2 billion, including debt, as it seeks to expand its road portfolio. The deal with Canada’s Brookfield will extend the infrastructure investment trust’s presence into three more states, […]
Rural roads adjoining cities soon to be upgraded to four-lane: CM Khattar
Haryana Chief Minister Manohar Lal Khattar on Wednesday said roads in the rural area adjoining cities will soon be upgraded to four-lane to make traffic movement smoother. He said this while presiding over a review meeting of projects being undertaken by various departments here. The chief minister said along with this, welcome gates will be […]