New Delhi: Prime Minister Narendra Modi today inaugurated and laid the foundation stone of seven urban infrastructure projects worth ₹541 crore in poll-bound Bihar. Bihar chief minister Nitish Kumar, deputy chief minister Sushil Kumar Modi, union ministers Ravi Shankar Prasad and Hardeep Singh Puri also attended the launch of the projects today. In his address […]
Category: Roads
Highways builder DBL in talks with global investors for sale of 7 road projects
NEW DELHI : Highways builder Dilip Buildcon Ltd (DBL) is in talks with large global financial investors to sell seven of its road projects. The company that claims to be India’s largest road construction company, currently building 16T of all National Highways, has already sold five of its projects to Cube Highways. “After the successful […]
Govt plans to construct over 50,000 km of roads
NEW DELHI : Terming InvIT as an attractive vehicle for mobilising funds for road infrastructure, the government on Friday said it is planning to construct over 50,000 km of highways. “Addressing a meeting of leading and large investor groups in New Delhi last evening, Secretary – Road Transport and Highways Giridhar Aramane said the ministry […]
Highways Ministry releases over ₹10,000 cr for developers to expedite work
Ministry of Road Transport and Highways on Wednesday announced that it released over ₹10,000 crore to developers amid C-19 to boost the ‘Atmanirbhar Bharat’ scheme and expedite highways construction. Another sum of ₹2,475 crore is being processed and is likely to be released soon, it further said. “A sum of ₹10,339 crore has been released […]
Highways Ministry releases over ₹10,000 crore under Atmanirbhar Bharat scheme
A sum of ₹10,339 crore has been released by the Ministry of Road Transport and Highways during the COVID-19 period under the simplified payment process as envisaged in the Atmanirbhar Bharat scheme. According to an official release, another sum of ₹2475 crore is being processed and is likely to be released soon. The Government has […]
Cube raises ₹3,500 cr to buy NHAI toll roads
Cube Highways and Infrastructure on Tuesday announced an agreement with State Bank of India (SBI) for a ₹3,500 crore term loan facility to purchase the third bundle of road assets auctioned under the government’s toll-operate-transfer (TOT) model. This is one of the largest financings in India’s road sector, said Cube Highways, which was set up […]
Cube Highways raises ₹3,500 cr from SBI to acquire NHAI toll roads
MUMBAI: Cube Highways and Infrastructure on Tuesday announced an agreement with State Bank of India (SBI) for a Rs3,500 crore term loan facility to purchase the third bundle of road assets auctioned under the government’s toll-operate-transfer (TOT) model. This is one of the largest financings in India’s road sector, said Cube Highways, which was set […]
Road projects of ₹50,000 cr to be completed in Madhya Pradesh by 2023: Gadkari
BHOPAL/NEW DELHI : Union minister Nitin Gadkari on Tuesday said that road projects of ₹50,000 crore would be completed by 2023 in Madhya Pradesh and assured that in two years the state would have a world-class highways network. The Road Transport, Highways and MSMEs Minister inaugurated and laid foundation stone of 45 highway projects worth […]
Highway traffic returns to 90% of pre-covid levels: ICRA
Commercial vehicle movement on national highways recovered to near 90% of pre-covid levels in July. However, the movement in passenger vehicles is yet to recover fully and is still hovering at 60% of their pre-covid levels, a report from credit ratings agency ICRA said. If the pace of recovery continues and holds, the year-on-year fall […]
Gadkari to lay foundation stone of 35 highway projects of ₹9,400 crore
NEW DELHI : Union minister Nitin Gadkari will inaugurate and lay foundation stone of projects worth over ₹9,400 crore in Madhya Pradesh on August 25, a statement said. These 35 projects entail 1,139 km of highways, the Ministry of Road Transport and Highways said in the statement. “Union Minister for Road Transport, Highways and MSMEs […]
Gadkari to virtually lay foundation stone for 13 highway projects in Manipur
New Delhi: Union Minister for Road Transport, Highways and MSMEs Nitin Gadkari will virtually lay the foundation stone for 13 highway projects and inaugurate a road safety project in the northeastern state of Manipur on August 17. According to an official statement, Manipur Chief Minister N Biren Singh will preside over the virtual function, to […]
JK govt plans to build 600 km highway along border to explore tourist sites
A 600 km-long highway will be constructed along the border touching all picturesque tourist spots in the Kashmir Valley, each of which will be “another Gulmarg”, Jammu and Kashmir Chief Secretary BVR Subrahmanyam has said. The ₹8,000 crore road project will connect Gulmarg with Kargil and Drass in Ladakh. “We are planning to construct a […]