Category: Roads

Mumbai: The markets regulator has sent fresh notices to rating companies for failing to warn bond investors of Infrastructure Leasing and Financial Services Ltd (IL&FS) in time about the scam at the shadow lender, two people with direct knowledge of the matter said, after its board disapproved of the low penalty imposed on them on […]

MUMBAI: The government has allocated ₹1,70,000 crore as budgetary allocation for the transport sector for 2020-21. With this including investment in roads, railways, shipping, ports and civil aviation, the allocation has come far below expectations, the total allocation has risen a modest 8% from the 2019 budgetary allocation of ₹1,57,000 crore. The Finance Minister Nirmala […]

MUMBAI : Cube Highways and Infrastructure, the biggest buyer of road assets in India, is looking to tap the dollar bond market to raise around ₹3,500 crore ($500 million), said two people aware of the development, requesting anonymity. The proceeds of the proposed dollar bond issuance, said the first person cited above, will be used […]

MUMBAI : Reliance Industries, plastic pollution, use of plastics in road construction, Vipul Shah, UNEP Amid growing concerns of waste plastic pollution in the country, oil-to-telecom major Reliance Industries (RIL), has launched a project to use plastics in road construction. RIL which is India’s largest petrochemicals player has so far constructed three plastic-to-roads projects on […]

Nagothane: Reliance Industries, India’s largest petchem player, is launching a project to use plastics in road construction, amid growing concerns over pollution in the country of 1.3 billion whose major cities are often plagued with smog and litter. India, which uses about 14 million tonnes of plastic annually, lacks an organised system for management of […]

New Delhi: Road transport and highways minister Nitin Gadkari on Friday said that there will a performance audit of government officials in road ministry and National Highways Authority of India (NHAI) and any delay in decision making will not be tolerated. “I have always been of the opinion that performance audit (of the officials) is […]

New Delhi: The Union government is making a renewed push to get states on board to levy a uniform road tax for personal vehicles across the country, a senior government official said. The move is expected to bring relief to automobile buyers, while also helping protect revenue of states as some consumers tend to purchase […]

Road transport and highways minister Nitin Gadkari will review 500 road projects worth ₹3 lakh crore to iron out issues and explore ways to fast track pending projects. Towards this, Gadkari will chair a meeting during January 23-24 in Manesar. The minister will meet the concerned stakeholders, which would include concessionaries, contractors, bankers and officials […]

MUMBAI : The National Investment and Infrastructure Fund (NIIF) and its joint venture partner Roadis are close to buying two road projects from Essel Infraprojects, wholly owned by Subhash Chandra’s debt-laden Essel group, in a deal valued at an estimated ₹1,500-1,800 crore, said two people aware of the discussions. Mint reported in August that the […]

The road transport and highways ministry is in the process of awarding 7,500 km of new highways projects, with an investment of ₹3.1 trillion, as a part of the second phase of the government’s ambitious highway project Bharatmala Pariyojana. This includes six expressways of 2,250 km, with an investment of ₹1.45 trillion and 16 greenfield […]

New Delhi: The Road Transport and Highways ministry has sought a hike in budgetary allocation by ₹8,000-10,000 crore for the financial year 2020-21, a senior government official said on Wednesday. “We expect a hike in budgetary allocation by ₹8,000-10,000 crore in the upcoming financial year. But we do have enough funds and we have received […]

Reliance Infrastructure, part of the debt-laden Anil Ambani group, has received in-principle approval from the National Highways Authority of India (NHAI) for a “harmonious substitution” of its Delhi-Agra toll road to Singapore-based Cube Highways and Infrastructure for ₹3600 crore. Reliance Infra, which will receive equity payment of ₹1700 crore from this transaction, said it would […]