Union Road Transport and Highways Minister Nitin Gadkari on Saturday said that the government is giving utmost priority to the development of infrastructure and has set a target of road construction of worth ₹15 lakh crores in next two years. 40 kms per day highways Gadkari was confident that the Ministry for Road Transport and […]
Category: Roads
Covid doesn’t subdue interest in infra space
New Delhi: Long term prospects of India’s clean energy and infrastructure industries are bright as underscored by the quick recovery in the latter half of FY21 following the first wave of the pandemic, investors and experts said at the Mint India Investment summit on Friday. One reason for worry, however, is a potential increase in […]
Jaypee Infratech insolvency: Financial creditors to meet on Apr 29 to discuss NBCC, Suraksha bids
NEW DELHI : Financial creditors of debt-ridden Jaypee Infratech will meet on April 29 to discuss the resolution plans submitted by state-owned NBCC and Suraksha group to acquire the realty firm through an insolvency process. In a regulatory filing, Jaypee Infratech informed that a meeting of Committee of Creditors (CoC) will be held on April […]
Delhi-Meerut Expressway: Gadkari unhappy with poor road-side amenities
Road Transport and Highways Minister Nitin Gadkari on Friday regretted that the Delhi-Meerut Highway contractors have failed to construct adequate roadside facilities where people can ease themselves. The minister said that although people were thanking him for the Delhi-Meerut Expressway, but he has seen picture of one badly constructed road-side amenity on the expressway. “People […]
Form infra fund to finance road projects: Nitin Gadkari to highway companies
Union Minister Nitin Gadkari on Friday suggested to major highway builders and private companies to look into the option of floating an infrastructure finance fund or non-banking financial company to fund road projects. Replying to a query at a virtual event organised by industry body Assocham, Gadkari also said only big contractors who are financially […]
BRO opens Kashmir- Ladakh ZojiLa Pass
The Border Roads Organisation (BRO) has opened the strategic ZojiLa Pass that connects Kashmir and Ladakh days ahead of schedule, a statement from the Indian Army said on Wednesday. The pass that remains closed on an average for 150 days in a year remained open for a longer duration at the end of 2020 besides […]
Govt approves Rs726 crore highway projects in Madhya Pradesh
NEW DELHI : The government on Saturday said it has approved ₹726 crore highway projects in Madhya Pradesh. These projects are for building 291 km of highways in the state. “Ministry of Road Transport and Highways has sanctioned road development projects of 291 km worth 726 Cr for the state of Madhya Pradesh,” Road Transport, […]
NIIF may buy part of Ashoka’s road assets
India’s quasi-sovereign wealth fund, the National Investment and Infrastructure Fund (NIIF), has emerged as the buyer of the hybrid annuity road assets of Ashoka Concessions Ltd for an equity value of around $100 million, said two people aware of the development on condition of anonymity. Ashoka Concessions’ roads portfolio comprises 15 projects, including six operational […]
Centre approves highway projects worth ₹670 crore in Jharkhand: Gadkari
Union Minister Nitin Gadkari on Wednesday said the Centre has approved 14 highway projects worth ₹670 crore in Jharkhand. These projects have been sanctioned for building 127.93 km of highways. “Ministry of Road Transport and Highways has sanctioned 14 Projects of 127.93 km length at a cost of 670.7 crore for the state of Jharkhand,” […]
NHAI files papers with Sebi for InvIT, plans to raise ₹5,100 cr
NEW DELHI : The National Highways Authority of India (NHAI) on Monday filed draft papers with markets regulator Sebi for floating an Infrastructure Investment Trust (InVIT) through which it seeks to raise ₹5,100 crore. InvITs are instruments on the pattern of mutual funds and are designed to pool small sums of money from a number […]
NHAI files draft prospectus for first InVIT; plans to raise at least ₹5,100 cr
Mumbai: The National Highways Authority of India (NHAI) on Monday filed draft papers with markets regulator Sebi to set up an Infrastructure Investment Trust (InvIT) to raise ₹5,100 crore. NHAI plans to mop up a total of ₹5,100 crore through fresh issue, as per the draft papers filed with the Securities and Exchange Board of […]
IL&FS receives ₹693 cr settlement claims for 2 road projects from NHAI
MUMBAI (MAHARASHTRA) : ITNL, a subsidiary of IL&FS, has duly received a settlement amount of ₹673 crore for Kiratpur Ner Chowk Expressway Limited (KNCEL) and ₹20 crore towards claims for Chenani Nashri Tunnelway Limited (CNTL) from the National Highways Authority of India (NHAI). According to the IL&FS, with these two projects, NHAI and MoRTH have […]