NEW DELHI: Union ministers Sushma Swaraj, Arun Jaitley and Nitin Gadkari Friday laid the foundation stones for two high-speed highway corridors — Rs 90,000 crore Delhi-Mumbai Expressway and Rs 9,000 crore Dwarka Expressway here. The ministers also dedicated the Rs 1,217 crore Jaipur Ring Road to the nation. The Dwarka Expressway, once completed, will open […]
Category: Roads
Rajnath Singh to inaugurate, lay foundation stone for Rs 1 lakh cr highway projects in UP
NEW DELHI: Home Minister Rajnath Singh will on Thursday inaugurate and lay foundation stone for 80 highway projects, including Lucknow-Kanpur-Expressway, worth Rs 1 lakh crore, as per an official statement. Singh, accompanied by Union Minister Nitin Gadkari and UP Chief Minister Yogi Adityanath, will also inaugurate and lay foundation stone for Namami Gange projects worth […]
IL&FS fallout: More companies in ‘rating watch’
Mumbai: Credit rating firms have put more companies under ‘rating watch’ in the past one year than in the last 12 years following loan defaults by the IL&FS Group that has heightened concerns over the health of indebted companies. The total worth of corporate bonds under ratings watch has touched Rs 10 lakh crore in […]
Bureaucratic rejig: Sanjeev Ranjan named Road Transport Secretary, N N Sinha to be NHAI chief
New Delhi: Senior IAS officer Sanjeev Ranjan has been named secretary, Ministry of Road Transport and Highways (MoRTH), as part of a top-level bureaucratic reshuffle effected by the central government, according to a Personnel Ministry order. Ranjan, a 1985-batch IAS officer of Tripura cadre, is at present the chairman of National Highways Authority of India. […]
369 infrastructure projects under implementation facing cost overruns: Report
NEW DELHI: As many as 369 infrastructure projects of the total 1,420 under implementation are facing cost overruns, while another 366 are significantly delayed, according to a report. The report “Infrastructure & Real Estate: A fulcrum for Change & Economic Growth” by Property consultant ANAROCK and Association of InfrastructureNSE 0.90 % Industry (India) said the […]
Zojila tunnel project up for bid again as IL&FS exits
Mumbai: The government has invited fresh bids for the Zojila tunnel project in Jammu & Kashmir, after the construction contract was cancelled for the second time in three years. The tunnel, to be built at an altitude of 4,000 metres, will provide year-long connectivity between Srinagar and Leh as the current national highway that connects […]
Will take steps to curb frivolous bids for IL&FS assets: Injeti Srinivas, Corporate affairs secretary
About half the assets of debt-laden infrastructure financier IL&FS have been put up for sale, a top government official said on Tuesday, pointing also to measures that would be taken to prevent frivolous bidding for local companies being sold through bankruptcy administration. Corporate affairs secretary Injeti Srinivas told the media Tuesday on the sidelines of […]
Lot of headway being made in IL&FS matter, says Corporate Affairs Secretary
NEW DELHI: The first phase of resolution for problems faced by IL&FS group is expected to be completed in the next few months, as a lot of headway is being made in addressing the issues, a senior official said Tuesday. On Monday, the National Company Appellate Tribunal (NCLAT) said that no bank or financial institution […]
IL&FS lenders to save Rs 10,000 crore in Q4 post NCLAT breather
MUMBAI: A bankruptcy appeals court ruling, which ordered Monday that no loan account of IL&FS and its units be put into the nonperforming category without its approval, would save lenders about Rs 10,000 crore in March-quarter provisioning costs, two people aware of the development said. A two-judge bench of the National Company Law Appellate Tribunal […]
Don’t classify IL&FS accounts as NPAs sans nod: NCLAT
New Delhi: An appeals bench dealing with bankruptcies said Monday that exposure to IL&FS and its units can’t be treated as a non-performing loan until the court itself declared such debt as bad, giving relief to high-street banks and funds that had advanced cash to the stressed infrastructure financier. “No account of the IL&FS or […]
Gadkari to lay foundation for over Rs 4,000-crore highway projects in Himachal on Sunday
Union Road Transport Minister Nitin Gadkari will lay foundation stones for seven national highway projects worth over Rs 4,419 crore in Kangra, Himachal Pradesh, on Sunday. The projects include four-laning of 37.03 km long Punjab-Himachal Pradesh Border to Sihuni section of NH-154 at a cost of Rs 1,572.9 crore and construction of 104.6 km long […]
347 infra projects show cost overruns worth over Rs 3.2 lakh crore
As many as 347 infrastructureNSE 1.86 % projects, each worth Rs 150 crore or more, have shown cost overruns to the tune of over Rs 3.2 lakh crore owing to delays and other reasons, a Ministry of Statistics and Programme Implementation report said. The ministry monitors infrastructure projects worth Rs 150 crore and above. “Total […]