Prime Minister Narendra Modi will inaugurate, lay the foundation stone of and dedicate to the nation multiple development projects worth crores in West Bengal and Bihar on Saturday. The Prime Minister who is on a two-day visit to three states, reached West Bengal’s Arambagh on Friday afternoon where he launched several development projects and addressed […]
Category: Roads
National Highways Infra to debut private bond placement by April, sources say
India’s National Highways Infra Trust (NHIT) is set to tap the domestic corporate bond market via a debut private placement of bonds in the next two months, four sources directly aware of the matter said on Friday. The company is likely to opt for longer-duration bonds of more than 15 years and would look to […]
IRB Infra raises $540 million through dollar bonds, receives bids above $2 billion
IRB Infrastructure Developers Ltd has raised $540 million through senior secured notes, with the private road developer’s bond issuance receiving orders worth more than $2 billion from international investors. Executives at Deutsche Bank, which was a book-runner on the deal, said that the strong response received by IRB reflected the firm’s robust credit quality and […]
Govt approves Rs 6,728 cr for construction of 8 stretches on Frontier Highway spanning 305 km
The Ministry of Road Transport and Highways (MoRTH) has approved an allocation of Rs 6,728.33 crore for constructing eight stretches on NH-913 (Frontier Highway) in Arunachal Pradesh as Intermediate Lane Road, spanning 305.50 km on Engineering Procurement Construction (EPC) mode, an official statement said on Thursday. Union Road Transport and Highways Minister Nitin Gadkari in […]
Govt has built 95,000 km of national highways in last 10 years: Road secretary Anurag Jain
The road ministry has built around 92,000 km of national highways in nine-and-a-half years and this will go up to 95,000 km by the end of March 2024, road transport and highways secretary Anurag Jain. Speaking at the two-day conference of road infrastructure, organised by the International Road Federation, Jain said the focus going forward […]
NaBFID to sanction Rs 3 lakh crore by March 2026 to support infra development
National Bank for Financing Infrastructure and Development (NaBFID), which supports the development of long-term non-recourse infrastructure financing, has set a target to sanction Rs 3 lakh crore by March 2026, the finance ministry said on Thursday. Finance and Corporate Affairs Minister Nirmala Sitharaman chaired a meeting to review the performance of the NaBFID and asked […]
Gokhale bridge in Mumbai’s Andheri to finally open today after a year of closure
After being closed for over a year, Andheri’s Gokhale bridge will finally be opened to light motor vehicles (LMVs) starting from Monday evening. The construction of the bridge, which cost Rs. 90 crores, began in April last year and is expected to be completed by December 2024. The opening of the bridge will be done […]
Cube Highways plans tCube Highways plans to sell 7 road projectso sell 7 road projects
Singapore-based Cube Highways & Infrastructure, an investment arm of global infrastructure fund I Squared Capital, plans to monetise some of its road assets by selling seven highway projects spanning 516 kilometres (2,200 lane km), multiple people aware of the development said. Cube has hired Ambit Capital to run the sale process and feelers have already […]
PM Modi inaugurates and lays foundation stone of development projects worth more than Rs 4,150 cr in Dwarka
Prime Minister Narendra Modi on Sunday inaugurated, dedicated to the nation and laid the foundation stone of several development projects worth more than Rs 4,150 crore in Gujarat’s Dwarka. “From several years, I wanted to visit and offer prayers at the submerged city of Dwarka. That wish got fulfilled today, and I am very emotional […]
MoSPI: 431 infra projects hit by cost overrun of ₹4.80L cr in Jan
As many as 431 infrastructure projects, each entailing an investment of ₹150 crore or above, were hit by cost overrun of more than ₹4.80 lakh crore in January 2024, an official report stated. As per Ministry of Statistics and Programme Implementation (MoSPI), projects worth ₹150 crore and above, out of 1,821 projects, 431 reported cost […]
Road Ministry hopes to construct over 12,000 km of roads in FY24
The Ministry of Road Transport and Highways expects to construct anywhere between 12,000 and 13,000 km of national highways in 2023-24, which will be the second highest national highways construction in the country. The highest annual construction so far has been 13,327 km in 2020-21 while the second highest was 10,855 km in 2018-19. The […]
High-speed access-controlled and four-lane highways construction to reach record high, says Anurag Jain
The Ministry of Road, Transport & Highways (MoRTH) will be achieving a highest-ever four lane and access-controlled high-speed highways, reaching an ambitious road construction target of 13,000 kilometres by this fiscal end. “In 2020-21, we have the highest-ever road construction of 13,327 kilometers as compared to 4,260 kilometres in 2013-14. As of January this year, […]