Lenders to Era Infra Engineering are expected to meet later this week to discuss interim financing to help keep the company a going-concern and to fund litigation costs for arbitration claims filed against customers. A senior banker aware of the developments said: “Bankers will meet to discuss the way forward. So far, the RP kept […]
Category: Roads
NHAI to foreclose or terminate 5-7 stuck road projects of IL&FS
Debt-stricken Infrastructure Leasing and Financial Services (IL&FS) may see foreclosure or termination of at least five to seven of its road projects awarded by the National Highways Authority of India (NHAI). These projects got stuck over cost and time overruns. The agency will re-invite bids in due course to complete the balance of work, people […]
Maharashtra, UP to drive state-led capex in road sector in next 3 yrs
New Delhi: The state-level spend on roads in Maharashtra and Uttar Pradesh is expected to grow at an annual rate of 22 per cent to Rs 1.43 lakh crore by 2020- 2021, rating agency ICRA said on Tuesday. Capital expenditure (capex) by states on their roads is expected to witness robust growth over next three […]
SC dismisses plea challenging J&K order restricting civilian traffic on national highway
The Supreme Court on Monday dismissed a plea challenging the Jammu and Kashmir government’s order restricting civilian traffic for a day in a week on a stretch of the national highway from Udhampur to Baramulla for the movement of security forces. Counsel for the Jammu and Kashmir government told the bench comprising Chief Justice Ranjan […]
IL&FS Mututal Fund pays out Rs 314 crore on redemption of its 5-year debt fund
IL&FS Mutual Fund on Tuesday paid out `314 crore on redemption of its 5-year infrastructure debt fund, the company said in a press statement. The close ended scheme, Infrastructure Debt Fund (IDF) Series 1-A, matured on April 29 and was due for redemption on April 30. The debt fund was launched in April 2014, and […]
Purvanchal Expressway: Work for one of India’s longest expressways in progress! Details here
Purvanchal Expressway: Big development on way! The Uttar Pradesh Expressways Industrial Development Authority (UPEIDA), which is executing the Purvanchal Expressway project, has tweeted that the construction work for the 354 km long expressway is going on in full swing. The Purvanchal Expressway, said to be one of the longest in the country, will start from […]
NCLAT seeks details about four IL&FS group entities
The National Company Law Appellate Tribunal Monday directed debt-ridden IL&FS to submit information over investment made by pension and provident funds in its four group firms, and also sought details of financial liabilities of those entities. These four ‘amber’ companies are — Hazribagh Ranchi Expressway, Jharkhand Road Project Implementation Company, Moradabad Bareily Expressway and West […]
Madras HC quashes land acquistion for Chennai-Salem expressway project
The Madras High Court on Monday quashed the land acquisition proceedings for the Rs 10,000-crore Chennai-Salem expressway project that hit the headlines following strong resentment by the farmers, political parties and NGOs. A division bench of justice TS Sivagnanam and justice V Bhavani Subbaroyan cancelled the land acquisition announcement for the project, acting on a […]
NIIF-Roadies platform to invest $2 billion in roads
The National Investment and Infrastructure Fund (NIIF) and global transport infrastructure operator Roadis on Wednesday said they would jointly set up a platform to invest up to $2 billion of equity in road projects in India. The platform would “target toll-operate-transfer models and acquisitions of existing road concessions”, they said in a statement. After moving […]
Smooth world-class expressways in India! Top 5 upcoming highway projects you should know about
Smooth world-class expressways in India! Over the next few years, several big infrastructure projects are coming up including various Expressway projects. Nitin Gadkari chaired Ministry of Road Transport and Highways is all set to launch many expressway projects in order to enhance connectivity, giving a boost to infra sector of the country. Several state-level projects […]
Nitin Gadkari INTERVIEW | As highway projects get more viable, will be good for banks to finance HAM
Even though the pace of highway construction almost trebled to 35 km/day in the last five years, pure-play public-private partnerships (PPPs) are showing no signs of picking up. While there seems to be a growing burden on the government finances from the EPC and hybrid annuity models, minister for highways and transport Nitin Gadkari tells […]
Union Minister Jitendra Singh dedicates two inter-state roads to people of Northeast
Union Minister Jitendra Singh on Saturday inaugurated two inter-state road projects in the northeast, asserting that the BJP-led NDA government was committed to the development of the region. Singh, who dedicated the projects to people via a video conference from New Delhi, said the region has witnessed rapid development in the last five years. “The […]