Transport Minister rolls out Rs.3 lakh-cr projects

INDO-US Infra Summit

Accelerating the process of exploring newer business avenues in the surging Indian infrastructure sector, Indo-American Chambers of Commerce (IACC), the only bilateral chamber for the promotion of Indo-US business relations, recently organized a high profile one-day Infrastructure summit in New Delhi, where think tanks from the business bodies, policy makers, government heads, bureaucrats and a large number of infra builders from private sector participated and exchanged views to make the most out of the available business opportunities in infrastructure sector.

The Chairman Infrastructure Committee, NIC, Mr. Ashish Wig in his welcome address said that the significance of the summit gains more importance after Prime Minister of India visited USA in September last year when in a joint statement both the leaders, Narendra Modi and Barrack Obama, mentioned that in the infrastructure development of India an active participation of US Companies is vital and it must be encouraged further. In this connection, they coined a new phrase "Chalen Hum Sath Sath (Let's Move Together)" in the focused areas of Building Roads, Ports and Railways. It was also agreed upon that in the year 2015, USA would send two Business Delegations to India to explore the possibilities of forging JVs in these fields.

In fact, Indo American Chamber of Commerce along with its branch in Texas in USA took the lead and organized the first visit of US Delegations from Houstan, USA, comprising representative from all the three identified segments of infrastructure, he added.

Nitin Gadkari
In his Inaugural address, Minister of Road Transport, Highways and Shipping, Nitin Gadkari, who was the Chief Guest at the function, announced that the government has fast tracked the entire process of clearances and project delivery mechanism. As a result of which a large number of global infrastructure investors and builders have started taking interest in the country's road and highway sector. Ending the decade old logjam, the government has cleared infrastructure projects worth Rs.1.5 lakh crore that were stuck due to various regulatory hurdles and it is currently in the process of creating a shelf of 500 ready to bid projects worth Rs.3 lakh crore. This is in addition to rolling out Rs.1.8 lakh crore, which were lying stalled. In total, the government is all set to roll out Rs.2 lakh crore projects this year, besides, building 1000 kms of expressways. Apart from this, it is also contemplating to build 2 lakh km of roads under public-private-partnership (PPP) mode which includes widening of existing 1 lakh km of highways as a result of which the PPP model will offer huge business opportunities to offshore investors. The minister also revealed that the government has set a target of awarding road projects with a length of 8,500 km during this fiscal as against a target of 9,638 km in the preceding fiscal. In view of the builders' half-hearted attitude for PPP model, the government has decided to award projects on EPC model, for the revival of this sector. A few foreign investors, including IJM Corporation Berhad, a leading construction group in Malaysia, have shown interest in the projects like Eastern Peripheral Expressway worth Rs.4,489 crore for a stretch of 135 km, Bhatinda-Amritsar worth Rs.1,899 crore for 175 km and Ambala -Kaithal worth Rs.878 crore for a length of 95 km and also for the Delhi-Jaipur Expressway. It is worth mentioning here that all these projects were bid under both models to save costs, time and uncalled for delay in the project awarding process.

Adding to the momentum, the Minister said that the government is currently concentrating on the cost cutting ensuring durability, quality and cost efficiency by building concrete roads using cement instead of bitumen in the country's highway sector. In this connection, initial evaluation indicated that the concrete roads are more durable, low on maintenance but cost around 10% more and the prices quoted by cement companies may narrow the gap to 2-3% and the original plan is to get the Transport Ministry to enter into long-term contracts with cement manufacturers to check against price volatility. Though the construction cost for concrete roads and those using bitumen become similar but the roads built by using cement don't need maintenance for 15-20 years, so the overall investment will come down.

InDo-American Chamber of Commerce

Mr. Edward M. Emmett, Hon'ble Judge, Harris County, Texas, USA, who was leading the delegation from the US also addressed the participants and dignitaries. The other eminent speakers during the Inaugural Session included Mr. Pratyush Kumar, Regional Vice President, NIC; Mr. Atul Sharma Former Regional President, NIC; Mr. Asoke K Laha, National President, IACC; and Mr. John M McCaslin, Minister Counselor for Commercial Affairs, US Embassy.

The welcome Inaugural sessions were followed by technical sessions on Ports, Highways and Railways.

Fast tracking the Port, infrastructure building process across ports in the country, the Minister disclosed that all the 12 major port trusts of the country have jointly decided to set up a new entity, which has been named as the Port Infrastructure Vikas Nigam Limited (PIVNL). The new company, which will solely focus on building world class infrastructure across ports, is being formed with equity stakes from all 12 major ports and Railway Vikas Nigam Limited (RVNL) with a 90:10 shareholding pattern with initial authorized capital worth Rs.100 crore.

Mr. J.P Batra, Former Chairman, Indian Railways, said in his Keynote address that the Indian rail sector has opened up huge investment opportunities for foreign players. The new government has fast tracked the project building process and outlined areas open for private and foreign direct investment (FDI) and also identified as many as 38 specific projects with potentials to attract FDI worth Rs.90,000cr. This also included some of the high profile projects like Mumbai-Ahmedabad high-speed corridor involving an investment worth Rs.63,180 crore. In addition, they also included a Rs.14,000 crore Mumbai CST-Panvel suburban corridor and a Rs.1,200cr coach manufacturing factory at Kanchrapara in West Bengal. The ministry listed 17 areas for private and foreign investment, including suburban corridor projects, high-speed train projects, freight lines, rolling stock manufacture and electrification including signalling.
Click Here
To Know More or to Contact the Manufacturer
Please let us know your name.
Invalid Input
Please let us know your Designation.
Please let us know your Contact Number.
Please let us know your email address.
Please brief your query.
Our other Value-Added Services:

To receive updates through e-mail on Products, New Technologies & Equipment, please select the Product Category(s) you are interested in and click 'Submit'. This will help you save time plus you will get the best price quotations from many manufacturers, which you can then evaluate and negotiate.

Invalid Input
Invalid Input
Invalid Input
As humanity reeled under the onslaught of Covid-19 and the resultant uncertainty, the world applauded the millions of essential services workers who toiled tirelessly at great risk to their personal health

Read more ...

Despite the pandemic, Changsha International Construction Equipment Exhibition (CICEE 2021) became a huge success with 1,450 exhibitors showcasing their products and technologies on an exhibit area

Read more ...

In an online event, GHH India along with its mining contracting subsidiary, GHH Bumi Mining Service, was awarded ‘Best Performing Business Partner’ by Vedanta Group/Hindustan Zinc Ltd (HZL)

Read more ...

In order to fully implement General Secretary Xi Jinping’s instruction on "building Hunan into a nationally advanced, important highland of manufacturing industry" during his inspection of the Hunan province

Read more ...

Over the years, the IEE Expo has positioned itself strongly as a networking and sourcing platform for elevator and escalator industry professionals, and where buyers can witness the latest technologies and conveniences

Read more ...

Government of India’s ambitious ₹111 lakh crore National Infrastructure Pipeline (NIP), which has already been announced and actioned upon, augurs very well for enabling sectors such as the Indian Construction Equipment

Read more ...

bauma CONEXPO INDIA - north India’s leading International Trade Fair for Construction Machinery, Building Material Machines, Mining Machines and Construction Vehicles - has been rescheduled from 3-6 November 2020

Read more ...

INTRALOGISTICA ITALIA is the only exhibition with a comprehensive offer dedicated to the most innovative solutions and integrated systems for industrial handling, warehouse management, materials storage and picking

Read more ...

The Indian Concrete Institute, Goa Centre, in association with Ultratech Cement Limited organized the 9th ICI-Ultratech Awards Nite on 19th February 2020 at Hotel Fidalgo, Panjim Goa. The annual event was attended by nearly 250 invitees

Read more ...

The Indian Concrete Institute in association with Dayananda Sagar College of Engineering organized a one-day seminar on Geopolymer Concrete Applications: Challenges and Opportunities. In this fast-developing world, it has become

Read more ...

Conexpo 2020 was held as scheduled on March 10, 2020 in Las Vegas, USA. Established Chinese construction equipment enterprises like XCMG, Zoomlion, Sany, LiuGong, Shantui, Sunward, and many more once again demonstrated the strength

Read more ...

Multiple construction and construction materials industry segments unveiled new technologies and products, shared knowledge, networked with industry peers and bought equipment at the CONEXPO-CON/AGG & IFPE 2020, held at the Las Vegas

Read more ...

In line with its strategy to enhance customer experience with minimal downtime of elevators & escalators, and for swift deliveries of spares, KONE has opened a new warehouse at Andheri in Mumbai that houses more than 2000

Read more ...

The 45th edition of World of Concrete for the concrete & masonry industries drew about 54,000 registered professionals to the Las Vegas Convention Center and featured 1,310 companies (including 255 brand new companies) exhibiting

Read more ...

Once a year, the specialist group meets in January to discuss operational issues and projects for the current year. In economic terms, the industry is still at the record level of 2018, and its sales in 2019 will match the previous

Read more ...

Mahendra Singhi (Managing Director & CEO – Dalmia Cement (Bharat) Limited) and Nilesh Narwekar (CEO – JSW Cement) have been elected as the Chair and Co-chair, respectively, of the GCCA India to provide strategic direction

Read more ...

The 2nd Edition of iCEMA Conclave organized by Indian Construction Equipment Manufacturers Association, deliberated on new avenues of construction equipment financing, challenges and measures. NBM&CW reports.

Read more ...

The Indian Concrete Institute, Goa Centre, organized a One Day Workshop on “Recent Advances in Waterproofing Technologies” on 16th January 2020 at Metropole Hall, Hotel Nanutel, Margao Goa, under the aegis of Indian Concrete Institute

Read more ...

At Greenbuild India hundreds of green building and sustainability professionals discussed LEED and green building practices that help deliver a more sustainable future. The U.S. Green Building Council (USGBC) held the third

Read more ...

The Construction Chemicals Manufacturers Association (CCMA) hosted the 7th edition of International Construction Chemicals Conference at Hotel Taj Lands End in Mumbai. The theme was “Role of construction chemicals in infrastructure

Read more ...

×
Sign-up for Free Subscription
'India Construction Week'
Weekly e-Newsletter on Construction Industry
Get the latest news, product launches, projects announced / awarded, government policies, investments, and expert views.