Chennai metro cost escalates to Rs. 19,000cr

Chennai Metro
The cost of the Phase-I of the Chennai Metro Rail Project, which was to be built at an initial investment outlay of over Rs. 14,600cr, its cost has gone up to Rs. 19,000cr, owing to various factors including the issues in contract, price escalations and variations in the project after the conception. The phase-I is expected to be completed by December next year and it is also tweaking the model it has implemented earlier, under which the responsibility of both design and building vested with the contractor, making their job riskier. It may be noted that the works, awarded to a joint venture between Gammon India and Russian contractor- Mosmetrostroy, for design and build of a stretch of underground operations, were delayed after the Russian partner allegedly abandoned the project abruptly. The ministry is looking at bringing in standards on sourcing of trains, telecom, signals, and construction system materials for the metro rail projects. The company has decided to take the onus of designing, which would bring matters under its control, and reduce the risk of the contractor. The Japan International Cooperation Agency (JICA) officials are expected to visit the city next month, to discuss with the government on the extension project. Out of the Rs. 3,700-cr proposed investment for the project, around Rs. 2,100-cr is expected to come from JICA.

Haryana clears ₹25,000-cr RRTS project

The Haryana Government has given the go-ahead for the Regional Rapid Transit Systems (RRTS), a high-speed rail network starting from Sarai Kale Khan (SKK) in Delhi to the Haryana-Rajasthan Border near Shahjahanpur Read More ...

DDA plans 11-tower housing luxury residential units

The Delhi Development Authority (DDA) has decided to build luxury housing projects at sector 19-B in Dwarka in south west Delhi. These will include fully furnished penthouses, complete with terrace garden and luxury Read More ...

BBMP set to start ₹1,862-cr infra projects

The Bruhat Bengaluru Mahanagara Palike (BBMP) is all set to start ₹1,862 crore worth of infrastructure projects, including white-topping and rejuvenation of storm water drains and lakes. Chief secretary TM Vijay Bhaskar Read More ...

Namma Metro readies alignment for Phase-III project

Namma Metro has finalized the alignment for the Phase-III of the elevated corridor of 83-km. The project has five lines, mostly located on the Outer Ring Road (ORR) or beyond, and two lines are proposed in north Read More ...

Ashoka Buildcon bags ₹443-cr railway contract

Ashoka Buildcon, in a joint venture, has secured a contract from Rail Vikas Nigam (RVNL) involving an investment of ₹443 crore. The project in Punjab involves doubling of a railway track between Kakrala Halt and Read More ...

Gaur Group goes for ₹350-cr housing project

The Gaur Group, in a recent move, has decided to invest ₹350 crore in its residential project Gaurs Runway Suites situated at Yamuna Expressway on the outskirts of Delhi in Uttar Pradesh. Managing director Manoj Gaur Read More ...

PMO pushes ₹294-cr infra projects in Rourkela

The Prime Minister's Office has decided to fast-track construction work on the second bridge across the Brahmani river, said official sources, for which, SAIL has provided ₹98 crore (one third of the cost) to NBCC Read More ...

Omkar Realtors in JV launching project in Mahim

Mumbai-based realty players Omkar Realtors and Anand Piramal led Piramal Realty in partnership are building a new project in Mahim. The companies are in advanced stages of discussions to jointly develop a 5-acre Read More ...

Birla Estates launches project in Mumbai

Birla Estates, owned by BK Birla Group, has forayed into residential real estate with the launch of its first project in Kalyan in suburban Mumbai. It has also announced plans to build realty projects in Pune, Bengaluru Read More ...

Hiranandani diversifies into affordable housing

After a successful stint in commercial and luxury residential development, Mumbai-based Hiranandani Communities, a real estate firm of Niranjan Hiranandani, is diversifying into affordable housing and industrial Read More ...

Mumbai Metro speeds up tunneling work

The tunneling work on the city's fully underground Metro line 3 (Colaba-Bandra-SEEPZ) has been fast tracked by the Mumbai Metro Rail Corporation Limited (MMRCL). The company has completed 45% of the tunneling work Read More ...

The 42 in Kolkata bags 'tallest tower' tag in India

Standing majestically with a towering height of 268 metres, The 42 in Kolkata has now bagged the tallest tower tag in India, overtaking other high rises like The Imperial in Mumbai. The roof of the 62-nd floor was added Read More ...

Gurgaon metro to get rapid metro and RRTS connectivity

The upcoming Gurugram Metro will be extended and connected with the Rapid Metro as well as Regional Rapid Transit System (RRTS) near Udyog Vihar, GMDA sources said. The authority is currently conducting a feasibility Read More ...

Raipur awaits major infra upgrades

The Congress government in Chhattisgarh in its recently released manifesto has issued a separate 16-point local manifesto for Raipur, pledging metro rail services, industrial growth and safe drinking water for the city, Raipur Read More ...

India-Japan JV to build Asia Africa Growth Corridor

India and Japan had announced the construction of an Asia Africa Growth Corridor with four major strands, including capacity building and creating quality infrastructure and institutional connectivity, human resource Read More ...

NDR Infrastructure plans ₹292-cr investment in TN

Setting up of a free trade and warehousing zone by NDR Infrastructure with over ₹292-crore investment in Tamil Nadu, is set to get approval from the Board of Approval (BoA), Chairman, Commerce Secretary Anup Read More ...
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