NHAI seeks ₹25,000-cr more funds for road building

NHAI
The NHAI has sought ₹25,000 crore more from the Centre for the next financial year (2020-21). The road building agency has the approval to raise ₹75,000 crore in borrowings during the current year, while the government support is ₹36,691 crore. The NHAI has lined up a portfolio of projects worth ₹18,000 crore to be bid shortly, which includes five hybrid-annuity packages on the Vadodara-Mumbai expressway, four EPC packages on the Delhi-Vadodara expressway, and projects in Uttar Pradesh and Bihar. With budgetary support unable to match due to the lack of private investment, the NHAI has been under the scanner for being highly leveraged with its debt expected to touch ₹2.5 trillion by the end of the current financial year. In the last fiscal, a mix of debt raised from banks, toll revenue, and a road monetization scheme, was to yield ₹62,000 crore to the NHAI. This financial year, allocation has been made to the NHAI for major works under the Bharatmala Pariyojana, entrusted to the organisation for execution. The money will come from the Central Road Infrastructure Fund (CIRF), the Permanent Bridges Fee Fund, and Monetization of National Highways Fund. The Bharatmala programme envisages construction of 20,000 km of roads at an estimated investment of Rs 7 trillion.

RLDA offers ₹10,000-cr land parcels for development

The Rail Land Development Authority (RLDA) is all set float tenders worth ₹10,000 crore as part of its efforts to monetize land, vice chairman Ved Parkash Dudeja, said adding that the move provide an opportunity to developers to Read More ...

L&T & DB Realty in JV plan 1.4-mn sq ft residential project

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Banguluru gets ₹200-cr Bridge in KR Puram

In an attempt to ensure trouble free transport system in the area, the state government in Karnataka has announced the construction of a new bridge between Indiranagar and Medahalli in the KR Puram constituency area in Bangaluru Read More ...

UP approves ₹900-cr for RRTS project in NCR

In a bid to boost regional connectivity in NCR, the UP government has allotted ₹900 crore to country's first Regional Rapid Transit System. Prior to this, Centre has allotted ₹2,487 crore to the project in the union budget for which Read More ...

NEC takes up ₹189-cr Tuensang-Longleng road project

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Aurangabad roads get ₹152-cr road building booster

In response to a proposal sent by the Aurangabad Municipal Corporation in Maharashtra, the state government has cleared ₹152-cr for the development of roads with in the municipal limit, State Urban Development Minister Eknath Shinde Read More ...

Chennai metro gets ₹3,100-cr funding

The state has allocated 3,100 crore for construction of Chennai Metro Rail Project's phase-2 spanning 118.9 km. The state has also requested the Centre to approve funding for the project and provide 50% equity share capital Read More ...

Coastal road worth ₹13,000-cr reaches tunneling stage

Piling and reclamation work for the ₹13,000 crore Coastal Road project is in full swing and the next step is construction of two tunnels in South Mumbai, said MMRDA sources. Digging of the tunnels would begin shortly and will Read More ...

MRIDC steers ₹16,039-cr Pune-Nashik high speed rail project

Maharashtra Railway Infrastructure Development Corporation (MRIDC) has sought approval from the Railway board and the Govt. of Maharashtra for Pune-Nashik semi-high-speed train service, which aims to reduce the travel time between Read More ...

TN takes up 10-km long ₹1,620-cr elevated project

The Tamil Nadu government has decided to construct a 10.1km four-lane flyover on the expressway starting from Uppilipalayam Junction and ending after Kovai Medical Centre Hospital (KMCH). Deputy chief minister and state finance Read More ...

Pune pushes three metro rail projects

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PMRDA plans ₹600-cr two-tier twin flyovers

The Maharashtra government has directed the Pune Metropolitan Regional Development Authority (PMRDA) to build two-tier flyovers comprising a vehicular thoroughfare and a Metro viaduct at three key junctions in the city Read More ...

CMRL unveils fifth metro corridor worth ₹178-cr

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Godrej plans residential project on ₹1,359-cr land parcel

Godrej Properties has announced a new project in the residential market of Ashok Vihar in Delhi on a land it has fixed from the Railway Land Development Authority at a value of ₹1,359 crore. The the over 26.58 acre residential Read More ...

UP fast tracks Ganga e-way with ₹2,000-cr infusion

To fastrack the Ganga Expressway, the UP government has infused ₹2000 crore for its construction. One of the longest in India at 637-km, the Expressway will connect Meerut to Prayagraj. In a related development, shortly after Read More ...

BMC speeds up ₹350-cr Versova-Madh bridge project

BMC's long-pending project to build a bridge between Versova and Madh Island is set to kick off with the appointment of a consultant by the civic body. The bridge will bring down travel time from Versova to Madh from 1 hour Read More ...
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