AAI inks MoU for international airport in HP

Airports Authority of India (AAI)
The process of building the first international level airport in Himachal Pradesh in Mandi district gained momentum as the state government has signed a MoU with the Airports Authority of India (AAI). The greenfield airport at Nagchala in Mandi will be a joint venture company (JVC) wherein AAI will hold 51% equity and 49% equity will be held by the state government. The JVC will undertake design, finance and construction for commercial civil aviation operation and maintenance, besides operation and management of the airport. The state government has initiated the process of acquiring and transferring the required land to the JVC and it would also have to bear the cost of land acquisition. The airport would not only boost tourism in the state, but would also be of strategic importance from the defence point of view as Himachal Pradesh shares its boundary with China.

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

The three Metro lines in Pune will become operational by 2022, two of which are being developed by MahaMetro, and the third by the Pune Metropolitan Region Development Authority (PMRDA). Union minister Prakash Javadekar Read More ...

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

Chennai Metro Rail Limited (CMRL), which conducted a feasibility study for the Coimbatore metro rail project, has decided to create a fifth corridor to connect Vellalore and Ukkadam and has also identified two places at Read More ...

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 ...

Kolkata rolls out plans for ₹5,246-cr rail projects

Following an outlay of ₹5,246 crore allotted in the Central Budget 2020-21, Kolkata has rolled out plans for ongoing, upcoming and new railway lines in West Bengal, said an official spokesperson, adding that due to the whopping Read More ...

Srei Infra-UCO Bank inks JV to fund construction equipment

A wholly-owned subsidiary of Srei Infrastructure Finance Limited (Srei) and UCO Bank, a premier public sector bank, have announced a strategic alliance to fiancé the purchase of construction and mining, farm and medical equipment Read More ...

UP approves ₹286-cr for Agra Metro rail project

The Uttar Pradesh Government has allocated ₹286 crore for Agra metro rail project where 27 stations are proposed to be developed along a 29.4 km long corridor. As of now, the state government has released ₹100 crore of the Read More ...

Ayodhya airport gets ₹500-cr booster

The UP government has cleared ₹500 crore for Ayodhya airport project. Also in Uttar Pradesh Budget-2019, the government had allocated ₹200 crore for the same project. The allocation for Ayodhya airport has gone up significantly as Read More ...

FM commits ₹18,600-cr for suburban rail network

The Finance Minister has committed funds for the 148-km suburban rail project in Bengaluru as the Cabinet has cleared the proposal for the project entailing an investment of ₹18,600 crore. The Centre and Karnataka will share 20% each Read More ...

NHAI floats tenders for ₹265-cr road projects

The National Highway Authority of India (NHAI) has floated two separate tenders for the upgradation of the Ring Road at an estimated cost of ₹139.99 crore in Karnataka. The first tender is related to developing the Ring Road between Read More ...
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