30 Sep 2023

JSW Group, led by Sajjan Jindal, plans to establish a 3,000-acre industrial park in Salboni, Bengal, deviating from its initial plan of returning the land to the state government. The conglomerate's $23 billion business empire aims to attract domestic and international investors, promoting economic growth in the region. The shift follows changes in Bengal's land policies, prompting JSW to reconsider and maximize the land's potential for industrial diversity. This strategic move highlights JSW Group's commitment to fostering investment, job creation, and positive contributions to Bengal's development landscape.Read more

30 Sep 2023

The Panvel Municipal Corporation (PMC) has granted approval for road development, beautification, and associated works amounting to Rs 421 crore, marking a significant milestone in infrastructure development in the region. These projects will address long-standing grievances of residents in areas previously under CIDCO administration and reflect the PMC's commitment to comprehensive development and sustainable urban growth. The emphasis on environmental clearances for initiatives like lake desilting underscores the PMC's dedication to balanced and forward-thinking urban planning.Read more

30 Sep 2023

The Mumbai Metropolitan Region Development Authority (MMRDA) has finalized contractors for the Mogharpada Depot in Thane and a ballastless track connecting Mulund Fire Station to Gaimukh. These developments are part of the Mumbai Metro Routes 4 and 4A project, aimed at enhancing connectivity between major Mumbai cities. M/s. SEW-VSE (JV) will oversee the depot's construction, while M/s. Apurvakriti Infrastructure Pvt. Ltd. handles the track installation. MMRDA Commissioner, Dr. Sanjay Mukherjee, highlighted the urgency of the project, ensuring swift progress for public accessibility.Read more

29 Sep 2023

The estimated construction cost of the bridge project connecting Mumbai and Mira Bhayandar has significantly increased to Rs 3,303 crore from its initial estimate of Rs 1,998 crore in just three years. This escalation has raised concerns among activists and politicians, questioning why the entire financial burden should be borne by the Brihanmumbai Municipal Corporation (BMC). BMC's civic chief has proposed a cost-sharing arrangement with the Mumbai Metropolitan Region Development Authority (MMRDA) to divide the expenses based on jurisdiction. However, a final decision is pending as the MMRDA awaits a response from the Chief Minister's Office (CMO). The increased cost includes factors like maintenance, taxes, and rent for a casting yard.Read more

29 Sep 2023

The proposed Visakhapatnam metro rail project, initially introduced nine years ago, remains stuck in the detailed project report (DPR) phase. Despite preparing a DPR and shortlisting bidders in 2019, the project's progress halted due to political changes and financial challenges, including the withdrawal of funding by the Export-Import Bank of Korea. A new DPR, encompassing additional areas, was later prepared. As of now, the estimated cost for the extended 76.9-kilometer project stands at 14,309 crore, with tram corridors proposed for about 60 kilometres. The project's future depends on approvals and funding availability from the Union government.Read more

28 Sep 2023

The Mumbai Municipal Corporation (BMC) has greenlit a crucial infrastructure project, allocating Rs 6,602 crore rupees for the construction of two tunnels beneath the Sanjay Gandhi National Park. These tunnels, linking Goregaon to Mulund, are set to alleviate transportation challenges. The project, delayed by technical issues and the pandemic, is expected to take five years and will include maintenance for a decade. The tunnels will have cross passages for emergencies, a footpath, and water main relocation near an eco-sensitive zone. It will improve connectivity between eastern and western suburbs, providing a direct route to Navi Mumbai.Read more

28 Sep 2023

The government of Uttar Pradesh is gearing up to launch private industrial and infrastructure projects worth nearly Rs 10 trillion by December, as part of its efforts to establish the state as a preferred investment destination. These projects stem from the 19,000 investment proposals totalling Rs 35 trillion received during the UP Global Investors Summit. Initially slated for August or September, the ceremony for these projects is now expected to be held in November or December due to departmental delays. The state aims to attract investors and industrialists to boost its economy and achieve the goal of becoming India's first $1 trillion economy.Read more

27 Sep 2023

Haryana Chief Minister Manohar Lal Khattar has given the green light to the Faridabad Development Plan-2031, a strategic vision for the city's growth. The plan designates the area near the Yamuna canal as a "controlled area" and capitalizes on the opportunities stemming from the development of the Jewar Airport in Noida. During a meeting of the Faridabad Metropolitan Development Authority (FDA), a budget of Rs 878.23 crore was approved for 2023-24, with a focus on infrastructure, citizen services, and environmental improvements. The plan addresses critical aspects like water supply and sewage treatment, as well as road enhancements and enhanced security measures through CCTV surveillance. This marks a significant step towards Faridabad's comprehensive development.Read more

27 Sep 2023

Chennai Airport is set to demolish its T3 terminal next month to make way for a modern integrated terminal as part of a major upgrade project worth Rs 2,467 crore. The initial steps involve dismantling electrical equipment, with the demolition expected to last 2-3 months, followed by construction of the new terminal. This project, spread across a vast area, aims to double the airport's passenger capacity to 35 million annually by 2025. The first phase of the new terminal has already opened, signalling progress towards this ambitious goal.Read more

27 Sep 2023

Samakhiyali Tollway Private Limited, a subsidiary of IRB Infrastructure Developers, has secured financial closure for the Samakhiyali-Santalpur BOT highway project in Gujarat, India, with a total cost of Rs 2,092 crore. The project will be executed under the Build Operate and Transfer (BOT) mode. Lenders have extended Rs 1,446 crore in debt support, while the remaining Rs 646 crore will come from equity contributions and internal accruals. This achievement follows the recent commencement of the Hyderabad Outer Ring Road project, and IRB has now achieved financial closure for all projects in its portfolio, with a focus on execution and future opportunities.Read more