Infrastructure

link

IRB Infrastructure bets big on BOT model for highway development

Author : PNT Bureau

IRB Infrastructure Developers has committed most of its planned investments for 2024-25 towards expanding road capacity through the Build-Operate-Transfer (BOT) model of public-private partnership. The company plans to invest INR 10,000-12,000 crore, with around INR 8,000 crore expected from BOT projects. It is also targeting INR 4,000 crore from acquiring highway assets through Toll-Operate-Transfer deals. This focus on BOT comes as the government pushes greater private participation in developing highways. IRB currently owns and operates 15,000 lane km of roads across 12 states through various PPP models including BOT, HAM and TOT....

link

Loaded integrated trials set to begin on Mumbai's Metro 3 Aqua Line

Author : PNT Bureau

The Aqua line, Metro 3, in Mumbai, is reaching a crucial phase with loaded integrated trials set to begin on the Aarey-Bandra Kurla Complex route. These trials, involving filled coaches, ensure operational safety and functionality before passenger operations commence. With 96% of the project already completed, now the focus is on station beautification and multimodal integration to enhance the commuter experience. Metro 3's advanced features, including unmanned operation, signify a step towards delivering a world-class metro system for Mumbai residents....

link

Royal India Corporation launches Kalyan Marina project worth INR 450 crore

Author : PNT Bureau

Royal India Corporation Limited (RICL) is investing INR 450 crore into Kalyan Marina, a transformative project in Kalyan, Maharashtra. Spanning 2.2 acres, the development aims to create 5 lakh square feet of modern living, office, and retail spaces. Sunder Iyer and Mangal Keshav's family offices are backing the project with a preferential issue of INR 100 crore, showcasing confidence in Kalyan's growth. Kalyan Marina's strategic location near Kalyan Station aligns with the ongoing INR 900 crore modernization project, promising enhanced connectivity and convenience. This significant investment signals Kalyan's emergence as an attractive destination for residential and commercial ventures, bolstering its future prospects....

link

From Farmland to Airport City: Jewar's real estate boom ahead of airport launch

Author : PNT Bureau

The Noida International Airport in Jewar is nearing completion, with trial operations expected to begin by the end of June. Recognized as the "Jewar airport," this project has transformed the region into an airport town, attracting real estate investments and economic opportunities. Local residents are capitalizing on this growth through land investment and property rentals. Land prices are expected to rise significantly post-operationalization, prompting investors to buy plots nearby. Additionally, the surge in housing demand has led residents to rent out rooms and buildings, fetching monthly rents ranging from INR 5,000 to INR 8,000. The state government is developing a metro connection to enhance connectivity. However, long-term prosperity depends on human capital development, prompting calls for improved educational facilities and vocational training institutes....

link

Crawford market redevelopment strikes a balance between heritage preservation and modern necessities

Author : PNT Bureau

Mahatma Jyotiba Phule Mandai, commonly known as Crawford Market, is undertaking a phased redevelopment. After undergoing Phase 1 renovations from 2015-2018, the heritage market is set to open this summer. The redevelopment includes the iconic fountain as well as an open space in its center, and the new market building will cater to fish and meat sellers. The project aims to enhance the market's appeal and functionality to visitors while preserving its historical significance. Once complete, the revitalized market will honor its past while gaining amenities to better serve customers for years to come....

link

Bombay HC upholds approval for Vadhavan greenfield port project

Author : PNT Bureau

The Bombay High Court upheld the Dahanu Taluka Environment Protection Authority's (DTEPA) order allowing the Jawaharlal Nehru Port Authority (JNPA) to develop a greenfield port at Vadhavan, Palghar district. It rejected petitions by Conservation Action Trust and National Fish-worker's Forum challenging the order. The court observed that DTEPA considered all relevant aspects and proposed mitigation measures. However, JNPA still needs clearances from various authorities. The court acknowledged DTEPA's earlier stance against a port in the 'ecologically fragile' Dahanu, but noted changes allowing ports in such areas. The INR 76,220 crore project, a JNPA-Maharashtra Maritime Board joint venture, spans 17,471 hectares....

link

Rise in Indian road sector M&A, NHAI to raise INR 54,000 in FY25

Author : PNT Bureau

The National Highways Authority of India (NHAI) aims to raise INR 54,000 crores through project-based funding and asset monetization in the upcoming financial year. In the 2024 fiscal year, NHAI accrued INR 38,334 crores from project-based financing and its monetization program, including Toll Operate Transfer (ToT) and Infrastructure Investment Trust (InVIT). ToT allows private companies to operate select highways, while InVIT pools investments for infrastructure projects, generating returns for investors. NHAI plans to monetize 33 highways across India, totaling 2471 kms, generating INR 49,314 crores in the previous fiscal year. With asset monetization remaining a key financial strategy, NHAI has raised INR 1.08 trillion out of its INR 1.60 trillion target. The road sector, aided by initiatives like InVIT, has witnessed significant growth, attracting global investors and driving econom...

link

BMC focuses on identifying Mumbai's vulnerable landslide zones

Author : PNT Bureau

The Brihanmumbai Municipal Corporation (BMC) has identified 74 vulnerable landslide-prone areas in Mumbai, out of a total of 160. These areas, mostly natural hillocks and elevated lands, pose significant risks, with 15 in Ghatkopar, 9 in Kurla, and 5 in various other locations. The eastern suburbs have the highest number of vulnerable sections. Following a tragic landslide in Pune in 2017, the Geological Survey of India provided recommendations, prompting BMC to take action. Landslide-prone areas are categorized into high, medium, and low-risk zones, with population estimates for each. BMC's disaster management cell is training locals on landslide warnings and evacuation procedures. Recent incidents have led to temporary resettlement efforts....

link

Reliance MET City records 60% growth in 2023-24, attracting over 540 companies

Author : PNT Bureau

Reliance MET City in Haryana's Jhajjar district exemplifies India's prowess in creating futuristic urban centers. Led by Reliance Industries Limited (RIL), the project boasts over 540 companies across diverse sectors, with a surge in plot bookings to INR 1913 crore in the past financial year. Featuring essential amenities like hospitals and schools, MET City aims to accommodate a diverse workforce while promoting a vibrant social environment and work-life balance. With a focus on sustainability, community development, and collaboration with Reliance Foundation, MET City emerges as a model for integrated, eco-friendly urban development, poised to drive economic growth and innovation in North India....

link

BMC begins work on connecting Gokhale and Barfiwala bridges

Author : PNT Bureau

The BMC has initiated the alignment of Gokhale and Barfiwala bridges in Mumbai, addressing a six-foot gap between them. Supervised by IIT-B and VJTI experts, the process began with removing the top layer of Barfiwala flyover. Due to election regulations, the existing contractor for Gokhale bridge reconstruction will be responsible for merging the structures. The deadline for completion is set for June 30, with an allocated budget of INR 3 crore. VJTI confirmed the feasibility of merging without demolishing Barfiwala flyover, prioritizing structural integrity and public safety....