Infrastructure

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NHAI achieves record capital expenditure of INR 2.07 lakh crore in 2023-24

Author : PNT Reporter

In the financial year 2023-24, the National Highways Authority of India (NHAI) set a record with INR 2.07 lakh crore expenditure, constructing 6,644 km of highways, a 20% increase from the previous year. Monetization receipts reached INR 40,314 crore, with notable contributions from toll-operate-transfer bundles and Infrastructure Investment Trusts (InvITs). NHAI's capital expenditure rose by 20% to INR 2.07 trillion, surpassing the target of 6,544 km. Despite a slowdown initially, NHAI exceeded expectations. Other entities within the Ministry of Road Transport and Highways contributed to achieving the overall target of 13,814 km of highway construction. Awarding highway projects lagged, affecting future construction....

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UrbanWrk launches premium flexi space at Max House in Okhla, Delhi

Author : PNT Reporter

UrbanWrk's premium flexi space at Max House, Okhla, Delhi, signals a leap in the managed workspace industry, catering to the NCR's demand. With 275 seats, this sustainable, tech-driven workspace meets diverse company needs. Founder Anuj Munot's enthusiasm reflects UrbanWrk's ambitious expansion and confidence in NCR's potential. The flexi space sector, valued at USD 9 billion, is rapidly growing, with India's space set to double by 2028. UrbanWrk's collaboration with Max Estates aligns with NCR's rising prominence. Max House offers top-notch amenities, reflecting UrbanWrk's commitment to innovation and collaboration, creating an optimal environment for productivity and creativity....

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BMC seeks ECI approval to fast-track Gokhale bridge alignment

Author : PNT Bureau

The Brihanmumbai Municipal Corporation (BMC) aims to merge the Gopal Krishna Gokhale Bridge with the Barfiwala Flyover by seeking Election Commission of India (ECI) permission to expedite construction during the code of conduct period. Costing INR 8 crore, the merge involves lifting the last four spans of the flyover to align with the bridge. Veermata Jeejabai Technological Institute (VJTI) confirmed the feasibility in their report, estimating a 90-day process. The BMC awaits a second opinion from IIT-Bombay before floating tenders. The Gokhale Bridge's elevation, due to railway guidelines, caused misalignment with the flyover, constructed in 2008, prompting the merge for seamless connectivity....

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Yamuna Expressway authority plans five industrial parks near Noida airport

Author : PNT Reporter

Yamuna Expressway Authority has announced the development of five industrial parks adjacent to Noida International Airport. These parks will cater to various industries, including electric vehicles, plastic processing, footwear manufacturing, handicrafts, and transportation services. This strategic move aims to strengthen the economic growth in the region and attract investment opportunities.The proposed EV Park is expected to host units manufacturing electric vehicles and parts. The Uttar Pradesh government has initiated the land acquisition process, with the distribution of compensation anticipated upon completion of formalities, paving the way for industrial development in 2024....

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CSMT gears up for INR 2,450 crore renovation, introducing 24x7 centre

Author : PNT Reporter

Chhatrapati Shivaji Maharaj Terminus (CSMT), a UNESCO World Heritage site, is set for a grand makeover. A recent high-level meeting chaired by Anil Kumar Khandelwal, member (infrastructure) of the Railway Board, discussed the INR 2,450-crore redevelopment plan. The project includes a common elevated deck stretching from D N Road to P D'Mello road and a 24x7 City Centre named 'Rail-O-Polis'. Offices housed in the administrative building on D N Road will likely be relocated as part of the modernization. The revamped CSMT will also feature improved amenities and connectivity, integrating with various modes of public transit....

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Shivshahi Punarvasan Prakalp Ltd. will allocate 500 crores to MMRDA for rental payments

Author : PNT Reporter

The Mumbai Metropolitan Region Development Authority (MMRDA) is said to receive INR 500 crore from Shivshahi Punarvasan Prakalp Ltd. (SSPL) for rental payments in the Ramabai Amebedkar Nagar redevelopment project at Ghatkopar. MMRDA aims to smoothly execute the slum redevelopment, although the specific rent amounts for households are pending. This marks MMRDA's first slum redevelopment endeavor. Additionally, MMRDA will collaborate with the slum rehabilitation authority for the Ramabai Ambedkar redevelopment project and for clearing land for the Eastern Freeway extension to Thane. The project, covering 33.15 hectares with 16,575 slum dwellers, will cost approximately INR 3,200 crore....

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Adani Ports expands Eastern Coast presence with INR 3,350 crore acquisition of Gopalpur port

Author : PNT Reporter

Adani Ports and Special Economic Zone (APSEZ), India's largest port operator, has acquired a 95% stake in Odisha's Gopalpur Port for INR 3,350 crore, expanding its presence on the eastern coastline. With a capacity of 20 million tonnes per annum (MTPA), Gopalpur Port offers strategic access to key mining hubs, enabling Adani Ports to handle diverse cargo like iron ore, coal, and alumina. APSEZ plans to leverage its expertise to enhance operational efficiency and explore infrastructure upgrades to unlock the port's growth potential. This acquisition strengthens Adani Ports' position and underscores ongoing consolidation in India's port sector, promising greater efficiency and competitiveness....

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Barfiwala flyover in good shape, no demolition needed: VJTI report confirms

Author : PNT Reporter

VJTI Mumbai's report to BMC suggests lifting and merging the last four sections of Andheri's Gokhale bridge with CD Barfiwala flyover to address misalignment. Both structures are deemed structurally sound, with no need for Barfiwala's demolition. The merging process, estimated to take 90 days, involves lifting spans and adjusting pedestals. BMC's insistence on a solution without demolishing either bridge prompted the report. Barfiwala flyover, built in 2008, connects Juhu to Gokhale Bridge. The latter, rebuilt in 2022, faces alignment issues due to elevated railway track guidelines. The merging solution aims to streamline traffic flow between the two structures....

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BMC allocates INR 1,000 crore to MMRDA for metro projects from its fixed deposits

Author : PNT Reporter

The BMC has allocated INR 1,000 crore from its fixed deposits to MMRDA for Metro projects, despite no provision in the 2023-24 budget. This contribution is part of the BMC's obligation to cover 25% of the project costs, as decided in a 2016 meeting. The total contribution to MMRDA is INR 5,000 crore, with INR 1,000 crore disbursed now and the remainder in the next fiscal year. The initiative aligns with a broader funding policy where municipal corporations cover 25%, state government 25%, and the rest through loans. Improved infrastructure, including metro lines, is expected to boost property tax revenue for the BMC....

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Haworth expands its presence with second manufacturing plant in India

Author : PNT Bureau

Haworth, a global leader in workspace solutions, has announced plans for its second manufacturing plant in Sriperumbudur, India, with an investment of USD 8-10 million. Doubling the current space to 113,000 sq ft, the new facility will produce key products like Zody, Fern, and Aloha, catering to domestic and international markets. With a focus on premium seating and expanding into emerging Tier-II cities, Haworth aims to meet the growing demand while reducing import dependency. The move underscores the company's commitment to India and the broader Asia-Pacific region, enhancing its position as a preferred workspace solutions provider globally, employing over 8,000 professionals across 150+ countries....