The Government Plans to Spend Rs. 81,000 cr on The PMGSY
Completing construction work of more than 47,000 km of rural road still the end of 2016-17, the Centre now hopes to construct 59,000 km of roads in rural areas in 2017-18 at a rate of 150 km a day.
Work on Marine Lines-To-Sea Link Stretch to be Split Into 3 Parts
As many as 13 companies, including L&T and Reliance Infrastructure and firms from China, Japan, Korea, Dubai and Turkey, have shown interest in constructing the first phase of the coastal road, from Marine Lines to the Worli end of the sea link.
PMAY’s Main Focus is Providing Housing for all by 2022
Prime Minister’s Awaas Yojana (PMAY), as part of Narendra Modi’s ambition of providing housing for all by 2022, when the country celebrates its 75 years of independence. The government, in a bid to give a boost to the real estate sector, had accorded infrastructure status to the affordable housing segment in this year’s budget.
World Bank Approves $375 Million to Develop Ganga Waterway
The World Bank will support India as it sustainably develops its first modern inland water transport fairway on a 1,360 km-stretch of the Ganga river between Varanasi and the seaport of Haldia, bringing thousands of jobs in cargo logistics and transportation to one of the most populous regions in the country.
HUDCO Extends Rs 1,000 cr to MSRDC, Maharashtra
Housing and Urban Development Corporation (Hudco) has sanctioned over Rs 1,000 crore loans to the cash-starved Maharashtra and its State Road Development Corporation (MSRDC). The loan will be have a 10-15 years repayment period, and will attract an interest rate of 9.25-11% State chief secretary Ajit Nimbalkar told “Hudco has sanctioned in all Rs 800 crore to MSRDC.
CIDC Bestows ‘Industry Doyen’ Status to Anti-corrosion Expert Dr. S. K. Manjrekar
Dr. S. K. Manjrekar, Chairman & Managing Director of the award-winning Sunanda Speciality Coatings Pvt. Ltd., has been honoured with the ‘Industry Doyen’award by the Construction Industry Development Council(CIDC).
Dilip Buildcon Bags Rs 3,269 cr Worth NHAI Projects in Maharashtra
Dilip Buildcon has bagged three road projects from National Highway Authority of India worth rs 3,269 crore in Maharashtra. The first project is for four-laning of Mahagaon to Yavatmal section of NH-361 from km 320.580 to km 400.575 at a project cost of rs 1,160.64 Crore.The second project is for four-laning of Yavatmal to Wardha section of NH-361 from km 400.575 to km 465.500 at a project cost of rs 1,043.28 Crore. The third is for four-laning of Wardha-butibori section of NH-361 from km 465.500 to km 524.690 at a project cost of rs 1,065.51 crore. Completion period for all projects is 30 months.
IL&FS Wins Rs 175 cr Road Project in Madhya Pradesh
“The Joint Venture comprising IL&FS Engineering and Construction Company Ltd and IL&FS Transportation Networks Ltd in the ratio of 49:51 (Joint Venture) has received LOA (letter of award) for package no P-2 from MPRDC worth Rs 175.48 crore,” the company said in a statement.
Rejuvenation of Stalled Project
The Centre has finally managed to break the chokehold of stalled infrastructure projects, by giving faster clearances and closely monitoring these at the highest level. According to the Centre for Monitoring Indian Economy (CMIE) data released, only 24 projects under implementation were stalled as of March. The investment in these projects was ~25,700 crore — the lowest in any quarter since December 2008. In the March 2016 quarter, it was ~92,000 crore.
Rs 10 Trillion Umbrella Road Project Bharatmala
The ambitious10-lakh-crore umbrella programme for roads, Bharatmala, will subsume the National Highways Development Project (NHDP), launched by the Atal Bihari Vajpayee government in 1998. Road Transport and Highways Minister Nitin Gadkari has been stressing the need for reducing logistics cost in the country from the current 18 per cent.