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India's Infrastructure
Prime Minister Narendra Modi will inaugurate several infrastructure projects, including the state-of-the-art integrated terminal building at the Chennai airport, upon his arrival in the state on Saturday. Security has been beefed up across the city in view of the visit while motorists have been asked to plan ahead of their journey to reach their destination as elaborate traffic diversions have been made, police said. Following his arrival, Modi will open the new terminal, the first phase of which has been completed. It is expected to enhance the passenger traffic to 35 million per year. "This will be an important addition to Chennai's infrastructure. It will boost connectivity and also benefit the local economy," Modi had said in a tweet. According to Chennai airport officials, the new integrated terminal is spread across 2.20 lakh sq metres and would cater to the growing air traffic in Tamil Nadu. The terminal is also a reflection of the government's commitment towards providing
Sizeable equity commitments in under-construction projects and rising working capital needs will increase the debt burden of road developers but revenue growth is set to remain high, driven by strong contract awards and execution in the next fiscal, according to a report. Besides, a high budgetary allocation to the sector will also help road developers, it added. With the prevailing low leverage levels, developers have the headroom to borrow more to fund new projects, which will keep their credit risk profiles stable, said a Crisil report, which also notes that asset monetisation will be crucial to rein in debt. The report is based on the analysis of 18 engineering, procurement and construction (EPC) players, constituting 70 per cent of the sectoral revenue. According to Mohit Makhija, a senior director at the agency, total equity commitment towards the under-construction public-private partnership (PPP) projects is estimated at over Rs 21,000 crore by fiscal 2025. The working cap
Arunachal Pradesh Chief Minister Pema Khandu Friday said the Central government is capable enough to tackle the border issue between India and China, and accordingly giving more thrust to infrastructure development. The process of building adequate infrastructure, particularly border connectivity, is being speeded up in the northeastern state. Work on the 2000-km-long Arunachal Frontier Highway has already started in certain sections and work is going on in full swing for construction of the Sela tunnel, located at a height of 13,700 feet. Responding to a question of Congress MLA Ninong Ering, the chief minister said that the Centre has increased the presence of army and para-military personnel on the border with China after the recent standoff between both neighbours. Referring to the recent face-off between Indian and Chinese soldiers at Yangtse in Tawang district of the state, Khandu said, India is not as before and the situation has changed after the BJP-led NDA came to power a
Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Friday said the state has received investment proposals worth Rs 13 lakh crore with an employment opportunity for six lakh people. Speaking at the inaugural session of the Global Investors Summit 2023 being held here, the Chief Minister said MoUs worth Rs 11.85 lakh crore will be signed today and the rest would be formalised on Saturday. He also said the investment proposals are from Reliance, Adani Group, Aditya Birla group, ReNew power, NTPC and Aurobindo Group among others. Reddy reiterated that Visakhapatnam would become the executive capital of Andhra Pradesh in the days to come and he will be moving over to the port city. "It is a proud moment to announce that the state has received 340 investment proposals with an investment of about Rs 13 lakh crore providing employment to almost six lakh people across 20 sectors," he said. He further said 2023 is an important year for India as the country is hosting the G20 summit unde
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President Droupadi Murmu on Tuesday said the government has taken concrete steps and has prepared the PM Gati-Shakti National Master Plan to deal with infrastructure development challenges. The states and Union Territories have also shown enthusiasm regarding the PM Gati-Shakti National Master Plan and this will expand multi-modal connectivity in the country, she said. "Over the past decades, we have noticed two major challenges in building infrastructure in India. Firstly, large infrastructure projects could not be completed on time. Secondly, different departments and governments worked according to their own convenience," she said. This, the President said, not only resulted in the misuse of government resources and time overruns, but also led to inconvenience to the common man. "My government is striving to make India the most competitive logistics hub of the world. For this, the National Logistics Policy was launched in the country last year," she said. Implementation of this
As many as 364 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.52 lakh crore, as per an official report. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects of Rs 150 crore and above, out of 1,476 projects, 364 reported cost overruns and as many as 756 projects were delayed. "Total original cost of implementation of the 1476 projects was Rs 20,84,124.75 crore and their anticipated completion cost is likely to be Rs 25,36,179.03 crore, which reflects overall cost overruns of Rs 4,52,054.28 crore (21.69% of original cost)," the ministry's latest report for November 2022 said. According to the report, the expenditure incurred on these projects till November 2022 was Rs 13,67,245.45 crore, or 53.91 per cent of the anticipated cost of the projects. However, the number of delayed projects decreases to 626 if delay is calculated on the basis of the lates