Page 2 - Infrastructure Projects

Time to press accelerator with higher infra spend, inviting global capital

It's a different equation that markets where the money went to, did not perform and one saw FII money flowing into India once again in the fourth quarter of 2022

343 infrastructure projects show cost overruns of Rs 4.5 lakh crore

As many as 343 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.5 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 1,438 projects, 343 reported cost overruns and as many as 835 projects were delayed. "Total original cost of implementation of the 1438 projects was Rs 20,35,794.75 crore and their anticipated completion cost is likely to be Rs 24,86,069.52 crore, which reflects overall cost overruns of Rs 4,50,274.77 crore (22.12% of original cost)," the ministry's latest report for December 2022 said. According to the report, expenditure incurred on these projects till December 2022 was Rs 13,45,794.16 crore, or 54.13 per cent of the anticipated cost of the projects. However, the number of delayed projects decreases to 673 if delay is calculated on the basis of the latest ...

Budget should make infra projects investor friendly: IIFCL MD PR Jaishankar

In an interview with Nikesh Singh, IIFCL managing director PR Jaishankar talks about the way ahead for the key infra financier

USTDA expecting portfolio to unlock $37 bn financing in India: Director

Director of USTDA, Enoh T Ebong, also informed that USTDA has launched a new partnership with eight state governments India for 'interstate clean energy procurement partnership'

G20 Infra Working Group discusses how to make cities sustainable, resilient

"Any plan that a city drafts should have a dynamic approach as things keep changing and every programme should be focused on people"

Insurers can classify green bond purchases as infra investments: Irdai

The investments in green bonds can qualify towards statutory liquidity ratio (SLR) - the minimum percentage of deposits commercial banks are required to invest in liquid assets, such as government bon

PM GatiShakti maps data layers related to social sector infrastructure

The 12 Ministries and Departments onboarded are now in advanced stages of data integration onto the NMP Platform

Assam CM launches Rs 1,776-crore infrastructure projects in Guwahati

Assam Chief Minister Himanta Biswa Sarma on Thursday laid foundation stone of seven infrastructure projects, including a new Raj Bhavan and Guwahati Police Commissioner's office, worth Rs 1,776 crore in the state capital. Sarma started with the foundation stone laying for a new Raj Bhavan at Kharghuli in presence of Assam Governor Jagdish Mukhi. "To be built for Rs 41.32 crore in 18 months, the new Raj Bhavan will be one of most beautiful governor houses in the country," the chief minister tweeted after the ceremony. He also laid the foundation stone for construction of the new Police Commissionerate at Khanapara, Guwahati. "To be completed in 24 months, the Rs 95-crore building will house all departments and branches working under Commissioner of Police, Guwahati and boost police administration in the city," he said. The government will further spend Rs 544.44 crore for redevelopment of Guwahati Police Reserve Campus, Sarma said. "It will also include residential quarters for po

Rajnath Singh to inaugurate infra projects in Arunachal Pradesh today

Singh will inaugurate the Siyom Bridge near Boleng in Siang district and also virtually inaugurate 27 projects of the Border Roads Organisation (BRO)

Welspun completes sale of six road assets to Actis for Rs 6,025 crore

Welspun exited 49 per cent of the BOT toll road and the remaining 51 per cent will require clearances expected to be completed by March 2024, it said in an exchange filing

Bharat Highways InvIT files draft papers with Sebi to raise Rs 2,000 cr

Infrastructure investment trust Bharat Highways InvIT has filed draft prospectus with the capital markets regulator Sebi to mop-up Rs 2,000 crore through an initial public offering (IPO). Proceeds of the issue will be used to repay certain loans obtained by the Project SPVs (special purpose vehicles) and for general corporate purposes, according to the draft red herring prospectus (DRHP). These SPV projects include Porbandar-Dwarka Expressway, Varanasi-Sangam Expressway, GR Sangli-Solapur Highway, GR Akkalkot-Solapur Highway, GR Phagwara Expressway and GR Gundugolanu-Devarapalli Highway. Bharat Highways InvIT was set up in August 2022 to acquire 100 per cent stake in each of Project SPVs from GR Infrastructure Ltd including GDDHPL, wherein the InvIT proposes to initially acquire 49 per cent stake. As per the draft papers, Bharat Highways InvIT (infrastructure investment trust) would issue units aggregating up to Rs 2,000 crore. The issue will be made through the book building pro

Gadkari wants surety bond insurance, not bank guarantee for infra projects

Launches country's first surety bond product, says instrument offers relief to contractors; govt has built in safeguards to protect insurers as well

364 infrastructure projects show cost overruns of Rs 4.52 trillion: Report

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

L&T, CPPIB divest stake in L&T Infra Projs to Edelweiss SPV for Rs 2,723 cr

Enterprise value pegged at Rs 6,000 crore; portfolio includes 8 roads and one power transmission asset; deal closure likely by end of FY23

Way clear for India's longest elevated 6-lane flyover in Kerala's Alappuzha

The decks have been cleared for the work to begin on the construction of the country's longest elevated 6-lane flyover in Kerala's Alappuzha district at a cost of Rs 1,668.50 crore

DPIIT ropes in 5 social sector ministries for infra development

The five ministries/departments are health, ministry of women and child development, department of rural development and panchayat raj, education, and ministry of housing and urban affairs

Centre nods for Goa like beach shacks across coastal states to lift tourism

Shacks are crucial to tourism and local businesses in Goa and Maharashtra and currently, they have to be removed in the monsoon months (June to August)

UP acquires 95% of land for 595-km Ganga Expressway mega project

The mega project is estimated to be commissioned in November 2025

Sembcorp acquires 100% stake in GIP-backed Vector Green for Rs 2,780 cr

Vector has a total portfolio of 583 Mw across 13 states; deal will take Sembcorp's gross renewable assets in India to 3 Gw

PM Modi launches infra projects worth Rs 15,233 cr in Andhra Pradesh

: Prime Minister Narendra Modi on Saturday dedicated to the nation the Rs 2,917 crore U-field Onshore Deepwater Block project of ONGC in Andhra Pradesh. It is the deepest gas discovery project with a production potential of about three million metric standard cubic metres per day (MMSCMD). On the second day of his two-day tour of the state, the Prime Minister in all launched nine projects worth Rs 15,233 crore in virtual mode from the Andhra University Engineering College grounds and unveiled a plaque. Andhra Pradesh Governor Biswabhusan Harichandan, Chief Minister Y S Jagan Mohan Reddy, Union Railways and IT Minister Ashwini Vaishnaw, state ministers, MPs and legislators attended the event. Modi dedicated the 39-km Narasannapeta to Pathapatnam section of NH-326A built at a cost of Rs 211 crore as part of the Srikakulam-Gajapati Corridor. The project would provide better connectivity to the backward areas of AP and Odisha. Modi laid foundation stone for the AP section of six-lane