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Metro Projects

Union Budget 2023: Rs 19,518 crore allocated to metro projects across India

The government has allocated a total of Rs 19,518 crore to all metro projects across India in the Union Budget 2023-24, officials said on Wednesday. Finance Minister Nirmala Sitharaman in her speech in Lok Sabha said, "Our vision for the 'Amrit Kaal' includes technology-driven and knowledge-based economy with strong public finances, and a robust financial sector. To achieve this, Jan Bhagidari through Sabka Saath Sabka Prayas is essential". A senior official said the total budgetary outlay for year 2023-24 for all metro projects stands at Rs 19,518 crore. The allocation in 2022-23 was Rs 19,130 crore. However, the revised budget estimates for the same for 2022-23 was 15,628 crore, according to budget documents. In recent years, the Union Ministry of Finance has been allocating budget for all metro projects in India, instead of the Delhi Metro's alone, a senior official at the DMRC said. The outlay for this year includes equity investment of Rs 4,471 crore, subordinate debt of Rs 1

Updated On : 01 Feb 2023 | 7:57 PM IST

ADB approves $780 mn loan to expand Chennai's metro rail network

In 2021, ADB committed a record $4.6 billion in sovereign loans to India.

Updated On : 08 Dec 2022 | 5:10 PM IST

Reliance Infra moves SC against DMRC for payment of Rs 4,500 crore

Court issues notice to DMRC, seeks reply by Dec 12

Updated On : 02 Dec 2022 | 8:40 PM IST

Boost for Navi Mumbai metro project with financial closure for line 1

The process of financial closure for line number 1 of the upcoming Navi Mumbai metro project has been completed with the signing of an agreement between CIDCO and ICICI Bank for the Rs 500 crore line of credit, a release said on Wednesday. Navi Mumbai Metro Line 1 project is a three-coach metro train. The 11.1-km Belapur to Pendhar stretch of the project comprises 11 stations. "City and Industrial Development Corporation (CIDCO) signed an agreement for the industrial line of credit for Rs 500 crore with the Industrial Credit and Investment Corporation of India (ICICI). With this, the financial closure process for the metro line no. 1 project has been completed," CIDCO said in a release. Speaking about the major milestone, CIDCO vice chairman and MD Sanjay Mukherjee said the works on line number 1 of the project will be expedited. "Due to the Rs. 500 crore line of credit facility from ICICI Bank, the works of Line no. 1 will be expedited and it will be possible to travel on this lin

Updated On : 30 Nov 2022 | 9:15 PM IST

BEML's demerged non-core businesses entity's listing in one month

The BEML's demerged non-core businesses entity, BEM Land Assets Ltd, is expected to be listed in the next one month, a step toward divestment of the engineering major. The government seeks strategic divestment of 26 per cent post BEML demerger process of non-core assets. "Listing of demerged land company will be in a month's time. The valuation process is on. After listing, disinvestment process will be started," BEML chairman and managing director Amit Banerjee said. He was speaking on the sidelines of CII-organized Global Mining Summit 2022. He told PTI that the main assets of the demerged entity will be some total 550 acre of prime land in Bangalore and Mysore. The existing BEML shareholders have been given shares in the new demerged entity in a 1:1 ratio. State-owned BEML was focusing on defence and the metro railway business. Banerjee also mentioned that BEML, which currently has a 90 per cent localisation rate for defense trucks, in light of the government's outlook on mak

Updated On : 17 Nov 2022 | 12:12 AM IST

Centre to hold meeting on Nov 10 to discuss payment of dues to RInfra

In the last hearing on October 10, DMRC told the High Court that if Delhi Metro were to raise loans to pay the arbitration award to DAMEPL, it would fall into a 'debt trap'

Updated On : 31 Oct 2022 | 11:45 PM IST

JICA to consider upcoming corridors of Delhi Metro's phase-4 expansion

Estimated to cost Rs 24,000 crore, the phase looks to connect several gaps in the city's transport infrastructure

Updated On : 19 Oct 2022 | 12:32 AM IST

Govt orders, private capex fuel KEC's order book by Rs 6,000 crore

The company reported Rs 23,716 crore of orderbook in the fiscal year ended March 2022, up by 18% over the previous year and plans to bid for Rs 1.1 trillion of orders, which are in the pipeline

Updated On : 23 Sep 2022 | 11:50 PM IST

Tata Sons to invest Rs 975 crore in Pune IT City Metro rail project

The Rs 7,420-crore, 23-km project is being financed through debt-to-equity of 1.8 times and the entire debt has been tied up, and the envisaged equity commitment is supported by Tata Sons

Updated On : 13 Sep 2022 | 7:07 PM IST

Kalpataru Power bags Rs 1,345 cr orders for pipeline, metro electrification

Kalpataru Power Transmission Ltd (KPTL) on Tuesday said the company and its international subsidiaries have secured new orders worth Rs 1,345 crore. In a regulatory filing KPTL said, the company and its international subsidiaries have secured new orders/notification of awards of Rs 1,345 crore. The company has bagged the said orders in India and in the overseas market in the transmission and distribution (T&D) business, the filing said. The filing further said that the orders are for pipeline laying works secured in joint ventures or in consortium. Some of the orders are for Metro Rail Electrification in India secured in joint ventures or in consortium. "We are pleased with the new order wins secured across our business verticals. The order wins in the T&D and pipeline business help us to further consolidate our order book and establish leadership in key markets," said Manish Mohnot, Managing Director & CEO, KPTL. Mohnot further said that the second metro rail ...

Updated On : 06 Sep 2022 | 11:33 PM IST

DMRC chief Vikas Kumar visits Patna Metro project sites, meets officials

DMRC is working on the Patna Metro project, which is aimed at decongesting the city using a mass rapid transit network for the first time.

Updated On : 15 Jul 2022 | 10:11 PM IST

L&T arm bags 'significant' order from DMRC for Phase-IV of Delhi MRTS

L&T Construction has won a significant order from Delhi Metro Rail Corporation (DMRC) to design and construct the underground metro project of Phase-IV of Delhi MRTS. L&T Construction is the construction arm of infrastructure major Larsen & Toubro (L&T). "The heavy civil infrastructure business vertical of L&T Construction has won a significant order from...DMRC, to design and construct the Underground Metro Project of Phase-IV of Delhi MRTS," L&T said in a statement on Wednesday. According to the company, the value of significant order falls in the range of Rs 1,000-2,500 crore. The major scope of work for the project includes design and construction of a 5-km twin tunnel, cut and cover tunnel box, underground ramp and four underground stations namely Chhatarpur, Chhatarpur Mandir, IGNOU and Neb Sarai with associated works of Aerocity to Tughlaqabad corridor. A major part of the work is in South Delhi, which is to be completed within 42 months. The project is .