Kotak Mahindra Bank: RLLR: 0.75 | From: 8.7% - To: 10.5%
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Infrastructure News

RLDA's redevelopment project to modernise Nagpur Railway Station by 2025

The Rail Land Development Authority (RLDA) is redeveloping Nagpur Railway Station in Maharashtra to transform it into a modern transportation hub capable of accommodating up to 98,000 passengers daily. The project includes creating dedicated arrival and departure areas, connecting platforms via separate foot over bridges, and constructing a spacious 108-meter-wide concourse with amenities and retail options. The west side will feature a multi-level plaza with a 3,420 sqm parking area, while the east side will have separate arrival and departure buildings with a 13,250 sqm unified basement for parking. The project is 33% complete and aims to preserve the station's heritage while modernizing its functionality. Completion is expected by December 2025.Read more

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YEIDA expands land acquisition to 4,600 acres near Noida International Airport with INR 990 crore investment

The Yamuna Expressway Industrial Development Authority (YEIDA) is acquiring an additional 1,861 hectares (4,600 acres) near Tappal, Aligarh, to support industrial and manufacturing projects around the upcoming Noida International Airport. This expansion aims to counter unauthorised developments hindering progress on the 2,597 hectares (6,420 acres) of designated land. Key projects include a 950-hectare (2,347-acre) multimodal logistics park with an INR 990 crore investment. YEIDA CEO Arun Vir Singh emphasised the urgency to address illegal constructions and secure the area, ensuring Tappal's development into a significant industrial hub in western Uttar Pradesh.Read more

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AIIB considers INR 22,108 crore funding for Madurai and Coimbatore metro projects

The Asian Infrastructure Investment Bank (AIIB) is showing strong interest in financing metro rail projects in Madurai and Coimbatore, marking a crucial development in Tamil Nadu's urban mobility efforts. AIIB recently inspected the proposed 11.368 km Madurai metro route and plans to assess a similar 10.74 km route in Coimbatore soon. With Chennai Metro Rail Limited (CMRL) having prepared Detailed Project Reports (DPRs), the Coimbatore project is estimated at INR 10,740 crore, while Madurai's is INR 11,368 crore - totaling INR 22,108 crore. Pending Ministry of Finance approval, AIIB's potential investment could transform public transport, alleviate congestion, and spur economic growth in these cities.Read more

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Haryana Government allocates INR 1,179 crore for critical infrastructure upgrades

The Government of Haryana has allocated INR 1,179 crore from infrastructure augmentation charges to improve the infrastructure in the region. This IAC was collected by several Haryana government agencies. With a rise in population the infrastructure in the region remained unchanged since it was first developed in the 1990s. With four floor plan approval by the govt.in 2019, many property owners transformed their two-floor unit to four-floor building. However, these units were not sustainable due to lack of key infrastructure like roads, electricity and drainage systems. The new government order will impose penalties on owners who built units illegally.Read more

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MMRDA considers one-time debt settlement for Mumbai Metro Line 1

The Eknath Shinde government has shelved plans to acquire Mumbai Metro Line 1, opting instead for a one-time debt settlement. The state cabinet directed MMRDA's executive committee to settle the INR 1,700 crore debt owed by Mumbai Metro One Pvt Ltd (MMOPL), which is 74% owned by Reliance Infrastructure and 26% by MMRDA. Serving 4.6 lakh passengers daily, Metro Line 1 is Mumbai's oldest metro and operates under public-private partnership. Facing insolvency, MMOPL had agreed to a debt settlement with six lenders, including SBI and IDBI Bank. The MMRDA commissioner will meet with lenders to finalise the arrangement.Read more

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Arun Vir Singh to continue as CEO of YEIDA and NIAL, overseeing major infrastructure projects

Arun Vir Singh has been reappointed as CEO of Yamuna Expressway Industrial Development Authority (YEIDA) and Noida International Airport Ltd (NIAL) until December 31, 2024. This marks his sixth extension since retiring from the Indian Administrative Service (IAS) in June 2019. With over 37 years of experience, Singh has been pivotal in advancing key infrastructure projects in the Noida region, including the Noida International Airport, which is set to cost INR 5,700 crore and serve 12 million passengers annually. Singh also oversees the development of industrial parks and a high-speed rail project, reflecting the government's confidence in his leadership and vision for regional growth.Read more

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BMC to transforming Mahalaxmi Racecourse into a public park with Hafeez Contractor

Architect Hafeez Contractor, enlisted by the Brihanmumbai Municipal Corporation (BMC), aims to revamp Mumbai's Mahalaxmi Racecourse into a 700-acre green space. Initially proposing an elevated racetrack, Contractor finalized a 120-acre public park plan. The project includes a cycling/jogging track linking the Mumbai Coastal Road and Haji Ali via an underpass. Additionally, spiral walkway ramps will connect green spaces from Worli to Colaba, creating a contiguous green area. Contractor, who worked pro bono, aims to enhance Mumbai's greenery. The Maharashtra Cabinet approved the plan, preserving the racecourse's heritage, renewing a lease for 91 acres for Royal Western India Turf Club.Read more

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State seeks approval for Mekedatu water project and Bangalore airport air cargo complex

The Karnataka Government is pushing for Central Government approval of two key phases of the Bangalore Metro Rail project. Phase three, costing INR 15,611 crore, awaits Union Urban Development Ministry clearance, while Phase 3A, the 37 km Hebbal-Sarjapur line, estimated at INR 28,405 crore, needs final approval despite state government consent. Additionally, the government seeks approval for the Mekedatu drinking water project and the development of Bangalore International Airport into an Air Cargo Complex. Chief Minister Siddaramaiah also emphasized the need to upgrade state highways and complete various infrastructure projects to enhance connectivity and economic growth across Karnataka.Read more

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Telangana's smart cities mission extended to March 2025: Focus on completing INR 805 crore worth of projects

The Central Government has extended the Smart Cities Mission deadline to March 31, 2025, in response to Telangana Chief Minister A Revanth Reddy's request. During his visit to the national capital, Reddy met with Union Minister for Housing and Urban Affairs Manohar Lal Khattar to advocate for the extension. The extension aims to ensure the completion of ongoing projects, particularly in Warangal and Karimnagar, where significant work is underway. The Centre emphasized that no new projects will be sanctioned, and funds for existing projects will be released on a first-come, first-served basis until September. The original deadline was June 2025.Read more

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MMRDA to secure INR 850 crore from KfW for urban infrastructure development

The Mumbai Metropolitan Region Development Authority (MMRDA) has secured over INR 850 crore from the German development bank KfW and will raise an additional INR 365 crore for urban infrastructure projects. These funds will support sustainable initiatives like green corridors, waste management, and renewable energy. KfW previously approved a 545-million-euro loan for Mumbai's Metro lines 4 and 4A. This agreement marks the largest financing sanctioned to an Indian entity. MMRDA, responsible for Mumbai's infrastructure, is developing a 337 km metro network, the longest being constructed simultaneously by a single agency, aiming to improve connectivity and reduce congestion.Read more

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