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

Assam CM set to inaugurate India’s biggest PMAY colony in Dibrugarh

Assam's Chief Minister Himanta Biswa Sarma is set to inaugurate the country's largest Pradhan Mantri Awas Yojana (PMAY) colony in Naharkatia, Dibrugarh district, featuring 113 housing units with comprehensive amenities at an estimated cost of Rs 4 crore. The integrated settlement, situated near the Assam-Arunachal border, emphasises sustainable living, including provisions for animal rearing, poultry, and beekeeping. Additionally, Naharkatia MLA Taranga Gogoi envisions transforming the banks of the Burhi Dihing river into a thriving tourist destination, with plans for eco-friendly resorts, adventure sports facilities, and collaborations with private investors to enhance the area's tourism potential.Read more

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Mumbai's coastal land in Malad set for extensive development by MMRDA

The Mumbai Metropolitan Region Development Authority (MMRDA) has been assigned 1,387 hectares of prime coastal land for development in Malad, Mumbai. The decision, made in a meeting chaired by Maharashtra CM Eknath Shinde and DCM Devendra Fadnavis, aims to capitalize on the area's commercial potential with connectivity through Metro 2A and the proposed Coastal road. The Development Plan 2034 had initially earmarked the land for affordable housing, open spaces, IT, and tourism. However, activists and residents express concerns about environmental impact, advocating for preserving the coastal area's natural beauty.Read more

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Cost overruns and delays plague India's mega infrastructure initiatives

The Ministry of Statistics and Programme Implementation (MoSPI) recently reported that as of November 2023, 421 major Indian infrastructure projects, each exceeding Rs 150 crore, faced cost overruns amounting to Rs 4.40 lakh crore. Monitored among 1,831 projects, these overruns represent nearly 17.54% of the initial cost. Despite spending Rs 15,58,038.07 crore, equivalent to 52.80% of the expected costs, delays persist in 845 projects, averaging 36.64 months. Issues such as land acquisition, environmental clearances, and insufficient infrastructure support contribute to setbacks, compounded by factors like project financing delays and pandemic-related disruptions. These challenges underscore the urgent need for comprehensive reforms and effective project management strategies to address the persistent hurdles in India's infrastructure development landscape.Read more

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Thane Municipal Commissioner takes strong measures against unauthorized constructions

The Municipal Commissioner of Thane, Abhijit Bangar, has issued a "zero tolerance" directive against unauthorized construction in the city. Following the suspension of a senior official accused of protecting illegal structures, Bangar emphasized strict measures and consequences for those associated with such activities. Officials were instructed to comply with the Chief Minister's directive to demolish illegal structures, with a focus on cutting water connections to these constructions. Disciplinary actions were warned for officials involved in permitting illegal constructions, particularly those with water connections.Read more

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CMDA unveils visionary plan for five-fold metropolitan expansion in Chennai

The Chennai Metropolitan Development Authority (CMDA) is undertaking a significant five-fold expansion, encompassing areas like Gummidipoondi and Kancheepuram. The CMDA aims to develop self-sustaining neighbourhoods, floating tenders for a comprehensive 'Sustainable Economic Growth Strategic Plan in Chennai Metropolitan Area.' The 24-week study will identify locations for industries, recreational spaces, and transit corridors, with a focus on decongesting the core city. Satellite towns are in the pipeline, addressing concerns like relocating the automobile hub in Pudupet. Experts stress eco-friendly urbanization, flood-resilient structures, and efficient spatial planning for balanced growth, acknowledging the potential for increased job opportunities.Read more

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Nagpur's MIHAN-SEZ asks DLF return allotted land over failure to execute plans

Nagpur's MIHAN-SEZ has requested DLF and other companies, to return over 140 acres allotted in 2007 for an IT Park, citing the company's failure to initiate construction over 15 years. DLF was expected to develop IT towers, generating employment for 1 lakh people, but no progress has been made. Notices have been issued, urging DLF to submit a development plan. MIHAN, spanning 4,300 hectares, aimed for an IT boom, but competition from other cities hindered progress. SEZ authorities reveal 20% occupancy, 68% vacant land, and inactive units. MADC leased land to major IT companies, emphasizing the need for strategic development in Nagpur.Read more

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Union Minister Nitin Gadkari to inaugurate Zuari Bridge section and unveil key projects in Goa

Union Minister Nitin Gadkari is set to inaugurate the second four-lane section of the Zuari bridge in Goa, along with laying the foundation stone for two major projects valued at Rs 911 crore. These include twin towers atop the new bridge and an elevated six-lane highway corridor at Porvorim. Chief Minister Pramod Sawant announced the opening of the 14km approach road and the new Zuari bridge section, costing Rs 2,500 crore, on Goa Liberation Day. Other initiatives include a revolving restaurant on the Zuari tower and a six-lane elevated corridor on NH-66. Sawant highlighted the state's commitment to environmental sustainability and outlined Goa's impressive economic growth. The government aims for zero carbon emissions by 2050 and encourages comprehensive development for continued progress.Read more

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India unveils ambitious Rs 19.5 lakh crore National Highway Development Program

The Indian road transport ministry has proposed a National Highway Development Programme, aiming to build and widen approximately 41,000 km of national highways, including 15,000 km of high-speed corridors, by 2031-32. This ambitious plan requires an investment of Rs 19.5 lakh crore. The proposed master plan's first phase projects are set to be bid out by 2028-29, with completion slated for 2031-32. The initiative aims to almost double the average travel speed on national highways from 47 kmph to 85 kmph, enhancing logistics efficiency and reducing costs to 9-10% of GDP. Currently, logistics costs in India are around 18% of GDP.Read more

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MMRDA seeks approval for major development in Raigad district

The Mumbai Metropolitan Region Development Authority (MMRDA) has submitted a proposal to the state government, seeking permission to develop a sprawling 323.44 square kilometres of land in Raigad district. The proposed development, under the New Town Development Authority (NTDA), mirrors the successful model of Bandra Kurla Complex. The initiative aims to meet rising demand post the Mumbai Trans Harbour Link (MTHL) and Navi Mumbai International Airport, generating revenue amid diminishing land in BKC. The involvement of NTDA marks a strategic expansion, offering new opportunities and income for MMRDA's infrastructure projects.Read more

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NHAI grants toll-operate-transfer contracts worth Rs 9,384 crore for bundles 13-14

The National Highways Authority of India (NHAI) has achieved a significant milestone by successfully awarding Toll, Operate, and Transfer (TOT) bundles 13 and 14, covering a combined stretch of 273 km, for Rs 9,384 crores. This accomplishment brings the total TOT bundles awarded in the current fiscal year to an impressive Rs 15,968 crore, surpassing the fiscal monetization target of Rs 10,000 crores set for 2023-24. The Ministry of Road Transport and Highways highlights that the TOT model, fostering private participation in the highway sector, continues to play a pivotal role in advancing the nation's road network development.Read more

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