CONSTRUCTION WORKS
Highway contracts stuck for a right scheme
NHAI struggles to meet expressway construction targets amid investment constraints in India's road infrastructure development.
Supernova insolvency case: NCLAT to wait for lenders' decision on settlement offer from Supertech Realtors
Insolvency appellate tribunal NCLAT on Wednesday said it will wait for the decision of lenders on a revised settlement offer by Supertech Realtors, which is developing a residential apartment, offices, retail and luxury hotels at its Supernova project. NCLAT also directed the Interim Resolution Professional (IRP) not to constitute a Committee of Creditors. However, it said the construction work for the project would be continued under the supervision of IRP.
Prices of premium residential under-construction properties continue to rise in top cities
According to Savills India, prices of premium under-construction residential properties surged up to 53% in major cities like Gurugram, Delhi, Noida, Bengaluru, and Mumbai. Gurugram led with the highest increase. North Goa also saw a 28% rise in villa prices, driven by remote work trends and high rental yields.
Are North Korean soldiers being sent to Ukraine to fight Russia’s war?
It has been reported that North Korean soldiers are being sent to Ukraine to assist the Russian forces. This is part of a recently concluded agreement between Russia and North Korea during Russian President Vladimir Putin’s visit to the hermit kingdom. The two countries are closely cooperating on matters of defense.
L&T group facing shortage of over 45,000 labourers and engineers: Chairman Subrahmanyan
The flagship engineering, procurement and construction business is grappling with a labour shortage of 25,000-30,000 labourers, while the information technology and IT-enabled services business is facing a shortage of 20,000 engineers, he told reporters here.
Noida Airport faces six-month delay, likely to be completed by next year
The Noida International Airport (NIA) completion has been delayed until at least April 2025, primarily due to slow progress on the terminal building, which faces a shortage of special-grade steel. Initially set to open earlier, this delay impacts the project's timeline significantly. Over 20% of the project remains unfinished, with the terminal's façade and waterproofing still underway. Currently, 9,000 workers are on site, completing the ATC tower and finalizing the runway. The first phase costs Rs 10,056 crore.
YSRCP district offices receive notices on legitimacy of their construction
YSRCP faces backlash over unauthorized office constructions, with the NDA government accused of bias. The controversy involves lavish buildings, including a Rs 500-crore mansion, as security scrutiny intensifies at YS Jagan Mohan Reddy's residences across multiple districts.
Under-construction bridge collapses in Bihar's Motihari, third one in less than a week
An under-construction small bridge collapsed in Ghorasahan block, East Champaran district, Bihar. No casualties. Departmental inquiry initiated. District Magistrate investigating locals' objections.
Infosys’ flexi stance helps staffers avail more remote work options
Infosys, India's second largest IT company, has embraced a flexible approach to returning to office post-pandemic. Employees leveraged remote working options in FY24, as per the ESG report. In FY24, 84% of Infosys employees worked remotely, compared to 75% in FY23 and 97% in 2022 during the pandemic.
Nisus Finance invests Rs 155 cr in affordable housing project in Surat
Nisus Finance has invested over Rs 155 crore in a late-stage affordable housing project by Dharmadev Group in Surat, Gujarat. The project is part of a larger layout on a 12-acre land parcel, comprising 4.5 million sq ft. Nisus has invested through its Real Estate Special Opportunities Fund-1 managed by Nisus BCD Advisors LLP.
BMC says not appropriate to issue stop work notice to Godrej Properties’ Kandivali project
The Municipal Corporation of Greater Mumbai (MCGM) has decided against issuing a stop work notice to Godrej Properties’ ongoing residential project in the Kandivali suburb of Mumbai as suggested by the defence ministry’s Central Ordnance Depot (COD).
Kiren Rijiju appeals to parties to work unitedly as 'Team India'; favours constructive debate in Parliament
Parliamentary Affairs Minister Kiren Rijiju has called for constructive debate in the upcoming 18th Lok Sabha session, urging cooperation from all political parties for a smooth running of the House. He believes that the government wants to run Parliament through consensus, as people have given a mandate to serve the nation. Rijiju emphasized that the higher number of opposition MPs in the 18th Lok Sabha provides an opportunity to serve the nation and that those who get the people's mandate should run the government.
Head constable hacked to death in Sukma, Chhattisgarh
A police head constable was fatally attacked by unidentified individuals in Chhattisgarh's Sukma district while he was visiting a fair in Gadiras village. The attackers used sharp-edged weapons, and the constable, Sodi Laxman, died at the scene. Authorities suspect the involvement of a small Naxalite group but are investigating all angles, including personal motives. In a separate incident in Narayanpur district, Naxalites killed a 45-year-old man, Shaluram Potai, whom they accused of being a police informer.
Power Mech Projects bags order worth Rs 563 crore to construct nuclear power plant from BHEL
Power Mech Projects announced securing a Rs 563 crore order from BHEL to build a nuclear power plant at Kaiga Atomic Power Project, marking its entry into the critical nuclear sector. The project will cover various civil, structural, and architectural works for units 5 and 6, contributing to India's sustainable energy goals.
Mumbai-based Garuda Construction and Engineering refiles DRHP for IPO
Garuda Construction and Engineering will issue shares that have a face value of Rs 5 and consist of a fresh issue of up to 18.30 million equity shares and an offer for sale of up to 9.50 million equity shares by promoter PKH Ventures.
DLF to develop Rs 25,000 crore luxury housing project in Gurugram
DLF Ltd is set to develop a luxurious housing project in Gurugram with over 400 apartments, aiming for an estimated revenue of Rs 25,000 crore. The project, spread across 17 acres in DLF Phase-5, will offer apartments ranging from 9,500 to 15,000 square feet. Featuring top-notch amenities and lush landscaping, the project targets high-end buyers. DLF plans to sell the units in phases, ensuring quality and pricing control. The company's strong financial performance reflects the robust demand for luxury housing in India.
Sachin Tendulkar resolves dispute with neighbour over noise pollution!
Dilip D'Souza, residing in the same neighborhood as the esteemed cricketer, sparked a significant buzz on social media when he disclosed that Tendulkar had stirred some commotion due to ongoing construction work at his Bandra residence. In his statement, the journalist appealed to the icon to confine construction activities to appropriate hours.
US military ships are working to build a pier for Gaza aid. It's going to cost at least USD 320 million
Sabrina Singh, Pentagon spokeswoman, told reporters the cost is a rough estimate for the project and includes the transportation of the equipment and pier sections from the United States to the coast of Gaza, as well as the construction and aid delivery operations.
Uno Minda starts construction work at alloy-wheel plant in Haryana
Auto components maker Uno Minda on Wednesday said it has commenced construction work on a passenger vehicle alloy-wheel plant in Haryana, entailing an investment of Rs 542 crore. The facility is located at IMT Kharkhoda in Haryana, and it will have a production capacity of 1.2 lakh wheels per month.
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