HIGHWAYS INFRASTRUCTURE
Nitin Gadkari to hold meet on stalled highway projects
Road Transport and Highways Minister Nitin Gadkari is set to convene a comprehensive review meeting with top officials from various ministries and contractors this month to address the high number of stalled highway projects. The primary objective is to resolve inter-ministerial issues and expedite project implementation. These efforts aim to curb escalating costs and time overruns by establishing new milestones, revising cost estimates, and outlining updated commissioning schedules for affected projects.
Union Budget: These infra measures will give a roadmap for the infrastructure for the next five years
UNION BUDGET 2024: Finance Minister Nirmala Sitharaman 8in the Interim Budget 2024-25 outlined India's focus on infrastructure, with ₹11.1 lakh crore allocated for capital investment, up 11% from the previous year. Despite fiscal challenges, the budget emphasizes project completion, private sector participation via incentives, and sustainable infrastructure development. Key areas include digital infrastructure, tourism, water management, and safety improvements in transportation sectors.
Relief in sight for Bengaluru's traffic nightmare with greenfield corridor set for ahead of schedule December launch
Union Minister Nitin Gadkari announced the inauguration of the STRR and Greenfield Corridor in Bengaluru. The Rs 17,000 crore STRR, started in 2022, will ease traffic and connect areas. The Rs 17,930 crore Greenfield Corridor, to be inaugurated by PM Modi, will cut travel time. Karnataka has received Rs 3.5 lakh crore for road work in a decade. Gadkari, at the Karnataka BJP special state executive meeting, expressed concerns about environmental clearances and urged the state to expedite approvals for Rs 2 lakh crore road projects.
Highway contracts stuck for a right scheme
NHAI struggles to meet expressway construction targets amid investment constraints in India's road infrastructure development.
Infra cos step up hiring betting on govt focus on sector
India's infrastructure sector is hiring millions in unskilled, semi-skilled, and skilled labor segments, with expectations that the new government will continue investing in infrastructure development, including highways, roads, and airports. An estimated 9.8 million jobs are expected to be created in FY25, driven by strategic investments and ambitious plans for transportation and logistics development.
Defence stocks have done it, will the infrastructure sector follow suit? 6 stocks of the highway makers
There are four sectors, Railways, Defence, Infrastructure and PSU as a set of stocks where election results were important due to the fact that policy continuity was seen as major tailwinds. Because the results were not exactly the way the street had expected, there was a sharp reaction in all these stocks after the election results. But within ten days, the majority of the defence stocks are already higher than what they were quoting on the day of elections. The question is whether other sectors also will see a catch up or not. Now there cannot be any doubt that political noise levels are going to remain high and that might create uncertainty at times. It might take a while for some of the sectors to get the momentum back on the street but probability of getting back on track is high as and when the street gets an indication that it is work as usual in the sector.
Nitin Gadkari takes charge as Minister of Road Transport and Highways
Senior BJP leader Nitin Gadkari assumed office as Minister of Road Transport and Highways, expressing gratitude to Prime Minister Modi for reassigning him in Modi's third term. Known as the "Highway Man of India," Gadkari has overseen the construction of over 54,858 km of national highways in the past decade.
Nitin Gadkari- a go-getter and man behind India's mega push to road infrastructure
Senior BJP leader Nitin Gadkari, known as the 'Highway Man of India', has been instrumental in the construction of national highways and new roads, serving as the Minister for Road Transport & Highways in the last two governments led by Narendra Modi.
India to increase road toll charges from Monday
India will hike road toll charges across the country by 3-5% from Monday, officials said, after putting the annual increase on hold in April due to the country's general elections. Toll charges in India are revised annually in line with inflation, and highway operators have announced hikes of 3% to 5% at nearly 1,100 toll plazas starting Monday.
India's infrastructure leap under PM Modi: Former NITI Aayog CEO Kant highlights nation's capex drive
Amitabh Kant highlighted India's infra advancements over the past nine years, noting a tripling of cities with metro coverage, 92,000 km of new highways, and a 100% increase in airports and port handling capacity. Additionally, India has electrified 40,000 km of railway lines, built 120 million toilets and 50 million homes, and provided piped water to 250 million people, achieving 100% household electrification.
Infrastructure cost overruns hit a 12-month high
Cost overruns and delays continued to afflict central government projects in April with experts citing the general election as a key reason for the current slowdown in infrastructure activity. The ratio of cost overruns in central government projects hit a 12-month high of 20.09% in April, rising from 18.65% in the previous month, government data showed on Tuesday.
Cost overruns in central government projects rise to a 12-month high in April
The Indian government's cost overruns in central government projects reached a 12-month high of 20.09% in April, with 1,838 projects with a value of Rs 150 crore and above costing Rs 33.2 lakh crore. The average time for project completion dipped to 35.4 months from 36.04 in March, with 48% of projects delayed for over two years. The government's focus on infrastructure is expected to continue as a growth driver in the coming year.
Road Ministry against hike in project lending rates, bats for status quo
"RBI, as a regulator, will have to create that balance to ensure financial viability of road projects does not take a hit," an official said. The central bank earlier this month proposed tighter norms, requiring lenders to allocate 5% of the project loan amount as general provisions during the construction phase, up from 0.4% provisions now.
NHAI's road assets monetisation can fetch up to Rs 60,000 cr for govt this fiscal
ICRA predicts NHAI's road asset monetization plan could yield up to Rs 60,000 crore in FY2025, part of the National Monetisation Pipeline. NHAI plans to sell 33 assets through toll-operate-transfer (TOT) and InvIT modes, totaling 2,750 km with Rs 4,931 crore annual toll collection, likely attracting various investor types.
From highways to 1.25 lakh start-ups: PM Modi compares achievements under BJP rule with Congress-era
Drawing attention to various sectors, PM Modi provided a comparative analysis to underscore the progress made during his tenure. He focused on infrastructure development, education, healthcare, and improvements in basic amenities, showcasing the advancements made under his administration.
NHAI receives 164 insurance surety bonds as guarantee for road projects
In a workshop organized on Wednesday on the implementation of insurance surety bonds (ISB) for NHAI contracts, NHAI said out of the 164 ISBs received, 20 bonds are for performance security and 144 bonds are for bid security. It is estimated that around 700 insurance surety bonds valued at around Rs 3,000 crore have been issued by different insurance companies so far.
BRO achieves milestone, breaks through 2.79-km Sungal tunnel along Jammu-Poonch highway
The Border Roads Organisation achieved a milestone by breaking through the 2.79-km Sungal tunnel on the Jammu-Poonch national highway, advancing crucial projects for defense infrastructure and socio-economic progress.
Tesla's EV charging team layoffs threaten to slow Biden's program to electrify highways
Elon Musk's Tesla charging team changes jeopardize fast-charging station deployment, influencing Biden's U.S. highway electrification. NEVI program, with $5 billion funding, encounters delays. Various key players like EVgo and ChargePoint brace for potential opportunities amidst Tesla's alterations.
NHAI spends record ₹2.07 lakh cr in 2023-24, builds 6,644 km of roads
The National Highways Authority of India (NHAI) spent a record ₹2,07,000 crore on national highway construction in 2023-24, marking a 20% increase from previous years. The construction of highways reached 6,644 km, a 53% increase from the previous year. NHAI's monetization receipts reached ₹40,314 crore in FY 2023-24, 70% higher than the previous year.
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