Tag: Infrastructure

UP Govt releases Rs 66 cr for Ganga Canal road

29/06/2016 09:47

Uttar Pradesh Government has said that it has released Rs 66 crore for the expansion of the Ganga Canal road to double lane.

Commenting on the issue, the executive engineer of PWD Department Dharam Prakash told the media that the 108 km-long Ganga canal road would be expanded to double lane fom the existing single lane.

He said funds to the tune of Rs 165 crore had been sanctioned for the project. The road connects Uttarakhand and Muradnagar in the state.

As per reports, this project, which would be competed in 2017, would facilitate easy passage of the ‘Kawad’ pilgrims and reduce the traffic burden on Delhi-Haridwar National Highway. Construction work on the project has been started.

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PM to launch smart city projects on June 25

PM to launch smart city projects on June 25

24/06/2016 09:34

The Prime Minister Narendra Modi will launch Smart City projects on Saturday i.e June 25,2016 kick starting execution of Smart City Plans of 20 cities selected in the first round of ‘Smart City Challenge Competition’.

This marks the beginning of holistic and integrated urban development in the country as envisaged under the new urban missions launched by the government.

Prime Minister will launch 14 projects under the smart city plan of Pune from the city’s 5,000 capacity Shiv Chatrapati Sports Complex at a programme to be presided over by the Minister of Urban Development M.Venkaiah Naidu. Another 69 such projects will be launched the same day in the other Smart Cities entailing a total investment of about Rs.1,770 cr.

The projects to be launched in Pune and other cities include Solid Waste Management projects under Swachh Bharat Mission, Water Supply Projects, Sewage Treatment Plants and development of open and green spaces under Atal Mission for Rejuvenation and Urban Transformation (AMRUT), Housing Projects for urban poor under Pradhan Mantri Awas Yojana and area development and technology based Pan-city Solutions under Smart Cities Mission realizing the objective of convergence in implementation of new urban missions.

Saturday’s launch also marks the beginning of implementation of urban development plans based on five year action plans formulated after detailed analysis of infrastructure gaps in over 500 cities included in Smart City Mission and AMRUT, accounting for about 70 per cent of country’s urban population. This brings to an end the ad hoc and project based approach to urban development followed so far.

Modi will also inaugurate ‘Make Your City SMART’ contest aimed at involving citizens in designing roads, junctions, parks etc. Suggestions and designs suggested by the citizens will be duly incorporated by respective smart cities. Winners of this contest will be given rewards in the range of Rs.10,000 to Rs.1,00,000. This is aimed at continuing citizen participation in the planning under which about 1.50 crore citizens participated in the formulation of Smart City Plans to making of smart cities.

Smart Net Portal also will be inaugurated by the Prime Minister which enables the cities under different urban missions to share ideas and source solutions for various issues during the implementation of various missions.

All the first batch of 20 smart cities will be linked through video-conferencing on the occasion of launch of projects by the Prime Minister. These 20 cities have proposed a total investment of Rs.48,000 cr in area development and Pan-city solutions.

IVRCL allots 6.46 lakh shares to Bank of Nova Scotia

IVRCL allots 6.46 lakh shares to Bank of Nova Scotia

14/06/2016 10:55

Infrastructure firm IVRCL Ltd said that it has allotted 6.46 lakh equity shares to the Bank of Nova Scotia as part of Strategic Debt Restructuring (SDR).

“Pursuant to provisions of Companies Act, 2013 and Sebi (Issue of Capital Disclosure Requirement) Regulations, 2009 and implementation of SDR, the company has made an allotment of 6,46,810 equity shares at a price of Rs 8.765 each, to Bank of Nova Scotia,” it said in a regulatory filing.

In December last year, the debt-ridden firm said that its lenders have invoked SDR in the company.

Strategic debt conversion option gives lenders the right to convert their outstanding loans into a majority equity stake if the borrower fails to meet conditions stipulated under the restructuring package and take control of the company operations.

The Hyderabad-based construction and infrastructure company is passing through one of its toughest business cycles over the past 12 quarters. The company has initiated a number of measures to streamline its business while restructuring its functioning.

Meanwhile, shares of the company were trading at Rs 5.16, up 6.83 per cent from the previous close at 10:56 hours on BSE.

Railways to invest $140 bn on infra in 5 yrs: Min

Railways to invest $140 bn on infra in 5 yrs: Min

10/06/2016 10:38

Indian Railways has said that it will invest USD 140 billion over the next five years in infrastructure and improving the mobility of its services.

Commenting on the issue, Rail minister Suresh Prabhu told the media, “Indian Railways will invest USD 140 billion in the next five years. We have invested Rs 94,000 crore and additionally we have decided to issue contract of Rs 40,000 crore for locomotives.” “The country needs to invest 10-11 percent of GDP in infrastructure in order to give a fillip to economic growth. Our focus has been on infrastructure and among various sectors in infrastructure transportation is the prominent one,” he added.

The minister further added that the Indian Railways was working on a “mobility directory” to bring in all the elements of infrastructure to increase the average speed of travel,” he added.

Solar power tariff at new low, drops to Rs 4.34 a unit

20/01/2016 09:30

The solar power tariff fell to an all-time low, with Finland-based energy firm Fortum Finnsurya Energy quoting Rs 4.34 a unit to bag the mandate to set up a 70-mw solar plant under NTPC’s Bhadla Solar Park tender, said an official statement.

“Solar tariffs have fallen to an unprecedented low of Rs. 4.34 / kWh through reverse auction for one of six projects of 70 MW each to be put up in Rajasthan under the National Solar Mission,” Ministry of New and Renewable Energy said in a statement.

NTPC on Monday conducted the reverse bidding for 420 MW solar power projects to be set up in the Bhadla Solar Park-II, near Jodhpur in Rajasthan.

The thermal power generator will procure and bundle solar power from these parks with coal-based power generated from its older plants to keep the resultant tariff low.

Fortum Finnsurya Energy bagged 70 MW at the lowest tariff of Rs 4.34/unit. Rising Sun Energy and Solairedirect Energy India managed to grab 140 MW each at Rs 4.35/unit. Yarrow Infrastruture, a subsidiary of RattanIndia Solar, won the remaining 70 MW on offer at Rs 4.36/unit.

NCRPB to support transport infra projects worth Rs 7,838 cr in UP, Haryana

20/01/2016 08:50

In a major decision, the National Capital Region Planning Board (NCRPB) on Tuesday decided to support 9 transport infrastructure projects in Uttar Pradesh and Haryana that will substantially improve traffic flow besides reducing pollution benefitting Delhi and adjoining areas.

“The project sanctioning & monitoring group of NCRPB chaired by Madhusudhan Prasad, Secretary, Ministry of Urban Development today discussed these projects costing Rs.7,838 cr and decided to support them with a total loan assistance of Rs.3,113 cr,” Ministry of Urban Development said in a statement.

According to B.K.Tripathy, Member-Secretary, NCRPB, this was the highest loan assistance approved in a single meeting of the Board.

Two infrastructure projects in Uttar Pradesh will cost Rs.6,681 cr for which NCRPB will provide a loan of Rs.2,287 cr. Haryana has proposed projects 7 projects at a total cost of Rs.1,157 cr and will get a loan of Rs.726 cr.