AP approves ₹7,741 cr funds for capital region
Andhra Pradesh has set aside a sum of ₹7,741 crore for the execution of capital city development works to be carried out by the Capital Region Development Authority (CRDA) and the Municipal Administration and Urban Development (MA and UD) wings. Of the targeted outlay, CRDA‘s share is around ₹1,000 crore, said sources.
Gujarat infuses ₹800 cr in infra projects
The Gujarat government has cleared ₹592 crore for the Ahmedabad Metro project and over ₹200 crore for various other projects, Deputy CM Nitin Patel said. The Metro rail project would help in mitigating the increasing traffic problems and strengthening urban transport system in Ahmedabad.
AIIB approves $1.5-bn for Indian infra sector
The Asian Infrastructure Investment Bank (AIIB) has approved $1.5 billion funds for infrastructure and construction projects in India, AIIB's chief investment officer, D. J. Pandian said.
B L Kashyap bags new projects of ₹605 crore
B L Kashyap & Sons Limited, has bagged new projects of approx. ₹605 crore. The projects will be carried out in Bangalore, Chennai, and Noida, which is expected to be complete in 24 months from the date of award. The total built-up area of overall projects is about 35 lakhs sq.ft.
WB unveils $5-bn infra investment plans
The World Bank has decided to lend $5 billion fund to India in the next half decade, Country Head, Junaid Ahmad said in an official statement. The multilateral global lending body will release about $1 billion every year for the next five years from the current $3 billion to $3.5 billion.
L&T wins flurry of construction contracts
Close on the heels of securing contracts of ₹25.97 billion across business segments, L&T has secured 8.7 Km long Dwarka Expressway in Haryana, said an official spokesperson, informing that the mega project will be constructed on EPC model.
Bangalore gets ₹2,266 cr infra projects
Four construction projects have been cleared for Bangalore under the Smart City mission for which foundation stones have been laid. The projects involved ₹2,266.65 crore investments. The targeted projects, among others, include the construction of a bus terminal at Pumpwell at a cost of ₹400 crore, multilevel car parking facility at Hampankatta at ₹98 crore, reconstructing central market building at Hampankatta at an investment of ₹50 crore, and a command-control centre at Lal Bagh costing ₹49 crore.
L&T wins ₹1,266 cr construction contracts
Larsen & Toubro has in the first case secured ₹928 cr contract from a government agency to construct 13,314 flats under the Prime Minister Awas Yojana Scheme. In addition to this, the company also received a ₹338 crore contract from Mumbai Metro Rail Corporation, which involves the design and construction of the traction & power supply works for Mumbai Metro Line 3 that goes from Colaba to SEEPZ via Bandra.
Bundelkhand bags ₹20,000 cr industrial corridor
Shortly after the announcement of a slew of projects by industrialists, including Mukesh Ambani, Kumara Mangalam Birla and Gautam Adani, signing investment pacts worth ₹4.28 lakh crore in the first day of the two-day investors’ Lucknow, summit in Uttar Pradesh, the Prime Minister announced the setting up of a defence production industrial corridor entailing an investment of ₹20,000 crore in the Bundelkhand belt of the state. The corridor would link Agra, Aligarh, Jhansi and Chitrakoot belts thereby, ushering in a new era of development in the state.
ADB clears $84-mn infra funds for Bihar
Under multi-tranche financing facility (MFF) for Bihar’s urban development investment program approved by Asian Development Bank (ADB) to provide sustainable urban infrastructure and services in four towns of Bhagalpur, Gaya, Darbhanga, and Muzaffarpur, the Centre and the ADB have signed a $84 million loan agreement.
NCC secures ₹2,980 cr infra contracts
The National Construction Company (NCC) has received seven new orders for a sum of ₹2,980 crore. Of the seven orders, three totaling to ₹1,967 crore, pertain to water infrastructure and environment divisions, two of about ₹306 crore, are in the road and highway division, and two of ₹707 crore relate to the construction sector.