Islamic Bank fixes Indian infra sector on radar
One of the largest lenders to Muslim countries, Islamic Development Bank Group, is increasingly interested in exploring tie ups and joint ventures with other multilateral development banks to invest in India’s infrastructure sector in a big way, said President Bandar M.H. Hajjar, reiterating that the development is significant given India’s infrastructure requirements and the need to access capital at competitive rates.
OMBADC approves 8 projects worth ₹2,800 cr
The Odisha Mineral Bearing Areas Development Corporation (OMBADC) recently approved eight new projects entailing a whopping investment of ₹2,800 crore in nine mineral bearing districts of the state, official sources said, elaborating that the projects will be implemented in nine mineral bearing districts - Angul, Dhenkanal, Jajpur, Jharsuguda, Keonjhar, Koraput, Mayurbhanj, Rayagada and Sundargarh.
PM launches ₹2,100 cr urban infra projects
The PM recently laid the foundation stone of urban infra projects in Rajasthan at an investment worth ₹2,100 crore. The projects, among others, included a 2.7 km long Elevated Road Project in Ajmer at an investment of ₹537 crore. They also included upgrading of STPs in Dholpur, Nagaur, Alwar, and Jodhpur and other areas at a cost ₹122 crore, ₹370 crore, ₹68 crore, ₹281 crore, and ₹33 crore, respectively.
Telangana takes up ₹55,000 cr infra projects
The state government in Telangana has targeted to invest a staggering sum worth ₹55,000 crore on developmental programs especially in the capital city of Hyderabad, said official sources, elaborating that the program will also cover other cities and towns in the next three years. The government plans to spend a whopping ₹45,000 crore on Hyderabad alone at the rate of ₹15,000 crore per annum in three years.
Govt. targets $4.5 trillion infra investment
According to the finance minister Arun Jaitley, India needs a whopping investment of $4.5 trillion in the country’s infrastructure sector in the next one decade and generating the staggering sum will be a challenge, but the required finance will not be "deterrence" for the country. He said this at a panel of governors at the Asian Infrastructure Investment Bank's (AIIB) two-day annual summit in Delhi.
World Bank pushes ₹1,000 cr in water infra
Injecting a major booster to the water transport infrastructure of the north eastern region, the World Bank has recently initiated a process of financing projects to modernize inland water transport in Assam. In this connection, state transport minister Chandra Mohan Patowary recently held a meeting with representatives from the World Bank.
Govt plans to sell vibrant infra projects
The Union government is considering selling successfully running public sector infrastructure projects in power and steel segment covering NTPC and Steel Authority of India and BHEL among others to private players. In this connection, a proposal is being worked out to monetize commercially viable assets operated and held by state-owned companies, said sources.
Govt readies 102 mine blocks for auctioning
As many as 102 mineral blocks are being readied by different states to be put up for the next round of mining auction as the move aims at speeding up auction of existing blocks and accelerate exploration of potential blocks across the country, Mines & Minerals, Minister Narendra Singh Tomar said that out of the 43 blocks auctioned so far, eleven blocks have started production.