Page 84 - DIGITAL ISSUE MAY 2018

INFRASTRUCTURE TICKER TAPE projects were awarded prior to when the

present government took charge, 19 of 107
projects were awarded between May 2014
and August 2016. e average completion
time stipuled in the contract for any road
project is between two to three years.
In some cases, extending to four years,
depending on the length of road and nature
of the work.

GADKARI WOES KOREAN BUSINESSES
TO INVEST IN INDIA
Union Minister Nitin Gadkari has recently
urged Korean businesses to invest in India’s
roads, waterways and other infrastructure
segments. The government is planning
to 12 expressways at a cost of `1 lakh
core. India is also planning to develop
BULLET TRAIN WORK TO START FROM JAN’19 shipbuilding, sheries and the port sector
Work on the the 508 km long Mumbai- Ahmedabad bullet train is expected to begin will also create investment opportunities,
from Jan 2019. e mega project worth `1.08 lakh will be completed by 2022. e the water resources, river development
land acquisition work for this project is expected to end by December this year. Land and Ganga rejuvenation. Additionally, the
acquisition for this project has started in Mumbai. e Indian Railways will spend government is leaving no stone unturned
`10,000 crore for the complete land acquisition spanning 1,400 hectares of linear land to explore ways of greater involvement in
in Maharashtra and Gujarat. e National High Speed Rail Corporation (NHRC), which nancing projects such as inter-linking of
is in charge of train operations on high speed corridors, is the implementing agency for rivers, highway construction, developing
the mega project. logistics parks and shipbuilding in India.
e government is eyeing for a partnership
MUMBAI STATIONS TO BE REVAMPED that highway projects spanning around wherein Indian highway engineers and
Around 19 stations in Mumbai under the 1,640 km on a cumulative basis, will be bid shipbuilding engineers can be trained at
Mumbai City Traffic Project are going out under TOT beginning next month. specialised training institutions of Republic
to be transformed in the coming years. Out of the 1,640 km projects, National of Korea to expose them to the systems in
Reports suggest that the among the 19 Highways stretching around 1,000 km place there.
stations, eight stations are on the Western are to be bid out in the second and third
route, and 11 stations on the central line. tranches in May while the remaining about BENGALURU AIRPORT TO RAISE `133
e target of 2022 has been set for the 640 km is planned to be put under hammer CRORE FOR NEW TERMINAL, RUNWAY
ultra-modernization of the station. A sum in the fourth tranche likely in June or July. Bengaluru International Airport Ltd
of `880 crores will be spent for this work. e projects are scattered in nine states (BIAL), India’s third largest airport is
e plan for all stations will depend on and highway stretches in Odisha and West set to raise a sum of `133 crore for the
the arrival and departure of the passengers Bengal are being prepared to be put for construction of building a new terminal
from that station. The project has been auction in the second tranche, followed by and runway which are expected to become
undertaken by the Indian Railway Station stretches in Rajasthan, Gujarat, Tamil Nadu operational within three years. The
Development Corporation and the Mumbai and Telangana in third phase. company expects to raise funds at 0.25-
Rail Vikas Mahamandal. In addition to this,t he fourth tranche 0.50 over the MCLR (marginal cost of
projects will be from Uttar Pradesh, Bihar funds-based lending rate) with a tenure
GOVT EXPECTS EARNING `200 CRORE and Jharkhand. of about 15 years. e parent At present,
FROM 25 PROJECTS IN 9 STATES the tra c is growing at about 13 per cent
e Government is expected to earn a sum SCHEDULE LAGS IN 107 HIGHWAY year-on-year and is expected to settle down
of `200 crore from the monetisation of 25 PROJECTS; LEGACY ISSUES FOR at a steady 10-12 per cent. Reports suggest
additional National Highways stretches MAJORITY that the current terminal has a capacity of
scattered in nine states from next month. Even as the contracts for highway project 20 million passengers, whereas the current
is comes a er the successful collection awarded in the previous year rose to new tra c is about 26 million passengers. e
of `106 crore from nine highway projects. heights, the older projects are lagging new terminal will increase the capacity by
Reports suggest that Detailed project and are way behind the schedule. Reports another 25 million passengers, which will
reports (DPRs) are being formulated for suggest that there is a possibility that 107 be enough for another ve-six years. BIAL
about 25 more highway projects which will projects had or would miss the originally has invested a sum of `3,800 crore for
be auctioned in three tranches. It is learnt scheduled completion date. ough most building the airport as well as expansion.

90 CONSTRUCTION OPPORTUNITIES|MAY 2018