18 November 2019

Table of Contents for Ticker Tape -Construction

Ticker Tape: Infrastructure

About $20 trillion in infrastructure investment required across Asia by 2030


India will need about $4.5 trillion worth of infrastructure investments till 2040, with an estimated investment shortfall of over $500 billion. An infrastructure finance deficit is threatening Asia’s growth and prosperity, with an estimated $20 trillion needed in infrastructure investment by 2030 to keep pace with economic development and urbanisation. India will need about $4.5 trillion worth of infrastructure investments till 2040, with an estimated investment shortfall of over $500 billion, Colliers Research has said. Currently, the region invests only about half of that amount every year ($880 billion). This means that the infrastructure investment gap across Asia will grow to over $800 billion per year in years to come. About, 90 percent of the current infrastructure projects are financed by governments or government-linked agencies. As national, state and local governments reach their maximum spending and borrowing power, attracting private investments into infrastructure projects emerges as a top priority to address Asia’s infrastructure investment gap.




Vijay Rupani inaugurated Gujarat’s first iconic four-lane cable-stayed bridge


Gujarat’s first four-lane cable-stayed bridge was thrown open for the people of the diamond city. Gujarat chief minister Vijay Rupani inaugurated the cable-stayed bridge. The bridge was ready in August, but the Surat Municipal Corporation (SMC) delayed the inauguration waiting for Prime Minister Narendra Modi for the inauguration of the bridge. It was Modi who had laid the foundation stone of the cable-stayed bridge when he was the Chief Minister of Gujarat. The construction of Rs 143 crore cable-stayed bridge was started in 2010 and it took eight years for completion. The delay was caused due to the collapse of the curved portion of the fly-over connecting cable-stayed bridge at Athwalines, which had killed 10 construction labourers on June 10, 2014.




Rs 2500 crore terminal to come up at Chennai airport


A new terminal with a parking bay for aircraft and a multi-level car parking facility would be set up at a cost of Rs 2,500 crore under phase II of the Chennai airport modernisation programme, an AAI official said. The new terminal, coming up under the Phase II modernisation programme, would be able to handle the increase in arrivals and departures, he said. Asked how funding for the modernisation programme would be done, AAI, Member (Finance) S Suresh said 60 per cent would be from borrowings and 40 per cent through internal resources. "With regard to the borrowings, AAI will study the market before deciding whether to go for project loans or for an issue through domestic bonds," he said. Suresh pointed out that the union government had last week approved  Rs 9,430 crore to be taken as loan in the next five years, for modernisation of airports. "For this fiscal, they have sanctioned  Rs 1,500 crore", he said. To another query, Chandramouli said, demolition of the existing domestic terminal has been completed to an extent. "Larsen and Toubro have started excavation work. Site preparation has started. Getting approval from the State Pollution Control Board is in final stages", he said.




Cabinet approves two metro rail projects in M.P.


The Union Cabinet on Wednesday gave its nod for two metro rail projects in Madhya Pradesh — one each in Bhopal and Indore. Both the projects will be completed in four years, Ravi Shankar Prasad, Union Law Minister, said. The Cabinet has approved a proposal to make Indian Railway Station Development Corporation Ltd (IRSDC) the nodal agency to ensure coordinated development of railway stations. The IRSDC will decide whether stations should be bunched for development, and if so how they can be bunched. Also, IRSDC can extend lease period up to 99 years, and will decide the lease period for each project, Ravi Shankar Prasad said. The Cabinet has also approved, in partial modification of the earlier decision taken on May 16, the establishment of National Institute of Mental Health Rehabilitation(NIMHR) in Sehore District (Bhopal-Sehore highway) instead of Bhopal in Madhya Pradesh.




IRB Infra secures funding for two HAM projects


Highways developer IRB Infrastructure has achieved financial closure for two of its hybrid annuity model (HAM) projects. IRB PP Project Pvt Ltd, a special purpose vehicle (SPV), has secured funds for its Rs 1,319-crore project to four-lane the 38-km Puducherry-Poondiyankuppam stretch of NH-32 (previously NH-45A). Another SPV, IRB PS Highway Pvt Ltd, has achieved closure for a Rs 2,200-crore project to four-lane the 56.8-km section between Poondiyankuppam and Sattanathapuram on NH-32. Both projects will be partly financed by the National Highways Authority of India (NHAI) and the developer. NHAI will provide financial support of Rs 159 crore and Rs 909 crore for the first and second projects respectively while IRB will infuse up to Rs 425 crore in both. The remaining financing of Rs 617 crore and Rs 1,209 crore respectively will come from lenders. The portfolio of projects includes seven BOT projects, three HAM projects and four projects under tolling and construction. Another two projects are under advanced stages of construction.




GMR Infra emerges highest bidder for Nagpur Airport privatisation


GMR Airports, a subsidiary of G M Rao-led GMR Infrastructure has emerged as the highest bidder for the development, operations and management of Nagpur’s Babasaheb Ambedkar International Airport on a public-private partnership (PPP) basis. MIHAN India, a joint venture between Maharashtra Airport Development Company (a Government of Maharashtra undertaking) and Airport Authority of India, had in March 2018 sought requests for proposal to privatise the Nagpur airport. The project involves upgrade, modernisation, operation and maintenance of the Nagpur airport for a period of 30 years and includes the construction of a new terminal among other things. Bids had been received from two bidders — GMR Airports and GVK. The former, which submitted the highest revenue-share bid, is expecting the letter of award shortly.




Cochin International Airport wins UN’s environment award


Cochin International Airport makes India proud! India’s airports have been bagging awards internationally, and the latest to join the list is Kerala’s Cochin International Airport. It’s a proud moment for the country as the International Airport of Cochin has been awarded for Entrepreneurial Vision, for its leadership in the use of sustainable energy by the UN. Cochin international airport is the world’s first fully solar-powered airport. According to United Nations Environment Programme (UNEP), Cochin International Airport is showing rest of the world that the ever-expanding network of global movement does not have to harm the environment. UNEP further stated that the first fully solar-powered airport of the world is proof positive that green business is good business. The Champions of the Earth award is the highest environmental recognition of United Nations, celebrating exceptional figures from the public sectors as well as private sectors and also from civil society, whose actions have had a positive impact on the environment.




ADB clears $150 mn loan for Madhya Pradesh’s first multi-skills park setup


Multilateral lender ADB will provide $150 million loan for establishing the first multi-skills park in central Indian state of Madhya Pradesh. The board of directors of the Asian Development Bank (ADB) has approved a $150 million loan to establish the first multi-skills park in India, it said in a release Thursday. The skills park is to be equipped with international training facilities to enhance the quality of Madhya Pradesh’s technical and vocational education and training (TVET) system. It will create a more skilled workforce that meets the labour market needs of the state, ADB said. This new flagship Global Skills Park (GSP) campus will be established in state capital Bhopal from where about 20,000 people are expected to be benefited. The Madhya Pradesh Skills Development Project will also help in modernising 10 industrial training institutes across the state by renovating training infrastructure and upgrading skills courses to align with industry and market needs.




Breakthrough in Mumbai Metro-3 corridor work


A breakthrough was achieved by a tunnel boring machine on the line three of Mumbai metro in the last week of September. The breakthrough happened near the T2 terminal of the Mumbai airport. In civil engineering parlance, a breakthrough is defined when a tunnel boring machine(TBM) when lowered in a particular shafts manages to bore through the defined geological route and emerges successfully at a designated end. Mumbai Metro Rail Corporation believes that the line with 26 underground stations will be operational by 2021. Wainganga 1, the TBM was commissioned on 8 January 2018 from Pali ground at Marol and it has completed its tunnel drive of 1.26-km has emerged T2 terminus. It marks an milestone in the construction of the 33.5-km long Metro-3 corridor. The tunnelling work for the full line will be completed in the next 18 months. Till date, 9 km of tunnels have been created. Out of 26 underground stations, work on 25 stations, excluding Kalbadevi, is under way. For Kalbadevi station, about 60 per cent land has been acquired. Mumbai Metro Rail Corporation believes that the line with 26 underground stations will be operational by 2021




Unveil the first phase of grounding in Package 7 of Metro 3


The first phase of Mumbai's 33.5 km stretch of the metro Colaba-Bandra-Seepz metro 3 was inaugurated in the presence of Chief Minister Devendra Fadnavis. This unveiling ceremony was held at Chhatrapati Shivaji Maharaj International Airport - Terminal 2. Due to continuous efforts of 250 engineers, technicians and skilled workers, the 126 km of Bhubaneswar of Mumbai Metro 3 package 7 will be completed today. Wainganga 1's tunnel boring machine has set a history by successfully completing this gap within 259 days. The Mumbai Metro 3 package will connect the Swastik Samarth Nagar-Jogeshwari-Kanjur Marg-Vikhroli Metro 6 at Versova-Andheri-Ghatkopar Metro 1 and JVLR at 7 Marol Naka. Also, the important industrial and employment centers like MIDC, Seepz, which are not connected by the Mumbai Suburban Railway Service. The Mumbai Metro Rail Corporation has reached the stage of success with facing many challenges. About 9 km of the complete project of Mumbai Metro Rail Corporation has been completed and 19,40,254 quintals of soil has been excavated. Package 7 is being jointly shared by L & T and Shanghai Engineering Company. This phase of acquisition of package 7 is 7.07km and out of this, the total quantity of 11 lakh quintals of soil will be extracted. She will be thrown into the grassroots set in the frozen grass. So far, 2.5 lakh quintals of soil has been excavated.




Hyderabad Metro rail adds 16 km stretch to operations


L&T Metro Rail (Hyderabad), which is setting up India’s second-largest metro rail project and world’s largest metro rail project under public-private-partnership (PPP) model, on Monday added 16 kilometres of the stretch to operations, taking the total stretch under operations to 46 km. The elevated metro rail project of 72 km crisscrossing Hyderabad in three corridors involves over `20,000 crore of cost after it suffered time and cost overruns before and after the formation of Telangana state from Rs 16,375 crore estimated earlier. L&T, which had signed the concession agreement for the metro rail project in September 2010, was to complete all the three corridors by July 2017. With the latest stretch between Ameerpet and LB Nagar commencing operationsMonday, the Hyderabad metro rail project has fully completed the 29-km corridor between Miyapur an LB Nagar. While the corridor between Nagole and Raidurg is completed halfway till Ameerpet to commence operations, the other corridor between Jubilee Bus Station and Falaknuma is running many months behind the schedule.




Government plans waterway freight corridor via Bangladesh to northeastern states


The government is working on a plan to set up a waterway freight corridor to connect the mainland with the northeastern states via Bangladesh at a cost of Rs 5,000 crore. The move would substantially reduce the time taken to transport goods to the eight northeastern states and costs. The proposed 900-km waterway would be used to transport freight from the northern and eastern states to the northeast and would start near Haldia in West Bengal, go to the Sundarbans, merge into the Padma river in Bangladesh and then join up with the Brahmaputra in Assam. The government is already developing a waterway along the Ganga river between Haldia and Allahabad (1,620 km) at a cost of Rs 4,500 crore. This link will also be utilised for trade between India and Bangladesh.


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