Saturday, January 16, 2021


Kerala seeks infra investments

God’s own country, Kerala, is all set to launch a massive campaign intended to attract both public and private investments for infrastructure. The southern state which has numerous geographical advantages but is strapped due to poor infrastructure is looking to create facilities in all areas including railways, highways waterways, coastal shipping, airports and sea ports. It is also looking to tap energy from various sources like solar, hydel, wind, gas and tidal. The state has also laid emphasis on provision of quality education and world-class healthcare to everyone.


Infra status for MRO operations

In a move intended to raise the profile of the maintenance, repairs and overhaul (MRO) industry, the Reserve Bank of India has announced infra status for it, saying that the category will hence be treated as part of airport infrastructure for the purpose of external commercial borrowings (ECBs). This follows a recent review directed that MROs would hence be viewed as part of the sub-sector of airport in the transport sector of infrastructure. A few months ago the central bank liberalised the definition of infrastructure with a view to bring more areas into the ambit of ECBs. The infrastructure sectors include power, telecom, railways, roads and bridges, sea port and airport, industrial parks, urban infrastructure – which includes water supply, sanitation and sewage projects - mining, exploration and refining.


Rs 40,000 cr boost for Assam roads

Assam is expected to see a dramatic improvement in its roads and highways network thanks to an infusion of up to Rs 40,000 crore over the next 20 years. The investment will enhance road connectivity through construction of national and state highways and upgradation and expansions of existing ones into two and four lane routes. As per the plan it is being assessed that in the next 3-5 years, the state will have around 6,000 km of state highways and over 3,000 km of NH network. Authorities are also examining the prospect of an alternate national highway between Guwahati and Silchar in the Barak valley to cut short travel time. Apart from new constructions, a big focus is given on expansion of the existing roads by converting the two-lane highways into four-lanes, while the single-lane state roads are being made two-lanes. The Centre is also focused on conversion of rural roads into all weather roads under the Pradhan Mantri Gram Sadak Yojana (PMGSY) scheme.


Financial closure for IRB Infra road project

IRB’s wholly-owned subsidiary IRB Westcoast Tollway has tied up project finance of Rs 1,406 crore for the Goa-Karnataka border project in Karnataka, as per a statement issued by the company. It is reported the total cost of the road project is Rs 2,639 crore, out of which viability gap funding from the National Highways Authority of India (NHAI) is to the tune of Rs 536 crore, while equity contribution by the company would be around Rs 697 crore. The financial closure was achieved due to the support of a consortium of lenders led by IDBI including Allahabad Bank, Bank of Baroda, Bank of India, Canara Bank and Union Bank of India. The project is scheduled to be completed in a timeline of 910 days and the concession period for the same is 29 years. 


Cochin airport terminal contract for L&T

L&T has been awarded the contract for the construction of a 15 lakh sq ft new international terminal complex at Cochin International Airport Ltd (CIAL). The total cost of the project is 284.14 crore, which is 11.24 per cent above the initial estimate of Rs 255 crore. Tenders for the construction of the new facility were invited by CIAL in November and four companies participated in the bids. The work in the proposed development includes construction of a three level terminal containing arrivals, immigration check counters, customs baggage and other utility services, duty free shops, restaurants and aerobridges. CIAL is further planning to invite tenders for the remaining works such as flooring, false ceiling, electrical works, air-conditioning, fire fighting etc. as separate packages simultaneously during the progress of the project. Tendering for operational area-related works like parking bays, taxi links etc will also start soon.


Rs 4,000 cr projects cleared by WB

For a state that has a reputation for the tardy pace of implementing development projects West Bengal seems to be in aggression mode. In a sudden burst of energy the Mamata Banerji government has cleared industrial projects worth over Rs 4,000 crore. The major proposals which have obtained clearance include the Rs 2,000-crore Bengal Shipyard project, to be developed jointly by the State Government and the Apeejay Group; a rubber park at Domjur in Howrah district to be developed over 92 acres; handing over of 20 acres of land to Global Spirits Ltd for setting up a Rs 145 crore beer-manufacturing unit; clearance to Emami Cement Ltd to set up a manufacturing unit at cost of Rs 418 crore in Raghunathpur, Purulia; a Rs 650 crore food park in Sankrail and a special economic zone for gem and jewellery at Manikanchan.


UL Cyber Park will operational in March

A new IT destination in South India is expected to soon come up on the country’s map with the commissioning of the Rs 210-crore UL Cyber Park in Kozhikode. The first IT special economic zone in the cooperative sector is expected to be ready by March. Close to a dozen multinational companies have already set up shop here and close to half of the five million square feet space is expected to be up for grabs for big companies. The park is being promoted by the Uralunkal Labour Contract Cooperative Society. The second phase of the project which is expected to begin next year will see construction of residential buildings and hotels catering to the IT and ITES professionals.


Rohtak-Panipat highway achieves commercial operation

Sadbhav Engineering’s Rs 1,220 crore highways project in Haryana has achieved commercial operation. The project relates to the four-laning of the Rohtak-Panipat stretch of NH-71 on design, build, finance, operate and transfer basis under National Highways Development Project phase III. The project was taken up under the aegis of the Rohtak-Panipat Tollway Pvt Ltd (RPTPL), a special purpose vehicle (SPV) promoted by the company. “Accordingly, RPTPL has been expected to collect the toll from January 9. The concession period is 25 years from the appointed date.” the company said in a press release.


UP bridges contract for GPT Infraprojects

GPT Infraprojects, the flagship company of the GPT Group, has been awarded bridge development works totally worth Rs 137 crore in Uttar Pradesh. Of this the scope of work for a Rs 114 crore contract from Rail Vikas Nigam Ltd (RVNL) in Jhansi division of North Central Railway includes construction of major steel girder bridges, foundation work, substructure and related protection. The company has also bagged other works worth Rs 23 crore. The timeline for completing the RVNL project is 36 months.


CIDCO floats tender for Navi Mumbai Airport

The City and Industrial Development (CIDCO) has floated a global tender for the construction of the Navi Mumbai International Airport. The  Hyderabad-based GVK has announced that it will participate in the bidding and holds the first right of refusal in the project by virtue of its subsidiary Mumbai International Airport while a lot of other national and international firms are expected to participate in the process . These include Reliance Infra, L&T, Singapore based Changi. The airport covers an area of 1,160 hectare and will have a capacity to handle 60 million passengers a year. The cost of airport construction in the first two phases has been pegged at Rs 9,500 crore. The qualification process ends on August 5, 2014.


Supertech ties up  with yoo Realty firm

Supertech has tied up with UK design firm yoo Worldwide for the design of two luxury residential projects in Gurgaon comprising 400 flats and villas The projects to be done by the UK designer are to be designed under two brands ‘Jade Jagger for yoo’ and ‘Steve Leung & yoo’ Incidentally Supertech had engaged with the Italian fashion brand Armani group for the interior designing of 100 super luxury residences in a mixed-use project at Noida last year.


GIFT City invites developers

National and international developers have been invited to participate in the development of commercial and residential towers at the Gujarat International Finance Tec-City (GIFT City), dubbed India’s first global financial hub  1.25 million sq ft. of built up area has been earmarked for commercial and residential purposes in GIFT SEZ and non-SEZ areas. The company has floated a request for proposal (RFP) for further development in the zone. Under Phase-I GIFT City will be developing close to 13 million square feet of built-up area (BUA) for commercial, residential and social uses. Of this, 8.4 million sq ft has already been allotted. Among the developers who have expressed interest in participating in the project are Hiranandani, Lodha, Godrej, Ajmera Realty and Arihand Developers


Clover launches Rs 350-crore retirement homes 

Pune based Clover Builders has tied up with Covai Property Centre, a Coimbatore firm, for for the launch of the country’s largest retirement home project. The Rs 350 crore project called Clover Rennaissance, spread over 57 acres involves building in phases villas and 7-floor towers housing a total of 1000 residential units. The village will offer include concierge services, catering, banking, payment of bills, taxes and IT return filings. The cost has been pegged at Rs 70-96 lakh, while the suites range from 640 sft-1,200 sft in size and come at a price tag upwards of Rs 33.27 lakh. Covai Property Centre will offer technical expertise.


Tata Housing launches Rs 2000 crore project  

Tata Housing Development, the real estate arm of the Tata Group has launched a luxury residential project in the northeastern suburb of Mulund. The project called Gateway Towers is spread across 8.5 acres is part of an Rs 2,000 crore, 19-acre, redevelopment project. Six luxury residential towers will rise from 31 to 41 storeys will rise in the zone. The project is in line with the company’s strategy of creating marquee projects in major metros. The towers are designed by Callison and the construction is expected for completion in four years time.

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