INFRASTRUCTURE PROJECTS
DK Shivakumar pitches for site close to Kanakapura for Bengaluru¡¯s second international airport
Deputy CM DK Shivakumar is advocating for Bengaluru's second international airport to be located near Kanakapura. The proposed site between Bidadi and Harohalli is strategic for its industrial proximity. The government plans to use a PPP model similar to Kempegowda International Airport, requiring around 4500-5000 acres of land.
Ceigall India wins contract for Ludhiana bypass; to built the 25.24 km stretch under HAM
Ceigall India has secured a bid for the development of a six-lane greenfield southern Ludhiana bypass, part of the Ludhiana-Ajmer economic corridor, worth Rs 923 crore. The project, under the hybrid annuity model in Punjab, demonstrates the company's infrastructure expertise. Ceigall India aims to achieve contracts totaling Rs 5,000 crore by FY2025, expanding its presence across ten states.
Budget 2025: DK Shivakumar requests funds for Bengaluru's mega infrastructure projects
Deputy Chief Minister DK Shivakumar has requested Union Finance Minister Nirmala Sitharaman for funding critical infrastructure projects in Bengaluru. These include tunnel roads, double-decker flyovers, and a buffer zone road. Shivakumar emphasizes the need to alleviate traffic congestion and enhance the city¡¯s development to maintain its status as India's Silicon Valley.
Macrotech Developers Q3 profit rises 88% to Rs 944 cr on higher income
Macrotech Developers, operating under the Lodha brand, posted an 88% rise in net profit for Q3 FY25, hitting Rs 944.4 crore due to a surge in housing demand. Their total income increased to Rs 4,146.6 crore. The firm achieved its highest pre-sales of Rs 4,510 crore and recorded robust collections of Rs 4,290 crore.
Sam Altman teases Stargate Project's Texas site amid banter with Elon Musk
The Stargate project is a $500 billion initiative to build AI infrastructure across the US, with Masayoshi Son taking the role of chairman. When OpenAI announced a commitment to deploy $100 billion in the project immediately with SoftBank, Musk said, "they don't have any money".
Kalpataru Projects International secures Rs 2,038 cr orders
Kalpataru Projects International, along with its international subsidiaries, has secured new orders worth Rs 2,038 crore in the Transmission & Distribution sector, both domestically and internationally, as well as in building projects within India. This increases their Year to Date order intake to Rs 19,361 crore, enhancing business visibility and growth prospects.
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Blackstone plans to invest $11 billion in Maharashtra, nearly half in Mumbai 3.0
Blackstone Group is planning to invest up to $11 billion in developing real estate and infrastructure assets in Maharashtra over the next three to five years. The investment includes $5 billion for the Mumbai 3.0 project and additional funds for data centres in collaboration with Panchshil Realty.
Elon Musk reacts to SoftBank-OpenAI¡¯s $500 billion AI project, says ¡®they don¡¯t have the money¡¯
Elon Musk criticises OpenAI and SoftBank's $500 billion Stargate Project for AI infrastructure, doubting their financial capabilities. The initiative involves major tech companies like Oracle, MGX, Arm, Microsoft, and Nvidia. Construction has started in Texas, supported by ongoing partnerships with Microsoft and NVIDIA, aiming to bolster AGI research and re-industrialize America.
Elon Musk raises concerns over $500 billion Stargate Project backed by Donald Trump
Elon Musk has expressed doubts about the financial feasibility of the $500 billion Stargate AI Project announced by President Donald Trump. The project, led by OpenAI and SoftBank, aims to build AI infrastructure across the US, create over 100,000 jobs, and strengthen national security. Despite strong government backing, concerns remain over funding, with Musk questioning SoftBank¡¯s ability to finance the ambitious initiative. Key partners include Oracle, Microsoft, NVIDIA, and Arm, with initial construction underway in Texas.
Donald Trump announces up to $500 billion in AI infrastructure investment
The announcement on Trump's second day in office follows the rolling back of former President Joe Biden's executive order on AI, that was intended to reduce the risks artificial intelligence poses to consumers, workers and national security.
PM Gati Shakti: Rs 11.17 lakh crore mega push with 434 projects to transform India's logistics
The Ministry of Finance has identified 434 projects under the PM Gati Shakti initiative to boost India's logistics infrastructure. With an investment of Rs. 11.17 lakh crore, these projects target logistics efficiency through major economic corridors including Energy, Mineral, Cement, Port Connectivity, and High Traffic Density.
Trump to make 'massive' infrastructure announcement, White House says
President Donald Trump is set to make a significant infrastructure announcement on Tuesday, which, according to White House Press Secretary Karoline Leavitt, will demonstrate America's resurgence. The announcement is scheduled for 4 p.m. Trump had previously promised a $1 trillion infrastructure package during his term, which was not realized, while President Biden succeeded in passing a similar bill in 2021.
?PNC-KKR Rs 9,000 crore deal : Approval for 8 assets received from NHAI, two more by January end
PNC Infratech gains in-principle NHAI approval to transfer a 100% stake in two subsidiaries managing Bundelkhand and Khajuraho road projects to KKR-backed Highways Infrastructure Trust. The deal is on track to close by March 31, 2025, aligning with PNC's strategic objective of recycling capital.
Afcons Infrastructure shares rise 3% after securing Rs 4,787 crore Pune Ring Road project
Afcons Infrastructure's shares spiked 3.5% as it became the lowest bidder for two Pune Ring Road (East) projects worth Rs 4,787.20 crore. Despite a year-on-year revenue decline, the company's Q2 consolidated net profit rose by 30%. The stock's technical indicators show a bearish trend.
Modi inaugurates Rs 2,700 crore all-weather Sonamarg tunnel in Jammu & Kashmir
Prime Minister Narendra Modi inaugurated the Sonamarg tunnel in the Ganderbal district, ensuring year-round connectivity and boosting tourism in the region. The 6.5 km tunnel, costing Rs 2,700 crore, will significantly reduce travel time, enhance local employment, trade, and benefit the Ladakh area. The Zojila Tunnel under construction will further improve accessibility.
Banks, infrastructure finance companies need to join hands for big projects: DFS Secretary
Financial services secretary M Nagaraju stresses the need for collaboration between banks and infrastructure finance companies to fund large-scale projects, focusing on greenfield ventures. He emphasizes preventing fraud and fostering innovative financial strategies to achieve the vision of a developed India by 2047.
Railway capex tops Rs 2 lakh crore in FY25; PM Modi inaugurates Rail projects in J&K, Telangana, and Odisha
Indian Railways' capital expenditure for the current fiscal year has exceeded Rs 2 lakh crore. The investments focus on capacity augmentation, rolling stock, and safety-related developments. Prime Minister Narendra Modi launched rail projects in Jammu-Kashmir, Telangana, and Odisha. Public-private partnerships worth Rs 8,733 crore were also executed this fiscal year.
Stable policy framework key to attract investments in infrastructure sector: Aviation secy
Policy stability, efficiency in execution, and respecting contracts are vital for attracting international investments in India's infrastructure sector. Emphasis on faster project clearances and innovative solutions can help build world-class infrastructure by 2047. Improved decision making by multilateral institutions and tapping concessional finance for under-resourced sectors like education and health are key factors.
Revamped infra monitoring system to be unveiled in January
The Centre's infrastructure project monitoring system is being revamped to enhance milestone tracking and detailed step-by-step information for projects. The updated system, launching next month, will identify potential delays to control costs and timelines, and will integrate with other portals for consistent data entry and monitoring.
Asian Development Bank to provide $500 million loan to support sustainable infra projects in India
The Government of India and ADB have signed a USD 500 million loan to support green infrastructure projects in alignment with India's climate goals. The loan will be provided to India Infrastructure Finance Company Ltd. for projects in connectivity, energy transition, urban development, education, and health care sectors.
Orders placed for 3 boring machines to construct 21 km under sea tunnel for bullet train: Govt
Three tunnel boring machines have been ordered for the 21-km undersea tunnel section of the Bullet Train project in Maharashtra. Land acquisition is complete, and construction of bridges, aqueducts, and shafts for the TBMs is underway. Over ?1,64,000 crore has been allocated for infrastructure projects in the state, including the Western Dedicated Freight Corridor, with 76 km already commissioned.
Infra works worth Rs 24,276 crore approved for Amaravati: Minister P Narayana
Andhra Pradesh approved a massive Rs 24,276 crore for Amaravati infrastructure. The funds will develop roads, layouts, and iconic structures like the Assembly and High Court buildings. These projects aim to transform Amaravati into a world-class city within three years. The Assembly building will offer panoramic views of the capital. Construction tenders will be finalized by January.
As of November 1, 438 projects report cost overrun of Rs 5.18 lakh crore: Govt
438 infrastructure projects in India are facing a combined cost overrun of Rs 5.18 lakh crore, a 62% increase from the original estimated cost. Factors contributing to these overruns include underestimated initial costs, fluctuating exchange rates, rising land acquisition and labor costs, and increased expenses for environmental safeguards.
Don't see any slowdown in public infra funding: Bentley Systems
Bentley Systems, a Nasdaq-listed infrastructure engineering software company, anticipates continued growth in India due to the country's robust infrastructure spending. The company, which supports infrastructure projects globally, sees particular potential in India's water, energy, and renewables sectors.
Around 75 tunnel projects worth Rs 49,000 cr under construction in India: Nitin Gadkari
Union Minister Nitin Gadkari announced that 75 tunnel projects worth ?49,000 crore are currently under construction in India. These projects, totaling 146 km, are part of a larger infrastructure push. An additional 78 tunnel projects, costing ?1.10 lakh crore and spanning 285 km, are also planned, highlighting the growing importance of tunnels in India's development.
Nearly 3,500 projects completed under PMGSY in J&K
Nearly 3,500 projects, including 217 bridges, have been completed under the Pradhan Mantri Gram Sadak Yojana in Jammu and Kashmir over the past two decades. A review meeting emphasized expediting completion, quality standards, and rural connectivity improvements. Out of 2,140 targeted habitations, 2,129 have been connected, incurring Rs 12,650 crore.
Better infrastructure is about connecting dreams, accelerating progress: PM Modi
Prime Minister Modi announced Cabinet approvals for three railway projects worth ?7,927 crore, benefiting Maharashtra, Madhya Pradesh, and Uttar Pradesh. A national mission to promote natural farming among one crore farmers was also approved, with a budget of ?2,481 crore. 'One Nation One Subscription' received a nod, aiming to boost research and learning.
IIFCL has investments in Adani and other infrastructure projects: MD
IIFCL's Managing Director, P R Jaishankar, assured investors that the company's investments in Adani Group projects are secure and isolated within special purpose vehicles. Despite the US Department of Justice's allegations against the Adani Group, Jaishankar emphasized that IIFCL's investments are protected and the company maintains a low NPA level of 0.22%.
PNC Infra gets NHAI nod to transfer 100 pc stake in 3 subsidiaries to Highways Infra Trust
PNC Infratech has secured approval from NHAI to transfer its 100% stake in three road project subsidiaries to Highways Infrastructure Trust. This is part of a larger Rs 9,005 crore deal involving the divestment of twelve road assets to the KKR-controlled trust.
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