Billionaire Gautam Adani's group has pulled out of a loan deal with a US agency to fund a port terminal in Sri Lanka, saying it will use its own resources for the project. In an exchange filing late on Tuesday, Adani Ports and Special Economic Zone Ltd (APSEZ) said the project "is on track for commissioning by early next year". "The project will be financed through the company's internal accruals and capital management plan," the firm said.
DFC is the US government's development finance institution. Adani Ports and Special Economic Zone Limited (APSEZ) in a statement said that the US fund will support the development of deepwater shipping container terminal in the Port of Colombo.
Govt has already approached World Bank seeking termination of contract. The progress of the project was just 20 per cent though the contract was awarded in 2016.
A 25 per cent year-on-year (Y-o-Y) increase in budget allocation towards the roads sector for FY24 has led to renewed interest among investors. However, a combination of escalating costs for Bharatmala and unseasonal rains to some extent have impacted progress. Bharatmala's cost has nearly doubled from Rs 5.35 trillion to Rs 10.6 trillion and the finance ministry has asked MoRTH to go slow until Cabinet approval is received.
Built by the French railway technology company Alstom, it will host a 90-metre-long digital wall for train operation, said to be the second largest in Asia.
From the seas to the stars, this partnership will now be deepened by the defining role of technology, the statement said.
Those transferred include special secretary of health and family welfare Udit Prakash Rai, a 2007 batch IAS officer of AGMUT cadre.
This alternative is being planned as the existing projects continue to be delayed due to land acquisition troubles. The ministry is thinking of adding new track lines to its existing eastern and western DFCs passing major areas in the proposed stretches, senior officials said.
Indian and global construction companies vying for Rs 12,000 crore worth of civil works for Dedicated Freight Corridor.
The Railway ministry has been allocated budgetary support of Rs 140367.13 crore in the Union Budget on Tuesday - Rs 20,311 crore more than the revised figures of the previous fiscal. Overall, the national transporter is set to get a capital expenditure (CapEx) push of Rs 2.45 lakh crore in the financial year 2022-23, 14 per cent higher than the budgeted capital expenditure of Rs 2.15 lakh crore for the current financial year. Finance Minister Nirmala Sitharaman in her Budget speech for 2022-23 said that India will manufacture 400 new, energy-efficient Vande Bharat trains in the next three years.
Whatever be the political coalition that comes to power at the Centre after May 16, the new government will have five ongoing projects to kick-start a sluggish economy.
The 190-km railway line will be between Dadri in Uttar Pradesh and Phulera in Rajasthan, which fall under the Western Dedicated Freight Corridor
The foreign ministers of the Quad grouping of India, the US, Australia and Japan on Friday held extensive talks in Melbourne amid escalating tension between Russia and NATO countries over Ukraine, the Afghan crisis and increasing concerns over China's "coercion" in the Indo-Pacific region.
Bulk goods should be transported through rail instead of roadways as it would be cost effective and environment friendly, said Pawan Kumar Bansal.
Focus on the Dedicated Freight Corridor and Delhi-Mumbai Industrial Corridor could spur the sector.
It will also provide support to the government for finalising the financial and implementation models.
Govt wants to up investment in Railways
Listing three such 'unknown knowns', UBS said that these initiatives -- Aadhaar unique identity programme, GST tax reforms and a Dedicated Freight Corridor rail infrastructure project -- are real and their effects will be felt in the foreseeable future irrespective of which political party is in power after the elections.
The double-line pilot section will be commissioned with an investment of Rs 1,000 crore.
Aamir Khan had asked for a chinkara for a scene in Lagaan.
Under the plan, there will be 151 private trains covering 109 routes which may entail investments worth Rs 30,000 crore.
The minister plans to reinstate the Railways as the backbone of the economy
The Railway Budget has impressed industry watchers.
Japanese companies are planning investments of about Rs 75,000 crore
'We hope there shall be more focus on existing projects and their completion rather than new projects.' 'Any new project announcements should be largely for decongesting the existing lines rather than new lines.'
Indian Railways is currently implementing a project that involves laying of a broad gauge line connecting Nangaldam to Talwara in Himachal Pradesh.
To facilitate foreign direct investment (FDI) in high- speed rail projects, the government is likely to allow private sector entry in operations.
Narendra Modi is no reformist, but here's how he could yet change the path India's economy.
Only a 5-year-old airline with 20 planes is allowed to fly abroad.
The changes in the ordinance have been made after taking inputs from states suggesting changes to the Act which would make it more industry-friendly
Currently, the travel time between Mumbai and Delhi varies between 16 and 30 hours.
We have brought about a slew of reforms that would help improve governance and also facilitate industrial growth, Rajasthan Chief Minister Vasundhara Raje tells Sahil Makkar.
Armed with green nod and fund infusion, Gujarat govt getting ready to issue tenders to build infrastructure at the mega investment region
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