'If you align your ambition with India's rise, the peak of your careers will unfold alongside the peak of India's power.'
Prime Minister Manmohan Singh on Wednesday directed fast-tracking of major infrastructure projects in Maharashtra, including building of two new airports and expansion of one.
A week after the devastating Air India plane crash in Ahmedabad claimed 270 lives, investigators on Thursday continued to sift for clues to ascertain the cause, while the government said the Aircraft Accident Investigation Bureau will decide where to decode the black box of the ill-fated Dreamliner.
Real estate development on Mumbai airport land and the work on Navi Mumbai airport have been inordinately delayed, which have prompted rating downgrades and raised questions on its financial capabilities. It is also trying to stave off Adani group's entry as a shareholder in the Mumbai airport project.
The Adani group has said it will have a capital expenditure of Rs 1.1 trillion in 2025-26 as against this financial year's Rs 92,000 crore, with a focus on core energy and infrastructure. Expenditure will be financed through an internal cash generation of Rs 60,000 crore, and the rest will be raised via equity and debt, according to senior officials.
The Adani group plans to bid for setting up duty-free shops at the Macau international airport, as India's largest airport operator spreads its wings overseas. In a stock exchange filing, Adani Enterprises, the flagship firm of the conglomerate run by billionaire Gautam Adani, said it has completed the incorporation of a wholly-owned subsidiary, MTRPL Macau Ltd, in Macau on November 20. The subsidiary has been incorporated for the purpose of getting into the duty-free industry.
"It happens. It's part of our lives," retired Indian Navy commander B K Verma who has returned from Qatar says with stoicism while talking about his daughter's wedding that he could not attend.
They were asked to wait for 72 hours, but the deadline passed on Sunday and the wait seems endless.
After retirement, Desle toured a couple of places but visiting Kashmir was his dream, said 60-year-old Nerkar who used to do yoga with his friend regularly.
And learn what not to do from the so far jinxed Navi Mumbai International Airport.
While the Navi Mumbai airport project has been cleared for take off, two other big-ticket projects in Maharashtra - a cargo hub in Nagpur and an international airport at Rajgurunagar near Pune - are grounded because of delays in land acquisition.
In 2012, Knight Frank estimated that prices in Ulwe grow by 50% in three years.
A native of Mandangad in coastal Ratnagiri district, the Songhare family had moved to Mumbai for work and shifted to Dombivli two years ago.
Billionaire Gautam Adani's Adani group on Monday said it has reached an agreement to acquire GVK group's shareholding and control of Mumbai airport.
The International Civil Aviation Organisation has given clearance for building a second airport in Mumbai, Civil Aviation Minister Praful Patel said on Tuesday.
PBKS-DC game also uncertain, say BCCI Sources
The trails of mega-mergers, tailwinds of expanding fleets, flights and airports will dot the fast-growing Indian aviation firmament in 2025, though the dark clouds of supply chain woes will persist longer. Also, new airline takeoffs, the future trajectory of revised norms to tackle pilot fatigue and efforts to reduce carbon emissions will be on the radar.
The environment ministry has objected to the fact that around 115 hectares (or 7.3 per cent) of total land for the project is mangrove forest. It recently conveyed this to both Cidco and the civil aviation ministry. The matter is now with the prime minister's office. Cidco Vice-Chairman and Managing Director GS Gill said the corporation had sought an appointment with the environment ministry officials to make another presentation on the project in the next 10 days.
Adani group plans to invest about Rs 1.3 lakh crore across its portfolio companies this fiscal as it doubles down on its $100 billion investment guidance over the next 7-10 years to grow businesses, group CFO said on Tuesday. The investment across portfolio companies that range from ports to energy, airports, commodities, cement and media will be 70 per cent met through internal cash generation and the remaining through debt, Group CFO Jugeshinder 'Robbie' Singh told reporters in Ahmedabad.
Sources close to the development said the group will shortly take a decision on the business, which has seen interest from large houses like the Tatas and the Ambanis.
It is likely that politicians, or their benamis, have bought a fair amount of land before the decision to build an airport in Navi Mumbai was announced.
According to officials, at last count at least six large groups or consortiums are vying for this project, which is expected to change the way Mumbai is viewed some years down the line.
The CIDCO has received the inception report from its consultant Louis Burger and are expecting the DPR from them within next four to five months and after that, we will be inviting global bids, said senior official from CIDCO. The cabinet approval allows CIDCO to call global bids for this Rs 10,000-crore (Rs 100 billion) project once they receive detailed project report.
The process of acquiring land for Mumbai's second international airport, to be build in Navi Mumbai, has kickstarted. The phase wise development plan too has been rolled out.
A series of mega projects that have faced bottlenecks and which the Cabinet Committee on Investments has to clear.
Hyderabad-based diversified infra group GVK is likely to finalise stake dilution in its airport business over the next couple of months and the proceeds will be used to clear Rs 2,500-crore (Rs 25 billion) non-operational debt.
The Adani group, buoyed by a sharp recovery in its share prices over the past year, is set to embark on a series of roadshows this week to raise up to $4 billion (approximately Rs 33,254 crore) through equity and refinancing of older debt, according to banking sources. The roadshows, scheduled to take place in major cities, will inform investors about the group's investment plans across renewable energy, petrochemicals, and infrastructure development.
The plane, which took off from Jeddah around 11 am IST, landed in Mumbai at 3.15 pm, an official said.
Would you spend Rs 2.5 lakhs to make your car look like a helicopter? Ishwar Deen, a sculptor who lives in Ambedkar Nagar's Khajuri Bazar, did.
The government and MMRDA are keen to develop the 22-km link, which will connect Sewri on the island city to Nhava Seva in Navi Mumbai, on an engineering, procurement and construction basis and not on the build-operate transfer model, considering past experience.
The Delhi-Dausa-Lalsot stretch is set to reduce the travel time between the national capital and Jaipur considerably.
Last week, when the Builders Association of Navi Mumbai organised a property exhibition, they were taken by surprise when 200,000 visitors turned up for the four-day event.
Adani group saw a 55 per cent profit surge in the fiscal year ended March 2024 as the apples-to-airport conglomerate is back on an expansion spree and eyeing a $90 billion capex over the next decade. Emerging from a damning report of a US short seller, which hit market value of its listed companies, Adani group in 2023-24 (April 2023 to March 2024) fiscal focused on containing debt, reducing founder share pledge and consolidating business in core competencies.
With the environment ministry nod to Navi Mumbai airport, money is flying into projects in its precincts.
'You need to have enough funds to maintain the primacy of public transport and it should not suffer because of lack of funds.'
Prime Minister Narendra Modi on Friday inaugurated the Rs 17,840 crore Atal Bihari Vajpayee Sewri-Nhava Sheva Atal Setu, the longest bridge as well as the longest sea bridge in the country connecting south Mumbai with Nhava-Sheva in Navi Mumbai.
Intense spells of rain are likely to continue in the districts of Thane, Raigad and Mumbai during next four hours, the India Meteorological Department (IMD) said.
Eknath Shinde, a former auto-rickshaw driver, has emerged as a key leader in Maharashtra, culminating in his appointment as Deputy Chief Minister. His journey from a Shiv Sena rebel to a dominant figure in the state's politics is a testament to his resilience and political acumen. He gained popularity for his pro-people stance and his contributions to infrastructure projects and social welfare schemes, solidifying his position as a powerful player in the Mahayuti alliance.
Government-owned Life Insurance Corporation of India (LIC) has seen substantial gains from its investments in Adani group shares, which have experienced a significant recovery over the past year. The value of LIC's stake in Adani group companies surged by 51.6 per cent, or Rs 22,591 crore, reaching Rs 66,388 crore as of Friday's close. This compares to Rs 43,797 crore on May 31 last year, according to stock exchange data.
The civil aviation sector is witnessing a number of initiatives
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