India Infradebt (Infradebt), which is the countryĆās first Infrastructure debt funds (IDFs) in the NBFC format, completed its first transaction by refinancing a road project of Zirakpur-Parwanoo section of NH-22. The stretch is built by Himalayan Expressway, which is part of Jaiprakash Group. The debt fund is sponsored by ICICI Bank along with Bank of Baroda, Citigroup and LIC
Category: Roads & Highways
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Minister proposes 7 km flyover in Mandya to ease traffic
To ease traffic congestion in the heart of Mandya city, on Bangalore-Mysore main road, the Karnataka government has been requested to construct a seven-km flyover from the entry point of Mandya city up to the exit point, the State Housing Minister MH Ambareesh said on July 7. He said that the proposed flyover is likely to cost around Rs 317 crore. During peak hours, it takes not less than 45 minutes to cross Mandya on the main road.
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PPP policy must aim to allot risks optimally
Experts feel that the objective of the public private partnership (PPP) policy of the government should be to share the project risks optimally, rather than transfer them wholesale to the private sector. Experts and policy makers are debating the fate of PPP projects in the country in the wake of some private contractors exiting key infrastructure contracts like metro rail, highway etc
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AI extends deadline for $500 mn bridge financing offer
As the lenders not showing much interest, Indian government-owned Air India has extended its $500-million bridge financing offer by one week to July 12. Air India is planning to raise the money to pay for the five Dreamliners, which are to be delivered beginning this month through December. The airline had extended the last date to July 12 from July 5, according to AI sources.
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Ashok Leyland wins order to supply 2,610 buses to TN
Ashok Leyland has bagged an order to supply 2,610 buses for Tamilnadu government. The company, a leader in commercial vehicles and Hinduja Group company, has got the order from Institute of Road Transport (IRT) of the state. The Institute is the nodal organisation that procures buses for all transport corporations in Tamil Nadu.
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Experts favour renegotiation of PPP contracts
Some experts of the public-private partnership (PPP) model feel that the government must make provision for tweaking the contractual agreements in the course of a contract for mega infrastructure projects with a fairly long concession period. They argue that the initial projections or assumptions made by the concessionaire in case of a road or metro rail project may go wrong in the course of the concession period
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Inkel to rope in private firms for tower project
A Kerala government-led body Inekl is in the process of roping in investors, developers, companies and individuals for setting up a tower on 2.45 acre of land at Angamaly. The proposed tower is very close to Cochin International Airport and 35-km from the seaport at Vallarpdam. A dedicated 750-metre approach road is being laid to the site from NH 47. Angamaly Railway station is only 700-metre from
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Gurgaon residents complain to CM over bad roads
Fed up with the lackadaisical attitude of the Haryana Urban Development Authority (Huda) regarding the upkeep of the approach roads to Gurgaon's Sector 21, the area residents last week wrote a letter to Chief Minister Bhupinder Singh Hooda, seeking his intervention in the matter. In November, the CM of Haryana had visited the sector and ordered an immediate solution. The administrator had then promised that the road would be made in the next three months but not even a survey has been done till
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Police suggest 4-point solution to Delhi traffic problems
Delhi police have proposed a four-point proposal to decongest the stretch of NH-8 in the city due to major traffic snarls being faced by commuters because of construction of the Airport Express line along the arterial highway. The plan, submitted to Unified Traffic and Transportation Infrastructure Planning and Engineering Centre (UTTIPEC) after a careful traffic study of the area, suggests the construction of a one-way flyover, two rotaries and widening of the road. Additional Commissioner of P
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Ashoka-GVR Infra team bags Chennai ORR project
The Chennai Outer Ring Road Phase II project, costing Rs 985.44 crore, has been bagged by a consortium of Ashoka Buildcon and GVR Infra Projects. The Tamil Nadu government had earmarked Rs 1,075 crore for the project, which will decongest Chennai roads. The 62-km ORR project links the peripheral areas of the city from Vandalur in the south, about 25 km from Chennai on NH 45, to Minjur to the north of Chennai.